LENNYSEGeneral Bldg Contractors - Residential BldgsFiscal year ends November 30Also trades as LEN.B
LENNAR CORP /NEW/
Financials through Q3 FY2026, quarter ended Aug 31, 2026Last filing: 10-Q on Oct 2, 2026
$75.87−1.21 (-1.57%)
Close on Oct 19, 2026
- Market cap
- $18.04B
- P/E (TTM)
- 14.3
- Dividend yield
- –
Margins
Share of revenue, fiscal years 2011 to 2025
Operating margin
–
Net margin
6.1%−4.9 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | -3.5% | +0.5% | +8.7% | +13.7% | |
| Net income | -47.2% | -23.3% | -3.4% | +10.0% | |
| Free cash flow | -98.7% | -79.4% | -63.1% | – |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | 14.4% | 14.5% | 8.3% | |
| Return on assets | 6.1% | 8.3% | 5.5% | |
| Capex to revenue | 0.7% | 0.3% | 0.6% | |
| Diluted shares | 235M | 309M | 258M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Lennar generated $13.60B from operations and spent $10.55B on capital expenditure, dividends and share buybacks. 6% of that went back into the business.
Generated
$13.60B
Used
$10.55B
Capital expenditure$582.32M6%Dividends$2.25B21%Share buybacks$7.72B73%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin6.1%
×Asset turnover0.90×
×Equity multiplier1.52×
=Return on equity, FY20258.3%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | 6.1% | 0.90× | 1.52× | 8.3% |
| FY2024 | 11.1% | 0.88× | 1.48× | 14.4% |
| FY2023 | 11.5% | 0.89× | 1.52× | 15.5% |
| FY2022 | 13.7% | 0.95× | 1.58× | 20.5% |
| FY2021 | 16.3% | 0.86× | 1.63× | 22.8% |
| FY2020 | 11.0% | 0.76× | 1.75× | 14.5% |
| FY2019 | 8.3% | 0.77× | 1.90× | 12.1% |
| FY2018 | 8.2% | 0.87× | 2.11× | 15.1% |
| FY2017 | 6.4% | 0.74× | 2.29× | 10.9% |
| FY2016 | 8.3% | 0.74× | 2.35× | 14.4% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
3of 6 tests passed in fiscal 2025. Some tests lack the figures they need.
- ProfitableNet income above zero$2.08B
- Cash generatingOperating cash flow above zero$216.81M
- Return on assets improvedROA up on the prior year10.0% → 5.0%
- Earnings backed by cashOperating cash flow above net income$216.81M vs $2.08B
- Less leverageLong-term debt to assets fell– → –
- Better liquidityCurrent ratio rose– → –
- No dilutionShare count did not rise272M → 258M
- Gross margin improvedGross margin up on the prior year– → –
- More efficientAsset turnover rose0.90 → 0.83