Lennar Corporation
LEN Consumer Cyclical Residential Construction
Lennar Corporation’s revenue for fiscal 2025 (year ended November 2025) was $34.2 billion, down 3.54% from fiscal 2024. In the quarter to August 2026, revenue fell 8.67%, EPS fell 48.0%, free cash flow grew 50.1% and total debt rose 22.0%, each against the same quarter a year earlier. Member of the S&P 500; dividend growth for ten consecutive years; insiders bought in the last twelve months.
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Lennar Corporation (LEN) Gross margin
Lennar Corporation's gross margin over the twelve months to 31 August 2026 was 7.49%, down 2.4 percentage points from fiscal 2025 (9.91%). Over the past ten years it has ranged from 9.91% (fiscal 2025) to 21.4% (fiscal 2022) — the current reading is the lowest in ten years. That is below the Residential Construction industry median of 22.3% and below the Consumer Cyclical sector median of 35.0%.
Gross margin, annual
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Annual newest first
| Period | Gross margin | Change (points) |
|---|---|---|
| FY2025 | 9.91% | (5.61) |
| FY2024 | 15.5% | (1.83) |
| FY2023 | 17.4% | (4.04) |
| FY2022 | 21.4% | 0.98 |
| FY2021 | 20.4% | 4.96 |
| FY2020 | 15.5% | 2.86 |
| FY2019 | 12.6% | 1.24 |
| FY2018 | 11.4% | (1.50) |
| FY2017 | 12.9% | (0.80) |
| FY2016 | 13.7% | (0.10) |
Quarterly newest first
| Period | Gross margin | Change (points) |
|---|---|---|
| Aug 2026 | 7.69% | 0.70 |
| May 2026 | 6.99% | 1.09 |
| Feb 2026 | 5.90% | (2.95) |
| Nov 2025 | 8.85% | (1.28) |
| 43 more quarters | Free account |
Against its own ten years
Gross margin against peers
| Company | Gross margin |
|---|---|
| IBP Installed Building Products, Inc. compare | 33.6% |
| SKY Champion Homes, Inc. compare | 26.0% |
| PHM PulteGroup, Inc. compare | 25.2% |
| TOL Toll Brothers Inc. compare | 23.8% |
| CVCO Cavco Industries, Inc. compare | 23.2% |
| DHI D.R. Horton, Inc. compare | 22.6% |
| NVR NVR, Inc. compare | 22.0% |
| LEN Lennar Corporation | 7.49% |
| LEN.B Lennar Corporation compare | 7.49% |
| Residential Construction industry median | 22.3% |
| Consumer Cyclical sector median | 35.0% |
| Market median | 46.2% |
What Gross margin is
Gross Margin tells an investor how much of each sale a company keeps after paying the direct costs of making or buying what it sells.
Gross Profit ÷ Revenue
More on LEN
- Revenue
- Net income
- EPS (diluted)
- EBITDA
- Free cash flow
- Operating cash flow
- Operating margin
- Net margin
- Free cash flow margin
- P/E ratio
- P/S ratio
- P/B ratio
- Price to free cash flow
- EV/EBITDA
- EV/Sales
- EV/FCF
- Return on equity
- Return on assets
- Return on invested capital
- Debt to equity
- Current ratio
- Total debt
- Shares outstanding
- Book value per share
- Revenue growth
- Piotroski F-score
- Altman Z-score
- Beneish M-score
- The full statement