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) Net margin
Lennar Corporation's net margin over the twelve months to 31 August 2026 was 4.06%, down 2.0 percentage points from fiscal 2025 (6.02%). Over the past ten years it has ranged from 6.02% (fiscal 2025) to 16.1% (fiscal 2021) — the current reading is the lowest in ten years. That is below the Residential Construction industry median of 7.30% and above the Consumer Cyclical sector median of 1.67%.
Net margin, annual
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Annual newest first
| Period | Net margin | Change (points) |
|---|---|---|
| FY2025 | 6.02% | (4.97) |
| FY2024 | 11.0% | (0.37) |
| FY2023 | 11.4% | (2.19) |
| FY2022 | 13.6% | (2.58) |
| FY2021 | 16.1% | 5.30 |
| FY2020 | 10.8% | 2.60 |
| FY2019 | 8.23% | 0.06 |
| FY2018 | 8.17% | 1.82 |
| FY2017 | 6.35% | (1.89) |
| FY2016 | 8.24% | (0.14) |
Quarterly newest first
| Period | Net margin | Change (points) |
|---|---|---|
| Aug 2026 | 3.53% | (0.24) |
| May 2026 | 3.77% | 0.34 |
| Feb 2026 | 3.43% | (1.76) |
| Nov 2025 | 5.19% | (1.46) |
| 43 more quarters | Free account |
Against its own ten years
Net margin against peers
| Company | Net margin |
|---|---|
| NVR NVR, Inc. compare | 12.0% |
| PHM PulteGroup, Inc. compare | 11.6% |
| TOL Toll Brothers Inc. compare | 11.1% |
| DHI D.R. Horton, Inc. compare | 9.15% |
| IBP Installed Building Products, Inc. compare | 8.46% |
| CVCO Cavco Industries, Inc. compare | 7.89% |
| SKY Champion Homes, Inc. compare | 7.16% |
| LEN Lennar Corporation | 4.06% |
| LEN.B Lennar Corporation compare | 4.05% |
| Residential Construction industry median | 7.30% |
| Consumer Cyclical sector median | 1.67% |
| Market median | 0.45% |
What Net margin is
Net Profit Margin tells an investor how much of each unit of revenue ends up as profit for shareholders after all costs, interest and taxes.
Net Income Allotted to Shareholders ÷ Revenue
More on LEN
- Revenue
- Net income
- EPS (diluted)
- EBITDA
- Free cash flow
- Operating cash flow
- Gross margin
- Operating 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