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) Operating margin
Lennar Corporation's operating margin over the twelve months to 31 August 2026 was 5.63%, down 2.4 percentage points from fiscal 2025 (8.05%). Over the past ten years it has ranged from 8.05% (fiscal 2025) to 20.2% (fiscal 2022) — the current reading is the lowest in ten years. That is below the Residential Construction industry median of 9.03% and above the Consumer Cyclical sector median of 3.57%.
Operating margin, annual
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Annual newest first
| Period | Operating margin | Change (points) |
|---|---|---|
| FY2025 | 8.05% | (5.63) |
| FY2024 | 13.7% | (2.21) |
| FY2023 | 15.9% | (4.27) |
| FY2022 | 20.2% | 1.22 |
| FY2021 | 18.9% | 4.97 |
| FY2020 | 14.0% | 2.82 |
| FY2019 | 11.2% | 2.22 |
| FY2018 | 8.93% | (1.66) |
| FY2017 | 10.6% | (0.94) |
| FY2016 | 11.5% | 0.07 |
Quarterly newest first
| Period | Operating margin | Change (points) |
|---|---|---|
| Aug 2026 | 5.97% | 0.70 |
| May 2026 | 5.27% | 1.75 |
| Feb 2026 | 3.52% | (3.60) |
| Nov 2025 | 7.12% | (1.07) |
| 43 more quarters | Free account |
Against its own ten years
Operating margin against peers
| Company | Operating margin |
|---|---|
| NVR NVR, Inc. compare | 16.0% |
| PHM PulteGroup, Inc. compare | 15.2% |
| TOL Toll Brothers Inc. compare | 13.8% |
| IBP Installed Building Products, Inc. compare | 12.4% |
| DHI D.R. Horton, Inc. compare | 11.4% |
| CVCO Cavco Industries, Inc. compare | 9.62% |
| SKY Champion Homes, Inc. compare | 8.74% |
| LEN Lennar Corporation | 5.63% |
| LEN.B Lennar Corporation compare | 5.63% |
| Residential Construction industry median | 9.03% |
| Consumer Cyclical sector median | 3.57% |
| Market median | 0.00% |
What Operating margin is
EBIT Margin tells an investor how much operating profit, before interest and taxes, a company keeps from each unit of revenue.
EBIT ÷ Revenue
More on LEN
- Revenue
- Net income
- EPS (diluted)
- EBITDA
- Free cash flow
- Operating cash flow
- Gross 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