Lennar Corp (LEN) Financial Statements
Industry: General Bldg Contractors - Residential Bldgs
In fiscal 2025, Lennar reported revenue of $34.19B, down 3.5% from $35.44B the year before. Net income was $2.08B (a 6.1% net margin). Gross margin was 7.8% and operating margin was -1.9%. Operating activities generated $216.8M of cash, leaving $28.2M of free cash flow. At fiscal year end, Lennar held $34.43B in total assets against $12.29B in total liabilities, including $3.76B of cash and equivalents.
Open the full interactive Lennar financials → Quarterly statements, key ratios, valuation history and price charts.
Lennar Key Stats
| Share Price | $74.92 |
|---|---|
| Market Cap | $18.04B |
| P/E Ratio | 9.4 |
| Revenue YoY Growth | -3.5% |
| 52-Week Range | $73.96 – $130.21 |
| Shares Outstanding | 240.8 million (basic, 2026 Q2) |
Lennar Income Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Revenue | $22.49B | $27.13B | $33.67B | $34.23B | $35.44B | $34.19B |
| Cost of Goods Sold | $19.37B | $22.05B | $0 | $0 | $0 | $31.52B |
| Gross Profit | $3.12B | $5.08B | $33.67B | $34.23B | $35.44B | $2.67B |
| Operating Income | $3.48B | $4.68B | $6.50B | $34.23B | $35.44B | -$647.2M |
| Pre-Tax Income | $3.12B | $5.82B | $6.01B | $5.20B | $5.18B | $2.81B |
| Income Tax | $656.2M | $1.36B | $1.37B | $1.24B | $1.22B | $705.6M |
| Net Income | $2.47B | $4.43B | $4.61B | $3.94B | $3.93B | $2.08B |
| Diluted EPS | $7.85 | $14.27 | $15.72 | $13.73 | $14.31 | — |
Lennar Quarterly Results
| 2025 Q3 | 2025 Q4 | 2026 Q1 | 2026 Q2 | |
|---|---|---|---|---|
| Revenue | $8.81B | $9.37B | $6.62B | $7.94B |
| Net Income | $591.0M | $490.2M | $229.4M | $304.8M |
| Diluted EPS | $2.29 | — | $0.93 | $1.24 |
Lennar Balance Sheet
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $2.86B | $2.92B | $4.78B | $6.47B | $4.91B | $3.76B |
| Total Assets | $29.94B | $33.21B | $37.98B | $39.23B | $41.31B | $34.43B |
| Total Long-Term Debt | $7.42B | — | — | — | — | $5.87B |
| Total Liabilities | $11.84B | $12.21B | $13.74B | $12.53B | $13.29B | $12.29B |
| Shareholders' Equity | $17.99B | $20.82B | $24.10B | $26.58B | $27.87B | $21.96B |
Lennar Cash Flow Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash From Operations | $4.19B | $2.53B | $3.27B | $5.18B | $2.40B | $216.8M |
| Cash From Investing | -$280.2M | -$105.1M | -$128.3M | -$177.0M | -$302.6M | $221.6M |
| Cash From Financing | -$2.45B | -$2.40B | -$1.28B | -$3.25B | -$3.68B | -$1.60B |
| Free Cash Flow | $4.12B | $2.47B | $3.21B | $5.08B | $2.23B | $28.2M |
Figures from Lennar's 10-K and 10-Q filings with the SEC, as of 2026-10-14. Fiscal years follow the company's own reporting calendar. EPS and share counts are adjusted for later stock splits. See the full Lennar financials page for every line item.
Lennar Company Profile
| Ticker | LEN |
|---|---|
| Exchange | NYSE |
| Industry | General Bldg Contractors - Residential Bldgs |
| Headquarters | Miami, Florida |
| Incorporated in | Delaware |
| Fiscal Year End | November 30 |
| SEC Filer Category | Large accelerated filer |
| SEC CIK | 0000920760 |
Frequently Asked Questions
What was Lennar's revenue in fiscal 2025?
Lennar (LEN) reported revenue of $34.19B for fiscal 2025.
What is Lennar's annual revenue history?
Lennar's annual revenue by fiscal year: 2020: $22.49B; 2021: $27.13B; 2022: $33.67B; 2023: $34.23B; 2024: $35.44B; 2025: $34.19B.
What was Lennar's net income in fiscal 2025?
Lennar reported net income of $2.08B for fiscal 2025.
How much free cash flow did Lennar generate in fiscal 2025?
Lennar generated $28.2M of free cash flow in fiscal 2025.
What was Lennar's revenue last quarter?
In its most recent reported quarter (2026 Q2), Lennar reported revenue of $7.94B.
How much debt does Lennar have?
Lennar reported $5.87B of long-term debt, including the current portion, at the end of fiscal 2025.
How many shares of Lennar are outstanding?
Lennar reported a weighted average of 240.8 million basic shares outstanding in 2026 Q2.
What is Lennar's market cap?
Based on its latest closing price, Lennar (LEN) has a market capitalization of about $18.04B.
When does Lennar's fiscal year end?
Lennar's fiscal year end, as registered with the SEC, is November 30.
Where is Lennar headquartered?
Lennar lists its business address in Miami, Florida in its SEC filings.
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