LEN Financials Lennar

15 years of revenue, profit, cash flow and balance-sheet history through FY2025, from SEC filings — with a computed, factual read of the trend. Updated 76 d ago Overview →

Growth & profitability

Revenue has grown 8.7% per year over the past 5 years.
Net income has grown slower than revenue (-3.4% vs 8.7% per year).
Free cash flow has declined 63.1% per year over the past 5 years.

Financial health

Total debt ($5.9B) exceeds cash ($3.8B); net debt is $2.0B.
Total debt has grown slower than revenue (-4.6% vs 8.7% per year).

Shareholder returns

Dividends have been paid for 15 consecutive years, consuming 25.1% of earnings and 1848.5% of free cash flow.
The dividend has grown 21.7% per year over the past 5 years.

Revenue & net income

RevenueNet income

Margins (gross / operating / net)

GrossOperatingNet

Return on equity & assets (ROE / ROA)

ROEROA

Free cash flow (CFO − capex)

Free cash flow

Cash vs total debt

CashTotal debt

Cash flow: operating / investing / financing

OperatingInvestingFinancing

Key annual figures

FY	Revenue	Net income	Gross M	Op M	ROE	ROA	FCF	Total debt	Cash
2025	$34.2B	$2.1B	0.0%	0.0%	9.5%	6.0%	$28M	$5.9B	$3.8B
2024	$35.4B	$3.9B	0.0%	0.0%	14.1%	9.5%	$2.2B	$4.2B	$5.0B
2023	$34.2B	$3.9B	0.0%	0.0%	14.8%	10.0%	$5.1B	—	$6.6B
2022	$33.7B	$4.6B	0.0%	0.0%	19.1%	12.1%	$3.2B	—	$4.8B
2021	$27.1B	$4.4B	0.0%	0.0%	21.3%	13.3%	$2.5B	—	$3.0B
2020	$22.5B	$2.5B	0.0%	15.5%	13.7%	8.2%	$4.1B	$7.4B	$2.9B
2019	$22.3B	$1.8B	0.0%	12.5%	11.6%	6.3%	$1.4B	$9.6B	$1.5B
2018	$20.6B	$1.7B	0.0%	12.0%	11.6%	5.9%	$1.6B	—	$1.6B
2017	$12.6B	$810M	0.0%	11.7%	10.3%	4.3%	$871M	—	$2.7B
2016	$10.9B	$912M	0.0%	14.3%	13.0%	5.9%	$431M	—	$1.4B
2015	$9.5B	$803M	0.0%	15.1%	14.2%	5.6%	-$511M	—	—
2014	$7.8B	$639M	0.0%	14.7%	13.2%	4.9%	-$811M	—	—
2013	$5.9B	$480M	0.0%	14.0%	11.5%	4.3%	—	—	—
2012	$4.1B	$679M	0.0%	8.5%	19.9%	6.6%	—	—	—
2011	$3.1B	$92M	0.0%	6.2%	3.4%	1.0%	—	—	—

Revenue & net income

RevenueNet income

Margins (gross / operating / net)

GrossOperatingNet

Return on equity & assets (ROE / ROA)

ROEROA

Free cash flow (CFO − capex, quarterly)

Free cash flow

Cash vs total debt

CashTotal debt

Cash flow: operating / investing / financing

OperatingInvestingFinancing

Key quarterly figures

Quarter	Revenue	Net income	Gross M	Op M	ROE	ROA	FCF	Total debt	Cash
May '26	$7.9B	$305M	0.0%	0.0%	1.4%	0.9%	-$303M	—	$2.2B
Feb '26	$6.6B	$229M	0.0%	0.0%	1.0%	0.7%	-$463M	—	$2.4B
Nov '25	$9.4B	$490M	0.0%	0.0%	2.2%	1.4%	$1.7B	$5.9B	$3.8B
Aug '25	$8.8B	$591M	0.0%	0.0%	2.6%	1.7%	-$191M	—	$1.8B
May '25	$8.4B	$477M	0.0%	0.0%	2.1%	1.4%	-$1.1B	—	$1.5B
Feb '25	$7.6B	$520M	0.0%	0.0%	2.3%	1.5%	-$345M	—	$2.6B
Nov '24	$9.9B	$1.1B	0.0%	0.0%	3.9%	2.7%	$933M	$4.2B	$5.0B
Aug '24	$9.4B	$1.2B	0.0%	0.0%	4.2%	2.9%	$801M	—	$4.3B
May '24	$8.8B	$954M	0.0%	0.0%	3.6%	2.5%	$203M	—	$3.9B
Feb '24	$7.3B	$719M	0.0%	0.0%	2.7%	1.8%	$295M	—	$5.3B
Nov '23	$11.0B	$1.4B	0.0%	0.0%	5.1%	3.5%	$2.5B	—	$6.6B
Aug '23	$8.7B	$1.1B	0.0%	0.0%	4.3%	3.0%	$930M	—	$4.1B
May '23	$8.0B	$872M	0.0%	0.0%	3.5%	2.4%	$635M	—	$4.3B
Feb '23	$6.5B	$597M	0.0%	0.0%	2.4%	1.6%	$973M	—	$4.3B
Nov '22	$10.2B	$1.3B	0.0%	0.0%	5.5%	3.5%	$2.7B	—	$4.8B
Aug '22	$8.9B	$1.5B	0.0%	0.0%	6.4%	4.2%	$482M	—	$1.6B
May '22	$8.4B	$1.3B	0.0%	0.0%	6.1%	3.8%	$120M	—	$1.6B
Feb '22	$6.2B	$504M	0.0%	12.9%	2.4%	1.5%	-$78M	—	$1.6B
Nov '21	$8.4B	$1.2B	0.0%	0.0%	5.7%	3.6%	$1.2B	—	$3.0B
Aug '21	$6.9B	$1.4B	0.0%	27.7%	6.8%	4.3%	$579M	$6.7B	$2.8B

Valuation over time

How the market has priced LEN against its own fundamentals since 2023-03 — each month-end's share price set against the most recent annual filing, so the multiple moves as price runs ahead of (or behind) earnings. Split-adjusted.

The price-to-earnings ratio has risen from 5.5× (Mar '23) to 9.9× (Sep '26).
The price-to-sales ratio has fallen from 0.8× (Mar '23) to 0.6× (Sep '26).
The dividend yield has risen from 1.7% (Mar '23) to 2.5% (Sep '26).

Price / earnings (P/E)

P/E

Price / sales (P/S)

P/S

Dividend yield (%)

Dividend yield %

Frequently asked questions

Is LEN growing its revenue and profit?

Over the past 5 years, Lennar's revenue has grown 8.7% per year, and net income declined 3.4% per year. These are computed facts, not advice.

How much debt does LEN have?

As of FY2025, Lennar reported $5.9B of total debt against $3.8B of cash.

What is LEN's profit margin?

In FY2025, gross margin was —, operating margin —, and net margin 6.1%.

What is LEN's P/E ratio?

As of Sep '26, Lennar traded at a price-to-earnings ratio of about 9.9× (market cap ÷ latest annual net income). The valuation charts above show how its P/E, P/S and dividend yield have moved with the share price. These are computed facts, not advice.

Where does this data come from?

All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.

Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), corporate-action-adjusted · growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price against the latest annual filing. Informational only — not investment advice.