L

LENNAR CORP /NEW/

LEN-B · CIK 0000920760

18 fiscal years · 0 SEC filings · every number carries its receipt

Revenue (FY)
$34.19B3.5%
FY2025
Net income (FY)
$2.08B47.2%
FY2025
Free cash flow (FY)
$28.2M98.7%
FY2025
Diluted EPS (FY)
$14.314.2%
FY2024
The story, charted

The shape of the business

FY2008–FY2025 · hover any year for its receipt
Revenue & net incomeRevenueNet income
$0$20BFY2008 · Revenue $4.58B · Net income −$1.11B · 0001193125-11-018957 · filed 2011-01-31FY08Revenue $4.58BNet income −$1.11B0001193125-11-018957 · filed 2011-01-31FY2009 · Revenue $3.12B · Net income −$417.1M · 0001193125-12-029792 · filed 2012-01-30FY09Revenue $3.12BNet income −$417.1M0001193125-12-029792 · filed 2012-01-30FY2010 · Revenue $3.07B · Net income $95.3M · 0001445305-13-000116 · filed 2013-01-29FY10Revenue $3.07BNet income $95.3M0001445305-13-000116 · filed 2013-01-29FY2011 · Revenue $3.10B · Net income $92.2M · 0001445305-14-000129 · filed 2014-01-28FY11Revenue $3.10BNet income $92.2M0001445305-14-000129 · filed 2014-01-28FY2012 · Revenue $4.11B · Net income $679.1M · 0001628280-15-000218 · filed 2015-01-23FY12Revenue $4.11BNet income $679.1M0001628280-15-000218 · filed 2015-01-23FY2013 · Revenue $5.94B · Net income $479.7M · 0001628280-16-010323 · filed 2016-01-22FY13Revenue $5.94BNet income $479.7M0001628280-16-010323 · filed 2016-01-22FY2014 · Revenue $7.78B · Net income $638.9M · 0001628280-17-000327 · filed 2017-01-20FY14Revenue $7.78BNet income $638.9M0001628280-17-000327 · filed 2017-01-20FY2015 · Revenue $9.47B · Net income $802.9M · 0001628280-18-000562 · filed 2018-01-25FY15Revenue $9.47BNet income $802.9M0001628280-18-000562 · filed 2018-01-25FY2016 · Revenue $10.95B · Net income $911.8M · 0001628280-19-000598 · filed 2019-01-28FY16Revenue $10.95BNet income $911.8M0001628280-19-000598 · filed 2019-01-28FY2017 · Revenue $12.65B · Net income $810.5M · 0001628280-20-000559 · filed 2020-01-27FY17Revenue $12.65BNet income $810.5M0001628280-20-000559 · filed 2020-01-27FY2018 · Revenue $20.57B · Net income $1.70B · 0001628280-21-000722 · filed 2021-01-22FY18Revenue $20.57BNet income $1.70B0001628280-21-000722 · filed 2021-01-22FY2019 · Revenue $22.26B · Net income $1.85B · 0001628280-22-001450 · filed 2022-01-28FY19Revenue $22.26BNet income $1.85B0001628280-22-001450 · filed 2022-01-28FY2020 · Revenue $22.49B · Net income $2.47B · 0001628280-22-001450 · filed 2022-01-28 · 0001628280-23-001606 · filed 2023-01-26FY20Revenue $22.49BNet income $2.47B0001628280-22-001450 · filed 2022-01-28 · 0001628280-23-001606 · filed 2023-01-26FY2021 · Revenue $27.13B · Net income $4.43B · 0001628280-24-002371 · filed 2024-01-26FY21Revenue $27.13BNet income $4.43B0001628280-24-002371 · filed 2024-01-26FY2022 · Revenue $33.67B · Net income $4.61B · 0001628280-25-002404 · filed 2025-01-23FY22Revenue $33.67BNet income $4.61B0001628280-25-002404 · filed 2025-01-23FY2023 · Revenue $34.23B · Net income $3.94B · 0001628280-26-003870 · filed 2026-01-28FY23Revenue $34.23BNet income $3.94B0001628280-26-003870 · filed 2026-01-28FY2024 · Revenue $35.44B · Net income $3.93B · 0001628280-26-003870 · filed 2026-01-28FY24Revenue $35.44BNet income $3.93B0001628280-26-003870 · filed 2026-01-28FY2025 · Revenue $34.19B · Net income $2.08B · 0001628280-26-003870 · filed 2026-01-28FY25Revenue $34.19BNet income $2.08B0001628280-26-003870 · filed 2026-01-28FY25Revenue $34.19BNet income $2.08B0001628280-26-003870 · filed 2026-01-28FY09FY11FY13FY15FY17FY19FY21FY23FY25

revenue 7.5× since FY2008 · net margin -24.2% → 6.1%

MarginsNet marginFCF margin
-20%0%20%FY2008 · Net margin -24.2%FY08Net margin -24.2%derived: net income ÷ revenueFY2009 · Net margin -13.4%FY09Net margin -13.4%derived: net income ÷ revenueFY2010 · Net margin 3.1%FY10Net margin 3.1%derived: net income ÷ revenueFY2011 · Net margin 3.0%FY11Net margin 3.0%derived: net income ÷ revenueFY2012 · Net margin 16.5%FY12Net margin 16.5%derived: net income ÷ revenueFY2013 · Net margin 8.1%FY13Net margin 8.1%derived: net income ÷ revenueFY2014 · Net margin 8.2% · FCF margin -10.4%FY14Net margin 8.2%FCF margin -10.4%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2015 · Net margin 8.5% · FCF margin -5.4%FY15Net margin 8.5%FCF margin -5.4%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2016 · Net margin 8.3% · FCF margin 3.9%FY16Net margin 8.3%FCF margin 3.9%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2017 · Net margin 6.4% · FCF margin 6.9%FY17Net margin 6.4%FCF margin 6.9%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2018 · Net margin 8.2% · FCF margin 7.6%FY18Net margin 8.2%FCF margin 7.6%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2019 · Net margin 8.3% · FCF margin 6.3%FY19Net margin 8.3%FCF margin 6.3%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2020 · Net margin 11.0% · FCF margin 18.3%FY20Net margin 11.0%FCF margin 18.3%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2021 · Net margin 16.3% · FCF margin 9.1%FY21Net margin 16.3%FCF margin 9.1%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2022 · Net margin 13.7% · FCF margin 9.5%FY22Net margin 13.7%FCF margin 9.5%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2023 · Net margin 11.5% · FCF margin 14.8%FY23Net margin 11.5%FCF margin 14.8%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2024 · Net margin 11.1% · FCF margin 6.3%FY24Net margin 11.1%FCF margin 6.3%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2025 · Net margin 6.1% · FCF margin 0.1%FY25Net margin 6.1%FCF margin 0.1%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY25Net margin 6.1%FCF margin 0.1%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenue’09’13’17’21’25

FY2025: net 6.1% · free cash flow 0.1% of revenue

Cash engineOperating cash flowFree cash flow
$0$2B$4BFY2008 · OCF $1.10B · 0001193125-11-018957 · filed 2011-01-31FY08OCF $1.10B0001193125-11-018957 · filed 2011-01-31FY2009 · OCF $420.8M · 0001193125-12-029792 · filed 2012-01-30FY09OCF $420.8M0001193125-12-029792 · filed 2012-01-30FY2010 · OCF $274.2M · 0001445305-13-000116 · filed 2013-01-29FY10OCF $274.2M0001445305-13-000116 · filed 2013-01-29FY2011 · OCF −$259.1M · 0001445305-14-000129 · filed 2014-01-28FY11OCF −$259.1M0001445305-14-000129 · filed 2014-01-28FY2012 · OCF −$424.6M · 0001628280-15-000218 · filed 2015-01-23FY12OCF −$424.6M0001628280-15-000218 · filed 2015-01-23FY2013 · OCF −$807.7M · 0001628280-16-010323 · filed 2016-01-22FY13OCF −$807.7M0001628280-16-010323 · filed 2016-01-22FY2014 · OCF −$788.5M · FCF −$811.1M · 0001628280-17-000327 · filed 2017-01-20FY14OCF −$788.5MFCF −$811.1M0001628280-17-000327 · filed 2017-01-20FY2015 · OCF −$419.6M · FCF −$511.0M · 0001628280-18-000562 · filed 2018-01-25FY15OCF −$419.6MFCF −$511.0M0001628280-18-000562 · filed 2018-01-25FY2016 · OCF $507.8M · FCF $431.4M · 0001628280-19-000598 · filed 2019-01-28FY16OCF $507.8MFCF $431.4M0001628280-19-000598 · filed 2019-01-28FY2017 · OCF $982.4M · FCF $870.6M · 0001628280-20-000559 · filed 2020-01-27FY17OCF $982.4MFCF $870.6M0001628280-20-000559 · filed 2020-01-27FY2018 · OCF $1.69B · FCF $1.56B · 0001628280-21-000722 · filed 2021-01-22FY18OCF $1.69BFCF $1.56B0001628280-21-000722 · filed 2021-01-22FY2019 · OCF $1.48B · FCF $1.40B · 0001628280-22-001450 · filed 2022-01-28FY19OCF $1.48BFCF $1.40B0001628280-22-001450 · filed 2022-01-28FY2020 · OCF $4.19B · FCF $4.12B · 0001628280-23-001606 · filed 2023-01-26FY20OCF $4.19BFCF $4.12B0001628280-23-001606 · filed 2023-01-26FY2021 · OCF $2.53B · FCF $2.47B · 0001628280-24-002371 · filed 2024-01-26FY21OCF $2.53BFCF $2.47B0001628280-24-002371 · filed 2024-01-26FY2022 · OCF $3.27B · FCF $3.21B · 0001628280-25-002404 · filed 2025-01-23FY22OCF $3.27BFCF $3.21B0001628280-25-002404 · filed 2025-01-23FY2023 · OCF $5.18B · FCF $5.08B · 0001628280-26-003870 · filed 2026-01-28FY23OCF $5.18BFCF $5.08B0001628280-26-003870 · filed 2026-01-28FY2024 · OCF $2.40B · FCF $2.23B · 0001628280-26-003870 · filed 2026-01-28FY24OCF $2.40BFCF $2.23B0001628280-26-003870 · filed 2026-01-28FY2025 · OCF $216.8M · FCF $28.2M · 0001628280-26-003870 · filed 2026-01-28FY25OCF $216.8MFCF $28.2M0001628280-26-003870 · filed 2026-01-28FY25OCF $216.8MFCF $28.2M0001628280-26-003870 · filed 2026-01-28’09’13’17’21’25

FY2025: $216.8M operating cash − $188.6M capex = $28.2M free cash flow

Returns on capitalReturn on equityReturn on assets
0%20%FY2009 · ROE -17.1% · ROA -5.7%FY09ROE -17.1%ROA -5.7%derived: net income ÷ equity · derived: net income ÷ assetsFY2010 · ROE 3.7% · ROA 1.1%FY10ROE 3.7%ROA 1.1%derived: net income ÷ equity · derived: net income ÷ assetsFY2011 · ROE 3.4% · ROA 1.0%FY11ROE 3.4%ROA 1.0%derived: net income ÷ equity · derived: net income ÷ assetsFY2012 · ROE 19.9% · ROA 6.6%FY12ROE 19.9%ROA 6.6%derived: net income ÷ equity · derived: net income ÷ assetsFY2013 · ROE 11.5% · ROA 4.3%FY13ROE 11.5%ROA 4.3%derived: net income ÷ equity · derived: net income ÷ assetsFY2014 · ROE 13.2% · ROA 4.9%FY14ROE 13.2%ROA 4.9%derived: net income ÷ equity · derived: net income ÷ assetsFY2015 · ROE 14.2% · ROA 5.6%FY15ROE 14.2%ROA 5.6%derived: net income ÷ equity · derived: net income ÷ assetsFY2016 · ROE 13.0% · ROA 5.9%FY16ROE 13.0%ROA 5.9%derived: net income ÷ equity · derived: net income ÷ assetsFY2017 · ROE 10.3% · ROA 4.3%FY17ROE 10.3%ROA 4.3%derived: net income ÷ equity · derived: net income ÷ assetsFY2018 · ROE 11.6% · ROA 5.9%FY18ROE 11.6%ROA 5.9%derived: net income ÷ equity · derived: net income ÷ assetsFY2019 · ROE 11.6% · ROA 6.3%FY19ROE 11.6%ROA 6.3%derived: net income ÷ equity · derived: net income ÷ assetsFY2020 · ROE 13.7% · ROA 8.2%FY20ROE 13.7%ROA 8.2%derived: net income ÷ equity · derived: net income ÷ assetsFY2021 · ROE 21.3% · ROA 13.3%FY21ROE 21.3%ROA 13.3%derived: net income ÷ equity · derived: net income ÷ assetsFY2022 · ROE 19.1% · ROA 12.1%FY22ROE 19.1%ROA 12.1%derived: net income ÷ equity · derived: net income ÷ assetsFY2023 · ROE 14.8% · ROA 10.0%FY23ROE 14.8%ROA 10.0%derived: net income ÷ equity · derived: net income ÷ assetsFY2024 · ROE 14.1% · ROA 9.5%FY24ROE 14.1%ROA 9.5%derived: net income ÷ equity · derived: net income ÷ assetsFY2025 · ROE 9.5% · ROA 6.0%FY25ROE 9.5%ROA 6.0%derived: net income ÷ equity · derived: net income ÷ assetsFY25ROE 9.5%ROA 6.0%derived: net income ÷ equity · derived: net income ÷ assets’09’13’17’21’25

return on equity -17% (FY2009) → 9% (FY2025) · on assets 6.0%

Balance sheetLiabilitiesEquity
$0$20B$40BFY2009 · Liabilities $4.73B · Equity $2.44BFY09Liabilities $4.73BEquity $2.44B0001193125-11-018957 · filed 2011-01-31FY2010 · Liabilities $5.59B · Equity $2.61BFY10Liabilities $5.59BEquity $2.61B0001193125-12-029792 · filed 2012-01-30FY2011 · Liabilities $5.85B · Equity $2.70BFY11Liabilities $5.85BEquity $2.70B0001445305-13-000116 · filed 2013-01-29FY2012 · Liabilities $6.36B · Equity $3.41BFY12Liabilities $6.36BEquity $3.41B0001445305-14-000129 · filed 2014-01-28FY2013 · Liabilities $6.65B · Equity $4.17BFY13Liabilities $6.65BEquity $4.17B0001628280-15-000218 · filed 2015-01-23FY2014 · Liabilities $7.67B · Equity $4.83BFY14Liabilities $7.67BEquity $4.83B0001628280-16-010323 · filed 2016-01-22FY2015 · Liabilities $8.47B · Equity $5.65BFY15Liabilities $8.47BEquity $5.65B0001628280-17-000327 · filed 2017-01-20FY2016 · Liabilities $8.15B · Equity $7.03BFY16Liabilities $8.15BEquity $7.03B0001628280-18-000562 · filed 2018-01-25FY2017 · Liabilities $10.76B · Equity $7.87BFY17Liabilities $10.76BEquity $7.87B0001628280-19-000598 · filed 2019-01-28FY2018 · Liabilities $13.88B · Equity $14.58BFY18Liabilities $13.88BEquity $14.58B0001628280-20-000559 · filed 2020-01-27FY2019 · Liabilities $13.33B · Equity $15.95BFY19Liabilities $13.33BEquity $15.95B0001628280-21-000722 · filed 2021-01-22FY2020 · Liabilities $11.84B · Equity $17.99BFY20Liabilities $11.84BEquity $17.99B0001628280-22-001450 · filed 2022-01-28FY2021 · Liabilities $12.21B · Equity $20.82BFY21Liabilities $12.21BEquity $20.82B0001628280-23-001606 · filed 2023-01-26FY2022 · Liabilities $13.74B · Equity $24.10BFY22Liabilities $13.74BEquity $24.10B0001628280-24-002371 · filed 2024-01-26FY2023 · Liabilities $12.53B · Equity $26.58BFY23Liabilities $12.53BEquity $26.58B0001628280-25-002404 · filed 2025-01-23FY2024 · Liabilities $13.29B · Equity $27.87BFY24Liabilities $13.29BEquity $27.87B0001628280-26-003870 · filed 2026-01-28FY2025 · Liabilities $12.29B · Equity $21.96BFY25Liabilities $12.29BEquity $21.96B0001628280-26-003870 · filed 2026-01-28FY25Liabilities $12.29BEquity $21.96B0001628280-26-003870 · filed 2026-01-28’09’13’17’21’25

FY2025: $34.43B assets · $12.29B liabilities · $21.96B equity

The receipts