LEN Consumer Cyclical

Lennar Corporation

$86.09-5.42%

Price as of close on Nov 3, 2026 · Financials updated Oct 9, 2026

Basics

Sector: Consumer Cyclical
Industry: Residential Construction
Country: United States
Market cap: 20.5B USD
Enterprise value: 22.7B USD
Full-time employees: 12,532

Overall health

Strength: lower risk than most peers: more short-term liquidity and less debt relative to equitylower risk: more liquidity and less debt vs equity
Drawback: growing more slowly than most peersgrowing more slowly than peers
Drawback: its share price swings more than most peers’ (beta 1.38 vs a peer median of 0.63)bigger price swings (beta 1.38 vs peers 0.63)
About average: profitability and valuation

Ranks #797 of 1,502 consumer cyclical companies (bottom 48%)

See how it ranks against its peers

Worth knowing

Operating margin at a 6-year low. 8.4% in FY Nov 2025, the weakest of the last 6 years.
Lennar's operating margin fell to 8.4% in FY Nov 2025, its lowest in the 6 years of filings we have.
Sales growing faster than profits. Since FY Nov 2022: revenue +1.5%, operating profit −52%.
Since FY Nov 2022, Lennar's revenue changed +1.5% while operating profit fell 52%: costs rose faster than sales.
Revenue is falling. Revenue fell 8.0% in the 12 months to August 2026 vs the 12 months before.
Lennar's revenue fell 8.0% in the 12 months to August 2026 vs the 12 months before.
More volatile share price. Beta 1.38: tends to move more than the market.
Lennar's shares have swung more with the market than most peers' (beta 1.38, above the market's 1.0).

StockQuotient Score

50/ 100

Oct 5 49 → Nov 4 50 (+1)

Valuation

Is the price right?

48/100

Moderate

3/3 inputs reported · High confidence

Since last quarter: No major changeValuation also moves with the share price every day.

Why

Mixed versus peers:

▲ Earnings yield
▼ FCF yield

Compare with peers

Behind the score

Sector-normalized EBITDA, earnings, and free cash flow yields.

Earnings yield6.4%

SEC filings · 12 months to Aug 2026Reported value30% base weight · Z-score 0.61Sector median: 0.0439 · MAD: 0.0329

EBITDA yield7.8%

Yahoo Finance fallback · SEC enterprise value unavailable (debt or EBITDA not reported in standard form) · trailing 12 monthsReported value50% base weight · Z-score -0.22Sector median: 0.0877 · MAD: 0.0461

Free cash flow yield4.0%

SEC filings · 12 months to Aug 2026 · operating cash flow − capital spendingReported value20% base weight · Z-score -0.40Sector median: 0.0614 · MAD: 0.0545

Other data (not scored)

Book yield105.3%

SEC filings · latest balance sheetReported valueInformational · 0% composite weightSector median: 0.5650 · MAD: 0.3500

Growth

Is it growing?

12/100

Weak

3/3 inputs reported · High confidence

Since last quarter: ▼ Weaker

12-month revenue fell 2.3%

Why

Weaker than most peers on:

▼ EPS growth
▼ Revenue growth
▼ 3-yr revenue

Compare with peers

Behind the score

Revenue and earnings-per-share growth over one year, and revenue growth over three years.

Earnings per share growth-47.6%

SEC filings · 12 months to Aug 2026Reported value33% base weight · Z-score -2.04Sector median: 0.0420 · MAD: 0.2537

3-year revenue growth-1.5%

SEC filings · 3 years to Aug 2026Reported value33% base weight · Z-score -0.90Sector median: 0.0425 · MAD: 0.0636

Revenue growth-8.0%

SEC filings · 12 months to Aug 2026Reported value33% base weight · Z-score -1.80Sector median: 0.0373 · MAD: 0.0653

Profitability

Does it earn well?

51/100

Moderate

3/3 inputs reported · High confidence

Since last quarter: No major change

Why

Close to the peer norm on every measure.

Compare with peers

Behind the score

Return on invested capital, operating margin, and return on assets.

Operating margin8.0%

Yahoo Finance fallback · SEC operating income not reported in standard form · fiscal year to Nov 2025Reported value33% base weight · Z-score 0.36Sector median: 0.0638 · MAD: 0.0461

Return on assets3.9%

SEC filings · 12 months to Aug 2026Reported value33% base weight · Z-score 0.22Sector median: 0.0331 · MAD: 0.0254

Return on invested capital6.1%

Yahoo Finance fallback · SEC operating income or invested capital unavailable · trailing 12 monthsReported value33% base weight · Z-score -0.21Sector median: 0.0733 · MAD: 0.0600

Other data (not scored)

Gross margin16.0%

Yahoo Finance fallback · SEC figure unavailable or out of date · trailing 12 monthsReported valueInformational · 0% composite weightSector median: 0.3025 · MAD: 0.1399

Return on equity6.1%

SEC filings · 12 months to Aug 2026Reported valueInformational · 0% composite weightSector median: 0.0746 · MAD: 0.0674

Risk

Debt, liquidity, price swings

Lower

Lower relative risk

3/3 inputs reported · High confidence

Since last quarter: No major change

Why

Stronger than most peers on:

▲ Current ratio
▲ Debt / equity

Compare with peers

Behind the score

Relative to sector peers: 0 = lower relative risk · 1 = moderate · 2 = higher. Based on leverage, beta and liquidity.

Beta1.38

Yahoo Finance · 5-year monthly beta vs the marketReported value33% base weight · Z-score -2.49Sector median: 0.6345 · MAD: 0.2980

Current ratio10.13×

Yahoo Finance fallback · SEC figure unavailable or out of dateOutlier capped at sector 5th/95th percentile33% base weight · Z-score 6.28Sector median: 1.4800 · MAD: 0.5570

Debt / equity0.27×

SEC filings · latest balance sheetReported value33% base weight · Z-score 0.55Sector median: 0.4646 · MAD: 0.3556

Valuation, growth and profitability scores: higher is better. Risk: 0 is lower, 2 is higher. Risk is a relative proxy, not a bankruptcy probability. Scores depend on available sector peers.

Questions investors ask about Lennar

Is Lennar getting weaker?: Its latest SEC filing (Oct 2, 2026) got weaker in some ways: 12-month revenue fell 2.3%. Its overall score is unchanged at 50/100 since Oct 28, 2026.
How is Lennar valued vs its peers?: Priced about in line with its peers. Valuation scores 48/100 against 1,612 consumer cyclical peers. Earnings yield 6.4% vs a peer median of 4.4% (stronger than 68% of peers).Earnings yield 6.4% vs peers 4.4% (stronger than 68% of peers). Free cash flow yield 4.0% vs a peer median of 6.1% (weaker than 63% of peers).Free cash flow yield 4.0% vs peers 6.1% (weaker than 63% of peers).
Is Lennar growing?: More slowly than most of its peers. Growth scores 12/100 against 1,612 consumer cyclical peers. Earnings per share growth -47.6% vs a peer median of 4.2% (weaker than 88% of peers).Earnings per share growth -47.6% vs peers 4.2% (weaker than 88% of peers).
How profitable is Lennar?: About as profitable as its peers. Profitability scores 51/100 against 1,612 consumer cyclical peers.
How risky is Lennar?: Lower risk relative to 1,612 consumer cyclical peers, judged on debt, liquidity and share-price swings. Current ratio 10.13× vs a peer median of 1.48× (stronger than 95% of peers).Current ratio 10.13× vs peers 1.48× (stronger than 95% of peers). Beta 1.38 vs a peer median of 0.63 (weaker than 89% of peers).Beta 1.38 vs peers 0.63 (weaker than 89% of peers). A relative measure, not a bankruptcy probability.

Latest filing: what changed

Quarter ended Aug 31, 2026 · filed Oct 2, 2026 · compared with the quarter ended May 31, 2026

Got weaker

12-month revenue fell 2.3%

	Previous quarter	Latest quarter	Change
Revenue (12 months)	32.7B USD	32.0B USD	−2.3%
Net income (12 months)	1.6B USD	1.3B USD	−19.0%
Free cash flow (12 months)	716.8M USD	811.3M USD	+13.2%
Cash	2.2B USD	1.5B USD	−31.0%

From the company’s own SEC filings, as filed. Twelve-month figures roll forward one quarter at a time.

Industry valuation context

Sector: Consumer Cyclical · 182 companies

Valuations in Consumer Cyclical are within their usual range since 2016.

36% of months since 2016 were valued lower than now.
15% of companies are in the most expensive fifth of their own price-to-sales history.
Over 24 months, company values +0% and earnings +10% (medians): prices and earnings moved broadly together.
Median price-to-sales is −55% vs the whole market, against a usual −41%.

2016Shaded: most expensive fifth of its range2026

Shown for Consumer Cyclical: too few Residential Construction companies have a long enough history of their own.

Financials

Fiscal years from SEC annual filings · change vs the prior year

Key ratios	FY Nov 2021	FY Nov 2022	FY Nov 2023	FY Nov 2024	FY Nov 2025	Change
Operating margin	20.8%	17.9%	15.1%	14.0%	8.4%	▼ 5.6 pts
Net margin	16.3%	13.7%	11.5%	11.1%	6.1%	▼ 5.0 pts
Return on assets (ROA)	13.3%	12.1%	10.0%	9.5%	6.0%	▼ 3.5 pts
Return on equity (ROE)	21.3%	19.1%	14.8%	14.1%	9.5%	▼ 4.6 pts
Free cash flow margin	9.1%	9.5%	14.8%	6.3%	0.1%	▼ 6.2 pts
Debt to equity	—	—	—	0.15×	0.27×	▲ 78%

LEN price history

Price history is added with the daily price update and will appear after the next one.

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Bringing the fundamentals into focus…

Overall health

Strength: lower risk than most peers: more short-term liquidity and less debt relative to equitylower risk: more liquidity and less debt vs equity

Drawback: growing more slowly than most peersgrowing more slowly than peers

Drawback: its share price swings more than most peers’ (beta 1.38 vs a peer median of 0.63)bigger price swings (beta 1.38 vs peers 0.63)

About average: profitability and valuation

Ranks #797 of 1,502 consumer cyclical companies (bottom 48%)

See how it ranks against its peers

Worth knowing

Operating margin at a 6-year low. 8.4% in FY Nov 2025, the weakest of the last 6 years.

Lennar's operating margin fell to 8.4% in FY Nov 2025, its lowest in the 6 years of filings we have.

Sales growing faster than profits. Since FY Nov 2022: revenue +1.5%, operating profit −52%.

Since FY Nov 2022, Lennar's revenue changed +1.5% while operating profit fell 52%: costs rose faster than sales.

Revenue is falling. Revenue fell 8.0% in the 12 months to August 2026 vs the 12 months before.

Lennar's revenue fell 8.0% in the 12 months to August 2026 vs the 12 months before.

More volatile share price. Beta 1.38: tends to move more than the market.

Lennar's shares have swung more with the market than most peers' (beta 1.38, above the market's 1.0).

Questions investors ask about Lennar

Is Lennar getting weaker?

Its latest SEC filing (Oct 2, 2026) got weaker in some ways: 12-month revenue fell 2.3%. Its overall score is unchanged at 50/100 since Oct 28, 2026.

How is Lennar valued vs its peers?

Priced about in line with its peers. Valuation scores 48/100 against 1,612 consumer cyclical peers. Earnings yield 6.4% vs a peer median of 4.4% (stronger than 68% of peers).Earnings yield 6.4% vs peers 4.4% (stronger than 68% of peers). Free cash flow yield 4.0% vs a peer median of 6.1% (weaker than 63% of peers).Free cash flow yield 4.0% vs peers 6.1% (weaker than 63% of peers).

Is Lennar growing?

More slowly than most of its peers. Growth scores 12/100 against 1,612 consumer cyclical peers. Earnings per share growth -47.6% vs a peer median of 4.2% (weaker than 88% of peers).Earnings per share growth -47.6% vs peers 4.2% (weaker than 88% of peers).

How profitable is Lennar?

About as profitable as its peers. Profitability scores 51/100 against 1,612 consumer cyclical peers.

How risky is Lennar?

Lower risk relative to 1,612 consumer cyclical peers, judged on debt, liquidity and share-price swings. Current ratio 10.13× vs a peer median of 1.48× (stronger than 95% of peers).Current ratio 10.13× vs peers 1.48× (stronger than 95% of peers). Beta 1.38 vs a peer median of 0.63 (weaker than 89% of peers).Beta 1.38 vs peers 0.63 (weaker than 89% of peers). A relative measure, not a bankruptcy probability.

Previous quarter

Latest quarter

Change

Revenue (12 months)

32.7B USD

32.0B USD

−2.3%

Net income (12 months)

1.6B USD

1.3B USD

−19.0%

Free cash flow (12 months)

716.8M USD

811.3M USD

+13.2%

Cash

2.2B USD

1.5B USD

−31.0%

Key ratios

FY Nov 2021

FY Nov 2022

FY Nov 2023

FY Nov 2024

FY Nov 2025

Change

Operating margin

20.8%

17.9%

15.1%

14.0%

8.4%

▼ 5.6 pts

Net margin

16.3%

13.7%

11.5%

11.1%

6.1%

▼ 5.0 pts

Return on assets (ROA)

13.3%

12.1%

10.0%

9.5%

6.0%

▼ 3.5 pts

Return on equity (ROE)

21.3%

19.1%

14.8%

14.1%

9.5%

▼ 4.6 pts

Free cash flow margin

9.1%

9.5%

14.8%

6.3%

0.1%

▼ 6.2 pts

Debt to equity

—

0.15×

0.27×

▲ 78%