Lennar Corporation (LEN)

NYSE: LEN · USD

$83.3

-1.29 (-1.5%)· Recorded snapshot

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StockMarketAgent Research · Analyzed 2026-10-11

Our latest published analysis: LEN rated Buy

Lennar Corporation's published Buy conclusion compares the analysis-date price with fair value and potential value. Read the full report for assumptions, evidence, and material risks.

Fair value

$91.1 / share

Potential value

$170 / share

Upside to FV

+18.7%

from $83.3

Moat

5.5/10

Narrow

Read full analysis →View archive · 24mo

9-phase methodology · same model in each published edition

Market cap	$18.2B
Revenue (ttm)	32B
Net income (ttm)	1.3B
EPS (ttm)	$5.31
Shares out	237.9M
P/E (trailing)	15.7x
P/E (forward)	15.7x
Dividend	$2.00 (2.40%)
Volume	1,595,685
Beta	1.38

Market data

Price

Recent price action with selectable time range.

Financial snapshot

Revenue (ttm): 32B
Net income (ttm): 1.3B
EPS (ttm): $5.31
P/E (trailing): 15.7x
P/E (forward): 15.7x
Market cap: $18.2B

Item	P1	P2	P3	P4	P5	Trend
Period	2021-11-30	2022-11-30	2023-11-30	2024-11-30	2025-11-30	Trend
Revenue	$27.13B	$33.67B	$34.23B	$35.44B	$34.19B	+5.9%
Gross profit	$5.54B	$7.20B	$33.98B	$5.50B	$3.39B	-11.6%
Operating income	$5.79B	$5.98B	$5.53B	$5.20B	$2.83B	-16.4%
Net income	$4.43B	$4.61B	$3.94B	$3.93B	$2.08B	-17.2%
EPS (diluted)	$13.81	$15.72	$13.73	$14.31	$8.15	-12.4%
EBITDA	$5.88B	$6.07B	$5.53B	$5.32B	$2.96B	-15.7%
R&D	—	—	—	—	—	—
SG&A	$398.4M	$414.5M	$2.23B	$2.48B	$2.68B	+61.0%

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ANET	Arista Networks Inc.	235.7B	59.1x	22.4x	284.8%	+32.0%	+19.7%	매도
ABNB	Airbnb, Inc.	97.8B	37.5x	7.4x	16.8%	+24.4%	+28.5%	매도
AMZN	Amazon.com Inc.	2.7T	20.5x	3.5x	11.9%	+11.8%	+12.2%	매도
APTV	Aptiv PLC	9.1B	42.8x	0.4x	7.8%	+5.5%	-49.2%	매수

Base and Bull scenarios

Base55%

Price target

$91.06

+18.7% from spot

Our Base case projects Lennar achieving a target of $91.06 with an estimated probability of 55.0% and an implied return of 18.7% relative to $76.69. In this trajectory, mortgage rates settle into a predictable range, allowing financing buydown concessions to gradually moderate while delivery volumes hold steady through even-flow community production. Construction cycle times benefit from advance subcontractor scheduling, stabilizing gross margins and enabling disciplined off-balance-sheet land option conversions to generate sustained cash flow for ongoing share repurchases and balance sheet strength.

Mortgage interest rates stabilize within a predictable range, allowing rate buydown incentives to moderate gradually.
Even-flow community production maintains steady delivery volume alongside controlled construction cycle times.
Disciplined off-balance-sheet land optioning preserves cash flow conversion and supports steady share repurchases.

Bull20%

Price target

$170.23

+122.0% from spot

Our Bull case establishes a Potential value target of $170.23 with an estimated probability of 20.0% and an implied return of 122.0% against $76.69. This path is driven by an accelerated easing of monetary policy and lower mortgage interest rates, which rapidly eliminates the need for expensive mortgage rate buydowns. Expanding homebuyer demand accelerates delivery volumes, while national purchasing power and local submarket scale widen gross margins back toward historical peak levels, driving compounding free cash flow.

Accelerated monetary policy easing lowers mortgage rates and curtails the need for financing buydown concessions.
Expanding homebuyer demand accelerates community absorption velocity and delivery growth across core metropolitan submarkets.
Scale advantages and subcontractor pricing leverage drive gross margins toward previous cyclical highs.

Sensitivity: Ke × terminal growth

The highlighted cell is Fair value when every assumption sits at its base level ($91.06). Each row and column shows what Fair value becomes when one assumption moves.

Ke ↓ / g →	1.5%	1.8%	2.0%	2.3%	2.5%
7.7%	$98.9	$102	$105	$108	$112
8.2%	$92.5	$94.8	$97.3	$100	$103
8.7%	$87.1	$89.0	$91.1	$93.4	$95.8
9.2%	$82.4	$84.0	$85.7	$87.6	$89.7
9.7%	$78.3	$79.7	$81.2	$82.7	$84.5

Scorecard

Published factor rows and weighted composite

Calendar

Next earnings

Upcoming earnings date and setup when available.

Upcoming

DateLoading

Window—

EPS estimate—

Revenue estimate—

Sector percentile context

Refreshed 2026-10-28 19:55 UTC

Forward P/E15.7

P25 n/aP50 n/aP75 n/a

Trailing P/E14.5

P25 n/aP50 n/aP75 n/a

ROE6

P25 n/aP50 n/aP75 n/a

ROIC5.2

P25 n/aP50 n/aP75 n/a

Benchmarks · 1M

All LEN indicators

Market & fundamental data

Available fields

282

Groups with data

Currency

USD

Showing 282 of 282 available metrics for this ticker.

Profile and market data

Ticker identity, listing, currency, market cap, and source dates.

Metric	Value
Amount currency	USD
CIK code	0000920760
Company name	Lennar Corporation
Country	United States
Country code	US
CUSIP number	526057104
Earnings date	2026-12-15
Earnings time	amc
Employees	12,532
Employees change	-733
Employees growth	-5.53%
Enterprise value	$24.7B
Exchange	NYSE
Financial currency	USD
Financial report date	2026-08-31
First seen	2026-05-09
Fiscal year end	November
Founded	1954
In index	SP500
Industry	Residential Construction
Is primary listing	Yes
Is SPAC	No
ISIN number	US5260571048
Last 10-K release date	2026-01-28
Last earnings date	2026-09-16
Last refreshed	2026-10-28
Last stock split date	2017-11-09
Last stock split type	Forward
Market cap	$19.8B
Market cap category	Large-Cap
Next earnings date	2026-12-15
Options	Yes
Price	$83.29
Price currency	USD
Sector	Consumer Discretionary
SIC code	1520
Stock price date	2026-10-28
Symbol	LEN
U.S. state	Florida
Website	https://www.lennar.com

Valuation

Multiples, yields, enterprise-value ratios, and valuation checks.

Metric	Value
Adjusted P/E ratio	15.28x
Average P/E ratio (10Y)	10.68x
Average P/E ratio (3Y)	12.16x
Average P/E ratio (5Y)	9.88x
Earnings yield	6.37%
EV/Earnings	19.31x
EV/EBIT	13.58x
EV/EBITDA	12.62x
EV/FCF	30.84x
EV/Sales	0.78x
FCF / EV yield	3.24%
FCF yield	4.04%
Forward EV/Sales	0.77x
Forward P/E	17.55x
Forward P/S	0.62x
Graham number	104.02042
Graham upside	23.13%
Industry forward P/E	14.46x
Industry P/E	13.79x
Lynch fair value	$26.53
Lynch upside	-68.59%
P/(FCF - SBC) ratio	30.08x
P/(OCF - SBC) ratio	25.3x
P/B ratio	0.93x
P/E ratio	15.7x
P/FCF ratio	24.77x
P/OCF ratio	21.44x
P/S ratio	0.63x
Price / tangible book value	1.12x
Price/EBITDA ratio	10.14x
Sector forward P/E	24.43x
Sector P/E	30.53x

Profitability

Margins, returns on capital, cash conversion, and quality metrics.

Metric	Value
EBIT margin	5.76%
EBITDA margin	6.2%
Effective tax rate	25.81%
FCF margin	2.54%
Gross margin	16.01%
Operating margin	5.76%
Pretax margin	5.59%
Profit margin	4.09%
Profit per employee	$103,352
Profitable quarters	66
Profitable years	16
Revenue per employee	$2.6M
ROA	3.37%
ROA (5Y)	8.8%
ROCE	5.96%
ROE	5.96%
ROE (5Y)	16.36%
ROIC	5.18%
ROIC (5Y)	15.47%
SBC / revenue	0.45%
Tax / revenue	1.44%

Growth

Revenue, earnings, cash-flow, and forward growth indicators.

Metric	Value
EPS growth	-47.77%
EPS growth (Q)	-48.21%
EPS growth (QoQ)	-4.35%
EPS growth 10Y	3.6%
EPS growth 3Y	-26.75%
EPS growth 5Y	-16.63%
EPS growth years	0
FCF growth 3Y	-46.24%
FCF growth 5Y	-20.39%
Gross profit growth	-24.45%
Gross profit growth (Q)	-15.07%
Gross profit growth 3Y	-13.63%
Gross profit growth 5Y	-5.23%
Net income growth	-51.26%
Net income growth (Q)	-51.96%
Net income growth (QoQ)	-5.91%
Net income growth 3Y	-30.47%
Net income growth 5Y	-20.47%
Net income growth years	0
OCF growth 10Y	3.48%
OCF growth 3Y	-43.89%
OCF growth 5Y	-18.5%
Operating income growth	-47.68%
Operating income growth (Q)	-34.77%
Operating income growth 3Y	-30.23%
Operating income growth 5Y	-16.47%
Revenue growth	-8.03%
Revenue growth (Q)	-8.67%
Revenue growth (QoQ)	1.34%
Revenue growth 10Y	11.76%
Revenue growth 3Y	-1.48%
Revenue growth 5Y	4.61%
Revenue growth years	0

Financial statements

Income-statement and cash-flow amounts, totals and per share.

Metric	Value
Capital expenditures	$-126M
Depreciation and amortization	$139.6M
EBIT	$1.8B
EBITDA	$2B
EPS	$5.31
FCF per share	$3.41
Financing cash flow	$-1.4B
Free cash flow	$811.3M
Free cash flow minus SBC	$668.2M
Gross profit	$5.1B
Income taxes	$460.8M
Investing cash flow	$160.3M
Net borrowing	$497.5M
Net cash flow	$-258.1M
Net income	$1.3B
Operating cash flow minus SBC	$794.3M
Operating income	$1.8B
Revenue	$32B
Stock-based compensation	$143M

Financial strength

Debt, cash, solvency, accounting-quality, and balance-sheet signals.

Metric	Value
Altman Z-Score	4.24
Book value per share	$90.62
Debt / EBITDA	2.83
Debt / equity	0.28
Debt / FCF	7.54
Goodwill	$3.4B
Interest coverage	132.81
Long-term assets	$8.4B
Long-term liabilities	$9.2B
Net cash (debt)	$-4.9B
Net cash / market cap	-24.47%
Net debt / EBITDA	2.48
Net debt / equity	0.23
Net debt / FCF	6.06
Piotroski F-Score	4
Shareholders' equity	$21.7B
Tangible book value	$17.9B
Tangible book value per share	$75.35
Total assets	$33.4B
Total cash	$1.2B
Total debt	$6.1B
Total liabilities	$11.7B
WACC	9.1%

Liquidity

Current-asset coverage and working-capital efficiency metrics.

Metric	Value
Asset turnover	0.94
Current assets	$25B
Current liabilities	$2.5B
Current ratio	10.13
Inventory turnover	1.96
Net working capital	$21.4B
Quick ratio	1.09
Working capital	$22.6B
Working capital turnover	1.41

Dividends and buybacks

Dividend yield, payout, buybacks, and shareholder-yield indicators.

Metric	Value
Buyback yield / dilution	6.75%
Dividend growth	0%
Dividend growth (10Y)	28.99%
Dividend growth (3Y)	10.06%
Dividend growth (5Y)	14.87%
Dividend growth years	0
Dividend payment date	2026-10-22
Dividend payment years	49
Dividend payout frequency	Quarterly
Dividend per share	$2.00
Dividend yield	2.4%
Ex-dividend date	2026-10-07
FCF payout ratio	58.65%
Last dividend	$0.50
Payout ratio	37.69%
Shareholder yield	9.1%

Performance and technicals

Returns, volatility, beta, momentum, RSI, and moving-average context.

Metric	Value
10Y price change	109.9%
10Y return CAGR	9.79%
10Y total return	154.39%
150-day SMA	$85.66
15Y price change	392.58%
15Y return CAGR	12.81%
15Y total return	509.74%
1D price change	-1.53%
1M price change	1.05%
1M total return	1.71%
1W price change	5.55%
1W total return	5.55%
1Y price change	-35.51%
1Y return CAGR	-34.08%
1Y total return	-34.06%
20-day SMA	$78.76
200-day SMA	$91.59
20Y price change	77.7%
20Y return CAGR	4.5%
20Y total return	141.07%
3M price change	-2.38%
3M total return	-1.75%
3Y price change	-20.02%
3Y return CAGR	-3.04%
3Y total return	-8.83%
50-day SMA	$81.08
50-day SMA vs 200-day SMA	50under200
52-week high	$133.76
52-week high date	2025-12-03
52-week low	$71.78
52-week low date	2026-10-14
5Y price change	-16.75%
5Y return CAGR	-0.41%
5Y total return	-2.04%
6M price change	-10.98%
6M total return	-9.86%
All-time high	$193.80
All-time high date	2024-09-19
All-time low	$0.12
All-time low date	1974-12-06
Average true range (ATR)	$3.04
Average volume	5.2M
Beta (1Y)	0.68
Beta (2Y)	0.64
Beta (5Y)	1.38
Change from 52-week high	-37.73%
Change from 52-week low	16.04%
Change from all-time high	-57.16%
Change from all-time low	67,667.35%
Change from open	-1.07%
Day's gap	-0.46%
Dollar volume	$132.9M
High price	$85.09
Low price	$82.40
Monthly RSI	37.82
Open price	$84.19
Position in 52-week range	33.09%
Premarket change	-0.51%
Premarket close	$84.58
Premarket price	$84.15
Premarket volume	3.9K
Previous close	$84.58
Price vs 150-day SMA	-3.09%
Price vs 20-day SMA	5.4%
Price vs 200-day SMA	-9.37%
Price vs 50-day SMA	2.39%
Relative volume	0.31
RSI	55.96
Sharpe ratio	-0.96
Sharpe ratio (3Y)	-0.04
Sharpe ratio (5Y)	0.04
Sortino ratio	-1.25
Sortino ratio (3Y)	0.11
Sortino ratio (5Y)	0.22
Volume	1.6M
Weekly RSI	45.2
YTD price change	-19.25%
YTD total return	-17.44%

Ownership and float

Institutional, insider, float, short-interest, and share-count fields.

Metric	Value
Float	182.5M
Float percentage	76.73%
Shares change (QoQ)	-1.25%
Shares change (YoY)	-6.75%
Shares held by insiders	10.98%
Shares held by institutions	89.52%
Shares outstanding	237.9M
Short % of float	10.49%
Short % of shares	8.05%
Short ratio	3.9 days

Other indicators

Additional ticker metrics that do not fit the primary research groupings.

Metric	Value
Page views	121

Deeper analysis on LEN

14 sections in the full report · jump straight to what you need

Forecast

Base and Bull forecast paths with report-date return framing.

→

Valuation

Fair-value bridge, DCF, owner earnings, and peer multiples.

→

Sensitivity

Cost-of-equity and terminal-growth stress table.

→

Risks

Kill scenarios, soft-pass flags, and downside catalysts.

→

Earnings

Next earnings setup and beat / inline / miss thresholds.

→

Position sizing

Entry, exit, conviction, and quarterly monitoring rules.

→

Financials

Revenue, margins, cash flow, and balance-sheet context.

→

Peers

Relative valuation and profitability against the cohort.

→

Moat

Economic-profit evidence and competitive advantage risk.

→

Industry cycle

Sector phase, capital cycle, and secular tailwinds.

→

Quote this valuation with its source: Fair value, Potential value and the price at analysis.

Frequently asked questions

About this LEN report

What is the latest published LEN stock rating?

Lennar Corporation is shown with Buy in the latest published report, analyzed 2026-10-11. The hub links directly to the full analysis surface where the dated rating, fair-value bridge, risks, and scorecard are documented together.

Where can I read the full LEN analysis?

The full latest published report, analyzed 2026-10-11, lives at /stocks/LEN/analysis. The bare ticker page summarizes that read and links to each analysis tab; earlier editions remain under /analysis/archive.

What fair value is used for LEN?

The latest published report analyzed 2026-10-11 gives LEN a fair value of USD 91 and a potential value of USD 170. These are dated research outputs, not live market prices; review the valuation assumptions, sensitivity analysis, and material risks before making a decision.

How often is the LEN page updated?

The hub selects the latest published stock report regardless of age and displays its analysis date (2026-10-11). Separately sourced market data is labeled with its own recorded timestamp and is never inferred from the report.

BuyLEN · Fair value $91.1+18.7%

Read full analysis →

Lennar Corporation (LEN)

Our latest published analysis: LEN rated Buy

Price

Financial snapshot

Fair-value bridge

Latest news · LEN

Valuation

Profitability

Balance sheet

Trading

Base and Bull scenarios

Sensitivity: Ke × terminal growth

Scorecard

Next earnings

Sector percentile context

All LEN indicators

Profile and market data

Valuation

Profitability

Growth

Financial statements

Financial strength

Liquidity

Dividends and buybacks

Performance and technicals

Ownership and float

Other indicators

Deeper analysis on LEN

Frequently asked questions

등급 이력

Category	Score	Reading
Valuation	7.5
Management	9.5
Balance Sheet	8.5
Profitability	5.0
Revenue Growth	2.5
Risk Assessment	8.0
Competitive Moat	5.5
Earnings Quality	1.5
Capital Efficiency	3.5