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Lennar Corporation (LEN) Financial History

20 years of revenue, earnings, cash-flow and balance-sheet history from public filings.

CONSUMER CYCLICAL · Homebuilding · DATA UPDATED 2026-07-18

Lennar Corporation (LEN) operates in the Homebuilding industry and is headquartered in Miami, United States with about 12,532 employees. Its market capitalization is roughly $20 billion. In the fiscal year ended 2025-11-30, LEN reported $34.2B in revenue and $2.1B in net income.

Lennar Corporation, together with its subsidiaries, operates as a homebuilder primarily under the Lennar brand in the United States. It operates through Homebuilding East, Homebuilding Central, Homebuilding South Central, Homebuilding West, Financial Services, Multifamily, and Lennar Other segments.

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LEN Revenue & Earnings History — Annual Income Statement

Income statement	TTM → 2026-05-31	2025-11-30	2024-11-30	2023-11-30	2022-11-30	2021-11-30	2020-11-30	2019-11-30	2018-11-30	2017-11-30	2016-11-30	2015-11-30	2014-11-30	2013-11-30	2012-11-30	2011-11-30	2010-11-30	2009-11-30	2008-11-30	2007-11-30	2006-11-30
Total Revenue	$32.7B	$34.2B	$35.4B	$34.2B	$33.7B	$27.1B	$22.5B	$22.3B	$20.6B	$12.6B	$10.9B	$9.5B	$7.8B	$5.9B	$4.1B	$3.1B	$3.1B	$3.1B	$4.6B	$10.2B	$16.3B
Gross Profit	$2.6B	$3.4B	$5.5B	$34.0B	$7.2B	$5.5B	$3.5B	$2.8B	$2.3B	$1.6B	$1.5B	$1.3B	$1.1B	$832M	$444M	$199M	$218M	($343M)	($310M)	($2.5B)	$1.1B
Gross Margin %	8.0%	9.9%	15.5%	99.3%	21.4%	20.4%	15.4%	12.6%	11.3%	12.8%	13.7%	13.8%	14.1%	14.0%	10.8%	6.4%	7.1%	-11.0%	-6.8%	-24.1%	6.7%
Operating Income (EBIT)	$2.0B	$2.8B	$4.8B	$5.5B	$6.7B	$5.1B	$3.1B	$2.5B	$2.0B	$1.5B	$1.3B	$1.1B	$922M	$686M	$316M	$103M	$124M	($460M)	($440M)	($2.6B)	$902M
Operating Margin %	6.0%	8.1%	13.7%	16.2%	20.0%	18.7%	13.9%	11.2%	9.7%	11.7%	11.5%	11.5%	11.8%	11.6%	7.7%	3.3%	4.0%	-14.8%	-9.6%	-25.8%	5.5%
Net Income	$1.6B	$2.1B	$3.9B	$3.9B	$4.6B	$4.4B	$2.5B	$1.8B	$1.7B	$810M	$912M	$803M	$639M	$480M	$679M	$92M	$95M	($417M)	($1.1B)	($1.9B)	$594M
Net Margin %	4.9%	6.1%	11.1%	11.5%	13.7%	16.3%	11.0%	8.3%	8.2%	6.4%	8.3%	8.5%	8.2%	8.1%	16.5%	3.0%	3.1%	-13.4%	-24.2%	-19.1%	3.6%
EBITDA	$2.3B	$3.0B	$5.3B	$5.5B	$6.1B	$5.9B	$3.2B	$2.6B	$2.1B	$1.5B	$1.3B	$1.3B	$1.0B	$806M	$345M	$210M	$179M	($670M)	($506M)	($2.6B)	$952M
Earnings Per Share (EPS)	$6.46	$8.06	$14.46	$13.90	$15.92	$14.45	$7.97	$5.81	$5.50	$3.42	$3.87	$3.41	$2.74	$2.08	$3.04	$0.46	$0.49	$-2.40	$-6.86	$-12.07	$3.62
Shares Outstanding (M)	243M	258M	272M	283M	290M	307M	309M	318M	309M	237M	235M	235M	233M	230M	223M	199M	193M	174M	162M	161M	164M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

LEN Quarterly Revenue & Earnings — Last 8 Quarters

Quarterly income statement	2026-05-31	2026-02-28	2025-11-30	2025-08-31	2025-05-31	2025-02-28	2024-11-30	2024-08-31
Total Revenue	$7.9B	$6.6B	$9.4B	$8.8B	$8.4B	$7.6B	$9.9B	$9.4B
Gross Profit	$490M	$391M	$829M	$893M	$804M	$861M	$1.6B	$1.5B
Gross Margin %	6.2%	5.9%	8.8%	10.1%	9.6%	11.3%	15.6%	15.6%
Operating Income (EBIT)	$348M	$233M	$667M	$721M	$649M	$714M	$1.4B	$1.3B
Operating Margin %	4.4%	3.5%	7.1%	8.2%	7.7%	9.3%	13.9%	13.9%
Net Income	$308M	$229M	$490M	$591M	$477M	$520M	$1.1B	$1.2B
Net Margin %	3.9%	3.5%	5.2%	6.7%	5.7%	6.8%	11.0%	12.3%
EBITDA	$468M	$336M	$718M	$825M	$676M	$730M	$1.5B	$1.6B
Earnings Per Share (EPS)	$1.27	$0.94	$1.94	$2.31	$1.83	$1.98	$4.10	$4.30
Shares Outstanding (M)	243M	244M	252M	256M	262M	263M	267M	270M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

LEN Free Cash Flow History

Cash flow	TTM → 2026-05-31	2025-11-30	2024-11-30	2023-11-30	2022-11-30	2021-11-30	2020-11-30	2019-11-30	2018-11-30	2017-11-30	2016-11-30	2015-11-30	2014-11-30	2013-11-30	2012-11-30	2011-11-30	2010-11-30	2009-11-30	2008-11-30	2007-11-30	2006-11-30
Cash from Operations (CFO)	$988M	$217M	$2.4B	$5.2B	$3.3B	$2.5B	$4.2B	$1.5B	$1.7B	$997M	$508M	($420M)	($788M)	($808M)	($425M)	($259M)	$274M	$421M	$1.1B	$445M	$555M
Capital Expenditures (CapEx)	$166M	$189M	$172M	$100M	$57M	$65M	$73M	$86M	$130M	$112M	$76M	$91M	$23M	$8M	$3M	$10M	$5M	$0M	$0M	$0M	$27M
Free Cash Flow (FCF)	$822M	$28M	$2.2B	$5.1B	$3.2B	$2.5B	$4.1B	$1.4B	$1.6B	$885M	$431M	($511M)	($811M)	($816M)	($427M)	($269M)	$269M	$421M	$1.1B	$445M	$528M
FCF Margin %	2.5%	0.1%	6.3%	14.8%	9.5%	9.1%	18.3%	6.3%	7.7%	7.0%	3.9%	-5.4%	-10.4%	-13.8%	-10.4%	-8.7%	8.8%	13.5%	24.1%	4.4%	3.2%
Dividends Paid	$502M	$521M	$549M	$431M	$438M	$310M	$195M	$51M	$49M	$38M	$35M	$33M	$33M	$31M	$30M	$30M	$30M	$28M	$83M	$101M	$101M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

LEN Quarterly Free Cash Flow — Last 8 Quarters

Quarterly cash flow	2026-05-31	2026-02-28	2025-11-30	2025-08-31	2025-05-31	2025-02-28	2024-11-30	2024-08-31
Cash from Operations (CFO)	($284M)	($329M)	$1.8B	($159M)	($1.1B)	($289M)	$975M	$819M
Capital Expenditures (CapEx)	$19M	$30M	$85M	$32M	$15M	$56M	$41M	$18M
Free Cash Flow (FCF)	($303M)	($358M)	$1.7B	($191M)	($1.1B)	($345M)	$933M	$801M
FCF Margin %	-3.8%	-5.4%	17.9%	-2.2%	-13.2%	-4.5%	9.4%	8.5%
Dividends Paid	$123M	$123M	$127M	$129M	$134M	$132M	$135M	$136M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

LEN Balance Sheet History

Balance sheet	2026-05-31	2025-11-30	2024-11-30	2023-11-30	2022-11-30	2021-11-30	2020-11-30	2019-11-30	2018-11-30	2017-11-30	2016-11-30	2015-11-30	2014-11-30	2013-11-30	2012-11-30	2011-11-30	2010-11-30	2009-11-30	2008-11-30	2007-11-30	2006-11-30
Total Assets	$33.7B	$34.4B	$41.3B	$39.2B	$38.0B	$33.2B	$29.9B	$29.4B	$28.6B	$18.7B	$15.4B	$14.4B	$12.9B	$11.3B	$10.4B	$9.2B	$8.8B	$7.3B	$7.4B	$9.1B	$12.4B
Cash & Cash Equivalents	$1.8B	$3.8B	$5.0B	$6.6B	$4.6B	$2.7B	$2.7B	$1.4B	$1.6B	$2.7B	$1.3B	$1.2B	$1.3B	$981M	$1.6B	$1.4B	$1.5B	$1.5B	$1.2B	$831M	$803M
Total Liabilities	$11.9B	$12.3B	$13.3B	$12.5B	$13.7B	$12.2B	$11.8B	$13.3B	$13.9B	$10.8B	$8.2B	$8.5B	$7.7B	$6.6B	$6.4B	$5.9B	$5.6B	$4.7B	$4.6B	$5.3B	$6.7B
Total Debt (Short + Long-Term)	$8.2B	$8.3B	$6.6B	$5.4B	$6.3B	$7.0B	$8.9B	$9.6B	$11.1B	$7.9B	$6.4B	$7.4B	$6.8B	$5.0B	$5.6B	$4.5B	$3.6B	$3.0B	$2.8B	$2.8B	$3.8B
Total Shareholders' Equity	$21.6B	$22.0B	$27.9B	$26.6B	$24.2B	$21.0B	$18.1B	$16.0B	$14.7B	$7.9B	$7.2B	$5.6B	$4.8B	$4.2B	$3.4B	$2.7B	$2.6B	$2.4B	$2.6B	$3.8B	$5.7B

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

Quarterly statements, profitability ratios, price history, insider activity and institutional holders are in the interactive LEN viewer.

Other Companies in Homebuilding

DHI · D. R. Horton — $41 billion
PHM · PulteGroup — $25 billion
NVR · NVR, Inc. — $17 billion

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