Lennar
Builds U.S. homes through standardized plans, bundled features, and land-light community development.
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Profile
Builds and sells attached and detached homes across U.S. markets, with mortgage, title, closing, multifamily, and housing-technology operations alongside the core business. Standardized plans and bundled features support high-volume production, while most homesites are controlled through options and land-bank agreements rather than owned.
Builds and sells attached and detached homes across U.S. markets for first-time, move-up, active-adult, and luxury buyers. Everything’s Included bundles standard features, while Next Gen adds private suites; Core Plans and even-flow production support standardized execution.
Financial Services provides mortgages, title insurance, and closing services around home sales; LMF Commercial originates commercial-property loans. Multifamily manages and invests in rental-development ventures, while LENX directs housing-technology investments. A minority interest in Quarterra remains after TPG acquired a majority stake.
Homebuilding is the economic center. Most homesites are controlled through options, land banks, and joint ventures rather than owned, leaving results dependent on housing demand, mortgage affordability, land access, construction costs, and subcontractor capacity.
Company facts
Key statistics
Year to date −17.2% · Average volume (30d) 2.4M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Aug 6, 2026 | Truist Financial | Target | $80 | |||
| Jul 9, 2026 | Argus Research | Target | $175 | $108 | ||
| Jun 16, 2026 | UBS | Reiterate | Neutral | $122 | $94 | |
| Jun 15, 2026 | RBC Capital | Reiterate | Underperform | $88 | $85 | |
| Jun 15, 2026 | BTIG | Target | $73 | $67 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Jun 11, 2026Q2 FY26 | $1.24 | $1.24 | 0.0% | $8.08B | $7.94B | −1.8% | −4.90% |
| Mar 12, 2026Q1 FY26 | $0.95 | $0.93 | −2.4% | $6.84B | $6.62B | −3.2% | +2.62% |
| Dec 16, 2025Q4 FY25 | $2.21 | $1.93 | −12.7% | $9.00B | $9.37B | +4.1% | −4.54% |
| Sep 18, 2025Q3 FY25 | $2.10 | $2.00 | −4.8% | $8.97B | $8.80B | −2.0% | −4.18% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $7.63B | $8.38B | $8.81B | $9.37B | $6.62B | $7.94B | |
| Gross profit | $861.1M | $804.4M | $892.6M | $829.0M | $390.7M | $490.5M | |
| Operating income | $713.7M | $648.6M | $721.2M | $667.0M | $233.1M | $348.4M | |
| Net income | $519.5M | $477.4M | $591.0M | $490.2M | $229.4M | $308.1M | |
| Diluted EPS | $1.96 | $1.81 | $2.29 | $1.93 | $0.94 | $1.23 | |
| Gross margin | 11.3% | 9.6% | 10.1% | 8.9% | 5.9% | 6.2% | |
| Operating margin | 9.4% | 7.7% | 8.2% | 7.1% | 3.5% | 4.4% |
Fiscal years (4-quarter sums)FY21 $27.13B · FY22 $33.67B · FY23 $34.23B · FY24 $35.44B · FY25 $34.19B
Revenue by product · Q2 FY26
Revenue by geography · Q2 FY26
Balance sheet, May 31, 2026Cash & short-term investments $1.82B · Total debt $6.20B · Total assets $33.70B · Shareholders' equity $21.62B
Dividends
Raised for 16 straight years — most recently to $0.50 from $0.484 split-adjusted in Jan 2025. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Jul 10, 2026 | Jul 10 | Jul 24 | $0.50 | |
| Apr 22, 2026 | Apr 22 | May 6 | $0.50 | |
| Feb 4, 2026 | Feb 4 | Feb 19 | $0.50 | |
| Oct 10, 2025 | Oct 10 | Oct 27 | $0.50 | |
| Jul 3, 2025 | Jul 3 | Jul 18 | $0.50 | |
| Apr 23, 2025 | Apr 23 | May 7 | $0.50 | |
| Jan 29, 2025 | Jan 29 | Feb 12 | $0.50 | raised from $0.484 split-adjusted |
| Oct 9, 2024 | Oct 9 | Oct 24 | $0.50 |
Ownership
Shares outstanding 248.30M · Float 206.56M · 83.2% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| BlackRock, Inc. | 18.35M | 7.39% | 13F | Aug 7, 2026 |
| Berkshire Hathaway Inc | 13.11M | 5.28% | 13F | Aug 14, 2026 |
| Warren E. Buffett | 13.11M | 6.20% | 13G | Aug 14, 2026 |
| Vanguard Capital Management LLC | 13.02M | 5.24% | 13F | Aug 13, 2026 |
| Greenhaven Associates Inc | 11.32M | 4.56% | 13F | Jul 28, 2026 |
Insider tradesForm 4
No open-market trades in the last 12 months.
View detailsPeers
- D.R. Horton
Largest volume builder across entry-level and move-up homes
- PulteGroup
Broad national builder for first-time, move-up and active-adult buyers
- NVR
Asset-light builder with Ryan Homes, NVHomes and captive mortgage
- Toll Brothers
Luxury builder overlapping higher-end and active-adult demand
- KB Home
Built-to-order builder focused on affordable personalized homes
- Meritage Homes
Entry-level and first move-up builder with energy-efficient homes
- M/I Homes
Mid-scale builder for first-time, move-up and empty-nester buyers
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Lennar | $86.50 | +0.19% | $21.44B | 13.5 | 15.2 | 0.7 | −5.0% |
| D.R. Horton | $147.39 | 0.00% | $41.23B | 14.1 | 13.1 | 1.2 | +0.0% |
| PulteGroup | $128.55 | +0.02% | $24.81B | 13.2 | 12.0 | 1.5 | −9.6% |
| NVR | $6,396.27 | −0.21% | $17.27B | 16.6 | 16.6 | 1.8 | −10.6% |
| Toll Brothers | $146.22 | +0.02% | $13.67B | 11.7 | 10.6 | 1.3 | −9.7% |
| KB Home | $54.96 | +0.18% | $3.36B | 13.3 | 13.6 | 0.6 | −27.3% |
| Meritage Homes | $71.02 | −0.14% | $4.74B | 14.9 | 12.9 | 0.9 | −14.3% |
| M/I Homes | $151.40 | −0.01% | $3.83B | 12.7 | 11.3 | 0.9 | −8.5% |
| Median | 13.3 | 12.9 | 1.2 | −9.7% |