LEN Stock - Lennar Corporation
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Financial Statements
| Metric | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Revenue | $34.19B | $35.48B | $34.29B | $33.71B | $27.14B |
| Gross Profit | $6.07B | $8.01B | $8.23B | $9.20B | $7.34B |
| Gross Margin | 17.7% | 22.6% | 24.0% | 27.3% | 27.1% |
| Operating Income | $2.75B | $4.80B | $5.42B | $6.76B | $5.09B |
| Net Income | $2.08B | $3.93B | $3.94B | $4.61B | $4.43B |
| Net Margin | 6.1% | 11.1% | 11.5% | 13.7% | 16.3% |
| EPS | $7.98 | $14.31 | $13.73 | $15.74 | $14.28 |
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 Texas, Homebuilding West, Financial Services, Multifamily, and Lennar Other segments. The company's homebuilding operations include the construction and sale of single-family attached and detached homes, as well as the purchase, development, and sale of residential land; and development, construction, and management of multifamily rental properties. It also offers residential mortgage financing, title insurance, and closing services for home buyers and others, as well as originates and sells securitization commercial mortgage loans. In addition, the company is involved in the fund investment activity. It primarily serves first-time, move-up, active adult, and luxury homebuyers. Lennar Corporation was founded in 1954 and is based in Miami, Florida.
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Price Targets
Recent Analyst Actions
| Date | Firm | Action | Rating | Price Target |
|---|---|---|---|---|
| December 18th 2025 | RBC Capital Mkts | Downgrade | Underperform | $95 |
| December 18th 2025 | Evercore ISI | Downgrade | Underperform | $92 |
| December 18th 2025 | BofA Securities | Downgrade | Underperform | $95 |
| December 8th 2025 | Barclays | Downgrade | Underweight | $98 |
| December 4th 2025 | JP Morgan | Downgrade | Underweight | $115 |
| December 2nd 2025 | BTIG Research | Resumed | Sell | $96 |
| September 22nd 2025 | Raymond James | Downgrade | Underperform | - |
| March 24th 2025 | Evercore ISI | Downgrade | In-line | $131← $159 |
| March 11th 2025 | Keefe Bruyette | Downgrade | Market Perform | $141← $152 |
| March 6th 2025 | Seaport Research Partners | Upgrade | Buy | $154 |
| January 10th 2025 | RBC Capital Mkts | Upgrade | Sector Perform | $130 |
| January 8th 2025 | Wolfe Research | Downgrade | Peer Perform | - |
| December 20th 2024 | BTIG Research | Downgrade | Neutral | - |
| December 11th 2024 | Barclays | Downgrade | Equal Weight | $181← $210 |
| October 7th 2024 | Wells Fargo | Downgrade | Equal Weight | $190← $205 |
Earnings History & Surprises
LENEPS Surprise History
Quarterly EPS Details
| Period | Report Date | Estimated EPS | Actual EPS | Surprise | Result |
|---|---|---|---|---|---|
Q1 2026 | Mar 19, 2026 | $1.72 | — | — | — |
Q4 2025 | Dec 16, 2025 | $2.21 | $2.03 | -8.1% | ✗ MISS |
Q3 2025 | Sep 18, 2025 | $2.10 | $2.00 | -4.8% | ✗ MISS |
Q2 2025 | Jun 16, 2025 | $1.94 | $1.90 | -2.1% | ✗ MISS |
Q1 2025 | Mar 20, 2025 | $1.70 | $2.14 | +25.9% | ✓ BEAT |
Q1 2025 | Jan 23, 2025 | — | $4.10 | — | — |
Q4 2024 | Dec 18, 2024 | $3.98 | $4.03 | +1.3% | ✓ BEAT |
Q2 2024 | Jun 17, 2024 | $3.24 | $3.45 | +6.5% | ✓ BEAT |
Q2 2024 | Apr 25, 2024 | — | $4.87 | — | — |
Q1 2024 | Mar 13, 2024 | $2.20 | $2.57 | +16.8% | ✓ BEAT |
Q4 2023 | Dec 14, 2023 | $4.59 | $4.82 | +5.0% | ✓ BEAT |
Q2 2023 | Jun 14, 2023 | $2.32 | $3.01 | +29.7% | ✓ BEAT |
Q1 2023 | Mar 14, 2023 | $1.55 | $2.06 | +32.9% | ✓ BEAT |
Q1 2023 | Jan 26, 2023 | — | $4.60 | — | — |
Q4 2022 | Dec 14, 2022 | $4.90 | $4.55 | -7.1% | ✗ MISS |
Q2 2022 | Jun 21, 2022 | $3.96 | $4.49 | +13.4% | ✓ BEAT |
Q1 2022 | Mar 16, 2022 | $2.60 | $2.70 | +3.8% | ✓ BEAT |
Q1 2022 | Jan 28, 2022 | — | $3.95 | — | — |
Q4 2021 | Dec 15, 2021 | $4.15 | $3.91 | -5.8% | ✗ MISS |
Q2 2021 | Jun 16, 2021 | $2.36 | $2.40 | +1.7% | ✓ BEAT |
Latest News
JP Morgan Maintains Underweight on Lennar, Lowers Price Target to $80
📉 NegativeBarclays Maintains Underweight on Lennar, Lowers Price Target to $88
📉 NegativeUBS Maintains Buy on Lennar, Lowers Price Target to $137
➖ NeutralWells Fargo Maintains Equal-Weight on Lennar, Lowers Price Target to $110
➖ NeutralKeefe, Bruyette & Woods Maintains Market Perform on Lennar, Lowers Price Target to $115
📉 NegativeRBC Capital Downgrades Lennar to Underperform, Lowers Price Target to $95
📉 NegativeB of A Securities Downgrades Lennar to Underperform, Lowers Price Target to $95
📉 NegativeEvercore ISI Group Downgrades Lennar to Underperform, Lowers Price Target to $92
📉 NegativeLennar Executive Says We Are Focused On The Volume
📈 PositiveLennar Executive Says The Numbers Given Out Are Dependent On Market Conditions
➖ NeutralLennar Executive Says Sales And Closings Will Be Seasonally Light In Q1 And The Market Will Remain Under Pressure
📉 NegativeLennar Executive Says We Expect To Deliver ~ 85K Homes In 2026
📈 PositiveLennar Executive Says Low Supply Has Fueled Higher Prices; Supply Remains Constrained In Most Markets
📈 PositiveLennar Executive Says We Will Maintain Responsible Volume
➖ NeutralLennar Executive Says We Know That Margin Will Remain Under Pressure
📉 NegativeMarket-Moving News for December 17th
➖ NeutralLennar Projects 18,000-19,000 New Orders for Homebuilding in Q1 FY2026
📈 PositiveLennar shares are trading lower following a Q4 earnings miss.
📉 NegativeLennar Q4 Adj. EPS $2.03 Misses $2.21 Estimate, Sales $9.368B Beat $9.017B Estimate
➖ NeutralBarclays Downgrades Lennar to Underweight, Raises Price Target to $98
➖ NeutralFrequently Asked Questions about LEN
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