Available company data, source links and archived checks for Lennar. Read each source and date: a past check is not a fresh review, and some earlier figures have incomplete source details.
Quarter ended 2026-05-31 · consolidated · Company filing
| Quarter | Revenue / income | YoY | Profit | YoY | Net margin | Source |
|---|---|---|---|---|---|---|
| May 2026 | Revenue: $7.9 bn | -5.2% | Net profit: $305 mn | -36.2% | 3.8% | Company filing source |
| Feb 2026 | Revenue: $6.6 bn | -13.3% | Net profit: $229 mn | -55.8% | 3.5% | Company filing source |
| Nov 2025 | Revenue: $9.4 bn | -5.8% | Net profit: $490 mn | -55.3% | 5.2% | Company filing source |
| Aug 2025 | Revenue: $8.8 bn | -6.4% | Net profit: $591 mn | -49.2% | 6.7% | Company filing source |
| May 2025 | Revenue: $8.4 bn | -4.4% | Net profit: $477 mn | -50.0% | 5.7% | Company filing source |
| Feb 2025 | Revenue: $7.6 bn | +4.4% | Net profit: $520 mn | -27.8% | 6.8% | Company filing source |
YoY means change from the same quarter a year earlier. — means no comparable figure is available. Older entries with incomplete source details have not been revalidated under the current checks.
(In thousands)
Column boundaries are incomplete. Use the source document to interpret these figures.
| March 1 to March 31, 2026 | 2,008,293 | | | $ | 92.78 | | | 1,867,129 | | | $ | 1,281,210 | | April 1 to April 30, 2026 | 1,997,760 | | | $ | 88.74 | | | 1,994,210 | | | $ | 1,104,235 | | May 1 to May 31, 2026 | 1,138,718 | | | $ | 85.17 | | | 1,138,661 | | | $ | 1,007,250 |
(1)Includes shares of Class A common stock withheld by us to cover withholding taxes due, at the election of certain holders of nonvested shares, with market value approximating the amount of withholding taxes due.
(2)In January 2024, our Board of Directors authorized an increase to our stock repurchase program to enable us to repurchase up to an additional $5 billion in value of our outstanding Class A or Class B common stock. Repurchases are authorized to be made in open-market or private transactions. The repurchase authorization has no expiration date.
A significant decline in market conditions and expected future cash flows could cause goodwill impairment.
CONSOLIDATED STATEMENTS OF CASH FLOWS
Years Ended November 30, 2025, 2024 and 2023
(In thousands)
Column boundaries are incomplete. Use the source document to interpret these figures.
| | | | | | | | | | | | | | | | | | | | 2025 | | 2024 | | 2023 | Cash flows from operating activities: | | | | | | Net earnings (including net earnings attributable to noncontrolling interests) | $ | 2,108,300 | | | 3,967,655 | | | 3,961,291 |
CONSOLIDATED STATEMENTS OF CASH FLOWS
Years Ended November 30, 2025, 2024 and 2023
(In thousands)
Column boundaries are incomplete. Use the source document to interpret these figures.
| | | | | | | | | | | | | | | | | | | | 2025 | | 2024 | | 2023 | Cash flows from operating activities: | | | | | | Net earnings (including net earnings attributable to noncontrolling interests) | $ | 2,108,300 | | | 3,967,655 | | | 3,961,291 | | Adjustments to reconcile net earnings to net cash provided by operating activities: | | | | | | Depreciation and amortization | 134,310 | | | 115,528 | | | 110,164 | | Amortization of discount/premium and accretion on debt, net | 88 | | | 148 | | | (1,651) | | Equity in (earnings) losses from unconsolidated entities | (78,225) | | | (164,099) | | | 144,610 | |
Distributions of earnings from unconsolidated entities
Column boundaries are incomplete. Use the source document to interpret these figures.
| 36,578 | | | 155,565 | | | 53,125 | | Share-based compensation expense | 163,494 | | | 176,676 | | | 160,720 | | Deferred income tax expense (benefit) | 77,295 | | | 60,426 | | | (67,968) | | Loans held-for-sale unrealized (gains) losses | (26,618) | | | 52,482 | | | 26,658 | | Loss on Millrose Properties, Inc. exchange offer | 156,076 | | | — | | | — | | Lennar Other (gains) losses from technology investments and other (gains) losses, net | (100,159) | | | (67,226) | | | 112,541 | | Gains on sale of investments in unconsolidated entities and other | (35,900) | | | — | | | — | | Gains on sale of operating properties and equipment and other assets and loans receivables | (77,737) | | | (38,837) | | | (7,015) | | Gain on redemption/repurchases of senior notes and other debts payable | — | | | (825) | | | (9,611) | | Valuation adjustments and write-offs of option deposits and pre-acquisition costs on real estate, and other assets | 246,220 | | | 143,265 | | | 125,338 |
CONSOLIDATED STATEMENTS OF CASH FLOWS
Years Ended November 30, 2025, 2024 and 2023
(In thousands)
Column boundaries are incomplete. Use the source document to interpret these figures.
| | | | | | | | | | | | | | | | | | | | 2025 | | 2024 | | 2023 | Cash flows from operating activities: | | | | | | Net earnings (including net earnings attributable to noncontrolling interests) | $ | 2,108,300 | | | 3,967,655 | | | 3,961,291 | | Adjustments to reconcile net earnings to net cash provided by operating activities: | | | | | | Depreciation and amortization | 134,310 | | | 115,528 | | | 110,164 | | Amortization of discount/premium and accretion on debt, net | 88 | | | 148 | | | (1,651) | | Equity in (earnings) losses from unconsolidated entities | (78,225) | | | (164,099) | | | 144,610 | |
Distributions of earnings from unconsolidated entities
Column boundaries are incomplete. Use the source document to interpret these figures.
| 36,578 | | | 155,565 | | | 53,125 | | Share-based compensation expense | 163,494 | | | 176,676 | | | 160,720 | | Deferred income tax expense (benefit) | 77,295 | | | 60,426 | | | (67,968) | | Loans held-for-sale unrealized (gains) losses | (26,618) | | | 52,482 | | | 26,658 | | Loss on Millrose Properties, Inc. exchange offer | 156,076 | | | — | | | — | | Lennar Other (gains) losses from technology investments and other (gains) losses, net | (100,159) | | | (67,226) | | | 112,541 | | Gains on sale of investments in unconsolidated entities and other | (35,900) | | | — | | | — | | Gains on sale of operating properties and equipment and other assets and loans receivables | (77,737) | | | (38,837) | | | (7,015) | | Gain on redemption/repurchases of senior notes and other debts payable | — | | | (825) | | | (9,611) | | Valuation adjustments and write-offs of option deposits and pre-acquisition costs on real estate, and other assets | 246,220 | | | 143,265 | | | 125,338 | | Changes in assets and liabilities: | | | | | | Decrease (increase) in receivables | 66,764 | | | (129,212) | | | (329,191) | | (Increase) decrease in inventories, excluding valuation adjustments | (150,921) | | | (285,095) | | | 2,274,083 | | Increase in deposits and pre-acquisition costs on real estate | (1,549,664) | | | (1,631,783) | | | (295,761) | | Increase in other assets | (186,071) | | | (113,276) | | | (85,005) | | Decrease (increase) in loans held-for-sale | 123,733 | | | (218,393) | | | (366,728) | | (Decrease) increase in accounts payable and other liabilities | (690,751) | | | 380,380 | | | (625,862) | | Net cash provided by operating activities | $ | 216,812 | | | 2,403,379 | | | 5,179,738 |
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