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LEN

Lennar

Consumer DiscretionaryConstructionS&P 500
Ticker LENMIAMI, FLFiscal year ends NovemberBook value per share $89.46Diluted shares 241.0M

Lennar Corporation (NYSE: LEN) is a U.S. homebuilder that constructs and sells single-family attached and detached homes, and develops and sells residential land. Its customers include first-time, move-up, active adult, luxury and multigenerational homebuyers. Homebuilding generated $32 billion, or approximately 94%… From the company’s description.

In fiscal 2025, Lennar reported revenue of $34.19B, down 3.5% from fiscal 2024, and net income of $2.11B. Its operating margin was 7.8%, and operations generated $216.81M in cash. Over the twelve months to Aug 31, 2026, revenue was $31.97B.

Fiscal year 2025 · ends 11-30Changes are against fiscal 2024The amber dot is the latest twelve months, to 2026-08-31
Sales & profitability
$34.19BFY2025
−3.5% year over year
Last 12 mo $31.97B
7.80%FY2025
−5.7 percentage points
Last 12 mo 5.37%
$2.11BFY2025
−46.9% year over year
Last 12 mo $1.32B
9.46%FY2025
−4.6 percentage points
Last 12 mo 6.07%
Cash & financing
$216.81MFY2025
−91.0% year over year
Last 12 mo $937.30M
$28.18MFY2025
−98.7% year over year
Last 12 mo $811.27M
0.27FY2025
Was 0.08× a year earlier
—
Last 12 mo 241.0M

Margins and return on equity change in ; everything else in percent. Fewer shares and less debt are shown plainly, not as bad news — it depends what you make of buybacks. Dotted labels explain each measure. is shown separately from the annual figures.

What Lennar does

In the company’s own words

Lennar Corporation (NYSE: LEN) is a U.S. homebuilder that constructs and sells single-family attached and detached homes, and develops and sells residential land. Its customers include first-time, move-up, active adult, luxury and multigenerational homebuyers. Homebuilding generated $32 billion, or approximately 94% of consolidated revenue, in fiscal 2025, with 82,583 home deliveries, including deliveries from unconsolidated entities. The company reports Homebuilding across East, Central, South Central and West segments, alongside Financial Services, Multifamily and Lennar Other. Financial Services provides residential mortgage loans mainly to Lennar homebuyers, title insurance and closing services, and commercial mortgage origination. Multifamily develops rental communities and manages investment funds and joint ventures; Lennar Other includes strategic technology investments. The company operates primarily under the Lennar brand, including its Everything’s Included® and Next Gen® home offerings. Founded in 1954 as a local Miami homebuilder, Lennar expanded through acquisitions and entered a land-light model, spinning off a substantial portion of its land assets to Millrose in 2025. Its website is www.lennar.com.

Company details
Sector
Consumer Discretionary
Industry (SIC)
Construction
Headquarters
MIAMI, FL
Fiscal year end
November
CIK
920760
SIC
1520

Financial performance, year by year

Fiscal 2013–2025 · USD
$-3.54B$7.09B$17.72B$28.35B$38.99B2013201420152016201720182019202020212022202320242025Last 12 moLast 12 monthsLast 12 months

The full income statement, balance sheet and cash flow for each of these years — every figure traceable to its filing — is on the Financials tab with a free account.

Ownership

Who owns Lennar — and what changed

Funds as of 2026Q2 · superinvestors as of 2026-06-30

606
funds hold it
3 of 35
superinvestors hold it
$6.73B
held by funds, at market
34.2%
of shares held by funds

Superinvestors in Lennar · what they did last quarter

Warren BuffettINCREASED
Berkshire Hathaway
0.4%of 13F portfolio
Glenn GreenbergDECREASED -1.5%
Brave Warrior Advisors
4.7%of 13F portfolio
Bill SmeadINCREASED +27.4%
Smead Capital Management
3.9%of 13F portfolio

Share of each manager’s reported 13F portfolio. Change is in shares held, since the previous quarter.

Largest fund holders · Lennar’s weight in each

VANGUARD TOTAL STOCK MARKET INDEX FUND
VTI · VANGUARD INDEX FUNDS
0.03%of fund net assets
VANGUARD 500 INDEX FUND
VOO · VANGUARD INDEX FUNDS
0.03%of fund net assets
VANGUARD MID-CAP INDEX FUND
VO · VANGUARD INDEX FUNDS
0.19%of fund net assets
iShares Core S&P 500 ETF
IVV · iShares Trust
0.03%of fund net assets
Fidelity 500 Index Fund
FXAIX · Fidelity Concord Street Trust
0.03%of fund net assets

Fund ownership is a floor, not a census — pensions, insurers and people holding shares directly are not visible here.

By share class

ClassHeld by fundsFundsShares out
LENClass A Common Stock, par value $.1034.2%582207.9M
LEN/BClass B Common Stock, par value $.1011.9%17730.0M

Fund ownership counts N-PORT filers only, so it is a floor rather than a census — pensions, insurers and direct holders are not visible here, and the remainder is not “held by individuals”.

Fund ownership is a subset of institutional 13F ownership — the two describe overlapping populations and must not be added together.

Could not be determined for this company: bond issues.

Every fund and institutional holder, quarter by quarter, is on the Ownership tab with a free account.

Connected research

Put this business in context.

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  • “How do Lennar and its peers compare on margins and cash generation over ten years?”
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