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Lennar/$LEN

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About Lennar

Lennar is the second-largest public homebuilder in the United States, behind D.R. Horton, operating in 26 states. The company's homebuilding operations target first-time, move-up, and active adult homebuyers mainly under the Lennar brand name. Lennar's financial-services segment provides mortgage financing and related services to its homebuyers. Miami-based Lennar is also involved in multifamily construction and has invested in numerous housing-related technology startups.
Ticker
$LEN
Primary listing
NYSE
Employees
12,532

Lennar Metrics

BasicAdvanced
$18B
14.72
$5.28
1.38
$2.00
2.57%

What the Analysts think about Lennar

Analyst ratings (Buy, Hold, Sell) for Lennar stock.
Analyst projections of the future price of Lennar stock.

Bulls say / Bears say

There are early signs that Lennar’s operating improvements are cushioning weak demand: Q3 gross margin rose sequentially to 15.8% from 15.6% in Q2, while incentives eased to 12% from 12.9%. Lower construction costs also helped offset pressure on selling prices. (Lennar, Lennar)
Lennar has moved to a land-light model, with less than 5% of its land on its balance sheet and about 486,000 controlled homesites. Keeping less capital tied up in owned land could support more capital-efficient growth through the housing cycle. (Lennar, HousingWire)
Lennar says the unresolved US housing shortage supports demand from both homebuyers and single-family rental and build-to-rent operators. If affordability improves, this wider pool of demand could help its sales recover. (Lennar)
Higher mortgage rates and affordability strain are weakening demand: Lennar’s Q3 orders fell 9% year on year, and it cut its 2026 delivery target to 80,000–81,000 homes from 82,000–83,000. Management said the 30-year mortgage rate was about 6.8% at quarter end and had risen further since. (Reuters, Lennar)
Profitability has deteriorated sharply: Q3 net earnings fell to $284 million from $591 million a year earlier, while homebuilding gross margin narrowed to 15.8% from 17.5%. Lower selling prices and roughly 12% incentives are helping sustain sales but weigh on returns. (Lennar, Reuters)
Lennar’s reliance on land-bank and lot-option arrangements may limit its flexibility if demand weakens further. Industry coverage notes that scheduled lot take-downs could make it harder or more costly to slow production, potentially requiring further incentives to move homes. (HousingWire)
Data summarised monthly by Lightyear AI. Last updated on 5 Oct 2026.

Lennar Financial Performance

Revenues and expenses
Income statement
QuarterlyAnnual
Q3 24
QoQ growth
Revenue
Net income
Profit margin

Lennar Earnings Performance

Company profitability
Earnings per share
QuarterlyAnnual
Q4 23
Q1 24
Q2 24
Q3 24
Q4 24
Actual
Expected
Surprise
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