Lennar Corporation (LEN)

Lennar Income Statement

Financials in millions USD. Fiscal year is December - November.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Nov 30, 2025	Nov 30, 2024	Nov 30, 2023	Nov 30, 2022	Nov 30, 2021
Operating Revenue	32,989	34,332	33,257	32,861	26,232
Other Revenue	1,198	1,109	976.86	809.68	898.75
Revenue	34,187	35,441	34,233	33,671	27,131
Revenue Growth (YoY)	-3.54%	3.53%	1.67%	24.11%	20.64%
Cost of Revenue	27,356	26,930	25,594	26,042	21,186
Gross Profit	6,245	7,979	8,172	7,202	5,537
Selling, General & Admin	3,315	3,129	2,732	414.5	398.38
Other Operating Expenses	216.03	-244.64	-45.95	-3.84	-200.97
Operating Expenses	3,531	2,885	2,686	410.66	197.41
Operating Income	2,714	5,095	5,486	6,791	5,339
Interest Expense	-13.87	-18.77	-15.43	-19.13	-20.14
Earnings From Equity Investments	66.33	164.1	-144.61	-36.3	48.99
Other Non Operating Income (Expenses)	-82.58	-80.21	-73.09	-66.4	-59.83
EBT Excluding Unusual Items	2,684	5,160	5,252	6,670	5,308
Gain (Loss) on Sale of Investments	130.17	25.18	-50.16	-655.09	510.8
Pretax Income	2,814	5,185	5,202	6,015	5,819
Income Tax Expense	705.56	1,217	1,241	1,366	1,363
Earnings From Continuing Operations	2,108	3,968	3,961	4,649	4,457
Minority Interest in Earnings	-30.12	-35.12	-22.78	-34.38	-26.44
Net Income	2,078	3,933	3,939	4,614	4,430
Preferred Dividends & Other Adjustments	-	38.82	48.54	51.98	52.92
Net Income to Common	2,078	3,894	3,890	4,562	4,377
Net Income Growth	-47.15%	-0.15%	-14.64%	4.15%	79.72%
Shares Outstanding (Basic)	258	272	283	290	307
Shares Outstanding (Diluted)	258	272	283	290	307
Shares Change (YoY)	-5.25%	-3.99%	-2.24%	-5.47%	-0.90%
EPS (Basic)	8.06	14.31	13.73	15.74	14.28
EPS (Diluted)	7.98	14.31	13.73	15.72	14.27
EPS Growth	-44.23%	4.22%	-12.68%	10.22%	81.83%
Free Cash Flow	-	2,232	5,080	3,208	2,468
Free Cash Flow Per Share	-	8.21	17.93	11.07	8.05
Dividend Per Share	2.000	2.000	1.500	1.500	1.000
Dividend Growth	-	33.33%	-	50.00%	60.00%
Gross Margin	18.27%	22.51%	23.87%	21.39%	20.41%
Operating Margin	7.94%	14.37%	16.02%	20.17%	19.68%
Profit Margin	6.08%	10.99%	11.36%	13.55%	16.13%
Free Cash Flow Margin	-	6.30%	14.84%	9.53%	9.10%
EBITDA	2,846	5,210	5,596	6,879	5,425
EBITDA Margin	8.33%	14.70%	16.35%	20.43%	20.00%
D&A For EBITDA	132.43	115.53	110.16	87.08	85.95
EBIT	2,714	5,095	5,486	6,791	5,339
EBIT Margin	7.94%	14.37%	16.02%	20.17%	19.68%
Effective Tax Rate	25.07%	23.48%	23.86%	22.71%	23.41%
Revenue as Reported	34,187	35,441	34,233	33,671	27,131
Advertising Expenses	-	190.9	146	102.1	74.2

Updated Nov 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q