Lennar (LEN) stock
Consumer Discretionary · Homebuilding
Lennar (LEN) is a Homebuilding company in the Consumer Discretionary sector, headquartered in Miami, Florida. As of October 23, 2026, LEN closed at $84.92, a market capitalization of $20.20 billion, the 404th largest company in the S&P 500. Over the last twelve months it generated $31.97 billion in revenue (-9% year over year) and $811.27 million in free cash flow. The stock trades at 16.1x trailing earnings and 16.3x forward earnings.
- 1-year total return: -31.8% (dividends reinvested)
- 5-year return: -1.0% a year
- 52-week range: $71.78 – $133.76
- Gross margin 16.0%, operating margin 5.7%
- Dividend yield: 2.36%, 2 straight years of increases
- FI Handbook report card: C- across 10 metrics
- 36th largest of 47 Consumer Discretionary stocks in the S&P 500
LEN price chart
1Y price change: -33.3% (price only; total returns below include dividends)
| Total return | 1M | YTD | 1Y | 3Y | 5Y | 10Y | MAX |
|---|---|---|---|---|---|---|---|
| LEN | +4.8% | -15.5% | -31.8% | -4.3% | -1.0% | +9.3% | +13.0% |
Dividends reinvested. 3Y and longer are annualized; MAX is annualized since 1980.
LEN key statistics
- Market cap
- $20.2B
- #404 in S&P 500
- P/E (TTM)
- 16.1x
- Forward P/E
- 16.3x
- EPS (TTM)
- $5.28
- Revenue (TTM)
- $32.0B
- -9%
- Free cash flow
- $811.3M
- Gross margin
- 16.0%
- Operating margin
- 5.7%
- Return on equity
- 6.0%
- Dividend yield
- 2.36%
- 52-week range
- $71.78 – $133.76
- Beta
- 1.38
- Price / sales
- 0.6x
- EV / EBITDA
- 12.7x
- Debt / equity
- 0.28x
- Employees
- 12,532
LEN report card
C-Ten fundamentals graded A to F against fixed thresholds. Not a buy or sell rating.
- Revenue growth-8.7%F
- Gross margin16.0%D
- Operating margin5.7%D
- FCF margin2.5%D
- Return on equity6.0%D
- Net debt / EBITDA2.5xD
- Forward P/E16.3xB
- PEG ratio11.3xF
- Shareholder yield11.3%A
- Share count change / yr-3.7%A
Lennar financials
Revenue went from $10.9B in fiscal 2016 to $34.2B in fiscal 2025, growing 13.5% a year.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $10.9B | $12.6B | $20.6B | $22.3B | $22.5B | $27.1B | $33.7B | $34.2B | $35.4B | $34.2B |
| Operating income | $1.6B | $1.5B | $2.5B | $2.8B | $3.5B | — | — | — | — | — |
| Net income | $911.8M | $810.5M | $1.7B | $1.8B | $2.5B | $4.4B | $4.6B | $3.9B | $3.9B | $2.1B |
| EPS (diluted) | $3.74 | $3.27 | $5.27 | $5.56 | $7.60 | $13.81 | $15.72 | $13.73 | $14.31 | — |
| Free cash flow | $431.4M | $870.6M | $1.6B | $1.4B | $4.1B | $2.5B | $3.2B | $5.1B | $2.2B | $28.2M |
| Buybacks | $19.9M | $27.1M | $299.8M | $523.1M | $321.5M | $1.4B | $1.0B | $1.2B | $2.3B | $1.8B |
| Dividends paid | $35.3M | $37.6M | $49.2M | $51.5M | $195.0M | $309.8M | $438.0M | $430.6M | $548.8M | $521.0M |
| Diluted shares | 243.1M | 245.0M | 318.7M | 328.9M | 319.6M | 316.7M | 289.8M | 283.3M | 272.0M | — |
Source: SEC filings (10-K XBRL). EPS and share counts are split-adjusted.
What's priced into LEN?
A reverse DCF asks what growth the current price requires. With an enterprise value of $25.1B and $811.3M of trailing free cash flow, Lennar needs to grow free cash flow about 21.7% a year for ten years (fading to 3.0% terminal growth) to earn a 10% annual return. For context, free cash flow grew -63.1% a year over the last five years.
P/E ratio history
Current 5.9x vs. median 12.6x (10th–90th percentile 6.3x–35.5x).
A model, not a forecast or advice. Small changes in assumptions move the answer a lot.
LEN dividend
- Dividend yield
- 2.36%
- Annual dividend
- $2.00
- Years of increases
- 2
- 5-yr dividend growth
- 40.7%
- per year
- Payout ratio
- 38%
- Payments per year
- 4
Regular dividends per share by calendar year; special dividends excluded. Current year omitted until complete.
LEN analyst price targets
15 analysts' average 12-month target is $77.73 (-8% vs. $84.92). Targets range from $63.00 to $120.00. 10% rate it a buy.
LEN earnings
Next report: December 15, 2026. Last quarter's revenue was $8.0B (-9% year over year).
| Report date | EPS estimate | EPS actual | Surprise |
|---|---|---|---|
| Sep 16, 2026 | $1.29 | $1.23 | -4.5% |
| Jun 11, 2026 | $1.23 | $1.31 | +6.2% |
| Mar 12, 2026 | $0.95 | $0.88 | -7.2% |
| Dec 16, 2025 | $2.18 | $2.03 | -6.8% |
| Sep 18, 2025 | $2.09 | $2.00 | -4.5% |
| Jun 16, 2025 | $1.94 | $1.90 | -2.0% |
| Mar 20, 2025 | $1.71 | $2.14 | +24.9% |
| Dec 18, 2024 | $4.12 | $4.03 | -2.3% |
Stocks like LEN
| Name | Today | 1Y | Mkt cap | P/E | |
|---|---|---|---|---|---|
 DHI D.R. Horton | -0.12% | -6% | $41.3B | 14.1x | Compare |
 PHM PulteGroup | +1.43% | +1% | $23.1B | 12.9x | Compare |
 NVR NVR | -2.08% | -22% | $16.0B | 16.5x | Compare |
 AMZN Amazon.com | -0.95% | +12% | $2.7T | 20.0x | Compare |
 TSLA Tesla | -0.63% | -17% | $1.5T | 409.0x | Compare |
 HD Home Depot | -2.41% | -15% | $319.1B | 21.5x | Compare |
 MCD McDonald's | -1.65% | -17% | $175.8B | 20.2x | Compare |
 TJX TJX Companies | -1.57% | +3% | $159.6B | 26.9x | Compare |
LEN news
- Did Falling Treasury Yields Just Shift Lennar's (LEN) Stock Narrative? · Oct 23, 2026
- What Could Lennar (LEN) Gain From Two Major Mixed Use Community Launches? · Oct 23, 2026
- CoStar Soars 6% on Keefe Bruyette Price Target Hike as Zillow, Lennar Rally · Oct 22, 2026
- Lennar Announces Grand Opening of King Oaks in McDonough, Georgia · Oct 22, 2026
- Lennar (LEN) Stock Sinks As Market Gains: What You Should Know · Oct 21, 2026
LEN stock FAQ
What is LEN's market cap?
Lennar's market capitalization is $20.20 billion as of October 23, 2026, ranking 404th in the S&P 500.
What is LEN's P/E ratio?
LEN trades at a trailing price-to-earnings ratio of 16.1x and a forward P/E of 16.3x. Its median P/E over the period we track is 12.6x.
Does LEN pay a dividend?
Yes. Lennar pays $2.00 per share a year, a 2.36% yield. It has raised its dividend 2 years in a row. Dividends grew 40.7% a year over the last five years.
How much has LEN stock returned?
Including reinvested dividends, LEN returned -31.8% over one year, -1.0% a year over five years, +9.3% a year over ten years through October 23, 2026.
Is LEN stock overvalued?
At today's price, a reverse discounted cash flow model (10% discount rate, 3% terminal growth) implies Lennar must grow free cash flow about 22% a year for the next decade. Its free cash flow fell 63% a year over the last five years. Whether that is achievable decides if the stock is cheap or expensive. This is a model, not advice.
What is the LEN price target?
15 analysts cover LEN with an average 12-month price target of $77.73, -8% from the current price. 10% of them rate it a buy.
When does LEN report earnings?
Lennar is expected to report earnings on December 15, 2026.
How many employees does Lennar have?
Lennar has about 12,532 full-time employees, or $2.6 million of revenue per employee.
Sources: SEC EDGAR filings, Yahoo Finance market data (delayed), FI Handbook calculations. Last close October 23, 2026. Methodology