Lennar Corporation (LEN) Financial Ratios
30 years of historical data (1996–2025) · Consumer Cyclical · Residential Construction
EV/EBITDA
↑
8.59
+10% vs avg
5yr avg: 7.82
30Y Low3.9·High54.4
P/FCF
↑
790.53
↑+216% vs avg
5yr avg: 250.03
30Y Low1.0·High57.4
P/B Ratio
↓
1.04
↓-27% vs avg
5yr avg: 1.43
30Y Low0.4·High2.5
ROE
↓
8.3%
↑-49% vs avg
5yr avg: 16.2%
30Y Low-40%·High29%
Debt/EBITDA
↑
2.19
↑+77% vs avg
5yr avg: 1.24
30Y Low0.9·High36.3
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
LEN Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Lennar Corporation trades at 11.2x earnings, 10% above its 5-year average of 10.2x, sitting at the 63rd percentile of its historical range. Compared to the Consumer Cyclical sector median P/E of 21.2x, the stock trades at a discount of 47%. On a free-cash-flow basis, the stock trades at 790.5x P/FCF, 216% above the 5-year average of 250.0x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $22.3B | $33.8B | $47.4B | $36.2B | $25.5B | $32.2B | $23.5B | $19.0B | $13.2B | $14.9B | $10.0B |
| Enterprise Value | $24.8B | $36.4B | $46.9B | $34.8B | $27.0B | $35.8B | $28.1B | $27.1B | $21.7B | $20.2B | $14.9B |
| P/E Ratio → | 11.24 | 16.45 | 12.19 | 9.32 | 5.59 | 7.36 | 9.66 | 10.39 | 7.85 | 18.57 | 11.05 |
| P/S Ratio | 0.65 | 0.99 | 1.34 | 1.06 | 0.76 | 1.19 | 1.04 | 0.85 | 0.64 | 1.18 | 0.91 |
| P/B Ratio | 1.04 | 1.53 | 1.69 | 1.36 | 1.05 | 1.53 | 1.30 | 1.18 | 0.90 | 1.86 | 1.39 |
| P/FCF | 790.53 | 1200.80 | 21.25 | 7.13 | 7.93 | 13.05 | 5.70 | 13.61 | 8.34 | 16.82 | 23.21 |
| P/OCF | 102.76 | 156.09 | 19.74 | 7.00 | 7.79 | 12.72 | 5.60 | 12.81 | 7.70 | 14.94 | 19.71 |
P/E links to full P/E history page with 30-year chart
LEN EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
Lennar Corporation's enterprise value stands at 8.6x EBITDA, 10% above its 5-year average of 7.8x. The Consumer Cyclical sector median is 12.2x, placing the stock at a 29% discount on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 1.06 | 1.32 | 1.02 | 0.80 | 1.32 | 1.25 | 1.22 | 1.06 | 1.60 | 1.36 |
| EV / EBITDA | 8.59 | 12.60 | 9.45 | 6.27 | 3.93 | 6.86 | 8.69 | 10.53 | 10.44 | 14.37 | 11.38 |
| EV / EBIT | 9.01 | 12.86 | 9.01 | 6.67 | 4.48 | 6.13 | 8.95 | 10.93 | 10.92 | 15.08 | 11.83 |
| EV / FCF | — | 1289.91 | 21.02 | 6.86 | 8.42 | 14.52 | 6.82 | 19.42 | 13.74 | 22.82 | 34.63 |
LEN Profitability
Margins and return-on-capital ratios measuring operating efficiency
Lennar Corporation earns an operating margin of 8.0%, above the Consumer Cyclical sector average of 2.0%. Operating margins have compressed from 15.9% to 8.0% over the past 3 years, signaling potential cost pressures or competitive headwinds. ROE of 8.3% is modest. ROIC of 7.9% represents adequate returns on invested capital versus a sector median of 5.2%.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 9.9% | 9.9% | 15.5% | 17.4% | 21.4% | 20.4% | 15.4% | 12.6% | 11.3% | 12.8% | 13.7% |
| Operating Margin | 8.0% | 8.0% | 13.7% | 15.9% | 20.2% | 18.9% | 14.0% | 11.1% | 9.7% | 10.6% | 11.5% |
| Net Profit Margin | 6.1% | 6.1% | 11.1% | 11.5% | 13.7% | 16.3% | 11.0% | 8.3% | 8.2% | 6.4% | 8.3% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 8.3% | 8.3% | 14.4% | 15.5% | 20.4% | 22.7% | 14.4% | 12.0% | 15.0% | 10.7% | 13.9% |
| ROA | 5.5% | 5.5% | 9.8% | 10.2% | 13.0% | 14.0% | 8.3% | 6.4% | 7.2% | 4.8% | 6.1% |
| ROIC | 7.9% | 7.9% | 13.8% | 16.0% | 20.2% | 16.3% | 10.0% | 7.9% | 8.2% | 7.9% | 8.0% |
| ROCE | 8.8% | 8.8% | 14.7% | 16.8% | 22.4% | 18.6% | 11.9% | 9.8% | 9.8% | 9.2% | 10.1% |
LEN Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
Lennar Corporation carries a Debt/EBITDA ratio of 2.2x, which is manageable (54% below the sector average of 4.8x). Net debt stands at $2.5B ($6.3B total debt minus $3.8B cash). Interest coverage of 203.8x signals virtually no risk of debt distress — earnings comfortably cover interest obligations.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.29 | 0.29 | 0.16 | 0.19 | 0.26 | 0.31 | 0.42 | 0.60 | 0.69 | 1.00 | 0.87 |
| Debt / EBITDA | 2.19 | 2.19 | 0.90 | 0.93 | 0.92 | 1.25 | 2.33 | 3.72 | 4.86 | 5.67 | 4.78 |
| Net Debt / Equity | — | 0.11 | -0.02 | -0.05 | 0.06 | 0.17 | 0.26 | 0.51 | 0.58 | 0.66 | 0.68 |
| Net Debt / EBITDA | 0.87 | 0.87 | -0.11 | -0.26 | 0.23 | 0.69 | 1.43 | 3.15 | 4.10 | 3.78 | 3.76 |
| Debt / FCF | — | 89.12 | -0.24 | -0.28 | 0.49 | 1.46 | 1.12 | 5.81 | 5.40 | 6.00 | 11.43 |
| Interest Coverage | 203.82 | 203.82 | 277.22 | 338.07 | 315.44 | 289.90 | 140.20 | 140.81 | 176.79 | 186.91 | 272.88 |
LEN Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
Lennar Corporation's current ratio of 3.12x is well above the 1.0 safety threshold, indicating strong short-term liquidity with ample room to cover current liabilities. The quick ratio of 0.96x is notably lower than the current ratio, indicating a significant portion of current assets is tied up in inventory. The current ratio has declined from 4.04x to 3.12x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 3.12 | 3.12 | 3.44 | 4.04 | 4.83 | 5.06 | 6.49 | 6.16 | 4.91 | 5.46 | 4.56 |
| Quick Ratio | 0.96 | 0.96 | 0.85 | 1.23 | 1.10 | 0.92 | 1.19 | 0.71 | 0.65 | 1.23 | 0.85 |
| Cash Ratio | 0.69 | 0.69 | 0.64 | 0.97 | 0.82 | 0.63 | 0.90 | 0.44 | 0.39 | 1.02 | 0.54 |
| Asset Turnover | — | 0.99 | 0.86 | 0.87 | 0.89 | 0.82 | 0.75 | 0.76 | 0.72 | 0.67 | 0.71 |
| Inventory Turnover | 2.60 | 2.60 | 1.47 | 1.50 | 1.21 | 1.13 | 1.11 | 1.08 | 1.05 | 1.00 | 1.01 |
| Days Sales Outstanding | — | 15.70 | 17.02 | 18.09 | 17.50 | 17.45 | 15.23 | 14.87 | 18.49 | 15.03 | 26.00 |
LEN Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Lennar Corporation returns 10.4% to shareholders annually — split between a 2.3% dividend yield and 8.1% buyback yield. The payout ratio of 25.1% is conservative, leaving significant room for dividend growth or reinvestment. The earnings yield of 8.9% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 2.3% | 1.5% | 1.2% | 1.2% | 1.7% | 1.0% | 0.8% | 0.3% | 0.4% | 0.3% | 0.4% |
| Payout Ratio | 25.1% | 25.1% | 14.0% | 10.9% | 9.5% | 7.0% | 7.9% | 2.8% | 2.9% | 4.6% | 3.9% |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 8.9% | 6.1% | 8.2% | 10.7% | 17.9% | 13.6% | 10.3% | 9.6% | 12.7% | 5.4% | 9.1% |
| FCF Yield | 0.1% | 0.1% | 4.7% | 14.0% | 12.6% | 7.7% | 17.5% | 7.3% | 12.0% | 5.9% | 4.3% |
| Buyback Yield | 8.1% | 5.3% | 4.8% | 3.3% | 4.1% | 4.4% | 1.4% | 2.8% | 2.3% | 0.2% | 0.2% |
| Total Shareholder Yield | 10.4% | 6.9% | 5.9% | 4.5% | 5.8% | 5.4% | 2.2% | 3.0% | 2.6% | 0.4% | 0.6% |
| Shares Outstanding | — | $258M | $272M | $283M | $290M | $307M | $309M | $318M | $309M | $237M | $235M |
Peer Comparison
Compare LEN with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 LENYou | $22B | 11.2 | 8.6 | 790.5 | 9.9% | 8.0% | 8.3% | 7.9% | 2.2 |
 DHI | $46B | 13.6 | 10.8 | 13.9 | 23.7% | 12.9% | 14.2% | 12.1% | 1.3 |
 PHM | $24B | 11.4 | 8.0 | 14.0 | 26.4% | 17.3% | 17.7% | 17.2% | 0.8 |
 NVR | $18B | 14.9 | 9.6 | 16.4 | 23.0% | 16.2% | 33.2% | 43.8% | 0.7 |
 TOL | $15B | 11.5 | 9.1 | 14.4 | 26.0% | 15.7% | 16.9% | 13.4% | 1.6 |
 MHO | $4B | 10.1 | 8.0 | 31.8 | 23.0% | 11.5% | 13.2% | 11.3% | 2.1 |
 KBH | $3B | 8.8 | 8.7 | 11.8 | 18.9% | 8.4% | 10.8% | 7.4% | 3.1 |
 TPH | $4B | 17.3 | 11.7 | 31.1 | 22.0% | 9.7% | 7.2% | 7.2% | 3.5 |
 TMHC | $7B | 9.2 | 7.2 | 8.3 | 23.0% | 14.0% | 12.8% | 11.0% | 2.1 |
 SKY | $5B | 22.8 | 15.6 | 17.0 | 26.4% | 9.5% | 13.7% | 17.6% | 0.4 |
 CVCO | $5B | 25.1 | 17.5 | 19.9 | 23.5% | 10.2% | 17.6% | 21.0% | 0.1 |
| Consumer Cyclical Median | — | 21.2 | 12.2 | 15.6 | 36.2% | 2.0% | 5.3% | 5.2% | 4.8 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
Download Financial Ratios Data
Includes 30+ ratios · 30 years · Updated daily
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LEN — Frequently Asked Questions
Quick answers to the most common questions about buying LEN stock.
What is Lennar Corporation's P/E ratio?
Lennar Corporation's current P/E ratio is 11.2x. The historical average is 12.2x. This places it at the 63th percentile of its historical range.
What is Lennar Corporation's EV/EBITDA?
Lennar Corporation's current EV/EBITDA is 8.6x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 12.8x.
What is Lennar Corporation's ROE?
Lennar Corporation's return on equity (ROE) is 8.3%. The historical average is 12.2%.
Is LEN stock overvalued?
Based on historical data, Lennar Corporation is trading at a P/E of 11.2x. This is at the 63th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What is Lennar Corporation's dividend yield?
Lennar Corporation's current dividend yield is 2.25% with a payout ratio of 25.1%.
What are Lennar Corporation's profit margins?
Lennar Corporation has 9.9% gross margin and 8.0% operating margin.
How much debt does Lennar Corporation have?
Lennar Corporation's Debt/EBITDA ratio is 2.2x, indicating moderate leverage. A ratio between 2-4x is manageable but warrants monitoring.