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Lennar Corp Stock Research

LEN

103.74USD+0.37(+0.36%)Market Closed

Market Summary

USD103.74+0.37
Market Closed
0.36%

LEN Stock Price

LEN RSI Chart

LEN Valuation

LEN Profitability

EBT Margin

17496.41%

Return on Equity

19.15%

Return on Assets

12.15%

LEN Fundamentals

LEN Revenue

Revenue (TTM)

34.4M

Revenue Y/Y

-99.67%

Revenue Q/Q

301.68%

LEN Earnings

Earnings (TTM)

4.6B

Earnings Y/Y

11.08%

Earnings Q/Q

-9.87%

Price Action

52 Week Range

61.94109.28
(Low)(High)

Last 7 days

-0.4%

Last 30 days

7.7%

Last 90 days

14.5%

Trailing 12 Months

25.5%

LEN Financial Health

Debt/Equity

0.31

Debt/Cashflow

0.28

LEN Investor Care

Diluted EPS (TTM)

15.72

Financials for Lennar

Income Statement (Last 12 Months)
(In Millions)
* denotes actual numbers (not divided by Millions)
Description(%) Q/Q2022Q42022Q32022Q22022Q12021Q4
Revenue-99.3%34.005,13210,23015,32820,425
  S&GA Expenses3.6%416402398--
Costs and Expenses5.4%23,92122,70122,052--
EBITDA4.4%6,1695,9075,3005,953-
EBITDA Margin84309.5%179.47*0.21*0.19*0.22*-
Earnings Before Taxes3.0%6,0155,8375,8275,1695,819
EBT Margin15284.4%174.96*1.14*0.21*0.18*0.21*
Interest Expenses42.2%68.0048.00---
Net Income2.9%4,6144,4824,4223,9324,430
Net Income Margin15268.8%134.23*0.87*0.16*0.14*0.16*
Free Cahsflow86.6%3,2081,7191,8162,0132,468
Balance Sheet
(In Millions)
Description(%) Q/Q2022Q42022Q32022Q22022Q12021Q4
Assets7.5%37,98435,34034,30632,63533,208
    Cash Equivalents210.4%4,8161,5511,5531,6062,956
  Net PPE-340----
Liabilities12.5%13,74412,21212,51611,78812,211
Shareholder's Equity4.9%24,10122,97721,79020,84720,816
  Retained Earnings6.9%18,86117,64716,28915,07914,685
  Additional Paid-In Capital0.5%5,4185,3885,3558,8558,808
Minority Interest-6.9%140150192168180
Cashflow (Last 12 Months)
(In Millions)
Description(%) Q/Q2022Q42022Q32022Q22022Q12021Q4
Cashflow From Operations84.3%3,2661,7721,8672,0752,533
  Share Based Compensation0.1%184184170167135
Cashflow From Investing-21.7%-128-105-119-31.73-105
Cashflow From Financing56.4%-1,277-2,927-2,977-3,032-2,404
  Dividend Payments8.0%438406374342310
  Buy Backs-45.2%1,0391,8962,1621,9421,430

Risks for LEN

What is the probability of a big loss on LEN?

71.5%


Probability that Lennar stock will be more than 20% underwater in next one year

46.9%


Probability that Lennar stock will be more than 30% underwater in next one year.

35.4%


Probability that Lennar stock will be more than 40% underwater in next one year.
*Calculated based on probability distribution of losses observed in actual data in the last 5 years.

How does LEN drawdown profile look like?

Y-axis is the maximum loss one would have experienced if Lennar was unfortunately bought at previous high price.

Drawdowns

Returns for LEN

Cumulative Returns on LEN

10.4%


10-Year Cumulative Returns

13.3%


7-Year Cumulative Returns

13.3%


5-Year Cumulative Returns

44.6%


3-Year Cumulative Returns

What are the long-term rolling returns for LEN?

FIve years rolling returns for Lennar.

Annualized Returns

Which funds bought or sold LEN recently?

View All Details
Datesorted ascendingFund NameType% Chg$ Change$ Held% Portfolio
2023-03-15
B. Riley Wealth Advisors, Inc.
reduced
-26.95
-102,733
800,267
0.02%
2023-03-10
VICTORY CAPITAL MANAGEMENT INC
added
3.07
6,310,620
31,436,600
0.03%
2023-03-10
VICTORY CAPITAL MANAGEMENT INC
added
0.67
89,498
425,498
-%
2023-03-06
Rockefeller Capital Management L.P.
unchanged
-
-
-
-%
2023-03-06
Rockefeller Capital Management L.P.
added
15.7
177,000
613,000
-%
2023-03-01
Lakewood Asset Management LLC
new
-
820,000
820,000
0.66%
2023-02-28
Voya Investment Management LLC
reduced
-32.54
-1,840,740
8,329,260
0.01%
2023-02-24
National Pension Service
reduced
-4.97
5,002,380
38,995,300
0.08%
2023-02-24
NATIXIS
reduced
-56.42
-5,017,000
5,590,000
0.03%
2023-02-24
NATIXIS
sold off
-100
-346,000
-
-%

1–10 of 46

Latest Funds Activity

Are funds buying LEN calls or puts?
Calls
Puts
Are funds bullish or bearish(Calls - Puts)?
Net Call Options
No. of funds that own LEN
No. of Funds

Lennar News

MarketWatch

Lennar Corp. Cl A stock rises Friday, still underperforms market.

MarketWatch,
38 hours ago

Stock Traders Daily

Lennar $LEN Investment Analysis and Advice.

Stock Traders Daily,
2 days ago

Investor's Business Daily

Barchart

InvestorPlace

Investor's Business Daily

Schedule 13G FIlings of Lennar

Date FiledName of FilerPercent of ClassNo. of SharesForm Type
Mar 06, 2023
gamco investors, inc. et al
4.06%
1,448,046
SC 13D/A
Feb 09, 2023
fmr llc
-
0
SC 13G/A
Feb 09, 2023
vanguard group inc
11.07%
28,212,757
SC 13G/A
Feb 06, 2023
wellington management group llp
5.82%
14,837,758
SC 13G
Feb 03, 2023
blackrock inc.
7.9%
20,105,068
SC 13G/A
Jan 10, 2023
capital world investors
10.1%
25,779,919
SC 13G
Feb 10, 2022
vanguard group inc
10.54%
28,650,363
SC 13G/A
Feb 09, 2022
fmr llc
-
0
SC 13G/A
Feb 01, 2022
blackrock inc.
8.4%
22,712,925
SC 13G/A
Feb 10, 2021
vanguard group inc
10.40%
28,599,421
SC 13G/A

LEN Fair Value

Recent SEC filings of Lennar

View All Filings
Date Filed Form Type Document
Mar 24, 2023
4
Insider Trading
Mar 14, 2023
8-K
Current Report
Mar 06, 2023
8-K
Current Report
Mar 06, 2023
SC 13D/A
13D - Major Acquisition
Mar 02, 2023
4
Insider Trading
Mar 02, 2023
4
Insider Trading
Mar 02, 2023
4
Insider Trading
Mar 02, 2023
4
Insider Trading
Mar 02, 2023
4
Insider Trading
Mar 02, 2023
4
Insider Trading
Jonathan M. Jaffe
10800
Lennar Corporation, together with its subsidiaries, operates as a homebuilder primarily under the Lennar brand in the United States. It operates through Homebuilding East, Homebuilding Central, Homebuilding Texas, Homebuilding West, Financial Services, Multifamily, and Lennar Other segments. The company's homebuilding operations include the construction and sale of single-family attached and detached homes, as well as the purchase, development, and sale of residential land; and development, construction, and management of multifamily rental properties. It also offers residential mortgage financing, title insurance, and closing services for home buyers and others, as well as originates and sells securitization commercial mortgage loans. In addition, the company is involved in the fund investment activity. It primarily serves first-time, move-up, active adult, and luxury homebuyers. Lennar Corporation was founded in 1954 and is based in Miami, Florida.

LEN Income Statement

2022-11-30
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) - USD ($)
$ in Thousands
12 Months Ended
Nov. 30, 2022
Nov. 30, 2021
Nov. 30, 2020
Costs and expenses:   
Equity in earnings (loss) from unconsolidated entities$ (36,302)$ 48,993$ (22,127)
Earnings before income taxes6,014,5665,819,0583,123,788
Provision for income taxes(1,366,065)(1,362,509)(656,235)
Net earnings (including net earnings attributable to noncontrolling interests)4,648,5014,456,5492,467,553
Less: Net earnings attributable to noncontrolling interests34,37626,4382,517
Net earnings attributable to Lennar4,614,1254,430,1112,465,036
Other comprehensive income (loss), net of tax:   
Net unrealized gain (loss) on securities available-for-sale1,464(536)(851)
Reclassification adjustments for gains included in net earnings2,2850(452)
Total other comprehensive income (loss), net of tax3,749(536)(1,303)
Total comprehensive income attributable to Lennar4,617,8744,429,5752,463,733
Total comprehensive income attributable to noncontrolling interests$ 34,376$ 26,438$ 2,517
Basic earnings per share (in USD per share)$ 15.74$ 14.28$ 7.88
Diluted earnings per share (in USD per share)$ 15.72$ 14.27$ 7.85
Operating Segments And Corporate Non Segment   
Costs and expenses:   
Total costs and expenses$ 26,949,763$ 22,052,243$ 19,373,164
Earnings before income taxes6,014,5665,819,0583,123,788
Operating Segments   
Revenues:   
Total revenues33,671,01027,130,67622,488,854
Corporate and unallocated   
Costs and expenses:   
Corporate general and administrative414,498398,381333,446
Contribution Expense66,39959,82524,972
Earnings before income taxes(480,897)(458,206)(358,418)
Homebuilding | Operating Segments   
Revenues:   
Total revenues31,951,33525,545,24220,981,136
Costs and expenses:   
Costs and expenses25,161,29920,502,54117,961,644
Equity in earnings (loss) from unconsolidated entities(17,235)(14,205)(836)
Other income (expense), net4,5163,266(29,749)
Earnings before income taxes6,777,3175,031,7622,988,907
Financial Services | Operating Segments   
Revenues:   
Total revenues809,680898,745890,311
Costs and expenses:   
Costs and expenses426,378407,731470,777
Financial Services gain on deconsolidation0061,418
Earnings before income taxes383,302491,014480,952
Multifamily | Operating Segments   
Revenues:   
Total revenues865,603665,232576,328
Costs and expenses:   
Costs and expenses848,931652,810575,581
Multifamily equity in earnings from unconsolidated entities and other gain52,8219,03121,934
Earnings before income taxes69,49321,45322,681
Lennar Other   
Costs and expenses:   
Lennar Other unrealized gain (loss) from technology investments(655,094)510,802 
Lennar Other | Operating Segments   
Revenues:   
Total revenues44,39221,45741,079
Costs and expenses:   
Costs and expenses32,25830,9556,744
Lennar Other equity in earnings (loss) from unconsolidated entities, other income (expense), net, and other gain (loss)(91,689)231,731(44,669)
Lennar Other unrealized gain (loss) from technology investments(655,094)510,8020
Earnings before income taxes$ (734,649)$ 733,035$ (10,334)

LEN Balance Sheet

2022-11-30
CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Nov. 30, 2022
Nov. 30, 2021
Inventories:  
Total assets[1]$ 37,984,295$ 33,207,778
Stockholders’ equity:  
Preferred stock[2]00
Additional paid-in capital[2]5,417,7968,807,891
Retained earnings[2]18,861,41714,685,329
Treasury stock, at cost; 2022 - 2,455,387 shares of Class A common stock and 419,860 shares of Class B common stock; 2021 - 38,586,961 shares of Class A common stock and 1,922,016 shares of Class B common stock[2](210,389)(2,709,448)
Accumulated other comprehensive income (loss)[2]2,408(1,341)
Total stockholders’ equity[2]24,100,50020,816,425
Noncontrolling interests[2]139,867179,857
Total equity[2]24,240,36720,996,282
Total liabilities[2]13,743,92812,211,496
Total liabilities and equity[2]37,984,29533,207,778
Class A Common Stock  
Stockholders’ equity:  
Common stock[2]25,60830,050
Class B Common Stock  
Stockholders’ equity:  
Common stock[2]3,6603,944
Homebuilding  
ASSETS  
Cash and cash equivalents[1]4,616,1242,735,213
Restricted cash[1]23,04621,927
Receivables, net[1]673,980490,278
Inventories:  
Finished homes and construction in progress[1]11,718,50710,446,139
Land and land under development[1]7,382,2737,108,142
Consolidated inventory not owned[1]2,331,2311,161,023
Total inventories[1]21,432,01118,715,304
Investments in unconsolidated entities[1]1,173,164972,084
Goodwill3,442,359[1]3,442,359
Other assets[1]1,323,4781,090,654
Total assets[1]32,684,16227,467,819
LIABILITIES AND EQUITY  
Accounts payable[2]1,616,1281,321,247
Liabilities related to consolidated inventory not owned[2]1,967,551976,602
Senior notes and other debts payable, net[2]4,047,2944,652,338
Other liabilities[2]3,347,6732,920,055
Stockholders’ equity:  
Total liabilities[2]10,978,6469,870,242
Financial Services  
Inventories:  
Total assets[1]3,254,2572,964,367
Stockholders’ equity:  
Total liabilities[2]2,353,9041,906,343
Multifamily  
Inventories:  
Total assets[1]1,257,3371,311,747
Stockholders’ equity:  
Total liabilities[2]313,484288,930
Lennar Other  
Inventories:  
Total assets[1]788,5391,463,845
Stockholders’ equity:  
Total liabilities[2]$ 97,894$ 145,981
[1]Under certain provisions of Accounting Standards Codification ("ASC") Topic 810, Consolidations, ("ASC 810") the Company is required to separately disclose on its consolidated balance sheets the assets of consolidated variable interest entities ("VIEs") that are owned by the consolidated VIEs and liabilities of consolidated VIEs as to which there is no recourse against the Company.
As of November 30, 2022, total assets include $1.4 billion related to consolidated VIEs of which $56.9 million is included in Homebuilding cash and cash equivalents, $0.3 million in Homebuilding receivables, net, $29.4 million in Homebuilding finished homes and construction in progress, $736.5 million in Homebuilding land and land under development, $533.8 million in Homebuilding consolidated inventory not owned, $1.0 million in Homebuilding investments in unconsolidated entities, $23.0 million in Homebuilding other assets, $33.2 million in Multifamily assets and$9.0 million in Lennar Other assets.
As of November 30, 2021, total assets include $1.1 billion related to consolidated VIEs of which $60.9 million is included in Homebuilding cash and cash equivalents, $4.4 million in Homebuilding receivables, net, $14.3 million in Homebuilding finished homes and construction in progress, $697.1 million in Homebuilding land and land under development, $239.2 million in Homebuilding consolidated inventory not owned, $1.1 million in Homebuilding investments in unconsolidated entities, $17.4 million in Homebuilding other assets and $80.6 million in Multifamily assets.
[2]As of November 30, 2022, total liabilities include $620.4 million related to consolidated VIEs as to which there was no recourse against the Company, of which $66.9 million is included in Homebuilding accounts payable, $510.9 million in Homebuilding liabilities related to consolidated inventory not owned, $29.4 million in Homebuilding senior notes and other debts payable, $7.2 million in Homebuilding other liabilities, $3.8 million in Multifamily liabilities and $2.2 millionin Lennar Other liabilities.As of November 30, 2021, total liabilities include $258.5 million related to consolidated VIEs as to which there was no recourse against the Company, of which $26.6 million is included in Homebuilding accounts payable, $196.6 million in Homebuilding liabilities related to consolidated inventory not owned, $20.1 million in Homebuilding senior notes and other debts payable, $12.3 million in Homebuilding other liabilities and $2.8 million in Multifamily liabilities.