Lennar Corporation (LEN) income statement
NYSE · Consumer Cyclical · Residential Construction · 12,532 employees · CEO Stuart A. Miller
- Price
- $86.94 +1.73%
- Market cap
- $20.7B
- Enterprise value
- $23.8B
- Last report
- Q3 '26 filed 2026-10-02
- Next report
- 2026-12-15 EPS est. $1.47
Lennar Corporation (LEN) reported revenue of $8.05B for Q3 '26 (-8.7% year on year), operating income of $460M (5.7% of revenue) and net income of $284M. Over the last four quarters revenue was $32B.
Income statement
| Income statement | Trend | Q4 '23 | Q1 '24 | Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 | Q3 '26 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $11B | $7.31B | $8.77B | $9.42B | $9.95B | $7.63B | $8.38B | $8.81B | $9.37B | $6.62B | $7.94B | $8.05B | |
| Cost of revenue | $8.23B | $6.24B | $7.37B | $7.94B | $8.39B | $6.77B | $7.57B | $7.92B | $8.54B | $6.23B | $7.45B | $6.71B | |
| Gross profit | $2.73B | $1.08B | $1.4B | $1.47B | $1.56B | $861M | $804M | $893M | $829M | $391M | $490M | $1.33B | |
| Sales & marketing | $688M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| General & administrative | $136M | $157M | $157M | $165M | $170M | $147M | $156M | $171M | $162M | $158M | $136M | $852M | |
| Other operating expenses | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $5.9M | $20.8M | |
| Operating expenses | $824M | $157M | $157M | $165M | $170M | $147M | $156M | $171M | $162M | $158M | $142M | $873M | |
| Operating income | $1.91B | $918M | $1.24B | $1.31B | $1.39B | $714M | $649M | $721M | $667M | $233M | $348M | $460M | |
| Interest expense | $0 | $0 | $0 | $0 | $4.47M | $0 | $0 | $0 | $0 | $0 | $55.3M | $59.2M | |
| Other non-operating income (gains on investments, FX ...) | -$46M | -$12.9M | -$22.7M | -$228M | -$76.3M | $15.4M | $6.7M | -$69.5M | -$16.1M | -$69.4M | -$120M | $13.6M | |
| Total non-operating income | -$126M | $12.9M | $22.7M | $228M | $71.8M | -$15.4M | -$6.7M | $69.5M | $16.1M | $69.4M | $64.8M | -$72.7M | |
| Income before tax | $1.78B | $931M | $1.26B | $1.54B | $1.46B | $698M | $642M | $791M | $683M | $302M | $413M | $387M | |
| Income tax | $417M | $211M | $300M | $348M | $358M | $170M | $160M | $191M | $185M | $69.1M | $105M | $102M | |
| Net income | $1.36B | $719M | $954M | $1.16B | $1.1B | $520M | $477M | $591M | $490M | $229M | $308M | $284M | |
| EPS (basic) | $4.82 | $2.57 | $3.45 | $4.26 | $4.06 | $1.96 | $1.81 | $2.29 | $1.93 | $0.94 | $1.23 | $1.19 | |
| EPS (diluted) | $4.82 | $2.57 | $3.45 | $4.26 | $4.06 | $1.96 | $1.81 | $2.29 | $1.93 | $0.94 | $1.23 | $1.19 | |
| Shares (basic, weighted) | 279M | 277M | 274M | 270M | 267M | 263M | 262M | 256M | 252M | 244M | 243M | 238M | |
| Shares (diluted, weighted) | 279M | 277M | 274M | 270M | 267M | 263M | 262M | 256M | 252M | 244M | 243M | 238M | |
| Depreciation & amortization | $29M | $27.1M | $28.6M | $29.4M | $30.4M | $31.3M | $33.8M | $34.2M | $35M | $33.4M | $35.3M | $0 | |
| EBITDA | $1.99B | $958M | $1.29B | $1.56B | $1.49B | $730M | $676M | $825M | $718M | $336M | $504M | $446M |
| Income statement | Trend | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $10.9B | $12.6B | $20.6B | $22.3B | $22.5B | $27.1B | $33.7B | $34.2B | $35.4B | $34.2B | |
| Cost of revenue | $9.46B | $11B | $18.2B | $19.5B | $19B | $21.6B | $26.5B | $28.3B | $29.9B | $30.8B | |
| Gross profit | $1.49B | $1.62B | $2.33B | $2.8B | $3.47B | $5.54B | $7.2B | $5.94B | $5.5B | $3.39B | |
| General & administrative | $233M | $286M | $344M | $321M | $333M | $398M | $414M | $501M | $649M | $637M | |
| Operating expenses | $233M | $286M | $344M | $321M | $333M | $398M | $414M | $501M | $649M | $637M | |
| Operating income | $1.26B | $1.34B | $1.99B | $2.48B | $3.14B | $5.14B | $6.79B | $5.44B | $4.85B | $2.75B | |
| Interest expense | $4.63M | $7.16M | $11.3M | $17.6M | $22.4M | $20.1M | $19.1M | $15.4M | $18.8M | $13.9M | |
| Other non-operating income (gains on investments, FX ...) | $0 | $0 | $0 | $0 | $0 | -$701M | $754M | $222M | -$354M | -$77.3M | |
| Total non-operating income | $68.1M | -$149M | $272M | -$46.8M | -$16.9M | $681M | -$773M | -$237M | $335M | $63.5M | |
| Income before tax | $1.33B | $1.19B | $2.26B | $2.43B | $3.12B | $5.82B | $6.01B | $5.2B | $5.18B | $2.81B | |
| Income tax | $417M | $418M | $545M | $592M | $656M | $1.36B | $1.37B | $1.24B | $1.22B | $706M | |
| Net income | $912M | $810M | $1.7B | $1.85B | $2.47B | $4.43B | $4.61B | $3.94B | $3.93B | $2.08B | |
| EPS (basic) | $4.05 | $3.38 | $5.46 | $5.76 | $7.88 | $14.28 | $15.74 | $13.73 | $14.31 | $7.98 | |
| EPS (diluted) | $3.85 | $3.38 | $5.44 | $5.74 | $7.85 | $14.27 | $15.72 | $13.73 | $14.31 | $7.98 | |
| Shares (basic, weighted) | 223M | 237M | 308M | 318M | 309M | 307M | 290M | 283M | 272M | 258M | |
| Shares (diluted, weighted) | 235M | 237M | 309M | 318M | 309M | 307M | 290M | 283M | 272M | 258M | |
| Depreciation & amortization | $50.2M | $66.3M | $91.2M | $92.2M | $94.6M | $86M | $87.1M | $110M | $116M | $134M | |
| EBITDA | $1.31B | $1.41B | $2.08B | $2.57B | $3.24B | $5.93B | $6.12B | $5.33B | $5.32B | $2.96B |
Standardised from the company's filings; outflows and costs keep the sign the provider reports. Hover a period for its end date. Amounts in USD.
Revenue, operating income and growth
quarterlyMargins
quarterlyCosts as % of revenue
quarterlyThe other statements
Sources
Statements, segment revenue, metrics and estimates are standardised from the company's filings. Segment profits and every reported line: SEC EDGAR (XBRL). Filings read: 10-Q 2026-08-31, 10-Q 2026-05-31, 10-Q 2026-02-28, 10-K 2025-11-30, 10-Q 2025-08-31, 10-Q 2025-05-31, 10-Q 2025-02-28, 10-K 2024-11-30, 10-Q 2024-08-31
Data as of 2026-11-02