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Screener / SEC EDGAR /CIK 0000920760 /10-K filed Jan 28, 2026, compared with Jan 23, 2025 /Numbers from the XBRL of the 10-Ks
Consumer discretionary peers:
BKNGCVNACCLDHILENMCD
NYSE Consumer discretionary · Homebuilders

Lennar LEN

LEN quote by TradingView
Headquarters
Miami, FL
CEO
Stuart A. Miller
Next results
around Dec 15, 2026
Compare with peers Embed

LEN among Consumer discretionary peers

Six ratios from the latest 10-K. Each corner is the share of 46 peers the company is above, not a score.

Compare
Revenue growth: -3.5%, above 2% of 46 peers (their median 5.9%) REVENUE GROWTH -3.5% · above 2% Net margin: 4.1%, above 15% of 46 peers (their median 11.0%) NET MARGIN 4.1% · above 15% FCF margin: 2.5%, above 9% of 44 peers (their median 9.5%) FCF MARGIN 2.5% · above 9%
LEN Peer median Below the median

What changed

2 new risk paragraphs and 2 accounting facts worth reading about. 10-K filed Jan 28, 2026 against Jan 23, 2025.

Risk factors
2 new paragraphs, nothing like them in the previous 10-K
10-K Item 1A
Cash from operations lower than net income
Cash from operations $216.8M vs net income $2.1B (FY ending Nov 30, 2025)
10-K · XBRL
Critical audit matters changed
New this year: Spin-off of Millrose Properties Inc. (Note 2 and 9) (“As described in Note 2 and 9 to the financial statements, on February 7, 2025, the Company completed the spin-off of its Millrose Properties Inc. (“Millrose”) business through a pro rata distribution of 80% of the outstanding shares of Millrose to Company stockholders. The Company subsequently dispo”)
10-K · XBRL
Accounting checks
8 other checks clear, 2 worth a look
10-K · XBRL
Insiders
No open-market buys in the last 90 days
Form 4
Filings
2 in the last 30 days
EDGAR

Each row opens the detail with the quote and the filing. A row is a change worth reading, not a verdict.

Accounting checks

10 checks on the latest 10-K. Checks, not verdicts.

How it works

2facts worth reading about the other 8 checks found nothing to note

  • Cash from operations lower than net income
    Cash from operations $216.8M vs net income $2.1B (FY ending Nov 30, 2025)
  • Critical audit matters changed
    New this year: Spin-off of Millrose Properties Inc. (Note 2 and 9) (“As described in Note 2 and 9 to the financial statements, on February 7, 2025, the Company completed the spin-off of its Millrose Properties Inc. (“Millrose”) business through a pro rata distribution of 80% of the outstanding shares of Millrose to Company stockholders. The Company subsequently dispo”)
  • Receivables -11.0% vs revenue -3.5% (-7.5 pts)
7 more checks with nothing to note
  • Same auditor in both 10-Ks: Deloitte & Touche LLP
  • No statement of substantial doubt about going concern
  • No 8-K item 4.02 in the last 2 years
  • No NT 10-K or NT 10-Q in the last 2 years
  • No sentence in the 10-K concludes that controls were not effective because of a material weakness
  • No 8-K item 2.06 in the last 2 years
  • No 8-K item 1.03 in the last 2 years

In their words

2 paragraphs in Risk Factors that were not in the 10-K filed Jan 23, 2025. Quoted as filed.

All 2 new paragraphs
  1. Item 1A · new paragraph · not in the 10-K filed Jan 23, 2025 10-K, ITEM 1A
    including while we seek legal enforcement. Even if we were to succeed in any legal proceedings against Millrose, there is no guarantee that a court would compel Millrose to deliver the homesites to us. Monetary damages may not be sufficient for us to fully recover our losses, particularly if we are not able to satisfy our obligations…

New risk paragraphs, against peers

Latest 10-K of each, Consumer discretionary companies closest in revenue

Paragraphs in Risk Factors with nothing like them in the company's 10-K the year before. A count of text, not of risk.

Financial performance

Last 4 fiscal years · 10-K XBRL

All years
MetricFY2022FY2023FY2024FY2025
Revenue$33.7B$34.2B$35.4B$34.2B
Net income$4.6B$3.9B$3.9B$2.1B
Operating cash flow$3.3B$5.2B$2.4B$216.8M
Free cash flow$3.2B$5.1B$2.2B$28.2M

Revenue, FY2016 to FY2025

Ten fiscal years, each from its own 10-K · XBRL · USD

$34.2B ▼ 3.5% in FY2025

FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Every number, year by year

Recent filings

2 filings in the last 30 days · SEC EDGAR

All filings

About the company

Lennar, Miami, FL · from the 10-K filed Jan 28, 2026

We are one of the largest homebuilders in the United States by deliveries, revenues and net earnings, an originator of residential and commercial mortgage loans, a provider of title insurance and closing services and a developer of multifamily rental properties. In addition, we are a sponsor and manager of funds and joint ventures engaged in development and ownership of multifamily rental properties and a sponsor and manager of a fund engaged in ownership of single-family rental properties. We also have investments in companies that are engaged in applying technology to improve the homebuilding industry and real estate related aspects of the financial services industry.

Headquarters
Miami, FL
Country
United States
Reports in
USD
Listed on
NYSE
Fiscal year ends
November 30
Last results
Sep 16, 2026
Incorporated in
DE

Email alerts

Sources

The 10-K filed Jan 28, 2026 (open at SEC), compared with the 10-K filed Jan 23, 2025. Numbers from the XBRL of the 10-Ks; filings from SEC EDGAR.

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