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Lennar LEN Q4 2025 Annual earnings

Reported January 28, 2026

Revenue$9.4B
EPS$1.94

Next report

Sep 17, 2026 (In 2 weeks)
Revenue estimate$8.3B
EPS estimate$1.30

Financials

Q4 2025

Income statement

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Revenue$9.4B-5.8%
Net income$490.2M-55.3%

Balance sheet

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Cash & equivalents$3.8B-23.2%
Total debt$6.1B+37.9%
Total equity$22.0B-21.2%
Total assets$34.4B-16.7%

Cash flow

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Operating cash flow$1.8B+80.6%
CapEx$85.2M+106%
Free cash flow$1.7B+79.4%

Valuation & ratios

Valuation

as of 11/30/25
See full
Market cap$32.43B-31.2%
Enterprise value$34.74B-25.4%
P/E15.6×+3.6×
P/S0.9×-0.4×

Profitability

See full
Net margin6.1%-5.0pp
FCF margin0.1%-6.2pp

Returns & leverage

See full
Return on equity8.3%-6.1pp
Debt / equity0.3×+0.1×

Segments

By segment

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West$3.2B-12.7%
Central$2.3B-4.4%
East$1.9B-11.9%
Lennar Financial Services$308.8M—
Multifamily$158.7M—

By product

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Land$51.7M-34.5%
General Contractor Services$49.1M-0.7%
Management Fee$24.9M+14.6%

FAQ

When did Lennar report Q4 2025 earnings?
Lennar (LEN) reported Q4 2025 earnings on January 28, 2026.
What were Lennar's Q4 2025 revenue and EPS?
Lennar reported revenue of $9.4B and eps of $1.94 for Q4 2025.
How did Lennar's Q4 2025 results compare year-over-year?
Compared to the same quarter a year prior, revenue declined 6.5% from $10.0B a year earlier and eps declined 52.7% from $4.10.
Where can I find Lennar's Q4 2025 SEC filings?
You can read the 10-K periodic report (0001628280-26-003870) directly on SEC EDGAR. The filing index links above go to sec.gov.