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Lennar LEN Homebuilding — Consolidated inventory not owned

Similar metrics at other companies

Hovnanian Enterprises, Inc. logo
HOVHome Building — Total Consolidated Inventory Not Owned
$369.12M+37.9%
Hovnanian Enterprises, Inc. logo
HOVHome Building — Inventory Real Estate
$1.72B-1.2%
KB Home logo
KBHHomebuilding — Inventories
$156.95M+4.3%
KB Home logo
KBHHomebuilding — Other Assets, Miscellaneous
$23.72M+29.9%
M/I Homes logo
MHOConsolidated inventory not owned
$13.73M+164%
KB Home logo
KBHHomebuilding — Investment in unconsolidated joint venture
$76.84M+25.4%

Other financials

Income statement

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Revenue$7.9B-5.2%
Net income$304.8M-36.2%
EPS (diluted)$2.57+24.8%

Balance sheet

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Cash & equivalents$2.2B+47.0%
Total debt$233.8M-12.2%
Total equity$21.6B-4.2%
Total assets$33.7B-2.0%

Cash flow

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Operating cash flow-$284.4M+74.0%
CapEx$18.9M+23.9%
Free cash flow-$303.2M+72.7%

Valuation

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Market cap$21.8B-26.6%
Enterprise value$19.86B-31.2%
P/E13.5×+3.4×
P/S0.7×-0.2×

Profitability

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Net margin5.4%-5.0pp
FCF margin-0.3%-4.7pp

Returns & leverage

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Return on equity8%-7.1pp
Debt / equity0.0×

Where this comes from

Reported directly by Lennar in its filing.

Tagged under the XBRL concept us-gaap:LandUnderPurchaseOptionsRecorded.

The official record: Lennar’s 10-Q, filed June 29, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Lennar's homebuilding — consolidated inventory not owned?
Lennar (LEN) reported homebuilding — consolidated inventory not owned of $1.49B in Q1 2026.
How has Lennar's homebuilding — consolidated inventory not owned changed year-over-year?
Lennar's homebuilding — consolidated inventory not owned decreased by 44.0% year-over-year, from $2.66B to $1.49B.
What is the long-term trend for Lennar's homebuilding — consolidated inventory not owned?
Over 4 years (2021 to 2025), Lennar's homebuilding — consolidated inventory not owned has grown at a 26.9% compound annual growth rate (CAGR), from $3.88B to $10.07B.
What does homebuilding — consolidated inventory not owned mean?
The value of real estate assets that the homebuilding segment controls through options or other contractual arrangements but does not legally own. This reflects the segment's ability to secure land for future development while minimizing capital commitment.