Business Segments · Consolidated inventory not owned
Homebuilding — Consolidated inventory not owned
Lennar Homebuilding — Consolidated inventory not owned decreased by 3.0% to $1.65B in Q4 2025 compared to the prior quarter. Year-over-year, this metric declined by 52.3%, from $3.45B to $1.65B. Over 4 years (FY 2021 to FY 2025), Homebuilding — Consolidated inventory not owned shows an upward trend with a 26.9% CAGR. This decline may warrant attention — for this metric, higher values are generally preferred.
Analysis
StatementSegment
CategoryCapital Allocation
SignalHigher is better
VolatilityModerate
First reportedQ4 2015
Last reportedQ1 2026
Rolls up toLand Under Purchase Options Recorded
How to read this metric
Higher levels indicate an asset-light strategy, reducing capital risk and improving return on assets.
Detailed definition
The value of real estate assets that the homebuilding segment controls through options or other contractual arrangements...
Peer comparison
A key metric for evaluating the capital efficiency and risk management of a homebuilder's land strategy.
Metric ID:
len_segment_homebuilding_consolidated_inventory_not_ownedHistorical Data
20 periods
| Q1 '21 | Q2 '21 | Q3 '21 | Q4 '21 | Q1 '22 | Q2 '22 | Q3 '22 | Q4 '22 | Q1 '23 | Q2 '23 | Q3 '23 | Q4 '23 | Q1 '24 | Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Value | $910.00M | $1.00B | $1.16B | $1.25B | $1.69B | $1.95B | $2.33B | $2.22B | $2.38B | $2.69B | $2.99B | $3.55B | $3.75B | $3.84B | $4.08B | $3.45B | $2.66B | $2.26B | $1.70B | $1.65B |
| QoQ Change | — | +10.4% | +15.6% | +7.4% | +35.4% | +15.6% | +19.6% | -4.6% | +7.2% | +12.8% | +11.4% | +18.6% | +5.8% | +2.4% | +6.3% | -15.4% | -23.0% | -15.1% | -24.9% | -3.0% |
| YoY Change | — | — | — | — | +85.4% | +94.1% | +100.8% | +78.4% | +41.2% | +37.8% | +28.4% | +59.6% | +57.5% | +43.0% | +36.5% | -2.6% | -29.1% | -41.2% | -58.5% | -52.3% |
Range$910.00M – $4.08B
CAGR+13.3%
Avg YoY Growth+29.9%
Median YoY Growth+39.5%
Current Streak5 quarters decline
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Frequently Asked Questions
- What is Lennar's homebuilding — consolidated inventory not owned?
- Lennar (LEN) reported homebuilding — consolidated inventory not owned of $1.65B in Q4 2025.
- How has Lennar's homebuilding — consolidated inventory not owned changed year-over-year?
- Lennar's homebuilding — consolidated inventory not owned decreased by 52.3% year-over-year, from $3.45B to $1.65B.
- 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 land controlled by the homebuilding segment through options rather than direct ownership.