Lennar Homebuilding — Lennar's carrying value of investments decreased by 4.2% to $1.48B in Q4 2025 compared to the prior quarter. Year-over-year, this metric declined by 44.1%, from $2.65B to $1.48B. Over 4 years (FY 2021 to FY 2025), Homebuilding — Lennar's carrying value of investments shows an upward trend with a 23.9% CAGR.
An increase suggests a strategy of leveraging partnerships to share development risk, while a decrease may indicate a shift toward wholly-owned projects.
The book value of the homebuilding segment's investments in unconsolidated entities, such as joint ventures or partnersh...
Commonly used to assess the extent of off-balance-sheet or joint-venture activity in large homebuilders.
len_segment_homebuilding_lennar_s_carrying_value_of_investments| 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 | $1.01B | $983.43M | $972.08M | $1.07B | $1.08B | $1.17B | $1.17B | $1.18B | $1.14B | $1.16B | $1.14B | $1.21B | $1.26B | $1.31B | $1.34B | $2.65B | $2.70B | $2.65B | $1.55B | $1.48B |
| QoQ Change | — | -2.7% | -1.2% | +9.7% | +1.6% | +8.4% | -0.1% | +0.5% | -3.5% | +1.7% | -1.1% | +5.5% | +4.8% | +3.6% | +2.7% | +96.7% | +2.1% | -1.9% | -41.6% | -4.2% |
| YoY Change | — | — | — | — | +7.3% | +19.4% | +20.7% | +10.6% | +4.9% | -1.5% | -2.5% | +2.4% | +11.1% | +13.2% | +17.6% | +119.3% | +113.6% | +102.2% | +14.9% | -44.1% |