What is Lennar's multifamily — debt issuance costs?

Lennar (LEN) reported multifamily — debt issuance costs of $24.9M in Q3 2025.

How has Lennar's multifamily — debt issuance costs changed year-over-year?

Lennar's multifamily — debt issuance costs increased by 54.7% year-over-year, from $16.1M to $24.9M.

What does multifamily — debt issuance costs mean?

Costs incurred in connection with the issuance of debt specifically for multifamily projects, such as legal fees, underwriting commissions, and registration expenses. These costs are typically capitalized and amortized over the life of the related debt instrument.

Lennar LEN Multifamily — Debt issuance costs

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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 / equity0×0.0×

Where this comes from

Reported directly by Lennar in its filing.

Tagged under the XBRL concept len:EquityMethodInvestmentSummarizedFinancialInformationDebtIssuanceCostsNet.

The official record: Lennar’s 10-K, filed January 28, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Lennar's multifamily — debt issuance costs?: Lennar (LEN) reported multifamily — debt issuance costs of $24.9M in Q3 2025.
How has Lennar's multifamily — debt issuance costs changed year-over-year?: Lennar's multifamily — debt issuance costs increased by 54.7% year-over-year, from $16.1M to $24.9M.
What does multifamily — debt issuance costs mean?: Costs incurred in connection with the issuance of debt specifically for multifamily projects, such as legal fees, underwriting commissions, and registration expenses. These costs are typically capitalized and amortized over the life of the related debt instrument.