What is Lennar's loans held for sale?

Lennar (LEN) reported loans held for sale of $1.25B in Q2 2021.

What does loans held for sale mean?

Originated mortgage loans intended for sale into the secondary market, carried at fair value or lower of cost/market.

Lennar LEN Loans held for sale

Discontinued — last reported Q3 '21

Loans held for sale at other companies

M/I HomesMHO

$261.81M+9.7%

PultegroupPHM

$509.27M-20.8%

D.R. HortonDHI

$2.68B+9.2%

Green Brick PartnersGRBK

$27.19M—

Taylor Morrison Home CorporationTMHC

$139M-38.2%

Century CommunitiesCCS

$213.95M+3.2%

Segments

By segment

See full

Lennar Financial Services$1.94B—

Lennar Other$0—

Other financials

Income statement

See full

Revenue$7.9B-5.2%

Net income$304.8M-36.2%

EPS (diluted)$2.57+24.8%

Balance sheet

See full

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

See full

Operating cash flow-$284.4M+74.0%

CapEx$18.9M+23.9%

Free cash flow-$303.2M+72.7%

Valuation

See full

Market cap$21.8B-26.6%

Enterprise value$19.86B-31.2%

P/E13.5×+3.4×

P/S0.7×-0.2×

Profitability

See full

Net margin5.4%-5.0pp

FCF margin-0.3%-4.7pp

Returns & leverage

See full

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 us-gaap:LoansReceivableHeldForSaleNetNotPartOfDisposalGroup.

The official record: Lennar’s 10-Q, filed October 1, 2021, on SEC EDGAR. View the filing →

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Questions, answered.

What is Lennar's loans held for sale?: Lennar (LEN) reported loans held for sale of $1.25B in Q2 2021.
What does loans held for sale mean?: Originated mortgage loans intended for sale into the secondary market, carried at fair value or lower of cost/market.