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Lennar LEN Net debt

Discontinued — last reported Q1 '26

Net debt at other companies

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Other financials

Income statement

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Revenue$6.6B-13.3%
Net income$229.4M-55.8%
EPS (diluted)$2.57+24.8%

Balance sheet

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Cash & equivalents$2.4B-7.5%
Total debt$249.9M-2.4%
Total equity$21.9B-3.7%
Total assets$33.2B-5.1%

Cash flow

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Operating cash flow-$433.5M-50.0%
CapEx$30.0M-46.5%
Free cash flow-$463.5M-34.3%

Valuation

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Market cap$22.1B-10.7%
Enterprise value$19.96B-10.9%
P/E12.4×+5.7×
P/S0.7×0.0×

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

Calculated from Lennar’s reported figures.

The official record: Lennar’s 10-Q, filed April 9, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Lennar's net debt?
Lennar (LEN) reported net debt of -$2.14B in Q4 2025.
How has Lennar's net debt changed year-over-year?
Lennar's net debt increased by 8.0% year-over-year, from -$2.33B to -$2.14B.
What is the long-term trend for Lennar's net debt?
Over 5 years (2020 to 2025), Lennar's net debt has grown at a -12.9% compound annual growth rate (CAGR), from $4.61B to $2.31B.
What does net debt mean?
Debt left over after using all the company's cash to pay it down.
How do you interpret net debt?
A negative value means net cash — more cash than debt, a position of strength. The numerator of net-debt/EBITDA, the most common leverage yardstick.
How does net debt compare across companies?
Most informative as net-debt/EBITDA; cash-rich balance sheets can show large total debt yet little or negative net debt.