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Lennar LEN House and land inventory

Discontinued — last reported Q4 '25

House and land inventory at other companies

Toll Brothers logo
Toll BrothersTOL
$11.38B+3.5%
KB Home logo
KB HomeKBH
$5.7B-4.0%
Pultegroup logo
PultegroupPHM
$13.3B+2.6%
Meritage Homes logo
Meritage HomesMTH
$5.96B+2.8%
Beazer Homes USA, Inc. logo
Beazer Homes USA, Inc.BZH
$2.25B+0.9%
Green Brick Partners logo
Green Brick PartnersGRBK
$2.16B+8.5%

Segments

By segment

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Lennar Financial Services$0—
Lennar Other$0—

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 us-gaap:InventoryOperativeBuilders.

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 house and land inventory?
Lennar (LEN) reported house and land inventory of $11.84B in Q3 2025.
What is the long-term trend for Lennar's house and land inventory?
Over 2 years (2020 to 2025), Lennar's house and land inventory has grown at a -17.0% compound annual growth rate (CAGR), from $17.18B to $11.84B.
What does house and land inventory mean?
This captures the value of houses and land currently under development or held for sale that are classified as non-current assets. It reflects the active pipeline of construction projects that are part of the company's long-term operational cycle. This is a key indicator of the scale of the company's ongoing homebuilding activity.