The series is stated in the current share scale after splits; dividends are not included in the price
Lennar builds homes nationwide and is getting land off its balance sheet.
A homebuilder traditionally holds plots for years and bears the risk that land prices fall. The company is steadily moving to a different model: the land is separated into its own structure and the builder buys plots as houses are sold. Capital stops being frozen and the return on it rises.
Volume is prioritised over price per house: the company would rather sell faster and cheaper, paying to buy down the buyer's mortgage rate, than hold a finished house unsold. That shows in the accounts as falling profitability at maintained volumes. Risks: mortgage rates, material prices and the stock of unsold homes. A dividend is paid and buybacks are active.
Based on the last 12 months of reports, through 31 May 2026
The sector median covers every company in the sector on the US market, loss-making ones included.
The issuer has several share classes — market cap covers the whole company.