LENNAR CORP /NEW/
LEN, LEN-B · General Bldg Contractors - Residential Bldgs · 289.8M shares · -2%/yr ↓ buyback · EDGAR filings ↗
Net buyback after stock comp: $1.0B (gross $1.2B, SBC $161M)
Reference price $28.17 · est. market cap ~$8.2B — last insider sale, 2025-07-01 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
C67Scaled, well-capitalized homebuilder but with mid-pack returns and a sharp earnings/margin decline in a soft housing market.
Strengths
- Scale leader with strong liquidity (cash 95th pct) and modest leverage (D/E 0.27); ROA 6% (81st pct)
- Land-light strategy and even-flow production lowering capital intensity
Risks
- Net earnings fell from $3.9B to $2.1B with guided Q1 gross margins of just 15–16%; ROE only 9.5% (59th pct)
- Affordability-constrained demand requiring continued price cuts and potential land impairments
Notable findings
- Exec changeRecent 8-K item 5.02 8-K ↗
- Strong balance sheetStrong balance sheet — $3.8B cash & investments
- Revenue declineRevenue -29.3% YoY
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Net margin
6.1%
Return on equity
9.5%
Return on assets
6.0%
Revenue growth (QoQ)
-29.3%
Net-income growth
-47.2%
Debt / equity
0.3×
Free cash flow
$28M
Tangible book value
$18.3B
Cash & investments
$3.8B
Stock comp / revenue
0.5%
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-05-29 | SONNENFELD JEFFREY | Grant | 320 | $89.78 |
| 2026-05-29 | OLIVERA ARMANDO J | Grant | 501 | $89.78 |
| 2026-05-11 | MILLER STUART A | Gift | 2.0K | — |
| 2026-04-22 | SONNENFELD JEFFREY | Grant | 13 | $94.45 |
| 2026-04-22 | OLIVERA ARMANDO J | Grant | 14 | $94.45 |
| 2026-04-22 | Banse Amy | Grant | 12 | $94.45 |
| 2026-04-22 | McClure Teri P | Grant | 12 | $94.45 |
| 2026-04-22 | HUDSON SHERRILL W | Grant | 12 | $94.45 |
| 2026-04-22 | Gilliam Theron I | Grant | 12 | $94.45 |
| 2026-04-22 | Wolfe Serena | Grant | 12 | $94.45 |
| 2026-04-22 | Smith Dacona | Grant | 12 | $94.45 |
| 2026-04-08 | Banse Amy | Grant | 2.3K | — |
| 2026-04-08 | McClure Teri P | Grant | 2.3K | — |
| 2026-04-08 | Gilliam Theron I | Grant | 2.3K | — |
| 2026-04-08 | HUDSON SHERRILL W | Grant | 2.3K | — |
| 2026-04-08 | Wolfe Serena | Grant | 2.3K | — |
| 2026-04-08 | Smith Dacona | Grant | 2.3K | — |
| 2026-04-08 | SONNENFELD JEFFREY | Grant | 2.3K | — |
| 2026-04-08 | OLIVERA ARMANDO J | Grant | 2.3K | — |
| 2026-03-16 | MILLER STUART A | Disposition | 55K | — |
| 2026-03-16 | MILLER STUART A | Tax withheld | 60K | $95.95 |
| 2026-03-16 | BESSETTE DIANE J | Disposition | 4.9K | — |
| 2026-03-16 | BESSETTE DIANE J | Tax withheld | 4.7K | $95.95 |
| 2026-02-27 | SONNENFELD JEFFREY | Grant | 251 | $114.36 |
| 2026-02-27 | OLIVERA ARMANDO J | Grant | 393 | $114.36 |
| 2026-02-14 | Collins David M | Tax withheld | 1.2K | $122.28 |
| 2026-02-14 | Collins David M | Tax withheld | 836 | $122.28 |
| 2026-02-14 | Collins David M | Tax withheld | 998 | $122.28 |
| 2026-02-14 | Lee Martin Katherine | Tax withheld | 3.0K | $122.28 |
| 2026-02-14 | Lee Martin Katherine | Tax withheld | 989 | $122.28 |
| 2026-01-20 | MILLER STUART A | Grant | 161K | — |
| 2026-01-20 | MILLER STUART A | Grant | 69K | — |
| 2026-01-20 | MILLER STUART A | Tax withheld | 26K | $115.16 |
| 2026-01-20 | BESSETTE DIANE J | Grant | 21K | — |
| 2026-01-20 | BESSETTE DIANE J | Grant | 21K | — |
| 2026-01-20 | BESSETTE DIANE J | Tax withheld | 6.9K | $115.16 |
| 2026-01-20 | Collins David M | Grant | 8.7K | — |
| 2026-01-20 | Lee Martin Katherine | Grant | 8.7K | — |
| 2026-01-20 | Lee Martin Katherine | Grant | 8.7K | — |
| 2025-11-28 | Banse Amy | Grant | 133 | — |
| 2025-11-28 | McClure Teri P | Grant | 133 | — |
| 2025-11-28 | Smith Dacona | Grant | 133 | — |
| 2025-11-28 | Wolfe Serena | Grant | 133 | — |
| 2025-11-26 | LENNAR CORP /NEW/ | Other | 33.3M | — |
| 2025-11-26 | Banse Amy | Other | 220 | — |
| 2025-11-26 | MILLER STUART A | Other | 20K | — |
| 2025-11-26 | MILLER STUART A | Gift | 7.8K | — |
| 2025-10-02 | Lee Martin Katherine | Tax withheld | 3.0K | $128.33 |
| 2025-09-02 | Lee Martin Katherine | Grant | 30K | — |
| 2025-09-02 | Lee Martin Katherine | Grant | 7.5K | — |
| 2025-09-02 | Lee Martin Katherine | Grant | 7.5K | — |
| 2025-08-29 | McClure Teri P | Grant | 131 | — |
| 2025-08-29 | Smith Dacona | Grant | 131 | — |
| 2025-08-29 | Wolfe Serena | Grant | 131 | — |
| 2025-08-29 | Banse Amy | Grant | 131 | — |
| 2025-07-01 | Len FW Investor, LLC | Sell | 514K | $28.17 |
| 2025-05-30 | McClure Teri P | Grant | 164 | — |
| 2025-05-30 | Wolfe Serena | Grant | 164 | — |
| 2025-05-30 | Smith Dacona | Grant | 164 | — |
| 2025-05-30 | Banse Amy | Grant | 164 | — |
| 2025-04-09 | SONNENFELD JEFFREY | Grant | 1.2K | — |
| 2025-04-09 | Banse Amy | Grant | 1.2K | — |
| 2025-04-09 | McClure Teri P | Grant | 1.2K | — |
| 2025-04-09 | OLIVERA ARMANDO J | Grant | 1.2K | — |
| 2025-04-09 | Gilliam Theron I | Grant | 1.2K | — |
| 2025-04-09 | HUDSON SHERRILL W | Grant | 1.2K | — |
| 2025-04-09 | Wolfe Serena | Grant | 1.2K | — |
| 2025-04-09 | Smith Dacona | Grant | 1.2K | — |
| 2025-02-28 | Smith Dacona | Grant | 146 | — |
| 2025-02-28 | Wolfe Serena | Grant | 146 | — |
| 2025-02-28 | McClure Teri P | Grant | 146 | — |
| 2025-02-28 | Banse Amy | Grant | 146 | — |
| 2025-02-27 | MILLER STUART A | Disposition | 7.6K | — |
| 2025-02-27 | MILLER STUART A | Tax withheld | 41K | $120.37 |
| 2025-02-27 | MILLER STUART A | Disposition | 6.4K | — |
| 2025-02-27 | MILLER STUART A | Tax withheld | 35K | $120.37 |
| 2025-02-27 | JAFFE JONATHAN M | Disposition | 6.7K | — |
| 2025-02-27 | JAFFE JONATHAN M | Tax withheld | 34K | $120.37 |
| 2025-02-27 | JAFFE JONATHAN M | Disposition | 5.6K | — |
| 2025-02-27 | JAFFE JONATHAN M | Tax withheld | 28K | $120.37 |
| 2025-02-27 | BESSETTE DIANE J | Disposition | 904 | — |
| 2025-02-27 | BESSETTE DIANE J | Tax withheld | 4.6K | $120.37 |
| 2025-02-14 | Collins David M | Tax withheld | 1.2K | $123.84 |
| 2025-02-14 | Collins David M | Tax withheld | 1.2K | $123.84 |
| 2025-02-14 | Collins David M | Tax withheld | 835 | $123.84 |
| 2025-02-12 | MILLER STUART A | Gift | 8.5K | — |
| 2025-01-13 | MILLER STUART A | Grant | 141K | — |
| 2025-01-13 | MILLER STUART A | Grant | 60K | — |
| 2025-01-13 | MILLER STUART A | Tax withheld | 23K | $131.58 |
| 2025-01-13 | JAFFE JONATHAN M | Grant | 123K | — |
| 2025-01-13 | JAFFE JONATHAN M | Grant | 53K | — |
| 2025-01-13 | JAFFE JONATHAN M | Tax withheld | 20K | $131.58 |
| 2025-01-13 | BESSETTE DIANE J | Grant | 18K | — |
| 2025-01-13 | BESSETTE DIANE J | Grant | 18K | — |
| 2025-01-13 | BESSETTE DIANE J | Tax withheld | 6.0K | $131.58 |
| 2025-01-13 | SUSTANA MARK | Grant | 12K | — |
| 2025-01-13 | SUSTANA MARK | Tax withheld | 3.6K | $131.58 |
| 2025-01-13 | Collins David M | Grant | 7.6K | — |
All non-derivative Form 4 activity (SEC), newest first.
Notable events (8-K)
| Date | Items | |
|---|---|---|
| 2026-06-12 | Reg FDExhibits | filing ↗ |
| 2026-06-11 | ResultsExhibits | filing ↗ |
| 2026-06-08 | Exec/director changeReg FDExhibits | filing ↗ |
| 2026-04-13 | Shareholder voteExhibits | filing ↗ |
| 2026-03-12 | ResultsExhibits | filing ↗ |
| 2025-12-16 | ResultsExhibits | filing ↗ |
| 2025-11-14 | Exec/director changeReg FDExhibits | filing ↗ |
| 2025-09-19 | ResultsExhibits | filing ↗ |
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-06-12 | 2026-06-12 | 0001193125-26-268580 ↗ |
| 8-K | 2026-06-11 | 2026-06-11 | 0001628280-26-042551 ↗ |
| 8-K | 2026-06-08 | 2026-06-05 | 0001628280-26-041334 ↗ |
| 8-K | 2026-04-13 | 2026-04-08 | 0001628280-26-024894 ↗ |
| 10-Q | 2026-04-09 | 2026-02-28 | 0001628280-26-024352 ↗ |
| 8-K | 2026-03-12 | 2026-03-12 | 0001628280-26-017308 ↗ |
| 10-K | 2026-01-28 | 2025-11-30 | 0001628280-26-003870 ↗ |
| 8-K | 2025-12-16 | 2025-12-16 | 0001628280-25-057408 ↗ |
| 8-K | 2025-11-14 | 2025-11-12 | 0001628280-25-052423 ↗ |
| 10-Q | 2025-10-03 | 2025-08-31 | 0001628280-25-044086 ↗ |
| 8-K | 2025-09-19 | 2025-09-18 | 0000920760-25-000003 ↗ |
| 8-K | 2025-08-04 | 2025-07-30 | 0001628280-25-037455 ↗ |