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Lennar Corp Class A LEN

Morningstar Rating
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Stock XNYS Rating as of
$147.16 −2.70 (1.80%)
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As of Cboe BZX Real-Time Price Open
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Company Report

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Lennar Earnings: Incentives Continue to Support Steady Sales Pace; Portfolio Shift Moves Forward

Brian Bernard

Lennar's fiscal second-quarter (as of May 31) earnings report was largely in line with our expectations. Homeownership affordability remains challenging for many prospective buyers, with the average 30-year fixed mortgage rate persisting around 7%. Nevertheless, Lennar continues to enjoy a steady sales pace, supported by its use of sales incentives and less competition from the supply-constrained existing for-sale market.

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Price vs Fair Value

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LEN is trading at a 422% premium.
Price
$149.87
Fair Value
$926.00
Uncertainty
High
1-Star Price
$322.93
5-Star Price
$51.40
Economic Moat
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Capital Allocation
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Bulls Say, Bears Say

Bulls

The US housing market is undersupplied. This supply/demand imbalance will take years to address and should support pricing power for homebuilders.

Bears

Higher interest rates, lofty home prices, and economic uncertainty could stifle demand for new homes.

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News

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Trading Information

Previous Close Price
$149.86
Day Range
$147.09–150.80
52-Week Range
$102.91–172.59
Bid/Ask
$147.10 / $147.19
Market Cap
$41.04 Bil
Volume/Avg
333,409 / 2.1 Mil

Key Statistics

Price/Earnings (Normalized)
9.96
Price/Sales
1.17
Dividend Yield (Trailing)
1.17%
Dividend Yield (Forward)
1.33%
Total Yield
5.88%

Company Profile

Lennar is one of the largest public homebuilders in the United States. The company’s homebuilding operations target first-time, move-up, and active adult homebuyers mainly under the Lennar brand name. Lennar’s financial-services segment provides mortgage financing and related services to its homebuyers. Miami-based Lennar is also involved in multifamily and single-family for rent construction and has invested in numerous housing-related technology startups.
Sector
Consumer Cyclical
Industry
Residential Construction
Stock Style Box
Mid Value
Total Number of Employees
12,284
Website
https://www.lennar.com

Competitors

Valuation

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Metric
LEN
DHI
TOL
Price/Earnings (Normalized)
 9.969.598.36
Price/Book Value
 1.531.951.62
Price/Sales
 1.171.281.18
Price/Cash Flow
 8.539.116.94
Price/Earnings
LEN
DHI
TOL

Financial Strength

Metric
LEN
DHI
TOL
Quick Ratio
 3.161.340.42
Current Ratio
 17.6712.774.11
Interest Coverage
 354.1944.71—
Quick Ratio
LEN
DHI
TOL

Profitability

Metric
LEN
DHI
TOL
Return on Assets (Normalized)
 11.59%15.71%13.21%
Return on Equity (Normalized)
 16.95%22.98%24.16%
Return on Invested Capital (Normalized)
 14.43%18.42%16.56%
Return on Assets
LEN
DHI
TOL
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Residential Construction Industry Comparables

Screen With Investor
1-Day Chart
Name
Price
Morningstar Rating for Stocks
Capital Allocation
Economic Moat
Market Cap
D.R. Horton Inc
DHI
BsbqqgpQtbg$46.4 Bil
 Lennar Corp Class B
LEN.B
—Lxb$40.8 Bil
 NVR Inc
NVR
YcqfkbfmyzJpgp$23.8 Bil
 PulteGroup Inc
PHM
VdvrhxqktDczb$23.2 Bil
 Sekisui House Ltd
SKHSF
—Rtwcx$14.4 Bil
 Sekisui House Ltd ADR
SKHSY
—Hxmnk$14.4 Bil
 Toll Brothers Inc
TOL
ZwblyfdZtcz$11.8 Bil
 Sumitomo Forestry Co Ltd
SMFRF
—Fxpmr$6.5 Bil
 Taylor Wimpey PLC
TWODF
—Xpzg$6.4 Bil

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