--- title: "Lennar: Metrics Guide" description: "Lennar revenue, margins, cash flow and balance sheet figures by fiscal year, taken from its SEC filings, with the ratios computed and explained." canonical: https://www.getswoopr.com/stocks/companies/lennar/metrics/ source: "Swoopr Investment: https://www.getswoopr.com" --- # Lennar: Financial & Operating Metrics Guide ## Direct Answer Lennar reported revenue of $34.2 billion for the fiscal year ended November 30, 2025, net income of $2.1 billion, according to its SEC filings. Revenue fell 3.5% from the prior year. ## What Are Lennar's Key Financial Figures? | Fiscal year | FY2025ended November 30, 2025 | FY2024ended November 30, 2024 | FY2023ended November 30, 2023 | FY2022ended November 30, 2022 | | --- | --- | --- | --- | --- | | Revenue | $34.2 billion | $35.4 billion | $34.2 billion | $33.7 billion | | Operating income | Not reported | Not reported | Not reported | Not reported | | Operating margin | n/a | n/a | n/a | n/a | | Net income | $2.1 billion | $3.9 billion | $3.9 billion | $4.6 billion | | Net margin | 6.1% | 11.1% | 11.5% | 13.7% | | Operating cash flow | $217 million | $2.4 billion | $5.2 billion | $3.3 billion | | Capital expenditures | $189 million | $172 million | $100 million | $57 million | | Free cash flow | $28 million | $2.2 billion | $5.1 billion | $3.2 billion | Free cash flow (operating cash flow minus capital expenditures) was $28 million against net income of $2.1 billion; cash generation fell short of reported earnings, which is worth reconciling in the cash flow statement. ![Bar chart of Lennar revenue, net income for fiscal 2022 to 2025. In fiscal 2025, revenue was $34.2 billion and net income $2.1 billion.](https://www.getswoopr.com/images/charts/lennar-metrics-revenue-profit.webp) *Lennar revenue, operating income and net income by fiscal year, from the figures in the table above. Select the chart to open it full size.* ![Line chart of Lennar net margin for fiscal 2022 to 2025. In fiscal 2025, net margin was 6.1%.](https://www.getswoopr.com/images/charts/lennar-metrics-margins.webp) *Lennar operating margin and net margin by fiscal year: operating income and net income as a share of revenue. Select the chart to open it full size.* ![Bar chart of Lennar operating cash flow, capital expenditures, free cash flow for fiscal 2022 to 2025. In fiscal 2025, operating cash flow was $217 million, capital expenditures was $189 million, free cash flow was $28 million.](https://www.getswoopr.com/images/charts/lennar-metrics-cash-flow.webp) *Lennar operating cash flow, capital expenditures and free cash flow by fiscal year. Select the chart to open it full size.* ## What Does Lennar's Balance Sheet Show? | Cash and cash equivalents | $3.8 billion | | --- | --- | | Long-term debt | $5.9 billion | | Total assets | $34.4 billion | | Total liabilities | $12.3 billion | | Shareholders' equity | $22.0 billion | | Current ratio | n/a | Balance sheet values are as of the end of fiscal 2025. Income statement figures describe a whole year; balance sheet figures describe a single day, so the two answer different questions. ## Where These Numbers Come From Every figure on this page is a value Lennar reported in its own SEC filings, read from the SEC's XBRL data (accession 0001628280-26-003870 for fiscal year 2025). Ratios are computed from those reported values. Figures were retrieved on October 7, 2026; a later amendment or a new annual report can change them, and the filing itself always takes precedence over this summary. Each fiscal year is labeled by the calendar year in which it ended, so a company that names the same period differently in its own filings (many retailers whose year ends in January) may use another label. A year is left out of the table when the SEC data set holds no value for it. A figure shown as "Not reported" means the company did not file a value under the standard tag Swoopr reads, not that the amount was zero. This page is educational and describes reported history only; it is not a forecast or a recommendation. ## Frequently Asked Questions ### What was Lennar's revenue in fiscal 2025? Lennar reported revenue of $34.2 billion for the fiscal year ended November 30, 2025, according to its SEC filings. ### What is Lennar's operating margin? Lennar did not report operating income under the standard tag for fiscal 2025, so Swoopr does not compute an operating margin; the income statement in its 10-K shows how it presents profit. ### How much free cash flow did Lennar generate? Operating cash flow of $217 million less capital expenditures of $189 million gives free cash flow of $28 million for fiscal 2025. ## References - [SEC EDGAR: LENNAR CORP /NEW/ Form 10-K filed January 28, 2026](https://www.sec.gov/Archives/edgar/data/920760/000162828026003870/len-20251130.htm) - [SEC EDGAR: LENNAR CORP /NEW/ annual and quarterly filings](https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=920760&type=10-K) - [SEC: EDGAR application programming interfaces (XBRL frames and submissions data)](https://www.sec.gov/search-filings/edgar-application-programming-interfaces) ## Related Pages - [Lennar company dossier](https://www.getswoopr.com/stocks/companies/lennar/) - [Lennar financial metrics](https://www.getswoopr.com/stocks/companies/lennar/metrics/) - [Lennar financial risk indicators](https://www.getswoopr.com/stocks/companies/lennar/risks/) - [Lennar peer comparison](https://www.getswoopr.com/stocks/companies/lennar/competitors/) - [Lennar business model and revenue mix](https://www.getswoopr.com/stocks/companies/lennar/business-model/) - [Fundamental analysis guides](https://www.getswoopr.com/learn/fundamental-analysis/) **[Swoopr Editorial Team](https://www.getswoopr.com/authors/swoopr-editorial-team/)** Swoopr's editorial team produces independent investment education content reviewed for accuracy and clarity. 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