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Also traded in: Germany, Mexico

GuruFocus Financial Strength Rank measures how strong a company’s financial situation is. It is based on these factors

1. The debt burden that the company has as measured by its Interest coverage (current year).
2. Debt to revenue ratio. The lower, the better
3. Altman Z-score.

A company ranks high with financial strength is likely to withstand any business slowdowns and recessions.

Financial Strength : 7/10

vs
industry
vs
history
Cash-to-Debt N/A
LEN's Cash-to-Debt is ranked lower than
77% of the 722 Companies
in the Global Residential Construction industry.

( Industry Median: 5.01 vs. LEN: N/A )
Ranked among companies with meaningful Cash-to-Debt only.
LEN' s Cash-to-Debt Range Over the Past 10 Years
Min: 0.09  Med: 0.26 Max: 0.77
Current: N/A
0.09
0.77
Equity-to-Asset 0.46
LEN's Equity-to-Asset is ranked higher than
53% of the 666 Companies
in the Global Residential Construction industry.

( Industry Median: 0.45 vs. LEN: 0.46 )
Ranked among companies with meaningful Equity-to-Asset only.
LEN' s Equity-to-Asset Range Over the Past 10 Years
Min: 0.3  Med: 0.37 Max: 0.48
Current: 0.46
0.3
0.48
Interest Coverage 275.22
LEN's Interest Coverage is ranked higher than
68% of the 599 Companies
in the Global Residential Construction industry.

( Industry Median: 21.89 vs. LEN: 275.22 )
Ranked among companies with meaningful Interest Coverage only.
LEN' s Interest Coverage Range Over the Past 10 Years
Min: 1.14  Med: 16.27 Max: N/A
Current: 275.22
Piotroski F-Score: 6
Altman Z-Score: 2.95
Beneish M-Score: -1.83
WACC vs ROIC
8.59%
7.14%
WACC
ROIC
GuruFocus Profitability Rank ranks how profitable a company is and how likely the company’s business will stay that way. It is based on these factors:

1. Operating Margin
2. Trend of the Operating Margin (5-year average). The company with an uptrend profit margin has a higher rank.
••3. Consistency of the profitability
4. Piotroski F-Score
5. Predictability Rank•

The maximum rank is 10. A rank of 7 or higher means a higher profitability and may stay that way. A rank of 3 or lower indicates that the company has had trouble to make a profit.

Profitability Rank is not directly related to the Financial Strength Rank. But if a company is consistently profitable, its financial strength will be stronger.

Profitability & Growth : 8/10

vs
industry
vs
history
Operating Margin % 11.27
LEN's Operating Margin % is ranked higher than
81% of the 716 Companies
in the Global Residential Construction industry.

( Industry Median: 3.07 vs. LEN: 11.27 )
Ranked among companies with meaningful Operating Margin % only.
LEN' s Operating Margin % Range Over the Past 10 Years
Min: -25.78  Med: 5.88 Max: 11.85
Current: 11.27
-25.78
11.85
Net Margin % 7.96
LEN's Net Margin % is ranked higher than
79% of the 718 Companies
in the Global Residential Construction industry.

( Industry Median: 2.14 vs. LEN: 7.96 )
Ranked among companies with meaningful Net Margin % only.
LEN' s Net Margin % Range Over the Past 10 Years
Min: -24.24  Med: 5.59 Max: 16.54
Current: 7.96
-24.24
16.54
ROE % 14.30
LEN's ROE % is ranked higher than
76% of the 665 Companies
in the Global Residential Construction industry.

( Industry Median: 5.58 vs. LEN: 14.30 )
Ranked among companies with meaningful ROE % only.
LEN' s ROE % Range Over the Past 10 Years
Min: -40.76  Med: 8.12 Max: 21.87
Current: 14.3
-40.76
21.87
ROA % 6.09
LEN's ROA % is ranked higher than
75% of the 735 Companies
in the Global Residential Construction industry.

( Industry Median: 2.12 vs. LEN: 6.09 )
Ranked among companies with meaningful ROA % only.
LEN' s ROA % Range Over the Past 10 Years
Min: -18.05  Med: 2.81 Max: 6.96
Current: 6.09
-18.05
6.96
ROC (Joel Greenblatt) % 14.06
LEN's ROC (Joel Greenblatt) % is ranked higher than
60% of the 724 Companies
in the Global Residential Construction industry.

( Industry Median: 10.17 vs. LEN: 14.06 )
Ranked among companies with meaningful ROC (Joel Greenblatt) % only.
LEN' s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: -41.64  Med: 5.29 Max: 14.46
Current: 14.06
-41.64
14.46
3-Year Revenue Growth Rate 21.80
LEN's 3-Year Revenue Growth Rate is ranked higher than
91% of the 660 Companies
in the Global Residential Construction industry.

( Industry Median: 0.40 vs. LEN: 21.80 )
Ranked among companies with meaningful 3-Year Revenue Growth Rate only.
LEN' s 3-Year Revenue Growth Rate Range Over the Past 10 Years
Min: -43.4  Med: 17.5 Max: 29.8
Current: 21.8
-43.4
29.8
3-Year EBITDA Growth Rate 18.90
LEN's 3-Year EBITDA Growth Rate is ranked higher than
63% of the 523 Companies
in the Global Residential Construction industry.

( Industry Median: 9.10 vs. LEN: 18.90 )
Ranked among companies with meaningful 3-Year EBITDA Growth Rate only.
LEN' s 3-Year EBITDA Growth Rate Range Over the Past 10 Years
Min: -6.8  Med: 23.8 Max: 62
Current: 18.9
-6.8
62
3-Year EPS without NRI Growth Rate 22.30
LEN's 3-Year EPS without NRI Growth Rate is ranked higher than
66% of the 485 Companies
in the Global Residential Construction industry.

( Industry Median: 7.00 vs. LEN: 22.30 )
Ranked among companies with meaningful 3-Year EPS without NRI Growth Rate only.
LEN' s 3-Year EPS without NRI Growth Rate Range Over the Past 10 Years
Min: -7.4  Med: 32.5 Max: 80
Current: 22.3
-7.4
80
GuruFocus has detected 3 Warning Signs with Lennar Corp $LEN.
More than 500,000 people have already joined GuruFocus to track the stocks they follow and exchange investment ideas.
» LEN's 10-Y Financials

Financials (Next Earnings Date: 2017-03-29)


Revenue & Net Income
Cash & Debt
Operating Cash Flow & Free Cash Flow
Operating Cash Flow & Net Income

» Details

Guru Trades

Q1 2016

LEN Guru Trades in Q1 2016

Steven Cohen 103,200 sh (New)
Third Avenue Management 1,123,000 sh (New)
Louis Moore Bacon 22,817 sh (+44.28%)
Paul Tudor Jones 12,900 sh (+38.71%)
Scott Black 54,452 sh (+15.76%)
Barrow, Hanley, Mewhinney & Strauss 2,880,203 sh (+10.35%)
Manning & Napier Advisors, Inc Sold Out
Murray Stahl 101,305 sh (-5.41%)
Pioneer Investments 581,787 sh (-8.72%)
Ken Heebner 5,870,000 sh (-12.91%)
Mario Gabelli 33,577 sh (-47.92%)
» More
Q2 2016

LEN Guru Trades in Q2 2016

Jim Simons 187,700 sh (New)
Ray Dalio 25,700 sh (New)
David Dreman 797 sh (New)
Barrow, Hanley, Mewhinney & Strauss 2,986,303 sh (+3.68%)
Pioneer Investments Sold Out
Louis Moore Bacon Sold Out
Steven Cohen Sold Out
Paul Tudor Jones Sold Out
Murray Stahl 99,568 sh (-1.71%)
Scott Black 52,378 sh (-3.81%)
Third Avenue Management 1,063,600 sh (-5.29%)
Ken Heebner 5,480,000 sh (-6.64%)
Mario Gabelli 28,656 sh (-14.66%)
» More
Q3 2016

LEN Guru Trades in Q3 2016

John Burbank 5,700 sh (New)
Steven Cohen 628,600 sh (New)
Ray Dalio 38,471 sh (+49.69%)
David Dreman 797 sh (unchged)
Mario Gabelli Sold Out
Jim Simons Sold Out
Scott Black 50,482 sh (-3.62%)
Murray Stahl 92,141 sh (-7.46%)
Third Avenue Management 984,200 sh (-7.47%)
Barrow, Hanley, Mewhinney & Strauss 1,807,663 sh (-39.47%)
Ken Heebner 1,870,000 sh (-65.88%)
» More
Q4 2016

LEN Guru Trades in Q4 2016

Paul Tudor Jones 12,300 sh (New)
Jim Simons 1,188,400 sh (New)
Martin Whitman 571,000 sh (New)
David Dreman 9,564 sh (+1100.00%)
Ray Dalio 294,971 sh (+666.74%)
Third Avenue Management 2,951,947 sh (+199.93%)
Ronald Muhlenkamp 8,100 sh (unchged)
Steven Cohen 15,000 sh (unchged)
John Burbank Sold Out
Barrow, Hanley, Mewhinney & Strauss Sold Out
Scott Black 50,227 sh (-0.51%)
Ken Heebner 1,370,000 sh (-26.74%)
Steven Cohen 302,400 sh (-51.89%)
Murray Stahl 32,021 sh (-65.25%)
» More
» Details

Insider Trades

Latest Guru Trades with LEN

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Business Description

Industry: Homebuilding & Construction » Residential Construction    NAICS: 236115    SIC: 6513
Compare:NYSE:BZH » details
Traded in other countries:LNN.Germany, LEN.Mexico,
Lennar Corp is a homebuilders and a provider of financial services. Its homebuilding operations include the construction and sale of single-family attached and detached homes, and to a lesser extent multi-level residential buildings.

Lennar is the second-largest builder in the United States, with homebuilding operations in 19 states. The company's homebuilding operations target first-time, move-up, and active adult homebuyers under the Lennar brand name. Lennar's financial services segment provides mortgage financing and related services to its homebuyers and third parties. The Miami-based Lennar is also involved in ancillary multifamily construction, real estate investment, and asset management (Rialto), and master-planned community development (FivePoint) operations.

Guru Investment Theses on Lennar Corp

Third Avenue Management Comments on Lennar - Feb 01, 2017

We initiated Lennar (NYSE:LEN) in October, and thus wrote up our comments in our prior shareholder letter, but due to the shift in our letter cadence, we are republishing our thoughts from our initial purchase.

Marty Whitman said in October 1996: "Given Third Avenue's investment criteria, it is more accurate to view the situation as the industry selecting the Fund, rather than Third Avenue choosing the industries in which to invest' We think this quote superbly describes the opportunity the Value Fund saw in establishing a position in Lennar Corporation common in the quarter, as the shares sold off somewhat inexplicably from nearly $50 per share at their recent peak and allowed us to establish a position at just over $41.

We have followed Lennar for years as the Real Estate team reviewed the position at our weekly research meetings, and think the investment case has only improved on a fundamental level despite the widening valuation discount in the shares. Lennar meets every tenant of our investment philosophy.

The balance sheet is strong and improving. Homebuilding net debt to total capital has fallen to 33% as of FY4Q16. Much of this improvement is the result of management's soft pivot land strategy, which is reducing the duration of its owned land bank and converting its undervalued balance sheet assets into cash.

From a compounding point of view, Lennar continues to build value through developing its land bank into saleable housing units, and by monetizing further transaction values through its mortgage origination and title insurance offerings to its home buyers. Notably, we are pleased and supportive of Lennar's offer to acquire WCIC Communities (WCIC), a top holding of the Third Avenue Small-Cap Value Fund, as Miami-based Lennar knows WCIC's 100% based Florida assets intimately. Lennar not only sees compelling opportunities to monetize WCIC's over 14,000 homesites, but also synergy opportunities from management and supplier overlap. Further, in our opinion, Lennar negotiated an extremely good price for WCIC, which, when considering the value of WCIC's brokerage operation and the hidden value of WCIC's owned coastal tower pads, will likely bring tremendous value as Lennar has a strong balance sheet to move construction of these assets forward.

Lennar's resource conversion outlook is compelling, with management likely to monetize its non-homebuilding investments in FivePoint and Rialto over the next 12-18 months through sales or spin-outs, and then over time, potentially further monetize its Multi-Family and even its Financial Services divisions through sales or partnerships. The value creation of Rialto, its 3rd party asset-light asset management unit with over $7.3 billion in AUM, and of FivePoint, its development and management company with over 40,000 homesites and 20 million square feet of commercial real estate assets in highly coveted California markets are, in our opinion, completely overlooked by the markets from a net asset value perspective, as their income statement impact today belies their true value to Lennar despite being worth more than 25% of the underlying value.

Perhaps Lennar's most exciting aspect is the strength of the investment case and current undervaluation taken without the likely strong tailwind of an improving housing cycle. At our Value Conference we talked about taking advantage of optically poor headlines, and Lennar is a real-time example. We think some of the weakness in Lennar shares in October was due to a weak single family home starts number for September, down 9.5%. The noise of monthly home start numbers do not impact the long-term value we see in Lerman While Lennar's sales and earnings are likely to strengthen as the single family construction cycle continues to recover from an extended cyclical low looking back to 2007, we see this as icing on the cake of our strong investment case. At our cost of just over $41 per share, we see over 25% upside to our estimate of fair trading value of $53 per share, and longer term potential for shares to trade to over $66 per share if the single family cycle gains steam. trade to over $66 per share if the single family cycle gains steam.

From Third Avenue Management (Trades, Portfolio)'s fourth calendar quarter 2016 shareholder letter.

Check out Third Avenue Management,Martin Whitman latest stock trades

Third Avenue Comments on Lennar - Dec 13, 2016

At our Value Conference, our colleagues on the Real Estate team revisited one of Marty Whitman's quotes from October 1996: "Given Third Avenue's investment criteria, it is more accurate to view the situation as the industry selecting the Fund, rather than Third Avenue choosing the industries in which to invest!' We think this quote superbly describes the opportunity the Value Fund saw in establishing a position in Lennar Corporation common in the quarter, as the shares somewhat inexplicably sold off from nearly $50 at their recent peak and allowed us to establish a position at just over $41 per share.

We have followed Lennar (NYSE:LEN) for years as the Real Estate team reviewed the position at our weekly research meetings, and think the investment case has only improved on a fundamental level despite the widening valuation discount in the shares. Lennar meets every tenant of our investment philosophy.

The balance sheet is strong and improving. Net debt to total capital has fallen 5.3% since year-end 2011 to 45.8% as of 3Q16, and net debt to total assets is not challenging at 37%. Much of this improvement is the result of management's soft pivot land strategy, which is reducing the duration of its owned land bank and converting its undervalued balance sheet assets into cash. This balance sheet improvement should continue as Lennar's $400 million redeemable convertible debt matures in November 2016, which should further reduce balance sheet leverage by 200 basis points.

From a compounding point of view, Lennar continues to build value through developing its land bank into saleable housing units, and by monetizing further transaction values through its mortgage origination and title insurance offerings to its home buyers. Notably, we are pleased and supportive of Lennar's offer to acquire WCIC Communities (NYSE:WCIC), a top holding of the Third Avenue Small-Cap Value Fund, as Miami-based Lennar knows WCIC's 100% based Florida assets intimately. Lennar not only sees compelling opportunities to monetize WCIC's over 14,000 homesites, but also synergy opportunities from management and supplier overlap. Further, in our opinion, Lennar negotiated an extremely good price for WCIC, which when considering the value of WCIC's brokerage operation and the hidden value of WCIC's owned coastal tower pads, will likely bring tremendous value as Lennar has a strong balance sheet to move construction of these assets forward.

Lennar's resource conversion outlook is compelling, with management likely to monetize its non-homebuilding investments in FivePoint and Rialto over the next 12-18 months through sales or spin-outs, and then over time, potentially further monetize its Multi-Family and even its Financial Services divisions through sales or partnerships. The value creation of Rialto, its 3rd party asset-light asset management unit with over $7.3 billion in AUM, and of FivePoint, its development and management company with over 40,000 homesites and 20 million square feet of commercial real estate assets in highly coveted California markets are, in our opinion, completely overlooked by the markets from a net asset value perspective, as their income statement impact today belies their true value to Lennar despite being worth more than 25% of the underlying value.

Perhaps Lennar's most exciting aspect is the strength of the investment case and current undervaluation taken without the likely strong tailwind of an improving housing cycle. At our Value Conference we talked about taking advantage of optically poor headlines, and Lennar is another real-time example. We think some of the weakness in Lennar shares in October was due to a weak single family home starts number for September, down 9.5%. The noise of monthly home start numbers do not impact the long-term value we see in Lerman While Lennar's sales and earnings are likely to strengthen as the single family construction cycle continues to recover from an extended cyclical low looking back to 2007, we see this as icing on the cake of our strong investment case. At our cost of just over $41 per share, we see over 25% upside to our estimate of fair trading value of $53, and longer term potential for shares to trade to over $66 per share if the single family cycle gains steam.



From Third Avenue Management (Trades, Portfolio)'s Value Fund fourth quarter commentary.

Check out Third Avenue Management latest stock trades

Top Ranked Articles about Lennar Corp

Third Avenue Management Comments on Lennar Guru stock highlight
We initiated Lennar (NYSE:LEN) in October, and thus wrote up our comments in our prior shareholder letter, but due to the shift in our letter cadence, we are republishing our thoughts from our initial purchase. Read more...
Martin Whitman Invests in Homebuilder in 4th Quarter Most of guru's quarterly activity involves reducing positions
Martin Whitman (Trades, Portfolio), founder and portfolio manager of Third Avenue Value Fund, bought two new holdings in the fourth quarter (ended Oct. 31, 2016), but most of his activity involved reducing positions. Read more...
Third Avenue Comments on Lennar Guru stock highlight
At our Value Conference, our colleagues on the Real Estate team revisited one of Marty Whitman's quotes from October 1996: "Given Third Avenue's investment criteria, it is more accurate to view the situation as the industry selecting the Fund, rather than Third Avenue choosing the industries in which to invest!' We think this quote superbly describes the opportunity the Value Fund saw in establishing a position in Lennar Corporation common in the quarter, as the shares somewhat inexplicably sold off from nearly $50 at their recent peak and allowed us to establish a position at just over $41 per share.

We have followed Lennar (NYSE:LEN) for years as the Real Estate team reviewed the position at our weekly research meetings, and think the investment case has only improved on a fundamental level despite the widening valuation discount in the shares. Lennar meets every tenant of our investment philosophy.

The balance sheet is strong and improving. Net debt to total capital has fallen 5.3% Read more...
Ken Heebner Cuts Lennar, Buys Western Digital, Micron An overview of the guru's largest trades in the 3rd quarter
Ken Heebner (Trades, Portfolio) is the co-founder of Capital Growth Management, a money manager with more than $6 billion under management. During the third quarter the guru’s largest trades were as follows: Read more...
Marty Whitman's Third Avenue Buys Lennar, Fidelity, Howard Hughes Veteran investor buys seven stocks, increases top two sectors
Marty Whitman, veteran investor and founder of Third Avenue Management (Trades, Portfolio), said in his recent shareholder letter that his team was “taking the opportunity to deploy capital in some of what we believe are the most unduly punished names in the portfolio as well as in new investment opportunities.” In the first quarter, he acted on seven of those opportunities. Read more...
Scott Black Takes Stake in Lennar Corp. Homebuilding company's sales have increased over past 3 years
Guru Scott Black (Trades, Portfolio) is a Portland, Maine native who has over 40 years of investment experience. Black graduated with from Johns Hopkins University in applied mathematics and economics. He later earned an MBA in finance at the Harvard Business School in 1971. Read more...

Ratios

vs
industry
vs
history
PE Ratio 13.22
LEN's PE Ratio is ranked higher than
56% of the 562 Companies
in the Global Residential Construction industry.

( Industry Median: 14.46 vs. LEN: 13.22 )
Ranked among companies with meaningful PE Ratio only.
LEN' s PE Ratio Range Over the Past 10 Years
Min: 4.37  Med: 15.86 Max: 69.29
Current: 13.22
4.37
69.29
Forward PE Ratio 12.11
LEN's Forward PE Ratio is ranked lower than
75% of the 48 Companies
in the Global Residential Construction industry.

( Industry Median: 10.31 vs. LEN: 12.11 )
Ranked among companies with meaningful Forward PE Ratio only.
N/A
PE Ratio without NRI 13.22
LEN's PE Ratio without NRI is ranked higher than
54% of the 555 Companies
in the Global Residential Construction industry.

( Industry Median: 14.20 vs. LEN: 13.22 )
Ranked among companies with meaningful PE Ratio without NRI only.
LEN' s PE Ratio without NRI Range Over the Past 10 Years
Min: 4.37  Med: 15.86 Max: 69.29
Current: 13.22
4.37
69.29
Price-to-Owner-Earnings 33.49
LEN's Price-to-Owner-Earnings is ranked lower than
77% of the 247 Companies
in the Global Residential Construction industry.

( Industry Median: 15.16 vs. LEN: 33.49 )
Ranked among companies with meaningful Price-to-Owner-Earnings only.
LEN' s Price-to-Owner-Earnings Range Over the Past 10 Years
Min: 1.06  Med: 27.57 Max: 1009.07
Current: 33.49
1.06
1009.07
PB Ratio 1.65
LEN's PB Ratio is ranked lower than
65% of the 685 Companies
in the Global Residential Construction industry.

( Industry Median: 1.14 vs. LEN: 1.65 )
Ranked among companies with meaningful PB Ratio only.
LEN' s PB Ratio Range Over the Past 10 Years
Min: 0.22  Med: 1.41 Max: 2.37
Current: 1.65
0.22
2.37
PS Ratio 1.07
LEN's PS Ratio is ranked lower than
61% of the 737 Companies
in the Global Residential Construction industry.

( Industry Median: 0.74 vs. LEN: 1.07 )
Ranked among companies with meaningful PS Ratio only.
LEN' s PS Ratio Range Over the Past 10 Years
Min: 0.13  Med: 1.03 Max: 2.29
Current: 1.07
0.13
2.29
Price-to-Free-Cash-Flow 25.93
LEN's Price-to-Free-Cash-Flow is ranked lower than
75% of the 196 Companies
in the Global Residential Construction industry.

( Industry Median: 13.67 vs. LEN: 25.93 )
Ranked among companies with meaningful Price-to-Free-Cash-Flow only.
LEN' s Price-to-Free-Cash-Flow Range Over the Past 10 Years
Min: 0.52  Med: 7.58 Max: 1890
Current: 25.93
0.52
1890
Price-to-Operating-Cash-Flow 23.31
LEN's Price-to-Operating-Cash-Flow is ranked lower than
79% of the 267 Companies
in the Global Residential Construction industry.

( Industry Median: 9.62 vs. LEN: 23.31 )
Ranked among companies with meaningful Price-to-Operating-Cash-Flow only.
LEN' s Price-to-Operating-Cash-Flow Range Over the Past 10 Years
Min: 0.52  Med: 7.41 Max: 590.62
Current: 23.31
0.52
590.62
EV-to-EBIT 12.93
LEN's EV-to-EBIT is ranked lower than
58% of the 574 Companies
in the Global Residential Construction industry.

( Industry Median: 10.88 vs. LEN: 12.93 )
Ranked among companies with meaningful EV-to-EBIT only.
LEN' s EV-to-EBIT Range Over the Past 10 Years
Min: -37  Med: 13.7 Max: 62.4
Current: 12.93
-37
62.4
EV-to-EBITDA 12.55
LEN's EV-to-EBITDA is ranked lower than
64% of the 613 Companies
in the Global Residential Construction industry.

( Industry Median: 8.98 vs. LEN: 12.55 )
Ranked among companies with meaningful EV-to-EBITDA only.
LEN' s EV-to-EBITDA Range Over the Past 10 Years
Min: -40.7  Med: 13.2 Max: 53.9
Current: 12.55
-40.7
53.9
PEG Ratio 0.30
LEN's PEG Ratio is ranked higher than
82% of the 229 Companies
in the Global Residential Construction industry.

( Industry Median: 1.12 vs. LEN: 0.30 )
Ranked among companies with meaningful PEG Ratio only.
LEN' s PEG Ratio Range Over the Past 10 Years
Min: 0.18  Med: 0.24 Max: 1.88
Current: 0.3
0.18
1.88
Current Ratio 4.56
LEN's Current Ratio is ranked higher than
86% of the 467 Companies
in the Global Residential Construction industry.

( Industry Median: 1.70 vs. LEN: 4.56 )
Ranked among companies with meaningful Current Ratio only.
LEN' s Current Ratio Range Over the Past 10 Years
Min: 3.38  Med: 4.91 Max: 15.47
Current: 4.56
3.38
15.47
Quick Ratio 0.85
LEN's Quick Ratio is ranked lower than
56% of the 467 Companies
in the Global Residential Construction industry.

( Industry Median: 0.98 vs. LEN: 0.85 )
Ranked among companies with meaningful Quick Ratio only.
LEN' s Quick Ratio Range Over the Past 10 Years
Min: 0.16  Med: 1.21 Max: 3.51
Current: 0.85
0.16
3.51
Days Inventory 353.53
LEN's Days Inventory is ranked lower than
91% of the 653 Companies
in the Global Residential Construction industry.

( Industry Median: 76.79 vs. LEN: 353.53 )
Ranked among companies with meaningful Days Inventory only.
LEN' s Days Inventory Range Over the Past 10 Years
Min: 178.06  Med: 409.4 Max: 537.43
Current: 353.53
178.06
537.43
Days Sales Outstanding 2.17
LEN's Days Sales Outstanding is ranked higher than
95% of the 584 Companies
in the Global Residential Construction industry.

( Industry Median: 46.79 vs. LEN: 2.17 )
Ranked among companies with meaningful Days Sales Outstanding only.
LEN' s Days Sales Outstanding Range Over the Past 10 Years
Min: 1.48  Med: 2.62 Max: 15.35
Current: 2.17
1.48
15.35
Days Payable 22.27
LEN's Days Payable is ranked lower than
70% of the 557 Companies
in the Global Residential Construction industry.

( Industry Median: 41.40 vs. LEN: 22.27 )
Ranked among companies with meaningful Days Payable only.
LEN' s Days Payable Range Over the Past 10 Years
Min: 10.86  Med: 21.74 Max: 25.34
Current: 22.27
10.86
25.34

Dividend & Buy Back

vs
industry
vs
history
Dividend Yield % 0.31
LEN's Dividend Yield % is ranked lower than
93% of the 493 Companies
in the Global Residential Construction industry.

( Industry Median: 2.00 vs. LEN: 0.31 )
Ranked among companies with meaningful Dividend Yield % only.
LEN' s Dividend Yield % Range Over the Past 10 Years
Min: 0.3  Med: 0.81 Max: 14.29
Current: 0.31
0.3
14.29
Dividend Payout Ratio 0.04
LEN's Dividend Payout Ratio is ranked higher than
98% of the 316 Companies
in the Global Residential Construction industry.

( Industry Median: 0.30 vs. LEN: 0.04 )
Ranked among companies with meaningful Dividend Payout Ratio only.
LEN' s Dividend Payout Ratio Range Over the Past 10 Years
Min: 0.04  Med: 0.06 Max: 0.33
Current: 0.04
0.04
0.33
Forward Dividend Yield % 0.31
LEN's Forward Dividend Yield % is ranked lower than
94% of the 482 Companies
in the Global Residential Construction industry.

( Industry Median: 2.13 vs. LEN: 0.31 )
Ranked among companies with meaningful Forward Dividend Yield % only.
N/A
5-Year Yield-on-Cost % 0.31
LEN's 5-Year Yield-on-Cost % is ranked lower than
93% of the 625 Companies
in the Global Residential Construction industry.

( Industry Median: 2.55 vs. LEN: 0.31 )
Ranked among companies with meaningful 5-Year Yield-on-Cost % only.
LEN' s 5-Year Yield-on-Cost % Range Over the Past 10 Years
Min: 0.3  Med: 0.81 Max: 14.29
Current: 0.31
0.3
14.29
3-Year Average Share Buyback Ratio -3.70
LEN's 3-Year Average Share Buyback Ratio is ranked lower than
61% of the 274 Companies
in the Global Residential Construction industry.

( Industry Median: -1.20 vs. LEN: -3.70 )
Ranked among companies with meaningful 3-Year Average Share Buyback Ratio only.
LEN' s 3-Year Average Share Buyback Ratio Range Over the Past 10 Years
Min: -9.1  Med: -3.7 Max: -0.1
Current: -3.7
-9.1
-0.1

Valuation & Return

vs
industry
vs
history
Price-to-Net-Current-Asset-Value 3.72
LEN's Price-to-Net-Current-Asset-Value is ranked lower than
56% of the 376 Companies
in the Global Residential Construction industry.

( Industry Median: 3.11 vs. LEN: 3.72 )
Ranked among companies with meaningful Price-to-Net-Current-Asset-Value only.
LEN' s Price-to-Net-Current-Asset-Value Range Over the Past 10 Years
Min: 0.81  Med: 4.68 Max: 24
Current: 3.72
0.81
24
Price-to-Tangible-Book 1.66
LEN's Price-to-Tangible-Book is ranked lower than
64% of the 667 Companies
in the Global Residential Construction industry.

( Industry Median: 1.17 vs. LEN: 1.66 )
Ranked among companies with meaningful Price-to-Tangible-Book only.
LEN' s Price-to-Tangible-Book Range Over the Past 10 Years
Min: 0.44  Med: 1.58 Max: 2.37
Current: 1.66
0.44
2.37
Price-to-Median-PS-Value 1.04
LEN's Price-to-Median-PS-Value is ranked higher than
64% of the 705 Companies
in the Global Residential Construction industry.

( Industry Median: 1.31 vs. LEN: 1.04 )
Ranked among companies with meaningful Price-to-Median-PS-Value only.
LEN' s Price-to-Median-PS-Value Range Over the Past 10 Years
Min: 0.24  Med: 0.66 Max: 1.96
Current: 1.04
0.24
1.96
Price-to-Peter-Lynch-Fair-Value 0.52
LEN's Price-to-Peter-Lynch-Fair-Value is ranked higher than
67% of the 145 Companies
in the Global Residential Construction industry.

( Industry Median: 0.79 vs. LEN: 0.52 )
Ranked among companies with meaningful Price-to-Peter-Lynch-Fair-Value only.
LEN' s Price-to-Peter-Lynch-Fair-Value Range Over the Past 10 Years
Min: 0.29  Med: 0.52 Max: 77.41
Current: 0.52
0.29
77.41
Price-to-Graham-Number 0.98
LEN's Price-to-Graham-Number is ranked lower than
53% of the 444 Companies
in the Global Residential Construction industry.

( Industry Median: 0.97 vs. LEN: 0.98 )
Ranked among companies with meaningful Price-to-Graham-Number only.
LEN' s Price-to-Graham-Number Range Over the Past 10 Years
Min: 0.51  Med: 0.98 Max: 1.49
Current: 0.98
0.51
1.49
Earnings Yield (Greenblatt) % 7.73
LEN's Earnings Yield (Greenblatt) % is ranked higher than
58% of the 670 Companies
in the Global Residential Construction industry.

( Industry Median: 6.00 vs. LEN: 7.73 )
Ranked among companies with meaningful Earnings Yield (Greenblatt) % only.
LEN' s Earnings Yield (Greenblatt) % Range Over the Past 10 Years
Min: 1.6  Med: 6 Max: 21
Current: 7.73
1.6
21
Forward Rate of Return (Yacktman) % 45.25
LEN's Forward Rate of Return (Yacktman) % is ranked higher than
89% of the 303 Companies
in the Global Residential Construction industry.

( Industry Median: 11.25 vs. LEN: 45.25 )
Ranked among companies with meaningful Forward Rate of Return (Yacktman) % only.
LEN' s Forward Rate of Return (Yacktman) % Range Over the Past 10 Years
Min: -4.7  Med: 11.15 Max: 47.2
Current: 45.25
-4.7
47.2

More Statistics

Revenue (TTM) (Mil) $11,294
EPS (TTM) $ 3.86
Beta1.44
Short Percentage of Float5.42%
52-Week Range $39.68 - 53.79
Shares Outstanding (Mil)234.46

Analyst Estimate

Nov17 Nov18
Revenue (Mil $) 12,382 13,762
EPS ($) 4.21 4.59
EPS without NRI ($) 4.21 4.59
EPS Growth Rate
(Future 3Y To 5Y Estimate)
13.52%
Dividends per Share ($) 0.16 0.16
» More Articles for LEN

Headlines

Articles On GuruFocus.com
Third Avenue Management Comments on Lennar Feb 01 2017 
Calendar 4th Quarter Shareholder Letter From Marty Whitman's Third Avenue Value Fund Feb 01 2017 
Third Avenue Real Estate Value Fund 4th Quarter Commentary Jan 19 2017 
Martin Whitman Invests in Homebuilder in 4th Quarter Jan 09 2017 
Third Avenue Value Fund Buys 2 Stocks and Adds to 2 Positions in Q4 Dec 23 2016 
Third Avenue Comments on Lennar Dec 13 2016 
Ken Heebner Cuts Lennar, Buys Western Digital, Micron Nov 17 2016 
Seven New Stocks in My Purloined Portfolio Oct 19 2016 
6 Stocks Trading Below the Peter Lynch Value Oct 10 2016 
Ken Heebner's CGM Mutual Fund 2nd Quarter Report Aug 17 2016 

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U.S. housing starts take a breather; single-family permits rise Sep 20 2016
U.S. housing starts take a breather; single-family permits rise Sep 20 2016
Lennar Reports Third Quarter EPS of $1.01 Sep 20 2016
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