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Lennar (Lennar) EBIT : $5,528 Mil (TTM As of Feb. 2024)


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What is Lennar EBIT?

Lennar's earnings before interest and taxes (EBIT) for the three months ended in Feb. 2024 was $918 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Feb. 2024 was $5,528 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Lennar's annualized ROC % for the quarter that ended in Feb. 2024 was 8.98%. Lennar's annualized ROC (Joel Greenblatt) % for the quarter that ended in Feb. 2024 was 16.92%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. Lennar's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Feb. 2024 was 13.14%.


Lennar EBIT Historical Data

The historical data trend for Lennar's EBIT can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Lennar EBIT Chart

Lennar Annual Data
Trend Nov14 Nov15 Nov16 Nov17 Nov18 Nov19 Nov20 Nov21 Nov22 Nov23
EBIT
Get a 7-Day Free Trial Premium Member Only Premium Member Only 2,481.11 3,140.66 5,138.26 6,787.65 5,439.65

Lennar Quarterly Data
May19 Aug19 Nov19 Feb20 May20 Aug20 Nov20 Feb21 May21 Aug21 Nov21 Feb22 May22 Aug22 Nov22 Feb23 May23 Aug23 Nov23 Feb24
EBIT Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 829.93 1,209.91 1,489.27 1,910.53 917.89

Competitive Comparison of Lennar's EBIT

For the Residential Construction subindustry, Lennar's EV-to-EBIT, along with its competitors' market caps and EV-to-EBIT data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Lennar's EV-to-EBIT Distribution in the Homebuilding & Construction Industry

For the Homebuilding & Construction industry and Consumer Cyclical sector, Lennar's EV-to-EBIT distribution charts can be found below:

* The bar in red indicates where Lennar's EV-to-EBIT falls into.



Lennar EBIT Calculation

EBIT, sometimes also called Earnings Before Interest and Taxes, is a measure of a firm's profit that includes all expenses except interest and income tax expenses. It is the difference between operating revenues and operating expenses. When a firm does not have non-operating income, then Operating Income is sometimes used as a synonym for EBIT and operating profit.

EBIT for the trailing twelve months (TTM) ended in Feb. 2024 adds up the quarterly data reported by the company within the most recent 12 months, which was $5,528 Mil.

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.


Lennar  (NYSE:LEN) EBIT Explanation

1. EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition.

Lennar's annualized ROC % for the quarter that ended in Feb. 2024 is calculated as:

ROC % (Q: Feb. 2024 )
=NOPAT/Average Invested Capital
=Operating Income * ( 1 - Tax Rate % )/( (Invested Capital (Q: Nov. 2023 ) + Invested Capital (Q: Feb. 2024 ))/ count )
=3671.576 * ( 1 - 22.65% )/( (31090.452 + 32133.655)/ 2 )
=2839.964036/31612.0535
=8.98 %

where

Invested Capital(Q: Nov. 2023 )
=Total Assets - Accounts Payable & Accrued Expense - Excess Cash
=Total Assets - Accounts Payable & Accrued Expense - ( Cash, Cash Equivalents, Marketable Securities - max(0, Total Current Liabilities - Total Current Assets+Cash, Cash Equivalents, Marketable Securities))
=39234.303 - 1631.401 - ( 6512.45 - max(0, 1631.401 - 31379.255+6512.45))
=31090.452

Invested Capital(Q: Feb. 2024 )
=Total Assets - Accounts Payable & Accrued Expense - Excess Cash
=Total Assets - Accounts Payable & Accrued Expense - ( Cash, Cash Equivalents, Marketable Securities - max(0, Total Current Liabilities - Total Current Assets+Cash, Cash Equivalents, Marketable Securities))
=38951.199 - 1565.464 - ( 5252.08 - max(0, 1565.464 - 31011.456+5252.08))
=32133.655

Note: The Operating Income data used here is four times the quarterly (Feb. 2024) data.

2. Joel Greenblatt's definition of Return on Capital:

Lennar's annualized ROC (Joel Greenblatt) % for the quarter that ended in Feb. 2024 is calculated as:

ROC (Joel Greenblatt) %(Q: Feb. 2024 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Nov. 2023  Q: Feb. 2024
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=3671.576/( ( (404.789 + max(20845.432, 0)) + (0 + max(22150.352, 0)) )/ 2 )
=3671.576/( ( 21250.221 + 22150.352 )/ 2 )
=3671.576/21700.2865
=16.92 %

where Working Capital is:

Working Capital(Q: Nov. 2023 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(1448.505 + 18897.67 + 2130.658) - (1631.401 + 0 + 0)
=20845.432

Working Capital(Q: Feb. 2024 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(1284.692 + 19942.759 + 2488.365) - (1565.464 + 0 + 0)
=22150.352

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Feb. 2024) EBIT data.

3. It is also linked to Joel Greenblatt's definition of Earnings Yield:

Lennar's Earnings Yield (Joel Greenblatt) % for today is calculated as:

Earnings Yield (Joel Greenblatt) %=EBIT (TTM)/Enterprise Value (Q: Feb. 2024 )
=5527.607/42056.636
=13.14 %

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.


Lennar EBIT Related Terms

Thank you for viewing the detailed overview of Lennar's EBIT provided by GuruFocus.com. Please click on the following links to see related term pages.


Lennar (Lennar) Business Description

Address
5505 Blue Lagoon Drive, Miami, FL, USA, 33126
Based on the number of delivered homes, Lennar is the second-largest public homebuilder in the United States, behind D.R. Horton. 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 construction and has invested in numerous housing-related technology startups.
Executives
Amy Banse director 345 PARK AVENUE, SAN JOSE CA 95110
Dacona Smith director 5505 BLUE LAGOON DRIVE, MIAMI FL 33126
Serena Wolfe director ANNALY CAPITAL MANAGEMENT, INC., 1211 AVE. OF THE AMERICAS, NEW YORK NY 10036
Jeffrey Joseph Mccall officer: Senior Vice President 26 TECHNOLOGY DRIVE, IRVINE CA 92618
Diane J Bessette officer: Vice President and Controller LENNAR CORPORATION, 700 NW 107 AVE 4TH FLR, MIAMI FL 33172
David M Collins officer: Controller LENNAR CORPORATION, 700 NW 107 AVENUE STE 400, MIAMI FL 33172
Mark Sustana officer: General Counsel and Secretary LENNAR CORPORATION, 700 NW 107 AVE 4TH FLR, MIAMI FL 33172
Jonathan M Jaffe director, officer: Vice President LENNAR CORPORATION, 700 NW 107 AVE 4TH FLR, MIAMI FL 33172
Scott D Stowell director
Irving Bolotin director LENNAR CORPORATION, 700 NW 107 AVE 4TH FLR, MIAMI FL 33172
Armando J Olivera director C/O FLUOR CORPORATION, 6700 LAS COLINAS BLVD, IRVING TX 75039
Steven L Gerard director P.O. BOX 554, MILWAUKEE WI 53201-0554
Sherrill W Hudson director 201 SOUTH BISCAYNE BOULEVARD, 34TH FLOOR, MIAMI CENTER, MIAMI FL 33131
Jeffrey Sonnenfeld director 14 WALL ST 13TH FL, NEW YORK NY 10005
Theron I Gilliam director GMS INC., 100 CRESCENT CENTRE PARKWAY, SUITE 800, TUCKER GA 30084

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