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Lennar EBIT

: $5,368 Mil (TTM As of Feb. 2022)
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Lennar's earnings before interest and taxes (EBIT) for the three months ended in Feb. 2022 was $1,093 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Feb. 2022 was $5,368 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. 2022 was 11.22%. Lennar's annualized ROC (Joel Greenblatt) % for the quarter that ended in Feb. 2022 was 21.92%.

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. 2022 was 20.79%.


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 Annual Data
Trend Nov12 Nov13 Nov14 Nov15 Nov16 Nov17 Nov18 Nov19 Nov20 Nov21
EBIT
Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 1,339.00 2,273.94 2,481.11 3,140.66 5,138.26

Lennar Quarterly Data
May17 Aug17 Nov17 Feb18 May18 Aug18 Nov18 Feb19 May19 Aug19 Nov19 Feb20 May20 Aug20 Nov20 Feb21 May21 Aug21 Nov21 Feb22
EBIT 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 Premium Member Only Premium Member Only Premium Member Only 863.49 1,157.92 1,342.65 1,774.19 1,092.90

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. 2022 adds up the quarterly data reported by the company within the most recent 12 months, which was $5,368 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. 2022 is calculated as:

ROC % (Q: Feb. 2022 )
=NOPAT/Average Invested Capital
=Operating Income * ( 1 - Tax Rate % )/( (Invested Capital (Q: Nov. 2021 ) + Invested Capital (Q: Feb. 2022 ))/ count )
=4371.612 * ( 1 - 24.74% )/( (28923.133 + 29707.519)/ 2 )
=3290.0751912/29315.326
=11.22 %

where

Invested Capital(Q: Nov. 2021 )
=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))
=33207.778 - 1321.247 - ( 2963.398 - max(0, 1321.247 - 25144.515+2963.398))
=28923.133

Invested Capital(Q: Feb. 2022 )
=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))
=32635.252 - 1321.148 - ( 1606.585 - max(0, 1321.148 - 24777.699+1606.585))
=29707.519

Note: The Operating Income data used here is four times the quarterly (Feb. 2022) data.

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

Lennar's annualized ROC (Joel Greenblatt) % for the quarter that ended in Feb. 2022 is calculated as:

ROC (Joel Greenblatt) %(Q: Feb. 2022 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Nov. 2021  Q: Feb. 2022
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=4371.612/( ( (339.906 + max(18933.663, 0)) + (0 + max(20617.195, 0)) )/ 2 )
=4371.612/( ( 19273.569 + 20617.195 )/ 2 )
=4371.612/19945.382
=21.92 %

where Working Capital is:

Working Capital(Q: Nov. 2021 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(1051.574 + 19169.397 + 33.938999999998) - (1321.247 + 0 + 0)
=18933.663

Working Capital(Q: Feb. 2022 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(916.385 + 20988.209 + 33.749000000003) - (1321.148 + 0 + 0)
=20617.195

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Feb. 2022) 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. 2022 )
=5367.673/25823.278
=20.79 %

* 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

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Lennar Business Description

Lennar logo
Industry
Address
700 Northwest 107th Avenue, Miami, FL, USA, 33172
After merging with CalAtlantic in February 2018, Lennar has become the largest public homebuilder (by revenue) 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 construction and has invested in numerous housing-related technology startups.
Executives
Bessette Diane J officer: VP/CFO/Treasurer LENNAR CORPORATION 700 NW 107 AVE 4TH FLR MIAMI FL 33172
Collins David M officer: Controller LENNAR CORPORATION 700 NW 107 AVENUE STE 400 MIAMI FL 33172
Jaffe Jonathan M director, officer: President LENNAR CORPORATION 700 NW 107 AVE 4TH FLR MIAMI FL 33172
Mccall Jeffrey Joseph officer: Executive Vice President 26 TECHNOLOGY DRIVE IRVINE CA 92618
Stowell Scott D director PUBLIC "-//W3C//DTD HTML 4.0 Transitional//EN"> Ownership Information: STOWELL SCOTT D a.header:link {color: #3b4fae; font-weight: bold; text-decoration: underline;} a.header:visited {color: #3b4fae; font-weight: bold; text-decoration: underline;} a.header:hover {color: #191970;}
Gerard Steven L director P.O. BOX 554 MILWAUKEE WI 53201-0554
Bolotin Irving director LENNAR CORPORATION 700 NW 107 AVE 4TH FLR MIAMI FL 33172
Sustana Mark officer: VP/General Counsel/Secretary LENNAR CORPORATION 700 NW 107 AVE 4TH FLR MIAMI FL 33172
Beckwitt Richard director, officer: Chief Executive Officer LENNAR CORPORATION 700 NW 107 AVE 4TH FLR MIAMI FL 33172
Olivera Armando J director C/O FLUOR CORPORATION 6700 LAS COLINAS BLVD IRVING TX 75039
Gilliam Theron I director GMS INC. 100 CRESCENT CENTRE PARKWAY, SUITE 800 TUCKER 2Q 30084
Mcclure Teri P director 55 GLENLAKE PARKWAY NE ATLANTA GA 30328
Sonnenfeld Jeffrey director 14 WALL ST 13TH FL NEW YORK NY 10005
Hudson Sherrill W director 201 SOUTH BISCAYNE BOULEVARD 34TH FLOOR, MIAMI CENTER MIAMI FL 33131
Lapidus Sidney director 466 LEXINGTON AVENUE FLOOR NEW YORK NY 10017

Lennar Headlines

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