Return-on-Tangible-Asset is calculated as Net Income divided by its average total tangible assets. Total tangible assets equals to Total Assets minus Intangible Assets. Lennar's annualizedNet Income for the quarter that ended in Feb. 2022 was $2,014 Mil. Lennar's average total tangible assets for the quarter that ended in Feb. 2022 was $29,289 Mil. Therefore, Lennar's annualized Return-on-Tangible-Asset for the quarter that ended in Feb. 2022 was 6.88%.
The historical rank and industry rank for Lennar's Return-on-Tangible-Asset or its related term are showing as below:
LEN'
s Return-on-Tangible-Asset Range Over the Past 10 Years
Min: 4.45 Med: 6.56 Max: 15.86
Current: 15.13
During the past 13 years, Lennar's highest Return-on-Tangible-Asset was 15.86%. The lowest was 4.45%. And the median was 6.56%.
LEN's Return-on-Tangible-Asset is ranked better than 87.96% of 108
companies
in the Homebuilding & Construction industry
Industry Median: 5.67
vs LEN: 15.13
Lennar Return-on-Tangible-Asset Historical Data
The historical data trend for Lennar's Return-on-Tangible-Asset 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
Return-on-Tangible-Asset
4.79
7.81
7.31
9.48
15.86
Lennar Quarterly Data
Aug17
Nov17
Feb18
May18
Aug18
Nov18
Feb19
May19
Aug19
Nov19
Feb20
May20
Aug20
Nov20
Feb21
May21
Aug21
Nov21
Feb22
May22
Return-on-Tangible-Asset
12.20
19.85
16.23
6.88
17.65
Competitive Comparison
For the Residential Construction subindustry, Lennar's Return-on-Tangible-Asset, along with its competitors' market caps and Return-on-Tangible-Asset 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 Return-on-Tangible-Asset Distribution
For the Homebuilding & Construction industry and Consumer Cyclical sector, Lennar's Return-on-Tangible-Asset distribution charts can be found below:
* The bar in red indicates where Lennar's Return-on-Tangible-Asset falls into.
Lennar Return-on-Tangible-Asset Calculation
Lennar's annualized Return-on-Tangible-Asset for the fiscal year that ended in Nov. 2021 is calculated as:
* 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.
In the calculation of annual Return-on-Tangible-Asset, the net income of the last fiscal year and the average total tangible assets over the fiscal year are used. In calculating the quarterly data,
the Net Income data used here is four times the quarterly (Feb. 2022) net income data.
Return-on-Tangible-Asset measures the rate of return on the average total tangible assets (total assets minus intangible assets). Tangible means physical in nature. Intangible Assets are assets that are not physical in nature, and typically "derive their value from legal or intellectual rights." Return-on-Tangible-Asset measures a firm's efficiency at generating profits from its tangible assets. It shows how well a company uses what it has to generate earnings. Return-on-Tangible-Assets can vary drastically across industries. Therefore, Return-on-Tangible-Asset should not be used to compare companies in different industries.
Be Aware
Like ROE and ROA, Return-on-Tangible-Asset is calculated with only 12 months data. Fluctuations in the companyÂ’s earnings or business cycles can affect the ratio drastically. It is important to look at the ratio from a long term perspective. Return-on-Tangible-Asset can be affected by events such as stock buyback or issuance, and by a companyÂ’s tax rate and its interest payment. Return-on-Tangible-Asset may not reflect the true earning power of the assets. A more accurate measurement is ROC % (ROC).
Many analysts argue the higher return the better. Buffett states that really high Return-on-Tangible-Asset may indicate vulnerability in the durability of the competitive advantage.
Lennar Return-on-Tangible-Asset Related Terms
Thank you for viewing the detailed overview of Lennar's Return-on-Tangible-Asset provided by GuruFocus.com. Please click on the following links to see related term pages.
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.
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