Lennar Corporation (LEN) quarterly income statement — complete revenue, gross profit & net income history
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 | Q3'21 | Q2'21 |
|---|
| Sales/Revenue | 6.62B | 9.37B | 8.81B | 8.38B | 7.63B | 9.95B | 9.42B | 8.77B | 7.31B | 10.97B | 8.73B | 8.05B | 6.49B | 10.17B | 8.93B | 8.36B | 6.2B | 8.43B | 6.94B | 6.43B |
| Revenue Growth % | -13.26% | -5.82% | -6.43% | -4.43% | 4.36% | -9.31% | 7.86% | 8.96% | 12.67% | 7.8% | -2.29% | -3.75% | 4.63% | 20.64% | 28.71% | 29.99% | 16.49% | 23.55% | 18.25% | 21.62% |
| Cost of Goods Sold | 6.23B | 8.54B | 7.92B | 7.57B | 6.77B | 8.39B | 7.94B | 7.37B | 6.24B | 8.23B | 7.13B | 6.71B | 5.53B | 8.23B | 6.86B | 6.38B | 5B | 6.56B | 5.5B | 5.18B |
| COGS % of Revenue | 94.1% | 91.15% | 89.87% | 90.4% | 88.72% | 84.36% | 84.36% | 84.08% | 85.3% | 75.07% | 81.63% | 83.41% | 85.27% | 80.87% | 76.77% | 76.38% | 80.55% | 77.75% | 79.29% | 80.58% |
| Gross Profit | 390.7M | 829.05M | 892.6M | 804.43M | 861.05M | 1.56B | 1.47B | 1.4B | 1.08B | 2.73B | 1.6B | 1.33B | 956.04M | 1.95B | 2.08B | 1.97B | 1.21B | 1.88B | 1.44B | 1.25B |
| Gross Margin % | 5.9% | 8.85% | 10.13% | 9.6% | 11.28% | 15.64% | 15.64% | 15.92% | 14.7% | 24.93% | 18.37% | 16.59% | 14.73% | 19.13% | 23.23% | 23.62% | 19.45% | 22.25% | 20.71% | 19.42% |
| Gross Profit Growth % | -54.63% | -46.72% | -39.37% | -42.35% | -19.92% | -43.1% | -8.18% | 4.55% | 12.47% | 40.52% | -22.75% | -32.39% | -20.76% | 3.72% | 44.37% | 58.09% | 23.87% | 51.04% | 47.56% | 68.44% |
| Operating Expenses | 157.64M | 162.09M | 171.4M | 155.85M | 147.38M | 170.01M | 164.67M | 156.98M | 157.32M | 824.11M | 114.14M | 124.75M | 126.11M | 80.07M | 115.56M | 105.21M | 113.66M | 102.19M | 94.94M | 90.72M |
| OpEx % of Revenue | 2.38% | 1.73% | 1.95% | 1.86% | 1.93% | 1.71% | 1.75% | 1.79% | 2.15% | 7.51% | 1.31% | 1.55% | 1.94% | 0.79% | 1.29% | 1.26% | 1.83% | 1.21% | 1.37% | 1.41% |
| Selling, General & Admin | 157.64M | 162.09M | 171.4M | 155.85M | 147.38M | 170.01M | 164.67M | 156.98M | 157.32M | 824.11M | 114.14M | 124.75M | 126.11M | 80.07M | 115.56M | 105.21M | 113.66M | 102.19M | 94.94M | 90.72M |
| SG&A % of Revenue | 2.38% | 1.73% | 1.95% | 1.86% | 1.93% | 1.71% | 1.75% | 1.79% | 2.15% | 7.51% | 1.31% | 1.55% | 1.94% | 0.79% | 1.29% | 1.26% | 1.83% | 1.21% | 1.37% | 1.41% |
| Research & Development | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| R&D % of Revenue | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Operating Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Operating Income | 233.06M | 666.96M | 721.2M | 648.58M | 713.67M | 1.39B | 1.31B | 1.24B | 917.89M | 1.91B | 1.49B | 1.21B | 829.93M | 1.87B | 1.96B | 1.87B | 1.09B | 1.77B | 1.34B | 1.16B |
| Operating Margin % | 3.52% | 7.12% | 8.19% | 7.74% | 9.35% | 13.94% | 13.89% | 14.13% | 12.55% | 17.42% | 17.06% | 15.04% | 12.79% | 18.34% | 21.94% | 22.36% | 17.62% | 21.04% | 19.34% | 18.01% |
| Operating Income Growth % | -67.34% | -51.88% | -44.84% | -47.63% | -22.25% | -27.45% | -12.2% | 2.35% | 10.6% | 2.38% | -24.02% | -35.25% | -24.06% | 5.18% | 45.98% | 61.39% | 26.57% | 52.46% | 51.16% | 74.62% |
| EBITDA | 266.45M | 701.94M | 755.37M | 682.4M | 745M | 1.42B | 1.34B | 1.27B | 945.03M | 1.94B | 1.53B | 1.23B | 850.24M | 1.9B | 1.98B | 1.89B | 1.11B | 1.79B | 1.36B | 1.18B |
| EBITDA Margin % | 4.03% | 7.49% | 8.57% | 8.15% | 9.76% | 14.24% | 14.2% | 14.45% | 12.92% | 17.68% | 17.49% | 15.33% | 13.1% | 18.63% | 22.14% | 22.59% | 17.94% | 21.28% | 19.65% | 18.36% |
| EBITDA Growth % | -64.23% | -50.45% | -43.5% | -46.14% | -21.17% | -26.97% | -12.41% | 2.7% | 11.15% | 2.34% | -22.85% | -34.66% | -23.61% | 5.62% | 45.07% | 59.97% | 25.65% | 50.85% | 49.44% | 71.77% |
| D&A (Non-Cash Add-back) | 33.39M | 34.98M | 34.17M | 33.83M | 31.33M | 30.41M | 29.37M | 28.61M | 27.14M | 29.02M | 37.11M | 23.73M | 20.3M | 29.15M | 18.4M | 19.43M | 20.09M | 20.11M | 21.1M | 22.42M |
| EBIT | 302.45M | 683.04M | 790.7M | 641.88M | 698.24M | 1.46B | 1.54B | 1.26B | 930.79M | 1.96B | 1.48B | 1.16B | 784.45M | 1.76B | 1.82B | 1.75B | 676.74M | 1.58B | 1.81B | 1.15B |
| Net Interest Income | 0 | 0 | 0 | 0 | 0 | -4.47M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Expense | 0 | 0 | 0 | 0 | 0 | 4.47M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Income/Expense | 69.39M | 16.08M | 69.5M | -6.7M | -15.44M | 71.83M | 227.56M | 22.66M | 12.89M | -126.46M | -14.11M | -51.29M | -45.48M | -107.34M | -135.69M | -113.88M | -416.17M | -193.39M | 471.7M | -61.04M |
| Pretax Income | 302.45M | 683.04M | 790.7M | 641.88M | 698.24M | 1.46B | 1.54B | 1.26B | 930.79M | 1.78B | 1.48B | 1.16B | 784.45M | 1.76B | 1.82B | 1.75B | 676.74M | 1.58B | 1.81B | 1.1B |
| Pretax Margin % | 4.57% | 7.29% | 8.97% | 7.66% | 9.15% | 14.66% | 16.3% | 14.39% | 12.73% | 16.27% | 16.9% | 14.4% | 12.09% | 17.29% | 20.42% | 20.99% | 10.91% | 18.74% | 26.14% | 17.06% |
| Income Tax | 69.09M | 185.09M | 190.89M | 160.06M | 169.53M | 358.06M | 347.86M | 300.47M | 210.87M | 416.78M | 358.21M | 280.88M | 185.15M | 414.79M | 351.58M | 432.28M | 167.42M | 387.15M | 405.14M | 260.11M |
| Effective Tax Rate % | 22.84% | 27.1% | 24.14% | 24.94% | 24.28% | 24.56% | 22.66% | 23.83% | 22.65% | 23.36% | 24.28% | 24.24% | 23.6% | 23.58% | 19.27% | 24.63% | 24.74% | 24.49% | 22.33% | 23.71% |
| Net Income | 229.38M | 490.24M | 590.97M | 477.45M | 519.53M | 1.1B | 1.16B | 954.31M | 719.33M | 1.36B | 1.11B | 871.69M | 596.53M | 1.32B | 1.47B | 1.32B | 503.58M | 1.19B | 1.41B | 831.36M |
| Net Margin % | 3.47% | 5.23% | 6.71% | 5.7% | 6.81% | 11.02% | 12.35% | 10.89% | 9.84% | 12.41% | 12.7% | 10.84% | 9.19% | 13% | 16.42% | 15.8% | 8.12% | 14.12% | 20.27% | 12.93% |
| Net Income Growth % | -55.85% | -55.28% | -49.17% | -49.97% | -27.78% | -19.47% | 4.84% | 9.48% | 20.59% | 2.94% | -24.42% | -34% | 18.46% | 11.08% | 4.3% | 58.87% | -49.71% | 34.86% | 111.11% | 60.68% |
| Net Income (Continuing) | 233.36M | 497.96M | 599.81M | 481.82M | 528.71M | 1.1B | 1.19B | 960.59M | 719.92M | 1.37B | 1.12B | 877.74M | 599.31M | 1.34B | 1.47B | 1.32B | 509.31M | 1.19B | 1.41B | 836.77M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 152.89M | 181.19M | 181.24M | 152.8M | 139.31M | 151.09M | 145.19M | 137.88M | 130.09M | 121.3M | 131.92M | 145.97M | 137.03M | 139.87M | 150.26M | 191.52M | 168.37M | 179.86M | 129.35M | 125.99M |
| EPS (Diluted) | 0.94 | 1.93 | 2.29 | 1.81 | 1.96 | 4.06 | 4.26 | 3.45 | 2.57 | 4.82 | 3.87 | 3.01 | 2.06 | 4.55 | 5.03 | 4.49 | 1.69 | 3.91 | 4.52 | 2.65 |
| EPS Growth % | -52.04% | -52.46% | -46.24% | -47.54% | -23.74% | -15.77% | 10.08% | 14.62% | 24.76% | 5.93% | -23.06% | -32.96% | 21.89% | 16.37% | 11.28% | 69.43% | -47.19% | 38.65% | 113.21% | 60.61% |
| EPS (Basic) | 0.94 | 1.93 | 2.29 | 1.81 | 1.96 | 4.06 | 4.26 | 3.45 | 2.57 | 4.82 | 3.87 | 3.01 | 2.06 | 4.56 | 5.04 | 4.50 | 1.70 | 3.91 | 4.52 | 2.66 |
| Diluted Shares Outstanding | 244.44M | 252.36M | 255.6M | 261.51M | 262.73M | 267.26M | 270.16M | 273.7M | 276.95M | 279.44M | 282.85M | 284.91M | 286.07M | 287.36M | 288.11M | 289.89M | 293.93M | 301.24M | 307.3M | 308.89M |
| Basic Shares Outstanding | 244.44M | 252.36M | 255.6M | 261.51M | 262.73M | 267.26M | 270.16M | 273.7M | 276.95M | 279.44M | 282.85M | 284.91M | 286.07M | 287.36M | 288.11M | 289.89M | 293.93M | 301.24M | 307.3M | 308.89M |
| Dividend Payout Ratio | 53.83% | 25.82% | 21.85% | 27.98% | 25.34% | 12.28% | 11.68% | 14.56% | 19.38% | 7.73% | 9.66% | 12.66% | 18.09% | 8.19% | 7.41% | 8.39% | 21.87% | 6.37% | 5.52% | 9.44% |