Lennar Corporation (LEN-B) - Net Assets
Based on the latest financial reports, Lennar Corporation (LEN-B) has net assets worth $22.03 Billion USD as of February 2026. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($33.21 Billion) and total liabilities ($11.18 Billion). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off. Check tangible equity quality of Lennar Corporation to evaluate the tangible quality of the company's equity base.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | $22.03 Billion |
| % of Total Assets | 66.34% |
| Annual Growth Rate | 13.45% |
| 5-Year Change | 5.45% |
| 10-Year Change | 207.02% |
| Growth Volatility | 23.07 |
Lennar Corporation - Net Assets Trend (1985–2025)
This chart illustrates how Lennar Corporation's net assets have evolved over time, based on quarterly financial data. See LEN-B cash and liquid assets coverage to measure how many days the company can operate on defensive assets alone.
Annual Net Assets for Lennar Corporation (1985–2025)
The table below shows the annual net assets of Lennar Corporation from 1985 to 2025. For live valuation and market cap data, see Lennar Corporation (LEN-B) market capitalisation.
| Year | Net Assets | Change |
|---|---|---|
| 2025-11-30 | $22.14 Billion | -20.99% |
| 2024-11-30 | $28.02 Billion | +4.94% |
| 2023-11-30 | $26.70 Billion | +10.15% |
| 2022-11-30 | $24.24 Billion | +15.45% |
| 2021-11-30 | $21.00 Billion | +16.01% |
| 2020-11-30 | $18.10 Billion | +12.88% |
| 2019-11-30 | $16.03 Billion | +9.20% |
| 2018-11-30 | $14.68 Billion | +83.86% |
| 2017-11-30 | $7.99 Billion | +10.74% |
| 2016-11-30 | $7.21 Billion | +21.20% |
| 2015-11-30 | $5.95 Billion | +13.31% |
| 2014-11-30 | $5.25 Billion | +13.48% |
| 2013-11-30 | $4.63 Billion | +15.65% |
| 2012-11-30 | $4.00 Billion | +21.12% |
| 2011-11-30 | $3.30 Billion | +3.42% |
| 2010-11-30 | $3.19 Billion | +23.43% |
| 2009-11-30 | $2.59 Billion | -7.20% |
| 2008-11-30 | $2.79 Billion | -27.58% |
| 2007-11-30 | $3.85 Billion | -33.11% |
| 2006-11-30 | $5.76 Billion | +42.04% |
| 2005-11-30 | $4.05 Billion | 0.00% |
| 2004-11-30 | $4.05 Billion | +24.18% |
| 2003-11-30 | $3.26 Billion | +46.41% |
| 2002-11-30 | $2.23 Billion | +34.35% |
| 2001-11-30 | $1.66 Billion | +35.06% |
| 2000-11-30 | $1.23 Billion | +39.37% |
| 1999-11-30 | $881.50 Million | +23.17% |
| 1998-11-30 | $715.70 Million | +63.03% |
| 1997-11-30 | $439.00 Million | -36.88% |
| 1996-11-30 | $695.50 Million | +14.43% |
| 1995-11-30 | $607.80 Million | +13.80% |
| 1994-11-30 | $534.10 Million | +14.27% |
| 1993-11-30 | $467.40 Million | +46.38% |
| 1992-11-30 | $319.30 Million | +9.65% |
| 1991-11-30 | $291.20 Million | +7.97% |
| 1990-11-30 | $269.70 Million | +4.09% |
| 1989-11-30 | $259.10 Million | +11.73% |
| 1988-11-30 | $231.90 Million | +12.96% |
| 1987-11-30 | $205.30 Million | +36.23% |
| 1986-11-30 | $150.70 Million | +6.05% |
| 1985-11-30 | $142.10 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to Lennar Corporation's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have grown by 21260.7% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (November 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | $22.47 Billion | 102.33% |
| Common Stock | $29.82 Million | 0.14% |
| Other Comprehensive Income | $6.01 Million | 0.03% |
| Total Equity | $21.96 Billion | 100.00% |
Lennar Corporation Competitors by Market Cap
The table below lists competitors of Lennar Corporation ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Henan Huanghe Whirlwind Co Ltd
SHG:600172
|
$2.72 Billion |
|
ChronoScale Corporation
NASDAQ:CHRN
|
$2.72 Billion |
|
Atlanta Braves Holdings, Inc. Series C Common Stock
NASDAQ:BATRK
|
$2.72 Billion |
|
First Advantage Corp
NASDAQ:FA
|
$2.72 Billion |
|
Guangxi Guitang Group Co Ltd
SHE:000833
|
$2.72 Billion |
|
Trinity Industries Inc
NYSE:TRN
|
$2.72 Billion |
|
PUMA SE
XETRA:PUM
|
$2.72 Billion |
|
Fastly, Inc. Class A Common Stock
NASDAQ:FSLY
|
$2.72 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Lennar Corporation's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 27,870,135,000 to 21,959,417,000, a change of -5,910,718,000 (-21.2%).
- Net income of 2,078,179,000 contributed positively to equity growth.
- Dividend payments of 520,959,000 reduced retained earnings.
- Share repurchases of 1,808,369,000 reduced equity.
- Other comprehensive income decreased equity by 1,518,000.
- Other factors decreased equity by 5,658,051,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $2.08 Billion | +9.46% |
| Dividends Paid | $520.96 Million | -2.37% |
| Share Repurchases | $1.81 Billion | -8.24% |
| Other Comprehensive Income | $-1.52 Million | -0.01% |
| Other Changes | $-5.66 Billion | -25.77% |
| Total Change | $- | -21.21% |
Book Value vs Market Value Analysis
This analysis compares Lennar Corporation's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 1.03x
- The company is trading above its book value, indicating the market recognizes value beyond its reported assets.
- The price-to-book ratio has decreased from 34.24x to 1.03x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 1985-11-30 | $2.56 | $87.66 | x |
| 1986-11-30 | $2.84 | $87.66 | x |
| 1987-11-30 | $3.63 | $87.66 | x |
| 1988-11-30 | $3.83 | $87.66 | x |
| 1989-11-30 | $4.23 | $87.66 | x |
| 1990-11-30 | $4.34 | $87.66 | x |
| 1991-11-30 | $4.74 | $87.66 | x |
| 1992-11-30 | $5.11 | $87.66 | x |
| 1993-11-30 | $6.59 | $87.66 | x |
| 1994-11-30 | $7.26 | $87.66 | x |
| 1995-11-30 | $8.25 | $87.66 | x |
| 1996-11-30 | $9.41 | $87.66 | x |
| 1997-11-30 | $5.69 | $87.66 | x |
| 1998-11-30 | $6.06 | $87.66 | x |
| 1999-11-30 | $6.23 | $87.66 | x |
| 2000-11-30 | $8.70 | $87.66 | x |
| 2001-11-30 | $10.63 | $87.66 | x |
| 2002-11-30 | $14.07 | $87.66 | x |
| 2003-11-30 | $19.80 | $87.66 | x |
| 2004-11-30 | $23.95 | $87.66 | x |
| 2005-11-30 | $23.95 | $87.66 | x |
| 2006-11-30 | $34.73 | $87.66 | x |
| 2007-11-30 | $23.76 | $87.66 | x |
| 2008-11-30 | $16.24 | $87.66 | x |
| 2009-11-30 | $14.05 | $87.66 | x |
| 2010-11-30 | $13.54 | $87.66 | x |
| 2011-11-30 | $13.54 | $87.66 | x |
| 2012-11-30 | $15.31 | $87.66 | x |
| 2013-11-30 | $18.09 | $87.66 | x |
| 2014-11-30 | $20.73 | $87.66 | x |
| 2015-11-30 | $23.99 | $87.66 | x |
| 2016-11-30 | $29.86 | $87.66 | x |
| 2017-11-30 | $33.19 | $87.66 | x |
| 2018-11-30 | $47.26 | $87.66 | x |
| 2019-11-30 | $50.09 | $87.66 | x |
| 2020-11-30 | $58.16 | $87.66 | x |
| 2021-11-30 | $67.89 | $87.66 | x |
| 2022-11-30 | $83.16 | $87.66 | x |
| 2023-11-30 | $93.82 | $87.66 | x |
| 2024-11-30 | $102.46 | $87.66 | x |
| 2025-11-30 | $85.20 | $87.66 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Lennar Corporation utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 9.46%
- The company has moderate efficiency in generating returns from equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 6.08%
- • Asset Turnover: 0.99x
- • Equity Multiplier: 1.57x
- Recent ROE (9.46%) is below the historical average (10.30%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 1985 | 8.23% | 5.04% | 0.69x | 2.35x | $-2.51 Million |
| 1986 | 8.29% | 5.62% | 0.67x | 2.20x | $-2.57 Million |
| 1987 | 11.20% | 6.94% | 0.62x | 2.62x | $2.47 Million |
| 1988 | 11.90% | 7.25% | 0.75x | 2.20x | $4.41 Million |
| 1989 | 10.85% | 6.38% | 0.51x | 3.35x | $2.19 Million |
| 1990 | 5.08% | 3.90% | 0.42x | 3.10x | $-13.27 Million |
| 1991 | 7.25% | 6.48% | 0.38x | 2.96x | $-8.02 Million |
| 1992 | 9.11% | 6.78% | 0.44x | 3.07x | $-2.83 Million |
| 1993 | 11.23% | 7.87% | 0.56x | 2.56x | $5.76 Million |
| 1994 | 12.96% | 8.46% | 0.63x | 2.42x | $15.79 Million |
| 1995 | 11.58% | 8.09% | 0.60x | 2.37x | $9.62 Million |
| 1996 | 12.65% | 7.45% | 0.67x | 2.54x | $18.45 Million |
| 1997 | 19.23% | 6.48% | 0.97x | 3.06x | $40.50 Million |
| 1998 | 20.13% | 5.96% | 1.26x | 2.68x | $72.53 Million |
| 1999 | 19.59% | 5.54% | 1.52x | 2.33x | $84.55 Million |
| 2000 | 18.65% | 4.87% | 1.25x | 3.08x | $106.28 Million |
| 2001 | 25.18% | 6.99% | 1.27x | 2.84x | $251.92 Million |
| 2002 | 24.45% | 7.53% | 1.26x | 2.58x | $322.21 Million |
| 2003 | 23.02% | 8.44% | 1.31x | 2.08x | $425.01 Million |
| 2004 | 23.33% | 9.01% | 1.15x | 2.26x | $540.32 Million |
| 2005 | 23.33% | 9.00% | 1.15x | 2.26x | $540.32 Million |
| 2006 | 10.42% | 3.65% | 1.31x | 2.18x | $23.73 Million |
| 2007 | -50.79% | -19.05% | 1.12x | 2.38x | $-2.32 Billion |
| 2008 | -42.28% | -24.24% | 0.62x | 2.83x | $-1.37 Billion |
| 2009 | -17.07% | -13.37% | 0.43x | 2.99x | $-661.49 Million |
| 2010 | 3.65% | 3.10% | 0.35x | 3.37x | $-165.63 Million |
| 2011 | 3.42% | 2.98% | 0.34x | 3.40x | $-177.45 Million |
| 2012 | 19.89% | 16.54% | 0.40x | 3.03x | $337.65 Million |
| 2013 | 11.51% | 8.08% | 0.53x | 2.70x | $62.78 Million |
| 2014 | 13.24% | 8.21% | 0.60x | 2.68x | $156.21 Million |
| 2015 | 14.21% | 8.47% | 0.66x | 2.55x | $238.00 Million |
| 2016 | 12.98% | 8.33% | 0.71x | 2.19x | $209.24 Million |
| 2017 | 10.30% | 6.41% | 0.67x | 2.38x | $23.25 Million |
| 2018 | 11.63% | 8.24% | 0.72x | 1.96x | $237.68 Million |
| 2019 | 11.59% | 8.31% | 0.76x | 1.84x | $254.10 Million |
| 2020 | 13.70% | 10.96% | 0.75x | 1.66x | $665.55 Million |
| 2021 | 21.28% | 16.33% | 0.82x | 1.60x | $2.35 Billion |
| 2022 | 19.15% | 13.70% | 0.89x | 1.58x | $2.20 Billion |
| 2023 | 14.82% | 11.50% | 0.87x | 1.48x | $1.28 Billion |
| 2024 | 14.11% | 11.10% | 0.86x | 1.48x | $1.15 Billion |
| 2025 | 9.46% | 6.08% | 0.99x | 1.57x | $-117.76 Million |
Industry Comparison
This section compares Lennar Corporation's net assets metrics with peer companies in the Residential Construction industry.
Industry Context
- Industry: Residential Construction
- Average net assets among peers: $1,371,195,500
- Average return on equity (ROE) among peers: 16.81%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Lennar Corporation (LEN-B) | $22.03 Billion | 8.23% | 0.51x | $2.72 Billion |
| Beazer Homes USA Inc (BZH) | $724.88 Million | 16.83% | 1.87x | $739.11 Million |
| Cavco Industries Inc (CVCO) | $92.35 Million | -4.92% | 0.20x | $4.60 Billion |
| Dream Finders Homes Inc (DFH) | $1.60 Billion | 13.54% | 1.32x | $505.79 Million |
| DR Horton Inc (DHI) | $7.75 Billion | 13.40% | 0.57x | $45.41 Billion |
| Green Brick Partners Inc (GRBK) | $662.95 Million | 17.15% | 0.49x | $3.08 Billion |
| Hovnanian Enterprises Inc (HOV) | $800.35 Million | 30.24% | 2.26x | $613.88 Million |
| Installed Building Products Inc (IBP) | $182.50 Million | 30.00% | 3.57x | $5.39 Billion |
| KB Home (KBH) | $231.90 Million | 20.70% | 1.60x | $3.40 Billion |
| Legacy Housing Corp (LEGH) | $436.74 Million | 12.47% | 0.16x | $566.72 Million |
| Lennar Corporation (LEN) | $1.23 Billion | 18.65% | 2.08x | $19.37 Billion |
About Lennar Corporation
Lennar Corporation, together with its subsidiaries, operates as a homebuilder primarily under the Lennar brand in the United States. It operates through Homebuilding East, Homebuilding Central, Homebuilding South Central, Homebuilding West, Financial Services, Multifamily, and Lennar Other segments. The company's homebuilding operations include the construction and sale of single-family attached … Read more