Credit and interest ratesmixed · 5 filings
“This was partially offset by $173 million of net borrowings under our Financial Services' warehouse facilities.”10-Q · Jun 29, 2026 ↗
Lennar Corporation
LEN
Market read
Lennar Corporation's current read is isolated; its market group is not confirming.
No new filing conclusion is available. 0 of 9 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 12 directly disclosed connections are confirming.
Company-3.5% todayVolume comparison unavailable
Market group0 of 9 activeEconomic Cyclicals · unavailable
Disclosed network0 of 8 confirmingNo filing-linked name is confirming now
What would change this read
Watch this read- Average sales price of homes delivered declined 6% year over year, attributed in filings to pricing to market and increased use of sales incentives.
Invalidation: The isolated read changes if LEN's group or a disclosed connection begins moving with it.
Research brief
The story so far
No new filing conclusion is available. 0 of 9 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 12 directly disclosed connections are confirming.
Evidence that supports
No thresholded supportive filing evidence is available yet.
Evidence that challenges
No thresholded adverse filing evidence is available yet.
What would clarify the read
- Average sales price of homes delivered declined 6% year over year, attributed in filings to pricing to market and increased use of sales incentives.
Company research
Understand the business, not just the ticker
Business model and earnings drivers
Use the company’s filings to identify the few operating, demand, cost, capital and regulatory variables that determine its earnings power.
Key research questions
- Which operating variable is changing?
- Is that change durable, cyclical or one-off?
- What evidence would disprove the current interpretation?
Annual periods9
Price observations601
Usable filing statements169
Verified relationships12
Evidence supporting the case
No qualifying supportive evidence was identified.
Evidence challenging the case
- Latest annual revenue changed -3.5% year over year.
- Net margin changed -5.0 percentage points in the latest annual period.
- Operating cash flow was only 0.10x net income in the latest annual period.
Questions before a position
No credible peer-relative valuation comparison is available yet.
Longer-term price context
Price as of Sep 10, 2026
77.916m-19.3%12m-43.3%24m-56.2%
Annual trajectory
Reported annual revenue and per-share history. This is accounting history, not a forecast.
PeriodRevenueYoYDiluted EPSShare change
2021-11-30$27.1B+20.6%—-0.9%
2022-11-30$33.7B+24.1%—-5.5%
2023-11-30$34.2B+1.7%—-2.2%
2024-11-30$35.4B+3.5%—-4.0%
2025-11-30$34.2B-3.5%——
What management says matters
Persistent and emerging business drivers
Restructuring and cost reductionsmixed · 1 filings
“In order to arrive at the Company’s assumed costs to build and deliver homes, the Company generally assumes a cost structure reflecting contracts currently in place with its vendors adjusted for any anticipated cost reduction initiatives or increases in cost…”10-K · Jan 28, 2026 ↗
Valuation discipline
Descriptive valuation snapshot
Price/sales — · EV/sales —. Comparisons use only industry-matched filing peers.
Scenario scaffold
No usable price/earnings or price/sales multiple (need a fresh price).
Price action
How the market is pricing the story
77.91-3.5% today
Jodie does not have enough daily observations to draw a useful short-term chart for this asset. The latest quoted price was checked 10 Sept, 15:55 GMT-4; this is a coverage limitation, not a flat-price conclusion.
Developments
No sourced recent-development timeline yet
Jodie has not returned a relevant primary source or news item for LEN. This is an evidence-coverage gap, not a conclusion that nothing material happened.
Business and financial condition
Reported financial figures are not available yet
Jodie has not returned structured SEC XBRL fundamentals for this asset. This is a coverage limitation, not an assessment of the business or its financial health.
Filing analysis
No comparable filing assessment is available yet
Jodie has not yet found a suitable current-versus-prior filing comparison for LEN. This does not mean the latest filing was neutral or immaterial.
Business ecosystem
The relationships behind LEN
Customers, suppliers, partners and competitors named in company filings—not inferred from headlines.
Depends on
INVHInvitation Homes Inc.partnerJan 28, 2026 ▾
“In April 2024, Upward America entered into a joint venture agreement and property management agreement with Invitation Homes.”
JYNTFiling-linked namepartnerOct 3, 2025 ▾
“Joint ventures with land owners/developers have given us access to homesites owned or controlled by our partners.”
Depended on by
MRP72.0% of MRPcustomerMay 6, 2026 ▾
“For the three months ended March 31, 2026, the Company derived a substantial portion of its revenues from Lennar, which represented $ 140.3 million, or 72 %, of the Company's total revenues, and 76 % of the Company's total option fee revenues.”
Filing peers
Companies whose filings use similar operating language.
Open the three relationships above to see Jodie’s filing proof. Pro unlocks 16 more links, every receipt, and alerts when connected names begin moving. Unlock the full network →
What is moving around it
Live connections
LEN is currently a Early Follower in the organic co-movement group Economic Cyclicals. This group is discovered from market behaviour rather than assigned from an industry taxonomy. 3 filing-linked names are in the relationship map; none is currently confirmed as moving with the group.
This group is retained as the last observed read for LEN; it is not active in the latest market snapshot.
Context history
Theme membership history
No durable theme membership has been observed for this name yet.