Lennar Corp. /NEW/ (LEN) intrinsic value & 10-year financials
Lennar Corp. /NEW/ (LEN) has a Graham intrinsic value of $475.32 per share. At $77.08 on Oct 17, 2026, the stock trades 84% below that value. Over the last 10 fiscal years revenue grew 13.5% a year to $34.2B, with an average return on invested capital of 14.5%.
- Graham intrinsic value
- $475.32
- Share price (Oct 17, 2026)
- $77.08
- Price vs Graham value
- 84% below
- Market cap
- $11.2B
- Revenue (FY2025)
- $34.2B
- Revenue growth (10-yr CAGR)
- 13.5%
- ROIC (10-yr avg)
- 14.5%
- Free cash flow (FY2025)
- $28.2M
LEN 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $34.2B | $2.1B | — | $28.2M | — | 8.1% |
| FY2024 | $35.4B | $3.9B | $14.31 | $2.2B | — | 14.5% |
| FY2023 | $34.2B | $3.9B | $13.73 | $5.1B | — | 15.5% |
| FY2022 | $33.7B | $4.6B | $15.72 | $3.2B | — | 20.5% |
| FY2021 | $27.1B | $4.4B | $14.27 | $2.5B | — | 19.6% |
| FY2020 | $22.5B | $2.5B | $7.85 | $4.1B | 15.5% | 11.8% |
| FY2019 | $22.3B | $1.8B | $5.74 | $1.4B | 12.5% | 8.7% |
| FY2018 | $20.6B | $1.7B | $5.44 | $1.6B | 12.0% | 16.6% |
| FY2017 | $12.6B | $810.5M | $3.38 | $885.1M | 11.7% | 13.1% |
| FY2016 | $10.9B | $911.8M | $3.93 | $431.4M | 14.3% | 16.9% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
LENNAR CORP /NEW/ is a consistent compounder, expanding top-line revenue at 13.5% annually over the past decade.
LENNAR CORP /NEW/ returns on capital have been average, hovering around 14.5% ROIC over the decade.
LENNAR CORP /NEW/ capital allocation metrics are N/A for the decade; share count and net debt history are incomplete.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, LENNAR CORP /NEW/ is modeled at 15.0% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $475.32 per share.