FinEdge Labs
L

LEN

LENUnverified
12 segments tracked|9 years of data|Annual (10-K)
Total Revenue
$97.5B51.0%
FY2025
Operating Segments
12
Active segments
Blended Margin
4.7%
Operating margin
Highest Margin
143.0%
Homebuilding South Central
Segment Shift

Homebuilding South Central has grown from 0.0% to 0.0% of total revenue since FY2016, with 143.0% operating margins. Meanwhile, Lennar Multifamily is the fastest growing at +65.4% YoY.

Segment Revenue Over Time

Revenue Mix

Segment Breakdown — FY2025

SegmentRevenueOp. IncomeMargin% of TotalYoY
Lennar Homebuilding East Central West Houstonand Other$32.3B$00.0%33.1%-4.8%
Real Estate Other$32.1B$00.0%32.9%+0.0%
Homebuilding West$13.0B$1.9B14.3%13.3%+0.0%
Homebuilding East$8.5B$1.6B18.8%8.7%+0.0%
Homebuilding Central$7.6B$1.1B14.2%7.8%+0.0%
Other Revenue$2.0B$00.0%2.0%+0.0%
Lennar Financial Services$1.2B$00.0%1.2%+8.0%
Lennar Multifamily$681M$00.0%0.7%+65.4%
Land$130M$00.0%0.1%+0.0%
Homebuilding South Central$33M$48M143.0%0.0%+0.0%
Homebuilding Other Regions$27M$00.0%0.0%-19.9%
Lennar Other$14M$-48M-337.2%0.0%+0.0%

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