Lennar (LEN) Cost of Revenue (2013 - 2026)
Lennar's Cost of Revenue came in at $7.43 billion for fiscal Q3 2026 (quarter ended Aug 31, 2026), down 6.2% from $7.92 billion a year earlier but up 4.1% from the prior quarter.
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Analysis
Lennar (LEN) Cost of Revenue (2013 - 2026) Analysis & Trends
Over the trailing twelve months to Aug 31, 2026, Lennar reported Cost of Revenue of $29.07 billion, down 5.8% year-over-year; for FY2025 (ended Nov 30, 2025), it came in at $30.8 billion, up 2.9% from FY2024.
- Cost of Revenue has increased in each of the last five fiscal years, with a five-year compound annual growth rate of 11.4% (FY2020 to FY2025).
- Going back by fiscal year, Cost of Revenue was $29.94 billion in FY2024 (+5.8%), $28.29 billion in FY2023 (+12.4%), $25.16 billion in FY2022 (+22.7%) and $20.5 billion in FY2021 (+14.1%).
- The five-year range for quarterly Cost of Revenue is $4.64 billion (fiscal Q1 2022) to $9.72 billion (fiscal Q4 2023).
- Year-over-year, Cost of Revenue has declined for four consecutive quarters, with an average decline of 1.7% over the last eight quarters.
- The fastest year-over-year change in Cost of Revenue over five years came in fiscal Q4 2022 (growth of 26.7%), and the weakest in fiscal Q1 2026 (a decline of 8.7%).
- Business Quant data shows LEN's Cost of Revenue at $7.13 billion (Q2 2026), $5.97 billion (Q1 2026) and $8.54 billion (Q4 2025) in the three fiscal quarters before Q3 2026.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Cost of Rev (Qtr) |
|---|---|---|---|---|---|
| 1 | Horton D R | 41.40 Bn | 32.29 Bn | 2.15 Bn | 7.08 Bn |
| 2 | Pultegroup | 22.30 Bn | 15.67 Bn | 1.07 Bn | 2.91 Bn |
| 3 | Lennar | 17.65 Bn | 8.17 Bn | 618.54 Mn | 7.43 Bn |
| 4 | Nvr | 15.93 Bn | 9.22 Bn | 485.14 Mn | 1.84 Bn |
| 5 | Toll Brothers | 12.89 Bn | 8.28 Bn | 625.22 Mn | 2.03 Bn |
| 6 | Champion Homes | 4.36 Bn | 1.84 Bn | - | - |
| 7 | Meritage Homes | 4.18 Bn | 1.10 Bn | 513.60 Mn | 2.29 Bn |
| 8 | Cavco Industries | 4.13 Bn | 2.89 Bn | - | - |
| 9 | M | 3.10 Bn | 290.98 Mn | - | - |
| 10 | Kb Home | 2.86 Bn | 2.07 Bn | -857.09 Mn | 2.15 Bn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Aug 31, 2026 | 7.43 Bn |
| May 31, 2026 | 7.13 Bn |
| Feb 28, 2026 | 5.97 Bn |
| Nov 30, 2025 | 8.54 Bn |
| Aug 31, 2025 | 7.92 Bn |
| May 31, 2025 | 7.15 Bn |
| Feb 28, 2025 | 6.54 Bn |
| Nov 30, 2024 | 9.25 Bn |
| Aug 31, 2024 | 7.61 Bn |
| May 31, 2024 | 7.11 Bn |
| Feb 29, 2024 | 5.98 Bn |
| Nov 30, 2023 | 9.72 Bn |
| Aug 31, 2023 | 6.86 Bn |
| May 31, 2023 | 6.44 Bn |
| Feb 28, 2023 | 5.27 Bn |
| Nov 30, 2022 | 7.92 Bn |
| Aug 31, 2022 | 6.49 Bn |
| May 31, 2022 | 6.11 Bn |
| Feb 28, 2022 | 4.64 Bn |
| Nov 30, 2021 | 6.25 Bn |
API Access
Lennar Cost of Revenue API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=cost-of-revenue&ticker=LEN&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "cost-of-revenue", "ticker": "LEN", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=cost-of-revenue&ticker=LEN&period=max&api_key=YOUR_API_KEY");
const data = await res.json();