Lennar (LEN) Gross Margin (2013 - 2026)
Lennar (LEN) reported Gross Margin of 7.69% for fiscal Q3 2026 (quarter ended Aug 31, 2026), down 2.44 percentage points from 10.13% a year earlier and down 2.48 percentage points from the prior quarter.
Lennar (LEN) Gross Margin (2013 - 2026) Analysis & Trends
Over the twelve months ended Aug 31, 2026, Lennar's Gross Margin came in at 9.08%, down 2.18 percentage points year-over-year; for FY2025 (ended Nov 30, 2025), it was 9.91%, down 5.61 percentage points from FY2024.
- Gross Margin has declined for three consecutive fiscal years, with a five-year change of -10.22 percentage points (FY2020 to FY2025).
- By fiscal year, Gross Margin came in at 15.52% in FY2024 (-1.84 pp), 17.35% in FY2023 (-7.92 pp), 25.27% in FY2022 (+0.84 pp) and 24.43% in FY2021 (+4.30 pp).
- The fiscal Q3 2026 figure ranks as the lowest quarterly Gross Margin since fiscal Q4 2024.
- Year over year, Gross Margin has now declined in each of the last three quarters, with an average year-over-year change of -3.91 percentage points over the last eight quarters.
- The high point for year-over-year Gross Margin in five years was fiscal Q2 2022 (a gain of 3.31 percentage points); the low point was fiscal Q4 2023 (a drop of 10.74 percentage points).
- Per Business Quant data, the three fiscal quarters before Q3 2026 came in at 10.17% (Q2 2026), 9.81% (Q1 2026) and 8.85% (Q4 2025).
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Horton D R | 39.50 Bn | 29.80 Bn | 2.15 Bn | 23.26% |
| 2 | Pultegroup | 21.65 Bn | 14.94 Bn | 1.06 Bn | 26.57% |
| 3 | Lennar | 18.69 Bn | 9.07 Bn | 618.54 Mn | 7.69% |
| 4 | Nvr | 16.09 Bn | 9.37 Bn | 485.14 Mn | 20.85% |
| 5 | Toll Brothers | 12.70 Bn | 8.07 Bn | 625.22 Mn | 23.52% |
| 6 | Champion Homes | 4.26 Bn | 1.73 Bn | - | - |
| 7 | Cavco Industries | 4.04 Bn | 2.79 Bn | - | - |
| 8 | Meritage Homes | 3.95 Bn | 875.15 Mn | 513.60 Mn | 18.28% |
| 9 | M | 3.17 Bn | 242.64 Mn | 235.50 Mn | 22.15% |
| 10 | Green Brick Partners | 2.66 Bn | 2.09 Bn | 157.52 Mn | 31.90% |
Historic Data
| Date | Value |
|---|---|
| Aug 31, 2026 | 7.69% |
| May 31, 2026 | 10.17% |
| Feb 28, 2026 | 9.81% |
| Nov 30, 2025 | 8.85% |
| Aug 31, 2025 | 10.13% |
| May 31, 2025 | 14.68% |
| Feb 28, 2025 | 14.30% |
| Nov 30, 2024 | 7.05% |
| Aug 31, 2024 | 19.15% |
| May 31, 2024 | 18.93% |
| Feb 29, 2024 | 18.26% |
| Nov 30, 2023 | 11.42% |
| Aug 31, 2023 | 21.38% |
| May 31, 2023 | 19.96% |
| Feb 28, 2023 | 18.73% |
| Nov 30, 2022 | 22.16% |
| Aug 31, 2022 | 27.31% |
| May 31, 2022 | 26.96% |
| Feb 28, 2022 | 25.17% |
| Nov 30, 2021 | 25.90% |
Lennar Gross Margin 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=gross-margin&ticker=LEN&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "gross-margin", "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=gross-margin&ticker=LEN&period=max&api_key=YOUR_API_KEY");
const data = await res.json();