Lennar (LEN) Operating Expenses (2009 - 2026)
Lennar (LEN) reported Operating Expenses of $7.5 billion for Q2 2026, down 2.68% on a YoY basis from $7.7 billion in Q2 2025, and up 17.78% sequentially from $6.4 billion in Q1 2026.
Lennar (LEN) Operating Expenses (2009 - 2026) Analysis & Trends
Lennar (LEN) has 18 years of Operating Expenses data on file, last reported at $7.5 billion in Q2 2026.
- For the quarter ending Q2 2026, Operating Expenses fell 2.68% year-over-year to $7.5 billion; the trailing twelve-month figure through May 2026 stood at $30.8 billion (down 1.97% YoY), and the FY2025 full-year result was $31.5 billion, up 2.76% from the prior year.
- Operating Expenses rose to $7.5 billion in Q2 2026, from $6.4 billion in the prior quarter.
- In the past five years, Operating Expenses ranged from a high of $9.1 billion in Q4 2023 to a low of $5.1 billion in Q1 2022.
- A 5-year average of $7.3 billion and a median of $7.4 billion in 2023 frame the typical range for Operating Expenses.
- Across the five-year window, Operating Expenses rose 24.73% in 2022 and slipped 7.68% in 2026, its largest moves.
- Tracing LEN's Operating Expenses over 5 years: stood at $8.3 billion in 2022, then grew by 9.04% to $9.1 billion in 2023, then fell by 5.49% to $8.6 billion in 2024, then grew by 1.64% to $8.7 billion in 2025, then retreated by 13.55% to $7.5 billion in 2026.
- Business Quant data shows LEN's Operating Expenses at $7.5 billion in Q2 2026, $6.4 billion in Q1 2026, and $8.7 billion in Q4 2025.
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Horton D R | 40.90 Bn | 39.56 Bn | 2.15 Bn | 991.20 Mn |
| 2 | Pultegroup | 23.36 Bn | 22.03 Bn | 3.92 Bn | 382.97 Mn |
| 3 | Lennar | 19.77 Bn | 19.63 Bn | 7.69 Bn | 7.54 Bn |
| 4 | Nvr | 17.18 Bn | 15.54 Bn | 1.31 Bn | 156.97 Mn |
| 5 | Toll Brothers | 15.08 Bn | 13.99 Bn | 604.89 Mn | 258.25 Mn |
| 6 | Taylor Morrison Home | 6.96 Bn | 6.31 Bn | 290.64 Mn | 148.85 Mn |
| 7 | Installed Building Products | 5.97 Bn | 5.50 Bn | 212.30 Mn | 154.70 Mn |
| 8 | Meritage Homes | 4.78 Bn | 4.01 Bn | 68.61 Mn | 130.87 Mn |
| 9 | Champion Homes | 4.47 Bn | 3.81 Bn | 172.19 Mn | 109.73 Mn |
| 10 | M | 4.43 Bn | 3.66 Bn | 202.59 Mn | 831.54 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| May 31, 2026 | 7.54 Bn |
| Feb 28, 2026 | 6.40 Bn |
| Nov 30, 2025 | 8.72 Bn |
| Aug 31, 2025 | 8.11 Bn |
| May 31, 2025 | 7.75 Bn |
| Feb 28, 2025 | 6.94 Bn |
| Nov 30, 2024 | 8.58 Bn |
| Aug 31, 2024 | 8.13 Bn |
| May 31, 2024 | 7.55 Bn |
| Feb 29, 2024 | 6.41 Bn |
| Nov 30, 2023 | 9.08 Bn |
| Aug 31, 2023 | 7.26 Bn |
| May 31, 2023 | 6.85 Bn |
| Feb 28, 2023 | 5.67 Bn |
| Nov 30, 2022 | 8.33 Bn |
| Aug 31, 2022 | 6.99 Bn |
| May 31, 2022 | 6.51 Bn |
| Feb 28, 2022 | 5.12 Bn |
| Nov 30, 2021 | 6.68 Bn |
| Aug 31, 2021 | 5.61 Bn |