Lennar (LEN) Operating Expenses (2009 - 2026)
Lennar's (LEN) quarterly Operating Expenses came in at $7.5 billion in Q2 2026, down 2.68% year-over-year from $7.7 billion in Q2 2025, and up 17.78% quarter-over-quarter from $6.4 billion in Q1 2026.
Analysis
Lennar (LEN) Operating Expenses (2009 - 2026) Analysis & Trends
Lennar has disclosed Operating Expenses across 18 years of filings, most recently posting $7.5 billion for Q2 2026.
- In Q2 2026, Operating Expenses fell 2.68% year-over-year to $7.5 billion; the TTM figure through May 2026 stood at $30.8 billion (down 1.97% YoY), while the FY2025 annual figure was $31.5 billion, up 2.76% from the prior year.
- Operating Expenses came in at $7.5 billion for Q2 2026 at Lennar, up 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.
- Average Operating Expenses over 5 years is $7.3 billion, with a median of $7.4 billion recorded in 2023.
- Year-over-year, Operating Expenses gained 24.73% in 2022 and dropped 7.68% in 2026.
- Over 5 years, Operating Expenses stood at $8.3 billion in 2022, then increased by 9.04% to $9.1 billion in 2023, then retreated by 5.49% to $8.6 billion in 2024, then increased by 1.64% to $8.7 billion in 2025, then decreased by 13.55% to $7.5 billion in 2026.
- Per Business Quant data, the three most recent Operating Expenses figures were $7.5 billion in Q2 2026, $6.4 billion in Q1 2026, and $8.7 billion in Q4 2025.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Horton D R | 38.17 Bn | 36.03 Bn | 2.15 Bn | 991.20 Mn |
| 2 | Pultegroup | 21.99 Bn | 20.62 Bn | 1.06 Bn | 382.97 Mn |
| 3 | Lennar | 18.75 Bn | 16.57 Bn | 7.69 Bn | 7.54 Bn |
| 4 | Nvr | 16.44 Bn | 15.35 Bn | 485.14 Mn | 150.72 Mn |
| 5 | Toll Brothers | 12.40 Bn | 11.34 Bn | 625.22 Mn | 266.07 Mn |
| 6 | Taylor Morrison Home | 6.77 Bn | 6.12 Bn | 290.64 Mn | 148.85 Mn |
| 7 | Meritage Homes | 4.07 Bn | 3.26 Bn | 254.14 Mn | 144.19 Mn |
| 8 | M | 3.57 Bn | 2.83 Bn | 235.50 Mn | 958.69 Mn |
| 9 | Kb Home | 2.95 Bn | 2.88 Bn | 174.03 Mn | 140.55 Mn |
| 10 | Green Brick Partners | 2.91 Bn | 2.78 Bn | 157.52 Mn | 54.40 Mn |
Historic Data
Download Data
Historic 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 |