Lennar (LEN) Operating Expenses (2009 - 2026)
Lennar (LEN) posted Operating Expenses of $7.5 billion for Q2 2026, up 17.78% sequentially from $6.4 billion in Q1 2026, and down 2.68% YoY from $7.7 billion in Q2 2025.
Lennar (LEN) Operating Expenses (2009 - 2026) Analysis & Trends
Lennar has reported Operating Expenses for 18 years, with the latest figure at $7.5 billion in Q2 2026.
- Quarterly Operating Expenses fell 2.68% year-over-year to $7.5 billion in Q2 2026, while the trailing twelve-month figure through May 2026 was $30.8 billion (down 1.97% YoY) and the FY2025 annual result came in at $31.5 billion, up 2.76% from the prior year.
- Operating Expenses rose to $7.5 billion in Q2 2026 per LEN's latest filing, from $6.4 billion in the prior quarter.
- Over five years, Operating Expenses peaked at $9.1 billion in Q4 2023 and troughed at $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.
- The sharpest annual moves came in 2022 and 2026: Operating Expenses advanced 24.73% in 2022, then declined 7.68% in 2026.
- Over 5 years, Operating Expenses stood at $8.3 billion in 2022, then gained by 9.04% to $9.1 billion in 2023, then slipped by 5.49% to $8.6 billion in 2024, then gained by 1.64% to $8.7 billion in 2025, then dropped by 13.55% to $7.5 billion in 2026.
- According to Business Quant data, Operating Expenses over the past three periods registered $7.5 billion, $6.4 billion, and $8.7 billion for Q2 2026, Q1 2026, and Q4 2025 respectively.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Horton D R | 41.84 Bn | 39.71 Bn | 2.15 Bn | 991.20 Mn |
| 2 | Pultegroup | 24.32 Bn | 22.94 Bn | 1.06 Bn | 382.97 Mn |
| 3 | Lennar | 20.82 Bn | 18.64 Bn | 7.69 Bn | 7.54 Bn |
| 4 | Nvr | 17.07 Bn | 15.97 Bn | 485.14 Mn | 150.72 Mn |
| 5 | Toll Brothers | 13.90 Bn | 12.79 Bn | 604.89 Mn | 258.25 Mn |
| 6 | Taylor Morrison Home | 6.77 Bn | 6.12 Bn | 290.64 Mn | 148.85 Mn |
| 7 | Installed Building Products | 6.54 Bn | 6.15 Bn | 258.90 Mn | 164.30 Mn |
| 8 | Champion Homes | 5.06 Bn | 4.43 Bn | - | - |
| 9 | Meritage Homes | 4.70 Bn | 3.89 Bn | 254.14 Mn | 144.19 Mn |
| 10 | Cavco Industries | 4.53 Bn | 4.28 Bn | - | - |
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 |