Lennar (LEN) Operating Margin (2010 - 2026)

Lennar (LEN) posted Operating Margin of 1.84% for Q2 2026, up 388.65% sequentially from 0.64% in Q1 2026, and down 58.0% YoY from 4.38% in Q2 2025.

Lennar (LEN) Operating Margin (2010 - 2026) Analysis & Trends

Lennar has reported Operating Margin for 17 years, with the latest figure at 1.84% in Q2 2026.

Quarterly Operating Margin fell 58.0% year-over-year to 1.84% in Q2 2026, while the trailing twelve-month figure through May 2026 was 0.32% (up 1448.0% YoY) and the FY2025 annual result came in at 3.37%, down 689.0% from the prior year.
Operating Margin improved to 1.84% in Q2 2026 per LEN's latest filing, from 0.64% in the prior quarter.
Over five years, Operating Margin peaked at 19.33% in Q3 2022 and troughed at 150.46% in Q1 2022.
A 5-year average of 17.68% and a median of 3.83% in 2025 frame the typical range for Operating Margin.
The sharpest annual moves came in 2022 and 2023: Operating Margin slumped 18753 bps in 2022, then soared 16294 bps in 2023.
Over 5 years, Operating Margin stood at 59.69% in 2022, then jumped by 113 bps to 7.64% in 2023, then declined by 14 bps to 6.54% in 2024, then plunged by 175 bps to 4.92% in 2025, then surged by 137 bps to 1.84% in 2026.
According to Business Quant data, Operating Margin over the past three periods registered 1.84%, 0.64%, and 4.92% for Q2 2026, Q1 2026, and Q4 2025 respectively.

#	Company	Market Cap	Enterprise Value	Gross Profit (Qtr)	Operating Margin (Qtr)
1	Horton D R	41.75 Bn	39.61 Bn	2.15 Bn	12.52%
2	Pultegroup	24.22 Bn	22.84 Bn	1.06 Bn	16.95%
3	Lennar	20.63 Bn	18.45 Bn	7.69 Bn	1.84%
4	Nvr	17.05 Bn	15.96 Bn	485.14 Mn	14.38%
5	Toll Brothers	13.82 Bn	12.72 Bn	604.89 Mn	13.69%
6	Taylor Morrison Home	6.77 Bn	6.12 Bn	290.64 Mn	10.22%
7	Installed Building Products	6.51 Bn	6.12 Bn	258.90 Mn	12.16%
8	Champion Homes	5.01 Bn	4.37 Bn	-	-
9	Meritage Homes	4.69 Bn	3.88 Bn	254.14 Mn	7.85%
10	Cavco Industries	4.53 Bn	4.28 Bn	-	-

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