Lennar (LEN) Operating Margin (2010 - 2026)
Lennar's Operating Margin came in at -86.60% for fiscal Q3 2026 (quarter ended Aug 31, 2026), down 4.67 percentage points from -81.93% a year earlier and down 1.78 percentage points from the prior quarter.
Lennar (LEN) Operating Margin (2010 - 2026) Analysis & Trends
Over the trailing twelve months to Aug 31, 2026, Lennar reported Operating Margin of -85.54%, down 6.55 percentage points year-over-year; for FY2025 (ended Nov 30, 2025), it was -82.29%, down 11.26 percentage points from FY2024.
- Operating Margin has declined in each of the last three fiscal years, with a five-year change of -16.27 percentage points (FY2020 to FY2025).
- Going back by fiscal year, Operating Margin was -71.03% in FY2024 (-4.06 pp), -66.97% in FY2023 (-12.20 pp), -54.77% in FY2022 (+2.09 pp) and -56.85% in FY2021 (+9.16 pp).
- The five-year range for quarterly Operating Margin is -86.93% (fiscal Q1 2026) to 22.50% (fiscal Q2 2022).
- Year-over-year, Operating Margin has declined for 16 consecutive quarters, with an average year-over-year change of -8.43 percentage points over the last eight quarters.
- The fastest year-over-year change in Operating Margin over five years came in fiscal Q4 2021 (a gain of 7.24 percentage points), and the weakest in fiscal Q2 2023 (a drop of 87.70 percentage points).
- Business Quant data shows LEN's Operating Margin at -84.82% (Q2 2026), -86.93% (Q1 2026) and -84.28% (Q4 2025) in the three fiscal quarters before Q3 2026.
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Horton D R | 39.39 Bn | 29.69 Bn | 2.15 Bn | 12.52% |
| 2 | Pultegroup | 21.62 Bn | 14.91 Bn | 1.06 Bn | 16.95% |
| 3 | Lennar | 18.69 Bn | 9.06 Bn | 618.54 Mn | -86.60% |
| 4 | Nvr | 16.02 Bn | 9.31 Bn | 485.14 Mn | 14.38% |
| 5 | Toll Brothers | 12.67 Bn | 8.04 Bn | 625.22 Mn | 13.51% |
| 6 | Champion Homes | 4.25 Bn | 1.72 Bn | - | - |
| 7 | Cavco Industries | 4.01 Bn | 2.76 Bn | - | - |
| 8 | Meritage Homes | 3.93 Bn | 849.49 Mn | 513.60 Mn | 16.42% |
| 9 | M | 3.17 Bn | 243.20 Mn | 235.50 Mn | -68.02% |
| 10 | Green Brick Partners | 2.66 Bn | 2.09 Bn | 157.52 Mn | 20.88% |
Historic Data
| Date | Value |
|---|---|
| Aug 31, 2026 | -86.60% |
| May 31, 2026 | -84.82% |
| Feb 28, 2026 | -86.93% |
| Nov 30, 2025 | -84.28% |
| Aug 31, 2025 | -81.93% |
| May 31, 2025 | -77.82% |
| Feb 28, 2025 | -76.58% |
| Nov 30, 2024 | -79.24% |
| Aug 31, 2024 | -67.19% |
| May 31, 2024 | -67.17% |
| Feb 29, 2024 | -69.42% |
| Nov 30, 2023 | -71.38% |
| Aug 31, 2023 | -61.77% |
| May 31, 2023 | -65.21% |
| Feb 28, 2023 | -68.69% |
| Nov 30, 2022 | -59.69% |
| Aug 31, 2022 | -50.95% |
| May 31, 2022 | 22.50% |
| Feb 28, 2022 | -57.41% |
| Nov 30, 2021 | -53.27% |
Lennar Operating 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=operating-margin&ticker=LEN&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-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=operating-margin&ticker=LEN&period=max&api_key=YOUR_API_KEY");
const data = await res.json();