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U.S. COMPANY FILING

LENNAR CORP /NEW/ — Form 10-K filed 2026-01-28

Filed: 2026-01-28Company: LENNAR CORP /NEW/Ticker: LENExchange: NYSEForm: 10-KReport period: 2025-11-30SEC accession: 0001628280-26-003870Event: earningsMateriality: 85

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Lennar reported FY2025 results with revenues declining and gross margin down to 17.7% from 22.3%. Net earnings were $2.08 billion, EPS $7.98. The company repurchased $1.8 billion of stock, paid $521 million dividends, and completed the Millrose spin-off. Cash decreased to $3.8 billion, total liquidity $6.6 billion. Operating cash flow fell sharply to $217 million.

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