Lennar Corporation
Statements
Segments
US companies must disclose in their mandatory reports how revenue breaks down across business segments, regions and product lines. We read that breakdown for you straight from the annual and quarterly reports (10-K and 10-Q) of Lennar Corporation (LEN). It shows which part of the business is growing — and which one is holding it back.
Revenue by business segment
| Segment | 2020 | 2021 | 2022 |
|---|---|---|---|
| Homebuilding | $20.98B 48.3% | $25.55B 48.5% · +21.8% | $31.95B 48.7% · +25.1% |
| West | $8.44B 19.4% | $10.56B 20.1% · +25.2% | $12.57B 19.2% · +19.0% |
| East | $5.72B 13.1% | $6.87B 13.0% · +20.2% | $9.27B 14.1% · +34.9% |
| Central | $4.09B 9.4% | $4.83B 9.2% · +17.9% | $5.85B 8.9% · +21.1% |
| Texas | $2.71B 6.2% | $3.24B 6.2% · +19.6% | $4.23B 6.4% · +30.4% |
| Multifamily | $576.3M 1.3% | $665.2M 1.3% · +15.4% | $865.6M 1.3% · +30.1% |
| Financial Services | $890.3M 2.0% | $898.7M 1.7% · +0.9% | $809.7M 1.2% · -9.9% |
| Lennar Other | $41.1M 0.1% | $21.5M 0.0% · -47.8% | $44.4M 0.1% · +106.9% |
| Other | $25.6M 0.1% | $42.7M 0.1% · +67.0% | $40.1M 0.1% · -6.0% |
Large figure: segment revenue. Below it the share of revenue in that period and the change against the prior year.
| Segment | 2020 | 2021 | 2022 |
|---|---|---|---|
| Homebuilding | $2.99B 14.2% | $5.03B 19.7% | $6.78B 21.2% |
| West | $1.24B 14.7% | $2.19B 20.8% | $2.77B 22.1% |
| East | $933.3M 16.3% | $1.46B 21.2% | $2.24B 24.2% |
| Central | $482.9M 11.8% | $720.4M 14.9% | $889.2M 15.2% |
| Texas | $421.6M 15.6% | $730.5M 22.5% | $929.2M 22.0% |
| Multifamily | $22.7M 3.9% | $21.5M 3.2% | $69.5M 8.0% |
| Financial Services | $481.0M 54.0% | $491.0M 54.6% | $383.3M 47.3% |
| Lennar Other | -$10.3M -25.2% | $733.0M 3,416.3% | -$734.6M -1,654.9% |
| Other | -$90.4M -353.6% | -$67.0M -157.0% | -$55.0M -137.0% |
Large figure: segment operating income. Below it the margin, that is operating income measured against the revenue of the same segment.
Revenue by product line
| Segment | 2023 | 2024 | 2025 |
|---|---|---|---|
| Home | $32.46B 94.8% | $33.78B 95.3% · +4.1% | $32.10B 93.9% · -5.0% |
| Other revenues | $1.66B 4.9% | $1.57B 4.4% · -5.7% | $1.96B 5.7% · +24.8% |
| Land sales revenues | $110.0M 0.3% | $93.4M 0.3% · -15.1% | $130.2M 0.4% · +39.5% |
Large figure: segment revenue. Below it the share of revenue in that period and the change against the prior year.
Segment and region names are the ones the company itself uses and are shown as reported. Change and share refer to revenue.
Data as of: August 10, 2026 · Source: fundamental data & SEC filings (annual and quarterly reports, 10-K/10-Q) · Segment figures: SEC EDGAR (10-K/10-Q reports)
Note: pure fact-based analysis, not investment advice and not a solicitation to buy or sell. All figures without guarantee.