Lennar (LEN) 10-K Summary — Year Ended Nov 30, 2024
Lennar Corporation filed its annual report for the most recent fiscal year. The filing describes the company's homebuilding and financial services operations, along with associated risks and financial trends.
Key takeaway
Year ended Nov 30, 2024 · FY2025 10-K
Lennar Corporation filed its annual report for the most recent fiscal year. The filing describes the company's homebuilding and financial services operations, along with associated risks and financial trends.
Financial snapshot
Selected annual figures reported with the filing, shown separately from the narrative summary.
Annual revenue
$35.4B
Revenue reported for the fiscal year.
Operating income
n/a
Income from operations reported for the year.
Net income
$3.9B
Net income reported for the year.
Operating cash flow
$2.4B
Cash generated by operating activities.
Annual revenue trend
Reported annual revenue and its change from the preceding fiscal year.
| Period ended | Revenue | Year-over-year change |
|---|---|---|
| Nov 30, 2021 | $27.1B | n/a |
| Nov 30, 2022 | $33.7B | +24.1% |
| Nov 30, 2023 | $34.2B | +1.7% |
| Nov 30, 2024 | $35.4B | +3.5% |
Business overview
Lennar is a homebuilder and provider of financial services, operating primarily in the United States. The company's business overview covers its core homebuilding activities and related services, as outlined in the filing's Item 1. The filing also addresses risk factors, unresolved staff comments, and cybersecurity matters.
Financial performance
Revenue increased compared to the prior year, while net income and operating cash flow were reported at specific levels. The trend data shows revenue growth over the past several periods, with the most recent year continuing an upward trajectory.
Material risks
The filing identifies risk factors in Item 1A, which include industry-specific and operational uncertainties. These risks are stated without exaggeration and reflect the company's own assessment of potential challenges.
Liquidity and capital
The filing includes management's discussion and analysis of financial condition and results of operations, which addresses liquidity and capital allocation. No specific capital-allocation themes beyond this discussion are supported by the supplied context.
What to watch
Readers should monitor any changes in revenue trends or risk factor disclosures in the next filing.