The Moat Index

LENNAR CORP /NEW/

LEN · Industrials · FY2025 filings · Not rated ·

Not rated

/ 100
Not rated

We don't have enough comparable filing data to score LEN on every filter, so we don't publish a composite. Missing: pricingPower, balanceSheet.

19 years of fundamentals

The business, in plain English

Across the filed record, revenue grew from $4.6B (FY2008) to $34.2B (FY2025) — about 12.6% a year compounded over 17 years.

It earned 12.2% on invested capital in FY2020, with a median of 16.1% across 12 filed years. The Returns on Capital filter above scores it 69/100.

The balance sheet carried $5.9B of total debt in FY2025 against $2.1B of owner earnings — roughly 2.8 years of owner earnings to retire it all.

The share count rose 159407.3% between FY2009 and FY2024 — existing owners have been diluted over the record. Capital Discipline scores it 51/100.

This breakdown is generated from the filed numbers and sub-scores above — no outside narrative, no estimates. Where a filing doesn’t disclose an input, the sentence that would need it is omitted instead of guessed.

FY2007–FY2025 · 19 fiscal years, normalized from LEN’s SEC filings

RevenueSales, as filed$34.2B FY2025
$0$20B2007201320192025
Gross marginRevenue kept after cost of goods

Not disclosed in LEN’s filings for these years — we don’t estimate it.

Return on invested capitalOperating profit on the capital employed12.2% FY2020
−50%0%2007201320192025
Owner earningsCash an owner could take out$2.1B FY2025
$0$2.5B$5B2007201320192025

Gaps in a line mean that item isn’t in LEN’s filings for that year — the series is never interpolated or estimated. The Table view lists every filed value, including operating and net margins, total debt, and share count.

Moat Score history

Score history begins 2026-07-17. Check back as the record builds.

Scores are logged append-only and never overwritten — this record can't be backfilled, which is exactly why it's worth keeping.

Embed this score on your site

One iframe, no script. The badge shows LEN’s live Moat Score, updates itself as new filings are scored, and links back here. How it works.

<iframe
  src="https://buylikebuffett.com/embed/LEN"
  width="340" height="150" style="border:0"
  title="LEN Moat Score — The Moat Index"
  loading="lazy"></iframe>
LENNAR CORP /NEW/ (LEN) Moat Score — The Moat Index · Buy Like Buffett