Financial-condition grades for SEC filers
Company Report · as of Oct 9, 2026
|
| Lennar Corp.LEN-B · other | |
|---|---|
| Grade | Nonecomputable_factors_below_threshold: 3 of 14 inputs computable; 7 are required |
| Reliability | 0.94 AUCfailure model, filers with over $2.67B assets; 95% interval 0.88 to 0.97; 61 events, 2020 to 2025 |
| Peer failure rate | 0.52% a yearItem 1.03 bankruptcies, same asset band, 2012 to 2025 |
| Size band | over $2.67B assetstotal assets $34.4B[1] |
| Standard universe | insiderevenue above $1M and assets above $10M[1-2] |
| Warnings | thin datanot computable: dilution, short runway, distress |
| Inputs computable | 3 of 14 |
| Graded from | filings received through Jan 28, 2026254 days before the rescan; every figure keyed to the SEC receipt date |
| Last close | $76.512026-10-08; market equity $0; iex feed |
| Price used in grade | None |
| Share price, twelve months to the rescansplit-adjusted close; a lollipop at every rescan carries the letter held then; baseline ticks are SEC receipt dates of the inputs; ranges and dragging scroll the full history | ||||||||
|---|---|---|---|---|---|---|---|---|
Percentile at every rescan on file, Jan 21, 2012 to Oct 9, 2026; stronger toward the top. Hover for the date. Open this report as it stood on | ||||||||
Each date opens the report as it stood on that rescan. |
Business, in the company's words. Opening of Item 1 of the 10-K received Jan 28, 2026; the document on sec.gov.
We are one of the largest homebuilders in the United States by deliveries, revenues and net earnings, an originator of residential and commercial mortgage loans, a provider of title insurance and closing services and a developer of multifamily rental properties. In addition, we are a sponsor and manager of funds and joint ventures engaged in development and ownership of multifamily rental properties and a sponsor and manager of a fund engaged in ownership of single-family rental properties. We also have investments in companies that are engaged in applying technology to improve the homebuilding industry and real estate related aspects of the financial services industry.
7 checks ran; none of them enters the letter. The checks are listed on the warnings screen.
Lower percentile is stronger. Source numbers open the SEC filing; a range that spans filings opens the sources table.
| Input | Percentile, 0 to 100 | Value | Source | Peer median | Percentile | Peers | Period end |
|---|---|---|---|---|---|---|---|
| Profitability, sleeve percentile 91.6 | |||||||
| Gross profitability | not computable | 27.1% | |||||
| one or more required annual facts are missing | |||||||
| Return on invested capital | not computable | 10.0% | |||||
| a prior annual debt, equity, and cash observation is required | |||||||
| Accruals ratio | 4.9% | [1,3-5] | (5.9%) | 91.6 | 506 | 2025-11-30 | |
| Gross margin stability, five years | not computable | 2.2 pts | |||||
| five annual gross margins are required; found 0 | |||||||
| Solvency | |||||||
| Twelve-month failure probability | not computable | 0.04% | |||||
| firm-wide XBRL shares cannot be assigned to one ticker class | |||||||
| Altman Z double-prime | not computable | 2.05 | |||||
| one or more required annual facts are missing | |||||||
| Net debt to EBITDA | not computable | 2.52x | |||||
| required facts have no common fiscal period end | |||||||
| Interest coverage | not computable | 2.18x | |||||
| latest aligned inputs end 2016-11-30; latest annual assets end 2025-11-30 | |||||||
| Current ratio | not computable | 1.32x | |||||
| one or more required annual facts are missing | |||||||
| Growth and financing, sleeve percentile 88.3 | |||||||
| Revenue growth, three-year compound | not computable | 5.1% | |||||
| four consecutive annual observations are required | |||||||
| Free cash flow growth, three-year compound | (79.4%) | [4,6-12] | 8.7% | 99.3 | 220 | 2025-11-30 | |
| Reinvestment rate | not computable | 11.9% | |||||
| one or more required annual facts are missing | |||||||
| Asset growth, three years | (3.2%) | [1,5,13-14] | 4.1% | 77.2 | 438 | 2025-11-30 | |
| Net share issuance, one year | not computable | (0.4%) | |||||
| firm-wide XBRL shares cannot be assigned to one ticker class | |||||||
Gross profitability. Revenue less cost of goods sold, over total assets.
Accruals ratio. Net income less operating cash flow, over average assets; lower is stronger.
Gross margin stability, five years. Standard deviation of gross margin; lower is stronger.
Twelve-month failure probability. CHS model; lower is stronger.
Net debt to EBITDA. Lower is stronger.
Net share issuance, one year. Split-adjusted; lower is stronger.
Market measures at the 2026-10-08 close. None enters the grade. Percentile among graded peers with the same measure.
| Measure | Value | Peer median | Percentile | Reading |
|---|---|---|---|---|
| Twelve-month price change, skipping the latest month | (30.0%) | 2.0% | 21 | hotter than 21 of 100 peers |
| Distance from 52-week high | (38.6%) | (26.8%) | 32 | closer to its high than 32 of 100 peers |
| EBIT to enterprise value | not computable | 4.4% | required accounting or market input is missing | |
| Free cash flow yield | not computable | 4.1% | required accounting or market input is missing | |
| Book value to price | not computable | 0.34 | required accounting or market input is missing | |
| Sales to price | not computable | 0.70 | required accounting or market input is missing | |
| Composite equity issuance, five years | not computable | (8.8%) | required accounting or market input is missing | |
| Relative strength against the sector, log excess return | (0.50) | (0.13) | 21 | ahead of 21 of 100 peers |
Inputs: EBIT $3.5B; free cash flow $28.2M; book equity $21.6B; sales $34.2B; debt $5.9B; cash $3.8B.
Diagnostics do not feed the grade.
| Piotroski F-score: None of 9, period end 2025-11-30 | ||
|---|---|---|
| Return on assets above zero | 5.0% | ✓ pass[3,5] |
| Operating cash flow above zero | $216.8M | ✓ pass[4] |
| Return on assets improved | (5.0 pts) | ✗ fail[3,5,13,15] |
| Operating cash flow exceeds net income | -$1.9B | ✗ fail[3-4] |
| Long-term leverage fell | n/a[1,5,13,16] | |
| Current ratio improved | n/a | |
| No new shares issued | n/a | |
| Gross margin improved | n/a | |
| Asset turnover improved | (7.6 pts) | ✗ fail[2,5,13,17] |
| Cash, filings, liquidity | |
|---|---|
| Cash and equivalents | n/a |
| Operating cash flow, four quarters | n/a[4,18-21] |
| Months of runway | not finite |
| cash is missing at the end of the latest cash-flow quarter | |
| Late filings, two years | 0 |
| NT 10-K or NT 10-Q | |
| Days since last periodic filing | 7 |
| 10-Q received Oct 2, 2026 | |
| Median daily dollar volume | $7.1M |
| 63 sessions | |
| Days since newest grade input | 254 |
|
Every citation on this page. Filing opens the SEC index page for that submission; viewer opens the SEC interactive data for the same filing; series opens the SEC XBRL API record for that tag and company.
| # | Concept | XBRL tag | Value | Period end | Received | Form | Links |
|---|---|---|---|---|---|---|---|
| 1 | assets | us-gaap:Assets | $34.4B | 2025-11-30 | 2026-01-28 | 10-K | filing · viewer · series |
| 2 | revenue | us-gaap:Revenues | $34.2B | 2025-11-30 | 2026-01-28 | 10-K | filing · viewer · series |
| 3 | net income | us-gaap:NetIncomeLoss | $2.1B | 2025-11-30 | 2026-01-28 | 10-K | filing · viewer · series |
| 4 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | $216.8M | 2025-11-30 | 2026-01-28 | 10-K | filing · viewer · series |
| 5 | assets | us-gaap:Assets | $41.3B | 2024-11-30 | 2026-01-28 | 10-K | filing · viewer · series |
| 6 | capital expenditure | us-gaap:PaymentsToAcquirePropertyPlantAndEquipment | $188.6M | 2025-11-30 | 2026-01-28 | 10-K | filing · viewer · series |
| 7 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | $2.4B | 2024-11-30 | 2026-01-28 | 10-K | filing · viewer · series |
| 8 | capital expenditure | us-gaap:PaymentsToAcquirePropertyPlantAndEquipment | $171.5M | 2024-11-30 | 2026-01-28 | 10-K | filing · viewer · series |
| 9 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | $5.2B | 2023-11-30 | 2026-01-28 | 10-K | filing · viewer · series |
| 10 | capital expenditure | us-gaap:PaymentsToAcquirePropertyPlantAndEquipment | $99.8M | 2023-11-30 | 2026-01-28 | 10-K | filing · viewer · series |
| 11 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | $3.3B | 2022-11-30 | 2025-01-23 | 10-K | filing · viewer · series |
| 12 | capital expenditure | us-gaap:PaymentsToAcquirePropertyPlantAndEquipment | $57.2M | 2022-11-30 | 2025-01-23 | 10-K | filing · viewer · series |
| 13 | assets | us-gaap:Assets | $39.2B | 2023-11-30 | 2025-01-23 | 10-K | filing · viewer · series |
| 14 | assets | us-gaap:Assets | $38.0B | 2022-11-30 | 2024-01-26 | 10-K | filing · viewer · series |
| 15 | net income | us-gaap:NetIncomeLoss | $3.9B | 2024-11-30 | 2026-01-28 | 10-K | filing · viewer · series |
| 16 | long term debt | us-gaap:LongTermDebt | $5.9B | 2025-11-30 | 2026-01-28 | 10-K | filing · viewer · series |
| 17 | revenue | us-gaap:Revenues | $35.4B | 2024-11-30 | 2026-01-28 | 10-K | filing · viewer · series |
| 18 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | -$822.2M | 2026-08-31 | 2026-10-02 | 10-Q | filing · viewer · series |
| 19 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | -$717.9M | 2026-05-31 | 2026-06-29 | 10-Q | filing · viewer · series |
| 20 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | -$433.5M | 2026-02-28 | 2026-04-09 | 10-Q | filing · viewer · series |
| 21 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | -$1.5B | 2025-08-31 | 2026-10-02 | 10-Q | filing · viewer · series |
Peer group. Sector assignment from four-digit SIC codes, hand-tuned and published. The grade under three alternative peer policies is tabled above.
Size. Within a sector the letter tracks size. Among graded filers in the smallest asset band, 72% grade E and 0% grade A; in the largest, 13% grade E and 21% grade A. Universe as of Oct 9, 2026.
Failure model. filings 2012-01-01 to 2019-12-31 fit, filings 2020-01-01 to 2025-12-31 test; status post hoc pending confirmation. pre-registered on 2026 filings once their 12-month outcome windows close; supported if the paired per-quintile gain over the pooled model has a lower bound above 0.05.
Input validity. Revenue or total assets at or below $100,000 sets the degenerate-inputs flag. An input whose denominator is at or below $100,000 is left not computable rather than ranked.
Returns. No input on this page has a post-2015 confidence interval on returns that excludes zero. The grade ranks reported financial condition and is not a return forecast.
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