Lennar annual free cash flow
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
Lennar Free Cash Flow (FCF) History (LEN)
Lennar reported $28.2M in free cash flow for fiscal 2025, a decrease of 98.74% from the previous fiscal year, with a free cash flow margin of 0.08%.
View full Lennar company overviewLennar free cash flow by year
| Fiscal year | Period ended | Free cash flow | Change | Growth | FCF margin |
|---|---|---|---|---|---|
| 2025 | 2025-11-30 | $28.2M | −$2.20B | −98.74% | +0.08% |
| 2024 | 2024-11-30 | $2.23B | −$2.85B | −56.06% | +6.30% |
| 2023 | 2023-11-30 | $5.08B | $1.87B | +58.33% | +14.84% |
| 2022 | 2022-11-30 | $3.21B | $740.9M | +30.02% | +9.53% |
| 2021 | 2021-11-30 | $2.47B | −$1.65B | −40.08% | +9.10% |
| 2020 | 2020-11-30 | $4.12B | $2.72B | +195.02% | +18.31% |
| 2019 | 2019-11-30 | $1.40B | −$165.5M | −10.60% | +6.27% |
| 2018 | 2018-11-30 | $1.56B | $690.7M | +79.34% | +7.59% |
| 2017 | 2017-11-30 | $870.6M | $439.2M | +101.82% | +6.88% |
| 2016 | 2016-11-30 | $431.4M | $942.4M | — | +3.94% |
| 2015 | 2015-11-30 | −$511.0M | $300.1M | — | −5.39% |
| 2014 | 2014-11-30 | −$811.1M | — | — | −10.43% |
Lennar quarterly free cash flow
Q3.15
Q1.16
Q2.16
Q3.16
Q4.16
Q1.17
Q2.17
Q3.17
Q4.17
Q1.18
Q2.18
Q3.18
Q4.18
Q1.19
Q2.19
Q3.19
Q4.19
Q1.20
Q2.20
Q3.20
Q4.20
Q1.21
Q2.21
Q3.21
Q4.21
Q1.22
Q2.22
Q3.22
Q4.22
Q1.23
Q2.23
Q3.23
Q4.23
Q1.24
Q2.24
Q3.24
Q4.24
Q1.25
Q2.25
Q3.25
Q4.25
Q1.26
Q2.26
| Fiscal quarter | Period ended | Free cash flow | Change | YoY growth | FCF margin |
|---|---|---|---|---|---|
| Q2 2026 | 2026-05-31 | −$303.2M | $807.0M | — | −3.82% |
| Q1 2026 | 2026-02-28 | −$463.5M | −$118.4M | — | −7.00% |
| Q4 2025 | 2025-11-30 | $1.67B | $741.1M | +79.42% | +17.87% |
| Q3 2025 | 2025-08-31 | −$190.8M | −$991.6M | — | −2.17% |
| Q2 2025 | 2025-05-31 | −$1.11B | −$1.31B | — | −13.25% |
| Q1 2025 | 2025-02-28 | −$345.1M | −$640.0M | — | −4.52% |
| Q4 2024 | 2024-11-30 | $933.1M | −$1.61B | −63.31% | +9.38% |
| Q3 2024 | 2024-08-31 | $800.8M | −$128.7M | −13.84% | +8.51% |
| Q2 2024 | 2024-05-31 | $203.0M | −$431.7M | −68.02% | +2.32% |
| Q1 2024 | 2024-02-29 | $294.9M | −$677.8M | −69.68% | +4.03% |
| Q4 2023 | 2023-11-30 | $2.54B | −$141.5M | −5.27% | +23.19% |
| Q3 2023 | 2023-08-31 | $929.5M | $447.3M | +92.78% | +10.65% |
| Q2 2023 | 2023-05-31 | $634.6M | $514.9M | +429.94% | +7.89% |
| Q1 2023 | 2023-02-28 | $972.8M | $1.05B | — | +14.99% |
| Q4 2022 | 2022-11-30 | $2.68B | $1.49B | +124.61% | +26.39% |
| Q3 2022 | 2022-08-31 | $482.2M | −$96.5M | −16.67% | +5.40% |
| Q2 2022 | 2022-05-31 | $119.8M | −$197.1M | −62.20% | +1.43% |
| Q1 2022 | 2022-02-28 | −$78.0M | −$455.0M | — | −1.26% |
| Q4 2021 | 2021-11-30 | $1.20B | −$68.9M | −5.45% | +14.17% |
| Q3 2021 | 2021-08-31 | $578.6M | −$990.3M | −63.12% | +8.34% |
| Q2 2021 | 2021-05-31 | $316.8M | −$603.2M | −65.56% | +4.93% |
| Q1 2021 | 2021-02-28 | $376.9M | $11.9M | +3.25% | +7.08% |
| Q4 2020 | 2020-11-30 | $1.26B | $97.0M | +8.31% | +18.52% |
| Q3 2020 | 2020-08-31 | $1.57B | $862.5M | +122.10% | +26.73% |
| Q2 2020 | 2020-05-31 | $920.0M | $845.8M | +1140.53% | +17.40% |
| Q1 2020 | 2020-02-29 | $365.1M | $916.9M | — | +8.10% |
| Q4 2019 | 2019-11-30 | $1.17B | $250.7M | +27.36% | +16.74% |
| Q3 2019 | 2019-08-31 | $706.4M | $22.0M | +3.22% | +12.06% |
| Q2 2019 | 2019-05-31 | $74.2M | −$82.8M | −52.74% | +1.33% |
| Q1 2019 | 2019-02-28 | −$551.8M | −$355.5M | — | −14.27% |
| Q4 2018 | 2018-11-30 | $916.4M | $306.4M | +50.23% | +14.19% |
| Q3 2018 | 2018-08-31 | $684.3M | $216.9M | +46.41% | +12.06% |
| Q2 2018 | 2018-05-31 | $156.9M | $417.3M | — | +2.87% |
| Q1 2018 | 2018-02-28 | −$196.3M | −$249.9M | — | −6.59% |
| Q4 2017 | 2017-11-30 | $610.0M | $120.7M | +24.67% | +16.11% |
| Q3 2017 | 2017-08-31 | $467.4M | $310.7M | +198.34% | +14.33% |
| Q2 2017 | 2017-05-31 | −$260.3M | −$280.1M | — | −7.98% |
| Q1 2017 | 2017-02-28 | $53.5M | $287.9M | — | +2.29% |
| Q4 2016 | 2016-11-30 | $489.3M | — | — | +14.49% |
| Q3 2016 | 2016-08-31 | $156.7M | $260.7M | — | +5.53% |
| Q2 2016 | 2016-05-31 | $19.7M | — | — | +0.72% |
| Q1 2016 | 2016-02-29 | −$234.3M | — | — | −11.75% |
| Q3 2015 | 2015-08-31 | −$104.1M | — | — | −4.18% |
Lennar free cash flow growth trends
Over the last five reported fiscal years, free cash flow declined from $4.12B to $28.2M, a compound annual decline of 63.10%. Lennar's latest reported quarter, Q2 2026, generated −$303.2M in free cash flow, an increase of $807.0M year over year.
About the metric
What free cash flow means
Free cash flow is the cash a company generates from operations after capital expenditures. Positive FCF can fund dividends, buybacks, debt repayment, or reinvestment; negative FCF means capital spending exceeded operating cash flow for that period.
Calculation and source
How free cash flow is calculated
TickerStat calculates free cash flow as reported operating cash flow minus capital expenditures. FCF margin equals free cash flow divided by revenue. Fiscal periods can differ from calendar years, so the tables include exact period-end dates.
Review Lennar source filings ↗Community posts
Lennar cuts delivery target as quarterly earnings fall
Lennar ($LEN) lowered its fiscal-year home-delivery target to 80,000–81,000 from 82,000–83,000 after a weaker third quarter. Net earnings fell to $284 million, or $1.19 per share, from $591 million, or $2.29 per share, a year earlier. Reven ...
