Company Valuation: Lennar Corporation

Data adjusted to current consolidation scope
Fiscal Period: November 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 31,785 25,019 35,924 46,992 32,193 18,953 - -
Change - -21.29% 43.59% 30.81% -31.49% -41.13% - -
Enterprise Value (EV) 1 33,680 24,450 32,467 44,588 32,836 22,598 24,373 23,684
Change - -27.4% 32.79% 37.33% -26.36% -31.18% 7.86% -2.83%
P/E 7.36x 5.59x 9.32x 12.2x 16.5x 16.4x 14.9x 11.6x
PBR 1.55x 1.06x 1.36x 1.7x 1.48x 0.95x 0.92x 0.84x
PEG - 0.6x -0.7x 2.89x -0.4x -0.4x 1.4x 0.4x
Capitalization / Revenue 1.17x 0.74x 1.05x 1.33x 0.94x 0.6x 0.58x 0.54x
EV / Revenue 1.24x 0.73x 0.95x 1.26x 0.96x 0.72x 0.75x 0.68x
EV / EBITDA 6.05x 3.48x 5.8x 8.23x 10.5x 11.2x 11.3x 8.2x
EV / EBIT 6.15x 3.52x 5.92x 8.41x 11x 12.1x 11.9x 8.88x
EV / FCF - - - - - - 31,271,460x -
FCF Yield - - - - - - 0% -
Dividend per Share 2 2 1.5 1.5 2 2 2.003 2.05 2.082
Rate of return 1.9% 1.71% 1.17% 1.15% 1.52% 2.51% 2.57% 2.61%
EPS 2 14.27 15.72 13.73 14.31 7.98 4.853 5.36 6.891
Distribution rate 14% 9.54% 10.9% 14% 25.1% 41.3% 38.2% 30.2%
Net sales 1 27,131 33,671 34,233 35,441 34,187 31,525 32,460 34,843
EBITDA 1 5,563 7,035 5,598 5,420 3,119 2,022 2,162 2,889
EBIT 1 5,477 6,948 5,488 5,305 2,985 1,870 2,042 2,668
Net income 1 4,430 4,614 3,939 3,933 2,078 1,173 1,223 1,536
Net Debt 1 1,895 -568.8 -3,457 -2,404 643.4 3,644 5,420 4,731
Reference price 2 105.05 87.83 127.92 174.39 131.30 79.81 79.81 79.81
Nbr of stocks (in thousands) 309,473 291,167 284,355 271,245 247,016 237,900 - -
Announcement Date 12/15/21 A 12/14/22 A 12/14/23 A 12/18/24 A 12/16/25 A - - -
1USD in Million2USD
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
16.44x0.72x11.17x2.51% 18.95B
12.95x1.24x9.57x1.33% 37.76B
11.46x1.33x7.98x0.89% 21.69B
9.66x0.91x8.57x4.18% 16.84B
16.71x1.71x11.79x-.--% 15.97B
9.51x0.8x8.65x4.38% 13.61B
10.74x1.28x7.75x0.75% 12.59B
12.8x0.79x6.33x3.28% 6.4B
14.85x0.62x6.22x1.84% 5.86B
Average 12.79x 1.04x 8.67x 2.13% 16.63B
Weighted average by Cap. 12.78x 1.12x 9.16x 1.93%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA



Year-on-year evolution of the Yield

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