--- title: Lennar (LEN) — intrinsic value and fair price canonical: https://sweetvaluelab.com/stocks/len ticker: LEN as_of: 2026-10-17 sector: Consumer Cyclical industry: Residential Construction --- # Lennar (LEN) Lennar (LEN) closed at $77.08 on Oct 16, 2026, undervalued by 67% vs its model value of $234.47 (from a five-year discounted cash flow). ## Key figures | Figure | Value | | --- | ---: | | Last close | $77.08 (Oct 16, 2026) | | Model value (from a five-year discounted cash flow) | $234.47 | | Price vs model | undervalued by 67% vs model | | Range of that model | $162.67 – $438.95 | | Market value | $18.3B | | P/E (fiscal 2025) | 9.7 | | Net margin (fiscal 2025) | 6.1% | | Free cash flow (fiscal 2025) | $28.2M | | Dividend yield (trailing twelve months) | 2.59% | | Beta | 1.38 | | Cost of capital (WACC) | 8.72% | | Business classification | Cyclical (Revenue declining (~-0% recent), Moderate margins (6% net margin), Pays dividends, Highly cyclical earnings) | ## On the stock lists | List | Place | Figure | Page | | --- | ---: | ---: | --- | | Near 52-week lows | #29 | +4.8% | https://sweetvaluelab.com/lists/near-52-week-lows | | Worst performing this year | #48 | −25.0% | https://sweetvaluelab.com/lists/worst-performing-this-year | | Insider buying | #2 | $595.3M | https://sweetvaluelab.com/lists/insider-buying | ## Dividends | Figure | Value | | --- | ---: | | Trailing dividend yield | 2.59% | | Dividends per share, last 12 months | $2.00 | | Dividends / free cash flow (fiscal 2025) | 1848.5% | | Raised | 2 years in a row | | Growth over 5 years | 15.6% a year | | Latest payment | $0.50, ex-date Oct 7, 2026, paid Oct 22, 2026 | | Year of payments | Dividends per share | | --- | ---: | | To Oct 13, 2021 | $0.97 | | To Oct 12, 2022 | $1.45 | | To Oct 11, 2023 | $1.45 | | To Oct 9, 2024 | $1.94 | | To Oct 10, 2025 | $2.00 | | Trailing twelve months (to Oct 7, 2026) | $2.00 | ## Valuation models Each model's value per share and the role the engine gave it for this business. The headline above is one model's value; every other model is listed with its own, and each has a page of its own under the valuation. Computed Oct 17, 2026. | Model | Role | Value per share | Low | High | | --- | --- | ---: | ---: | ---: | | DCF · Perpetuity growth · 5y | primary | $234.47 | $162.67 | $438.95 | | DCF · Perpetuity growth · 10y | cross check | $242.77 | $172.99 | $437.54 | | DCF · EBITDA exit · 5y | cross check | $199.85 | $129.96 | $282.46 | | DCF · EBITDA exit · 10y | cross check | $216.09 | $149.94 | $304.88 | | P/E · peers | cross check | $77.18 | $66.64 | $93.38 | | P/E · own history | cross check | $54.44 | $43.34 | $72.22 | | PEG | sanity check | $38.87 | $38.87 | $38.87 | | EV/EBITDA · peers | cross check | $101.71 | $84.59 | $106.73 | | EV/Revenue · peers | cross check | $126.66 | $102.26 | $167.25 | | Earnings power value | cross check | $152.58 | $128.97 | $186.01 | | Dividend discount | cross check | $43.81 | $31.81 | $59.88 | ## Insider activity (SEC Form 4) Past 90 days: 29 open-market buys ($382.9M) and 0 open-market sales ($0); 10b5-1 plan sales included. | Date | Insider | Relationship | Transaction | Shares | Value | | --- | --- | --- | --- | ---: | ---: | | Oct 2, 2026 | BERKSHIRE HATHAWAY INC, BUFFETT WARREN E | 10% Owner | Open-market buy | 299 | $23,842.3 | | Oct 2, 2026 | BERKSHIRE HATHAWAY INC, BUFFETT WARREN E | 10% Owner | Open-market buy | 5,135 | $404,483.9 | | Oct 2, 2026 | BERKSHIRE HATHAWAY INC, BUFFETT WARREN E | 10% Owner | Open-market buy | 2,452 | $191,084.4 | | Oct 2, 2026 | BERKSHIRE HATHAWAY INC, BUFFETT WARREN E | 10% Owner | Open-market buy | 2,290 | $176,604.8 | | Oct 1, 2026 | BERKSHIRE HATHAWAY INC, BUFFETT WARREN E | 10% Owner | Open-market buy | 100 | $8,000 | ## Recent SEC filings | Filed | Form | What | Filing | | --- | --- | --- | --- | | Oct 15, 2026 | 8-K | 8.01 Other Events; 9.01 Financial Statements and Exhibits | https://www.sec.gov/Archives/edgar/data/920760/000119312526422909/d11207d8k.htm | | Oct 15, 2026 | 424B5 | Prospectus supplement | https://www.sec.gov/Archives/edgar/data/920760/000119312526421862/d184105d424b5.htm | | Oct 2, 2026 | 10-Q | Quarterly report | https://www.sec.gov/Archives/edgar/data/920760/000162828026064557/len-20260831.htm | | Sep 16, 2026 | 8-K | 2.02 Results of Operations (Earnings); 9.01 Financial Statements and Exhibits | https://www.sec.gov/Archives/edgar/data/920760/000162828026062287/len-20260916.htm | | Jun 29, 2026 | 10-Q | Quarterly report | https://www.sec.gov/Archives/edgar/data/920760/000162828026046019/len-20260531.htm | ## Superinvestors holding it (latest 13F) | Manager | Quarter | Shares | Value | | --- | --- | ---: | ---: | | Buffett | 2026-06-30 | 13,111,741 | $1.2B | | Greenhaven | 2026-06-30 | 11,316,279 | $1.0B | | Glenn Greenberg | 2026-06-30 | 2,373,177 | $214.7M | | Bryan Lawrence | 2026-06-30 | 118,000 | $10.7M | 5 tracked managers in all. ## About Lennar Corporation, an influential homebuilder in the United States, operates primarily under its widely recognized Lennar brand, alongside its various subsidiaries. The company structures its diverse business initiatives across several distinct divisions: regional homebuilding segments (East, Central, Texas, and West), a Financial Services arm, a Multifamily property development unit, and a broader "Lennar Other" category. At the heart of its operations, Lennar is deeply involved in the creation and sale of single-family homes, encompassing both attached and detached designs. Its activities also span the acquisition, development, and subsequent sale of land designated for residential use, in addition to the comprehensive development, construction, and ongoing management of rental properties in the multifamily sector. Expanding beyond physical construction, Lennar provides essential serv… --- Source: https://sweetvaluelab.com/stocks/len (SweetValueLab, free, no account). Prices and statements from Financial Modeling Prep; filings from SEC EDGAR. Research and educational data, not investment advice; nothing here is a recommendation to buy, sell or hold any security.