Lennar Corporation (LEN)
Inventory turnover
| Feb 29, 2024 | Nov 30, 2023 | Aug 31, 2023 | May 31, 2023 | Feb 28, 2023 | Nov 30, 2022 | Aug 31, 2022 | May 31, 2022 | Feb 28, 2022 | Nov 30, 2021 | Aug 31, 2021 | May 31, 2021 | Feb 28, 2021 | Nov 30, 2020 | Aug 31, 2020 | May 31, 2020 | Feb 29, 2020 | Nov 30, 2019 | Aug 31, 2019 | May 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cost of revenue (ttm) | US$ in thousands | 357,412 | 336,923 | 660,725 | 662,138 | 642,593 | 617,901 | 510,816 | 490,201 | 475,711 | 472,581 | 5,547,840 | 10,060,598 | 14,194,941 | 17,740,760 | 18,074,780 | 18,238,500 | 18,537,740 | 18,023,390 | 17,622,690 | 17,465,940 |
| Inventory | US$ in thousands | 19,942,800 | -37,500 | 22,049,500 | 21,686,800 | 21,627,900 | -33,563 | 22,842,500 | 22,089,500 | 20,592,700 | -11,849 | 19,105,900 | 18,419,000 | 17,692,900 | 16,925,200 | 17,671,300 | 17,947,400 | 19,000,500 | 18,093,600 | 19,135,700 | 18,774,500 |
| Inventory turnover | 0.02 | — | 0.03 | 0.03 | 0.03 | — | 0.02 | 0.02 | 0.02 | — | 0.29 | 0.55 | 0.80 | 1.05 | 1.02 | 1.02 | 0.98 | 1.00 | 0.92 | 0.93 |
February 29, 2024 calculation
Inventory turnover = Cost of revenue (ttm) ÷ Inventory
= $357,412K ÷ $19,942,800K
= 0.02
The inventory turnover ratio of Lennar Corporation has shown fluctuations over the past few quarters.
From Nov 30, 2019 to May 31, 2020, there was a consistent increase in inventory turnover, reaching a peak of 1.02 in Feb 28, 2021. This indicates that the company was managing its inventory efficiently and selling goods at a faster rate.
However, from Aug 31, 2021 to Nov 30, 2021, the inventory turnover ratio dropped significantly, reaching a low of 0.29. This suggests that there may have been issues with inventory management or slower sales during this period.
Subsequently, the ratio improved in the following quarters, reaching 0.80 in May 31, 2022, before dropping again to 0.02 in Nov 30, 2022. This fluctuation highlights potential challenges in maintaining consistent inventory turnover.
Overall, the inventory turnover ratio of Lennar Corporation has been volatile, reflecting variations in inventory management effectiveness and sales performance throughout the analyzed period. Further analysis of the company's operational strategies and market conditions may be necessary to understand the underlying factors contributing to these fluctuations.
Peer comparison
Feb 29, 2024
Feb 29, 2024