Lennar Corporation (LEN)
Cash ratio
| 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash and cash equivalents | US$ in thousands | 5,261,470 | 6,570,940 | 4,124,030 | 4,315,840 | 4,274,160 | 4,815,770 | 1,551,330 | 1,553,410 | 1,605,570 | 2,955,680 | 2,779,140 | 2,737,580 | 2,568,800 | 2,863,040 | 2,209,130 | 1,641,920 | 1,052,480 | 1,446,000 | 1,069,860 | 1,021,070 |
| Short-term investments | US$ in thousands | 38,315 | 37,953 | 37,114 | 36,906 | 36,332 | 35,482 | 35,163 | 34,822 | 34,760 | 41,654 | 41,695 | 41,563 | 41,247 | 53,497 | 53,770 | 745,894 | 61,324 | 3,732 | 3,597 | 3,356 |
| Total current liabilities | US$ in thousands | 6,207,900 | 1,631,400 | 1,721,530 | 1,700,900 | 1,490,810 | 1,616,130 | 1,552,580 | 1,555,280 | 1,321,150 | 1,321,250 | 1,230,580 | 1,171,360 | 1,037,270 | 1,037,340 | 1,140,340 | 1,033,560 | 1,180,710 | 1,069,180 | 1,092,710 | 1,243,640 |
| Cash ratio | 0.85 | 4.05 | 2.42 | 2.56 | 2.89 | 3.00 | 1.02 | 1.02 | 1.24 | 2.27 | 2.29 | 2.37 | 2.52 | 2.81 | 1.98 | 2.31 | 0.94 | 1.36 | 0.98 | 0.82 |
February 29, 2024 calculation
Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($5,261,470K
+ $38,315K)
÷ $6,207,900K
= 0.85
The cash ratio for Lennar Corporation has shown significant fluctuations over the past several quarters. The cash ratio measures the company's ability to cover its short-term liabilities with its cash and cash equivalents.
In the most recent quarter, as of February 29, 2024, the cash ratio stands at 0.85, indicating that Lennar Corporation may have limited liquid cash available to cover its short-term obligations. This could raise concerns about the company's liquidity position in the short term.
Looking back at previous quarters, the cash ratio has ranged from a low of 0.82 in November 2019 to a high of 4.05 in November 2023. The substantial increase in the cash ratio in November 2023 suggests that Lennar had significantly more cash on hand to meet its short-term commitments compared to other periods.
Overall, the fluctuating cash ratio of Lennar Corporation indicates varying levels of liquidity and ability to cover short-term obligations. It is essential for investors and analysts to closely monitor these ratios to assess the company's financial health and liquidity position.
Peer comparison
Feb 29, 2024