Lennar Corporation (LEN)
Pretax margin
| Nov 30, 2023 | Nov 30, 2022 | Nov 30, 2021 | Nov 30, 2020 | Nov 30, 2019 | ||
|---|---|---|---|---|---|---|
| Earnings before tax but after interest (EBT) | US$ in thousands | 5,179,520 | 5,980,190 | 5,792,620 | 3,121,270 | 2,441,220 |
| Revenue | US$ in thousands | 34,233,400 | 33,671,000 | 27,130,700 | 22,488,900 | 22,259,600 |
| Pretax margin | 15.13% | 17.76% | 21.35% | 13.88% | 10.97% |
November 30, 2023 calculation
Pretax margin = EBT ÷ Revenue
= $5,179,520K ÷ $34,233,400K
= 15.13%
Lennar Corp.'s pretax margin has shown fluctuations in recent years. The pretax margin represents the proportion of each dollar of revenue that translates into pre-tax profits. From 2019 to 2021, there was an increasing trend, indicating improving profitability before taxes. However, in 2022 and 2023, the pretax margin decreased, suggesting a possible decline in the company's ability to generate profits before taxes from its revenue. These changes may be attributed to various factors, such as changes in the company's cost structure, pricing strategies, or macroeconomic conditions. It would be prudent to further assess Lennar Corp.'s financial and operational performance to understand the drivers behind these fluctuations.
Peer comparison
Nov 30, 2023