Lennar Corporation (LEN)
Pretax margin
| Nov 30, 2024 | Aug 31, 2024 | May 31, 2024 | 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings before tax but after interest (EBT) (ttm) | US$ in thousands | 5,149,779 | 5,473,579 | 5,430,249 | 5,328,039 | 5,179,519 | 5,138,679 | 5,490,399 | 6,090,859 | 5,980,181 | 5,820,601 | 5,813,701 | 5,152,151 | 5,792,620 | 5,371,470 | 4,415,558 | 4,001,963 | 3,121,274 | 2,856,581 | 2,668,279 | 2,552,396 |
| Revenue (ttm) | US$ in thousands | 35,441,450 | 36,462,760 | 35,776,320 | 35,055,880 | 34,233,380 | 23,265,225 | 23,470,055 | 23,783,605 | 23,496,695 | 31,930,210 | 29,937,180 | 28,008,720 | 27,130,670 | 25,523,000 | 24,451,850 | 23,308,980 | 22,488,850 | 22,634,490 | 22,621,300 | 22,896,820 |
| Pretax margin | 14.53% | 15.01% | 15.18% | 15.20% | 15.13% | 22.09% | 23.39% | 25.61% | 25.45% | 18.23% | 19.42% | 18.39% | 21.35% | 21.05% | 18.06% | 17.17% | 13.88% | 12.62% | 11.80% | 11.15% |
November 30, 2024 calculation
Pretax margin = EBT (ttm) ÷ Revenue (ttm)
= $5,149,779K ÷ $35,441,450K
= 14.53%
The pretax margin of Lennar Corporation has exhibited fluctuating trends over the period from February 29, 2020, to November 30, 2024. Starting at 11.15% in February 2020, the pretax margin experienced a gradual increase, reaching a peak of 25.61% in February 2023. Subsequently, the margin exhibited a declining trend, falling to 14.53% by November 2024.
During this period, there were notable peaks in performance in August 2021 and November 2022, where the pretax margin rose to 21.05% and 25.45% respectively. On the other hand, there were periods of relative stability, such as in May 2023 where the margin remained around 23.39%.
The pretax margin serves as a key indicator of the company's operational efficiency and profitability before accounting for taxes. The fluctuations observed in Lennar Corporation's pretax margin suggest varying levels of profitability and cost management over the analyzed period. Further analysis and comparison with industry peers may provide insights into the underlying factors driving these fluctuations.
Peer comparison
Nov 30, 2024