Lennar Corporation (LEN)
Pretax margin
| 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings before tax but after interest (EBT) (ttm) | US$ in thousands | 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 | 2,441,225 | 2,583,868 | 2,467,571 |
| Revenue (ttm) | US$ in thousands | 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 | 22,259,560 | 21,747,240 | 21,562,750 |
| Pretax margin | 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% | 10.97% | 11.88% | 11.44% |
February 29, 2024 calculation
Pretax margin = EBT (ttm) ÷ Revenue (ttm)
= $5,328,039K ÷ $35,055,880K
= 15.20%
The pretax margin of Lennar Corporation has shown some fluctuations over the past few quarters. The pretax margin is a measure of profitability and efficiency, indicating the percentage of each dollar of revenue that is retained as pre-tax profit.
In the most recent quarter as of February 29, 2024, Lennar Corporation recorded a pretax margin of 15.20%, which is similar to the previous quarter's figure of 15.13%. However, these margins are lower compared to the pretax margins seen in the first half of 2023, where figures were above 20%.
The pretax margin peaked at 25.61% in the quarter ended February 28, 2023, indicating strong profitability during that period. Subsequently, the margin decreased gradually before stabilizing around the 15-20% range in the recent quarters.
Overall, Lennar Corporation's pretax margin has demonstrated stability in recent quarters, with some variations seen over the past year. It is important for investors and stakeholders to monitor this metric to assess the company's profitability and operational efficiency over time.
Peer comparison
Feb 29, 2024