Lennar Corporation (LEN)

Return on total capital

Nov 30, 2025 Nov 30, 2024 Nov 30, 2023 Nov 30, 2022 Nov 30, 2021
Earnings before interest and tax (EBIT) US$ in thousands 2,827,740 5,203,680 5,527,710 5,980,190 5,792,620
Long-term debt US$ in thousands — — — — —
Total stockholders’ equity US$ in thousands 21,959,400 27,870,100 26,580,700 24,100,500 20,816,400
Return on total capital 12.88% 18.67% 20.80% 24.81% 27.83%

November 30, 2025 calculation

Return on total capital = EBIT ÷ (Long-term debt + Total stockholders’ equity)
= $2,827,740K ÷ ($—K + $21,959,400K)
= 12.88%