Lennar Corporation (LEN)
Interest coverage
| 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 interest and tax (EBIT) (ttm) | US$ in thousands | 5,149,928 | 5,474,528 | 5,430,628 | 5,327,268 | 5,177,871 | 5,135,641 | 5,487,511 | 6,088,351 | 6,110,444 | 5,951,194 | 6,057,124 | 5,506,664 | 6,153,590 | 5,836,560 | 4,863,734 | 4,421,662 | 3,482,201 | 3,203,830 | 3,011,854 | 2,887,338 |
| Interest expense (ttm) | US$ in thousands | 148 | 950 | 376 | -774 | -1,651 | -3,045 | -2,895 | -2,511 | -2,163 | -1,830 | -3,016 | -4,904 | -6,775 | -12,400 | -15,654 | -20,193 | -24,775 | -25,001 | -26,714 | -26,105 |
| Interest coverage | 34,796.81 | 5,762.66 | 14,443.16 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
November 30, 2024 calculation
Interest coverage = EBIT (ttm) ÷ Interest expense (ttm)
= $5,149,928K ÷ $148K
= 34,796.81
Based on the provided data, Lennar Corporation's interest coverage ratio for the period ending May 31, 2024, was 14,443.16. This indicates that the company earned 14,443.16 times more income than the interest expenses it incurred during that period.
However, the interest coverage ratio significantly dropped to 5,762.66 for the period ending August 31, 2024, suggesting a decrease in the company's ability to cover its interest payments with its operating income.
By November 30, 2024, the interest coverage ratio improved to 34,796.81, signifying a strong improvement in the company's ability to meet its interest obligations with its operating income.
The fluctuation in Lennar Corporation's interest coverage ratio over the reported periods indicates changes in its profitability and ability to manage its debt obligations. Further analysis of the company's financial performance and debt structure may be necessary to understand the reasons behind these fluctuations in the interest coverage ratio.
Peer comparison
Nov 30, 2024