Lennar Corp Class A

LEN: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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Lennar's Margins Should Improve From the Currently Depressed Levels; Shares Are Cheap

Suryansh Sharma

Jul 21, 2026

Business Strategy and Outlook

Lennar is the second-largest homebuilder in the United States by number of homes delivered, following D.R. Horton. The company operates in 30 states and primarily constructs single-family homes. It caters to a diverse range of homebuyers, including first-time buyers, those looking to move up, active adults, and luxury buyers, and has recently introduced differentiated offerings such as Next Gen and Everything’s Included.

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We sell different types of products and services to both investment professionals and individual investors. These products and services are usually sold through license agreements or subscriptions. Our investment management business generates asset-based fees, which are calculated as a percentage of assets under management. We also sell both admissions and sponsorship packages for our investment conferences and advertising on our websites and newsletters.

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Lennar Corp Class A

Lennar's Margins Should Improve From the Currently Depressed Levels; Shares Are Cheap

Business Strategy and Outlook

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