Lennar (LEN)
NYSEConsumer DiscretionaryResidential ConstructionSnapshot 2026-11-04
$92.19+7.09%
Close 2026-11-04 · 1-day change
NYSEConsumer DiscretionaryResidential ConstructionSnapshot 2026-11-04
QuarterlyIQ Insights · LEN
What must go right, what could break, what the price assumes, and what evidence comes next.
The current health of the standing investment case.
Recent financial performance sits below its industry cohort — worth keeping an eye on, though it has not freshly broken.
One-year growth currently built into the price, compared with our model's estimate.
| Measure | Marker shape | Value |
|---|---|---|
| Growth built into the price | circle | 13.2% |
| Our one-year growth estimate | diamond | -0.9% |
For each item: what to watch, what would become a concern, and what would make it less concerning.
A reporting-risk estimate, not a forecast of the stock-price response.
Historical relationships that met the evidence threshold. They do not prove cause or forecast a move.
Usually moved in the opposite direction.
Price observations: 365 days
Usually moved in the same direction.
Price observations: 365 days
Most sensitive to the US dollar and the broad stock market.
Based on historical daily prices through 2026-11-04.
Past price behavior in dollars on a $10,000 position. This does not measure permanent business risk.
How much price usually moves either way.
A larger daily loss that occurred about once in every 20 trading days.
Use the underlying financial and sector pages to investigate the cause.
Not investment advice. Scores describe historical and current data; they are not forecasts of future returns. Consult a licensed advisor before making investment decisions.
Growth built into the price is above our model estimate.
The price assumes 14.1 percentage points more one-year growth.
The one-year revenue growth assumption on Valuation.
Model as of 2026-11-04 · Compared with 12 industry peers
LEN — credit agreement
Dated 2026-10-29
Entry into a Material Definitive Agreement. Revolving Credit Facility On October 26, 2026, Lennar Corporation (the “Company”) amended and restated its ninth amended and restated credit agreement, dated as of November 25, 2024, governing the Company’s unsecured revolving credit facility (the “Revolving Credit Facility”) by entering into a tenth amended and restated credit agreement (the “Revolving Credit Agreement”) to, among other things, increase the lenders’ aggregate commitments to $3.795…
Why it matters: Q3 margin was 15.8%, down from 17.5% a year earlier. A Q4 result below guidance would show pressure is still strong.
Worry ifQ4 home gross margin is below 15.5%, the bottom of Lennar's guided range.
Less concerning ifQ4 home gross margin is at least 15.5% and no higher than 16.0%.
Why it matters: Q3 orders fell 9% year over year. Q4 orders will show whether buyer demand holds as rates and home costs weigh on buyers.
Watch forQ4 new orders are at least 20,500 homes, the top of the guided range.
Also watch forQ4 new orders are below 19,500 homes, the bottom of the guided range.
Why it matters: Lennar amended its credit line after reporting $650 million of borrowings. The full terms and future borrowing use will show how much it relies on debt.
Worry ifThe filed credit agreement confirms $3.795 billion in commitments. It shows more borrowing or tighter limits than the prior $3.1 billion facility.
Less concerning ifThe filed agreement confirms the larger commitment, but not higher borrowing. Later reports show revolving debt at or below $650 million.
Deepest peak-to-trough drop in the last year.
| Measure | Value | Meaning |
|---|---|---|
| Typical day | ±$171 on $10,000 · ±1.7% | How much price usually moves either way. |
| Bad day | $395 loss on $10,000 · 4.0% | A larger daily loss that occurred about once in every 20 trading days. |
| Largest peak-to-trough drop in the past year | $4,453 loss on $10,000 · 44.5% | Deepest peak-to-trough drop in the last year. |
Past year. 1.00 means similar movement; 1.20 means about 20% more.
Past year. 1.00 means similar movement to the sector. This is secondary context.
Latest 30 trading days, shown as an annual percentage.
Latest 252 trading days, shown as an annual percentage.
20-trading-day average in US dollars.
Trading days used by the source risk snapshot.
Past results, not a forecast. Not investment advice.