Lennar Corporation (L1EN34) fair value: what the stock is really worth
As of Oct 2, 2026: fair value of Lennar Corporation BRL 42.08, price BRL 51.79, upside -18.8%, quality 62 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 29, 2026.
How to read this chart
60‑month range R$27.22 – R$97.53 · fair‑value band R$25.44 – R$65.62 · the R$51.79 price screens above the R$42.08 fair value. Dashed = 300-day average. As of Sep 29, 2026.
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Lennar Corporation, together with its subsidiaries, operates as a homebuilder primarily under the Lennar brand in the United States. It operates through Homebuilding East, Homebuilding Central, Homebuilding South Central, Homebuilding West, Financial Services, Multifamily, and Lennar Other segments.
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Lennar Corporation, together with its subsidiaries, operates as a homebuilder primarily under the Lennar brand in the United States. It operates through Homebuilding East, Homebuilding Central, Homebuilding South Central, Homebuilding West, Financial Services, Multifamily, and Lennar Other segments. The company's homebuilding operations include the construction and sale of single-family attached and detached homes, as well as the purchase, development, and sale of residential land; and development, construction, and management of multifamily rental properties. It also offers residential mortgage financing, title insurance, and closing services for home buyers and others, as well as originating and selling securitization commercial mortgage loans. In addition, the company is involved in fund investment activities. It primarily serves first-time, move-up, active adult, and luxury homebuyers. The company was founded in 1954 and is based in Miami, Florida.
Stock analysis
Lennar Corporation (L1EN34) currently trades at R$51.79, while our model-based Fair Value estimate is R$42.08, 18.8% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of R$101.70 per share, and 14 of the 24 models we run sit above the R$51.79 price.
Bear case: the Dividend Discount group reads lowest at R$19.53, and 10 of the 24 models stay below the price. Evidence for this calculation is medium.
Scenario range: R$25.44 (bear) to R$65.62 (bull), the price of R$51.79 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 62/100 (solid quality), in the Consumer Cyclical sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Lennar Corporation reported revenue of $34.2B in FY2025 versus $27.1B in FY2021, a compound +5.9%/yr. Reported net income was $2.1B in FY2025, compounding −17.2%/yr from FY2021.
Key figures
Market cap R$113B (≈ $21.7B) · P/E ratio 14.2 · P/S ratio 0.87 · EPS (TTM) R$33.05 · Dividend yield 0.4% · Net margin 6.1% · Return on equity 7.4% · Return on assets (EBIT) 13.1%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 38 out of 100 (low confidence).
What moves the price
The share trades about 35% below its 52-week high and 5% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Consumer Cyclical peers we cover trades at 60% fair-value upside, at −19%, L1EN34 screens richer than that median.
Fair Value models
Bear R$25.44Fair Value R$42.08Bull R$65.62
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then (R$26.12 per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.52/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
−3.5%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+0.5%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+8.7%
Start year 2020 (pandemic)
Revenue growth 6 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+7.4%
’19
’20
’21
’22
’23
’24
’25
What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate.
+1.1%
Earnings growth per share plus dividend.
Earnings per share, growth per year+0.7%
Dividend (yield on the price)0.4%
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.14% → 8%
Growth Forecast
A lot of optimism in the price
The price assumes more growth than the company has delivered so far and more than analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+55.3%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+2.5%
Yearly sales growth analysts expect, extended to five years.
After inflation (figures in USD, USA: IMF forecast 2.4% a year to 2030, 3.1% from 2016 to 2025) that is about +51.6% a year for the price and +0.1% for the forecasts.
News mood ⓘNews mood, the average tone of recent news (99 articles), rated against how stocks are usually covered. 🚀 Hype = unusually upbeat · 🙂 Positive = above average · 😐 Neutral = typical · 🙁 Negative = below average · 😨 Very negative = unusually downbeat. It reflects the tone of coverage, not our valuation.Neutral
Recent news coverage is roughly neutral, about typical for how stocks are covered.
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Residential Construction · 61 stocks
Beats the industry median on 4/11 measures
Overall it trails its industry peers.
Valuation
Quality Score62 · Above median
Fair Value upside+54.5% · Above median
Profitability
Return on equity (TTM)7.4% · Below median
Return on assets3.9% · Above median
Net margin (TTM)4.9% · Below median
Operating margin (TTM)5.3% · Below median
Growth and dividend
Revenue growth−5.2% · Below median
Dividend yield (TTM)0.4% · Bottom 25%
Balance sheet
Debt / equity0.19× · Below median
Valuation Multiplesvs Residential Construction median · lower = cheaper
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Cite: Fair Value Calculator (2026). "Lennar Corporation Fair Value". https://www.fairvalue-calculator.com/stock/L1EN34
Frequently asked questions
Is Lennar Corporation (L1EN34) overvalued or undervalued?
As of Sep 29, 2026, our model estimates a fair value of R$42.08 versus a price of R$51.79, about −19% upside (overvalued).
What is the fair value of L1EN34?
Our model-based fair value for Lennar Corporation is R$42.08 (as of Sep 29, 2026), built from audited fundamentals. The current price: R$51.79.
What is the quality score of L1EN34?
Lennar Corporation has a Quality Score of 62/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Lennar Corporation (L1EN34)?
Our model-based price target is the fair value of R$42.08 (as of Sep 29, 2026) from 24 valuation models. Cautious scenario R$25.44, optimistic scenario R$65.62. It is a calculation from audited fundamentals, not an analyst target.
What is the Lennar Corporation stock forecast for 2026?
Our models put fair value at R$42.08, about −19% upside versus a price of R$51.79 (overvalued). Cautious scenario R$25.44, optimistic scenario R$65.62. The calculation is refreshed regularly with new filings.
What is the revenue of Lennar Corporation (L1EN34)?
Lennar Corporation reported trailing-twelve-month revenue of about $32.7B (latest available figure, as of Sep 29, 2026).
Does Lennar Corporation pay a dividend?
Lennar Corporation currently shows a dividend yield of about 0.43% relative to its recent price (as of Sep 29, 2026).
What growth is priced into Lennar Corporation (L1EN34)?
For today's price to be fair in a discounted-cash-flow model, Lennar Corporation would have to grow free cash flow by +55.3 % per year for five years (discount rate 13.5 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +8.7 % per year. As of Sep 29, 2026.
What discount rate (WACC) does the fair value of L1EN34 use?
Our models discount Lennar Corporation at 13.5 %: a base by market capitalisation (large), damped by beta 1.39, country premium for Brazil. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Lennar Corporation that is +55.3 % per year a year over ten years, using the same discount rate (13.5 %) and the same formula as our fair value.
How much growth has Lennar Corporation (L1EN34) delivered so far?
Over the past 5 years revenue at Lennar Corporation grew +8.7 % a year. The price currently implies +55.3 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Lennar Corporation (L1EN34) growing?
The median revenue growth in the sector is +3.8 % a year. That is the yardstick for the growth priced into Lennar Corporation (+55.3 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Lennar Corporation (L1EN34)?
The free-cash-flow yield on the price is 1.11 %: that much free cash flow Lennar Corporation produces per unit of market value. When it exceeds the discount rate of our models (13.5 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Lennar Corporation (L1EN34)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Lennar Corporation it is R$42.08 per share (as of Sep 29, 2026), against a price of R$51.79. It is the blended result of 24 valuation models (cash flow, earnings, asset, dividend).
Is Lennar Corporation stock overvalued or undervalued in 2026?
As of Sep 29, 2026, L1EN34 trades above its calculated fair value: price R$51.79, fair value R$42.08, a gap of about −19% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of L1EN34?
No. The price is what the market pays today (R$51.79); the fair value is what the company's own numbers justify (R$42.08). For Lennar Corporation the two are R$9.71 per share apart. That gap is exactly why we show both numbers side by side.
How much is Lennar Corporation worth?
The market values Lennar Corporation at about R$113B (market capitalisation, as of Sep 29, 2026). Per share that is R$51.79; our models calculate a fair value of R$42.08 per share.
What do the bullish and bearish scenarios say about L1EN34?
Our models span a range for Lennar Corporation: cautious scenario R$25.44, base R$42.08, optimistic R$65.62 per share (as of Sep 29, 2026, price R$51.79). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of L1EN34?
Lennar Corporation trades at a price-to-earnings ratio of 14.2 (as of Sep 29, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of R$42.08 is built from several models across several years. Other multiples: PEG 12.6.
What is the PEG ratio of L1EN34?
The PEG ratio of Lennar Corporation is 12.59 (P/E divided by earnings growth, as of Sep 29, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of Lennar Corporation (L1EN34)?
Balance-sheet figures for Lennar Corporation (as of Sep 29, 2026): return on equity 7.4%, debt of 0.19 per unit of equity. They feed the Quality Score of 62/100, which measures business quality independently of the share price.
How far is L1EN34 from its 52-week high?
Lennar Corporation trades at R$51.79, about 35% below its 52-week high of R$79.21 and 5% above the low of R$49.48 (as of Oct 2, 2026). Distance from the high says nothing about value: that is what the fair value of R$42.08 is for.
Which stocks are comparable to Lennar Corporation?
From the same area (Consumer Cyclical) we also value D.R. Horton, Inc, PulteGroup, Inc, NVR, Inc, Toll Brothers, Inc, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Lennar Corporation stock attractive at the current price?
The data as of Sep 29, 2026: price R$51.79, calculated fair value R$42.08 (−19%), Quality Score 62/100, from 24 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of L1EN34 calculated?
We run Lennar Corporation through 24 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of R$42.08, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.5 % above its aggregate fair value. Lennar Corporation itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Lennar Corporation (L1EN34)?
The closing price on Oct 2, 2026 was R$51.79. Our model-based fair value is R$42.08, about −19% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Lennar Corporation right now?
Solid but not exceptional quality (62/100) and above fair value, neither a clear bargain nor a standout compounder. A fairly wide model range (R$25.44 to R$65.62) leaves room in how you read the outcome.
Key figures of Lennar Corporation
How large is the market capitalisation of Lennar Corporation (L1EN34)?
The market capitalisation of Lennar Corporation is R$113B (≈ $21.7B). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Lennar Corporation (L1EN34)?
The price-to-sales ratio of Lennar Corporation is 0.87 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Lennar Corporation (L1EN34)?
Earnings per share at Lennar Corporation are R$33.05 (price ÷ EPS = P/E 14.2). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Lennar Corporation (L1EN34)?
The dividend yield of Lennar Corporation is 0.4% (payout 0.7%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Lennar Corporation (L1EN34)?
The net margin of Lennar Corporation is 6.1% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Lennar Corporation (L1EN34)?
The return on equity (ROE) of Lennar Corporation is 7.4% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Lennar Corporation (L1EN34)?
On an EBIT basis the return on assets of Lennar Corporation is 13.1% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Lennar Corporation (L1EN34)?
The operating margin of Lennar Corporation is 5.3% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Lennar Corporation (L1EN34)?
Revenue at Lennar Corporation is growing −5.2% versus a year earlier (3y avg +0.5%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Lennar Corporation (L1EN34)?
Earnings per share at Lennar Corporation are growing −31.5% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Lennar Corporation (L1EN34) carry?
The net debt of Lennar Corporation is $2.1B (fiscal year 2025, ≈ 75.2 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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