Lennar vs PulteGroup
Lennar is the larger business, with $34.19bn of revenue in fiscal 2025 against $17.31bn for PulteGroup (2.0 times as much). PulteGroup grew faster (-3.5% against -3.5%). PulteGroup kept more of each dollar of sales as profit: a net margin of 12.8% against 6.1%. PulteGroup carries less debt relative to equity (0.3% against 26.8%).
| Latest fiscal year | LennarLEN, 2025 | PulteGroupPHM, 2025 |
|---|---|---|
| Revenue | $34.19bn | $17.31bn |
| Revenue growth | -3.5% | -3.5% |
| Net income | $2.08bn | $2.22bn |
| Operating margin | — | — |
| Net margin | 6.1% | 12.8% |
| Return on equity | 8.3% | 17.7% |
| Free cash flow | $28.2m | $1.75bn |
| Cash | $3.76bn | $1.98bn |
| Total debt | $5.87bn | $43.9m |
| Debt to equity | 26.8% | 0.3% |
| Dividend per share | — | $0.92 |
| Dividend yield | 2.3% | 0.8% |
| Share buybacks | $1.81bn | $1.20bn |
| Employees | — | 6,506 |
| Market value | $20.53bn | $23.85bn |
| Price vs our value range | Within our value range | Within our value range |
| Moat score | 62 (Moderate) | 77 (Strong) |
| Insider trades, 12 months | 0 buys, 0 sales | 0 buys, 8 sales |