Lennar vs Toll Brothers
Lennar is the larger business, with $34.19bn of revenue in fiscal 2025 against $10.97bn for Toll Brothers (3.1 times as much). Toll Brothers grew faster (1.1% against -3.5%). Toll Brothers kept more of each dollar of sales as profit: a net margin of 12.3% against 6.1%. Toll Brothers carries less debt relative to equity (3.0% against 26.8%).
| Latest fiscal year | LennarLEN, 2025 | Toll BrothersTOL, 2025 |
|---|---|---|
| Revenue | $34.19bn | $10.97bn |
| Revenue growth | -3.5% | 1.1% |
| Net income | $2.08bn | $1.35bn |
| Operating margin | — | 15.7% |
| Net margin | 6.1% | 12.3% |
| Return on equity | 8.3% | 16.9% |
| Free cash flow | $28.2m | $1.03bn |
| Cash | $3.76bn | $1.26bn |
| Total debt | $5.87bn | $249m |
| Debt to equity | 26.8% | 3.0% |
| Dividend per share | — | $0.98 |
| Dividend yield | 2.3% | 0.7% |
| Share buybacks | $1.81bn | $651m |
| Employees | — | — |
| Market value | $20.53bn | $14.13bn |
| Price vs our value range | Within our value range | Within our value range |
| Moat score | 62 (Moderate) | 65 (Moderate) |
| Insider trades, 12 months | 0 buys, 0 sales | 0 buys, 9 sales |