How do Lennar and Lockheed Martin compare by revenue?

Lennar reported revenue of $9.4B in Q4 FY2025, while Lockheed Martin reported $18.0B in Q1 FY2026. Lockheed Martin is 1.9× larger by last-quarter revenue.

Which is growing revenue faster, Lennar or Lockheed Martin?

Lennar's latest revenue grew -5.8% year-over-year, versus 0.3% for Lockheed Martin. Lockheed Martin is growing faster on a YoY basis.

Which has a higher net margin, Lennar or Lockheed Martin?

Lennar's net margin is 5.2% vs Lockheed Martin's 8.3%. Lockheed Martin has the higher bottom-line margin.

Which generates more free cash flow, Lennar or Lockheed Martin?

Lennar generated $1.7B of free cash flow last quarter, versus $-291.0M for Lockheed Martin. Free cash flow is operating cash flow minus capital expenditure — what's actually left for dividends, buybacks and debt repayment.

What is the 2-year revenue CAGR for Lennar vs Lockheed Martin?

Over the trailing 8 quarters, Lennar compounded revenue at roughly 13.2% per year, versus -0.3% for Lockheed Martin. Lennar has the faster medium-term growth trajectory.

Where does this LEN vs LMT data come from?

All figures are parsed directly from SEC EDGAR 10-Q / 10-K / 20-F / 6-K filings (for US-listed issuers) or EDINET filings (for Japanese issuers), then normalised into a common schema. Numbers update automatically as new filings are released.

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Side-by-side financial comparison of Lennar (LEN) and Lockheed Martin (LMT). Click either name above to swap in a different company.

Lockheed Martin is the larger business by last-quarter revenue ($18.0B vs $9.4B, roughly 1.9× Lennar). Lockheed Martin runs the higher net margin — 8.3% vs 5.2%, a 3.0% gap on every dollar of revenue. On growth, Lockheed Martin posted the faster year-over-year revenue change (0.3% vs -5.8%). Lennar produced more free cash flow last quarter ($1.7B vs $-291.0M). Over the past eight quarters, Lennar's revenue compounded faster (13.2% CAGR vs -0.3%).

LennarLENEarnings & Financial Report

NYSE · Consumer Discretionary · Homebuilding

Lennar Corporation is an American home construction company based in Miami-Dade County, Florida. As of 2025, it is the second-largest home construction company in the United States based on the number of homes sold. Lennar has investments in multifamily and single-family residential rental properties, luxury development, property technology with LenX, and mortgage lending from Lennar Mortgage.

Lockheed MartinLMTEarnings & Financial Report

NYSE · Industrials · Aerospace & Defense

The Lockheed Martin Corporation is an American defense and aerospace manufacturer. It is headquartered in North Bethesda, Maryland, United States. The company was formed by the merger of Lockheed Corporation with Martin Marietta on March 15, 1995.

LEN vs LMT — Head-to-Head

Bigger by revenue

LMT

1.9× larger

$18.0B

$9.4B

Growing faster (revenue YoY)

LMT

+6.1% gap

0.3%

-5.8%

Higher net margin

LMT

3.0% more per $

8.3%

5.2%

More free cash flow

LEN

$2.0B more FCF

$1.7B

$-291.0M

Faster 2-yr revenue CAGR

LEN

Annualised

13.2%

-0.3%

Income Statement — Q4 FY2025 vs Q1 FY2026

Metric	LEN	LMT
Revenue	$9.4B	$18.0B
Net Profit	$490.2M	$1.5B
Gross Margin	—	11.5%
Operating Margin	7.3%	3.4%
Net Margin	5.2%	8.3%
Revenue YoY	-5.8%	0.3%
Net Profit YoY	-55.3%	-13.1%
EPS (diluted)	—	$6.44

Green = leading value per metric. Periods may differ when fiscal calendars don't align.

8-Quarter Revenue & Profit Trend

Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.

Revenue

LEN

LMT

Q1 26	—	$18.0B
Q4 25	$9.4B	$20.3B
Q3 25	$8.8B	$18.6B
Q2 25	$8.4B	$18.2B
Q1 25	$7.6B	$18.0B
Q4 24	$9.9B	$18.6B
Q3 24	$9.4B	$17.1B
Q2 24	$8.8B	$18.1B

Net Profit

LEN

LMT

Q1 26	—	$1.5B
Q4 25	$490.2M	$1.3B
Q3 25	$591.0M	$1.6B
Q2 25	$477.4M	$342.0M
Q1 25	$519.5M	$1.7B
Q4 24	$1.1B	$527.0M
Q3 24	$1.2B	$1.6B
Q2 24	$954.3M	$1.6B

Gross Margin

LEN

LMT

Q1 26	—	11.5%
Q4 25	—	11.4%
Q3 25	—	12.0%
Q2 25	—	4.0%
Q1 25	—	12.9%
Q4 24	—	3.7%
Q3 24	—	12.4%
Q2 24	—	11.8%

Operating Margin

LEN

LMT

Q1 26	—	3.4%
Q4 25	7.3%	11.5%
Q3 25	9.0%	12.3%
Q2 25	7.7%	4.1%
Q1 25	9.1%	13.2%
Q4 24	14.7%	3.7%
Q3 24	16.3%	12.5%
Q2 24	14.4%	11.9%

Net Margin

LEN

LMT

Q1 26	—	8.3%
Q4 25	5.2%	6.6%
Q3 25	6.7%	8.7%
Q2 25	5.7%	1.9%
Q1 25	6.8%	9.5%
Q4 24	11.0%	2.8%
Q3 24	12.3%	9.5%
Q2 24	10.9%	9.1%

EPS (diluted)

LEN

LMT

Q1 26	—	$6.44
Q4 25	—	$5.80
Q3 25	$2.29	$6.95
Q2 25	$1.81	$1.46
Q1 25	$1.96	$7.28
Q4 24	$4.03	$2.27
Q3 24	$4.26	$6.80
Q2 24	$3.45	$6.85

Balance Sheet & Financial Strength

Snapshot of each company's liquidity, leverage and book value from the latest quarter.

Metric	LEN	LMT
Cash + ST InvestmentsLiquidity on hand	$3.8B	$1.9B
Total DebtLower is stronger	$5.9B	$168.0M
Stockholders' EquityBook value	$22.0B	$7.5B
Total Assets	$34.4B	$59.2B
Debt / EquityLower = less leverage	0.27×	0.02×

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments

LEN

LMT

Q1 26	—	$1.9B
Q4 25	$3.8B	$4.1B
Q3 25	—	$3.5B
Q2 25	—	$1.3B
Q1 25	—	$1.8B
Q4 24	$4.9B	$2.5B
Q3 24	—	$3.2B
Q2 24	—	$2.5B

Total Debt

LEN

LMT

Q1 26	—	$168.0M
Q4 25	$5.9B	$21.7B
Q3 25	—	—
Q2 25	—	—
Q1 25	—	—
Q4 24	$4.2B	$20.3B
Q3 24	—	—
Q2 24	—	—

Stockholders' Equity

LEN

LMT

Q1 26	—	$7.5B
Q4 25	$22.0B	$6.7B
Q3 25	$22.6B	$6.2B
Q2 25	$22.6B	$5.3B
Q1 25	$22.7B	$6.7B
Q4 24	$27.9B	$6.3B
Q3 24	$27.4B	$7.2B
Q2 24	$26.9B	$6.2B

Total Assets

LEN

LMT

Q1 26	—	$59.2B
Q4 25	$34.4B	$59.8B
Q3 25	$34.9B	$60.3B
Q2 25	$34.4B	$58.9B
Q1 25	$35.0B	$56.7B
Q4 24	$41.3B	$55.6B
Q3 24	$39.7B	$55.5B
Q2 24	$38.7B	$55.1B

Debt / Equity

LEN

LMT

Q1 26	—	0.02×
Q4 25	0.27×	3.23×
Q3 25	—	—
Q2 25	—	—
Q1 25	—	—
Q4 24	0.15×	3.20×
Q3 24	—	—
Q2 24	—	—

Cash Flow & Capital Efficiency

How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.

Metric	LEN	LMT
Operating Cash FlowLast quarter	$1.8B	$220.0M
Free Cash FlowOCF − Capex	$1.7B	$-291.0M
FCF MarginFCF / Revenue	17.9%	-1.6%
Capex IntensityCapex / Revenue	0.9%	2.8%
Cash ConversionOCF / Net Profit	3.59×	0.15×
TTM Free Cash FlowTrailing 4 quarters	$28.2M	$5.7B

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow

LEN

LMT

Q1 26	—	$220.0M
Q4 25	$1.8B	$3.2B
Q3 25	$-158.6M	$3.7B
Q2 25	$-1.1B	$201.0M
Q1 25	$-289.0M	$1.4B
Q4 24	$974.5M	$1.0B
Q3 24	$819.2M	$2.4B
Q2 24	$241.8M	$1.9B

Free Cash Flow

LEN

LMT

Q1 26	—	$-291.0M
Q4 25	$1.7B	$2.8B
Q3 25	$-190.8M	$3.3B
Q2 25	$-1.1B	$-150.0M
Q1 25	$-345.1M	$955.0M
Q4 24	$933.1M	$441.0M
Q3 24	$800.8M	$2.1B
Q2 24	$203.0M	$1.5B

FCF Margin

LEN

LMT

Q1 26	—	-1.6%
Q4 25	17.9%	13.6%
Q3 25	-2.2%	18.0%
Q2 25	-13.3%	-0.8%
Q1 25	-4.5%	5.3%
Q4 24	9.4%	2.4%
Q3 24	8.5%	12.2%
Q2 24	2.3%	8.3%

Capex Intensity

LEN

LMT

Q1 26	—	2.8%
Q4 25	0.9%	2.3%
Q3 25	0.4%	2.0%
Q2 25	0.2%	1.9%
Q1 25	0.7%	2.5%
Q4 24	0.4%	3.1%
Q3 24	0.2%	2.1%
Q2 24	0.4%	2.0%

Cash Conversion

LEN

LMT

Q1 26	—	0.15×
Q4 25	3.59×	2.40×
Q3 25	-0.27×	2.30×
Q2 25	-2.29×	0.59×
Q1 25	-0.56×	0.82×
Q4 24	0.89×	1.94×
Q3 24	0.70×	1.50×
Q2 24	0.25×	1.14×

Financial Flow Comparison

Revenue → gross profit → operating profit → net profit for each company.

Revenue Breakdown by Segment

LEN

Lennar Homebuilding East Central West Houstonand Other	$8.9B	95%
Lennar Financial Services	$308.8M	3%
Lennar Multifamily	$158.7M	2%
Lennar Other	$14.8M	0%
Homebuilding Other Regions	$3.9M	0%