vs
Side-by-side financial comparison of Lennar (LEN) and PG&E Corporation (PCG). Click either name above to swap in a different company.
Lennar is the larger business by last-quarter revenue ($9.4B vs $6.9B, roughly 1.4× PG&E Corporation). PG&E Corporation runs the higher net margin — 12.9% vs 5.2%, a 7.6% gap on every dollar of revenue. On growth, PG&E Corporation posted the faster year-over-year revenue change (15.0% vs -5.8%). Over the past eight quarters, Lennar's revenue compounded faster (13.2% CAGR vs 7.2%).
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.
Pacific Gas and Electric Company (PG&E) is an American investor-owned utility (IOU). The company is headquartered at Kaiser Center, in Oakland, California. PG&E provides natural gas and electricity to 5.2 million households in the northern two-thirds of California, from Bakersfield and northern Santa Barbara County, almost to the Oregon and Nevada state lines.
LEN vs PCG — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $9.4B | $6.9B |
| Net Profit | $490.2M | $885.0M |
| Gross Margin | — | — |
| Operating Margin | 7.3% | 21.4% |
| Net Margin | 5.2% | 12.9% |
| Revenue YoY | -5.8% | 15.0% |
| Net Profit YoY | -55.3% | 39.6% |
| EPS (diluted) | — | $0.39 |
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.
| Q1 26 | — | $6.9B | ||
| Q4 25 | $9.4B | $6.8B | ||
| Q3 25 | $8.8B | $6.3B | ||
| Q2 25 | $8.4B | $5.9B | ||
| Q1 25 | $7.6B | $6.0B | ||
| Q4 24 | $9.9B | $6.6B | ||
| Q3 24 | $9.4B | $5.9B | ||
| Q2 24 | $8.8B | $6.0B |
| Q1 26 | — | $885.0M | ||
| Q4 25 | $490.2M | $670.0M | ||
| Q3 25 | $591.0M | $850.0M | ||
| Q2 25 | $477.4M | $549.0M | ||
| Q1 25 | $519.5M | $634.0M | ||
| Q4 24 | $1.1B | $674.0M | ||
| Q3 24 | $1.2B | $579.0M | ||
| Q2 24 | $954.3M | $524.0M |
| Q1 26 | — | 21.4% | ||
| Q4 25 | 7.3% | 18.0% | ||
| Q3 25 | 9.0% | 19.3% | ||
| Q2 25 | 7.7% | 18.6% | ||
| Q1 25 | 9.1% | 20.4% | ||
| Q4 24 | 14.7% | 15.4% | ||
| Q3 24 | 16.3% | 17.3% | ||
| Q2 24 | 14.4% | 18.9% |
| Q1 26 | — | 12.9% | ||
| Q4 25 | 5.2% | 9.8% | ||
| Q3 25 | 6.7% | 13.6% | ||
| Q2 25 | 5.7% | 9.3% | ||
| Q1 25 | 6.8% | 10.6% | ||
| Q4 24 | 11.0% | 10.2% | ||
| Q3 24 | 12.3% | 9.7% | ||
| Q2 24 | 10.9% | 8.8% |
| Q1 26 | — | $0.39 | ||
| Q4 25 | — | $0.29 | ||
| Q3 25 | $2.29 | $0.37 | ||
| Q2 25 | $1.81 | $0.24 | ||
| Q1 25 | $1.96 | $0.28 | ||
| Q4 24 | $4.03 | $0.30 | ||
| Q3 24 | $4.26 | $0.27 | ||
| Q2 24 | $3.45 | $0.24 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $3.8B | — |
| Total DebtLower is stronger | $5.9B | — |
| Stockholders' EquityBook value | $22.0B | — |
| Total Assets | $34.4B | — |
| Debt / EquityLower = less leverage | 0.27× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $3.8B | $713.0M | ||
| Q3 25 | — | $404.0M | ||
| Q2 25 | — | $494.0M | ||
| Q1 25 | — | $2.0B | ||
| Q4 24 | $4.9B | $940.0M | ||
| Q3 24 | — | $895.0M | ||
| Q2 24 | — | $1.3B |
| Q1 26 | — | — | ||
| Q4 25 | $5.9B | $57.4B | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $4.2B | $53.6B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | — | — | ||
| Q4 25 | $22.0B | $32.5B | ||
| Q3 25 | $22.6B | $32.0B | ||
| Q2 25 | $22.6B | $31.2B | ||
| Q1 25 | $22.7B | $30.7B | ||
| Q4 24 | $27.9B | $30.1B | ||
| Q3 24 | $27.4B | $26.8B | ||
| Q2 24 | $26.9B | $26.3B |
| Q1 26 | — | — | ||
| Q4 25 | $34.4B | $141.6B | ||
| Q3 25 | $34.9B | $138.2B | ||
| Q2 25 | $34.4B | $136.4B | ||
| Q1 25 | $35.0B | $135.4B | ||
| Q4 24 | $41.3B | $133.7B | ||
| Q3 24 | $39.7B | $132.3B | ||
| Q2 24 | $38.7B | $130.8B |
| Q1 26 | — | — | ||
| Q4 25 | 0.27× | 1.76× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.15× | 1.78× | ||
| 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 | | |
|---|---|---|
| Operating Cash FlowLast quarter | $1.8B | — |
| Free Cash FlowOCF − Capex | $1.7B | — |
| FCF MarginFCF / Revenue | 17.9% | — |
| Capex IntensityCapex / Revenue | 0.9% | — |
| Cash ConversionOCF / Net Profit | 3.59× | — |
| TTM Free Cash FlowTrailing 4 quarters | $28.2M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $1.8B | $2.0B | ||
| Q3 25 | $-158.6M | $2.9B | ||
| Q2 25 | $-1.1B | $1.1B | ||
| Q1 25 | $-289.0M | $2.8B | ||
| Q4 24 | $974.5M | $1.9B | ||
| Q3 24 | $819.2M | $3.1B | ||
| Q2 24 | $241.8M | $711.0M |
| Q1 26 | — | — | ||
| Q4 25 | $1.7B | $-1.2B | ||
| Q3 25 | $-190.8M | $-80.0M | ||
| Q2 25 | $-1.1B | $-2.0B | ||
| Q1 25 | $-345.1M | $213.0M | ||
| Q4 24 | $933.1M | $-896.0M | ||
| Q3 24 | $800.8M | $526.0M | ||
| Q2 24 | $203.0M | $-1.6B |
| Q1 26 | — | — | ||
| Q4 25 | 17.9% | -17.6% | ||
| Q3 25 | -2.2% | -1.3% | ||
| Q2 25 | -13.3% | -34.0% | ||
| Q1 25 | -4.5% | 3.6% | ||
| Q4 24 | 9.4% | -13.5% | ||
| Q3 24 | 8.5% | 8.9% | ||
| Q2 24 | 2.3% | -26.5% |
| Q1 26 | — | — | ||
| Q4 25 | 0.9% | 46.4% | ||
| Q3 25 | 0.4% | 46.9% | ||
| Q2 25 | 0.2% | 52.0% | ||
| Q1 25 | 0.7% | 44.0% | ||
| Q4 24 | 0.4% | 42.6% | ||
| Q3 24 | 0.2% | 43.8% | ||
| Q2 24 | 0.4% | 38.4% |
| Q1 26 | — | — | ||
| Q4 25 | 3.59× | 2.93× | ||
| Q3 25 | -0.27× | 3.35× | ||
| Q2 25 | -2.29× | 1.93× | ||
| Q1 25 | -0.56× | 4.49× | ||
| Q4 24 | 0.89× | 2.87× | ||
| Q3 24 | 0.70× | 5.41× | ||
| Q2 24 | 0.25× | 1.36× |
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% |
PCG
| Electric | $5.0B | 72% |
| Other | $1.9B | 28% |
