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Side-by-side financial comparison of Lennar (LEN) and Principal Financial Group (PFG). Click either name above to swap in a different company.
Lennar is the larger business by last-quarter revenue ($6.6B vs $4.6B, roughly 1.4× Principal Financial Group). Principal Financial Group runs the higher net margin — 11.3% vs 3.5%, a 7.8% gap on every dollar of revenue. On growth, Principal Financial Group posted the faster year-over-year revenue change (-3.7% vs -13.3%). Over the past eight quarters, Principal Financial Group's revenue compounded faster (6.3% CAGR vs -13.1%).
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.
Principal Financial GroupPFGEarnings & Financial Report
Principal Financial Group, Inc. (PFG) is an American global financial investment management and insurance company headquartered in Des Moines, Iowa, United States.
LEN vs PFG — Head-to-Head
Income Statement — Q2 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $6.6B | $4.6B |
| Net Profit | $229.4M | $517.0M |
| Gross Margin | — | — |
| Operating Margin | — | — |
| Net Margin | 3.5% | 11.3% |
| Revenue YoY | -13.3% | -3.7% |
| Net Profit YoY | -55.8% | -42.9% |
| EPS (diluted) | $0.93 | $2.30 |
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 | $6.6B | — | ||
| Q4 25 | $9.4B | $4.6B | ||
| Q3 25 | $8.8B | $3.7B | ||
| Q2 25 | $8.4B | $3.7B | ||
| Q1 25 | $7.6B | $3.7B | ||
| Q4 24 | $9.9B | $4.8B | ||
| Q3 24 | $9.4B | $3.0B | ||
| Q2 24 | $8.8B | $4.3B |
| Q1 26 | $229.4M | — | ||
| Q4 25 | $490.2M | $517.0M | ||
| Q3 25 | $591.0M | $213.8M | ||
| Q2 25 | $477.4M | $406.2M | ||
| Q1 25 | $519.5M | $48.1M | ||
| Q4 24 | $1.1B | $905.4M | ||
| Q3 24 | $1.2B | $-220.0M | ||
| Q2 24 | $954.3M | $353.1M |
| Q1 26 | — | — | ||
| Q4 25 | 7.3% | — | ||
| Q3 25 | 9.0% | — | ||
| Q2 25 | 7.7% | — | ||
| Q1 25 | 9.1% | — | ||
| Q4 24 | 14.7% | — | ||
| Q3 24 | 16.3% | — | ||
| Q2 24 | 14.4% | — |
| Q1 26 | 3.5% | — | ||
| Q4 25 | 5.2% | 11.3% | ||
| Q3 25 | 6.7% | 5.8% | ||
| Q2 25 | 5.7% | 11.1% | ||
| Q1 25 | 6.8% | 1.3% | ||
| Q4 24 | 11.0% | 19.1% | ||
| Q3 24 | 12.3% | -7.3% | ||
| Q2 24 | 10.9% | 8.2% |
| Q1 26 | $0.93 | — | ||
| Q4 25 | — | $2.30 | ||
| Q3 25 | $2.29 | $0.95 | ||
| Q2 25 | $1.81 | $1.79 | ||
| Q1 25 | $1.96 | $0.21 | ||
| Q4 24 | $4.03 | $3.92 | ||
| Q3 24 | $4.26 | $-0.95 | ||
| Q2 24 | $3.45 | $1.49 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $2.1B | $4.4B |
| Total DebtLower is stronger | — | $3.9B |
| Stockholders' EquityBook value | $21.9B | $11.9B |
| Total Assets | $33.2B | $341.4B |
| Debt / EquityLower = less leverage | — | 0.33× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $2.1B | — | ||
| Q4 25 | $3.8B | $4.4B | ||
| Q3 25 | — | $5.1B | ||
| Q2 25 | — | $3.7B | ||
| Q1 25 | — | $3.9B | ||
| Q4 24 | $4.9B | $4.2B | ||
| Q3 24 | — | $6.2B | ||
| Q2 24 | — | $4.8B |
| Q1 26 | — | — | ||
| Q4 25 | $5.9B | $3.9B | ||
| Q3 25 | — | $3.9B | ||
| Q2 25 | — | $3.9B | ||
| Q1 25 | — | $4.3B | ||
| Q4 24 | $4.2B | $4.0B | ||
| Q3 24 | — | $3.9B | ||
| Q2 24 | — | $3.9B |
| Q1 26 | $21.9B | — | ||
| Q4 25 | $22.0B | $11.9B | ||
| Q3 25 | $22.6B | $11.7B | ||
| Q2 25 | $22.6B | $11.4B | ||
| Q1 25 | $22.7B | $11.2B | ||
| Q4 24 | $27.9B | $11.1B | ||
| Q3 24 | $27.4B | $11.2B | ||
| Q2 24 | $26.9B | $11.0B |
| Q1 26 | $33.2B | — | ||
| Q4 25 | $34.4B | $341.4B | ||
| Q3 25 | $34.9B | $334.5B | ||
| Q2 25 | $34.4B | $323.1B | ||
| Q1 25 | $35.0B | $313.0B | ||
| Q4 24 | $41.3B | $313.7B | ||
| Q3 24 | $39.7B | $322.9B | ||
| Q2 24 | $38.7B | $308.8B |
| Q1 26 | — | — | ||
| Q4 25 | 0.27× | 0.33× | ||
| Q3 25 | — | 0.34× | ||
| Q2 25 | — | 0.34× | ||
| Q1 25 | — | 0.39× | ||
| Q4 24 | 0.15× | 0.36× | ||
| Q3 24 | — | 0.35× | ||
| Q2 24 | — | 0.36× |
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 | — | $1.7B |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | — | 3.37× |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $1.8B | $1.7B | ||
| Q3 25 | $-158.6M | $1.0B | ||
| Q2 25 | $-1.1B | $811.9M | ||
| Q1 25 | $-289.0M | $977.3M | ||
| Q4 24 | $974.5M | $1.5B | ||
| Q3 24 | $819.2M | $1.1B | ||
| Q2 24 | $241.8M | $1.4B |
| Q1 26 | — | — | ||
| Q4 25 | $1.7B | — | ||
| Q3 25 | $-190.8M | — | ||
| Q2 25 | $-1.1B | — | ||
| Q1 25 | $-345.1M | — | ||
| Q4 24 | $933.1M | — | ||
| Q3 24 | $800.8M | — | ||
| Q2 24 | $203.0M | — |
| Q1 26 | — | — | ||
| Q4 25 | 17.9% | — | ||
| Q3 25 | -2.2% | — | ||
| Q2 25 | -13.3% | — | ||
| Q1 25 | -4.5% | — | ||
| Q4 24 | 9.4% | — | ||
| Q3 24 | 8.5% | — | ||
| Q2 24 | 2.3% | — |
| Q1 26 | — | — | ||
| Q4 25 | 0.9% | — | ||
| Q3 25 | 0.4% | — | ||
| Q2 25 | 0.2% | — | ||
| Q1 25 | 0.7% | — | ||
| Q4 24 | 0.4% | — | ||
| Q3 24 | 0.2% | — | ||
| Q2 24 | 0.4% | — |
| Q1 26 | — | — | ||
| Q4 25 | 3.59× | 3.37× | ||
| Q3 25 | -0.27× | 4.70× | ||
| Q2 25 | -2.29× | 2.00× | ||
| Q1 25 | -0.56× | 20.32× | ||
| Q4 24 | 0.89× | 1.61× | ||
| Q3 24 | 0.70× | — | ||
| Q2 24 | 0.25× | 4.05× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
LEN
| Homebuilding | $6.3B | 95% |
| Financial Services | $215.6M | 3% |
| Multifamily | $82.5M | 1% |
| Lennar Other | $22.9M | 0% |
PFG
| Segment Retirement And Income Solutions | $1.6B | 36% |
| Segment Benefits And Protection | $1.1B | 23% |
| Other | $582.8M | 13% |
| Segment Principal Asset Management | $465.6M | 10% |
| Subsegment Investment Management | $449.4M | 10% |
| Administrative Service | $152.2M | 3% |
| Subsegment International Pension | $91.2M | 2% |
| Segment Corporate | $73.0M | 2% |
| Subsegment Life Insurance | $26.1M | 1% |
| Financial Service Other | $25.1M | 1% |
| Residential Mortgage | $7.4M | 0% |
| Subsegment Specialty Benefits | $3.7M | 0% |
| Deposit Account | $3.4M | 0% |
| Commission Income | $1.8M | 0% |
