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Side-by-side financial comparison of Lennar (LEN) and PayPal (PYPL). Click either name above to swap in a different company.
Lennar is the larger business by last-quarter revenue ($9.4B vs $8.7B, roughly 1.1× PayPal). PayPal runs the higher net margin — 16.6% vs 5.2%, a 11.3% gap on every dollar of revenue. On growth, PayPal posted the faster year-over-year revenue change (3.7% vs -5.8%). PayPal produced more free cash flow last quarter ($2.2B vs $1.7B). Over the past eight quarters, Lennar's revenue compounded faster (13.2% CAGR vs 6.2%).
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.
PayPalPYPLEarnings & Financial Report
PayPal Holdings, Inc. is an American multinational financial technology company operating an online payments system in the majority of countries that support online money transfers; it serves as an electronic alternative to traditional paper methods such as checks and money orders. The company operates as a payment processor for online vendors, auction sites and many other commercial and company users.
LEN vs PYPL — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $9.4B | $8.7B |
| Net Profit | $490.2M | $1.4B |
| Gross Margin | — | — |
| Operating Margin | 7.3% | 17.4% |
| Net Margin | 5.2% | 16.6% |
| Revenue YoY | -5.8% | 3.7% |
| Net Profit YoY | -55.3% | 28.2% |
| EPS (diluted) | — | $1.53 |
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.
| Q4 25 | $9.4B | $8.7B | ||
| Q3 25 | $8.8B | $8.4B | ||
| Q2 25 | $8.4B | $8.3B | ||
| Q1 25 | $7.6B | $7.8B | ||
| Q4 24 | $9.9B | $8.4B | ||
| Q3 24 | $9.4B | $7.8B | ||
| Q2 24 | $8.8B | $7.9B | ||
| Q1 24 | $7.3B | $7.7B |
| Q4 25 | $490.2M | $1.4B | ||
| Q3 25 | $591.0M | $1.2B | ||
| Q2 25 | $477.4M | $1.3B | ||
| Q1 25 | $519.5M | $1.3B | ||
| Q4 24 | $1.1B | $1.1B | ||
| Q3 24 | $1.2B | $1.0B | ||
| Q2 24 | $954.3M | $1.1B | ||
| Q1 24 | $719.3M | $888.0M |
| Q4 25 | 7.3% | 17.4% | ||
| Q3 25 | 9.0% | 18.1% | ||
| Q2 25 | 7.7% | 18.1% | ||
| Q1 25 | 9.1% | 19.6% | ||
| Q4 24 | 14.7% | 17.2% | ||
| Q3 24 | 16.3% | 17.7% | ||
| Q2 24 | 14.4% | 16.8% | ||
| Q1 24 | 12.7% | 15.2% |
| Q4 25 | 5.2% | 16.6% | ||
| Q3 25 | 6.7% | 14.8% | ||
| Q2 25 | 5.7% | 15.2% | ||
| Q1 25 | 6.8% | 16.5% | ||
| Q4 24 | 11.0% | 13.4% | ||
| Q3 24 | 12.3% | 12.9% | ||
| Q2 24 | 10.9% | 14.3% | ||
| Q1 24 | 9.8% | 11.5% |
| Q4 25 | — | $1.53 | ||
| Q3 25 | $2.29 | $1.30 | ||
| Q2 25 | $1.81 | $1.29 | ||
| Q1 25 | $1.96 | $1.29 | ||
| Q4 24 | $4.03 | $1.09 | ||
| Q3 24 | $4.26 | $0.99 | ||
| Q2 24 | $3.45 | $1.08 | ||
| Q1 24 | $2.57 | $0.83 |
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 | $10.4B |
| Total DebtLower is stronger | $5.9B | — |
| Stockholders' EquityBook value | $22.0B | $20.3B |
| Total Assets | $34.4B | $80.2B |
| Debt / EquityLower = less leverage | 0.27× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $3.8B | $10.4B | ||
| Q3 25 | — | $10.8B | ||
| Q2 25 | — | $10.0B | ||
| Q1 25 | — | $11.2B | ||
| Q4 24 | $4.9B | $10.8B | ||
| Q3 24 | — | $11.9B | ||
| Q2 24 | — | $13.6B | ||
| Q1 24 | — | $14.3B |
| Q4 25 | $5.9B | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $4.2B | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $22.0B | $20.3B | ||
| Q3 25 | $22.6B | $20.2B | ||
| Q2 25 | $22.6B | $20.2B | ||
| Q1 25 | $22.7B | $20.3B | ||
| Q4 24 | $27.9B | $20.4B | ||
| Q3 24 | $27.4B | $20.2B | ||
| Q2 24 | $26.9B | $20.6B | ||
| Q1 24 | $26.6B | $20.7B |
| Q4 25 | $34.4B | $80.2B | ||
| Q3 25 | $34.9B | $79.8B | ||
| Q2 25 | $34.4B | $79.8B | ||
| Q1 25 | $35.0B | $81.3B | ||
| Q4 24 | $41.3B | $81.6B | ||
| Q3 24 | $39.7B | $83.5B | ||
| Q2 24 | $38.7B | $84.0B | ||
| Q1 24 | $39.0B | $83.3B |
| Q4 25 | 0.27× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.15× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 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 | $2.4B |
| Free Cash FlowOCF − Capex | $1.7B | $2.2B |
| FCF MarginFCF / Revenue | 17.9% | 25.2% |
| Capex IntensityCapex / Revenue | 0.9% | 2.2% |
| Cash ConversionOCF / Net Profit | 3.59× | 1.66× |
| TTM Free Cash FlowTrailing 4 quarters | $28.2M | $5.6B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.8B | $2.4B | ||
| Q3 25 | $-158.6M | $2.0B | ||
| Q2 25 | $-1.1B | $898.0M | ||
| Q1 25 | $-289.0M | $1.2B | ||
| Q4 24 | $974.5M | $2.4B | ||
| Q3 24 | $819.2M | $1.6B | ||
| Q2 24 | $241.8M | $1.5B | ||
| Q1 24 | $367.9M | $1.9B |
| Q4 25 | $1.7B | $2.2B | ||
| Q3 25 | $-190.8M | $1.7B | ||
| Q2 25 | $-1.1B | $692.0M | ||
| Q1 25 | $-345.1M | $964.0M | ||
| Q4 24 | $933.1M | $2.2B | ||
| Q3 24 | $800.8M | $1.4B | ||
| Q2 24 | $203.0M | $1.4B | ||
| Q1 24 | $294.9M | $1.8B |
| Q4 25 | 17.9% | 25.2% | ||
| Q3 25 | -2.2% | 20.4% | ||
| Q2 25 | -13.3% | 8.3% | ||
| Q1 25 | -4.5% | 12.4% | ||
| Q4 24 | 9.4% | 26.2% | ||
| Q3 24 | 8.5% | 18.4% | ||
| Q2 24 | 2.3% | 17.3% | ||
| Q1 24 | 4.0% | 22.9% |
| Q4 25 | 0.9% | 2.2% | ||
| Q3 25 | 0.4% | 3.0% | ||
| Q2 25 | 0.2% | 2.5% | ||
| Q1 25 | 0.7% | 2.5% | ||
| Q4 24 | 0.4% | 2.4% | ||
| Q3 24 | 0.2% | 2.2% | ||
| Q2 24 | 0.4% | 2.0% | ||
| Q1 24 | 1.0% | 2.0% |
| Q4 25 | 3.59× | 1.66× | ||
| Q3 25 | -0.27× | 1.58× | ||
| Q2 25 | -2.29× | 0.71× | ||
| Q1 25 | -0.56× | 0.90× | ||
| Q4 24 | 0.89× | 2.14× | ||
| Q3 24 | 0.70× | 1.60× | ||
| Q2 24 | 0.25× | 1.35× | ||
| Q1 24 | 0.51× | 2.16× |
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% |
PYPL
| US | $4.9B | 57% |
| Non Us | $3.7B | 43% |
