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Side-by-side financial comparison of Lennar (LEN) and Viking Holdings Ltd (VIK). Click either name above to swap in a different company.
Lennar is the larger business by last-quarter revenue ($6.6B vs $4.0B, roughly 1.7× Viking Holdings Ltd). Viking Holdings Ltd runs the higher net margin — 12.9% vs 3.5%, a 9.4% gap on every dollar of revenue.
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.
Norwegian Cruise Line Holdings (NCLH) is a holding company that is based in the United States and domiciled in Bermuda. It operates three cruise lines as wholly owned subsidiaries: Norwegian Cruise Line, Oceania Cruises, and Regent Seven Seas Cruises. With its subsidiaries combined, it is the third-largest cruise operator in the world. It is a publicly traded company listed on the New York Stock Exchange.
LEN vs VIK — Head-to-Head
Income Statement — Q2 FY2026 vs Q3 FY2025
| Metric | | |
|---|---|---|
| Revenue | $6.6B | $4.0B |
| Net Profit | $229.4M | $514.0M |
| Gross Margin | — | 73.4% |
| Operating Margin | — | 15.2% |
| Net Margin | 3.5% | 12.9% |
| Revenue YoY | -13.3% | — |
| Net Profit YoY | -55.8% | 35.4% |
| EPS (diluted) | $0.93 | $1.15 |
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 | — | ||
| Q3 25 | $8.8B | $4.0B | ||
| Q2 25 | $8.4B | $2.3B | ||
| Q1 25 | $7.6B | $718.2M | ||
| Q4 24 | $9.9B | — | ||
| Q3 24 | $9.4B | $3.6B | ||
| Q2 24 | $8.8B | $2.1B |
| Q1 26 | $229.4M | — | ||
| Q4 25 | $490.2M | — | ||
| Q3 25 | $591.0M | $514.0M | ||
| Q2 25 | $477.4M | $439.2M | ||
| Q1 25 | $519.5M | $-105.5M | ||
| Q4 24 | $1.1B | — | ||
| Q3 24 | $1.2B | $379.7M | ||
| Q2 24 | $954.3M | $159.8M |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | 73.4% | ||
| Q2 25 | — | 55.7% | ||
| Q1 25 | — | 17.3% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 74.7% | ||
| Q2 24 | — | 57.8% |
| Q1 26 | — | — | ||
| Q4 25 | 7.3% | — | ||
| Q3 25 | 9.0% | 15.2% | ||
| Q2 25 | 7.7% | 23.7% | ||
| Q1 25 | 9.1% | -1.3% | ||
| Q4 24 | 14.7% | — | ||
| Q3 24 | 16.3% | 13.6% | ||
| Q2 24 | 14.4% | 20.5% |
| Q1 26 | 3.5% | — | ||
| Q4 25 | 5.2% | — | ||
| Q3 25 | 6.7% | 12.9% | ||
| Q2 25 | 5.7% | 19.1% | ||
| Q1 25 | 6.8% | -14.7% | ||
| Q4 24 | 11.0% | — | ||
| Q3 24 | 12.3% | 10.6% | ||
| Q2 24 | 10.9% | 7.7% |
| Q1 26 | $0.93 | — | ||
| Q4 25 | — | — | ||
| Q3 25 | $2.29 | $1.15 | ||
| Q2 25 | $1.81 | $0.99 | ||
| Q1 25 | $1.96 | $-0.24 | ||
| Q4 24 | $4.03 | — | ||
| Q3 24 | $4.26 | $0.87 | ||
| Q2 24 | $3.45 | $0.38 |
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 | $3.0B |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $21.9B | $803.5M |
| Total Assets | $33.2B | $11.5B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $2.1B | — | ||
| Q4 25 | $3.8B | — | ||
| Q3 25 | — | $3.0B | ||
| Q2 25 | — | $2.6B | ||
| Q1 25 | — | $2.8B | ||
| Q4 24 | $4.9B | — | ||
| Q3 24 | — | $2.4B | ||
| Q2 24 | — | $1.8B |
| Q1 26 | — | — | ||
| Q4 25 | $5.9B | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $4.2B | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | $21.9B | — | ||
| Q4 25 | $22.0B | — | ||
| Q3 25 | $22.6B | $803.5M | ||
| Q2 25 | $22.6B | $278.3M | ||
| Q1 25 | $22.7B | $-267.5M | ||
| Q4 24 | $27.9B | — | ||
| Q3 24 | $27.4B | $-688.9M | ||
| Q2 24 | $26.9B | $-1.1B |
| Q1 26 | $33.2B | — | ||
| Q4 25 | $34.4B | — | ||
| Q3 25 | $34.9B | $11.5B | ||
| Q2 25 | $34.4B | $11.1B | ||
| Q1 25 | $35.0B | $10.7B | ||
| Q4 24 | $41.3B | — | ||
| Q3 24 | $39.7B | — | ||
| Q2 24 | $38.7B | — |
| Q1 26 | — | — | ||
| Q4 25 | 0.27× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.15× | — | ||
| 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 | — | $663.9M |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | — | 1.29× |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $1.8B | — | ||
| Q3 25 | $-158.6M | $663.9M | ||
| Q2 25 | $-1.1B | $470.7M | ||
| Q1 25 | $-289.0M | $587.9M | ||
| Q4 24 | $974.5M | — | ||
| Q3 24 | $819.2M | $828.7M | ||
| Q2 24 | $241.8M | $419.8M |
| 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× | — | ||
| Q3 25 | -0.27× | 1.29× | ||
| Q2 25 | -2.29× | 1.07× | ||
| Q1 25 | -0.56× | — | ||
| Q4 24 | 0.89× | — | ||
| Q3 24 | 0.70× | 2.18× | ||
| Q2 24 | 0.25× | 2.63× |
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% |
VIK
Segment breakdown not available.
