LEN vs SKY: Lennar and Skyline compared
The short version
From the latest prices and each company's SEC filings. Who's ahead on each measure, not which to buy.
- Lennar is the larger company, worth $19.7B, about 4.6 times Skyline.
- Skyline grew revenue faster over the last year (+1.3% vs -8.7%).
- Skyline keeps more of each dollar of revenue as operating profit (8.7% vs 5.4%).
- On earnings, Lennar is the cheaper stock (11.5x vs 20.6x).
- Lennar's price assumes faster free cash flow growth: about 55% a year, against 2% for Skyline (reverse DCF).
Side by side
The stronger figure is shaded where higher (or, for valuation multiples, lower) reads as better. How the implied growth works.
| Measure | LEN | SKY |
|---|---|---|
| Market cap | $19.7B | $4.3B |
| Share price | $76.69 | $79.63 |
| Revenue (last fiscal year) | $34.2B | $2.7B |
| Free cash flow (last fiscal year) | $28M | $270M |
| Revenue growth, last year | -8.7% | +1.3% |
| Revenue growth per year, last 5 fiscal years | +5.9% | +4.8% |
| Operating margin | 5.4% | 8.7% |
| Net margin | 4.1% | 7.2% |
| Return on equity | 6.1% | 12.2% |
| P/E (trailing) | 11.5x | 20.6x |
| Price / free cash flow | 700.7x | 22.6x |
| EV / EBITDA | 11.5x | 13.7x |
| FCF growth the price implies | 55.2% | 2.0% |
| Dividend yield | 2.5% | — |
| Debt / equity | 0.54x | 0.37x |
| Fundamental grade | C | C |
| Superinvestors holding it | 10 | 7 |
| Insider purchases, last 12 months | 10 | 4 |
Results from SEC filings
Revenue and free cash flow by fiscal year, from each company's 10-K filings.
Lennar
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $27.1B | $2.5B | 18.7% |
| 2022 | $33.7B | $3.2B | — |
| 2023 | $34.2B | $5.1B | 15.7% |
| 2024 | $35.4B | $2.2B | 13.5% |
| 2025 | $34.2B | $28M | 7.8% |
Skyline
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2022 | $2.2B | $192M | 15.1% |
| 2023 | $2.6B | $364M | 19.9% |
| 2024 | $2.0B | $170M | 8.7% |
| 2025 | $2.5B | $190M | 9.5% |
| 2026 | $2.7B | $270M | 9.5% |
Where the revenue comes from
Lennar · by segments, 2025
West$11.9B35%
Central$7.8B23%
East$7.0B20%
South Central$5.6B16%
Financial Services$1.2B4%
Multifamily$681M2%
Skyline · by segments, 2026
U.S Factory-built Housing$2.5B94%
Canadian Factory-built Housing$111M4%
Corporate or other$37M1%
Compare them in fullFifteen years of statements, quarterly results, DCF and IRR models, and any number of peers side by side.
Open LEN in InvestinglyQuestions
Which is bigger, Lennar or Skyline?
Lennar (LEN), at $19.7B against $4.3B.
Is LEN or SKY cheaper?
By trailing P/E, Lennar (11.5x) is cheaper than Skyline (20.6x). A lower multiple can also mean the market expects less growth.
Which grows faster, LEN or SKY?
Skyline: revenue grew +1.3% over the last year, against -8.7%.
Prices and ratios as of the last daily update; statements from SEC filings. Information only, not investment advice.