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Lennar vs Installed Building Products: LEN and IBP compared
Lennar is the larger company: $8.0B of revenue in its latest quarter (Q3 FY26) against $808M for Installed Building Products (Q3 2026). Installed Building Products is growing faster (+4% against -9% a year earlier). Installed Building Products is more profitable, with an operating margin of 11.3% against 5.7%.
Where the money goes: LEN and IBP
Lennar (LEN) · Q3 FY26
Lennar, Q3 FY26: revenue $8.0B (-9% year over year), operating margin 5.7%, net earnings $284M, operating cash flow −$104M. The chart follows the revenue to costs, profit and cash.
Installed Building Products (IBP) · Q3 2026
Installed Building Products, Q3 2026: revenue $808M (+4% year over year), operating margin 11.3%, net earnings $59.4M, operating cash flow $74.8M. The chart follows the revenue to costs, profit and cash.
| Lennar (LEN) | Installed Building Products (IBP) | |
|---|---|---|
| Latest quarter | Q3 FY26 | Q3 2026 |
| Revenue | $8.0B | $808M |
| Revenue growth, Y/Y | -9% | +4% |
| Gross margin | — | 31.8% |
| Operating margin | 5.7% | 11.3% |
| Net earnings | $284M | $59.4M |
| Net margin | 3.5% | 7.3% |
| Operating cash flow | −$104M | $74.8M |
| Free cash flow | — | $58.3M |
| Market value | $21.1B | $5.8B |
| P/E | 16.1× | 24.7× |
| Analysts’ mean target | $77.27 | $215.79 |
Where the revenue comes from
Lennar
- Homebuilding: $7.8B (96%)
- Lennar Financial Services: $226M (3%)
- Multifamily: $38.5M (0%)
- Lennar Other: $22.0M (0%)
Installed Building Products
- Net revenue, Installation: $738M (91%)
- Waterproofing: $50.7M (6%)
- Window blinds: $19.3M (2%)
Questions
Which is bigger, Lennar or Installed Building Products?
Lennar is the larger company: $8.0B of revenue in its latest quarter (Q3 FY26) against $808M for Installed Building Products (Q3 2026).
Is Lennar or Installed Building Products growing faster?
Installed Building Products is growing faster (+4% against -9% a year earlier).
Which is more profitable, Lennar or Installed Building Products?
Installed Building Products is more profitable, with an operating margin of 11.3% against 5.7%.
More: Lennar earnings · how Lennar makes money · Installed Building Products earnings · how Installed Building Products makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Oct 2, 2026; 10-Q filed Nov 5, 2026). Fiscal quarters can end on different dates. Not investment advice.