LEN-B vs. PHM

Last updated Jun 23, 2026

LEN-B (Lennar Corporation) and PHM (PulteGroup, Inc.) are both stocks. Both operate in the Residential Construction industry within the Consumer Cyclical sector. Over the past 10 years, LEN-B returned 11.09%/yr vs 22.59%/yr for PHM. Their correlation of 0.82 suggests significant overlap in exposure.

Performance

LEN-B vs. PHM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Lennar Corporation (LEN-B) and PulteGroup, Inc. (PHM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, LEN-B achieves a -9.47% return, which is significantly lower than PHM's 7.59% return. Over the past 10 years, LEN-B has underperformed PHM with an annualized return of 11.09%, while PHM has yielded a comparatively higher 22.59% annualized return.

LEN-B

• 1D: -2.53%
• 1M: -1.83%
• YTD: -9.47%
• 6M: -12.20%
• 1Y: -14.26%
• 3Y*: -4.88%
• 5Y*: 4.34%
• 10Y*: 11.09%

PHM

• 1D: -1.06%
• 1M: 8.12%
• YTD: 7.59%
• 6M: 5.91%
• 1Y: 24.79%
• 3Y*: 19.01%
• 5Y*: 19.76%
• 10Y*: 22.59%

*Multi-year figures are annualized to reflect compound growth (CAGR)

LEN-B vs. PHM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
LEN-B Lennar Corporation	-9.47%	-22.92%	-0.04%	82.02%	-20.04%	58.29%	38.63%	43.24%	-39.16%	53.36%
PHM PulteGroup, Inc.	7.59%	8.54%	6.22%	128.76%	-19.22%	34.03%	12.55%	51.33%	-20.76%	83.43%

Correlation

The correlation between LEN-B and PHM is 0.88, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.88
Correlation (3Y) Calculated over the trailing 3-year period	0.89
Correlation (5Y) Calculated over the trailing 5-year period	0.89
Correlation (10Y) Calculated over the trailing 10-year period	0.85
Correlation (All Time) Calculated using the full available price history since Apr 23, 2003	0.82

The correlation between LEN-B and PHM has been stable across timeframes, ranging from 0.82 to 0.89 - a consistent structural relationship.

Fundamentals

Market Cap LEN-B : $20.68B PHM : $24.35B
EPS LEN-B : $7.91 PHM : $10.36
PE Ratio LEN-B : 10.78 PHM : 12.12
PS Ratio LEN-B : 0.65 PHM : 1.47
Total Revenue (TTM) LEN-B : $32.74B PHM : $16.83B
Gross Profit (TTM) LEN-B : $1.72B PHM : $4.39B
EBITDA (TTM) LEN-B : $2.36B PHM : $2.76B

Return for Risk

LEN-B vs. PHM — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

LEN-B

LEN-B Risk / Return Rank: 27
LEN-B Sharpe Ratio Rank: 26
LEN-B Sortino Ratio Rank: 24
LEN-B Omega Ratio Rank: 25
LEN-B Calmar Ratio Rank: 30
LEN-B Martin Ratio Rank: 31

PHM

PHM Risk / Return Rank: 63
PHM Sharpe Ratio Rank: 65
PHM Sortino Ratio Rank: 63
PHM Omega Ratio Rank: 60
PHM Calmar Ratio Rank: 64
PHM Martin Ratio Rank: 63

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

LEN-B vs. PHM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Lennar Corporation (LEN-B) and PulteGroup, Inc. (PHM). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	LEN-B	PHM	Difference
Sharpe ratio: Return per unit of total volatility	-0.37	0.72	-1.10
Sortino ratio: Return per unit of downside risk	-0.31	1.37	-1.68
Omega ratio: Gain probability vs. loss probability	0.97	1.15	-0.19
Calmar ratio: Return relative to maximum drawdown	-0.36	1.10	-1.46
Martin ratio: Return relative to average drawdown	-0.62	2.12	-2.73

LEN-B vs. PHM - Sharpe Ratio Comparison

The current LEN-B Sharpe Ratio is -0.37, which is lower than the PHM Sharpe Ratio of 0.72. The chart below compares the historical Sharpe Ratios of LEN-B and PHM, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

LEN-B vs. PHM - Drawdown Comparison

The maximum LEN-B drawdown since its inception was -95.76%, roughly equal to the maximum PHM drawdown of -92.40%. Use the drawdown chart below to compare losses from any high point for LEN-B and PHM.

Drawdown Indicators

	LEN-B	PHM	Difference
Max Drawdown Largest peak-to-trough decline	-95.76%	-92.40%	-3.36%
Max Drawdown (1Y) Largest decline over 1 year	-40.29%	-22.60%	-17.69%
Max Drawdown (3Y) Largest decline over 3 years	-50.66%	-38.01%	-12.65%
Max Drawdown (5Y) Largest decline over 5 years	-50.66%	-38.01%	-12.65%
Max Drawdown (10Y) Largest decline over 10 years	-62.05%	-62.11%	+0.06%
Current Drawdown Current decline from peak	-47.64%	-14.52%	-33.12%
Average Drawdown Average peak-to-trough decline	-34.80%	-35.46%	+0.66%
Ulcer Index Depth and duration of drawdowns from previous peaks	23.13%	11.74%	+11.39%

Volatility

LEN-B vs. PHM - Volatility Comparison

Lennar Corporation (LEN-B) has a higher volatility of 11.10% compared to PulteGroup, Inc. (PHM) at 9.16%. This indicates that LEN-B's price experiences larger fluctuations and is considered to be riskier than PHM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	LEN-B	PHM	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.10%	9.16%	+1.94%
Volatility (6M) Calculated over the trailing 6-month period	26.72%	24.06%	+2.66%
Volatility (1Y) Calculated over the trailing 1-year period	38.47%	34.43%	+4.04%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	34.80%	34.80%	0.00%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	38.02%	36.53%	+1.49%

Dividends

LEN-B vs. PHM - Dividend Comparison

LEN-B's dividend yield for the trailing twelve months is around 2.35%, more than PHM's 0.80% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
LEN-B Lennar Corporation	2.35%	2.10%	1.51%	1.12%	2.01%	1.05%	1.02%	0.36%	0.51%	0.30%	0.46%	0.40%
PHM PulteGroup, Inc.	0.80%	0.78%	0.75%	0.66%	1.34%	1.00%	1.16%	1.16%	1.46%	1.08%	1.96%	1.85%

Financials

LEN-B vs. PHM - Profitability Comparison

The chart below illustrates the profitability comparison between Lennar Corporation and PulteGroup, Inc. over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

LEN-B - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Lennar Corporation reported a gross profit of -390.70M and revenue of 7.94B. Therefore, the gross margin over that period was -4.9%.

PHM - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, PulteGroup, Inc. reported a gross profit of 822.11M and revenue of 3.41B. Therefore, the gross margin over that period was 24.1%.

LEN-B - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Lennar Corporation reported an operating income of 629.34M and revenue of 7.94B, resulting in an operating margin of 7.9%.

PHM - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, PulteGroup, Inc. reported an operating income of 441.77M and revenue of 3.41B, resulting in an operating margin of 13.0%.

LEN-B - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Lennar Corporation reported a net income of 656.43M and revenue of 7.94B, resulting in a net margin of 8.3%.

PHM - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, PulteGroup, Inc. reported a net income of 347.00M and revenue of 3.41B, resulting in a net margin of 10.2%.

Frequently Asked Questions

Can I hold both LEN-B and PHM in my portfolio?

LEN-B and PHM have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, LEN-B or PHM?

LEN-B has higher volatility (11.10%) compared to PHM (9.16%). In terms of maximum drawdown, LEN-B dropped -95.76% vs PHM's -92.40%.

Which has better risk-adjusted returns?

PHM currently has the higher Sharpe Ratio (0.72 vs -0.37), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.