LNR on 6.5x EV:EBITDA fy 14 (based upon low end of guidance which I believe apt given the June H av.) vs SEA on 5x consensus with risk to the upside given inventory awaiting completion at jun 30.
LNR on 4.5x EV:EBITDA fy 15 (based upon guidance)
vs SEA on 3.2x consensus with risk to the upside.
SEA is fundamentally better value regardless of your misconceptions regarding their product mix.
