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KB Home

KBH NYSE Homebuilding Financials FY2016–FY2025

KB Home's revenue fell 10.0% to $6.2 billion in fiscal 2025. Its net margin was 6.9%, down from 9.4% a year earlier. Free cash flow was $287 million, down 11.2%. It paid out $610 million in dividends and buybacks, 212% of free cash flow. The diluted share count fell 10.0%.

Last close · Oct 23, 2026

$47.05

1.9%
Value it Compare
Revenue Total sales reported in the income statement.
$6.2B
10.0% vs prior year
Operating margin Operating income as a share of revenue.
—
Net income Profit after all expenses, interest and tax.
$429M
34.5%
Free cash flow Cash from operations minus capital spending.
$287M
11.2%
Return on capital After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
—
Market cap Last close times the latest diluted share count, so it is approximate.
$2.9B
Oct 23 close
P/E Last close divided by diluted earnings per share over the last four quarters.
13.3x
On $3.55 EPS (TTM)

About these figures. Total debt is KB Home's notes payable, the balance sheet's debt line.

What KB Home does

No business description yet.

Legal name
KB HOME
Fiscal year ends
November 30, 2025
Latest annual report
—
Accession · CIK
0000795266-26-000017
0000795266

Revenue and margins

KB Home had $6.2B of revenue in fiscal 2025, down 10.0% on the year before.

Revenue
Revenue
Margins, % of revenue
Gross Operating Net FCF
Margins, % of revenue
Gross Operating Net FCF

Net income and earnings per share

From fiscal 2016 to 2025, diluted EPS grew 20.8% a year. Loss periods are shown in red.

Net income
Net income
Diluted EPS
Diluted EPS

Returns on capital

After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.

Return on capital, equity and assets (annual)
Return on capital Return on equity Return on assets

Cash flow

Free cash flow was $287M in fiscal 2025, 4.6% of revenue. Cash from operations minus capital spending.

Free cash flow
Free cash flow
Cash from operations vs capital spending
Cash from operations Capital spending
Cash from operations vs capital spending
Cash from operations Capital spending

Dividends, buybacks and share count

KB Home returned $610M to shareholders in fiscal 2025, 212% of free cash flow. The diluted share count fell 10.0%.

Dividends and buybacks
Dividends Buybacks
Dividends and buybacks
Dividends Buybacks
Diluted shares outstanding (annual)

Value KB Home yourself

Change the assumptions and see what they imply per share. These are models, not forecasts or price targets — the answer depends entirely on what you put in.

Discounted cash flow

Value per share

—

Adds net cash of −$1.5B and divides by 69.3M diluted shares. Ten years of cash flows plus a terminal value, discounted to today.

Earnings multiple

Value per share

—

Reference multiples: today 13.3x · peers 12.2x · sector 17.9x.

Balance sheet

Cash, debt and the ratios that show how comfortably KB Home can carry it.

Cash vs debt (incl. leases)
Cash Debt
Fiscal year endFY21FY22FY23FY24FY25
Cash and short-term investments $292M$330M$727M$599M$230M
Debt incl. finance leases $1.7B$1.8B$1.7B$1.7B$1.7B
Net debt / EBITDA 1.9x1.4x———
Debt / equity 0.6x0.5x0.4x0.4x0.4x
Interest coverage 99.1x196.3x———
Total assets $5.8B$6.7B$6.6B$6.9B$6.7B
Total liabilities $2.8B$3.0B$2.8B$2.9B$2.8B
Shareholders' equity $3.0B$3.7B$3.8B$4.1B$3.9B
Net debt (− = net cash) $1.4B$1.5B$963M$1.1B$1.5B

Insider trades

Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. 'Plan' marks trades under a pre-arranged Rule 10b5-1 plan.

Bought, 12 months

$0.0M

0 insiders

Sold, 12 months

$19.1M

4 insiders

Of sales under plans

0%

$0.0M

DateInsiderTradeSharesPriceValueFiling
Aug 6, 2026 Arthur Reginald CollinsDirector Sold 4,000 $56.96 $0.2M Form 4
Aug 5, 2026 Albert Z PrawEVP, Real Estate & Bus. Dev. Sold 22,015 $58.70 $1.3M Form 4
Jul 15, 2026 Jeffrey T MezgerExecutive Chairman, Director Sold 51,018 $56.51 $2.9M Form 4
Jul 14, 2026 Jeffrey T MezgerExecutive Chairman, Director Sold 129,062 $55.05 $7.1M Form 4
Jul 13, 2026 Jeffrey T MezgerExecutive Chairman, Director Sold 94,872 $55.07 $5.2M Form 4
Jul 13, 2026 Robert V. McGibneyPresident and CEO, Director Sold 20,621 $55.31 $1.1M Form 4
Nov 4, 2025 Albert Z PrawEVP, Real Estate & Bus. Dev. Sold 20,284 $60.08 $1.2M Form 4

Piotroski F-score

Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.

TestFY23FY24FY25
Net income is positive ✓ ✓ ✓
Cash from operations is positive ✓ ✓ ✓
Return on assets rose ✕ ✓ ✕
Cash from operations exceeds net income ✓ ✕ ✕
Debt fell relative to assets ✓ ✓ ✓
Current ratio rose — — —
Share count didn't rise ✓ ✓ ✓
Gross margin rose — — —
Revenue rose relative to assets ✕ ✓ ✕
F-score — / 9— / 9— / 9
Accruals ratio −7.4%4.3%1.4%
Altman Z'' ———

Similar companies

Each company's latest fiscal year. Fiscal years end in different months, so periods don't line up exactly.

CompanyMarket capGrowthOp. marginFCF marginROICP/EF-score
KB Home KBH $2.9B −10.0% — 4.6% — 13.3x —
M/I Homes MHO $3.2B −1.9% 11.5% 2.9% — 11.8x — Compare →
Dream Finders Homes DFH $936M −2.9% — −2.9% 17.2% 7.2x — Compare →
Century Communities CCS $1.7B −6.4% — 3.0% — 12.7x — Compare →
NVR NVR $16.8B −1.9% — 10.6% — 15.5x — Compare →

10 years of figures

US$ millions unless stated. Hover a ratio's name for its definition.

Download CSV
Fiscal yearFY16FY17FY18FY19FY20FY21FY22FY23FY24FY25
Income statement
Revenue $3.6B $4.4B $4.5B $4.6B $4.2B $5.7B $6.9B $6.4B $6.9B $6.2B
Operating income $152M $283M $346M — — — — — — —
Interest expense $5.9M $0.6M $0.0M $0.0M $0.9M $7.1M −$5.4M — — —
Pretax income $149M $290M $368M $348M $364M $695M $1.1B $771M $851M $554M
Income tax $43.7M $109M $198M $79.4M $67.8M $131M $255M $181M $196M $125M
Net income $106M $181M $170M $269M $296M $565M $817M $590M $655M $429M
Diluted EPS $1.12 $1.85 $1.71 $2.85 $3.13 $6.01 $9.09 $7.03 $8.45 $6.15
Diluted shares 0.10B 0.10B 0.10B 0.09B 0.09B 0.09B 0.09B 0.08B 0.08B 0.07B
Cash flow
Cash from operations $189M $513M $222M $251M $311M −$37.3M $183M $1.1B $363M $336M
Capital expenditure — — $7.4M $40.5M $28.8M $39.4M $45.2M $35.5M $39.3M $48.4M
Free cash flow — — $214M $211M $282M −$76.7M $138M $1.0B $323M $287M
Depreciation and amortization $3.6M $2.8M $2.5M $27.2M $28.4M $28.6M $32.3M $36.4M $37.3M $37.3M
Stock-based compensation $16.8M $14.6M $15.9M $18.3M $21.5M $28.9M $29.5M $34.6M $34.5M $46.2M
Acquisitions $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M
Share buybacks $85.9M $0.0M $35.0M $0.0M $0.0M $188M $150M $411M $354M $541M
Dividends paid $8.6M $8.6M $8.9M $20.4M $38.1M $54.1M $52.5M $56.8M $71.6M $68.6M
Dividends and buybacks $94.5M $8.6M $43.9M $20.4M $38.1M $242M $202M $468M $425M $610M
Balance sheet
Cash and short-term investments $593M $721M $575M $455M $683M $292M $330M $727M $599M $230M
Total debt $2.6B $2.3B $2.1B $1.7B $1.7B $1.7B $1.8B $1.7B $1.7B $1.7B
Finance lease liabilities $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M
Inventory $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M
Property and equipment, net $14.2M $19.5M $24.3M $65.0M $65.5M $76.3M $89.2M $88.3M $90.4M $102M
Total assets $5.1B $5.0B $5.1B $5.0B $5.4B $5.8B $6.7B $6.6B $6.9B $6.7B
Total liabilities $3.4B $3.1B $3.0B $2.6B $2.7B $2.8B $3.0B $2.8B $2.9B $2.8B
Shareholders' equity $1.7B $1.9B $2.1B $2.4B $2.7B $3.0B $3.7B $3.8B $4.1B $3.9B
Margins
Operating margin 4.2% 6.5% 7.6% — — — — — — —
EBITDA margin 4.3% 6.6% 7.7% 8.2% 9.4% 12.8% 15.9% — — —
Net margin 2.9% 4.1% 3.8% 5.9% 7.1% 9.9% 11.8% 9.2% 9.5% 6.9%
FCF margin — — 4.7% 4.6% 6.7% −1.3% 2.0% 16.3% 4.7% 4.6%
Returns
Return on capital 2.9% 4.8% 4.9% 7.4% 8.0% 14.0% 17.0% — — —
Return on equity 6.2% 9.9% 8.5% 12.0% 11.7% 19.9% 24.5% 15.8% 16.6% 10.8%
Return on assets 2.1% 3.6% 3.4% 5.3% 5.7% 10.1% 13.1% 8.9% 9.6% 6.3%
Growth
Revenue growth 18.6% 21.5% 4.1% 0.1% −8.1% 36.9% 20.6% −7.1% 8.1% −10.0%
Net income growth 24.8% 71.0% −5.7% 57.8% 10.2% 90.6% 44.6% −27.7% 11.0% −34.5%
EPS growth 31.8% 65.2% −7.6% 66.7% 9.8% 92.0% 51.3% −22.7% 20.2% −27.2%
FCF growth — — — −1.7% 33.8% −127.2% — 657.9% −69.1% −11.2%
Share count change −6.4% 2.1% 2.8% −7.2% 0.3% −0.5% −4.5% −6.7% −7.7% −10.0%
Financial health
Net debt / EBITDA 13.1x 5.6x 4.3x 3.5x 2.7x 1.9x 1.4x — — —
Debt / equity 1.5x 1.2x 1.0x 0.7x 0.7x 0.6x 0.5x 0.4x 0.4x 0.4x
Interest coverage 25.8x 455.6x — — 421.4x 99.1x 196.3x — — —
Capital allocation
Capex / revenue — — 0.2% 0.9% 0.7% 0.7% 0.7% 0.6% 0.6% 0.8%
Stock comp / revenue 0.5% 0.3% 0.4% 0.4% 0.5% 0.5% 0.4% 0.5% 0.5% 0.7%
Payouts / FCF — — 20.5% 9.7% 13.5% — 146.5% 44.7% 131.5% 212.3%
Quality scores
Accruals ratio −1.6% −6.5% −1.0% 0.4% −0.3% 10.8% 10.1% −7.4% 4.3% 1.4%

Source: SEC EDGAR XBRL filings (CIK 0000795266). Data updated October 9, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only — not investment advice. Check the original filings before relying on any figure.

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