KB Home
KBH · Homebuilding
$47.05
1.9%M/I Homes
MHO · Homebuilding
$123.97
0.5%The short version
- KB Home is the larger business, with $6.2B of revenue in fiscal 2025 against $4.4B for M/I Homes.
- M/I Homes grew revenue faster (−1.9%, against −10.0%).
- KB Home turned more of its sales into free cash flow (4.6% FCF margin, against 2.9% FCF margin).
- Investors pay more for each dollar of KB Home’s earnings: a P/E of 13.3x against 11.8x for M/I Homes.
| Latest fiscal year | KBH · FY25 | MHO · FY25 |
|---|---|---|
| Size | ||
| Market cap | $2.9B | $3.2B |
| Revenue | $6.2B | $4.4B |
| Free cash flow | $287M | $128M |
| Net income | $429M | $403M |
| Growth | ||
| Revenue growth | −10.0% | −1.9% |
| 5-year growth | 8.3% | 7.7% |
| Share count change | −10.0% | −4.4% |
| Profitability | ||
| Gross margin | — | 23.0% |
| Operating margin | — | 11.5% |
| Net margin | 6.9% | 9.1% |
| FCF margin | 4.6% | 2.9% |
| Return on capital | — | — |
| Return on equity | 10.8% | 13.2% |
| Balance sheet | ||
| Net debt | $1.5B | — |
| Net debt / EBITDA | — | — |
| Dividends and buybacks | $610M | $202M |
| Valuation & quality | ||
| P/E | 13.3x | 11.8x |
| Piotroski F-score | — | — |
FY16
KBH $3.6B
MHO $1.7B
FY17
KBH $4.4B
MHO $2.0B
FY18
KBH $4.5B
MHO $2.3B
FY19
KBH $4.6B
MHO $2.5B
FY20
KBH $4.2B
MHO $3.0B
FY21
KBH $5.7B
MHO $3.7B
FY22
KBH $6.9B
MHO $4.1B
FY23
KBH $6.4B
MHO $4.0B
FY24
KBH $6.9B
MHO $4.5B
FY25
KBH $6.2B
MHO $4.4B
KBH
MHO
FY16
KBH 4.2%
MHO 6.4%
FY17
KBH 6.5%
MHO 7.1%
FY18
KBH 7.6%
MHO 7.1%
FY19
KBH —
MHO 7.5%
FY20
KBH —
MHO 10.5%
FY21
KBH —
MHO 13.8%
FY22
KBH —
MHO 15.4%
FY23
KBH —
MHO 14.6%
FY24
KBH —
MHO 15.7%
FY25
KBH —
MHO 11.5%
KBH
MHO
FY16
KBH —
MHO $21.1M
FY17
KBH —
MHO −$62.0M
FY18
KBH $214M
MHO −$10.7M
FY19
KBH $211M
MHO $61.1M
FY20
KBH $282M
MHO $157M
FY21
KBH −$76.7M
MHO −$42.1M
FY22
KBH $138M
MHO $175M
FY23
KBH $1.0B
MHO $546M
FY24
KBH $323M
MHO $171M
FY25
KBH $287M
MHO $128M
KBH
MHO
FY16
KBH 2.9%
MHO —
FY17
KBH 4.8%
MHO —
FY18
KBH 4.9%
MHO —
FY19
KBH 7.4%
MHO —
FY20
KBH 8.0%
MHO —
FY21
KBH 14.0%
MHO —
FY22
KBH 17.0%
MHO —
FY23
KBH —
MHO —
FY24
KBH —
MHO —
FY25
KBH —
MHO —
KBH
MHO
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