KB Home vs M/I Homes
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KIRA’s take AI analyst
I put KB Home and M/I Homes side by side, using each one’s latest annual report. Here is what stands out:
- 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%).
- Investors pay more for each dollar of KB Home’s earnings: a P/E of 13.3x against 11.8x for M/I Homes.
Who comes out ahead
Of the 6 measures where higher (or lower) is clearly better, how many each company leads.
KB Home
KBH
3/6
5-year growthFCF marginShare count change
M/I Homes
MHO
3/6
Revenue growthNet marginReturn on equity
Side by side
Best in the row
| 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 | — | — |
Ten years
Revenue
Operating margin
Free cash flow
Return on capital
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.