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KB Home

KBH Consumer Cyclical Residential Construction

KB Home’s revenue for fiscal 2025 (year ended November 2025) was $6.2 billion, down 10.0% from fiscal 2024.

Revenue
−20.0%
EPS
−35.3%
Free cash flow
−178.0%

Quarter to August 2026, against a year earlier

51.99 1.13 −2.13%
Market cap
$3.2B
P/E
14.4×
Fwd P/E
14.9×
Dividend yield
1.92%
F-score
5/9
Altman Z
3.83
Beneish M
−2.41
Dividend safety
75/100
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Insider Decisions last twelve months

Sold, $m 17.87
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — — — — —
Sell — — — — — — — 2 2 — — —
Insider Ownership 4.76%

Capital & Financial Ratios $m

Size
Market Cap 3,160.00
Revenue ttm 5,180.93
Net income ttm 227.57
Free cash flow ttm 28.66
Net debt Q (159.02)
Valuation
P/E 14.36
Forward P/E 14.90
Price / sales 0.61
Forward P/S Powerpack
Price / FCF 110.35
Price / book 0.83
Financial health
Current ratio Q 2.07 (at or above 1.5: strong)
Debt / equity Q 0.00 (at or below 0.5: strong)
Interest coverage Q 49.10
Growth
Revenue growth Q −19.96% (below 0%: shrinking)
Operating income growth Q −47.60% (below 0%: shrinking)
EPS, this year −47.81% (below 0%: weak)
EPS, next year A +10.86%
Revenue, next year A −19.21% (below 0%: weak)
EPS, past 5 yrs +14.46%
EPS, next 5 yrs A −9.95% (below 0%: weak)

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 0.9×, against a ten-year median of 0.9×; over the ten years it ranged from 0.6× in 2022 to 1.3× in 2021.
P/E against its own 10 years 84.23%
10-year low 10-year high
P/S against its own 10 years 58.01%
10-year low 10-year high
P/B against its own 10 years 19.00%
10-year low 10-year high
EV/Sales against its own 10 years 46.75%
10-year low 10-year high
EV/FCF against its own 10 years 99.74%
10-year low 10-year high

Dividends

Yield
1.92%
Annual rate
1.00
Payout ratio
28.2%
Growth, 2018–26
+33.4%/yr
  1. 0.10 ’18
  2. 0.46 ’19 +355
  3. 0.42 ’20 −8
  4. 0.60 ’21 +43
  5. 0.60 ’22 +0
  6. 0.70 ’23 +17
  7. 0.95 ’24 +36
  8. 1.00 ’25 +5
  9. 1.00 ’26 +0
paid change on the year, % Powerpack

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 727 598 229 159
Receivables 367 378 351 398
Inventory 5,134 5,528 5,671 5,981
Other — — — —
6,228 6,504 6,250 6,538
2023 2024 2025 Q'26
Payables 388 385 351 320
ST’ Debt — — — —
Other — — — —
1,147 1,181 1,083 3,166

Compound Annual Growth %

10y 5y 3y
Sales 7.48% 8.31% (3.33%)
Cash Flow 6.36% 1.56% 22.32%
Earnings 17.58% 7.65% (19.36%)
Book Value 8.72% 7.91% 2.14%

Earnings Trends EPS, adjusted, against the consensus

Q3 FY26 Estimate 0.88 Actual 1.05

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q4 FY25 1.79 1.92 Beat by 0.13
Q1 FY26 0.52 0.52 Met by 0.00
Q2 FY26 0.43 0.43 Met by 0.00
Q3 FY26 0.88 1.05 Beat by 0.17
Q4 FY26 1.21 — Reports 17 December 2026

EPS $

Feb May Aug Nov Year
’26 0.52 0.43 1.05 — —
’25 1.49 1.50 1.62 1.55 6.15
’24 1.76 2.15 2.04 2.52 8.45
’23 1.45 1.94 1.80 1.85 7.03
’22 1.47 2.32 2.86 2.47 9.09
’21 1.02 1.50 1.60 1.91 6.01
’20 0.63 0.55 0.83 1.12 3.13
Fiscal quarters ending in the months shown.

Revenue $m

Feb May Aug Nov Year
’26 1,077 1,112 1,297 — —
’25 1,392 1,530 1,620 1,694 6,236
’24 1,468 1,710 1,753 2,000 6,930
’23 1,384 1,765 1,587 1,674 6,411
’22 1,399 1,720 1,845 1,940 6,904
’21 1,142 1,441 1,467 1,675 5,725
’20 1,076 914 999 1,194 4,183
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Feb May Aug Nov Year
’26 (125) 32 (135) — —
’25 (334) 168 198 304 336
’24 29 61 (90) 363 363
’23 94 515 164 310 1,083
’22 (251) (64) 91 407 183
’21 (79) 61 (162) 143 (37)
’20 (10) 165 175 (19) 311
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Feb May Aug Nov Year
’26 (139) 22 (145) — —
’25 (346) 157 186 290 287
’24 19 51 (99) 353 323
’23 85 505 156 301 1,047
’22 (262) (75) 79 396 138
’21 (88) 52 (172) 132 (77)
’20 (17) 156 169 (26) 282
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

3.3
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to November

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Aug ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 3,595 4,369 4,547 4,553 4,183 5,725 6,904 6,411 6,930 6,236 5,181 +6.3% 5,038 5,144 5,468 (4.3%)
Gross margin, % 15.40 16.53 17.66 18.53 19.19 21.93 24.49 21.53 21.34 18.88 16.52 +3.5 pt
EBT 149 290 368 348 364 695 1,072 771 851 554 288 +15.7%
EBT margin, % 4.15 6.64 8.09 7.65 8.70 12.15 15.53 12.03 12.28 8.89 5.56 +4.7 pt
Net income 106 181 170 269 296 565 817 590 655 429 228 +16.8%
Per share, $
Per share, $ Revenue 41.94 50.89 51.80 51.74 46.24 63.33 79.48 79.30 92.71 91.84 85.17 +9.1%
Earnings 1.23 2.09 1.93 3.04 3.26 6.22 9.35 7.25 8.70 6.28 3.62 +19.9%
Cash flow 2.20 5.98 2.52 2.85 3.43 (0.41) 2.11 13.39 4.85 4.94 1.23 +9.4%
Capex (0.06) (0.09) (0.08) (0.39) (0.32) (0.44) (0.52) (0.44) (0.53) (0.71) (0.76) +32.7%
Free cash flow 2.15 5.88 2.44 2.46 3.12 (0.85) 1.59 12.95 4.33 4.23 0.47 +7.8%
Book value 20.11 22.44 23.78 27.08 29.47 33.40 42.15 47.13 54.32 57.45 62.49 +12.4%
Shares, m 86 86 88 88 90 90 87 81 75 68 63 (2.6%)
Valuation, ×
Valuation, × P/E 12.88 15.00 11.05 11.19 10.83 6.41 3.35 7.18 9.54 10.21 14.36 9.8
P/S 0.38 0.62 0.41 0.65 0.76 0.63 0.39 0.66 0.90 0.70 0.61 0.6
P/B 0.79 1.40 0.89 1.25 1.19 1.20 0.74 1.11 1.53 1.12 0.83 1.1
EV/Sales 0.95 0.98 0.73 0.96 1.02 0.82 0.55 0.81 1.05 0.93 0.91 0.9
EV/FCF 18.52 8.51 15.59 20.24 15.17 (60.95) 27.53 4.94 22.60 20.26 163.87 9.2
Cash, $m
Cash, $m Operating cash flow 189 513 222 251 311 (37) 183 1,083 363 336 75 +6.6%
Capex (5) (8) (7) (35) (29) (39) (45) (35) (39) (48) (46) +29.3%
Free cash flow 184 505 214 216 282 (77) 138 1,047 323 287 29 +5.1%
Balance, $m
Balance, $m Working capital 821 1,114 1,465 1,777 2,163 2,584 3,206 5,081 5,322 5,167 3,372 +22.7%
Net debt 1,717 1,294 816 1,287 1,091 1,059 1,077 963 1,094 1,464 (159) (1.8%)
Shareholders’ equity 1,723 1,926 2,088 2,383 2,666 3,019 3,661 3,810 4,061 3,901 3,802 +9.5%
Returns, %
Returns, % ROA 2.06 3.53 3.35 5.30 5.68 10.04 13.01 8.81 9.57 6.26 3.25 +4.2 pt
ROIC 2.98 5.63 7.73 5.78 5.52 10.36 13.94 9.80 9.60 6.18 4.60 +3.2 pt
ROE 6.15 9.83 8.44 11.95 11.67 19.77 24.33 15.68 16.52 10.70 5.88 +4.6 pt
People
People Employees 1,790 1,915 2,005 2,140 1,776 2,244 2,244 2,205 2,384 2,118 — +1.9%
Revenue/emp, $m 2.01 2.28 2.27 2.13 2.36 2.55 3.08 2.91 2.91 2.94 — +4.3%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Nov 2025 · latest quarter Aug 2026 · fundamentals updated 2 Nov 2026

KB Home vs peers in Residential Construction (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
IBP Installed Building Products, Inc. $5.9B 25.1× 24.3× +3.88% (above 0%: growing) −18.18% (below 0%: shrinking) −43.98% (below 0%: shrinking) 31.84% 11.34% Compare
SKY Champion Homes, Inc. $5.1B 27.2× 24.4× +6.22% (above 0%: growing) −1.22% (below 0%: shrinking) −57.16% (below 0%: shrinking) 25.53% 9.05% Compare
CVCO Cavco Industries, Inc. $4.9B 27.1× 27.5× +17.94% (above 0%: growing) +9.06% (above 0%: growing) −3.01% (below 0%: shrinking) 22.49% 10.65% Compare
MTH Meritage Homes Corporation $4.6B 15.9× 14.9× −17.41% (below 0%: shrinking) −25.71% (below 0%: shrinking) +66.18% (above 0%: growing) 17.88% 6.79% Compare
MHO M/I Homes, Inc. $3.4B 12.5× 12.0× −4.92% (below 0%: shrinking) −34.66% (below 0%: shrinking) −139.62% (below 0%: shrinking) 20.86% 7.74% Compare
KBH KB Home $3.2B 14.4× 14.9× −19.96% (below 0%: shrinking) −35.34% (below 0%: shrinking) −178.04% (below 0%: shrinking) 16.85% 5.54%
GRBK Green Brick Partners, Inc. $2.8B 10.6× 10.6× −8.82% (below 0%: shrinking) −23.16% (below 0%: shrinking) −346.83% (below 0%: shrinking) 29.84% 17.05% Compare
DFH Dream Finders Homes, Inc. $1.1B 12.8× 9.2× +2.71% (above 0%: growing) n/m −16.82% (below 0%: shrinking) 14.80% 0.31% Compare
LGIH LGI Homes, Inc. $1.1B 15.4× 15.7× +10.15% (above 0%: growing) +23.82% (above 0%: growing) +1,594.22% (above 0%: growing) 20.07% 6.10% Compare
Median of peers $4.0B 15.7× 15.3× +3.30% −18.18% −30.40% 21.68% 8.40%

All 19 Residential Construction stocks →

Pay and ownership Proxy statement filed 13 March 2026

Chief executive’s pay

Year Total pay Actually paid $100 invested
2025 14.72m (4.35m) 197.40
2024 16.71m 51.04m 249.67
2023 15.69m 43.71m 155.12
2022 15.81m 12.17m 92.08
2021 14.37m 25.13m 115.18
Total pay is as the Summary Compensation Table states it; actually paid revalues the year’s share awards at its end, as the SEC’s pay-versus-performance rule asks. $100 invested is what $100 in the company’s shares at the start of the earliest year shown was worth at each year’s end. Read the proxy statement

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KBH metrics, ten years each

stockrow.com/KBH · Data as of Nov 2, 2026 · For information only; not investment advice. · © 2026 stockrow.com