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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. In the quarter to August 2026, revenue fell 20.0%, EPS fell 35.3% and free cash flow fell 178.0%, each against the same quarter a year earlier. Dividend growth for five consecutive years.

43.30 0.35 −0.80%
Market cap
$2.7B
P/E
12.0×
Fwd P/E
16.2×
Dividend yield
2.31%
F-score
5/9
Altman Z
3.83
Beneish M
−2.41
Dividend safety
75/100
Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

Total sells 19.09
Totals in millions of $.
Dec 25 Mar 26 Jun 26 Sep 26
Buy — — — — — — — — — — — —
Sell 1 — — — — — — — 2 2 — —
Insider Ownership 4.72%

Capital & Financial Ratios $m

Market Cap 2,650.00
Revenue 5,180.93
Net Income 227.57
Free Cash Flow 28.66
Net Debt (159.02)
Current Ratio 2.07 (at or above 1.5: strong)
Debt/Equity 0.00 (at or below 0.5: strong)
P/E ratio 11.96
Fwd P/E 16.20
P/S ratio 0.51
P/B ratio 0.69
Past 5Y EPS Growth 14.46%
This Y EPS Growth (47.76%) (below 0%: weak)
Next Y EPS Growth 12.40%
Next Y revenue growth (19.21%) (below 0%: weak)
Next 5Y EPS Growth (9.46%) (below 0%: weak)

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 0.8×, 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 66.64%
10-year low 10-year high
P/S against its own 10 years 36.01%
10-year low 10-year high
P/B against its own 10 years 3.10%
10-year low 10-year high
EV/Sales against its own 10 years 24.44%
10-year low 10-year high
EV/FCF against its own 10 years 98.76%
10-year low 10-year high

Dividends

Payout Ratio 0.28
Annual Dividend Rate 1.00
Annual Dividend Yield 2.31%
total individual payouts
2028 Powerpack
2027 Powerpack
2026 1.00
0.25
0.25
0.25
2025 1.00
0.25
0.25
0.25
0.25
2024 0.95
0.20
0.25
0.25
0.25
2023 0.70
0.15
0.15
0.20
0.20
2022 0.60
0.15
0.15
0.15
0.15
2021 0.60
0.15
0.15
0.15
0.15
2020 0.42
0.09
0.09
0.09
0.15
2019 0.46
0.25
0.03
0.09
0.09
2018 0.10
0.03
0.03
0.03
0.03
2017 0.10
0.03
0.03
0.03
0.03
2016 0.10
0.03
0.03
0.03
0.03
predictions special payouts not included in total or ratios

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%

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.

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.

Target Price Range

Analyst price targets

Recommendation Rating

3.3
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to November

Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Trend 2026e 2027e 2028e
Price, $
Price, $ Low 9.04 15.51 16.82 18.68 9.82 31.76 24.78 32.04 58.05 48.90

Analyst estimates 2026–2028

Powerpack
High 17.38 32.48 38.80 37.40 42.20 52.48 50.20 63.53 89.70 72.64
People
People Employees 1,790 1,915 2,005 2,140 1,776 2,244 2,244 2,205 2,384 2,118
Revenue/emp, $m 2.01 2.28 2.27 2.13 2.36 2.55 3.08 2.91 2.91 2.94
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
Gross margin, % 15.40 16.53 17.66 18.53 19.19 21.93 24.49 21.53 21.34 18.88
EBT 149 290 368 348 364 695 1,072 771 851 554
EBT margin, % 4.15 6.64 8.09 7.65 8.70 12.15 15.53 12.03 12.28 8.89
Net income 106 181 170 269 296 565 817 590 655 429
Depreciation 11 9 9 32 31 31 35 40 41 41
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
Earnings 1.23 2.09 1.93 3.04 3.26 6.22 9.35 7.25 8.70 6.28
Cash flow 2.20 5.98 2.52 2.85 3.43 (0.41) 2.11 13.39 4.85 4.94
Capex (0.06) (0.09) (0.08) (0.39) (0.32) (0.44) (0.52) (0.44) (0.53) (0.71)
Free cash flow 2.15 5.88 2.44 2.46 3.12 (0.85) 1.59 12.95 4.33 4.23
Book value 20.11 22.44 23.78 27.08 29.47 33.40 42.15 47.13 54.32 57.45
Shares, m 86 86 88 88 90 90 87 81 75 68
Valuation, ×
Valuation, × P/E 12.88 15.00 11.05 11.19 10.83 6.41 3.35 7.18 9.54 10.21
P/S 0.38 0.62 0.41 0.65 0.76 0.63 0.39 0.66 0.90 0.70
P/B 0.79 1.40 0.89 1.25 1.19 1.20 0.74 1.11 1.53 1.12
EV/Sales 0.95 0.98 0.73 0.96 1.02 0.82 0.55 0.81 1.05 0.93
EV/FCF 18.52 8.51 15.59 20.24 15.17 (60.95) 27.53 4.94 22.60 20.26
Cash, $m
Cash, $m Operating cash flow 189 513 222 251 311 (37) 183 1,083 363 336
Capex (5) (8) (7) (35) (29) (39) (45) (35) (39) (48)
Free cash flow 184 505 214 216 282 (77) 138 1,047 323 287
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
Total debt 2,309 2,015 1,390 1,741 1,772 1,350 1,406 1,690 1,692 1,693
Net debt 1,717 1,294 816 1,287 1,091 1,059 1,077 963 1,094 1,464
Shareholders’ equity 1,723 1,926 2,088 2,383 2,666 3,019 3,661 3,810 4,061 3,901
Returns, %
Returns, % ROA 2.06 3.53 3.35 5.30 5.68 10.04 13.01 8.81 9.57 6.26
ROIC 2.98 5.63 7.73 5.78 5.52 10.36 13.94 9.80 9.60 6.18
ROE 6.15 9.83 8.44 11.95 11.67 19.77 24.33 15.68 16.52 10.70
Negative figures in brackets.

All 10 years →

Fiscal years to Nov 2025 · latest quarter Aug 2026 · fundamentals updated 15 Oct 2026

Charts ten years each

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. $5.0B 19.9× 23.8× +2.30% (above 0%: growing) −3.56% (below 0%: shrinking) −30.95% (below 0%: shrinking) 33.29% 12.16% Compare
SKY Champion Homes, Inc. $4.3B 22.7× 22.0× +1.27% (above 0%: growing) −21.24% (below 0%: shrinking) −4.47% (below 0%: shrinking) 25.24% 8.49% Compare
CVCO Cavco Industries, Inc. $4.1B 22.3× 22.8× +9.54% (above 0%: growing) −15.56% (below 0%: shrinking) +5.65% (above 0%: growing) 22.07% 8.65% Compare
MTH Meritage Homes Corporation $3.9B 12.3× 13.6× −13.77% (below 0%: shrinking) −33.01% (below 0%: shrinking) +2,516.98% (above 0%: growing) 18.60% 8.19% Compare
MHO M/I Homes, Inc. $3.2B 10.3× 10.9× −8.54% (below 0%: shrinking) −31.86% (below 0%: shrinking) −11.50% (below 0%: shrinking) 22.15% 9.53% Compare
GRBK Green Brick Partners, Inc. $2.7B 9.2× 12.0× −8.70% (below 0%: shrinking) −8.06% (below 0%: shrinking) −113.25% (below 0%: shrinking) 31.90% 19.54% Compare
KBH KB Home $2.7B 12.0× 16.2× −19.96% (below 0%: shrinking) −35.34% (below 0%: shrinking) −178.04% (below 0%: shrinking) 5.54% 5.54%
LGIH LGI Homes, Inc. $1.0B 15.1× 17.3× +5.70% (above 0%: growing) −14.71% (below 0%: shrinking) +254.15% (above 0%: growing) 19.71% 5.61% Compare
BZH Beazer Homes USA, Inc. $891.4M — (loss-making) — (loss-making) −5.33% (below 0%: shrinking) n/m −119.25% (below 0%: shrinking) 12.80% (2.20%) Compare
Median of peers $3.6B 15.1× 17.3× −2.03% −15.56% −7.98% 22.11% 8.57%

All 19 Residential Construction stocks →

KB Home (KBH) key facts

  • Concern: KB Home’s revenue for fiscal 2025 (year ended November 2025) was $6.2 billion, down 10.0% from fiscal 2024.
  • Concern: Net income was $428.8 million, or $6.28 per share (basic), a net margin of 6.83%.
  • KB Home (KBH) is a Residential Construction company in the Consumer Cyclical sector, listed on the New York Stock Exchange.
  • As of October 16, 2026, KBH traded at $43.30, a market capitalization of $2.7 billion.
  • At that price the stock trades at 12.0× trailing-twelve-month earnings and 0.5× sales; its P/E is higher than 67% of its own readings over the past ten years.
  • KB Home pays an annual dividend of $1.00 per share, a yield of 2.31%, with a payout ratio of 28.2%.
  • Return on equity was 10.7% and debt-to-equity 0.00.
  • Its Piotroski F-score is 5 out of 9 and its Altman Z-score is 3.83 (safe zone) for fiscal 2025.

Source: company filings (standardised) and stockrow calculations · fundamentals updated Oct 15, 2026.

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stockrow.com/KBH · Data as of Oct 15, 2026 · For information only; not investment advice. · © 2026 stockrow.com