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Large US homebuilder known for build-to-order homes targeting first-time and first move-up buyers, concentrated on the West Coast.
Large US homebuilder known for build-to-order homes targeting first-time and first move-up buyers, concentrated on the West Coast.
Recognises revenue when a home is handed over, but sells most homes months earlier, so the order backlog shows what is coming. Buyers mainly pick a floor plan and options before building starts rather than the company building homes on spec, which limits unsold inventory. Mortgages are arranged through a joint venture lender.
Moat: none (scale, brand). Commodity homebuilding; build-to-order model differentiates slightly from spec-heavy peers.
Headquarters: Los Angeles, California, United States · Founded: 1957 · Employees: 2,118
Size KB Home (KBH) is a United States Consumer Discretionary company (Homebuilding) with a market value of $3.08B, the 1529th largest of 3,117 United States companies the cockpit tracks. Shares closed at $50.70 on 6 Nov 2026.
Performance Over six months the shares gained 2.4%, against +2.7% for the median peer and -1.1% for the United States market (cap-weighted) — 11th highest of 21 in its peer set.
Growth Revenue fell 20.8% over the last twelve months (peer median +7.9%); the operating margin is 5.1% (peer median 9.1%).
Valuation It trades at 14.9× forward earnings against a peer median of 13.0× (8th most expensive of 18).
Price implies For today's price to make sense, revenue must grow about 15% a year for seven years (Req g). Recent delivered growth is +8%, so the hurdle is +7 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 5.5 points below its cost of capital (9.1% WACC).
Credit KB Home has 4 bonds outstanding ($1.34B), rated BB by the agencies and trading like BB+ at a weighted spread of 163 bp.
Short interest Short interest is 15.5% of the free float (15 Oct 2026).
Next results Next results expected around 18 Dec 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $5.18B | $6.24B | $6.93B | $6.41B | $6.90B |
| Revenue growth | — | -10% | +8% | -7% | — |
| Gross profit | $856M | $1.19B | $1.48B | $1.39B | $1.69B |
| EBITDA | $305M | $579M | $827M | $790M | $1.09B |
| Net income | $226M | $426M | $650M | $586M | $812M |
| Free cash flow | $31.6M | $290M | $325M | $1.05B | $140M |
| Capital expenditure | $46.3M | $48.4M | $39.3M | $35.5M | $45.2M |
| Total debt | $2.14B | $1.71B | $1.71B | $1.72B | $1.87B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| KB Home KBH | $3.08B | +2% | -21% | 5% | 14.9× | 15.2% |
| D. R. Horton DHI | $41.3B | +3% | -4% | 11% | 17.4× | 7.8% |
| Lennar LEN | $21.1B | 0% | -8% | 5% | 18.9× | 11.4% |
| PulteGroup PHM | $24.4B | +13% | -9% | 15% | 14.3× | 4.7% |
| Meritage Homes MTH | $4.38B | +4% | -15% | 7% | 16.2× | n/a |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | KBH | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +14.3% | +4.4% | 4th highest of 21 |
| 6-month return | +2.4% | +2.7% | 11th highest of 21 |
| Distance from 52-week high | -25.0% | -21.4% | 8th lowest of 21 |
| Revenue growth (TTM) | -20.8% | +7.9% | 3rd lowest of 21 |
| Operating margin | 5.1% | 9.1% | 5th lowest of 21 |
| Forward P/E | 14.9× | 13.0× | 8th most expensive of 18 |
| Growth the price implies (Req g, 7 yrs) | 15.2% | 3.2% | 3rd most demanding of 17 |
| Growth delivered (Del g) | +8.3% | +8.6% | 9th highest of 17 |
| Hurdle (Req g minus delivered) | +6.9 pp | -2.0 pp | 3rd most demanding of 17 |
| ROIC minus cost of capital | -5.5 pp | -1.6 pp | 7th lowest of 21 |
| EV / EBITDA | 16.6× | 8.8× | 2nd most expensive of 17 |
| Net debt / EBITDA | 6.5× | 1.0× | 3rd most indebted of 18 |
| Bond spread | 163 bp | n/a | — |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| KB Home KBH | United States | $3.08B | +2% | -21% | 5% | 14.9× | 15.2% | +8.3% |
| Chengdu Hi-Tech Development 000628.SZ | China | $3.10B | -39% | -32% | 4% | n/a | 57.5% | -2.1% |
| M/I Homes MHO | United States | $3.29B | 0% | -6% | 8% | 12.8× | 8.3% | +7.7% |
| Bellway p.l.c BWY.L | United Kingdom | $3.42B | +19% | +14% | 10% | 15.4× | 3.2% | +0.3% |
| Green Brick Partners GRBK | United States | $2.75B | -2% | -10% | 19% | 12.2× | 7.8% | +15.9% |
| Iida 3291.T | Japan | $3.68B | -4% | +7% | 7% | 8.1× | n/a | n/a |
| Taylor Wimpey TW..L | United Kingdom | $3.88B | +5% | +9% | 10% | 16.0× | 5.9% | +6.6% |
| Ruentex Development 9945.TW | Taiwan | $2.27B | +13% | +37% | 19% | n/a | -1.0% | +15.5% |
| Berkeley BKG.L | United Kingdom | $4.44B | +12% | -4% | 19% | 13.0× | 1.2% | +1.6% |
| Haseko 1808.T | Japan | $4.50B | -1% | +10% | 8% | 9.9× | -11.6% | +9.5% |
| Sumitomo Forestry 1911.T | Japan | $4.87B | -10% | +14% | 6% | 12.5× | 2.8% | +15.2% |
| Cavco Industries CVCO | United States | $4.87B | +32% | +12% | 10% | 24.2× | 15.2% | +15.2% |
| Cairn Homes CRN.L | United Kingdom | $1.92B | +18% | +44% | 18% | 11.9× | -0.7% | +28.6% |
| Champion Homes SKY | United States | $4.96B | +25% | +3% | 8% | 24.2× | 10.8% | +13.4% |
| GS Engineering & Construction 006360.KS | South Korea | $1.86B | -22% | -15% | 3% | 16.8× | -9.8% | +4.2% |
| Katitas 8919.T | Japan | $1.69B | +11% | +20% | 12% | 18.6× | n/a | n/a |
| Persimmon PSN.L | United Kingdom | $5.64B | +22% | +17% | 11% | 13.0× | n/a | n/a |
| Open House 3288.T | Japan | $5.66B | -15% | +6% | 12% | 7.3× | -8.1% | +18.2% |
| Barratt Redrow BTRW.L | United Kingdom | $6.07B | +32% | +9% | 9% | 14.5× | 3.3% | +4.7% |
| Century Communities CCS | United States | $1.56B | 0% | -7% | 2% | 29.2× | n/a | n/a |
| Gemdale 600383.SS | China | $1.45B | -26% | -47% | -24% | n/a | 10.8% | -15.6% |
KB Home has 4 bonds outstanding with $1.34B face value. The agencies rate it BB; its bonds trade like BB+. Weighted yield 6.09%, a spread of 163 bp over government bonds.