KB HOME

Listed Company

KBHCIK 0000795266NYSELarge AcceleratedOperative BuildersDelawareFY ends Nov 30

Period

FY 2025

Revenue

$6.24B

Net Income

$428.79M

Total Assets

$6.68B

Equity

$3.90B

Shares Out

62.65M

Op. Cash Flow

$335.68M

Business

KB HOME is a national homebuilder that designs, develops and delivers new residential homes across the United States. It offers a range of products and services including attached and detached single-family homes, townhomes and condominiums, personalized design choices via KB Home Design Studios, and financial services such as insurance, title services and mortgage origination through a joint venture. The company operates through local divisions and four reporting segments: West Coast, Southwest, Central and Southeast. KB HOME serves nine states across 49 major markets and sells homes via community sales offices, outside brokers and digital channels.

Summary from filing dated 2025-01-24

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-11-30	FY 2024 2024-11-30	FY 2023 2023-11-30	FY 2022 2022-11-30	FY 2021 2021-11-30
Revenues	6,236	6,930	6,411	6,904	5,725
Equity in income (loss) of unconsolidated joint ventures	23	33	15	20	23
Loss on early extinguishment of debt	−954,000	0	0	−4	−5
Total pretax income	554	851	771	1,072	695
Income tax expense	−125	−196	−181	−255	−131
Net income	429	655	590	817	565
Basic (in dollars per share)	6.28	8.7	7.25	9.35	6.22
Diluted (in dollars per share)	6.15	8.45	7.03	9.09	6.01
Basic (in shares)	68	75	81	87	90
Diluted (in shares)	69	77	83	89	94

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-11-30	FY 2024 2024-11-30	FY 2023 2023-11-30	FY 2022 2022-11-30	FY 2021 2021-11-30
Inventories	5,671	5,528	5,134	5,543	4,803
Property and equipment, net	101	90	88	89	76
Total assets	6,680	6,936	6,648	6,652	5,836
Accrued expenses and other liabilities	732	796	758	737	757
Notes payable	1,693	1,692	1,690	1,839	1,685
Preferred stock $1.00 par value; 10,000,000 shares authorized; none issued	0	0	0	0	0
Common stock $1.00 par value; 290,000,000 shares authorized at November 30, 2025 and 2024; 74,477,254 and 74,409,977 shares issued at November 30, 2025 and 2024, respectively	74	74	101	101	101
Paid-in capital	864	862	846	836	849
Retained earnings	3,630	3,269	3,677	3,144	2,379
Accumulated other comprehensive loss	−4	−4	−4	−6	−19
Treasury stock, at cost 11,303,643 and 2,253,156 shares at November 30, 2025 and 2024, respectively	−663	−142	−737	−341	−217
Total stockholders equity	3,901	4,061	3,810	3,661	3,019
Total liabilities and stockholders equity	6,680	6,936	6,648	6,652	5,836

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-11-30	FY 2024 2024-11-30	FY 2023 2023-11-30	FY 2022 2022-11-30	FY 2021 2021-11-30
Distributions of earnings from unconsolidated joint ventures	33	27	23	11	19
Amortization of debt issuance costs	4	3	3	2	3
Depreciation and amortization	37	37	36	32	29
Deferred income taxes	14	17	41	17	54
Gain on sale of investment	0	−13	0	0	—
Stock-based compensation	46	34	35	29	29
Inventory impairments and land option contract abandonments	32	5	11	37	12
Receivables	5	17	−13	−20	−32
Inventories	−179	−386	427	−786	−898
Accounts payable, accrued expenses and other liabilities	−75	−7	−62	53	182
Other, net	12	6	5	6	20
Net cash provided by operating activities	336	363	1,083	183	−37
Contributions to unconsolidated joint ventures	−16	−15	−28	−28	−12
Return of investments in unconsolidated joint ventures	3	2	5	2	13
Proceeds from sale of investment	0	2	0	0	—
Purchases of property and equipment, net	−48	−39	−35	−45	−39
Net cash used in investing activities	−62	−50	−58	−72	−38
Borrowings under revolving credit facility	740	0	170	1,685	340
Repayments under revolving credit facility	−740	0	−320	−1,535	−340
Payment of issuance costs	−10	0	0	−11	−5
Payments on mortgages and land contracts due to land sellers and other loans	−73,000	−917,000	−4	−567,000	−2
Issuance of common stock under employee stock plans	1	10	9	0	12
Stock repurchases and excise taxes paid	−541	−354	−411	−150	−188
Tax payments associated with stock-based compensation awards	−24	−25	−14	−16	−12
Payments of cash dividends	−69	−72	−57	−52	−54
Net cash used in financing activities	−643	−441	−627	−74	−315
Net increase (decrease) in cash and cash equivalents	−369	−128	397	38	−390

Filings

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