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Residential construction · Consumer Cyclical · Fiscal year ends Nov 30
KB Home reported revenue of $6.2B in the fiscal year ended Nov 2025, down 10.0% from the year before. Net income was $429M. Operating cash flow of $336M less capital expenditure of $48M left free cash flow of $287M.
Ranks among the 13 residential construction companies we cover (1st = best; for debt, the least indebted). Green = top third, red = bottom third.
Last 5 fiscal years
| Fiscal year | Nov 2021 | Nov 2022 | Nov 2023 | Nov 2024 | Nov 2025 |
|---|---|---|---|---|---|
| Revenue | 5,725 | 6,904 | 6,411 | 6,930 | 6,236 |
| Income tax | 131 | 255 | 181 | 196 | 125 |
| Net income | 565 | 817 | 590 | 655 | 429 |
| Diluted EPS | 6.01 | 9.09 | 7.03 | 8.45 | 6.15 |
| Diluted shares | 93.6 | 89.3 | 83.4 | 77.0 | 69.3 |
| Fiscal year | Nov 2021 | Nov 2022 | Nov 2023 | Nov 2024 | Nov 2025 |
|---|---|---|---|---|---|
| Cash & equivalents | 292 | 330 | 727 | 599 | 230 |
| Net PP&E | 76.3 | 89.2 | 88.3 | 90.4 | 101 |
| Total assets | 5,836 | 6,652 | 6,648 | 6,936 | 6,680 |
| Deferred revenue | 71.0 | 76.7 | 58.9 | 44.0 | 28.0 |
| Total liabilities | 2,816 | 2,991 | 2,838 | 2,876 | 2,779 |
| Shareholders' equity | 3,019 | 3,661 | 3,810 | 4,061 | 3,901 |
| Fiscal year | Nov 2021 | Nov 2022 | Nov 2023 | Nov 2024 | Nov 2025 |
|---|---|---|---|---|---|
| Operating cash flow | −37.3 | 183 | 1,083 | 363 | 336 |
| Capital expenditure | 39.4 | 45.2 | 35.5 | 39.3 | 48.4 |
| Free cash flow | −76.7 | 138 | 1,047 | 323 | 287 |
| Depreciation & amortisation | 28.6 | 32.3 | 36.4 | 37.3 | 37.3 |
| Stock-based compensation | 28.9 | 29.5 | 34.6 | 34.5 | 46.2 |
| Share buybacks | 188 | 150 | 411 | 354 | 541 |
| Dividends paid | 54.1 | 52.5 | 56.8 | 71.6 | 68.6 |
| Dividend per share | – | 0.60 | 0.70 | 0.95 | 1.00 |
| Fiscal year | Nov 2021 | Nov 2022 | Nov 2023 | Nov 2024 | Nov 2025 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | 20.6% | −7.1% | 8.1% | −10.0% |
| EPS growth (YoY) | – | 51.2% | −22.7% | 20.2% | −27.2% |
| Net margin | 9.9% | 11.8% | 9.2% | 9.5% | 6.9% |
| Return on equityBlank when equity is negative | 18.7% | 22.3% | 15.5% | 16.1% | 11.0% |
| Free cash flow margin | −1.3% | 2.0% | 16.3% | 4.7% | 4.6% |
| Cash conversion (CFO ÷ net income) | −0.07x | 0.22x | 1.83x | 0.55x | 0.78x |
Standardised figures from the company's XBRL filings with the SEC (10-K, 10-Q). Line items follow US GAAP tags, so a company's own statement layout may differ and some lines show “–” where the company does not report that item. Ratios are calculated from these figures. For education only; not investment advice or a recommendation.