KB HOME
KBH · Operative Builders · 62.6M shares · -3%/yr ↓ buyback · EDGAR filings ↗
Net buyback after stock comp: $377M (gross $411M, SBC $35M)
Reference price $60.08 · est. market cap ~$3.8B — last insider sale, 2025-11-04 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
C63Mid-pack entry-level homebuilder with below-median returns and a sharp earnings decline in a soft market.
Strengths
- Solid balance sheet/liquidity (upsized $1.2B facility) and disciplined capital allocation with buybacks
- Net margin 6.9% (54th pct) and FCF positive ($287M)
Risks
- ROE of 11% sits below the sector median (33rd pct); net income fell 35% and gross margin compressed to 18.6%
- Affordability-stressed first-time buyer base forced price cuts and concessions
Notable findings
- Exec changeRecent 8-K item 5.02 8-K ↗
- Buying back stockNet buyback — share count -3%/yr over 4y
- Revenue declineRevenue -36.4% YoY
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Net margin
6.9%
Return on equity
11.0%
Return on assets
6.4%
Revenue growth (QoQ)
-36.4%
Net-income growth
-34.5%
Free cash flow
$287M
Tangible book value
$3.9B
Stock comp / revenue
0.7%
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-04-23 | McGibney Robert V. | Grant | 53K | — |
| 2026-04-23 | Eltife Kevin Paul | Grant | 2.9K | — |
| 2026-04-23 | Collins Arthur Reginald | Grant | 2.9K | — |
| 2026-04-23 | Gilligan Thomas W. | Grant | 2.9K | — |
| 2026-04-23 | HENRY CHERYL JANET | Grant | 2.9K | — |
| 2026-04-23 | Barra Jose Miguel | Grant | 5.1K | — |
| 2026-04-23 | Dominguez Dorene | Grant | 2.9K | — |
| 2026-04-23 | Kozlak Jodee A | Grant | 3.3K | — |
| 2026-04-23 | Gabriel Stuart A | Grant | 2.9K | — |
| 2026-04-17 | Dillard Robert R | Tax withheld | 2.3K | $54.28 |
| 2026-02-20 | MEZGER JEFFREY T | Tax withheld | 107K | $65.30 |
| 2026-02-20 | McGibney Robert V. | Grant | 100K | — |
| 2026-02-20 | McGibney Robert V. | Tax withheld | 43K | $65.30 |
| 2026-02-20 | Woram Brian J | Grant | 42K | — |
| 2026-02-20 | Woram Brian J | Tax withheld | 22K | $65.30 |
| 2026-02-20 | MEZGER JEFFREY T | Grant | 249K | — |
| 2026-02-20 | PRAW ALBERT Z | Grant | 45K | — |
| 2026-02-20 | PRAW ALBERT Z | Tax withheld | 23K | $65.30 |
| 2026-02-20 | HOLLINGER WILLIAM R | Grant | 26K | — |
| 2026-02-20 | HOLLINGER WILLIAM R | Tax withheld | 13K | $65.30 |
| 2026-01-25 | Woram Brian J | Tax withheld | 172 | $59.04 |
| 2026-01-25 | MEZGER JEFFREY T | Tax withheld | 3.2K | $59.04 |
| 2026-01-19 | MEZGER JEFFREY T | Tax withheld | 8.6K | $61.32 |
| 2026-01-19 | Woram Brian J | Tax withheld | 1.1K | $61.32 |
| 2026-01-19 | HOLLINGER WILLIAM R | Tax withheld | 318 | $61.32 |
| 2026-01-18 | Woram Brian J | Tax withheld | 97 | $61.32 |
| 2026-01-18 | MEZGER JEFFREY T | Tax withheld | 4.0K | $61.32 |
| 2025-11-04 | PRAW ALBERT Z | Sell | 20K | $60.08 |
| 2025-07-15 | McGibney Robert V. | Sell | 14K | $53.52 |
| 2025-07-15 | McGibney Robert V. | Option exercise | 14K | $14.92 |
| 2025-05-16 | Collins Arthur Reginald | Sell | 5.0K | $54.38 |
| 2025-04-17 | Weaver James C. | Grant | 3.7K | — |
| 2025-04-17 | Kozlak Jodee A | Grant | 4.3K | — |
| 2025-04-17 | HENRY CHERYL JANET | Grant | 3.1K | — |
| 2025-04-17 | Gilligan Thomas W. | Grant | 3.1K | — |
| 2025-04-17 | Gabriel Stuart A | Grant | 3.1K | — |
| 2025-04-17 | Dillard Robert R | Grant | 19K | — |
| 2025-04-17 | Eltife Kevin Paul | Grant | 3.1K | — |
| 2025-04-17 | Dominguez Dorene | Grant | 3.1K | — |
| 2025-04-17 | Collins Arthur Reginald | Grant | 3.1K | — |
| 2025-04-17 | Barra Jose Miguel | Grant | 5.1K | — |
| 2025-02-21 | Woram Brian J | Tax withheld | 20K | $61.26 |
| 2025-02-21 | MEZGER JEFFREY T | Grant | 229K | — |
| 2025-02-21 | MEZGER JEFFREY T | Tax withheld | 98K | $61.26 |
| 2025-02-21 | McGibney Robert V. | Grant | 92K | — |
| 2025-02-21 | McGibney Robert V. | Tax withheld | 39K | $61.26 |
| 2025-02-21 | Woram Brian J | Grant | 39K | — |
| 2025-02-21 | PRAW ALBERT Z | Grant | 41K | — |
| 2025-02-21 | PRAW ALBERT Z | Tax withheld | 21K | $61.26 |
| 2025-02-21 | HOLLINGER WILLIAM R | Grant | 24K | — |
| 2025-02-21 | HOLLINGER WILLIAM R | Tax withheld | 12K | $61.26 |
| 2025-01-28 | Kaminski Jeff | Option exercise | 28K | $16.21 |
| 2025-01-28 | Kaminski Jeff | Sell | 26K | $68.75 |
| 2025-01-28 | Kaminski Jeff | Sell | 1.0K | $69.41 |
| 2025-01-23 | MEZGER JEFFREY T | Grant | 22K | — |
| 2025-01-23 | Woram Brian J | Grant | 1.0K | — |
| 2025-01-19 | HOLLINGER WILLIAM R | Tax withheld | 317 | $67.89 |
| 2025-01-19 | MEZGER JEFFREY T | Tax withheld | 8.6K | $67.89 |
| 2025-01-19 | Woram Brian J | Tax withheld | 767 | $67.89 |
| 2025-01-18 | MEZGER JEFFREY T | Tax withheld | 4.0K | $67.89 |
| 2025-01-18 | Woram Brian J | Tax withheld | 71 | $67.89 |
All non-derivative Form 4 activity (SEC), newest first.
Notable events (8-K)
| Date | Items | |
|---|---|---|
| 2026-06-23 | ResultsExhibits | filing ↗ |
| 2026-05-01 | Exec/director change | filing ↗ |
| 2026-04-24 | Shareholder vote | filing ↗ |
| 2026-03-24 | ResultsExhibits | filing ↗ |
| 2026-02-26 | Exec/director changeOtherExhibits | filing ↗ |
| 2026-01-28 | Exec/director changeExhibits | filing ↗ |
| 2026-01-23 | Exec/director change | filing ↗ |
| 2026-01-07 | Exec/director change | filing ↗ |
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-06-23 | 2026-06-23 | 0000795266-26-000060 ↗ |
| 8-K | 2026-05-01 | 2026-04-29 | 0000795266-26-000051 ↗ |
| 8-K | 2026-04-24 | 2026-04-23 | 0000795266-26-000044 ↗ |
| 10-Q | 2026-04-09 | 2026-02-28 | 0000795266-26-000042 ↗ |
| 8-K | 2026-03-24 | 2026-03-24 | 0000795266-26-000037 ↗ |
| 8-K/A | 2026-02-26 | 2026-01-22 | 0000795266-26-000033 ↗ |
| 8-K | 2026-01-28 | 2026-01-22 | 0000795266-26-000024 ↗ |
| 10-K | 2026-01-23 | 2025-11-30 | 0000795266-26-000017 ↗ |
| 8-K | 2026-01-23 | 2026-01-22 | 0000795266-26-000019 ↗ |
| 8-K | 2026-01-07 | 2026-01-06 | 0000795266-26-000009 ↗ |
| 8-K | 2025-12-18 | 2025-12-18 | 0000795266-25-000109 ↗ |
| 8-K | 2025-11-13 | 2025-11-12 | 0001193125-25-278147 ↗ |