KB Home (KBH) financial statements: income statement, balance sheet and cash flow

KB Home's income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Nov 30, 2025 · FY), KB Home reported revenue of $6.2B (-10.0% year on year) and net income of $428.8M (-34.5% year on year).

Income statement

KB Home income statement, fiscal years

Line item	Nov 30, 2025 · FY	Nov 30, 2024 · FY	Nov 30, 2023 · FY	Nov 30, 2022 · FY
Revenues	$6.2B	$6.9B	$6.4B	$6.9B
Construction and land costs	($5.1B)	($5.5B)	($5.0B)	($5.2B)
Selling, general and administrative expenses	($652.3M)	($693.0M)	($637.8M)	($635.4M)
Operating income	$525.3M	$785.6M	$742.5M	$1.1B
Interest income and other	$7.4M	$32.1M	$13.8M	$704.0K
Equity in income (loss) of unconsolidated joint ventures	$22.5M	$33.2M	$15.0M	$19.9M
Loss on early extinguishment of debt	($954.0K)	$0	$0	($3.6M)
Total pretax income	$554.2M	$850.9M	$771.3M	$1.1B
Income tax expense	($125.4M)	($195.9M)	($181.1M)	($255.4M)
Net income	$428.8M	$655.0M	$590.2M	$816.7M
Basic (in dollars per share)	$6.28	$8.70	$7.25	$9.35
Diluted (in dollars per share)	$6.15	$8.45	$7.03	$9.09
Basic (in shares)	67.9M	74.8M	80.8M	86.9M
Diluted (in shares)	69.3M	77.0M	83.4M	89.3M

KB Home income statement, quarters

Line item	Aug 31, 2026 · Q3	May 31, 2026 · Q2	Feb 28, 2026 · Q1	Aug 31, 2025 · Q3
Revenues	$1.3B	$1.1B	$1.1B	$1.6B
Construction and land costs	($1.1B)	($938.4M)	($908.0M)	($1.3B)
Selling, general and administrative expenses	($148.1M)	($142.0M)	($132.6M)	($163.7M)
Operating income	$70.4M	$32.0M	$36.4M	$135.6M
Interest income and other	$4.5M	—	—	$1.9M
Equity in income of unconsolidated joint ventures	$6.2M	$4.1M	$2.7M	$5.8M
Total pretax income	$81.2M	$37.2M	$40.3M	$143.2M
Income tax expense	($15.9M)	($9.9M)	($6.9M)	($33.4M)
Net income	$65.3M	$27.3M	$33.4M	$109.8M
Basic (in dollars per share)	$1.07	$0.44	$0.53	$1.64
Diluted (in dollars per share)	$1.05	$0.43	$0.52	$1.61
Basic (in shares)	60.8M	61.8M	62.7M	66.4M
Diluted (in shares)	61.8M	62.7M	63.7M	67.7M

Balance sheet

KB Home balance sheet, fiscal years

Line item	Nov 30, 2025 · FY	Nov 30, 2024 · FY	Nov 30, 2023 · FY	Nov 30, 2022 · FY
Cash and cash equivalents	$230.4M	$599.2M	$727.3M	$330.2M
Receivables	$356.2M	$382.9M	$369.6M	$326.2M
Inventories	$5.7B	$5.5B	$5.1B	$5.5B
Investments in unconsolidated joint ventures	$85.7M	$89.0M	$78.5M	$73.5M
Property and equipment, net	$101.5M	$90.4M	$88.3M	$89.2M
Deferred tax assets, net	$88.7M	$102.4M	$119.5M	$160.9M
Other assets	$147.0M	$144.2M	$131.5M	$128.7M
Total assets	$6.7B	$6.9B	$6.6B	$6.7B
Accounts payable	$351.3M	$384.9M	$388.5M	$412.5M
Accrued expenses and other liabilities	$731.9M	$796.3M	$758.2M	$737.0M
Notes payable	$1.7B	$1.7B	$1.7B	$1.8B
Total Homebuilding	$2.8B	$2.9B	$2.8B	$3.0B
Financial services	$3.2M	$2.7M	$1.6M	$3.1M
Preferred stock — $1.00 par value; 10,000,000 shares authorized; none issued	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	74.5M	74.4M	101.3M	100.7M
Paid-in capital	$863.7M	$862.0M	$845.7M	$836.3M
Retained earnings	$3.6B	$3.3B	$3.7B	$3.1B
Accumulated other comprehensive loss	($3.5M)	($3.7M)	($3.7M)	($5.6M)
Treasury stock, at cost — 11,303,643 and 2,253,156 shares at November 30, 2025 and 2024, respectively	-663.4M	-141.6M	-737.4M	-341.5M
Total stockholders’ equity	$3.9B	$4.1B	$3.8B	$3.7B
Total liabilities and stockholders’ equity	$6.7B	$6.9B	$6.6B	$6.7B

KB Home balance sheet, quarters

Line item	Aug 31, 2026	May 31, 2026	Feb 28, 2026	Aug 31, 2025
Cash and cash equivalents	$160.1M	$200.8M	$201.8M	$332.3M
Receivables	$400.3M	$392.1M	$360.0M	$390.7M
Inventories	$6.0B	$5.7B	$5.7B	$5.8B
Investments in unconsolidated joint ventures	$89.5M	$92.4M	$90.2M	$82.5M
Property and equipment, net	$102.9M	$103.8M	$104.6M	$97.5M
Deferred tax assets, net	$88.7M	$88.7M	$88.7M	$102.4M
Other assets	$146.6M	$165.2M	$153.7M	$141.3M
Total assets	$7.0B	$6.8B	$6.7B	$7.0B
Accounts payable	$319.5M	$303.9M	$285.9M	$366.2M
Accrued expenses and other liabilities	$737.0M	$704.4M	$666.7M	$770.5M
Notes payable	$2.1B	$2.0B	$1.9B	$1.9B
Total Homebuilding	$3.2B	$3.0B	$2.8B	$3.1B
Financial services	$2.0M	$1.7M	$1.9M	$3.0M
Common stock — 63,969,624 and 74,477,254 shares issued at August 31, 2026 and November 30, 2025, respectively	64.0M	63.7M	74.5M	74.5M
Paid-in capital	$843.6M	$840.4M	$836.8M	$848.9M
Retained earnings	$3.1B	$3.0B	$3.6B	$3.5B
Accumulated other comprehensive loss	($3.5M)	($3.5M)	($3.5M)	($3.7M)
Treasury stock, at cost — 3,206,888 and 11,303,643 shares at August 31, 2026 and November 30, 2025, respectively	-185.3M	-136.4M	-698.5M	-561.2M
Total stockholders’ equity	$3.8B	$3.8B	$3.9B	$3.9B
Total liabilities and stockholders’ equity	$7.0B	$6.8B	$6.7B	$7.0B

Cash flow statement

KB Home cash flow statement, fiscal years

Line item	Nov 30, 2025 · FY	Nov 30, 2024 · FY	Nov 30, 2023 · FY	Nov 30, 2022 · FY
Net income	$428.8M	$655.0M	$590.2M	$816.7M
Equity in income of unconsolidated joint ventures	($22.5M)	($33.2M)	($15.0M)	($19.9M)
Distributions of earnings from unconsolidated joint ventures	$33.2M	$26.8M	$23.2M	$11.0M
Amortization of debt issuance costs	$3.6M	$3.5M	$3.4M	$2.3M
Depreciation and amortization	$37.3M	$37.3M	$36.4M	$32.3M
Deferred income taxes	$13.8M	$17.1M	$41.4M	$16.5M
Gain on sale of investment	$0	($12.5M)	—	—
Loss on early extinguishment of debt	$954.0K	$0	$0	$3.6M
Stock-based compensation	$46.2M	$34.5M	$34.6M	$29.5M
Inventory impairments and land option contract abandonments	$32.1M	$4.6M	$11.4M	$37.3M
Receivables	$5.0M	$16.6M	($12.9M)	($19.9M)
Inventories	($179.5M)	($385.8M)	$426.8M	($785.6M)
Accounts payable, accrued expenses and other liabilities	($75.2M)	($7.2M)	($62.2M)	$53.1M
Other, net	$11.8M	$6.2M	$5.4M	$6.5M
Net cash provided by operating activities	$335.7M	$362.7M	$1.1B	$183.4M
Contributions to unconsolidated joint ventures	($16.4M)	($14.5M)	($27.7M)	($28.4M)
Return of investments in unconsolidated joint ventures	$3.0M	$2.0M	$5.1M	$1.9M
Proceeds from sale of investment	$0	$1.7M	—	—
Purchases of property and equipment, net	($48.4M)	($39.3M)	($35.5M)	($45.2M)
Net cash used in investing activities	($61.8M)	($50.1M)	($58.1M)	($71.8M)
Borrowings under revolving credit facility	$740.0M	$0	$170.0M	$1.7B
Repayments under revolving credit facility	($740.0M)	$0	($320.0M)	($1.5B)
Payment of issuance costs	($9.9M)	$0	$0	($11.1M)
Payments on mortgages and land contracts due to land sellers and other loans	($73.0K)	($917.0K)	($3.8M)	($567.0K)
Issuance of common stock under employee stock plans	1.1M	10.4M	8.9M	0
Stock repurchases and excise taxes paid	($541.3M)	($353.7M)	($411.4M)	($150.0M)
Tax payments associated with stock-based compensation awards	($23.9M)	($25.0M)	($14.2M)	($15.9M)
Payments of cash dividends	($68.6M)	($71.6M)	($56.8M)	($52.5M)
Net cash used in financing activities	($642.6M)	($440.8M)	($627.5M)	($73.6M)
Net increase (decrease) in cash and cash equivalents	($368.8M)	($128.1M)	$397.1M	$38.1M
Cash and cash equivalents at beginning of year	$599.2M	$727.3M	$330.2M	$292.1M
Cash and cash equivalents at end of year	$230.4M	$599.2M	$727.3M	$330.2M

KB Home cash flow statement, quarters

Line item	Aug 31, 2026 · YTD	May 31, 2026 · YTD	Feb 28, 2026 · Q1	Aug 31, 2025 · YTD
Net income	$126.1M	$60.8M	$33.4M	$327.3M
Equity in income of unconsolidated joint ventures	($13.0M)	($6.8M)	($2.7M)	($18.4M)
Distributions of earnings from unconsolidated joint ventures	$13.0M	$8.5M	$4.0M	$27.7M
Amortization of debt issuance costs	$3.2M	$2.1M	$1.1M	$2.7M
Depreciation and amortization	$31.1M	$20.5M	$10.1M	$27.4M
Gain on sale of investment	($3.5M)	—	—	$0
Stock-based compensation	$11.3M	$11.5M	$6.0M	$25.1M
Inventory impairments and land option contract abandonments	$10.7M	$7.7M	$2.2M	$18.4M
Receivables	($32.7M)	($25.1M)	$2.8M	$7.2M
Inventories	($326.5M)	($73.6M)	($38.0M)	($330.0M)
Accounts payable, accrued expenses and other liabilities	($49.2M)	($93.3M)	($148.1M)	($63.8M)
Other, net	$725.0K	($5.9M)	$3.8M	$8.4M
Net cash provided by (used in) operating activities	($228.9M)	($93.5M)	($125.4M)	$31.8M
Contributions to unconsolidated joint ventures	($19.4M)	($8.9M)	($4.7M)	($10.6M)
Return of investments in unconsolidated joint ventures	$16.6M	$1.6M	$0	$3.0M
Proceeds from sale of investment	$20.0M	—	—	$0
Purchases of property and equipment, net	($32.5M)	($22.9M)	($13.2M)	($34.6M)
Net cash used in investing activities	($15.3M)	($30.3M)	($18.0M)	($42.2M)
Borrowings under revolving credit facility	$900.0M	$525.0M	$350.0M	$555.0M
Repayments under revolving credit facility	($485.0M)	($250.0M)	($150.0M)	($305.0M)
Payments on mortgages and land contracts due to land sellers and other loans	($641.0K)	($462.0K)	($315.0K)	$0
Issuance of common stock under employee stock plans	5.7M	558.0K	477.0K	652.0K
Stock repurchases and excise taxes paid	($180.1M)	($130.1M)	($50.0M)	($438.5M)
Tax payments associated with stock-based compensation awards	($18.3M)	($18.3M)	($18.2M)	($15.9M)
Payments of cash dividends	($47.7M)	($32.6M)	($17.3M)	($52.8M)
Net cash provided by (used in) financing activities	$173.8M	$94.1M	$114.7M	($256.5M)
Net decrease in cash and cash equivalents	($70.4M)	($29.7M)	($28.6M)	($266.9M)
Cash and cash equivalents at beginning of period	$230.4M	$230.4M	$230.4M	$599.2M
Cash and cash equivalents at end of period	$160.1M	$200.8M	$201.8M	$332.3M

KB Home score and earnings-call analysis · All covered companies

Figures as reported in SEC filings. General information, not investment advice.