NYSE$KBH

KB Home · Q4 2025 earnings

Q4 2025 earnings · · After market close · Investor relations

Briefing

KB Home reported Q4 2025 revenues of $1.69B with net income of $101.5M and diluted EPS of $1.55.

Fourth-quarter revenues were $1.69 billion with net income of $101.5 million and diluted EPS of $1.55. Adjusted diluted EPS was $1.92 excluding inventory-related charges and accelerated equity compensation. Full-year diluted EPS was $6.15 as housing affordability and incentives weighed on orders.

  • Q4 revenue $1.69B; diluted EPS $1.55.
  • Adjusted diluted EPS $1.92 excluding charges.
  • FY25 diluted EPS $6.15.
  • Housing affordability and incentives discussed for 2026.

Headline financials

Total Revenue

$1.69B

Previous: $2B-15.5%
EPS (adj)

$1.92

Previous: $2.52-23.8%
Total ASP

$466K

No prior period
West Coast ASP

$650K

No prior period
Southwest ASP

$471K

No prior period
Central ASP

$330K

No prior period
Southeast ASP

$363K

No prior period
Homes Delivered

3.6K

No prior period
Operating Income Margin

6.9%

No prior period
Housing Gross Profit Margin

17.0%

No prior period
SG&A as % of Housing Revenue

10.0%

No prior period
Net Orders

2.4K

No prior period
Ending Backlog (Homes)

3.1K

No prior period
Net Orders per Community

3

No prior period
Cancellation Rate

18.0%

No prior period
Avg. Community Count

268

No prior period
Ending Community Count

271

No prior period
Total Liquidity

$1.43B

No prior period
Inventories

$5.67B

No prior period
Land & Development Investment

$665M

No prior period
Lots Owned/Under Contract

64.6K

No prior period
Debt to Capital Ratio

30.3%

No prior period
Book Value per Share

$61.75

No prior period
Net Income

$102M

Previous: $191M-46.7%
Operating Income

$117M

Previous: $229M-48.9%

Revenue & EPS history

KB Home · Revenue · Quarterly

$1.69B

Q4 2025-15.5%vs Q4 2024
Beat estimate in 9 of 16 quarters(56%)
ActualEstimate

Revenue by segment

KB Home · $1.39B total across 1 segment · Q1 2022

  • Housing
    $1.39B+22.6%

Forward guidance

The release discusses KB Home's outlook for upcoming periods, including capital allocation, operating priorities, and market risks, without relying solely on numeric EPS bridges.

Tailwinds

  • KB Home cites operational execution and demand trends supporting the outlook.
  • Balance sheet and liquidity actions aim to fund growth and returns.

Headwinds

  • Macro, pricing, and input-cost volatility could pressure margins.
  • Segment mix and one-time items may affect quarter-to-quarter comparability.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 18 quarterly earnings reports · overlaid with Q4 2025

Historical avgQ4 2025

+0.3%

Avg return

Earnings day

+1.0%

Avg return

5 days after

+2.2%

Avg return

30 days after

55%

36 / 65 earnings

Positive

+17.2%

Q4 2021

Best reaction

-18.3%

Q4 2014

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q2 2026
Q1 2026-0.8%+6.5%
Q4 2025-8.7%-8.5%-2.3%
Q3 2025-0.1%+2.0%+1.0%
Q2 2025+2.3%+1.1%+17.2%
Q1 2025-5.2%-6.6%-12.2%
Q4 2024+6.3%+7.4%+1.2%
Q3 2024-6.2%-2.6%-10.8%
Q2 2024+0.7%+1.5%+14.9%
Q1 2024+0.6%+0.2%-10.6%
Q4 2023-0.2%-3.1%-2.6%
Q3 2023-5.0%-4.3%-12.6%
Q2 2023+1.0%+0.2%+3.1%
Q1 2023+8.0%+9.4%+13.8%
Q4 2022+0.2%+0.7%+7.2%
Q3 2022-7.2%-9.2%-4.6%
Q2 2022+11.2%+14.4%+26.6%
Q1 2022-9.0%-10.5%-14.4%
Q4 2021+17.2%+16.3%-8.5%
Q3 2021+1.3%+2.1%+1.2%
Q2 2021-6.4%-6.1%-4.0%
Q1 2021+2.4%+3.6%+10.3%
Q4 2020+3.9%+6.1%+32.6%
Q3 2020-3.8%-6.5%-6.1%
Q2 2020-13.8%-12.1%-2.5%
Q1 2020-7.8%-7.0%+13.9%
Q4 2019-3.1%-2.4%+3.0%
Q3 2019+4.1%+8.1%+16.3%
Q2 2019+6.6%+8.9%+12.6%
Q1 2019+3.6%+1.3%+7.1%
Q4 2018-0.6%-2.7%+1.7%
Q3 2018-4.0%-6.3%-22.5%
Q2 2018+9.1%+6.0%-5.5%
Q1 2018-0.7%-5.4%-11.5%
Q4 2017+12.8%+8.1%-14.0%
Q3 2017+11.6%+14.1%+25.2%
Q2 2017+5.6%+5.2%+1.6%
Q1 2017+2.6%+3.7%+6.9%
Q4 2016+2.5%+0.0%+1.8%
Q3 2016-0.5%+2.6%-1.2%
Q2 2016+2.6%+2.3%+13.3%
Q1 2016+2.3%
Q4 2015-14.5%
Q3 2015+0.5%
Q2 2015+11.4%
Q1 2015+6.5%
Q4 2014-18.3%
Q3 2014-8.2%
Q2 2014+4.5%
Q1 2014+3.0%
Q4 2013-3.6%
Q3 2013+6.3%
Q2 2013-1.3%
Q1 2013+0.9%
Q4 2012-9.0%
Q3 2012+11.6%
Q2 2012+11.1%
Q1 2012-14.4%
Q4 2011-8.4%
Q3 2011+4.9%
Q2 2011+0.6%
Q1 2011-2.3%
Q4 2010+1.5%
Q3 2010-0.2%
Q2 2010-1.1%
Q1 2009+1.3%

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