KB Home (NYSE: KBH) is a U.S. residential homebuilding company that designs, builds, and sells new homes across nine states. Revenue is transactional, generated at closing when homes are delivered to buyers. Homebuilding operations accounted for 99.6% of total revenues in FY2025, with the remaining 0.4% from financial services including insurance products, title services, and mortgage originations through KBHS Home Loans, LLC, an unconsolidated joint venture. Founded in 1957 and headquartered in the United States, KB Home has delivered over 700,000 homes since inception (as of the 10-K filed 2026-01-23). The company targets first-time and first move-up buyers as its core customer segments, and competes against national, regional, and local homebuilders as well as resale homes, single-family rentals, and apartments. KB Home organizes its homebuilding operations into four reporting segments: West Coast, Southwest, Central, and Southeast, spanning 49 major markets as of November 30, 2025.

Revenue model

Transactional revenue recognized at home delivery closing. Homebuilding (99.6% of FY2025 total revenues) is the primary stream. Financial services (0.4% of FY2025 total revenues) contributes through insurance products, title services, and indirect mortgage originations via the KBHS Home Loans unconsolidated joint venture.

Products and services

Attached and detached single-family residential homes, townhomes, and condominiums offered in development communities, urban in-fill locations, and mixed-use projects. Financial services include homebuyer insurance products, title services in select markets, and residential consumer mortgage loan originations through KBHS Home Loans, LLC.

Customers and end markets

Primary buyers are first-time and first move-up homebuyers, with secondary segments including second move-up and active adult buyers. Demand is seasonal, with higher deliveries and revenues typically concentrated in the third and fourth fiscal quarters.

Value-chain role

Homebuilder and developer. KB Home acquires land, develops communities, and constructs homes using independent contractors for construction services such as carpentry, roofing, electrical, and plumbing. The company also coordinates design choices and options for buyers and provides ancillary financial services at point of sale.

Geographic exposure

Operations in nine states across 49 major markets as of November 30, 2025. Segments are West Coast (California, Idaho, Washington), Southwest (Arizona, Nevada), Central (Colorado, Texas), and Southeast (Florida, North Carolina). A reentry into the Atlanta, Georgia market was announced in FY2025 but no land had been acquired or homes listed as of November 30, 2025.

Competitors

National homebuilders larger in scale with greater financial resources (unnamed in filing), Regional homebuilders, Local homebuilders, Resale home market, Single-family rental operators, Apartment and rental housing providers

Source: SEC 10-K, filed 2026-01-23

Industry: Operative Builders Peers: Cavco Industries Inc Meritage Homes Corp D.R. Horton Inc Installed Building Products Inc LGI Homes Inc SEKISUI HOUSE U.S., INC. TopBuild Corp Champion Homes Inc Taylor Morrison Home Corp Toll Brothers Inc