Based in Los Angeles, CA, KB Home is a well-known homebuilder in the United States and one of the largest in the state. The company’s revenues are generated from its Homebuilding (accounting for 99.7% of first-quarter fiscal 2021 total revenues) and Financial Services (0.3%) operations.

The company’s Homebuilding operations include building and designing homes that cater to first time, move-up and active adult homebuyers on acquired or developed lands. KB Home also builds attached and detached single-family homes, town homes and condominiums.

There are four main reportable segments within the homebuilding reporting segment based on geographical presence: West Coast (comprising Washington and California), Southwest (comprising Arizona and Nevada), Central (constituting Colorado, and Texas) and Southeast (including Florida, North Carolina).

KB Home’s Financial Services operations offer mortgage banking, title and insurance services to homebuyers. This segment earns revenues mainly from insurance commissions and provision of title services.

KB Home had total liquidity of $1.36 billion as of Feb 28, 2021, including $787.6 million of available capacity under the unsecured revolving credit facility, and $569.8 million of cash and cash equivalents. Its net debt to capital was 30% as of Feb 28, 2021, which improved 510 basis points (bps) from Nov 30, 20120.

KB Home’s backlog totaled 9,238 homes (as of Feb 28, 2021), up 58.7% from a year ago. Potential housing revenues from backlog increased 74% from the prior-year period to $3.69 billion.