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 Homebuilding (accounting for 99.5% of fiscal 2023 total revenues) and Financial Services (0.5%) 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, California and Idaho), 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 the provision of title services.

The company ended the first quarter of fiscal 2024 with $668.1 million of cash and cash equivalents compared with $727.1 million in fiscal 2023 end. The company has total liquidity of $1.75 billion, including $1.08 billion of available capacity under the unsecured revolving credit facility, with no outstanding cash borrowings. Additionally, the company ended the fiscal first quarter with a debt to capital of 30.4%, sequentially down 30 basis points (bps) from 30.7% and down 220 bps year over year from 32.6%. The company has no debt maturities until its 2026 term loan expiration and senior note maturity in June 2027. During the fiscal first quarter, the company also repurchased 826,663 shares of its outstanding common stock for $50 million. As of Feb 29, 2024, it had $113.6 million remaining under its current common stock repurchase authorization.