KB HOME: management transactions · United States · SEC (Form 4)

About KB HOME

KB Home (NYSE: KBH) is one of the best-known U.S. homebuilders and a clear play on the American new-home construction cycle. Founded in the late 1950s, the company has built its brand around delivering personalized homes and customer-focused communities for a broad buyer base. KB Home is headquartered in Los Angeles, California, and its operating footprint is almost entirely domestic: management says the company operates in 49 markets across nine states. For investors, that makes KB Home a highly U.S.-centric residential housing exposure, with earnings sensitivity to mortgage rates, housing affordability, land availability, and household formation trends. The core business is the design, construction, and sale of new single-family homes and related residential communities. KB Home’s model is differentiated by customization: buyers can tailor a number of design features to match their preferences and budget, which is a key commercial advantage in a market where affordability and value proposition matter. The company’s messaging also emphasizes strong customer relationships and a guided homebuying experience, positioning it as a service-oriented builder rather than a pure volume operator. This customer-centric approach is important in a fragmented industry where local execution, land strategy, and community-level branding can materially affect margins and absorption rates. Competitively, KB Home sits among the major public U.S. homebuilders, competing with national peers and regional builders across multiple price points. It benefits from scale and brand recognition, but the sector is inherently cyclical. Demand can shift quickly with changes in mortgage rates, consumer confidence, construction input costs, permitting timelines, and local housing regulations. Management has also highlighted the impact of affordability constraints and broader macro conditions in recent company disclosures, underscoring that KB Home’s operating environment is driven by both macro and local market factors. Recent developments are important for investors. On December 18, 2025, KB Home reported fiscal fourth-quarter and full-year 2025 results, including revenues of $1.69 billion, diluted EPS of $1.55, and adjusted diluted EPS of $1.92. The company also completed an upsized $1.20 billion five-year credit facility, extended its $360 million term loan to 2029, and repurchased $100 million of common stock. Taken together, these actions point to active balance-sheet management and a continued emphasis on capital returns, even in a housing market that remains sensitive to financing conditions. In short, KB Home offers a concentrated way to gain exposure to U.S. new-home demand on the NYSE in the United States.