Analyst Report: KB Home

Argus

•

Apr 11, 2025

Summary

KB Home, headquartered in Los Angeles, is one of America's largest homebuilders, with domestic operations in California, Washington, Idaho, Arizona, Nevada, Colorado, Texas, Florida, and North Carolina. We expect the company to start building in Atlanta in the near future. In FY24, the company delivered 14,169 homes, generating revenue of $6.9 billion. The West Coast segment represented 42% of FY23 homebuilding revenue with just 30% of homes delivered, helped by an average home price of $679,300. The company targets the lower-middle portion of the market, with approximately half of sales to first-time buyers and another quarter to buyers making their first step-up from a starter home. Most of the homes the

Chris Graja, CFA

Senior Analyst: Retail

Chris covers the Consumer sector for Argus. He was the #1 Stock Picker in the Household Durables sector, winning the 2019 StarMine U.S. Analyst award from Refinitiv. He was the #1 Stock Picker in Food and Staples Retailing, winning back-to-back U.S. Analyst Awards in 2015 and 2016. He received a prestigious Volunteer of the Year award from the New York Society of Security Analysts in 2000. Prior to Argus, Chris spent 16 years at Bloomberg Financial Markets. He was the Director of Training and a Senior Researcher for Bloomberg’s research division before joining the new Bloomberg magazine as Technical Studies Editor in 1993. He rose to Executive Markets Editor of the publishing group. Chris co-authored the book “Investing in Small-Cap Stocks,” which was published in three U.S. editions, an audio book, and two Chinese editions. Chris earned an MBA from Rutgers University. He is a CFA charterholder.