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Q4 25 EPS
$1.92
BEAT +7.26%
Est. $1.79
Q4 25 Revenue
$1.69B
BEAT +2.15%
Est. $1.66B
vs S&P Since Q4 25
-9.6%
TRAILING MARKET
KBH +0.2% vs S&P +9.8%
Full Year 2025 Results
FY 25 EPS
$6.15
MISS 3.99%
Est. $6.41
FY 25 Revenue
$6.24B
BEAT +0.58%
Est. $6.20B
Market Reaction
Did KBH Beat Earnings? Q4 2025 Results
KB Home posted a headline beat in its fiscal fourth quarter of 2025, but the numbers underneath told a more complicated story. Adjusted diluted EPS of $1.92 topped the $1.79 consensus estimate by 7.26%, while revenue of $1.69 billion edged past expec… Read more KB Home posted a headline beat in its fiscal fourth quarter of 2025, but the numbers underneath told a more complicated story. Adjusted diluted EPS of $1.92 topped the $1.79 consensus estimate by 7.26%, while revenue of $1.69 billion edged past expectations by 2.15%, though both metrics reflected the weight of a difficult housing environment, with revenue falling 15.3% from a year ago as homes delivered dropped 9% to 3,619 units and the average selling price slid 7% to $465,600. Margin compression was the defining pressure of the quarter, with housing gross profit margin narrowing sharply to 17.0% from 20.9%, driven by price reductions, higher relative land costs, and geographic mix shifts, a dynamic not unique to KB Home among major homebuilders. Looking ahead, the company guided full-year 2026 housing revenues of $5.10 billion to $6.10 billion on 11,000 to 12,500 deliveries, signaling continued caution as it bets on a shift back toward built-to-order homes to defend margins amid persistent affordability pressures.
Key Takeaways
- • Homes delivered decreased 9% year-over-year to 3,619
- • Average selling price declined 7% to $465,600
- • Housing gross profit margin compressed to 17.0% from 20.9% due to price reductions, higher relative land costs, and geographic mix
- • Financial services pretax income declined to $10.6 million from $13.1 million due to lower mortgage banking JV income
- • Effective tax rate improved to 21.4% from 23.1%
- • Accelerated equity-based compensation expense of $16.0 million due to new retirement-eligibility provisions
KBH YoY Financials
Q4 2025 vs Q4 2024, source: SEC Filings
KBH Revenue by Segment
With YoY comparisons, source: SEC Filings
“We closed our 2025 fiscal year on a positive note, meeting or exceeding nearly all our fourth quarter financial targets. Although housing market conditions remained challenging due to lower consumer confidence, affordability concerns and elevated mortgage interest rates, we were pleased to help nearly 13,000 individuals and families achieve the dream of homeownership during the year, while maintaining our industry-leading customer satisfaction ratings.”
— Jeffrey Mezger, Q4 2025 Earnings Press Release
KBH Earnings Trends
KBH vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
KBH EPS Trend
Earnings per share: estimate vs actual
KBH Revenue Trend
Quarterly revenue: estimate vs actual
KBH Quarterly Results
6 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q2 26 MISS | $0.46 | $0.43 | -5.99% | $1.11B | +2.15% |
| Q1 26 MISS | $0.54 | $0.52 | -4.50% | $1.08B | -1.56% |
| Q4 25 BEAT FY | $1.79 | $1.92 | +7.26% | $1.69B | +2.15% |
| FY Full Year | $6.41 | $6.15 | -3.99% | $6.24B | +0.58% |
| Q3 25 BEAT | $1.51 | $1.61 | +6.91% | $1.62B | +2.19% |
| Q2 25 BEAT | $1.47 | $1.50 | +1.89% | $1.53B | +1.61% |
| Q1 25 MISS | $1.59 | $1.49 | -6.14% | $1.39B | -7.16% |