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KBH KB Home

KB Home is one of the largest homebuilders in the United States, with more than 600,000 homes delivered since its founding in 1957. KB Home operates in 38 markets in eight states, primarily serving first-time and first move-up homebuyers, as well as second move-up and active adults. KB Home is differentiated in offering customers the ability to personalize what they value most in their home, from choosing their lot, floor plan, and exterior, to selecting design and décor choices in its KB Home Studios. In addition, its industry leadership in sustainability helps to lower the cost of homeownership for its buyers compared to a typical resale home. The company takes a broad approach to sustainability, encompassing energy efficiency, water conservation, healthier indoor environments, smart home capabilities and waste reduction. KB Home is the first national builder to have earned awards under all of the U.S. EPA's homebuilder programs - ENERGY STAR®, WaterSense® and Indoor airPLUS®.

Company profile

Ticker
KBH
Exchange
Website
CEO
Jeffrey Mezger
Employees
Incorporated
Location
Fiscal year end
Industry (SIC)
Former names
KAUFMAN & BROAD HOME CORP
SEC CIK
IRS number
953666267

KBH stock data

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Calendar

9 Jul 21
28 Jul 21
30 Nov 21
Quarter (USD)
May 21 Feb 21 Nov 20 Aug 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD)
Nov 20 Nov 19 Nov 18 Nov 17
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Financial data from KB Home earnings reports.

Cash burn rate (estimated) Burn method: Change in cash Burn method: Operating income/loss Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 609.05M 609.05M 609.05M 609.05M 609.05M 609.05M
Cash burn (monthly) (positive/no burn) (positive/no burn) 4.94M (positive/no burn) (positive/no burn) (positive/no burn)
Cash used (since last report) n/a n/a 9.44M n/a n/a n/a
Cash remaining n/a n/a 599.6M n/a n/a n/a
Runway (months of cash) n/a n/a 121.3 n/a n/a n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
8 Jul 21 Brian R Niccol Common Stock Grant Aquire A No No 38.83 3,138 121.85K 3,138
22 Apr 21 Jeff Kaminski Common Stock Sell Dispose S No No 47.18 50,000 2.36M 102,465
22 Apr 21 Jeff Kaminski Common Stock Option exercise Aquire M No No 16.63 50,000 831.5K 152,465
22 Apr 21 Jeff Kaminski Common Stock Sell Dispose S No No 47.1 14,277 672.45K 102,465
22 Apr 21 Jeff Kaminski NQSO Common Stock Option exercise Dispose M No No 16.63 50,000 831.5K 0
8 Apr 21 Jodee A Kozlak Common Stock Grant Aquire A No No 0 5,744 0 6,730

Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.

87.2% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 325 298 +9.1%
Opened positions 77 53 +45.3%
Closed positions 50 44 +13.6%
Increased positions 95 99 -4.0%
Reduced positions 116 109 +6.4%
13F shares
Current Prev Q Change
Total value 3.74B 2.69B +38.9%
Total shares 80.34M 80.31M +0.0%
Total puts 1.37M 3.12M -56.2%
Total calls 1.12M 1.1M +2.5%
Total put/call ratio 1.2 2.8 -57.2%
Largest owners
Shares Value Change
BLK Blackrock 13.62M $633.89M +22.2%
Vanguard 8.07M $375.63M +2.6%
FMR 4.89M $227.7M +0.6%
MCQEF Macquarie 3.79M $176.27M -4.1%
Alliancebernstein 3.78M $175.91M +15.4%
Capital World Investors 2.96M $137.63M 0.0%
Dimensional Fund Advisors 2.9M $135.09M +1.6%
STT State Street 2.69M $125.39M +0.1%
Fisher Asset Management 2.61M $121.37M -5.2%
JPM JPMorgan Chase & Co. 2.12M $98.83M -4.6%
Largest transactions
Shares Bought/sold Change
BLK Blackrock 13.62M +2.47M +22.2%
Millennium Management 138.77K -1.6M -92.0%
Norges Bank 0 -1.2M EXIT
Fuller & Thaler Asset Management 1.09M +1.09M NEW
BK Bank Of New York Mellon 1.47M -772.22K -34.5%
Citadel Advisors 1.34M +655.69K +95.9%
Alliancebernstein 3.78M +504.03K +15.4%
Balyasny Asset Management 268.57K -458.4K -63.1%
GS Goldman Sachs 279.79K -445.38K -61.4%
NTRS Northern Trust 1.72M -413.63K -19.4%

Financial report summary

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Competition
Landsea Homes
Management Discussion
  • Item 2.Management’s Discussion and Analysis of Financial Condition and Results of Operations
  • As the U.S. economy began to recover from the severe impacts of the COVID-19 pandemic that started in the 2020 second quarter, housing market conditions remained generally healthy from the 2020 second half through the six months ended May 31, 2021. Continued solid first-time buyer interest in homeownership, underscoring the large millennial and Generation Z demographic groups that are in or entering their prime homebuying years, along with a limited supply of new and resale inventory and low mortgage interest rates, created a favorable environment for our business throughout the period. First-time buyers accounted for 64% of our homes delivered in the three months ended May 31, 2021. Reflecting the robust demand in our served markets, the number and value of our net orders for the 2021 second quarter rose 145% and 196%, respectively, from the 2020 second quarter, when our net orders were adversely affected by the outbreak of the COVID-19 pandemic as described below under “COVID-19 Pandemic Impact.”
  • In order to balance pace, price and construction starts to optimize the performance of our inventory assets and improve returns amid the considerable demand for our homes and steadily increasing construction labor and building materials costs, particularly for lumber, we raised selling prices in the vast majority of our communities and, in some instances, managed the pace of lot releases during the 2021 second quarter. However, with the strong housing demand and improving general economy, we experienced supply-chain disruptions that created intermittent shortages of certain construction materials and other products, as well as trade labor availability constraints and municipality delays, with respect to permitting, inspections and utilities. These factors extended our construction cycle times in the 2021 second quarter, and pushed some expected deliveries and new community openings into the third quarter. Along with the accelerated close-out of communities due to our exceptionally strong monthly net order pace, we had year-over-year and sequential decreases in our average and ending community counts for the quarter. We are closely monitoring the risks to our construction cycle times and new community openings, and believe the above-described unfavorable trends will generally persist for the remainder of the year. Therefore, we have incorporated them into our 2021 third quarter and full-year performance expectations as presented below under “Outlook.”
Content analysis
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Removed: acceptable, decline, delayed, deteriorate, essentially, proportion, rapidly, slight, strength, tempered, vaccine