KB HOME (KBH)

Operative Builders

Latest Price

$49.52

TTM P/E

12.05

Normalized P/E

7.01

Div Yield

2.02%

Book Value

61.03

P/B Ratio

0.81

Valuation metrics

EPS: $6.15

Book value / share: $56.33

Formula: √(22.5 × EPS × BVPS)

Graham Number

$88.28

+78% upside

Norm. op. income: $695M (median of 7yr)

Tax rate: 23%

Discount rate: 10%

Growth assumption: zero (EPV is a no-growth value)

Earnings Power Value

$80.84

+63% upside

Base FCF: $305M (median of recent 5yr)

Growth: -11%/yr (median YOY, capped at 25%)

Discount rate: 10%

Terminal growth: 3%

Projection horizon: 10 years

DCF Fair Value

$27.30

45% downside

EPS: $6.15

Target P/E: 7×

Formula: EPS × P/E

P/E Fair Value

$43.05

13% downside

100.0% held by institutions

Institution	Shares	Value	Ownership %	Change	Filing Date
BlackRock, Inc.	9.88M	$618.0M	15.99%	+499.5K	2026-06-30
FMR LLC	5.19M	$324.0M	8.40%	+110.1K	2026-06-30
STATE STREET CORP	3.55M	$221.0M	5.74%	+211.7K	2026-06-30
VANGUARD PORTFOLIO MANAGEMENT LLC	3.22M	$201.0M	5.22%	+319.3K	2026-06-30
Capital World Investors	3.03M	$189.0M	4.90%	+67.7K	2026-06-30
VANGUARD CAPITAL MANAGEMENT LLC	2.71M	$169.0M	4.39%	+204.7K	2026-06-30
DIMENSIONAL FUND ADVISORS LP	2.30M	$143.0M	3.72%	-10.5K	2026-06-30
TWO SIGMA INVESTMENTS, LP	1.89M	$118.0M	3.06%	--	2026-06-30
CITADEL ADVISORS LLC	1.78M	$111.0M	2.89%	+480.7K	2026-06-30
GEODE CAPITAL MANAGEMENT, LLC	1.74M	$108.0M	2.81%	+68.2K	2026-06-30