KB Home (KBH)

Operative Builders

Latest Price

$47.66

TTM P/E

13.43

Normalized P/E

6.89

TTM Div Yield

2.10%

Fwd Div Yield

2.10%

Book Value

62.56

P/B Ratio

0.76

Valuation metrics

EPS: $6.15

Book value / share: $61.75

Formula: √(22.5 × EPS × BVPS)

Graham Number

$92.44

+99% 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

$88.62

+91% 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

$29.92

35% downside

EPS: $6.15

Target P/E: 7×

Formula: EPS × P/E

P/E Fair Value

$43.05

7% downside

100.0% held by institutions

Institution	Shares	Value	Ownership %	Change	Filing Date
BlackRock, Inc.	9.88M	$618.0M	16.26%	+499.5K	2026-06-30
FMR LLC	5.19M	$324.0M	8.54%	+110.1K	2026-06-30
State Street Corp	3.55M	$221.0M	5.83%	+211.7K	2026-06-30
Vanguard Portfolio Management LLC	3.22M	$201.0M	5.30%	+319.3K	2026-06-30
Capital World Investors	3.03M	$189.0M	4.98%	+67.7K	2026-06-30
Vanguard Capital Management LLC	2.71M	$169.0M	4.47%	+204.7K	2026-06-30
Dimensional Fund Advisors LP	2.30M	$143.0M	3.79%	-10.5K	2026-06-30
Two Sigma Investments, LP	1.89M	$118.0M	3.11%	--	2026-06-30
Citadel Advisors LLC	1.78M	$111.0M	2.94%	+480.7K	2026-06-30
Geode Capital Management, LLC	1.74M	$108.0M	2.86%	+68.2K	2026-06-30