KB Home cash flow statement KBH

Annual Quarterly

In fiscal 2025, which ended Nov 30, 2025, KB Home generated $335.7 million of cash from operations, down 7.5% from the year before. It spent $48.4 million on capital expenditures. That left free cash flow of $287.3 million. The company returned $68.6 million in dividends and $541.3 million in share buybacks to shareholders.

USD in millions, except per-share amounts and ratios. The percent under a figure is the change from the year before.

Line	FY 2026 Aug 31, 2026	FY 2025 Nov 30, 2025	FY 2024 Nov 30, 2024	FY 2023 Nov 30, 2023	FY 2022 Nov 30, 2022	FY 2021 Nov 30, 2021	FY 2020 Nov 30, 2020	FY 2019 Nov 30, 2019	FY 2018 Nov 30, 2018	FY 2017 Nov 30, 2017	FY 2016 Nov 30, 2016
Operating
Depreciation and amortization	41 +12.4%	37 +0.1%	37 +2.4%	36 +12.7%	32 +12.8%	29 +0.9%	28 +4.6%	27 +973.4%	3 -9.4%	3 -23.3%	4 +6.6%
Stock-based compensation	32 -5.7%	46 +34.1%	34 -0.4%	35 +17.5%	29 +1.9%	29 +34.2%	22 +17.6%	18 +15.5%	16 +8.4%	15 -13.2%	17 -1.7%
Operating cash flow	75 -81.0%	336 -7.5%	363 -66.5%	1,083 +490.3%	183 +591.8%	-37 -112.0%	311 +23.8%	251 +13.3%	222 -56.8%	513 +172.0%	189 +4.1%
Investing
Capital expenditures	46 +3.6%	48 +23.1%	39 +10.8%	35 -21.6%	45 +14.8%	39 +36.6%	29	—	—	—	—
Investing cash flow	-35 +35.6%	-62 -23.3%	-50 +13.7%	-58 +19.1%	-72 -88.5%	-38 -43.4%	-27 +35.1%	-41 -103.6%	-20 -27.7%	-16 -159.0%	-6 +46.2%
Financing
Debt repaid	—	—	—	—	704 +54.6%	455	0 -100.0%	986 +228.7%	300 +11.0%	270	0 -100.0%
Dividends paid	64 -10.3%	69 -4.2%	72 +25.9%	57 +8.3%	52 -3.0%	54 +42.0%	38 +86.9%	20 +129.1%	9 +2.9%	9 +0.7%	9 -6.5%
Stock buybacks	283 -47.8%	541 +53.0%	354 -14.0%	411 +174.3%	150 -20.3%	188	0	0 -100.0%	35	0 -100.0%	86 +15056.6%
Financing cash flow	-212 +44.7%	-643 -45.8%	-441 +29.8%	-627 -752.8%	-74 +76.6%	-315 -458.1%	-56 +82.9%	-330 +4.8%	-347 +6.1%	-370 -146.5%	-150 -573.1%
Change in cash
Net change in cash	-172 -296.9%	-369 -187.8%	-128	—	38 +109.7%	-390 -271.5%	228	—	—	—	—
Free cash flow	29 -91.8%	287 -11.2%	323 -69.1%	1,047 +657.9%	138 +280.2%	-77 -127.2%	282	—	—	—	—
Per share
Free cash flow per share	0.45 -90.7%	4.15 -1.3%	4.20 -66.5%	12.56 +712.1%	1.55 +288.7%	-0.82 -127.4%	3.00	—	—	—	—
Dividend per share	1.00 +0.0%	1.00 +5.3%	0.95	—	—	—	—	—	—	—	—
Shareholder returns
Returned to shareholders	346	610	425	468	202	242	38	20	44	9	95
Share of free cash flow	1,208.89%	212.29%	131.49%	44.71%	146.51%	—	13.51%	—	—	—	—
Ratios
Free cash flow margin	0.55%	4.61%	4.67%	16.34%	2.00%	-1.34%	6.74%	—	—	—	—
Capital expenditures to revenue	0.89%	0.78%	0.57%	0.55%	0.66%	0.69%	0.69%	—	—	—	—
Stock-based compensation to revenue	0.63%	0.74%	0.50%	0.54%	0.43%	0.50%	0.51%	0.40%	0.35%	0.33%	0.47%
Cash conversion	0.33x	0.78x	0.55x	1.83x	0.22x	-0.07x	1.05x	0.93x	1.30x	2.84x	1.79x

How these figures are calculated

Annual columns are full-year amounts from the annual report (Form 10-K, 20-F, or 40-F). If a company restates a year, the latest filed number is shown. USD in millions, except per-share amounts and ratios. Capital expenditures, debt repaid, dividends, and buybacks are positive amounts. Investing and financing cash flow keep the filing sign, so an outflow is negative. Free cash flow is operating cash flow minus capital expenditures. The first column is the trailing twelve months through the latest quarter. Returned to shareholders is dividends plus buybacks. Free cash flow margin, capital expenditures, and stock-based compensation are divided by revenue. Cash conversion is operating cash flow divided by net income. More on our methodology.

Company profile

Industry: Operative Builders (SIC 1531)
Listed as: KBH (NYSE)
Fiscal year ends: November 30
Incorporated in: DE
Headquarters: Los Angeles, CA
SEC filer status: Large accelerated filer
SEC CIK: 795266
Former names: KAUFMAN & BROAD HOME CORP (until Jan 5, 2001)

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Source: SEC EDGAR filings. This is company-reported data, not investment advice.