Filing Flows › KB Home (KBH) › Q2 FY26 › vs Q2 FY25
KB Home (KBH) Q2 FY26 vs Q2 FY25 (year over year)
KB Home's revenue fell $417M (-27%) from $1.5B in Q2 FY25 to $1.1B in Q2 FY26. The biggest changes: Housing −$417M (-27%); Financial services +$459K (+9%). Operating margin 3.3% against 9.3% (-6.0 pts).
KB Home, Q2 FY26: revenue $1.1B (-27% year over year), operating margin 3.3%, net earnings $27.3M, operating cash flow $31.9M. The chart draws each line against Q2 FY25, the increases inside each band.
Margins
| Q2 FY26 | Q2 FY25 | Change | |
|---|---|---|---|
| Operating margin | 3.3% | 9.3% | -6.0 pts |
| Net margin | 2.5% | 7.1% | -4.6 pts |
| Free cash flow margin | 2.0% | 10.3% | -8.3 pts |
Every line
| Line | Q2 FY26 | Q2 FY25 | Change | % |
|---|---|---|---|---|
| Homebuilding | $1.1B | $1.5B | −$418M | -27% |
| Land | $855K | $0 | $855K | — |
| Housing | $1.1B | $1.5B | −$417M | -27% |
| Financial services | $5.3M | $4.9M | $459K | +9% |
| Revenue | $1.1B | $1.5B | −$417M | -27% |
| Operating profit | $37.2M | $142M | −$105M | -74% |
| Costs & expenses | $1.1B | $1.4B | −$312M | -22% |
| Pre-tax earnings | $37.2M | $142M | −$105M | -74% |
| Net earnings | $27.3M | $108M | −$80.5M | -75% |
| Income tax | $9.9M | $34.5M | −$24.6M | -71% |
| Depreciation & amortization | $10.4M | $9.2M | $1.2M | +13% |
| Share-based compensation | $5.5M | $9.2M | −$3.6M | -40% |
| Working capital & other | $11.4M | −$42.2M | $53.5M | — |
| Operating cash flow | $31.9M | $168M | −$137M | -81% |
| Free cash flow (OCF − capex) | $22.2M | $157M | −$135M | -86% |
| Capital expenditures | $9.7M | $11.5M | −$1.8M | -16% |
Questions
How much did KB Home's revenue grow year over year in Q2 FY26?
KB Home's revenue fell $417M (-27%) from $1.5B in Q2 FY25 to $1.1B in Q2 FY26.
What drove KB Home's revenue change in Q2 FY26?
Housing −$417M (-27%); Financial services +$459K (+9%).