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Side-by-side financial comparison of KB HOME (KBH) and M/I HOMES, INC. (MHO). Click either name above to swap in a different company.
KB HOME is the larger business by last-quarter revenue ($1.7B vs $1.1B, roughly 1.5× M/I HOMES, INC.). KB HOME runs the higher net margin — 6.0% vs 5.6%, a 0.4% gap on every dollar of revenue. On growth, M/I HOMES, INC. posted the faster year-over-year revenue change (-4.8% vs -15.3%). KB HOME produced more free cash flow last quarter ($290.1M vs $-13.0M). Over the past eight quarters, KB HOME's revenue compounded faster (7.4% CAGR vs 4.7%).
KB Home is an American homebuilding company founded in 1957 as Kaufman & Broad in Detroit, Michigan. It was the first company to be traded on the New York Stock Exchange as a home builder. Its headquarters are in Los Angeles, California.
M/I Homes, Inc. is a leading U.S. residential construction company that designs, builds and sells single-family homes, townhomes and duplexes across multiple U.S. states. It caters to entry-level, move-up and luxury homebuyers, offering energy-efficient designs, flexible floor plans and personalized customization options.
KBH vs MHO — Head-to-Head
Income Statement — Q4 2025 vs Q4 2025
| Metric | | |
|---|---|---|
| Revenue | $1.7B | $1.1B |
| Net Profit | $101.5M | $64.0M |
| Gross Margin | — | 17.4% |
| Operating Margin | — | 6.5% |
| Net Margin | 6.0% | 5.6% |
| Revenue YoY | -15.3% | -4.8% |
| Net Profit YoY | -46.7% | -52.1% |
| EPS (diluted) | $1.55 | $2.42 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $1.7B | $1.1B | ||
| Q3 25 | $1.6B | $1.1B | ||
| Q2 25 | $1.5B | $1.2B | ||
| Q1 25 | $1.4B | $976.1M | ||
| Q4 24 | $2.0B | $1.2B | ||
| Q3 24 | $1.8B | $1.1B | ||
| Q2 24 | $1.7B | $1.1B | ||
| Q1 24 | $1.5B | $1.0B |
| Q4 25 | $101.5M | $64.0M | ||
| Q3 25 | $109.8M | $106.5M | ||
| Q2 25 | $107.9M | $121.2M | ||
| Q1 25 | $109.6M | $111.2M | ||
| Q4 24 | $190.6M | $133.5M | ||
| Q3 24 | $157.3M | $145.4M | ||
| Q2 24 | $168.4M | $146.7M | ||
| Q1 24 | $138.7M | $138.1M |
| Q4 25 | — | 17.4% | ||
| Q3 25 | — | 24.5% | ||
| Q2 25 | — | 24.7% | ||
| Q1 25 | — | 25.9% | ||
| Q4 24 | — | 24.6% | ||
| Q3 24 | — | 27.1% | ||
| Q2 24 | — | 27.9% | ||
| Q1 24 | — | 27.1% |
| Q4 25 | — | 6.5% | ||
| Q3 25 | — | 12.0% | ||
| Q2 25 | — | 13.4% | ||
| Q1 25 | — | 14.4% | ||
| Q4 24 | — | 13.6% | ||
| Q3 24 | — | 15.9% | ||
| Q2 24 | — | 16.8% | ||
| Q1 24 | — | 16.6% |
| Q4 25 | 6.0% | 5.6% | ||
| Q3 25 | 6.8% | 9.4% | ||
| Q2 25 | 7.1% | 10.4% | ||
| Q1 25 | 7.9% | 11.4% | ||
| Q4 24 | 9.5% | 11.1% | ||
| Q3 24 | 9.0% | 12.7% | ||
| Q2 24 | 9.9% | 13.2% | ||
| Q1 24 | 9.4% | 13.2% |
| Q4 25 | $1.55 | $2.42 | ||
| Q3 25 | $1.61 | $3.92 | ||
| Q2 25 | $1.50 | $4.42 | ||
| Q1 25 | $1.49 | $3.98 | ||
| Q4 24 | $2.50 | $4.71 | ||
| Q3 24 | $2.04 | $5.10 | ||
| Q2 24 | $2.15 | $5.12 | ||
| Q1 24 | $1.76 | $4.78 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | — |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $3.9B | $3.2B |
| Total Assets | $6.7B | $4.8B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $3.9B | $3.2B | ||
| Q3 25 | $3.9B | $3.1B | ||
| Q2 25 | $4.0B | $3.1B | ||
| Q1 25 | $4.1B | $3.0B | ||
| Q4 24 | $4.1B | $2.9B | ||
| Q3 24 | $4.0B | $2.8B | ||
| Q2 24 | $4.0B | $2.7B | ||
| Q1 24 | $3.9B | $2.6B |
| Q4 25 | $6.7B | $4.8B | ||
| Q3 25 | $7.0B | $4.8B | ||
| Q2 25 | $7.0B | $4.7B | ||
| Q1 25 | $7.0B | $4.6B | ||
| Q4 24 | $6.9B | $4.5B | ||
| Q3 24 | $6.8B | $4.5B | ||
| Q2 24 | $6.8B | $4.3B | ||
| Q1 24 | $6.7B | $4.2B |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $303.8M | $-8.7M |
| Free Cash FlowOCF − Capex | $290.1M | $-13.0M |
| FCF MarginFCF / Revenue | 17.1% | -1.1% |
| Capex IntensityCapex / Revenue | 0.8% | 0.4% |
| Cash ConversionOCF / Net Profit | 2.99× | -0.14× |
| TTM Free Cash FlowTrailing 4 quarters | $287.3M | $127.7M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $303.8M | $-8.7M | ||
| Q3 25 | $197.7M | $43.4M | ||
| Q2 25 | $168.4M | $37.8M | ||
| Q1 25 | $-334.3M | $64.9M | ||
| Q4 24 | $362.6M | $104.4M | ||
| Q3 24 | $-89.9M | $-67.9M | ||
| Q2 24 | $61.5M | $27.5M | ||
| Q1 24 | $28.5M | $115.8M |
| Q4 25 | $290.1M | $-13.0M | ||
| Q3 25 | $185.8M | $42.0M | ||
| Q2 25 | $156.9M | $35.1M | ||
| Q1 25 | $-345.5M | $63.5M | ||
| Q4 24 | $352.6M | $102.3M | ||
| Q3 24 | $-99.4M | $-68.5M | ||
| Q2 24 | $51.2M | $22.0M | ||
| Q1 24 | $19.1M | $115.5M |
| Q4 25 | 17.1% | -1.1% | ||
| Q3 25 | 11.5% | 3.7% | ||
| Q2 25 | 10.3% | 3.0% | ||
| Q1 25 | -24.8% | 6.5% | ||
| Q4 24 | 17.6% | 8.5% | ||
| Q3 24 | -5.7% | -6.0% | ||
| Q2 24 | 3.0% | 2.0% | ||
| Q1 24 | 1.3% | 11.0% |
| Q4 25 | 0.8% | 0.4% | ||
| Q3 25 | 0.7% | 0.1% | ||
| Q2 25 | 0.8% | 0.2% | ||
| Q1 25 | 0.8% | 0.1% | ||
| Q4 24 | 0.5% | 0.2% | ||
| Q3 24 | 0.5% | 0.1% | ||
| Q2 24 | 0.6% | 0.5% | ||
| Q1 24 | 0.6% | 0.0% |
| Q4 25 | 2.99× | -0.14× | ||
| Q3 25 | 1.80× | 0.41× | ||
| Q2 25 | 1.56× | 0.31× | ||
| Q1 25 | -3.05× | 0.58× | ||
| Q4 24 | 1.90× | 0.78× | ||
| Q3 24 | -0.57× | -0.47× | ||
| Q2 24 | 0.37× | 0.19× | ||
| Q1 24 | 0.21× | 0.84× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
KBH
| Home Building | $1.7B | 99% |
| Financial Service | $8.7M | 1% |
MHO
| Southern Homebuilding | $615.6M | 54% |
| Northern Homebuilding | $503.9M | 44% |
| Financial Service | $27.8M | 2% |
| Land | $4.7M | 0% |
