Intrinsic value of KB Home - KBH

Previous Close

$26.05

  Intrinsic Value

$168.65

stock screener

  Rating & Target

str. buy

+547%

Previous close

$26.05

 
Intrinsic value

$168.65

 
Up/down potential

+547%

 
Rating

str. buy

We calculate the intrinsic value of KBH stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 2017), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 2.2

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   2018
   2019
   2020
   2021
   2022
   2023
   2024
   2025
   2026
   2027
   2028
   2029
   2030
   2031
   2032
   2033
   2034
   2035
   2036
   2037
   2038
   2039
   2040
   2041
   2042
   2043
   2044
   2045
   2046
   2047

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  21.50
  19.85
  18.37
  17.03
  15.83
  14.74
  13.77
  12.89
  12.10
  11.39
  10.75
  10.18
  9.66
  9.19
  8.77
  8.40
  8.06
  7.75
  7.48
  7.23
  7.01
  6.81
  6.62
  6.46
  6.32
  6.18
  6.07
  5.96
  5.86
  5.78
Revenue, $m
  5,308
  6,362
  7,530
  8,813
  10,207
  11,712
  13,325
  15,043
  16,863
  18,785
  20,804
  22,922
  25,136
  27,447
  29,856
  32,363
  34,970
  37,681
  40,498
  43,426
  46,468
  49,631
  52,919
  56,339
  59,897
  63,601
  67,459
  71,480
  75,671
  80,042
Variable operating expenses, $m
  4,401
  5,271
  6,235
  7,293
  8,444
  9,685
  11,016
  12,433
  13,936
  15,521
  17,166
  18,913
  20,740
  22,647
  24,635
  26,703
  28,855
  31,092
  33,416
  35,832
  38,342
  40,952
  43,665
  46,486
  49,422
  52,479
  55,662
  58,980
  62,438
  66,045
Fixed operating expenses, $m
  472
  483
  493
  504
  515
  526
  538
  550
  562
  574
  587
  600
  613
  627
  640
  654
  669
  684
  699
  714
  730
  746
  762
  779
  796
  814
  831
  850
  868
  888
Total operating expenses, $m
  4,873
  5,754
  6,728
  7,797
  8,959
  10,211
  11,554
  12,983
  14,498
  16,095
  17,753
  19,513
  21,353
  23,274
  25,275
  27,357
  29,524
  31,776
  34,115
  36,546
  39,072
  41,698
  44,427
  47,265
  50,218
  53,293
  56,493
  59,830
  63,306
  66,933
Operating income, $m
  435
  609
  802
  1,016
  1,249
  1,500
  1,771
  2,059
  2,366
  2,689
  3,051
  3,409
  3,783
  4,173
  4,581
  5,005
  5,447
  5,906
  6,384
  6,880
  7,397
  7,933
  8,492
  9,073
  9,678
  10,309
  10,966
  11,650
  12,365
  13,110
EBITDA, $m
  1,100
  1,402
  1,737
  2,106
  2,508
  2,942
  3,409
  3,905
  4,433
  4,989
  5,575
  6,189
  6,832
  7,503
  8,202
  8,931
  9,689
  10,477
  11,296
  12,148
  13,033
  13,954
  14,911
  15,907
  16,944
  18,024
  19,148
  20,321
  21,543
  22,819
Interest expense (income), $m
  1
  8
  8
  9
  9
  10
  10
  11
  11
  12
  13
  13
  14
  15
  16
  17
  18
  19
  20
  21
  22
  23
  24
  25
  26
  28
  29
  30
  32
  33
  35
Earnings before tax, $m
  427
  600
  794
  1,007
  1,239
  1,490
  1,760
  2,048
  2,354
  2,677
  3,038
  3,394
  3,768
  4,157
  4,564
  4,987
  5,428
  5,886
  6,363
  6,859
  7,374
  7,910
  8,467
  9,047
  9,651
  10,280
  10,935
  11,619
  12,331
  13,075
Tax expense, $m
  115
  162
  214
  272
  335
  402
  475
  553
  636
  723
  820
  916
  1,017
  1,123
  1,232
  1,347
  1,466
  1,589
  1,718
  1,852
  1,991
  2,136
  2,286
  2,443
  2,606
  2,776
  2,953
  3,137
  3,329
  3,530
Net income, $m
  312
  438
  579
  735
  904
  1,088
  1,285
  1,495
  1,718
  1,954
  2,218
  2,478
  2,750
  3,035
  3,332
  3,641
  3,962
  4,297
  4,645
  5,007
  5,383
  5,774
  6,181
  6,604
  7,045
  7,504
  7,983
  8,482
  9,002
  9,545

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  -1,856
  -2,224
  -2,633
  -3,081
  -3,569
  -4,095
  -4,659
  -5,260
  -5,896
  -6,568
  -7,274
  -8,015
  -8,789
  -9,597
  -10,439
  -11,316
  -12,227
  -13,175
  -14,160
  -15,184
  -16,248
  -17,353
  -18,503
  -19,699
  -20,943
  -22,238
  -23,587
  -24,993
  -26,458
  -27,987
Adjusted assets (=assets-cash), $m
  -1,856
  -2,224
  -2,633
  -3,081
  -3,569
  -4,095
  -4,659
  -5,260
  -5,896
  -6,568
  -7,274
  -8,015
  -8,789
  -9,597
  -10,439
  -11,316
  -12,227
  -13,175
  -14,160
  -15,184
  -16,248
  -17,353
  -18,503
  -19,699
  -20,943
  -22,238
  -23,587
  -24,993
  -26,458
  -27,987
Revenue / Adjusted assets
  -2.860
  -2.861
  -2.860
  -2.860
  -2.860
  -2.860
  -2.860
  -2.860
  -2.860
  -2.860
  -2.860
  -2.860
  -2.860
  -2.860
  -2.860
  -2.860
  -2.860
  -2.860
  -2.860
  -2.860
  -2.860
  -2.860
  -2.860
  -2.860
  -2.860
  -2.860
  -2.860
  -2.860
  -2.860
  -2.860
Average production assets, $m
  6,439
  7,717
  9,134
  10,690
  12,382
  14,207
  16,163
  18,247
  20,455
  22,786
  25,236
  27,804
  30,490
  33,293
  36,215
  39,256
  42,419
  45,707
  49,124
  52,676
  56,366
  60,202
  64,190
  68,339
  72,655
  77,148
  81,828
  86,705
  91,789
  97,092
Working capital, $m
  -3,785
  -4,536
  -5,369
  -6,283
  -7,278
  -8,351
  -9,501
  -10,726
  -12,024
  -13,393
  -14,834
  -16,343
  -17,922
  -19,570
  -21,287
  -23,075
  -24,934
  -26,867
  -28,875
  -30,963
  -33,132
  -35,387
  -37,731
  -40,169
  -42,707
  -45,348
  -48,099
  -50,965
  -53,953
  -57,070
Total debt, $m
  85
  89
  94
  99
  104
  110
  116
  123
  130
  137
  145
  153
  161
  170
  180
  189
  199
  210
  221
  232
  244
  256
  268
  281
  295
  309
  324
  340
  356
  373
Total liabilities, $m
  20
  24
  29
  34
  39
  45
  51
  58
  65
  72
  80
  88
  97
  106
  115
  124
  135
  145
  156
  167
  179
  191
  204
  217
  230
  245
  259
  275
  291
  308
Total equity, $m
  -1,876
  -2,249
  -2,662
  -3,115
  -3,608
  -4,140
  -4,710
  -5,318
  -5,961
  -6,640
  -7,354
  -8,103
  -8,886
  -9,703
  -10,554
  -11,440
  -12,362
  -13,320
  -14,316
  -15,351
  -16,426
  -17,544
  -18,707
  -19,915
  -21,173
  -22,483
  -23,847
  -25,268
  -26,749
  -28,295
Total liabilities and equity, $m
  -1,856
  -2,225
  -2,633
  -3,081
  -3,569
  -4,095
  -4,659
  -5,260
  -5,896
  -6,568
  -7,274
  -8,015
  -8,789
  -9,597
  -10,439
  -11,316
  -12,227
  -13,175
  -14,160
  -15,184
  -16,247
  -17,353
  -18,503
  -19,698
  -20,943
  -22,238
  -23,588
  -24,993
  -26,458
  -27,987
Debt-to-equity ratio
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
Adjusted equity ratio
  1.011
  1.011
  1.011
  1.011
  1.011
  1.011
  1.011
  1.011
  1.011
  1.011
  1.011
  1.011
  1.011
  1.011
  1.011
  1.011
  1.011
  1.011
  1.011
  1.011
  1.011
  1.011
  1.011
  1.011
  1.011
  1.011
  1.011
  1.011
  1.011
  1.011

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  312
  438
  579
  735
  904
  1,088
  1,285
  1,495
  1,718
  1,954
  2,218
  2,478
  2,750
  3,035
  3,332
  3,641
  3,962
  4,297
  4,645
  5,007
  5,383
  5,774
  6,181
  6,604
  7,045
  7,504
  7,983
  8,482
  9,002
  9,545
Depreciation, amort., depletion, $m
  665
  793
  935
  1,090
  1,259
  1,442
  1,638
  1,846
  2,067
  2,300
  2,524
  2,780
  3,049
  3,329
  3,621
  3,926
  4,242
  4,571
  4,912
  5,268
  5,637
  6,020
  6,419
  6,834
  7,265
  7,715
  8,183
  8,670
  9,179
  9,709
Funds from operations, $m
  977
  1,231
  1,514
  1,825
  2,164
  2,530
  2,923
  3,341
  3,785
  4,254
  4,741
  5,258
  5,799
  6,364
  6,953
  7,566
  8,204
  8,868
  9,557
  10,274
  11,019
  11,794
  12,600
  13,438
  14,311
  15,219
  16,166
  17,152
  18,181
  19,254
Change in working capital, $m
  -670
  -751
  -833
  -914
  -994
  -1,073
  -1,150
  -1,225
  -1,298
  -1,370
  -1,440
  -1,510
  -1,579
  -1,648
  -1,717
  -1,788
  -1,859
  -1,933
  -2,009
  -2,087
  -2,169
  -2,255
  -2,344
  -2,438
  -2,537
  -2,641
  -2,751
  -2,866
  -2,988
  -3,117
Cash from operations, $m
  1,647
  1,983
  2,347
  2,739
  3,158
  3,603
  4,072
  4,566
  5,083
  5,624
  6,181
  6,768
  7,378
  8,012
  8,670
  9,354
  10,064
  10,801
  11,566
  12,362
  13,189
  14,049
  14,944
  15,877
  16,848
  17,860
  18,916
  20,018
  21,169
  22,371
Maintenance CAPEX, $m
  -530
  -644
  -772
  -913
  -1,069
  -1,238
  -1,421
  -1,616
  -1,825
  -2,046
  -2,279
  -2,524
  -2,780
  -3,049
  -3,329
  -3,621
  -3,926
  -4,242
  -4,571
  -4,912
  -5,268
  -5,637
  -6,020
  -6,419
  -6,834
  -7,265
  -7,715
  -8,183
  -8,670
  -9,179
New CAPEX, $m
  -1,138
  -1,278
  -1,417
  -1,555
  -1,692
  -1,825
  -1,956
  -2,084
  -2,208
  -2,330
  -2,450
  -2,568
  -2,686
  -2,803
  -2,921
  -3,041
  -3,163
  -3,288
  -3,417
  -3,551
  -3,690
  -3,836
  -3,988
  -4,148
  -4,316
  -4,493
  -4,680
  -4,877
  -5,084
  -5,303
Cash from investing activities, $m
  -1,668
  -1,922
  -2,189
  -2,468
  -2,761
  -3,063
  -3,377
  -3,700
  -4,033
  -4,376
  -4,729
  -5,092
  -5,466
  -5,852
  -6,250
  -6,662
  -7,089
  -7,530
  -7,988
  -8,463
  -8,958
  -9,473
  -10,008
  -10,567
  -11,150
  -11,758
  -12,395
  -13,060
  -13,754
  -14,482
Free cash flow, $m
  -22
  61
  158
  271
  398
  539
  695
  866
  1,050
  1,248
  1,453
  1,676
  1,912
  2,160
  2,420
  2,691
  2,975
  3,271
  3,578
  3,898
  4,231
  4,576
  4,936
  5,309
  5,698
  6,101
  6,522
  6,959
  7,415
  7,889
Issuance/(repayment) of debt, $m
  3
  4
  4
  5
  5
  6
  6
  7
  7
  7
  8
  8
  9
  9
  9
  10
  10
  10
  11
  11
  12
  12
  13
  13
  14
  14
  15
  15
  16
  17
Issuance/(repurchase) of shares, $m
  -332
  -372
  -413
  -453
  -493
  -532
  -570
  -607
  -644
  -679
  -714
  -749
  -783
  -817
  -851
  -886
  -922
  -958
  -996
  -1,035
  -1,075
  -1,118
  -1,162
  -1,209
  -1,258
  -1,309
  -1,364
  -1,421
  -1,482
  -1,545
Cash from financing (excl. dividends), $m  
  -329
  -368
  -409
  -448
  -488
  -526
  -564
  -600
  -637
  -672
  -706
  -741
  -774
  -808
  -842
  -876
  -912
  -948
  -985
  -1,024
  -1,063
  -1,106
  -1,149
  -1,196
  -1,244
  -1,295
  -1,349
  -1,406
  -1,466
  -1,528
Total cash flow (excl. dividends), $m
  -350
  -308
  -250
  -178
  -90
  13
  132
  265
  413
  576
  746
  936
  1,138
  1,352
  1,578
  1,815
  2,063
  2,323
  2,593
  2,874
  3,167
  3,471
  3,786
  4,114
  4,453
  4,806
  5,173
  5,553
  5,949
  6,361
Retained Cash Flow (-), $m
  332
  372
  413
  453
  493
  532
  570
  607
  644
  679
  714
  749
  783
  817
  851
  886
  922
  958
  996
  1,035
  1,075
  1,118
  1,162
  1,209
  1,258
  1,309
  1,364
  1,421
  1,482
  1,545
Prev. year cash balance distribution, $m
  1,545
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
  13
  0
  0
  0
  0
  31
  35
  40
  45
  51
  56
  62
  69
  75
  82
  90
  97
  105
  113
  121
  130
  139
  149
  159
  169
  180
  191
  202
  214
  227
Cash available for distribution, $m
  1,526
  372
  413
  453
  493
  545
  702
  872
  1,057
  1,255
  1,460
  1,684
  1,920
  2,169
  2,429
  2,701
  2,985
  3,281
  3,589
  3,909
  4,242
  4,589
  4,948
  5,322
  5,711
  6,116
  6,537
  6,975
  7,431
  7,906
Discount rate, %
  4.30
  4.52
  4.74
  4.98
  5.23
  5.49
  5.76
  6.05
  6.35
  6.67
  7.00
  7.35
  7.72
  8.11
  8.51
  8.94
  9.39
  9.86
  10.35
  10.87
  11.41
  11.98
  12.58
  13.21
  13.87
  14.56
  15.29
  16.05
  16.86
  17.70
PV of cash for distribution, $m
  1,464
  341
  359
  373
  382
  396
  474
  545
  607
  658
  694
  719
  730
  728
  713
  686
  649
  604
  553
  497
  439
  381
  324
  271
  222
  178
  140
  108
  81
  60
Current shareholders' claim on cash, %
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0

KB HOME is a homebuilding company. The Company is engaged in selling and building a range of new homes designed primarily for first-time, move-up and active adult homebuyers, including attached and detached single-family residential homes. It operates through five segments, which consist of four homebuilding segments and one financial services segment. Its homebuilding segments include West Coast, Southwest, Central and Southeast. The homebuilding segments are engaged in the acquisition and development of land primarily for residential purposes. The financial services segment offers property and casualty insurance and, in certain instances, earthquake, flood and personal property insurance to its homebuyers in the same markets as its homebuilding segments, and provides title services in the majority of markets located within its Central and Southeast homebuilding segments. It offers homes in development communities, at urban in-fill locations and as part of mixed-use projects.

FINANCIAL RATIOS  of  KB Home (KBH)

Valuation Ratios
P/E Ratio 23.2
Price to Sales 0.7
Price to Book 1.4
Price to Tangible Book
Price to Cash Flow 13
Price to Free Cash Flow 13.4
Growth Rates
Sales Growth Rate 18.6%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 0%
Cap. Spend. - 3 Yr. Gr. Rate 20.1%
Financial Strength
Quick Ratio NaN
Current Ratio NaN
LT Debt to Equity 153.3%
Total Debt to Equity 153.3%
Interest Coverage 150
Management Effectiveness
Return On Assets 2.1%
Ret/ On Assets - 3 Yr. Avg. 10.1%
Return On Total Capital 2.4%
Ret/ On T. Cap. - 3 Yr. Avg. 10.4%
Return On Equity 6.2%
Return On Equity - 3 Yr. Avg. 32.5%
Asset Turnover 0.7
Profitability Ratios
Gross Margin 15.4%
Gross Margin - 3 Yr. Avg. 16.3%
EBITDA Margin 4.3%
EBITDA Margin - 3 Yr. Avg. 4.6%
Operating Margin 4.5%
Oper. Margin - 3 Yr. Avg. 4.8%
Pre-Tax Margin 4.1%
Pre-Tax Margin - 3 Yr. Avg. 4.1%
Net Profit Margin 2.9%
Net Profit Margin - 3 Yr. Avg. 14.7%
Effective Tax Rate 28.9%
Eff/ Tax Rate - 3 Yr. Avg. -268.1%
Payout Ratio 8.5%

KBH stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the KBH stock intrinsic value calculation we used $4369 million for the last fiscal year's total revenue generated by KB Home. The default revenue input number comes from 2017 income statement of KB Home. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our KBH stock valuation model: a) initial revenue growth rate of 21.5% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 4.3%, whose default value for KBH is calculated based on our internal credit rating of KB Home, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of KB Home.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of KBH stock the variable cost ratio is equal to 83%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $462 million in the base year in the intrinsic value calculation for KBH stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 9.8% for KB Home.

Corporate tax rate of 27% is the nominal tax rate for KB Home. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the KBH stock is equal to 0.3%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for KBH are equal to 121.3%.

Life of production assets of 10 years is the average useful life of capital assets used in KB Home operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for KBH is equal to -71.3%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $0 million for KB Home - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 86 million for KB Home is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of KB Home at the current share price and the inputted number of shares is $2.2 billion.

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LEN Lennar Cl A 54.68 113.93  str.buy
LGIH LGI Homes 59.91 1,110.29  str.buy
TOL Toll Brothers 37.34 91.56  str.buy
NVR NVR 2,910.00 4,144.22  buy

COMPANY NEWS

▶ KB Home Declares Third Quarter 2018 Dividend   [Jul-12-18 04:10PM  Business Wire]
▶ These are the best (and worst) places to retire   [01:23PM  Yahoo Finance Video]
▶ Dow Leads At Starting Bell: Tesla Jumps; This Oil Stock Breaks Out   [Jul-10-18 09:38AM  Investor's Business Daily]
▶ KB Home Needs More Base Building, Buying to Support a Rally   [Jul-05-18 11:09AM  TheStreet.com]
▶ KB Home Appoints Rob McGibney to Regional President   [Jul-03-18 08:00AM  Business Wire]
▶ Company News For Jul 2, 2018   [Jul-02-18 10:06AM  Zacks]
▶ Why Wells Fargo, Overstock.com, and KB Home Jumped Today   [Jun-29-18 04:36PM  Motley Fool]
▶ KB Home Delivers a Second-Quarter Beat   [12:17PM  InvestorPlace]
▶ KB Home: Fiscal 2Q Earnings Snapshot   [04:19PM  Associated Press]
▶ KB Home Reports 2018 Second Quarter Results   [04:10PM  Business Wire]
▶ KB Home to Host Earnings Call   [03:00PM  ACCESSWIRE]
▶ [$$] KB Home nails revenue, earnings beat   [04:43AM  Financial Times]
▶ Construction robots could lead to lower home prices   [Jun-26-18 01:20PM  Yahoo Finance Video]
▶ Yahoo Finance Live: Midday Movers - Jun 26th, 2018   [09:40AM  Yahoo Finance Video]
▶ When Should You Buy KB Home (NYSE:KBH)?   [Jun-21-18 02:09PM  Simply Wall St.]
▶ Should You Buy a Home in the Second Half of 2018?   [Jun-12-18 06:46PM  InvestorPlace]
▶ KB Home Names Matthew Mandino as Chief Operating Officer   [Jun-11-18 04:57PM  Business Wire]
▶ Top 5 hottest and slowest markets for home sales   [Jun-07-18 01:40PM  Yahoo Finance Video]
▶ Top Cheap Stocks This Week   [Jun-04-18 10:02AM  Simply Wall St.]
▶ Housing Industry Stock Outlook - June 2018   [May-31-18 04:19PM  Zacks]
▶ KB Home Announces the Grand Opening of Belluno in Stockton   [May-30-18 08:00AM  Business Wire]
▶ How millennials are priced out of first-time home buying   [May-29-18 01:14PM  Yahoo Finance Video]
▶ Lack of inventory is creating a tight housing market   [01:08PM  Yahoo Finance Video]
▶ A Six-Pack Of Homebuilding Buys   [10:18AM  Forbes]
▶ Housing Stocks Hit by Rising Mortgage Rates   [May-23-18 02:33PM  Investopedia]
▶ The Charts of KB Home Are Still Slipping Down a Hillside   [May-17-18 01:41PM  TheStreet.com]
▶ KB Home to Repay Senior Notes   [May-15-18 04:10PM  Business Wire]
▶ 3 Sector ETFs & Stocks to Play April Inflation Data   [May-14-18 12:30PM  InvestorPlace]
▶ The Housing Market May End Up Climbing a Wall of Worry   [May-11-18 04:47PM  InvestorPlace]
▶ Have Investors Priced In KB Homes (NYSE:KBH) Growth?   [Apr-28-18 10:26AM  Simply Wall St.]
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