JBL 4367 vs KEF Reference 203

Last updated: October 1, 2026

Short answer: the KEF Reference 203 for measured linearity, the JBL 4367 for a design you can still buy. The 203 is a 4-way with on-axis linearity within about +/-3dB and good directivity both horizontally and vertically, but it is a 20+ year old, long-discontinued speaker only findable secondhand, so condition and driver matching vary by unit. The 4367 costs roughly $16,500 per pair.

JBL 4367 vs KEF Reference 203

Buy the JBL 4367 or the KEF Reference 203, whichever you find used in better condition; both are discontinued. For a new speaker, start with the MoFi SourcePoint V10 Master Edition instead.

Still deciding? The full Passive Home rankings cover every ranked option.

Specifications Side By Side

JBL 4367 KEF Reference 203
Price$16,500 per pair Discontinued$5,000 per pair Discontinued
Ranked#11 of 74 in Large Size Floorstanding Speakers#12 of 74 in Large Size Floorstanding Speakers
Bass Extension (-10dB)31Hz (measured, Erin’s Audio Corner)37Hz (measured, Erin’s Audio Corner)
Bass Extension (-3dB)43Hz (measured, Erin’s Audio Corner)51Hz (measured, Erin’s Audio Corner)
Dimensions37.2”H x 22.2”W x 16.8”D (944.9 x 563.9 x 426.7 mm)42”H (1067H mm)
Impedance4 ohms nominal (5.3 ohms minimum above 80Hz, measured by Erin’s Audio Corner)8 ohms nominal (3.6 ohms minimum, measured, Erin’s Audio Corner; 3.2 ohms per manufacturer spec)
Sensitivity92.5dB (measured average, Erin’s Audio Corner)88dB (2.83V/1m, measured by Erin’s Audio Corner)
Drivers15” (380mm) 2216Nd-1 Dual Differential Drive® woofer, 3” (75mm) D2430K dual compression tweeter1x 0.75” supertweeter, coaxial 1” dome tweeter + 6.5” midrange, 2x 6.5” woofers
Weight119 lbs (54 kg) each58 lbs (26.3 kg)
Woofer Cabinetported, frontBass reflex, with switchable flat/cut/lifted bass ports for wall placement
Spinorama Preference Score5.075.83
Spinorama Preference Score with Perfect Sub6.887.84
DIY KitNoNo
Crossover Frequency-400Hz, 2.7kHz, 15kHz
Frequency Response-55Hz - 55kHz ±3dB (Manufacturer specified)
Recommended Power-50-200W

More top alternatives to JBL 4367:

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The Two Speakers In Full

JBL 4367: $16,500 per pair Discontinued eBay

JBL 4367 ranking card

Newer model: the JBL 4369. It’s likely to perform similarly, though we don’t have measurements to confirm that yet.

Pros: Three-way design pairing a 15” front-ported woofer with a compression driver on a controlled-dispersion horn/waveguide, crossed over at 700Hz. On-axis frequency response is nearly dead flat, holding within about ±1.5dB, with the listening window tracking it closely except right at the crossover. Distortion stays below 1% THD across the entire audible band at both 86dB and 96dB. Compression/dynamic-range linearity is exceptional: within about a quarter of a dB from 76dB to 102dB, among the best the reviewer has measured. High sensitivity (about 92.6dB average) eases the amplifier match despite the speaker’s size. Minimal rear radiation thanks to the 15” woofer’s directivity and front-firing ports: rear energy runs about 20dB down from the primary wavefront, giving it a near-cardioid radiation pattern. Well-controlled horn directivity keeps the soundstage from noticeably shifting in width across the 700Hz crossover region. A natural high-frequency rolloff above about 7-8kHz gives it an easy, non-fatiguing character for extended listening sessions. Measured bass extension of 43Hz (-3dB), with a measured sensitivity of 92.5dB.

Cons: At roughly $16500/pair, this is a major investment: the reviewer recommends buying from a dealer with a liberal return policy. Vertical response shows dips beyond about ±10-20°, with a larger null further out: an inherent trade-off of mating a 15” woofer to a horn compression driver at a 700Hz crossover, since crossing lower would hurt power handling and dynamic range. Horizontal directivity isn’t perfectly consistent with frequency: narrow (about ±20°) through 200-800Hz, briefly widening to near ±50° above the crossover, then narrowing again at high frequency. An unusual, non-constant pattern. The high-frequency rolloff that gives it an easy-listening character also reduces the sense of air and space in the soundstage when listening from off-center seats. Massive and heavy (about 120 lbs, roughly 36-37” tall): needs to be raised on a stand to bring the horn to ear level, and isn’t something one person easily moves alone. Only modest EQ adjustment is available on the speaker itself (about ±1-2dB bass/treble trim). Discontinued.

Bass Extension (-10dB)31Hz (measured, Erin’s Audio Corner)
Bass Extension (-3dB)43Hz (measured, Erin’s Audio Corner)
DIY KitNo
Dimensions37.2”H x 22.2”W x 16.8”D (944.9 x 563.9 x 426.7 mm)
Drivers15” (380mm) 2216Nd-1 Dual Differential Drive® woofer, 3” (75mm) D2430K dual compression tweeter
Impedance4 ohms nominal (5.3 ohms minimum above 80Hz, measured by Erin’s Audio Corner)
Sensitivity92.5dB (measured average, Erin’s Audio Corner)
Spinorama Preference Score5.07
Spinorama Preference Score with Perfect Sub6.88
Weight119 lbs (54 kg) each
Woofer Cabinetported, front

KEF Reference 203: $5,000 per pair Discontinued eBay

KEF Reference 203 ranking card

Newer model: the KEF Reference 3 Meta, ranked lower, rated 4.6/5.

Pros: An unusually accomplished 4-way design for its era: excellent on-axis linearity (within about +/-3dB), genuinely good directivity both horizontally (~55 degrees) and vertically (~40-50 degrees), and an estimated in-room response that closely matches what the reviewer actually heard. Distortion is excellent: under 1% harmonic above 80Hz at both 86dB and 96dB, and multitone stays around 1% even at 96dB. Bass reaches a real F3 of 51Hz (F10 37Hz), with in-room extension into the low-mid-40s. The reviewer’s overall listening notes were essentially “nothing stood out bad or good”: a genuinely neutral, accurate speaker with a distinctive rounded-baffle look that avoids the diffraction issues a flat baffle this wide would normally have. Measured bass extension of 51Hz (-3dB), with a measured sensitivity of 88dB.

Cons: This is a 20+ year old, long-discontinued speaker only findable secondhand (Facebook Marketplace, Craigslist, audio forums): condition, driver matching, and component aging vary by unit, so audition before buying if at all possible. Demands a robust amplifier: impedance dips to about 3.6 ohms with an EPDR of 2.2 ohms. The small supertweeter shows minor breakup artifacts at the extremes of the vertical polar plot and some compression at very high output in the top octave, though neither was audible in normal listening.

Bass Extension (-10dB)37Hz (measured, Erin’s Audio Corner)
Bass Extension (-3dB)51Hz (measured, Erin’s Audio Corner)
Crossover Frequency400Hz, 2.7kHz, 15kHz
DIY KitNo
Dimensions42”H (1067H mm)
Drivers1x 0.75” supertweeter, coaxial 1” dome tweeter + 6.5” midrange, 2x 6.5” woofers
Frequency Response55Hz - 55kHz ±3dB (Manufacturer specified)
Impedance8 ohms nominal (3.6 ohms minimum, measured, Erin’s Audio Corner; 3.2 ohms per manufacturer spec)
Recommended Power50-200W
Sensitivity88dB (2.83V/1m, measured by Erin’s Audio Corner)
Spinorama Preference Score5.83
Spinorama Preference Score with Perfect Sub7.84
Weight58 lbs (26.3 kg)
Woofer CabinetBass reflex, with switchable flat/cut/lifted bass ports for wall placement