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NVR, Inc.

NVR, Inc.

NYSE•NVR
CEO: Mr. Paul C. Saville
Sector: Consumer Cyclical
Industry: Residential Construction
Listing Date: 1985-07-22
NVR, Inc. operates as a homebuilder in the United States. The company operates through, Homebuilding and Mortgage Banking segments. It engages in the construction and sale of single-family detached homes, townhomes, and condominium buildings under the Ryan Homes, NVHomes, and Heartland Homes names. The company markets its Ryan Homes products to first-time and first-time move-up buyers; and NVHomes and Heartland Homes products to move-up and luxury buyers. It also provides various mortgage related services to its homebuilding customers, as well as brokers title insurance; performs title searches in connection with mortgage loan closings; and sells mortgage loans to investors in the secondary markets on a servicing released basis. The company primarily serves in Maryland, Virginia, West Virginia, Delaware, New Jersey, Eastern Pennsylvania, New York, Ohio, Western Pennsylvania, Indiana, Illinois, North Carolina, Georgia, South Carolina, Florida, Tennessee, and Washington, D.C. NVR, Inc. was founded in 1980 and is headquartered in Reston, Virginia.
Contact Information
Plaza America Tower I, Suite 500 11700 Plaza America Drive, Reston, VA, 20190, United States
703-956-4000
www.nvrinc.com
Market Cap
$21.65B
P/E (TTM)
15.5
13
Dividend Yield
--
52W High
$8.72K
52W Low
$6.56K
52W Range
49%
Rank4
8.1
F-Score
Modified Piotroski Analysis
Based on 10-year fundamentals
Excellent • 8.1 / 9 points
Scoring Range (0-9)
8-9: Excellent Value
6-7: Strong Fundamentals
4-5: Average Quality
0-3: Weak Performance
Data Period: 2015-2024

Financial Dashboard

Q3 2025 Data

Revenue

$2.51B-8.49%
4-Quarter Trend

EPS

$119.08-14.73%
4-Quarter Trend

FCF

$433.26M+23.77%
4-Quarter Trend

2025 Q3 Earnings Highlights

Key Highlights

Net Income Drops 20% Nine-month net income fell to $976.001 M USD, a 20.3% decrease versus prior year, driven by lower homebuilding profitability.
Homebuilding Margin Compression Homebuilding gross profit margin dropped 230 basis points to 21.5% for nine months, impacted by higher lot costs and pricing pressure.
Aggressive Share Repurchase Repurchased 178,178 shares for $1.331 B USD during nine months, supporting shareholder value creation efforts.
Mortgage Banking Fees Decline Mortgage banking fees decreased to $152.296 M USD for the quarter, down from $167.163 M USD year prior.

Risk Factors

New Orders Significantly Down Homebuilding new orders fell 16% in Q3 and 13% for nine months, reflecting ongoing demand weakness due to affordability issues.
Backlog Unit Reduction Total backlog units decreased 19% year-over-year to 9,165 units, signaling lower near-term settlement volume expectations.
Lot Deposit Impairment Charges Incurred $40.1 M USD pre-tax impairment charges on contract land deposits for the nine months ended September 30, 2025.
Effective Tax Rate Increase Effective tax rate rose to 24.5% for nine months versus 20.6% prior, due to lower excess tax benefits recognized.

Outlook

Expect Continued Volatility Management anticipates affordability issues and interest rate volatility will continue weighing on demand and home prices moving forward.
Maintain Disciplined Lot Strategy Company remains well positioned to capitalize on market volatility through strong balance sheet and disciplined lot acquisition strategy.
Sufficient Liquidity Position Cash holdings, operating cash flows, and committed credit facilities provide sufficient liquidity for short and long-term requirements.
Debt Covenants Met All financial covenants under the Senior Notes indenture were complied with as of September 30, 2025, with no borrowings outstanding on credit facility.

Peer Comparison

Revenue (TTM)

Lennar CorporationLEN
$34.77B
-4.7%
Li Auto Inc.LI
$17.75B
-9.8%
PulteGroup, Inc.PHM
$17.62B
+1.8%

Gross Margin (Latest Quarter)

Darden Restaurants, Inc.DRI
69.5%
+49.1pp
Restaurant Brands International Inc.QSR
48.4%
+13.6pp
Williams-Sonoma, Inc.WSM
46.1%
-0.7pp

Key Metrics

Symbol
Market Cap
P/E (TTM)
ROE (TTM)
Debt to Assets
LEN$30.53B11.411.2%10.1%
ULTA$26.51B22.246.9%36.7%
PHM$24.66B9.521.1%11.4%

Long-Term Trends

Last 4 Quarters
Revenue
Net Income
Operating Cash Flow
4Q Revenue CAGR
-4.2%
Flat Growth
4Q Net Income CAGR
-9.2%
Declining Profitability
Cash Flow Stability
100%
Strong Cash Flow

Research & Insights

Next earnings:Jan 27, 2026
|
EPS:$105.42
|
Revenue:$2.41B
Reports
All Years

  • Form 10-Q - Q3 2025

    Period End: Sep 30, 2025|Filed: Nov 5, 2025|
    Revenue: $2.51B-8.5%
    |
    EPS: $119.08-14.7%
    Beat

  • Form 10-Q - Q2 2025

    Period End: Jun 30, 2025|Filed: Aug 6, 2025|
    Revenue: $2.60B-0.5%
    |
    EPS: $114.37-10.8%
    Beat

  • Form 10-Q - Q1 2025

    Period End: Mar 31, 2025|Filed: May 5, 2025|
    Revenue: $2.35B+0.6%
    |
    EPS: $100.41-18.9%
    Miss

  • Form 10-K - FY 2024

    Period End: Dec 31, 2024|Filed: Feb 12, 2025|
    Revenue: $10.54B+10.6%
    |
    EPS: $540.88+10.0%
    Beat

  • Form 10-Q - Q3 2024

    Period End: Sep 30, 2024|Filed: Nov 5, 2024|
    Revenue: $2.74B+6.4%
    |
    EPS: $139.65+5.1%
    Beat

  • Form 10-Q - Q2 2024

    Period End: Jun 30, 2024|Filed: Aug 6, 2024|
    Revenue: $2.62B+11.7%
    |
    EPS: $128.21+3.5%
    Beat

  • Form 10-Q - Q1 2024

    Period End: Mar 31, 2024|Filed: May 6, 2024|
    Revenue: $2.34B+7.2%
    |
    EPS: $123.75+16.4%
    Beat

  • Form 10-K - FY 2023

    Period End: Dec 31, 2023|Filed: Feb 14, 2024|
    Revenue: $9.53B-9.5%
    |
    EPS: $491.52-6.4%
    Beat