NVR INC NVR

Industrials SIC 1531 - Operative Builders NAICS Construction › Construction of Buildings › Residential Building Construction derived NYSE

NVR, Inc., a Virginia corporation, was formed in 1980 as NVHomes, Inc. Our primary business is the construction and sale of single-family detached homes, townhomes and condominium buildings, all of which are primarily constructed on a pre-sold basis. To more fully serve customers of our homebuilding operations, we also operate a mortgage banking and title services business. We conduct our homebuilding activities directly. Our mortgage banking operations are operated primarily through a wholly owned subsidiary, NVR Mortgage Finance, Inc. ("NVRM"). Unless the context otherwise requires, references to "NVR", "we", "us" or "our" include NVR, Inc. and its consolidated subsidiaries.

We are one of the largest homebuilders in the United States. We operate in thirty-seven metropolitan areas in sixteen states, and Washington, D.C. Our homebuilding operations include the construction and sale of single-family detached homes, townhomes and condominium buildings under three trade names: Ryan Homes, NVHomes and Heartland Homes. Our Ryan Homes product is marketed primarily to first-time and first-time move-up buyers. Ryan Homes operates in thirty-seven metropolitan areas located in Maryland, Virginia, Washington, D.C., Delaware, West Virginia, Pennsylvania, Ohio, New York, New Jersey, Indiana, Illinois, North Carolina, South Carolina, Georgia, Florida, Tennessee and Kentucky. Our NVHomes and Heartland Homes products are marketed primarily to move-up and luxury buyers. NVHomes operates in Delaware, New Jersey, and the Washington, D.C., Baltimore, MD and Philadelphia, PA metropolitan areas. Heartland Homes operates in the Pittsburgh, PA metropolitan area.

Last close 5,983.68 2026-10-23
Market cap $15.95B 2026-06-30 share count
52-week range 5,501.01 - 8,200.00

Valuation FY2025 figures against the last close

P/S1.5x
P/E13.7x
P/FCF14.5x
EV/EBITDA—
Dividend yield—
Diluted EPS436.55

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue $10.32B$10.52B$9.52B$10.53B$8.95B$7.54B$7.39B$7.16B$6.31B$5.82B
Interest expense —$27.8M$27.7M$39.5M$53.1M$40.9M$25.4M$25.1M$24.2M$21.7M
Pre-tax income $1.76B$2.12B$1.93B$2.25B$1.59B$1.08B$1.03B$959.7M$846.9M$661.7M
Income tax $422.1M$433.6M$336.8M$527.6M$353.7M$176.8M$147.3M$162.5M$309.4M$236.4M
Net income $1.34B$1.68B$1.59B$1.73B$1.24B$901.2M$878.5M$797.2M$537.5M$425.3M
EPS, basic 462.00540.88491.52525.20345.37244.11241.31219.58144.00110.53
EPS, diluted 436.55506.69463.31491.82320.48230.11221.13194.80126.77103.61
Shares, diluted (wtd. avg.) 3.1M3.3M3.4M3.5M3.9M3.9M4.0M4.1M4.2M4.1M

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents $1.96B$2.66B$3.22B$2.57B$2.64B$2.81B$1.16B$732.2M$689.6M$416.0M
Total assets $5.86B$6.38B$6.60B$5.66B$5.83B$5.78B$3.81B$3.17B$2.99B$2.64B
Total liabilities $1.99B$2.17B$2.24B$2.15B$2.83B$2.67B$1.47B$1.36B$1.38B$1.34B
Retained earnings $16.39B$15.05B$13.37B$11.77B$10.05B$8.81B$7.91B$7.03B$6.23B$5.70B
Total equity $3.86B$4.21B$4.36B$3.51B$3.00B$3.10B$2.34B$1.81B$1.61B$1.30B

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow $1.12B$1.37B$1.50B$1.87B$1.24B$925.3M$866.5M$723.1M$570.4M$393.0M
Depreciation and amortisation $24.5M$18.4M$16.9M$17.4M$19.5M$22.0M$20.8M$20.2M$22.7M$22.3M
Stock-based compensation $69.2M$73.9M$99.5M$82.5M$58.2M$50.8M$78.5M$75.7M$44.6M$43.6M
Capital expenditure $24.5M$29.2M$24.9M$18.4M$17.9M$16.1M$22.7M$19.7M$20.3M$22.4M
Investing cash flow -$71.2M-$26.6M-$24.1M-$27.4M-$18.2M-$3.9M-$13.3M-$8.2M-$15.2M-$10.3M
Financing cash flow -$1.76B-$1.90B-$833.0M-$1.91B-$1.40B$727.6M-$424.7M-$672.3M-$281.6M-$417.4M
Buybacks $1.83B$2.06B$1.08B$1.50B$1.54B$371.1M$698.4M$846.1M$422.2M$455.4M

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0000906163-26-000018.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. 0 5B 10B 15B Revenue, FY2016: 5.8B Net income, FY2016: 425.3M Revenue, FY2017: 6.3B Net income, FY2017: 537.5M Revenue, FY2018: 7.2B Net income, FY2018: 797.2M Revenue, FY2019: 7.4B Net income, FY2019: 878.5M Revenue, FY2020: 7.5B Net income, FY2020: 901.2M Revenue, FY2021: 9B Net income, FY2021: 1.2B Revenue, FY2022: 10.5B Net income, FY2022: 1.7B Revenue, FY2023: 9.5B Net income, FY2023: 1.6B Revenue, FY2024: 10.5B Net income, FY2024: 1.7B Revenue, FY2025: 10.3B Net income, FY2025: 1.3B FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue $5.82B $6.31B $7.16B $7.39B $7.54B $8.95B $10.53B $9.52B $10.52B $10.32B
Gross profit — — — — — — — — — —
Net income $425.3M $537.5M $797.2M $878.5M $901.2M $1.24B $1.73B $1.59B $1.68B $1.34B

Recent filings and events

  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Results announced Item 2.02
  • Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
  • Results announced Item 2.02
  • Results announced Item 2.02
  • Officer or director change Item 5.02
  • Results announced Item 2.02
  • Officer or director change Item 5.02
  • Shareholder vote Item 5.07
  • Results announced Item 2.02

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

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KBH KB HOME $2.88B 7.7x -10.0%
GRBK Green Brick Partners, Inc. $2.77B 9.1x -1.0%