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Not Investment Advice

NVR

NYSE · USD
NVR, Inc.
Consumer Cyclical · Residential Construction
CEO Eugene James Bredow Employees 6,300 R&D / revenue 0.0%
Last price
$5,919.82−0.35%last session
Market cap
$15.9B
P/E (TTM)
14.6x
From 52w high
−27.8%
From 52w low
+7.6%
1-year return
−22.2%
RSI 14 · vs SMA200
43.7 · −10.5%
IS score
48.1/ 100
Factor model across 8 sub-scores, ranked against 3,010 US stocks. Describes the business, not the outlook.
Download full factsheet (PDF)

One year, rebased to 100

NVR   SPY   XLY (sector ETF) · weekly closes
708090100110120Jan 26Apr 26Jul 26Oct 26SPY 116XLY 97NVR 78

Score DNA

Each bar is a 0-100 score within the scored universe
62
Profitability
16
Growth
53
Value
39
Momentum
100
Risk (safety)
67
Quality
95
Balance sheet
88
Earnings quality

Flags

Strengths
✓ Net cash✓ FCF yield 5%+✓ Insider buying✓ Congress buying
Warnings
▲ Beneish M above -1.78
Observations
Moat model: Weak, Efficient ScalePiotroski 3 / 9Altman Z 13.1Beta 0.914 of 4 smart-money sources active

Smart-money strip

Each disclosure source on its own window. Filings coinciding is not coordination.
INSForm 4 · 180 days
Insider open-market buys
2
$0.48M bought
Form 144 notices (12m): 4, $8.9M proposed, not confirmed sales
CONGSTOCK Act · 180 days
Congressional purchases
2
Last disclosed purchase 2026-09-11
Members disclose in ranges, 30-45 days after the trade
13F13F · quarter to 2026-06-30
Net change in institutional holders
+33
92 new holders, 53 closed
690 filers hold 88.2% · 243 added, 238 trimmed
ETFETF holdings · 30 days
Net funds accumulating
+4
554 funds adding shares
550 funds trimming · counts of funds, not dollars
DARKFINRA · daily
Short-sale share of off-exchange volume
65.0%
20-day avg 62.5%, 50-day avg 59.6%
Latest 2.5 pp over its 20-day average · a flow, not short interest

Key financials · FY2025

USD, fiscal year. Stock-based compensation is non-cash; shown against FCF.
Income statement
Revenue$10.3B
Revenue growth YoY−2.1%
Gross margin23.0%
Operating income$1.7B
Operating margin16.2%
Net income$1.3B
Net margin13.0%
EPS (diluted)$436.55
Cash flow
Operating cash flow$1.1B
Capital expenditure$24.5M
Free cash flow$1.1B
FCF conversion (FCF / OCF)97.8%
Stock-based compensation$69.2M
FCF less SBC$1.0B
Buybacks$1.8B
Dividends$0
Balance sheet & returns
Cash & short-term investments$2.0B
Total debt$1.1B
Net cash$904.0M
Shareholders' equity$3.9B
Goodwill & intangibles$0
Debt / equity0.31
ROE (TTM)31.0%
ROIC (TTM)24.3%
Operating margin by fiscal year
16.4%FY202120.6%FY202219.1%FY202318.9%FY202416.5%FY2025
Revenue $9.0B (FY2021) to $10.3B (FY2025), a 3.6% CAGR.

Valuation

P/E (TTM)14.6x
EV / EBITDA10.3x
Price / sales1.68x
Price / FCF15.2x
FCF yield6.60%
Buyback yield11.56%
SBC / revenue0.7%
Price / book4.78x
Forward P/E FY202616.5x
Forward P/E FY202715.1x
Forward P/E FY202813.3x
Forward multiples divide today's price by Street EPS estimates. Street mean target $6,757.25 across 4 analysts last quarter is theirs, not ours.

NVR vs industry median

52 companies in Residential Construction
Gross margin 22.2% 18.7% Operating margin 14.9% 7.5% Net margin 12.1% 4.6% ROIC 24.3% 9.0%
NVR (TTM)Industry median Asset turnover 1.72 vs industry 0.92 · financial leverage 1.61

Earnings delivery

Next report 2026-10-22 · consensus EPS $102.77
58%
beat rate, 7 of 12 quarters
+1.1%
median EPS surprise
3
longest beat streak
+8+0+12-0-0+9-11+2+3+15-13-7
EPS surprise in % vs the consensus at the time, oldest (left) to newest, 2023-10-24 to 2026-07-23. Bars cap at ±60%.

Peers

Market-cap band, not the industry cohort above
CompanyMkt capP/EROENet marginRev growth12m return
NVR NVR, Inc. $15.9B14.6x31.0%12.1%−2.1% −22.2%
LEN Lennar Corporation $18.3B14.6x5.9%3.5%−8.1% −35.9%
TOL Toll Brothers, Inc. $12.3B10.7x14.4%10.5%−1.1% +0.3%
PHM PulteGroup, Inc. $21.6B11.6x14.9%11.9%−7.3% −7.5%
TMHC Taylor Morrison Home Corpora $6.7B10.6x11.0%7.2%−9.0% +5.4%
DHI D.R. Horton, Inc. $39.0B13.2x12.8%9.8%−3.5% —
IBP Installed Building Products, $4.9B19.9x38.5%8.3%+0.3% —
MDC M.D.C. Holdings, Inc. $4.7B54.8x2.5%2.2%+5,346.9% —
12-month window: SPY +15.9%, sector ETF XLY −3.2%. Past returns describe history only.

Recent 8-K filings

2026-07-23Earnings Release; Exhibits
2026-05-15Officer/Director Change; Exhibits
2026-05-08Shareholder Vote; Exhibits
2026-04-22Earnings Release; Exhibits
2026-01-28Results of Operations and Financial Condition; Financial Statements and Exhibits
2025-10-22Results of Operations and Financial Condition; Financial Statements and Exhibits

Context

Shares outstanding2,678,153
Free float97.9%
Institutional ownership88.2%
Beta0.91
Dividend yield0.00%
Last dividend$0.17 on 1990-02-23
50 / 200-day average$6,208.23 / $6,621.41
Large-cap Consumer Cyclical median P/E24.3x

Full factsheet

The PDF carries everything on this page plus the cash-allocation waterfall, Form 144 notices, 13F holder detail, dark-pool and short-flow history, seasonality and the moat assessment (Weak).

Read it in the browser Download (PDF)

All fundamentals · 140 measures in 13 categories

Percentile = where NVR sits among 20 scored companies in Residential Construction (0 = lowest value, 100 = highest). It is a position, not a grade.
ValuationProfitability (TTM)Returns on capitalGrowthMargin history & stabilityLiquidity (latest quarter)Leverage & solvency (latest quarter)EfficiencyCash flow & earnings qualityDividends & buybacksScores & forensic checksPer shareSize (TTM)

Valuation

MeasureNVRIndustry medianIndustry percentileSector median
P/E (TTM) 13.9x 12.8x
56th		 17.7x
PEG (P/E ÷ 3-yr EPS CAGR) —
Price / sales 1.7x 0.8x
89th		 1.0x
Price / book 4.7x 1.1x
95th		 2.4x
Price / tangible book 5.8x 1.2x
100th		 4.2x
Price / free cash flow 15.2x 15.8x
41st		 15.2x
Price / operating cash flow 14.9x 14.0x
56th		 10.2x
Enterprise value $15.7B $3.7B
79th		 $5.6B
EV / sales 1.7x 1.2x
89th		 1.4x
EV / EBITDA 10.3x 10.7x
44th		 11.4x
EV / EBIT 10.5x 11.3x
33rd		 16.0x
EV / free cash flow 15.0x 16.2x
35th		 21.0x
Earnings yield 7.2% 7.5%
47th		 4.8%
FCF yield 6.6% 6.1%
63rd		 5.9%
Operating cash flow yield 6.7% 6.9%
47th		 9.3%
Graham number (per share) $3,249.28 $91.95
100th		 $33.39

Profitability (TTM)

MeasureNVRIndustry medianIndustry percentileSector median
Gross margin 22.2% 22.4%
47th		 34.2%
EBITDA margin 16.1% 10.2%
84th		 11.7%
Operating margin 14.9% 9.5%
79th		 8.7%
EBIT margin 15.9% 9.3%
89th		 8.2%
Net margin 12.1% 6.6%
89th		 4.9%
NOPAT margin 11.5% 7.3%
79th		 6.8%
FCF margin 11.1% 7.0%
95th		 6.5%
Operating cash flow margin 11.3% 7.8%
89th		 10.4%
R&D / revenue 0.0% 0.0%
0th		 0.0%
SG&A / revenue 7.3% 11.4%
16th		 17.2%
Stock comp / revenue 0.7% 0.4%
89th		 0.6%
Effective tax rate 23.0% 23.2%
47th		 22.4%

Returns on capital

MeasureNVRIndustry medianIndustry percentileSector median
ROE (on average equity) 31.5% 9.6%
95th		 12.8%
ROA 20.0% 5.5%
100th		 4.4%
ROIC 33.3% 9.7%
100th		 9.3%
ROCE 33.6% 8.8%
100th		 9.9%
Return on tangible assets 26.2% 8.3%
100th		 7.4%
Cash ROIC (OCF / invested capital) 32.9% 6.5%
95th		 14.4%
Gross profitability (GP / assets) 38.3% 18.3%
95th		 31.6%
ROIC, 3-yr average 31.0% 11.1%
100th		 7.4%
ROIC, 5-yr average 38.3% 15.7%
95th		 9.1%
ROE, 5-yr average 40.5% 19.0%
100th		 15.8%
Incremental ROIC 20.5% 13.2%
63rd		 11.2%

Growth

MeasureNVRIndustry medianIndustry percentileSector median
Revenue growth (TTM YoY) -10.6% -8.4%
26th		 6.0%
Revenue growth (QoQ) 23.7% 16.7%
79th		 6.6%
Revenue CAGR, 3 yr -2.0% -0.4%
26th		 3.0%
Revenue CAGR, 5 yr 1.7% 4.2%
37th		 5.9%
Gross profit CAGR, 3 yr -6.9% -5.5%
42nd		 3.3%
Operating income CAGR, 3 yr -10.1% -13.5%
61st		 2.1%
Net income growth (TTM YoY) -24.9% -37.9%
61st		 4.7%
Net income CAGR, 3 yr -10.9% -17.1%
72nd		 1.4%
EPS growth (TTM YoY) -18.5% -34.4%
67th		 7.6%
EPS CAGR, 3 yr -5.1% -15.0%
78th		 3.4%
EPS CAGR, 5 yr 6.5% 1.0%
61st		 2.9%
FCF growth (TTM YoY) -13.4% 18.5%
31st		 26.3%
FCF CAGR, 3 yr -15.7% -22.0%
73rd		 6.5%
Operating cash flow CAGR, 3 yr -15.5% -23.2%
69th		 6.7%
Book value CAGR, 3 yr -0.5% 9.6%
0th		 8.1%
Dividend CAGR, 3 yr —
Sustainable growth rate 31.5% 9.5%
100th		 12.2%

Margin history & stability

MeasureNVRIndustry medianIndustry percentileSector median
Gross margin, 3-yr average 24.0% 23.4%
58th		 34.9%
Operating margin, 3-yr average 17.2% 9.9%
84th		 8.0%
Net margin, 3-yr average 14.3% 8.1%
84th		 4.8%
FCF margin, 3-yr average 12.6% 4.1%
100th		 5.7%
Revenue stability (0-1) 0.32 0.44
26th		 0.80
Earnings stability (0-1) 0.00 0.36
0th		 0.43
Margin stability (0-1) 0.93 0.89
89th		 0.92

Liquidity (latest quarter)

MeasureNVRIndustry medianIndustry percentileSector median
Cash & short-term investments $1.2B $328.0M
89th		 $278.1M
Net cash (− = net debt) $146.6M −$740.8M
89th		 −$1.2B
Working capital $2.5B $2.4B
53rd		 $298.0M
Current ratio 3.38 4.60
32nd		 1.49
Quick ratio 1.21 1.17
58th		 0.92
Cash ratio (cash + ST investments / current liabilities) 1.16 0.61
84th		 0.31
Defensive interval (days) 659 days 411 days
84th		 290 days

Leverage & solvency (latest quarter)

MeasureNVRIndustry medianIndustry percentileSector median
Total debt $1.1B $1.3B
42nd		 $1.8B
Debt / equity 0.31 0.33
42nd		 1.04
Net debt / equity −0.04 0.21
16th		 0.78
Debt / assets 19.2% 19.8%
42nd		 39.7%
Debt / capital 23.7% 24.6%
42nd		 51.0%
Debt / EBITDA 0.69 1.95
17th		 3.26
Net debt / EBITDA −0.10 1.24
17th		 2.42
Interest coverage (EBIT / interest) 2,889.8x 32.9x
92nd		 5.1x
Cash interest coverage 2,063.0x 36.7x
92nd		 6.0x
Debt payback (years of OCF) 1.0 yrs 4.1 yrs
18th		 3.8 yrs
Liabilities / assets 38.0% 36.5%
53rd		 68.1%
IS credit model rating AAA — —
Implied credit spread (bps) 50 80
0th		 275

Efficiency

MeasureNVRIndustry medianIndustry percentileSector median
Asset turnover 1.65 0.92
100th		 1.00
Fixed asset turnover 39.21 34.82
53rd		 3.73
Inventory turnover 3.3 1.1
84th		 5.3
Receivables turnover 206.8 37.6
94th		 19.9
Days sales outstanding 2 days 7 days
16th		 18 days
Days inventory outstanding 110 days 332 days
16th		 68 days
Days payables outstanding 21 days 21 days
58th		 42 days
Cash conversion cycle (days) 90 days 223 days
16th		 44 days
Capex / revenue 0.2% 0.6%
16th		 3.1%
Capex / depreciation 0.77 1.15
32nd		 0.89
Operating expense ratio 7.6% 12.3%
0th		 24.8%

Cash flow & earnings quality

MeasureNVRIndustry medianIndustry percentileSector median
Operating cash flow / net income 0.93 0.93
50th		 1.76
FCF / net income 0.92 0.79
61st		 1.18
FCF / operating cash flow 98.1% 90.4%
88th		 70.1%
Capex / operating cash flow 1.9% 9.6%
12th		 29.9%
Accruals ratio 1.3% 0.5%
68th		 -5.7%
Sloan accruals ratio -31.6% -0.3%
5th		 -3.6%
Earnings quality score (0-1) 0.75 0.75
44th		 0.75

Dividends & buybacks

MeasureNVRIndustry medianIndustry percentileSector median
Dividend yield 0.0% 0.0%
0th		 0.8%
Dividend per share (TTM) $0.00 $0.00
0th		 $0.40
Payout ratio (dividends / net income) 0.0% 9.9%
0th		 17.8%
Dividends / FCF 0.0% 7.2%
0th		 11.6%
Dividend growth (YoY) —
Buyback yield 11.3% 5.4%
95th		 1.6%
Shareholder yield (dividends + buybacks) 11.3% 6.7%
89th		 3.7%
Share count change (YoY) -7.9% -4.7%
16th		 -0.9%
Buybacks, last 5 years $4.7B $615.5M
89th		 $198.3M

Scores & forensic checks

MeasureNVRIndustry medianIndustry percentileSector median
IS score 48 41
74th		 50
IS profitability 62 31
95th		 38
IS growth 16 16
47th		 53
IS value 53 79
21st		 50
IS momentum 39 38
53rd		 72
IS risk (safety) 100 95
53rd		 65
IS quality 67 58
74th		 63
IS balance sheet 95 72
95th		 48
IS earnings quality 88 83
79th		 77
IS cash flow 57 56
58th		 56
Piotroski F-score (0-9) 3 4
0th		 6
Altman Z-score 13.1 4.0
100th		 2.8
Beneish M-score −1.13 −2.46
89th		 −2.69
Ohlson O-score −10.13 −9.71
21st		 −6.83
IS credit score 96 87
79th		 58

Per share

MeasureNVRIndustry medianIndustry percentileSector median
EPS, diluted (TTM) $397.40 $5.23
100th		 $2.05
Book value per share $1,180.78 $85.63
100th		 $14.46
Tangible book per share $1,238.11 $76.78
100th		 $3.70
Revenue per share $3,281.80 $111.77
100th		 $46.29
FCF per share $364.35 $5.23
100th		 $2.72
Operating cash flow per share $371.38 $5.58
100th		 $4.86
Cash per share $416.87 $8.47
100th		 $3.59

Size (TTM)

MeasureNVRIndustry medianIndustry percentileSector median
Market cap $15.9B $3.5B
79th		 $3.6B
Revenue $9.4B $4.0B
74th		 $3.9B
EBITDA $1.5B $361.3M
74th		 $442.3M
Net income $1.1B $239.1M
74th		 $178.6M
Free cash flow $1.0B $199.4M
84th		 $206.3M
Total assets $5.5B $4.3B
63rd		 $4.4B
Shareholders' equity $3.4B $2.3B
63rd		 $957.6M
Employees 6,300 2,014
63rd		 12,300

Insider transactions, last 6 months

Form 4 · most recent 12
DateInsiderTypeSharesPriceValueOwned after
2026-08-07Oliver George
Director
 Open-market buy 63$6,431.51$405,18563
2026-07-30Martinez Melquiades R.
Director
 Gift 29——162
2026-05-29Ross Susan Williamson
Director
 Option exercise 238$1,700.00$404,600624
2026-05-29Ross Susan Williamson
Director
 Option exercise 238$1,700.00$404,6000
2026-05-14Saville Paul C
Executive Chairman
 Award / grant 2,619$5,720.10$15.0M2,619
2026-05-14Bredow Eugene James
Chief Executive Officer
 Award / grant 2,619$5,720.10$15.0M2,619
2026-05-14Malzahn Daniel David
Chief Financial Officer
 Award / grant 1,335$5,720.10$7.6M1,335
2026-05-14Kelpy Matthew B.
VP, Chief Accounting Officer
 Award / grant 272$5,720.10$1.6M272
2026-05-14Andrews Charles Elliott
Director
 Award / grant 154$5,720.10$880,895154
2026-05-14Festa Alfred E
Director
 Award / grant 154$5,720.10$880,895154
2026-05-14Oliver George
Director
 Award / grant 154$5,720.10$880,895154
2026-05-14Ross Susan Williamson
Director
 Award / grant 154$5,720.10$880,895154

Shares acquired vs disposed, by month

acquired disposed · all Form 4 types
AprMayJulAug

By transaction type, 6 months

TypeDirectionFilingsSharesValue
Award / grantAcquired148,385$48.0M
DiscretionaryAcquired2140$847,571
GiftDisposed129—
Open-market buyAcquired274$478,880
Option exerciseAcquired1238$404,600
Option exerciseDisposed1238$404,600
Awards, option exercises and tax withholding are compensation mechanics; open-market buys and sales are the discretionary ones.

Form 144 notices

12 months: 4 notices · 1,120 shares · $8.9M
FiledFilerShares proposedEst. proceeds
2026-02-13Ross Susan Williamson200$1.6M
2026-02-10Matthew B. Kelpy500$3.9M
2026-02-05Ross Susan Williamson200$1.6M
2026-02-04Ross Susan Williamson220$1.7M
A Form 144 is notice of a proposed sale, not a confirmed one.

Congress trades

12 months: House 7 trades (5 purchases) · Senate 0 (0 purchases)
TradedMemberChamberTypeAmountDisclosed
2026-09-11Ro KhannaHousePurchase$1,001 - $15,0002026-10-09
2026-09-02Ro KhannaHousePurchase$1,001 - $15,0002026-10-09
2026-03-19Maria Elvira SalazarHousePurchase$1,001 - $15,0002026-04-22
2026-03-19Maria Elvira SalazarHousePurchase$1,001 - $15,0002026-04-22
STOCK Act disclosures, in ranges, filed up to 45 days after the trade.

Largest 13F holders

Quarter to 2026-06-30, the latest most managers have filed
ManagerSharesValue% of shares out
BlackRock, Inc.294,174$2.0B10.98%
VANGUARD CAPITAL MANAGEMENT LLC174,915$1.2B6.53%
Capital Research Global Investors163,844$1.1B6.12%
STATE STREET CORP128,768$877.3M4.81%
VANGUARD PORTFOLIO MANAGEMENT LLC113,182$771.2M4.23%
GEODE CAPITAL MANAGEMENT, LLC73,735$500.4M2.75%
PRINCIPAL FINANCIAL GROUP INC58,535$398.8M2.19%
Invesco Ltd.46,803$318.9M1.75%
Capital World Investors40,876$278.5M1.53%
NORGES BANK38,888$265.0M1.45%
DIMENSIONAL FUND ADVISORS LP37,508$255.6M1.40%
MORGAN STANLEY30,873$210.4M1.15%
GOLDMAN SACHS GROUP INC30,477$207.7M1.14%
WELLINGTON MANAGEMENT GROUP LLP30,426$207.3M1.14%
CAISSE DE DEPOT ET PLACEMENT DU QUEBEC28,490$194.1M1.06%

Institutional ownership by quarter

2023-092026-0688.2%
% of shares held by 13F filers
2023-092026-06690
Number of 13F filers holding

Holder changes by quarter

QuarterHoldersOwnershipNewIncreasedReducedClosed
2026-06-3069088.2%9224323853
2026-03-3165784.6%6222623380
2025-12-3168988.4%8821424662
2025-09-3067889.7%6921023642
2025-06-3065691.0%7221923079
2025-03-3167893.1%6922822281
2024-12-3170093.6%8419924674
2024-09-30702106.4%7919926138
2024-06-3067094.0%5020723543
2024-03-3167695.4%7520024243
2023-12-3164797.0%9917225636
2023-09-30597101.9%5120820847

Schedule 13D / 13G filers

FiledFormFiler% of classShares
2026-05-14SCHEDULE 13GCapital Research Global Investors5.9%162,965
2026-04-30SCHEDULE 13GVanguard Capital Management7.4%205,105
2026-04-24SCHEDULE 13G/ABlackRock, Inc.8.9%247,270
2026-03-27SCHEDULE 13G/AThe Vanguard Group0.0%0
Required above 5% of a class; 13G is the passive form.

ETFs with the largest holding

ETFWeight in fundHolding value
VITSX0.02%$493.4M
VTSAX0.02%$493.4M
VSMPX0.02%$493.4M
VTI0.02%$493.4M
VFIAX0.02%$408.8M
VOO0.02%$408.8M

Share structure

Shares outstanding2,678,153
Float2,621,050
Free float97.9%

Income statement

Fiscal years, USD
FY2021FY2022FY2023FY2024FY2025
Revenue$9.0B$10.5B$9.5B$10.5B$10.3B
Cost of revenue$6.8B$7.7B$7.1B$7.9B$8.0B
Gross profit$2.2B$2.9B$2.5B$2.7B$2.4B
R&D$0$0$0$0$0
SG&A$563.4M$625.3M$680.0M$699.1M$699.1M
Operating income$1.5B$2.2B$1.8B$2.0B$1.7B
EBITDA$1.7B$2.3B$2.0B$2.2B$1.8B
Pretax income$1.6B$2.3B$1.9B$2.1B$1.8B
Income tax$353.7M$527.6M$336.8M$433.6M$422.1M
Net income$1.2B$1.7B$1.6B$1.7B$1.3B
EPS, diluted$320.48$491.82$463.31$506.69$436.55
Diluted shares3.9M3.5M3.4M3.3M3.1M

Balance sheet

FY2021FY2022FY2023FY2024FY2025
Cash & short-term investments$2.6B$2.5B$3.2B$2.6B$2.0B
Receivables$18.6M$20.8M$29.0M$32.6M$32.7M
Inventory$1.9B$1.8B$2.0B$2.1B$1.7B
Total current assets$5.4B$5.2B$6.0B$5.8B$3.7B
PP&E, net$72.4M$90.7M$100.3M$109.2M$246.0M
Goodwill & intangibles$0$0$0$0$0
Total assets$5.8B$5.7B$6.6B$6.4B$5.9B
Accounts payable$388.0M$395.4M$475.2M$386.2M$313.0M
Total current liabilities$1.2B$1.1B$1.2B$1.2B$939.2M
Long-term debt$1.5B$914.9M$913.0M$911.1M$1.1B
Total liabilities$2.8B$2.2B$2.2B$2.2B$2.0B
Shareholders' equity$3.0B$3.5B$4.4B$4.2B$3.9B

Cash flow statement

Outflows are negative
FY2021FY2022FY2023FY2024FY2025
Net income$1.2B$1.7B$1.6B$1.7B$1.3B
Depreciation & amortization$19.5M$17.4M$16.9M$18.4M$24.5M
Stock-based compensation$58.2M$82.5M$99.5M$73.9M$69.2M
Change in working capital−$167.0M−$12.1M−$229.3M−$308.4M−$148.4M
Operating cash flow$1.2B$1.9B$1.5B$1.4B$1.1B
Capital expenditure−$17.9M−$18.4M−$24.9M−$29.2M−$24.5M
Free cash flow$1.2B$1.9B$1.5B$1.3B$1.1B
Investing cash flow−$18.2M−$27.4M−$24.1M−$26.6M−$71.2M
Net debt issued / repaid−$1.4M−$601.5M−$1.7M−$2.6M−$4.7M
Buybacks−$1.5B−$1.5B−$1.1B−$2.1B−$1.8B
Dividends paid$0$0$0$0$0

Ratio history

Margins on the fiscal-year (TTM at Q4) basis; multiples at each year end
FY2021FY2022FY2023FY2024FY2025
Gross margin24.5%27.3%26.0%25.5%22.8%
Operating margin16.4%20.6%19.1%18.9%16.5%
Net margin13.8%16.4%16.7%16.0%13.2%
FCF margin13.7%17.6%15.4%12.8%10.8%
ROE40.5%53.0%40.4%39.2%33.2%
ROIC56.6%83.4%67.9%60.3%41.0%
ROA21.3%30.0%26.0%25.9%21.9%
Debt / equity0.530.290.230.240.31
Interest coverage30.9x58.0x70.5x77.1x63.5x
Current ratio4.354.534.905.073.95
Revenue growth+18.7%+17.6%−9.5%+10.6%−3.5%
EPS growth+44.9%+53.7%−6.8%+7.4%−11.7%
P/E at year end17.9x9.1x14.8x16.1x16.3x
EV / EBITDA at year end12.8x6.2x10.9x11.8x11.6x
FCF yield at year end5.52%11.78%6.24%4.96%5.02%
Dividend payout0.0%0.0%0.0%0.0%0.0%

Revenue by segment

FY2021FY2022FY2023FY2024FY2025
Home Building Segment$8.7B$10.3B$9.3B$10.3B$10.1B
Mortgage Banking Segment$249.3M$199.7M$203.6M$232.1M$229.7M

Street estimates by fiscal year

Next report 2026-10-22 · consensus EPS $102.77 · these are analysts' numbers, not ours
Fiscal yearRevenue (mean)Revenue rangeEPS (mean)EPS rangeAnalystsP/E on mean EPS
2026$9.4B$9.4B – $9.4B$358.78$349.99 – $363.12516.5x
2027$9.8B$9.5B – $10.0B$392.74$358.06 – $418.25515.1x
2028$10.1B$10.1B – $10.1B$446.44$413.10 – $479.78213.3x

Reported vs expected, every quarter on file

ReportedEPS expectedEPS actualEPS surpriseRevenue expectedRevenue actualRevenue surprise
2026-07-23$0.90$0.84−6.7%$2.4B$2.3B−3.0%
2026-04-22$0.78$0.68−13.4%$2.0B$1.9B−8.1%
2026-01-28$1.06$1.22+14.8%$2.5B$2.7B+9.5%
2025-10-22$109.36$112.33+2.7%$2.6B$2.5B−1.9%
2025-07-23$106.20$108.54+2.2%$2.5B$2.6B+4.0%
2025-04-22$106.07$94.83−10.6%$2.4B$2.4B−0.2%
2025-01-28$127.85$139.93+9.4%$2.8B$2.9B+1.4%
2024-10-22$131.00$130.50−0.4%$2.7B$2.7B+1.0%
2024-07-23$121.21$120.69−0.4%$2.6B$2.6B−0.2%
2024-04-23$103.97$116.41+12.0%$2.3B$2.3B+3.5%
2024-01-30$121.50$121.56+0.0%$2.6B$2.4B−9.1%
2023-10-24$115.60$125.26+8.4%$2.6B$2.6B−1.3%
2023-07-25$100.33$116.54+16.2%$2.4B$2.3B−0.4%
2023-04-25$88.96$99.89+12.3%$2.2B$2.2B−2.6%
2023-01-31$98.88$133.44+35.0%$2.5B$2.7B+8.6%
2022-10-25$121.71$118.51−2.6%$2.6B$2.8B+7.5%
2022-07-26$126.77$123.65−2.5%$2.6B$2.7B+2.7%
2022-04-26$96.98$116.56+20.2%$2.4B$2.4B+1.0%
2022-02-01$99.76$89.09−10.7%$2.6B$2.2B−13.6%
2021-10-21$92.51$86.44−6.6%$2.4B$2.4B−0.4%
2021-07-21$72.53$82.45+13.7%$2.4B$2.3B−5.0%
2021-04-21$63.01$63.21+0.3%$2.1B$2.0B−2.2%
2021-01-28$79.82$76.93−3.6%$2.3B$2.3B+1.3%
2020-10-20$59.89$65.11+8.7%$1.8B$2.0B+12.8%

Off-exchange (dark pool) volume, weekly

FINRA ATS, $ billions · through the week of 2026-08-31 (FINRA publishes with a delay)
0.106-150.206-220.106-290.207-060.307-130.307-200.307-270.308-030.208-100.308-170.208-240.308-31
Week ofNotionalSharesTrades
2026-08-31$315.1M49,7748,764
2026-08-24$222.7M34,9317,172
2026-08-17$262.4M41,3269,017
2026-08-10$217.3M34,3688,609
2026-08-03$314.5M49,8839,591
2026-07-27$267.4M42,16910,149

Short-sale share of off-exchange volume

daily 20-day average
07-2310-1565.0%
DateShort shareShort volumeTotal volume
2026-10-1565.0%14,18021,804
2026-10-1475.1%16,47421,951
2026-10-1373.1%12,39916,951
2026-10-1255.9%8,87015,881
2026-10-0957.7%5,1828,989
2026-10-0847.7%7,89116,532
2026-10-0762.8%8,69613,848
2026-10-0659.3%6,97111,751
2026-10-0562.0%11,66818,828
2026-10-0266.0%10,64516,138
A daily flow measure from FINRA, not short interest.

Seasonality

Average return by calendar month
+5.3Jan-2.9Feb+1.2Mar+3.8Apr-1.4May-1.0Jun+2.0Jul+1.7Aug-1.4Sep-0.4Oct+3.4Nov+3.1Dec
MonthAvg returnUp yearsYears
Jan+5.3%75%20
Feb−2.9%25%20
Mar+1.2%62%21
Apr+3.8%45%20
May−1.4%60%20
Jun−1.0%50%20
Jul+2.0%50%20
Aug+1.7%60%20
Sep−1.4%35%20
Oct−0.4%45%20
Nov+3.4%75%20
Dec+3.1%75%20
History, not a forecast.

Indicators

as of 2026-10-16
RSI 1443.7
MFI27.4
ADX14.9
Stochastic %K / %D34.2 / 22.3
Williams %R-54.7
CCI-36
TSI / signal-20.1 / -16.2
Chaikin money flow0.06
ATR$167.94
Bollinger width12.1%
Volume vs 20-day avg0.92x
SupertrendDown

Moving averages and bands

level (price vs level)
SMA 20$6,053.54 (−2.2%)
SMA 50$6,200.52 (−4.5%)
SMA 200$6,614.38 (−10.5%)
EMA 21$6,013.52 (−1.6%)
EMA 50$6,150.61 (−3.8%)
EMA 200$6,566.59 (−9.8%)
Bollinger upper$6,418.20 (−7.8%)
Bollinger lower$5,688.88 (+4.1%)
Parabolic SAR$5,616.78 (+5.4%)
Open the live chart, 110+ indicators

About NVR, Inc.

NVR, Inc. functions as a prominent home construction company within the United States, organized into two primary divisions: homebuilding and mortgage banking. Within its homebuilding segment, the company develops and sells various residential units, including detached houses, townhouses, and condominium complexes, marketed under the brand names Ryan Homes, NVHomes, and Heartland Homes. Ryan Homes typically targets individuals purchasing their first home or those in their initial property upgrade, while NVHomes and Heartland Homes cater to a more affluent clientele of move-up and luxury buyers. Additionally, NVR offers a range of financial services to its homebuilding customers through its mortgage banking arm, which includes brokering title insurance, performing title searches for loan settlements, and transferring mortgage loans to investors in the secondary markets without retaining servicing rights. The company's operational footprint spans numerous states and the District of Columbia, encompassing Maryland, Virginia, West Virginia, Delaware, New Jersey, Eastern Pennsylvania, New York, Ohio, Western Pennsylvania, Indiana, Illinois, North Carolina, South Carolina, Florida, and Tennessee. Established in 1980, NVR, Inc. maintains its corporate headquarters in Reston, Virginia.

https://www.nvrinc.com

Key executives

NameTitlePayBorn
Paul C. SavilleExecutive Chairman of the Board$3.0M1956
Eugene James BredowPresident & Chief Executive Officer$1.7M1970
Daniel David MalzahnSenior Vice President, Chief Financial Officer & Treasurer$939,7611970
Matthew KelpyVice President, Chief Accounting Officer & Controller$513,8691973
James SackGeneral Counsel & Secretary——

Executive pay, latest proxy

ExecutiveYearSalaryStock awardsIncentiveTotal
Paul C. Saville Executive Chairman of the Board2025$2.5M$0$494,875$3.0M
Eugene J. Bredow President and Chief Executive Officer2025$1.4M$0$287,427$1.7M
Daniel D. Malzahn Senior Vice President, Chief Financial Officer and Treasurer2025$763,750$0$152,711$939,761
Matthew B. Kelpy Vice President and Chief Accounting Officer2025$408,825$0$81,744$513,869

Employees

6k20186k20196k20207k20217k20226k20237k20246k2025

Dividends

Ex-dateAmountPaid
1990-02-23$0.167—
1989-10-26$0.23—
1989-07-26$0.222—
1989-04-19$0.202—
1989-02-16$0.192—
1988-11-08$0.13—
1988-07-26$0.125—
1988-03-25$0.08—

Moat model

Weak · Efficient Scale · 2026-06-30
Cost advantage93
Intangibles39
Switching costs18
Network effect35
Efficient scale95
Our component scores (0-100) and overall 52.4; a model of the business, not a call on the stock.
InsiderStreet reports findings from filings and market data. Nothing on this page is a recommendation to buy or sell.Every figure is computed in code · data as of 2026-10-17

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