NYSE : NVR
NVR, Inc. — Financial statements
Consumer Discretionary · Residential Construction · United States
Last price 5958.56 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 15.76B
Overview · Financial statements · Key statistics · Dividends · Company profile · Price history · Reports
Financial statements
NVR, Inc. (NVR) reported revenue of 9.41B USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Operating Revenue | 9.10B | 10.09B | 10.29B | 9.31B | 10.33B | 8.70B |
| Other Revenue | 314.73M | 343.84M | 395.04M | 368.29M | 248.56M | 264.62M |
| Revenue | 9.41B | 10.44B | 10.69B | 9.68B | 10.58B | 8.97B |
| Cost of Revenue | 7.33B | 7.95B | 7.85B | 7.05B | 7.66B | 6.76B |
| Gross Profit | 1.99B | 2.39B | 2.74B | 2.54B | 2.82B | 2.12B |
| Selling, General & Admin | 585.35M | 599.67M | 598.21M | 588.96M | 532.35M | 474.81M |
| Operating Expenses | 585.35M | 599.67M | 598.21M | 588.96M | 532.35M | 474.81M |
| Operating Income | 1.40B | 1.79B | 2.14B | 1.96B | 2.29B | 1.64B |
| Interest Expense | -27.10M | -27.58M | -26.99M | -26.88M | -38.14M | -51.53M |
| EBT Excluding Unusual Items | 1.37B | 1.76B | 2.12B | 1.93B | 2.25B | 1.59B |
| Pretax Income | 1.37B | 1.76B | 2.12B | 1.93B | 2.25B | 1.59B |
| Income Tax Expense | 326.51M | 422.12M | 433.58M | 336.76M | 527.62M | 353.68M |
| Net Income | 1.05B | 1.34B | 1.68B | 1.59B | 1.73B | 1.24B |
| Net Income to Common | 1.05B | 1.34B | 1.68B | 1.59B | 1.73B | 1.24B |
| Shares Outstanding (Basic) | 2.74M | 2.90M | 3.11M | 3.24M | 3.29M | 3.58M |
| Shares Outstanding (Diluted) | 2.88M | 3.07M | 3.32M | 3.44M | 3.51M | 3.86M |
| EPS (Basic) | 381.96 | 462.00 | 540.88 | 491.52 | 525.20 | 345.38 |
| EPS (Diluted) | 363.80 | 436.55 | 506.69 | 463.31 | 491.82 | 320.48 |
| Free Cash Flow | 1.10B | 1.35B | 1.47B | 1.85B | 1.22B | |
| Free Cash Flow Per Share | 357.37 | 405.26 | 428.82 | 527.76 | 317.32 | |
| Gross Margin | 21.10% | 22.89% | 25.64% | 26.27% | 26.70% | 23.61% |
| Operating Margin | 14.88% | 17.14% | 20.05% | 20.19% | 21.67% | 18.31% |
| Profit Margin | 11.12% | 12.84% | 15.74% | 16.44% | 16.32% | 13.79% |
| Free Cash Flow Margin | 10.51% | 12.59% | 15.21% | 17.51% | 13.66% | |
| EBITDA | 1.43B | 1.81B | 2.16B | 1.97B | 2.31B | 1.66B |
| EBITDA Margin | 15.16% | 17.38% | 20.22% | 20.37% | 21.83% | 18.53% |
| D&A For EBITDA | 26.24M | 24.51M | 18.38M | 16.92M | 17.40M | 19.46M |
| EBIT | 1.40B | 1.79B | 2.14B | 1.96B | 2.29B | 1.64B |
| EBIT Margin | 14.88% | 17.14% | 20.05% | 20.19% | 21.67% | 18.31% |
| Effective Tax Rate | 23.77% | 23.96% | 20.50% | 17.46% | 23.42% | 22.24% |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 1.09B | 1.88B | 2.56B | 3.13B | 2.50B | 2.55B |
| Cash & Short-Term Investments | 1.09B | 1.88B | 2.56B | 3.13B | 2.50B | 2.55B |
| Receivables | 54.56M | 49.04M | 54.32M | 46.90M | 36.14M | 43.75M |
| Inventory | 2.37B | 1.72B | 2.06B | 1.95B | 1.79B | 1.95B |
| Finance Div. Loans and Leases | 346.87M | 571.60M | 355.21M | 222.56M | 316.81M | 302.19M |
| Finance Div. Other Current Assets | 40.67M | 76.08M | 76.05M | 108.47M | 33.69M | 45.08M |
| Restricted Cash | 37.55M | 34.35M | 42.17M | 41.48M | 48.45M | 61.00M |
| Total Current Assets | 3.94B | 4.34B | 5.15B | 5.50B | 4.73B | 4.94B |
| Property, Plant & Equipment | 230.56M | 214.31M | 173.96M | 134.10M | 129.03M | 115.99M |
| Long-Term Investments | 112.20M | 29.30M | 29.20M | 27.20M | 20.30M | |
| Goodwill | 41.58M | 41.58M | 41.58M | |||
| Long-Term Deferred Tax Assets | 143.67M | 142.19M | 148.00M | 143.59M | 132.89M | |
| Other Long-Term Assets | 1.28B | 928.60M | 826.24M | 624.20M | 529.48M | 547.50M |
| Total Assets | 5.57B | 5.86B | 6.38B | 6.60B | 5.66B | 5.83B |
| Accounts Payable | 365.21M | 259.24M | 332.77M | 347.74M | 334.02M | 336.56M |
| Accrued Expenses | 306.01M | 325.90M | 391.24M | 387.79M | 427.05M | 422.01M |
| Current Portion of Leases | 51.06M | |||||
| Finance Div. Other Current Liabilities | 106.69M | 53.74M | 53.43M | 127.51M | 39.60M | 29.99M |
| Other Current Liabilities | 8.60M | 10.03M | 10.29M | 10.19M | 13.85M | |
| Total Current Liabilities | 777.91M | 698.54M | 787.47M | 873.33M | 810.85M | 802.41M |
| Long-Term Debt | 907.66M | 909.16M | 911.12M | 913.03M | 914.89M | 1.52B |
| Finance Div. Other Long-Term Liabilities | 21.80M | 21.40M | ||||
| Long-Term Leases | 160.02M | 135.15M | 149.40M | 116.24M | 92.79M | 74.56M |
| Long-Term Unearned Revenue | 285.36M | 249.21M | 322.93M | 334.44M | 313.80M | 417.46M |
| Total Liabilities | 2.13B | 1.99B | 2.17B | 2.24B | 2.15B | 2.83B |
| Common Stock | 206.00K | 206.00K | 206.00K | 206.00K | 206.00K | 206.00K |
| Additional Paid-In Capital | 3.26B | 3.16B | 3.03B | 2.85B | 2.60B | 2.38B |
| Retained Earnings | 17.07B | 16.39B | 15.05B | 13.37B | 11.77B | 10.05B |
| Treasury Stock | -16.89B | -15.68B | -13.87B | -11.85B | -10.87B | -9.42B |
| Shareholders' Equity | 3.43B | 3.86B | 4.21B | 4.36B | 3.51B | 3.00B |
| Total Liabilities & Equity | 5.57B | 5.86B | 6.38B | 6.60B | 5.66B | 5.83B |
| Total Debt | 1.07B | 1.10B | 1.06B | 1.03B | 1.01B | 1.59B |
| Net Cash (Debt) | 23.63M | 788.48M | 1.50B | 2.10B | 1.50B | 954.25M |
| Net Cash Per Share | 8.21 | 256.91 | 452.13 | 610.49 | 426.32 | 247.28 |
| Filing Date Shares Outstanding | 2.64M | 2.79M | 2.99M | 3.19M | 3.25M | 3.38M |
| Total Common Shares Outstanding | 2.64M | 2.80M | 3.01M | 3.19M | 3.22M | 3.45M |
| Working Capital | 3.17B | 3.64B | 4.36B | 4.62B | 3.92B | 4.14B |
| Book Value Per Share | 1,299.03 | 1,380.61 | 1,397.93 | 1,366.16 | 1,089.44 | 870.90 |
| Tangible Book Value | 3.43B | 3.86B | 4.21B | 4.32B | 3.46B | 2.95B |
| Tangible Book Value Per Share | 1,299.03 | 1,380.61 | 1,397.93 | 1,350.85 | 1,074.24 | 856.71 |
| Machinery | 30.72M | 33.84M | 35.42M | 35.15M | 32.38M | |
| Order Backlog | 4.01B | 4.79B |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 1.34B | 1.68B | 1.59B | 1.73B | 1.24B | |
| Depreciation & Amortization | 24.51M | 18.38M | 16.92M | 17.40M | 19.46M | |
| Loss (Gain) From Sale of Assets | -187.13M | -189.47M | -163.32M | -152.67M | -205.58M | |
| Loss (Gain) on Equity Investments | 1.50M | 2.00M | 9.00M | 9.50M | ||
| Stock-Based Compensation | 69.21M | 73.92M | 99.51M | 82.54M | 58.23M | |
| Other Operating Activities | 64.90M | 2.44M | -28.83M | 43.64M | -53.74M | |
| Change in Accounts Receivable | -57.37M | 62.66M | -59.65M | -27.38M | 1.96M | |
| Change in Inventory | 335.15M | -108.56M | -161.88M | 159.09M | -238.28M | |
| Change in Accounts Payable | -142.27M | -83.22M | 49.10M | -13.78M | -19.95M | |
| Change in Unearned Revenue | -73.72M | -11.52M | 20.64M | -103.66M | 176.71M | |
| Change in Other Net Operating Assets | -200.66M | -157.29M | -77.56M | -26.41M | -87.37M | |
| Operating Cash Flow | 1.12B | 1.37B | 1.50B | 1.87B | 1.24B | |
| Capital Expenditures | -24.51M | -29.21M | -24.88M | -18.43M | -17.88M | |
| Sale of Property, Plant & Equipment | 914.00K | 3.04M | 2.37M | 732.00K | 978.00K | |
| Investment in Securities | -47.61M | -385.00K | -1.60M | -9.73M | -1.28M | |
| Investing Cash Flow | -71.21M | -26.55M | -24.10M | -27.43M | -18.18M | |
| Long-Term Debt Repaid | -4.73M | -2.63M | -1.66M | -601.50M | -1.36M | |
| Net Debt Issued (Repaid) | -4.73M | -2.63M | -1.66M | -601.50M | -1.36M | |
| Issuance of Common Stock | 80.15M | 161.62M | 250.51M | 196.72M | 142.37M | |
| Repurchase of Common Stock | -1.83B | -2.06B | -1.08B | -1.50B | -1.54B | |
| Financing Cash Flow | -1.76B | -1.90B | -832.97M | -1.91B | -1.40B | |
| Net Cash Flow | -707.79M | -550.78M | 640.93M | -62.47M | -172.80M | |
| Free Cash Flow | 1.10B | 1.35B | 1.47B | 1.85B | 1.22B | |
| Free Cash Flow Margin | 10.51% | 12.59% | 15.21% | 17.51% | 13.66% | |
| Free Cash Flow Per Share | 357.37 | 405.26 | 428.82 | 527.76 | 317.32 | |
| Levered Free Cash Flow | 1.16B | 1.08B | 1.21B | 1.67B | 939.56M | |
| Unlevered Free Cash Flow | 1.18B | 1.10B | 1.23B | 1.70B | 971.76M | |
| Cash Interest Paid | 29.89M | 29.20M | 29.20M | 47.50M | 53.68M | |
| Cash Income Tax Paid | 438.77M | 409.85M | 407.19M | 529.82M | 389.38M | |
| Change in Working Capital | -138.86M | -297.91M | -229.35M | -12.14M | -166.95M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 15.76B | 20.71B | 24.86B | 22.30B | 14.74B | 20.56B |
| Enterprise Value | 15.73B | 19.85B | 23.44B | 20.45B | 14.01B | 19.48B |
| Last Close Price | 5,958.56 | 7,292.77 | 8,178.90 | 7,000.45 | 4,612.58 | 5,908.87 |
| PE Ratio | 16.38 | 15.46 | 14.78 | 14.01 | 8.54 | 16.62 |
| Forward PE | 17.17 | 17.81 | 16.07 | 16.37 | 13.67 | 15.37 |
| PS Ratio | 1.67 | 1.98 | 2.33 | 2.30 | 1.39 | 2.29 |
| PB Ratio | 4.59 | 5.36 | 5.91 | 5.11 | 4.20 | 6.85 |
| P/TBV Ratio | 4.59 | 5.36 | 5.91 | 5.17 | 4.26 | 6.96 |
| P/FCF Ratio | 15.06 | 18.88 | 18.48 | 15.13 | 7.96 | 16.79 |
| P/OCF Ratio | 14.77 | 18.47 | 18.09 | 14.88 | 7.88 | 16.55 |
| PEG Ratio | 10.15 | 1.70 | 3.67 | 10.57 | 0.70 | |
| EV/Sales Ratio | 1.67 | 1.90 | 2.19 | 2.11 | 1.32 | 2.17 |
| EV/EBITDA Ratio | 11.02 | 10.94 | 10.85 | 10.37 | 6.07 | 11.73 |
| EV/EBIT Ratio | 11.23 | 11.09 | 10.94 | 10.46 | 6.12 | 11.87 |
| EV/FCF Ratio | 15.03 | 18.09 | 17.42 | 13.88 | 7.57 | 15.91 |
| Debt / Equity Ratio | 0.31 | 0.28 | 0.25 | 0.24 | 0.29 | 0.53 |
| Debt / EBITDA Ratio | 0.71 | 0.58 | 0.47 | 0.50 | 0.43 | 0.93 |
| Debt / FCF Ratio | 1.00 | 0.79 | 0.70 | 0.54 | 1.30 | |
| Net Debt / Equity Ratio | -0.01 | -0.20 | -0.36 | -0.48 | -0.43 | -0.32 |
| Net Debt / EBITDA Ratio | -0.02 | -0.43 | -0.69 | -1.06 | -0.65 | -0.57 |
| Net Debt / FCF Ratio | -0.72 | -1.12 | -1.42 | -0.81 | -0.78 | |
| Asset Turnover | 1.62 | 1.71 | 1.65 | 1.58 | 1.84 | 1.54 |
| Inventory Turnover | 3.26 | 4.21 | 3.92 | 3.77 | 4.10 | 3.70 |
| Quick Ratio | 1.52 | 2.81 | 3.38 | 3.67 | 3.16 | 3.26 |
| Current Ratio | 5.07 | 6.21 | 6.54 | 6.29 | 5.83 | 6.16 |
| Return on Equity (ROE) | 28.30% | 33.18% | 39.23% | 40.44% | 53.02% | 40.51% |
| Return on Assets (ROA) | 15.09% | 18.28% | 20.63% | 19.93% | 24.92% | 17.68% |
| Return on Invested Capital (ROIC) | 31.41% | 47.04% | 68.45% | 75.44% | 86.46% | 63.42% |
| Return on Capital Employed (ROCE) | 29.30% | 34.70% | 38.30% | 34.10% | 47.20% | 32.60% |
| Earnings Yield | 6.11% | 6.47% | 6.77% | 7.14% | 11.71% | 6.02% |
| FCF Yield | 6.64% | 5.30% | 5.41% | 6.61% | 12.56% | 5.96% |
| Buyback Yield / Dilution | 8.32% | 7.54% | 3.37% | 2.09% | 9.08% | 1.47% |