A Business at a Glance
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NVR INC
NVR
$19.7B
Mkt Cap
$6,414.67
+4.22%
NVR INC (NVR) has a current P/E ratio of 14.7, compared to its historical median P/E of 16.6. The stock is currently considered Fair based on its historical valuation range.
NVR INC (NVR) has a 5-year average return on invested capital (ROIC) of 141.8%. This indicates strong capital allocation and a potential competitive advantage.
NVR INC (NVR) has a market capitalization of $18.8B. It is classified as a large-cap stock.
NVR INC (NVR) does not currently pay a regular dividend. However, the company returns capital to shareholders through share buybacks, with a buyback yield of 10.02%.
Based on historical P/E analysis, NVR INC (NVR) appears fair. The current P/E of 14.7 is 11% below its historical median of 16.6. The estimated fair value CAGR (P/E method) is 16.7%.
NVR INC (NVR) operates in the Operative Builders industry, within the Industrials sector.
NVR INC (NVR) reported annual revenue of $10.3 billion in its most recent fiscal year, based on SEC EDGAR filings.
NVR is one of the largest homebuilders in the United States, constructing and selling single-family detached homes, townhomes, and condominium buildings primarily on a pre-sold basis across thirty-seven metropolitan areas in sixteen states and Washington, D.C. under three trade names—Ryan Homes (targeting first-time and first-time move-up buyers), NVHomes, and Heartland Homes (targeting move-up and luxury buyers)—with home prices ranging from approximately $170,000 to $2.3 million. The company employs a capital-efficient lot acquisition strategy, acquiring finished building lots from third-party land developers through fixed-price lot purchase agreements with forfeitable deposits typically up to 10% of aggregate purchase price, thereby avoiding the financial requirements and risks of direct land ownership and development. NVR operates four reportable homebuilding segments across the Mid Atlantic, North East, Mid East, and South East regions, competing primarily on price, location, design, quality, service, and reputation while maintaining leading market positions in each market served. The company also operates a mortgage banking business through its wholly owned subsidiary NVR Mortgage Finance, Inc., which originates mortgage loans exclusively for NVR homebuyers, generating revenues from origination fees, gains on loan sales, and title fees, with loans sold to secondary markets primarily on a servicing-released basis.
【Market positioning and operational efficiency】 Management emphasizes NVR's strategy of maintaining leading market positions in each served market to gain competitive advantages and efficiencies that help minimize adverse effects of regional economic cycles. The company continues to focus on controlling an adequate supply of finished lots through its conservative lot acquisition strategy using fixed-price lot purchase agreements, which the company expects to continue as substantially all of its finished lot inventory source. NVR's mortgage banking operations remain dependent on homebuilding segment performance, with the company maintaining approved seller/servicer status with Fannie Mae, Freddie Mac, Ginnie Mae, VA, and FHA programs. The company is committed to developing an inclusive culture and promoting employees from within, with compensation philosophy designed to motivate and retain highly qualified and experienced employees.
No forward guidance provided.
Generated solely from the company's own reports listed below — not from third-party data. Hallucination risk is low. · Sources: 10-K
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 9.8B | 10.3B | 10.5B | 9.5B | 10.5B | 9.0B |
| Net Income | 1.2B | 1.3B | 1.7B | 1.6B | 1.7B | 1.2B |
| EPS | $415.51 | $436.55 | $506.69 | $463.31 | $491.82 | $320.48 |
| Free Cash Flow | 1.2B | 1.1B | 1.3B | 1.5B | 1.9B | 1.2B |
| ROIC | 0.0% | 77.7% | 126.5% | 155.1% | 188.3% | 161.5% |
| Gross Margin | - | - | - | - | - | - |
| Debt/Equity | 0.00 | 0.52 | 0.52 | 0.51 | 0.00 | 0.00 |
| Dividends/Share | $0.00 | - | - | - | - | - |
| Operating Income | 0 | 1.8B | 2.1B | 2.0B | 2.3B | 1.6B |
| Operating Margin | 0.0% | 17.1% | 20.4% | 20.6% | 21.8% | 18.4% |
| ROE | 35.4% | 33.2% | 39.2% | 40.4% | 53.0% | 40.5% |
| Shares Outstanding | 3M | 3M | 3M | 3M | 4M | 4M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 4.4B | 5.2B | 5.8B | 6.3B | 7.2B | 7.4B | 7.5B | 9.0B | 10.5B | 9.5B | 10.5B | 10.3B | 9.8B |
| Gross Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| R&D | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| EBIT | 477M | 627M | 683M | 871M | 985M | 1.1B | 1.1B | 1.6B | 2.3B | 2.0B | 2.1B | 1.8B | 0 |
| Op. Margin | 10.7% | 12.1% | 11.7% | 13.8% | 13.7% | 14.2% | 14.8% | 18.4% | 21.8% | 20.6% | 20.4% | 17.1% | 0.0% |
| Net Income | 282M | 383M | 425M | 538M | 797M | 879M | 901M | 1.2B | 1.7B | 1.6B | 1.7B | 1.3B | 1.2B |
| Net Margin | 6.3% | 7.4% | 7.3% | 8.5% | 11.1% | 11.9% | 12.0% | 13.8% | 16.4% | 16.7% | 16.0% | 13.0% | 12.6% |
| Non-Recurring | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Returns on Capital | |||||||||||||
| ROIC | 36.5% | 57.2% | 52.4% | 61.3% | 82.1% | 79.8% | 78.0% | 161.5% | 188.3% | 155.1% | 126.5% | 77.7% | 0.0% |
| ROE | 23.6% | 32.4% | 33.4% | 36.9% | 46.7% | 42.3% | 33.1% | 40.5% | 53.0% | 40.4% | 39.2% | 33.2% | 35.4% |
| ROA | 11.6% | 15.7% | 16.5% | 19.1% | 25.9% | 25.2% | 18.8% | 21.3% | 30.0% | 26.0% | 25.9% | 21.9% | 22.2% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 185M | 227M | 393M | 570M | 723M | 867M | 925M | 1.2B | 1.9B | 1.5B | 1.4B | 1.1B | 1.3B |
| Free Cash Flow | 153M | 208M | 371M | 550M | 703M | 844M | 909M | 1.2B | 1.9B | 1.5B | 1.3B | 1.1B | 1.2B |
| Owner Earnings | 104M | 151M | 327M | 503M | 627M | 767M | 852M | 1.2B | 1.8B | 1.4B | 1.3B | 1.0B | 1.2B |
| CapEx | 32M | 18M | 22M | 20M | 20M | 23M | 16M | 18M | 18M | 25M | 29M | 25M | 22M |
| Maint. CapEx | 18M | 22M | 22M | 23M | 20M | 21M | 22M | 19M | 17M | 17M | 18M | 25M | 25M |
| Growth CapEx | 14M | 0 | 100K | 0 | 0 | 1.9M | 0 | 0 | 1.0M | 8.0M | 11M | 0 | 0 |
| D&A | 18M | 22M | 22M | 23M | 20M | 21M | 22M | 19M | 17M | 17M | 18M | 25M | 25M |
| CapEx/OCF | 17.2% | 8.1% | 5.7% | 3.6% | 2.7% | 2.6% | 1.7% | 1.4% | 1.0% | 1.7% | 2.1% | 2.2% | 1.8% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividend Yield | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | 568M | 431M | 455M | 422M | 846M | 698M | 371M | 1.5B | 1.5B | 1.1B | 2.1B | 1.8B | 1.9B |
| Buyback Yield | 10.3% | 6.1% | 6.6% | 2.8% | 8.5% | 4.6% | 2.3% | 6.8% | 9.4% | 4.5% | 7.6% | 8.1% | 10.0% |
| Stock-Based Comp | 63M | 54M | 44M | 45M | 76M | 79M | 51M | 58M | 83M | 100M | 74M | 69M | 64M |
| Debt Repayment | 115K | 0 | 0 | 0 | 0 | 0 | 5.1M | 0 | 0 | 0 | 0 | 0 | 0 |
| Balance Sheet | |||||||||||||
| Net Debt | -520M | N/A | N/A | N/A | -732M | -1.2B | -1.9B | -2.6B | -2.6B | N/A | N/A | N/A | -1.7B |
| Cash & Equiv. | 545M | 451M | 416M | 690M | 732M | 1.2B | 2.8B | 2.6B | 2.6B | 3.2B | 2.7B | 2.0B | 1.7B |
| Long-Term Debt | N/A | N/A | N/A | N/A | 0 | 0 | 924M | 0 | 0 | N/A | N/A | N/A | N/A |
| Debt/Equity | 0.02 | 1.03 | 1.03 | 0.86 | 0.00 | 0.00 | 0.30 | 0.00 | 0.00 | 0.51 | 0.52 | 0.52 | 0.00 |
| Interest Coverage | 20.6 | 26.6 | 31.5 | 36.0 | 39.3 | 41.4 | 27.4 | 30.9 | 58.0 | 70.5 | 77.1 | 945.2 | 945.2 |
| Equity | 1.1B | 1.2B | 1.3B | 1.6B | 1.8B | 2.3B | 3.1B | 3.0B | 3.5B | 4.4B | 4.2B | 3.9B | 3.5B |
| Total Assets | 2.4B | 2.5B | 2.6B | 3.0B | 3.2B | 3.8B | 5.8B | 5.8B | 5.7B | 6.6B | 6.4B | 5.9B | 5.6B |
| Total Liabilities | 1.2B | 1.3B | 1.3B | 1.4B | 1.4B | 1.5B | 2.7B | 2.8B | 2.2B | 2.2B | 2.2B | 2.0B | 2.1B |
| Intangibles | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Retained Earnings | 4.9B | 5.3B | 5.7B | 6.2B | 7.0B | 7.9B | 8.8B | 10.0B | 11.8B | 13.4B | 15.0B | 16.4B | 16.6B |
| Working Capital | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Current Assets | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Current Liabilities | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Per Share Data | |||||||||||||
| EPS | 63.50 | 89.99 | 103.61 | 126.77 | 194.80 | 221.13 | 230.11 | 320.48 | 491.82 | 463.31 | 506.69 | 436.55 | 415.51 |
| Owner EPS | 23.38 | 35.50 | 79.70 | 118.66 | 153.27 | 193.10 | 217.66 | 301.82 | 504.53 | 402.17 | 386.26 | 334.82 | 397.52 |
| Book Value | 253.49 | 291.21 | 317.81 | 378.64 | 441.93 | 589.30 | 792.29 | 778.03 | 999.52 | 1,270.55 | 1,268.31 | 1,259.28 | 1,193.49 |
| Cash Flow/Share | 41.61 | 53.28 | 95.75 | 134.51 | 176.70 | 218.11 | 236.24 | 321.95 | 533.01 | 436.06 | 414.06 | 365.36 | 431.78 |
| Dividends/Share | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.00 |
| Shares Out. | 4.4M | 4.3M | 4.1M | 4.2M | 4.1M | 4.0M | 3.9M | 3.9M | 3.5M | 3.4M | 3.3M | 3.1M | 2.9M |
| Valuation | |||||||||||||
| P/E Ratio | 19.5 | 18.3 | 16.2 | 27.8 | 12.4 | 17.3 | 18.1 | 18.3 | 9.3 | 15.1 | 16.2 | 16.9 | 15.4 |
| P/FCF | 36.0 | 33.7 | 18.6 | 27.2 | 14.1 | 18.0 | 17.9 | 18.5 | 8.6 | 16.3 | 20.3 | 20.7 | 15.3 |
| EV/EBIT | N/A | N/A | N/A | 17.7 | 11.0 | 14.2 | 15.4 | 14.7 | 6.6 | 11.1 | 11.9 | 12.1 | N/A |
| Price/Book | 4.9 | 5.7 | 5.3 | 9.3 | 5.5 | 6.5 | 5.2 | 7.5 | 4.6 | 5.5 | 6.5 | 5.9 | 5.4 |
| Price/Sales | 1.1 | 1.2 | 1.2 | 1.7 | 1.6 | 1.8 | 1.9 | 2.1 | 1.5 | 2.1 | 2.6 | 2.2 | 1.9 |
| FCF Yield | 2.8% | 3.0% | 5.4% | 3.7% | 7.1% | 5.6% | 5.6% | 5.4% | 11.6% | 6.1% | 4.9% | 4.8% | 6.6% |
| Market Cap | 5.5B | 7.0B | 6.9B | 14.9B | 9.9B | 15.2B | 16.3B | 22.7B | 16.0B | 24.0B | 27.2B | 22.7B | 18.8B |
| Avg. Price | 1,147.69 | 1,444.56 | 1,657.28 | 2,509.25 | 2,846.33 | 3,262.27 | 3,666.25 | 4,906.67 | 4,521.93 | 5,823.32 | 8,235.42 | 7,559.67 | 6,414.67 |
| Year-End Price | 1,240.00 | 1,649.92 | 1,679.00 | 3,525.73 | 2,419.59 | 3,816.37 | 4,156.60 | 5,869.47 | 4,564.07 | 6,981.71 | 8,208.39 | 7,382.16 | 6,414.67 |
NVR INC passes 7 of 9 quality checks, indicating strong fundamentals.
NVR INC trades at 14.7x trailing earnings, compared to its 15-year median P/E of 16.6x, suggesting it is currently Fair relative to its historical range. On a free-cash-flow basis, the stock trades at 16.3x vs a median of 18.2x. The company's 5-year average ROIC is 141.8%. Total shareholder yield (buybacks) is 10.0%. At current prices, the estimated annualized return to fair value is +16.8%.
NVR INC (NVR) has a net profit margin of 13.0%. This is a healthy margin.
NVR INC (NVR) generated $1.1 billion in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
NVR INC (NVR) has a debt-to-equity ratio of 0.52. This indicates moderate leverage.
NVR INC (NVR) reported earnings per share (EPS) of $436.55 in its most recent fiscal year.
NVR INC (NVR) has a return on equity (ROE) of 33.2%. This indicates the company generates strong returns for shareholders.
The Ledger Terminal provides 17 years of financial data for NVR INC (NVR), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
NVR INC (NVR) has a book value per share of $1259.28, based on its most recent annual SEC filing.
Based on recent SEC filings and earnings disclosures, Management emphasizes NVR's strategy of maintaining leading market positions in each served market to gain competitive advantages and efficiencies that help minimize adverse effects of regional economic cycles. The company continues to focus on controlling an adequate supply of finished lots through its conservative lot acquisition strategy using fixed-price lot purchase agreements, which the company expects to continue as substantially all of its finished lot inventory source. NVR's mortgage banking operations remain dependent on homebuilding segment performance, with the company maintaining approved seller/servicer status with Fannie Mae, Freddie Mac, Ginnie Mae, VA, and FHA programs. The company is committed to developing an inclusive culture and promoting employees from within, with compensation philosophy designed to motivate and retain highly qualified and experienced employees.
No recent press releases.