A Business at a Glance
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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.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 10.3B | 10.3B | 10.5B | 9.5B | 10.5B | 9.0B |
| Net Income | 1.3B | 1.3B | 1.7B | 1.6B | 1.7B | 1.2B |
| EPS | $436.55 | $436.55 | $506.69 | $463.31 | $491.82 | $320.48 |
| Free Cash Flow | 1.1B | 1.1B | 1.3B | 1.5B | 1.9B | 1.2B |
| ROIC | 47.1% | 49.9% | 66.5% | 75.0% | 86.6% | 57.9% |
| Gross Margin | 23.0% | 23.0% | 25.4% | 25.9% | 27.2% | 24.4% |
| Debt/Equity | 0.24 | 0.24 | 0.22 | 0.21 | 0.26 | 0.51 |
| Dividends/Share | $0.00 | - | - | - | - | - |
| Operating Income | 1.8B | 1.8B | 2.1B | 2.0B | 2.2B | 1.5B |
| Operating Margin | 17.3% | 17.3% | 20.4% | 20.6% | 20.6% | 16.4% |
| ROE | 34.7% | 33.2% | 40.0% | 36.5% | 49.2% | 41.2% |
| Shares Outstanding | 3M | 3M | 3M | 3M | 4M | 4M |
NVR INC passes 7 of 9 quality checks, indicating strong fundamentals.
NVR INC trades at 15.5x 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 17.3x vs a median of 18.2x. The company's 5-year average ROIC is 67.2% with a gross margin of 25.2%. Total shareholder yield (buybacks) is 8.8%. At current prices, the estimated annualized return to fair value is +18.2%.
NVR INC (NVR) has a current P/E ratio of 15.5, 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 67.2%. This indicates strong capital allocation and a potential competitive advantage.
NVR INC (NVR) has a market capitalization of $20.8B. 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 8.81%.
Based on historical P/E analysis, NVR INC (NVR) appears fair. The current P/E of 15.5 is 6% below its historical median of 16.6. The estimated fair value CAGR (P/E method) is 17.8%.
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 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 0.24. This indicates a conservatively financed balance sheet.
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.
NVR INC (NVR) has a 5-year average gross margin of 25.2%. This lower margin is typical of capital-intensive or commodity businesses.
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.
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