undamentalytics Newsletter
Sign in

NVR, Inc. (NVR) stock

Add to watchlist

Add holding +

NYSE: NVR NYSE Homebuilding Next results ~January 27, 2027

B Fundamentals grade

NVR, Inc. is a US-listed company in the homebuilding industry. Its financial year ends in December.

Stock price today

Loading chart…

Third-party market data · may be delayed

Fair value per share

~$6600

Cash-flow model

Base case. Range ~$5100–$8700 across our lower- and higher-growth cases (-3%–7% a year).

Price vs value

Modestly undervalued

The price is inside our value range, 5% below our base value.

Price used: $6265.10, November 2, 2026

NVR, Inc. valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

Value diary

Our note on each quarter NVR files

Where NVR stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $9.53bn, down 9.9% on a year earlier, slower than -7.5% a quarter earlier. That puts it 918 of 931 for growth among all the companies we cover. Free-cash-flow margin held at 11.0%. The diluted share count is down 7.9% on a year earlier, which lifts each remaining share. Against its peers on growth, profitability, cash generation and balance sheet, it grades C. Our cash-flow model value is $6,811 a share, against a share price of $5,956. At that price, our model says the market is pricing in cash flow shrinking about 0.4% a year for five years, close to the 1.3% a year revenue growth it has delivered.

Source: 10-Q filed August 5, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~January 27, 2027 (estimated)

NVR, Inc.'s trailing-twelve-month revenue fell 9.9% year on year, with a free-cash-flow margin of 11.0%. Where it stands out: free-cash-flow margin of 11.0% ranks 2 of 17 homebuilding companies we cover. Where it lags: revenue growth of -9.9% ranks 14 of 17 homebuilding companies we cover.

Our discounted-cash-flow model values the business at ~$6600 per share in the base case (~$5100–$8700 across growth scenarios) — model values under stated assumptions, not a price target.

Current signal Revenue growth decelerating: TTM revenue growth slowed to -9.9% (-2.5pp vs the prior quarter), the 6th consecutive quarterly slowdown.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Shrinking share count. Diluted shares fell 7.9% in a year, so each share owns more of the business.
  • Net cash. Cash exceeds long-term debt by $1.2bn.

Things to watch

  • Revenue shrinking. Revenue fell 9.9% over the last 12 months.
  • Growth easing. The growth rate is 2.5 points lower than a quarter earlier.
  • Below peers: stock pay as % of revenue. Stock pay as % of revenue of 0.7% ranks 14 of 17 homebuilding companies we cover (median 0.5%).
  • Below peers: change in growth rate. Change in growth rate of -2.5pp ranks 13 of 17 homebuilding companies we cover (median -0.6pp).
  • Short interest rising. Shares sold short rose 25% in a month to 9.3% of tradable shares.
  • Missing expectations. Earnings per share fell short of the consensus estimate in 3 of the last four quarters.

Latest results: FY2026 Q2

Filed August 5, 2026
Earnings per share
$89.45 against an average estimate of $102.77: missed by 13.0%
Revenue
$2.33bn, down 10.5% on a year earlier
Share reaction
+1.4% in the first session after the results on October 22, 2026, against -1.7% for the S&P 500
Next report
October 22, 2026; average EPS estimate $98.16

NVR's figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day+5.1%
  • 1 week+9.4%
  • 1 month+4.5%
  • This year-14.1%
  • 1 year-13.1%
  • 5 years+24.8%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

Loading chart…

Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$9.5B
Net margin
12.0%
EPS (TTM, diluted)
$387.33

Growth

Revenue growth
−9.9%
Change in growth rate
−2.5 pts
Share count change
−7.9%

Cash

Free cash flow (TTM)
$1B
FCF margin
11.0%
Stock pay % of revenue
0.7%

Earnings

Last results
October 22, 2026
Next results (est.)
January 27, 2027

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Results
  2. Results

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

NVR, Inc. valuation models and calculator

What the price is pricing in

The share price implies cash flow shrinking about 0.2% a year for five years.That is close to the 1.3% a year revenue growth NVR has delivered.

  • Priced in-0.2%
  • Last 12 months-9.9%
  • 3 years a year-1.6%
  • 5 years a year1.3%

Our cash-flow model with every input fixed except growth over the next five years, solved for the growth at which the model value equals the share price ($6265.10, Nov 3, 2026). Cash-flow growth then fades to 2.5% a year; discount rate 8.5%. Delivered figures are revenue growth from SEC filings. This is a model exercise, not investment advice or a forecast of the share price. All companies

Fundamentalytics rating

model v1.6 · 2026-11-03
Hold12-month view
12-month price target
~$6600
Price used
$6265.10close November 3, 2026
Implied change
▲ +6%
Uncertainty
Medium

How we got here: a discounted-cash-flow model of NVR, Inc.'s free cash flow after stock-based pay with after-tax interest added back ($1.1B, FY2026 Q2 TTM), growing -3% and 1% in the next two years (forecasts, guidance and its record), then back to 2% by year five, and fading to 2.5%, discounted at 8.5%. Lower and higher growth cases span ~$5100–~$8700 ; that spread sets a 25% margin before we rate Buy or Sell.

Produced by Fundamentalytics' automated valuation model on November 3, 2026, using delayed market prices. Rating meanings, methodology and conflicts: recommendations disclosure and research disclaimer. General research, not personal advice — it does not consider your circumstances. Prices can fall as well as rise.

Our value per share comes from a discounted-cash-flow model of NVR, Inc.'s free cash flow after stock-based pay ( $1.1B, FY2026 Q2 TTM, with after-tax interest added back): growth for five years as below (the first two years from forecasts, guidance and the company's record), fading to 2.5%, discounted at 8.5%, then cash added and debt and other claims subtracted. These are model values under stated assumptions, not price targets or recommendations.

Valuation models

We value NVR, Inc. as an operating company, with every model that fits that kind of business. Cost of equity 8.1%: the 10-year Treasury yield (4.9%) plus a beta of 0.71 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Cash-flow model (DCF) Free cash flow to the firm (after stock pay, with after-tax interest added back), grown then faded to 2.5%, discounted at 8.5% as the firm rate, less debt and other claims. ~$6600 ~$5100–$8700 Primary model, counts double
Forward price-to-earnings vs peers Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$5600 ~$4600–$7400 Included
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. — Does not apply: return on equity above 40%: buybacks or intangibles make book value too small an anchor
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. ~$9600 ~$8000–$12000 Included
Combined value Weighted average of the models that apply: the primary model (cash-flow model (dcf)) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$7100 ~$5600–$9600 3 models

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare NVR, Inc. with Homebuilding in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

What moves the value

  • Revenue growth 5 points lower ▼ −24%
  • Revenue growth 5 points higher ▲ +31%
  • Free-cash-flow margin 1 point lower ▼ −9%
  • Last year's free-cash-flow margin change, if it persists ▼ −4%
  • Discount rate 1 point higher ▼ −13%
Value per share under different assumptions
Discount rate ↓ / growth → −5% growth0% growth5% growth10% growth15% growth20% growth
7% $6202$8265$11003$14606$19304$25379
8.5% $4847$6342$8314$10895$14244$18556
10% $4028$5186$6704$8678$11229$14500

Valuation multiples over time Market data may be delayed

At fiscal year end 20152016201720182019202020212022202320242025Now
Share price$1643.00$1669.00$3508.22$2436.99$3808.41$4079.86$5908.87$4612.58$7000.45$8178.90$7292.77$6265.10
Market value$7.0bn$6.8bn$14.9bn$10.0bn$15.1bn$16.0bn$22.8bn$16.2bn$24.0bn$27.1bn$22.4bn$18.5bn
+ Net debt (− = net cash)−$451m−$416m−$690m−$732m−$1.2bn−$2.8bn−$2.6bn−$2.6bn−$3.2bn−$2.7bn−$2.0bn−$1.2bn
Enterprise value$6.5bn$6.4bn$14.2bn$9.2bn$14.0bn$13.2bn$20.2bn$13.6bn$20.8bn$24.5bn$20.4bn$17.3bn
Multiples
Price / sales 1.4x1.2x2.4x1.4x2.0x2.1x2.5x1.5x2.5x2.6x2.2x1.9x
Price / earnings 18.3x16.1x27.7x12.5x17.2x17.7x18.4x9.4x15.1x16.1x16.7x16.2x
Price / free cash flow 33.5x18.5x27.0x14.2x17.9x17.6x18.6x8.7x16.3x20.2x20.4x17.6x
EV / EBITDA ————————————

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

86 /100

Strong moat

How hard NVR's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 20 / 20

    Net income has been a median 22.4% of total assets over 10 years.

  • Durability 13 / 20

    Net margin has been a median 12.5%; its worst year was 8.5%.

  • Cash conversion 16 / 20

    Free cash flow was positive in 10 of 10 years, at a median 11.7% of revenue.

  • Discipline 20 / 20

    The diluted share count fell 25.1% over five years; stock-based pay has been a median 0.7% of revenue.

AI disruption exposure: Low. In this industry, the business rests on physical assets, regulated networks or products AI itself depends on.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $337.40 −23% $8.9bn −12%
Next $354.55 +5% $8.7bn −1%

Next year's EPS estimate has moved −13.9% in 90 days, across 7 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is −6.6% on 90 days ago. In the last 30 days, 0 analysts raised NVR, Inc.'s forecast and 3 cut it.

Consensus EPS forecast NVR, Inc., last 90 days
$320.00 $340.00 $360.00 $380.00 $400.00 $420.00 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $361.10 Current fiscal year, 60 days ago: $361.10 Current fiscal year, 30 days ago: $360.04 Current fiscal year, 7 days ago: $358.78 Current fiscal year, Now: $337.40 $337.40 Next fiscal year, 90 days ago: $411.62 Next fiscal year, 60 days ago: $411.62 Next fiscal year, 30 days ago: $400.62 Next fiscal year, 7 days ago: $392.74 Next fiscal year, Now: $354.55 $354.55

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $361.10$411.62
60 days ago $361.10$411.62
30 days ago $360.04$400.62
7 days ago $358.78$392.74
Now $337.40$354.55

Earnings against estimates

Quarter toEstimateActualSurprise
Sept 2026 $102.77 $89.45 −13.0%
Jun 2026 $89.98 $83.96 −6.7%
Mar 2026 $79.20 $67.76 −14.4%
Dec 2025 $105.90 $121.54 +14.8%

Adjusted EPS as companies report it, against the average analyst estimate.

Management guidance

Earnings release, October 22, 2026

No numeric guidance in NVR, Inc.'s latest earnings release (filed October 22, 2026). Some companies give their outlook only on the earnings call.

How our valuation uses these forecasts

Our cash-flow model grows NVR, Inc.'s revenue by -3.0% next year and +1.0% the year after, then fades back toward its own record by year five. Next year's rate weighs analysts' consensus (-5.6%, weight 65%) and the company's own record (+2.0%, weight 35%) . How the weights are set.

Analyst recommendations

7 analysts, Oct 2026
Buy114%
Hold343%
Sell343%

Monthly trend

  1. Oct 202613217
  2. Sep 20262316
  3. Aug 20262316
  4. Jul 20262316

Counts of recommendations published by analysts covering NVR, Inc., by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
9.3%
of tradable shares
Days to cover
3.75
at average volume
Short interest, 1 month
+25%
to October 15, 2026
Held by institutions
93%
of shares
Held by insiders
5.6%
of shares
Employees
6,300
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

What moved the share price

Last 12 months −13.1%

$7210.82 on October 31, 2025 to $6265.10

ThenNowEffect
Revenue (last 12 months) $10.6bn $9.5bn −9.9%
Net margin 14.4% 12.0% −16.6%
P/E multiple 15.2x 16.2x +6.5%
Share count 3m 3m +8.6%

Biggest factor: net margin.

Last 3 years +6.4%

$5890.63 on November 3, 2023 to $6265.10

ThenNowEffect
Revenue (last 12 months) $10.0bn $9.5bn −4.8%
Net margin 16.1% 12.0% −25.8%
P/E multiple 12.6x 16.2x +28.6%
Share count 3m 3m +17.0%

Biggest factor: net margin.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
NVR+45%−22%+52%+17%−11%−14%
Industry peers (median)+54%−29%+95%−3%−12%+4%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
NVR75%33%58%67%33%36%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
NVR−12%−38%−17%−18%−20%−31%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since November 2, 2015: 46% from February 20, 2020 to March 23, 2020. Getting back needed a 86% gain, reached on August 13, 2020, 143 days after the low.

Price behaviour

52-week range
$5563.62 – $8097.25
From 52-week high
−22.6%
vs 50-day average
+2.5%
vs 200-day average
−4.1%
Volatility (1 year)
29%
Beta vs S&P 500
0.47

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
3 up, 9 down
typical move ±1.8%
After a week
4 up, 8 down
typical move ±4.2%
After a month
5 up, 6 down
typical move ±5.3%
Results releasedNext dayS&P 500 next day5 days21 days
October 22, 2026 +1.4% −1.7% +2.0% —
July 23, 2026 +1.0% −1.1% −1.0% +0.1%
April 22, 2026 −3.8% +0.6% −10.5% −12.8%
January 28, 2026 +1.7% −0.2% +7.0% +0.2%
October 22, 2025 −1.4% +0.1% −5.9% −8.1%
July 23, 2025 −1.5% +0.9% −3.5% +0.6%
April 22, 2025 −0.7% +4.2% −0.3% −0.8%
January 28, 2025 −5.0% +0.4% −7.1% −14.3%
October 22, 2024 −2.5% −1.0% −5.3% −6.8%
July 23, 2024 −2.7% −2.4% +0.2% +3.2%
April 23, 2024 −0.1% +1.1% −4.7% −4.5%
January 30, 2024 −0.4% −1.7% +3.2% +7.3%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

NVR, Inc. in five measures

Fundamentals grade B
Growth Profitability Cash Balance sheet Value

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) NVR, Inc.
$9.5B $10B $10.5B $11B FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue (TTM), FY23 Q3: $9.8B Revenue (TTM), FY23 Q4: $9.5B Revenue (TTM), FY24 Q1: $9.7B Revenue (TTM), FY24 Q2: $9.9B Revenue (TTM), FY24 Q3: $10.1B Revenue (TTM), FY24 Q4: $10.5B Revenue (TTM), FY25 Q1: $10.6B Revenue (TTM), FY25 Q2: $10.6B Revenue (TTM), FY25 Q3: $10.5B Revenue (TTM), FY25 Q4: $10.3B Revenue (TTM), FY26 Q1: $9.8B Revenue (TTM), FY26 Q2: $9.5B $9.5B

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Revenue (TTM)
FY23 Q3 $9.8B
FY23 Q4 $9.5B
FY24 Q1 $9.7B
FY24 Q2 $9.9B
FY24 Q3 $10.1B
FY24 Q4 $10.5B
FY25 Q1 $10.6B
FY25 Q2 $10.6B
FY25 Q3 $10.5B
FY25 Q4 $10.3B
FY26 Q1 $9.8B
FY26 Q2 $9.5B
Revenue growth, TTM YoY NVR, Inc.
-10% 0% 10% 20% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue growth, TTM YoY, FY23 Q3: -2.5% Revenue growth, TTM YoY, FY23 Q4: -9.6% Revenue growth, TTM YoY, FY24 Q1: -6.3% Revenue growth, TTM YoY, FY24 Q2: -0.6% Revenue growth, TTM YoY, FY24 Q3: 3.2% Revenue growth, TTM YoY, FY24 Q4: 10.6% Revenue growth, TTM YoY, FY25 Q1: 9.5% Revenue growth, TTM YoY, FY25 Q2: 6.4% Revenue growth, TTM YoY, FY25 Q3: 3.4% Revenue growth, TTM YoY, FY25 Q4: -1.9% Revenue growth, TTM YoY, FY26 Q1: -7.5% Revenue growth, TTM YoY, FY26 Q2: -9.9% -9.9%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q3 -2.5%
FY23 Q4 -9.6%
FY24 Q1 -6.3%
FY24 Q2 -0.6%
FY24 Q3 3.2%
FY24 Q4 10.6%
FY25 Q1 9.5%
FY25 Q2 6.4%
FY25 Q3 3.4%
FY25 Q4 -1.9%
FY26 Q1 -7.5%
FY26 Q2 -9.9%
FCF margin (TTM) NVR, Inc.
10% 12% 14% 16% 18% 20% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 FCF margin (TTM), FY23 Q3: 18.3% FCF margin (TTM), FY23 Q4: 15.5% FCF margin (TTM), FY24 Q1: 13.4% FCF margin (TTM), FY24 Q2: 15.1% FCF margin (TTM), FY24 Q3: 11.9% FCF margin (TTM), FY24 Q4: 12.8% FCF margin (TTM), FY25 Q1: 13.3% FCF margin (TTM), FY25 Q2: 11.4% FCF margin (TTM), FY25 Q3: 12.4% FCF margin (TTM), FY25 Q4: 10.6% FCF margin (TTM), FY26 Q1: 12.6% FCF margin (TTM), FY26 Q2: 11.0% 11.0%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q3 18.3%
FY23 Q4 15.5%
FY24 Q1 13.4%
FY24 Q2 15.1%
FY24 Q3 11.9%
FY24 Q4 12.8%
FY25 Q1 13.3%
FY25 Q2 11.4%
FY25 Q3 12.4%
FY25 Q4 10.6%
FY26 Q1 12.6%
FY26 Q2 11.0%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-Q. Generated November 3, 2026. Definitions in our methodology.

Financial statements

US$ billions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2009 Dec 2009 2010 Dec 2010 2011 Dec 2011 2012 Dec 2012 2013 Dec 2013 2014 Dec 2014 2015 Dec 2015 2016 Dec 2016 2017 Dec 2017 2018 Dec 2018 2019 Dec 2019 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025 LTM Jun 2026
Income
Revenue 2.7 3.0 2.7 3.2 4.2 4.4 5.2 5.8 6.3 7.2 7.4 7.5 9.0 10.5 9.5 10.5 10.3 9.5
Net income 0.2 0.2 0.1 0.2 0.3 0.3 0.4 0.4 0.5 0.8 0.9 0.9 1.2 1.7 1.6 1.7 1.3 1.1
Diluted EPS $31.26 $33.42 $23.01 $35.12 $54.81 $63.50 $89.99 $103.61 $126.77 $194.80 $221.13 $230.11 $320.48 $491.82 $463.31 $506.69 $436.55 $387.33
Growth (year on year)
Revenue — +10.9% −12.6% +19.8% +32.2% +5.5% +16.1% +12.9% +8.3% +13.6% +3.1% +2.0% +18.8% +17.6% −9.6% +10.6% −1.9% −9.9%
Net income — +7.2% −37.2% +39.5% +47.6% +5.7% +36.0% +11.1% +26.4% +48.3% +10.2% +2.6% +37.2% +39.5% −7.8% +5.7% −20.3% −24.9%
Diluted EPS — +6.9% −31.1% +52.6% +56.1% +15.9% +41.7% +15.1% +22.4% +53.7% +13.5% +4.1% +39.3% +53.5% −5.8% +9.4% −13.8% −18.4%
Margins
Net margin 7.0% 6.8% 4.9% 5.7% 6.3% 6.3% 7.4% 7.3% 8.5% 11.1% 11.9% 12.0% 13.8% 16.4% 16.7% 16.0% 13.0% 12.0%
Free-cash-flow margin 8.7% 1.6% −0.4% 7.9% 6.0% 3.4% 4.0% 6.4% 8.7% 9.8% 11.4% 12.1% 13.7% 17.6% 15.5% 12.8% 10.6% 11.0%
Cash flow
Cash from operations 0.2 0.1 0.0 0.3 0.3 0.2 0.2 0.4 0.6 0.7 0.9 0.9 1.2 1.9 1.5 1.4 1.1 1.1
Capital spending 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Free cash flow 0.2 0.0 −0.0 0.3 0.3 0.2 0.2 0.4 0.6 0.7 0.8 0.9 1.2 1.9 1.5 1.3 1.1 1.0
Stock-based pay 0.0 0.1 0.1 0.1 0.0 0.1 0.1 0.0 0.0 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1
Free cash flow after stock pay 0.2 −0.0 −0.1 0.2 0.2 0.1 0.2 0.3 0.5 0.6 0.8 0.9 1.2 1.8 1.4 1.3 1.0 1.0
Balance sheet
Cash 1.3 1.2 0.5 1.2 0.9 0.5 0.5 0.4 0.7 0.7 1.2 2.8 2.6 2.6 3.2 2.7 2.0 1.2
Total debt 0.0 0.0 0.0 0.0 0.6 — 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Net debt (negative = net cash) −1.3 −1.2 −0.5 −1.2 −0.3 −0.5 −0.5 −0.4 −0.7 −0.7 −1.2 −2.8 −2.6 −2.6 −3.2 −2.7 −2.0 −1.2
Diluted shares 6m 6m 6m 5m 5m 4m 4m 4m 4m 4m 4m 4m 4m 4m 3m 3m 3m 3m
Returned to shareholders
Buybacks — 0.4 0.7 0.2 0.6 0.6 0.4 0.5 0.4 0.8 0.7 0.4 1.5 1.5 1.1 2.1 1.8 1.8
Total returned — 0.4 0.7 0.2 0.6 0.6 0.4 0.5 0.4 0.8 0.7 0.4 1.5 1.5 1.1 2.1 1.8 1.8

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

0 of 0 checks passed · June 30, 2026
  • Short-term assets cover short-term liabilities The company doesn't report a short-term split. Not assessable.
  • Short-term assets cover long-term liabilities Not assessable from the reported split. Not assessable.
  • More cash than debt Cash or debt not separately reported. Not assessable.
  • Debt below 40% of shareholders' equity Equity or debt not reported. Not assessable.
  • Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
  • A year's operating cash flow covers at least 20% of debt Cash flow or debt not reported. Not assessable.
  • Operating profit covers interest at least five times over Interest not separately reported. Not assessable.

From NVR, Inc.'s latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

FY2026 Q2 TTM
Buybacks (TTM)
$1.8B
Returned to shareholders
170%
of free cash flow
Buybacks, last 3 fiscal years
$5B
Diluted share count
−7.9%
year over year
Total shareholder yield
10.2%
dividends 0.0% + buybacks 10.2% of market value

Competitors: side by side with peers

Closest by revenue in homebuilding
Last 12 months unless stated NVR TOL PHM KBH MHO DFH Median
Revenue, last 12 months $9.5bn $10.8bn $16.0bn $5.2bn $4.2bn $4.1bn $3.8bn
Revenue growth, last 12 months −9.9% −1.1% −9.3% −20.8% −6.0% −12.2% −7.1%
Revenue growth, 3-year average −1.6% 0.2% −1.8% −8.1% −0.6% 4.7% −0.6%
Revenue growth, latest quarter −10.5% −9.7% −9.8% −20.0% −4.9% −7.6% −6.2%
Gross margin — 23.7% — 19.1% 20.7% 19.8% 21.1%
Operating margin — 13.8% — 7.6% 8.2% — 9.1%
Operating margin, 3-year average — 16.3% — 6.1% 12.4% — 12.0%
Net margin 12.0% 11.1% 11.2% 4.4% 6.6% 3.5% 7.2%
Cash from operations / revenue 11.2% 11.1% 8.8% 1.4% 3.6% −3.3% 7.8%
Free-cash-flow margin 11.0% 10.1% 8.1% 0.6% 3.3% −3.9% 7.7%
Free-cash-flow margin, 3-year average 12.5% 8.9% 8.1% 3.3% 3.9% −2.1% 5.8%
Stock pay / revenue 0.7% 0.3% 0.4% 0.6% 0.4% 0.5% 0.5%
Change in share count −7.9% −5.0% −5.1% −11.8% −4.8% −4.6% −4.8%

Median of all 17 companies we cover in homebuilding. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

17 homebuilding companies
Measure Company Peer median Rank
Revenue growth Growth -9.9% -7.1% 14 of 17
Change in growth rate Growth -2.5pp -0.6pp 13 of 17
Net margin Profitability 12.0% 7.2% 3 of 17
Free-cash-flow margin Cash generation 11.0% 7.7% 2 of 17
Stock pay as % of revenue Cash generation 0.7% 0.5% 14 of 17
Change in share count Balance sheet -7.9% -4.8% 3 of 16

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to December 31, 2025
Segments
Line of business Revenue Share YoY
Home Building $10.1B 97.8% ▼ 1.9%
Mortgage Banking $230M 2.2% ▼ 1.0%

From NVR, Inc.'s 10-K filed February 11, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$16.3B
Institutions reporting
684
Shares held vs prior quarter
▲ 3.2%
Positions opened / closed
81 / 47

Top buyers and sellers, Q2 2026: 324 institutions bought and 283 sold ; the biggest buyer was AQR Capital Management LLC (+40K shares) and the biggest seller Robeco Institutional Asset Management B.V (−10K). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Blackrock, Inc. $2B 294K 12.3% ▲ 4.3%
Vanguard Capital Management LLC $1.2B 175K 7.3% ▼ 1.5%
Capital Research Global Investors $1.1B 164K 6.9% ▲ 0.5%
State Street Corp $877M 129K 5.4% ▲ 0.9%
Vanguard Portfolio Management LLC $771M 113K 4.7% ▼ 5.1%
Geode Capital Management, LLC $500M 74K 3.1% ▲ 0.1%
Boston Partners $414M 61K 2.5% ▲ 4.8%
Principal Financial Group Inc $399M 59K 2.4% ▲ 0.5%
AQR Capital Management LLC $335M 49K 2.1% ▲ 453.9%
Invesco Ltd. $319M 47K 2.0% ▲ 8.9%
Capital World Investors $279M 41K 1.7% ▲ 0.3%
Norges Bank $265M 39K 1.6% —

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not NVR, Inc.'s complete shareholder register. Values are as reported by the filers ; 1 inconsistently scaled filing rows were excluded.

Insider trading activity

Full insider history and chart
Insider purchases History → $577,832 3 trades by 2 insiders, last 12 months Insider sales History → $9M 4 trades by 2 insiders · 0% under pre-set plans
Net ▼ $8.4M net selling
Insider Date Trade Shares Price Value
Oliver George Director August 7, 2026 Buy 63 $6431.51 $405,185
Devito Michael J Director April 24, 2026 Buy 11 $6699.50 $73,694
Ross Susan Williamson Director February 13, 2026 Sell 200 $7922.06 $1.6M
Kelpy Matthew B. VP, Chief Accounting Officer February 10, 2026 Sell 500 $8100.00 $4M
Ross Susan Williamson Director February 5, 2026 Sell 200 $8091.62 $1.6M
Ross Susan Williamson Director February 4, 2026 Sell 220 $8000.00 $1.8M
Devito Michael J Director November 3, 2025 Buy 14 $7068.05 $98,953

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Trades by members of Congress

All 5 trades and filings

In the last 12 months, 1 member of Congress disclosed 1 purchase and 0 sales of NVR, Inc. shares.

  • Maria Elvira Salazar(R-FL 27):Purchase, $1,001 - $15,000, traded March 19, 2026, filed April 21, 2026
  • Robert P. Bresnahan, Jr.(R-PA 8):Sale (full), $1,001 - $15,000, traded January 13, 2025, filed February 13, 2025
  • Kathy E. Manning(D-NC 6):Sale (full), $1,001 - $15,000, traded August 3, 2022, filed September 14, 2022

Value ranges as filed; reports can arrive up to 45 days after a trade.

Earnings dates and SEC filings

Results announcements

Next expected around January 27, 2027 estimated from the company's past filing pattern, not announced

  • October 22, 2026
  • July 23, 2026
  • April 22, 2026
  • January 28, 2026
  • October 22, 2025
  • July 23, 2025

Recent SEC filings

Data status

When each part of this page on NVR, Inc. was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

NVR, Inc. in brief

What does NVR, Inc. do?
NVR, Inc. is a US-listed company in the homebuilding industry. Its financial year ends in December.
What is NVR, Inc.'s stock ticker?
NVR, Inc. trades under the ticker NVR on NYSE. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is NVR, Inc.'s revenue, and how fast is it growing?
Over its most recent trailing twelve months, NVR, Inc. reported revenue of $9.5B, 9.9% lower than a year earlier, according to its SEC filings.
What is NVR, Inc.'s free cash flow?
NVR, Inc.'s free-cash-flow margin is 11.0% of revenue over the trailing twelve months, ranking 2 of the 17 homebuilding companies we cover.
What is NVR, Inc.'s fair value (intrinsic value) per share?
Our discounted-cash-flow model of NVR, Inc.'s free cash flow after stock-based pay gives ~$6600 per share in the base case, and ~$5100–$8700 across growth scenarios. These are model values under stated assumptions — not a price target or a recommendation.
Who are NVR, Inc.'s largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Blackrock, Inc., Vanguard Capital Management LLC and Capital Research Global Investors. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
Is NVR, Inc. buying back stock, and does it pay a dividend?
NVR, Inc. spent $1.8B on share repurchases over the trailing twelve months, and its diluted share count fell 7.9% over the year.
What is NVR, Inc.'s market cap?
On November 2, 2026, NVR, Inc.'s market capitalisation was about $18.5B, with a price-to-earnings ratio of 16.2 and net debt of -$1.2B. Market figures come from third-party market data and may be delayed.
Who are NVR, Inc.'s competitors?
In our Homebuilding peer group, the companies closest to NVR, Inc. are Toll Brothers, Inc., PulteGroup, KB Home, M/i Homes, Inc. and Dream Finders Homes, Inc. The side-by-side comparison below sets their revenue, margins and growth against NVR, Inc.'s.
Are insiders buying or selling NVR, Inc. stock?
Over the last 12 months, NVR, Inc.'s directors and officers reported 3 open-market purchases and 4 sales on Form 4. The insider trading page charts every trade.
When is NVR, Inc.'s next earnings date?
Around January 27, 2027, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — NVR, Inc. announces its own schedule.