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NVR, Inc. cash flow statement

In fiscal 2025, NVR, Inc.'s operations generated $1.12bn of cash; it spent $24.5m on capital projects, leaving free cash flow of $1.10bn. It returned $1.83bn through buybacks.

Cash flow statement

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

Fiscal year2009Dec 20092010Dec 20102011Dec 20112012Dec 20122013Dec 20132014Dec 20142015Dec 20152016Dec 20162017Dec 20172018Dec 20182019Dec 20192020Dec 20202021Dec 20212022Dec 20222023Dec 20232024Dec 20242025Dec 2025LTMJun 2026
Cash from operations2425512642701852273935707238679251,2421,8701,4981,3741,1211,067
Depreciation and amortisation107781318222223202122191717182526
Stock-based pay4653646534635444457679515883100746965
Capital spending3711121932182220202316181825292520
Free cash flow23948−102522511532083715507038449091,2251,8521,4731,3451,0971,046
Free cash flow after stock pay192−5−74187217901543275066287658581,1661,7691,3741,2711,028981
Share buybacks—4176892275545684314554228466983711,5381,5001,0822,0581,8331,784

Free cash flow is cash from operations minus capital spending. Free cash flow after stock pay also subtracts stock-based compensation, a real cost to shareholders that the cash flow statement adds back. Dividends, buybacks and shares issued are cash amounts for the period.

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Figures from NVR, Inc.'s SEC filings (10-K and 10-Q), retrieved October 20, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to NVR, Inc.