NVR on NYSE

NVR, Inc.

Logo: The company website, Non-free logo, via Wikipedia⁵

American homebuilding company

NVR, Inc. is an American company engaged in home construction headquartered in Reston, Virginia.³ From Wikipedia, CC BY-SA 4.0

$5,938.71 up 205.59 (3.59%)Price as of Oct 15, 2026 at 19:45 UTC

Last updated Oct 16, 2026.

Overview

1980Founded¹

Compare with Toll Brothers, KB Home or PulteGroup, or pick any stock.

TickerNVR on NYSE¹
IndustryOperative Builders¹
HeadquartersReston¹
Websitewww.nvrinc.com
Incorporated inVA⁶
Business address11700 Plaza America Dr., Suite 500, Reston, Va 20190⁶
Filer categoryLarge accelerated filer⁶

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NVR, Inc. is an American company engaged in home construction headquartered in Reston, Virginia. It also operates a mortgage banking and title services business. The company primarily operates on the East Coast of the United States, but its operations encompass 14 states as well as Washington, D.C. In 2021, 22% of the company's revenue was from the Washington metropolitan area.³

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

13.0%Net margin⁸

-1.9%Revenue growth, 2025⁸

34.7%Return on equity⁸

$1.1BFree cash flow⁸

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Business segments

Home Building brought in 98% of the revenue NVR, Inc. broke down this way in fiscal 2025.

Home Building$10.1B⁸98%down 2% from 2024
Mortgage Banking$229.7M⁸2%down 1% from 2024

Business segments by year

Business segments	2023	2024	2025
Home Building	$9.3B	$10.3B	$10.1B
Mortgage Banking	$203.6M	$232.1M	$229.7M

Where the money goes

Where each dollar of revenue went, fiscal 2025

Other costsProfit

Other costs83¢$8.6B
Income tax4¢$422.1M
Profit13¢$1.3B

Out of $10.3B in revenue.⁸

Where each dollar of operating cash went, fiscal 2025

Share buybacks

Capital spending1¢$24.5M
Share buybacks99¢$1.8B

Out of $1.1B of cash from operations. Spending exceeded cash from operations; the rest came from savings or borrowing.⁸

Financial statements

Revenue⁹¹⁰¹¹¹²⁸$10.3B in 2025+40% since 2019

Net income⁹¹⁰¹¹¹²⁸$1.3B in 2025+53% since 2019

Every line of the income statement in the latest annual report, as filed.⁸

Period ending	2025-12-31	2024-12-31	2023-12-31
Revenues	$10.3B	$10.5B	$9.5B
Profit before taxes	$1.8B	$2.1B	$1.9B
Income tax expense	-$422.1M	-$433.6M	-$336.8M
Net income	$1.3B	$1.7B	$1.6B
Basic earnings per share (USD per share)	$462.00	$540.88	$491.52
Diluted earnings per share (USD per share)	$436.55	$506.69	$463.31
Basic weighted average shares outstanding (in Shares)	2.9M shares	3.1M shares	3.2M shares
Diluted weighted average shares outstanding (in Shares)	3.1M shares	3.3M shares	3.4M shares

Total assets¹⁵⁹¹⁰¹¹¹²⁸$5.9B in 2025+54% since 2019

Total liabilities¹⁵⁹¹⁰¹¹¹²⁸$2.0B in 2025+36% since 2019

Shareholders’ equity¹⁰¹¹¹²⁸$3.9B in 2025+65% since 2019

Cash¹⁵¹²⁸$2.0B in 2025+69% since 2019

Every line of the balance sheet in the latest annual report, as filed.⁸

Period ending	2025-12-31	2024-12-31	2023-12-31
Land under development	$39.3M	$65.4M
Contract land deposits, net	$851.5M	$726.7M
Total assets	$5.9B	$6.4B
Operating lease liabilities	$143.7M
Total liabilities	$2.0B	$2.2B
Common stock, $0.01 par value; 60,000,000 shares authorized; 20,555,330 shares issued as of both December 31, 2025 and December 31, 2024	$206.0K	$206.0K
Additional paid-in capital	$3.2B	$3.0B
Deferred compensation trust 106,697 shares of NVR, Inc. common stock as of both December 31, 2025 and December 31, 2024	-$16.7M	-$16.7M
Deferred compensation liability	$16.7M	$16.7M
Retained earnings	$16.4B	$15.0B
Less treasury stock at cost 17,755,943 and 17,543,686 shares as of December 31, 2025 and December 31, 2024, respectively	-$15.7B	-$13.9B
Total shareholders' equity	$3.9B	$4.2B	$4.4B
Total liabilities and shareholders' equity	$5.9B	$6.4B
Common stock, par value	$0.01	$0.01
Common stock, shares authorized	60.0M shares	60.0M shares
Common stock, shares issued	20.6M shares	20.6M shares
Deferred compensation trust, shares	106.7K shares	106.7K shares
Treasury stock, shares	17.8M shares	17.5M shares

Cash from operations⁹¹⁰¹¹¹²⁸$1.1B in 2025+29% since 2019

Capital spending⁹¹⁰¹¹¹²⁸$24.5M in 2025+8% since 2019

Free cash flow⁹¹⁰¹¹¹²⁸$1.1B in 2025+30% since 2019

Share buybacks⁹¹⁰¹¹¹²⁸$1.8B in 2025+162% since 2019

Every line of the cash flow in the latest annual report, as filed.⁸

Period ending	2025-12-31	2024-12-31	2023-12-31
Net income	$1.3B	$1.7B	$1.6B
Depreciation and amortization	$24.5M	$18.4M	$16.9M
Equity-based compensation expense	$69.2M	$73.9M	$99.5M
Contract land deposit impairments (recoveries) and other impairments, net	$75.9M	$7.2M	-$2.9M
Gain on sale of loans, net	-$187.1M	-$189.5M	-$163.3M
Deferred tax (benefit) expense	-$1.4M	$5.8M	-$3.7M
Mortgage loans closed	-$6.0B	-$6.3B	-$5.7B
Mortgage loans sold and principal payments on mortgage loans held for sale	$6.0B	$6.4B	$5.9B
Distribution of earnings from unconsolidated joint ventures	$0	$1.5M	$2.0M
Decrease (increase) in inventory	$335.1M	-$108.6M	-$161.9M
Increase in contract land deposits	-$200.7M	-$157.3M	-$77.6M
(Increase) decrease in receivables	-$57.4M	$62.7M	-$59.7M
(Decrease) increase in accounts payable and accrued expenses	-$142.3M	-$83.2M	$49.1M
Increase (Decrease) in Contract with Customer, Liability	-$73.7M	-$11.5M	$20.6M
Other, net	-$9.5M	-$10.5M	-$22.2M
Operating activities	$1.1B	$1.4B	$1.5B
Investments in and advances to unconsolidated joint ventures	-$47.6M	-$3.1M	-$1.8M
Distribution of capital from unconsolidated joint ventures	$0	$2.7M	$180.0K
Purchase of property, plant and equipment	-$24.5M	-$29.2M	-$24.9M
Proceeds from the sale of property, plant and equipment	$914.0K	$3.0M	$2.4M
Cash Provided by (Used in) Investing Activity, Including Discontinued Operation	-$71.2M	-$26.6M	-$24.1M
Purchase of treasury stock	-$1.8B	-$2.1B	-$1.1B
Principal payments on finance lease liabilities	-$4.7M	-$2.6M	-$1.7M
Proceeds from the exercise of stock options	$80.1M	$161.6M	$250.5M
Net cash used in financing activities	-$1.8B	-$1.9B	-$833.0M
Net (decrease) increase in cash, restricted cash, and cash equivalents	-$707.8M	-$550.8M	$640.9M
Interest paid during the year, net of interest capitalized	$29.9M	$29.2M	$29.2M
Income taxes paid during the year, net of refunds	$438.8M	$409.9M	$407.2M

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The story

Founded by Dwight Schar in 1980.¹

The company was formed in 1980 as NVHomes, Inc. (formerly North Virginia Homes Inc.) by Dwight Schar.

In 1986, the company acquired Ryan Homes. It was founded in 1948 in Pittsburgh, Pennsylvania, to provide housing in the expanding post-war economy.

In April 1992, during the early 1990s recession, the company filed bankruptcy. In September 1993, the company emerged from bankruptcy protection and once again became a public company.

In December 2012, the company acquired Heartland Homes.

In September 2019, the company was added to the S&P 500 stock market index.

From Wikipedia’s article on NVR, Inc., shared under CC BY-SA 4.0.⁷

Leadership

Who has led NVR, Inc., and when. Pick a name to see everywhere that person has worked.

FounderDwight Schar¹

Controversies and legal

Lawsuit

In February 2010, then Attorney General of Delaware, Beau Biden, sued the company for fraud, seeking damages of $10,000 for each of 39 homeowners, alleging that the company did not provide promised amenities, primarily a clubhouse with restaurant and fitness center, for homeowners of a development built by the company in Townsend, Delaware. The lawsuit was settled in April 2010, with the company agreeing to complete development of the promised amenities and reimburse homeowners for the period when they had been paying for promised amenities that they did not receive.