NVRNYSEOperative BuildersFiscal year ends December 31
NVR INC
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Aug 5, 2026
$5828.00−91.82 (-1.55%)
Close on Oct 19, 2026
- Market cap
- $16.41B
- P/E (TTM)
- 15.1
- Dividend yield
- –
Margins
Share of revenue, fiscal years 2011 to 2025
Net margin
13.0%+1.0 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | -1.9% | -0.6% | +6.5% | +7.2% | |
| Net income | -20.3% | -8.1% | +8.3% | +13.3% | |
| EPS, diluted | -13.8% | -3.9% | +13.7% | +17.1% | |
| Free cash flow | -18.5% | -16.0% | +3.8% | +18.1% |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | 33.4% | 33.1% | 33.2% | |
| Return on assets | 16.5% | 18.8% | 21.9% | |
| Capex to revenue | 0.4% | 0.2% | 0.2% | |
| Diluted shares | 4M | 4M | 3M |
Where the cash went
Fiscal 2021 to 2025, five years combined
NVR generated $7.11B from operations and spent $8.13B on capital expenditure, dividends and share buybacks. 1% of that went back into the business.
Generated
$7.11B
Used
$8.13B
Capital expenditure$114.90M1%Dividends$00%Share buybacks$8.01B99%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin13.0%
×Asset turnover1.69×
×Equity multiplier1.52×
=Return on equity, FY202533.2%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | 13.0% | 1.69× | 1.52× | 33.2% |
| FY2024 | 16.0% | 1.62× | 1.51× | 39.2% |
| FY2023 | 16.7% | 1.55× | 1.56× | 40.4% |
| FY2022 | 16.4% | 1.83× | 1.77× | 53.0% |
| FY2021 | 13.8% | 1.54× | 1.90× | 40.5% |
| FY2020 | 12.0% | 1.57× | 1.76× | 33.1% |
| FY2019 | 11.9% | 2.12× | 1.68× | 42.3% |
| FY2018 | 11.1% | 2.33× | 1.80× | 46.7% |
| FY2017 | 8.5% | 2.24× | 1.94× | 36.9% |
| FY2016 | 7.3% | 2.26× | 2.03× | 33.4% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
4of 6 tests passed in fiscal 2025. Some tests lack the figures they need.
- ProfitableNet income above zero$1.34B
- Cash generatingOperating cash flow above zero$1.12B
- Return on assets improvedROA up on the prior year25.5% → 21.0%
- Earnings backed by cashOperating cash flow above net income$1.12B vs $1.34B
- Less leverageLong-term debt to assets fell– → –
- Better liquidityCurrent ratio rose– → –
- No dilutionShare count did not rise3M → 3M
- Gross margin improvedGross margin up on the prior year– → –
- More efficientAsset turnover rose1.59 → 1.62