NVR
NVR, Inc.7530.24
-102.11-1.34%
Dec 16, 4:02:38 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
No earnings call transcript available
Key Stats
Market Cap
20.81BP/E (TTM)
16.56Basic EPS (TTM)
454.83Dividend Yield
0%Recent Filings
10-K
FY2025 results
NVR's FY2025 revenues dipped 2% to $10.3B with homebuilding settlements down 4% to 21,915 units, yet average settlement prices climbed to $460.6K. Gross margins eroded to 21.2% from 23.7%, hammered by higher lot costs, pricing pressures, and $75.9M contract land deposit impairments—South East took the hardest hit, profit cratering 48%. New orders plunged 10% to 20,410 units amid 17% cancellation rates and weak demand; backlog shrank 15% to 8,448 units. Q4 saw aggressive buybacks of 64,904 shares at ~$7,509 avg while holding $1.8B cash, $900M debt. Backlog mostly settles in 2026, but expect Q1 revenue plunge from weak Q3 orders. Mortgage banking held steady at $152M pretax. High interest rates crimp affordability.
8-K
NVR Q4 profits drop 20%
NVR reported Q4 net income of $363.8M, down 20% from 2024 amid $2.71B revenues, as homebuilding gross margins slipped to 20.4% from 23.6% due to higher lot costs, pricing pressure, and $35.7M land deposit impairments. New orders rose 3% to 4,951 units, yet backlog shrank 15% to 8,448 units. Mortgage banking pretax income climbed 24% to $57.2M on secondary gains.
10-Q
Q3 FY2025 results
NVR's Q3 revenues fell 5% y/y to $2.6B while homebuilding gross margin slipped to 21.0% from 23.4%, pressured by higher lot costs, pricing weakness, and $18.9M contract land deposit impairments—up from $3.9M last year. Homebuilding income dropped 18% y/y to $411M; diluted EPS declined 14% y/y to $112.33, consistent with 3.1M diluted shares. Operating cash flow held at $682M YTD, funding $1.3B in buybacks, yet cash dipped to $2.0B with $900M senior notes due 2030 and full revolver availability. Lot impairments signal affordability headwinds. Backlog shrinks fast.
8-K
Q3 earnings down 20%
NVR reported Q3 net income of $342.7M, down 20% from $429.3M last year, with revenues slipping to $2.61B from $2.73B. New orders fell 16% to 4,735 units at $464,800 average price, yet margins shrank to 21.0% from 23.4% amid higher lot costs and affordability woes. Backlog dropped 19% to 9,165 units.
8-K
NVR adds Oliver to board
NVR appointed George R. Oliver, ex-CEO of Johnson Controls, as independent director effective October 1, 2025, adding him to the Nominating and Corporate Governance Committee. Oliver brings deep operational leadership from Tyco and GE. Standard non-employee pay applies. Board gains proven expertise.
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