NVR, Inc.NVR
NYSE•Consumer Cyclical•Residential Construction
NVR, Inc. operates as a homebuilder in the United States. The company operates through Homebuilding and Mortgage Banking segments. It engages in the construction and sale of single-family detached homes, townhomes, and condominium buildings under the Ryan Homes, NVHomes, and Heartland Homes names. The company markets its Ryan Homes products to first-time and first-time move-up buyers; and NVHomes and Heartland Homes products to move-up and luxury buyers. It also provides various mortgage related services to its homebuilding customers, as well as brokers title insurance; performs title searches; and sells mortgage loans to investors in the secondary markets on a servicing released basis. The company primarily serves Maryland, Virginia, West Virginia, Delaware, Washington, D.C., New Jersey, Eastern Pennsylvania, New York, Ohio, Western Pennsylvania, Indiana, Illinois, North Carolina, South Carolina, Tennessee, Florida, Georgia, and Kentucky. NVR, Inc. was founded in 1948 and is headquartered in Reston, Virginia.
NVR, Inc. (NVR) reported trailing twelve months revenue of $9.80B as of March 2026, a 7.5% decline year-over-year. Quarterly revenue reached $1.88B, reflecting a contraction in sales.
NVR, Inc. generated $1.24B in TTM net income, with quarterly EBITDA of $220.06M. The operating margin contracted from 16.7% to 11.3%, suggesting rising cost pressures or pricing headwinds.
The spread between operating margin (11.3%) and net margin (10.5%) indicates tight cost control with minimal non-operating drag. Net margin has narrowed from 12.5% a year ago, reflecting increased costs or interest expense.
NVR trades at a P/E of 14.6x (below the broader market average) and a P/S of 1.8x. The price-to-book ratio of 5.2x indicates a significant premium over book value.
The company generated $334.81M in free cash flow over the trailing twelve months, a 66.8% increase year-over-year, indicating cash generation ability. The balance sheet shows $5.59B in total assets with no in long-term debt against $3.49B in stockholders equity. Data based on the most recent quarterly reports.
Competitive analysis based on 21 quarters of fundamental data
Operating margins are positive at ~16.6% on average, but show some variability — pricing power may be sensitive to market conditions.
Consistently high ROE averaging 38.0% suggests a durable competitive advantage and efficient capital allocation.
8 of the last 8 quarters generated positive FCF. The company generally funds itself but has occasional cash consumption quarters.
Revenue has been flat or declining over recent quarters, which may indicate eroding demand or competitive pressure.
Data-driven red flags and warnings across 21 quarters
Operating margins dropped 27.4% over recent quarters — a sharp decline suggesting serious cost or pricing challenges.
FCF/Net Income has dropped below 0.7x in 3 quarters — monitor for earnings quality deterioration.
Limited debt-to-equity data available.
Revenue has softened, declining in 4 quarters. Monitor for further erosion.
Free cash flow is consistently positive — the business self-funds without external capital reliance.
Shares decreased 11.1% — net buybacks are reducing shares outstanding and boosting per-share value.
Quarterly standardized metrics.
Stock price and market valuation
Revenue and earnings growth across quarters
Assets, cash, debt, and leverage
Price multiples and return ratios
Operating efficiency and return metrics
Free cash flow, earnings quality, and capital allocation