NVR INC

NVR 10-K · FY 2025

NVR FY 2025 request

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Income Statement

Income Statement
Metric FY 2025 FY 2024 YoY
Revenue 10,323,959 10,524,479 -1.9%
Show Business Segments breakouts
Home Building 10,094,269 10,292,425 -1.9%
Home Building · Mid Atlantic 4,372,010 4,423,768 -1.2%
Home Building · Mid East 1,875,046 1,861,735 +0.7%
Home Building · North East 1,202,411 1,165,873 +3.1%
Home Building · South East 2,644,802 2,841,049 -6.9%
Mortgage Banking 229,690 232,054 -1.0%
Other Income (FY)
Show Business Segments breakouts
Home Building 96,260 143,890 -33.1%
Mortgage Banking 5,189 5,480 -5.3%
Cost of Revenue (FY)
Show Business Segments breakouts
Home Building -7,953,401 -7,850,549 -1.3%
Home Building · Mid Atlantic -3,352,548 -3,318,299 -1.0%
Home Building · Mid East -1,479,047 -1,447,286 -2.2%
Home Building · North East -895,669 -862,223 -3.9%
Home Building · South East -2,160,303 -2,206,202 +2.1%
Selling, General & Administrative (FY)
Show Business Segments breakouts
Home Building -599,667 -598,207 -0.2%
Interest Expense (FY)
Show Business Segments breakouts
Home Building -27,578 -26,988 -2.2%
Mortgage Banking -1,257 -795 -58.1%
Income Loss From Continuing Operations Before Income Taxes Domestic 1,761,932 2,115,506 -16.7%
Show Business Segments breakouts
Home Building 1,609,883 1,960,571 -17.9%
Home Building · Mid Atlantic 722,599 816,255 -11.5%
Home Building · Mid East 266,990 290,834 -8.2%
Home Building · North East 213,546 217,225 -1.7%
Home Building · South East 202,011 388,158 -48.0%
Mortgage Banking 152,049 154,935 -1.9%
Mortgage Banking · Operating Segments 156,161 159,201 -1.9%
Show Consolidation Items breakouts
Corporate And Reconciling Items 200,625 243,833 -17.7%
Operating Segments 1,561,307 1,871,673 -16.6%
Interest And Fee Income Loans Held For Sale Mortgages (FY)
Show Business Segments breakouts
Mortgage Banking 17,886 19,092 -6.3%
General & Administrative (FY)
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Mortgage Banking -99,459 -100,896 +1.4%
Income Tax Expense (Benefit) -422,116 -433,578 +2.6%
Net Income 1,339,816 1,681,928 -20.3%
Show Equity Components breakouts
Retained Earnings 1,339,816 1,681,928 -20.3%
EPS (Basic) 462 540.88 -14.6%
EPS (Diluted) 436.55 506.69 -13.8%
Wtd Avg Shares (Basic) 2,900 3,110 -6.8%
Wtd Avg Shares (Diluted) 3,069 3,319 -7.5%

Balance Sheet

Balance Sheet
Metric FY 2025 FY 2024 YoY
Current Assets
Cash & Cash Equivalents (Q)
Show Business Segments breakouts
Home Building 1,883,844 2,561,339 -26.5%
Home Building · Corporate And Reconciling Items 1,883,844 2,561,339 -26.5%
Mortgage Banking 32,642 49,636 -34.2%
Non-Current Assets
Property, Plant & Equipment (Q)
Show Business Segments breakouts
Home Building 103,770 95,619 +8.5%
Mortgage Banking 7,727 7,373 +4.8%
Operating Lease Right-of-Use Assets (Q)
Show Business Segments breakouts
Home Building 110,535 78,340 +41.1%
Home Building · Corporate And Reconciling Items 110,535 78,340 +41.1%
Mortgage Banking 23,953 23,482 +2.0%
Deferred Tax Assets (Q)
Show Business Segments breakouts
Home Building 143,666 142,192 +1.0%
Home Building · Corporate And Reconciling Items 143,666 142,192 +1.0%
Total Assets 5,856,930 6,380,988 -8.2%
Show Business Segments breakouts
Home Building 5,089,563 5,888,232 -13.6%
Home Building · Mid Atlantic 1,185,864 1,337,659 -11.3%
Home Building · Mid East 359,826 396,854 -9.3%
Home Building · North East 374,313 368,300 +1.6%
Home Building · South East 971,162 914,318 +6.2%
Mortgage Banking 767,367 492,756 +55.7%
Mortgage Banking · Operating Segments 760,020 485,409 +56.6%
Show Consolidation Items breakouts
Corporate And Reconciling Items 2,205,745 2,878,448 -23.4%
Operating Segments 3,651,185 3,502,540 +4.2%
Other Assets
Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Other 79,308 68,784 +15.3%
Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Employee Compensation 4,351 4,349 0.0%
Restricted Cash And Cash Equivalents (Q)
Show Business Segments breakouts
Home Building 34,348 42,172 -18.6%
Mortgage Banking 6,047 11,520 -47.5%
Accounts Receivable Net (Q)
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Home Building 32,742 32,622 +0.4%
Inventory Real Estate Land And Land Development Costs 39,312 65,394 -39.9%
Show Business Segments breakouts
Home Building 39,312 65,394 -39.9%
Real Estate Inventory Construction Materials (Q)
Show Business Segments breakouts
Home Building 21,524 28,893 -25.5%
Building Inventory (Q)
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Home Building 1,723,560 2,058,707 -16.3%
Deposits Assets 851,458 726,675 +17.2%
Show Business Segments breakouts
Home Building 851,458 726,675 +17.2%
Loans Receivable Held For Sale Net Not Part Of Disposal Group (Q)
Show Business Segments breakouts
Mortgage Banking 571,596 355,209 +60.9%
Other Assets (Q)
Show Business Segments breakouts
Home Building 205,640 150,566 +36.6%
Mortgage Banking 125,402 45,536 +175.4%
Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost 48,518 47,467 +2.2%
Deferred Tax Assets Inventory 16,727 18,468 -9.4%
Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Reserves 5,400 6,998 -22.8%
Deferred Tax Assets Other 9,833 13,595 -27.7%
Deferred Tax Assets Gross 164,137 159,661 +2.8%
Deferred Income Tax Liabilities 13,168 10,135 +29.9%
Deferred Tax Assets Liabilities Net 150,969 149,526 +1.0%
Non-Current Liabilities
Accounts Payable Current And Noncurrent (Q)
Show Business Segments breakouts
Home Building 259,244 332,772 -22.1%
Accrued Liabilities Current And Noncurrent (Q)
Show Business Segments breakouts
Home Building 376,976 441,300 -14.6%
Total Liabilities 1,992,061 2,170,916 -8.2%
Show Business Segments breakouts
Home Building 1,912,179 2,092,055 -8.6%
Mortgage Banking 79,882 78,861 +1.3%
Other Liabilities
Contract With Customer Liability (Q)
Show Business Segments breakouts
Home Building 249,210 322,926 -22.8%
Operating Lease Liability 143,733
Show Business Segments breakouts
Home Building 117,589 83,939 +40.1%
Mortgage Banking 26,144 25,428 +2.8%
Senior Notes (Q)
Show Business Segments breakouts
Home Building 909,160 911,118 -0.2%
Show Debt Instrument breakouts
Senior Notes due 2030 909,160 911,118 -0.2%
Accounts Payable And Other Accrued Liabilities (Q)
Show Business Segments breakouts
Mortgage Banking 53,738 53,433 +0.6%
Stockholders' Equity
Common Stock 206 206 0.0%
Additional Paid In Capital Common Stock 3,155,367 3,031,637 +4.1%
Common Stock Shares Held In Employee Trust -16,710 -16,710 0.0%
Deferred Compensation Liability Current And Noncurrent 16,710 16,710 0.0%
Retained Earnings 16,386,769 15,046,953 +8.9%
Treasury Stock Common Value -15,677,473 -13,868,724 -13.0%
Total Stockholders' Equity 3,864,869 4,210,072 -8.2%
Show Equity Components breakouts
Additional Paid In Capital 3,155,367 3,031,637 +4.1%
Common Stock 206 206 0.0%
Deferred Compensation Liability 16,710 16,710 0.0%
Deferred Compensation Trust -16,710 -16,710 0.0%
Retained Earnings 16,386,769 15,046,953 +8.9%
Treasury Stock Common -15,677,473 -13,868,724 -13.0%
Total Liabilities & Equity 5,856,930 6,380,988 -8.2%
Lots And Housing Units Covered Under Sales Agreements With Customers (Q)
Show Business Segments breakouts
Home Building 1,410,695 1,727,243 -18.3%
Unsold Lots And Housing Units (Q)
Show Business Segments breakouts
Home Building 252,029 237,177 +6.3%

Cash Flow Statement

Cash Flow Statement
Metric FY 2025 FY 2024 YoY
Operating Activities
Depreciation & Amortization 24,510 18,375 +33.4%
Stock-Based Compensation 69,213 73,925 -6.4%
Show Consolidation Items breakouts
Corporate And Reconciling Items 69,213 73,925 -6.4%
Contract Land Deposit Impairment Recoveries 75,874 7,167 +958.7%
Gain Loss On Sale Of Mortgage Loans -187,128 -189,475 +1.2%
Deferred Income Taxes -1,443 5,793 -124.9%
Payments For Origination Of Mortgage Loans Held For Sale -6,045,981 -6,267,493 +3.5%
Proceeds From Sale Of Mortgage Loans Held For Sale 5,994,849 6,351,178 -5.6%
Change in Inventory 335,147 -108,557 +408.7%
Increase Decrease In Deposits Outstanding -200,657 -157,291 -27.6%
Increase Decrease In Receivables -57,368 62,664 -191.5%
Increase Decrease In Accounts Payable And Accrued Liabilities -142,268 -83,215 -71.0%
Change in Deferred Revenue -73,716 -11,515 -540.2%
Other Operating Activities Cash Flow Statement -9,528 -10,522 +9.4%
Net Cash from Operations 1,121,320 1,374,462 -18.4%
Investing Activities
Payments To Acquire Interest In Joint Venture -47,614 -3,100 -1435.9%
Capital Expenditures -24,508 -29,212 +16.1%
Proceeds From Sale Of Property Plant And Equipment 914 3,044 -70.0%
Net Cash from Investing -71,208 -26,553 -168.2%
Financing Activities
Share Repurchases -1,833,316 -2,057,677 +10.9%
Finance Lease Principal Payments -4,728 -2,634 -79.5%
Proceeds From Stock Options Exercised 80,146 161,625 -50.4%
Net Cash from Financing -1,757,898 -1,898,686 +7.4%
Net Change in Cash -707,786 -550,777 -28.5%
Supplemental
Interest Paid 29,890 29,203 +2.4%
Income Taxes Paid 438,766 409,853 +7.1%
Other Cash Flow
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents 1,956,881 2,664,667 -26.6%

Values in thousands USD. Source: SEC EDGAR 10-K filing.

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