Sales down 1.9%, free cash flow down to $1.1B
The latest figures
All key numbers (31) From EDGAR
| EPS (ttm) | 361.76 | Sales (ttm) | 9.3B | Net income (ttm) | 1.0B | Sales growth | -1.9% | EPS growth | -13.8% | Sales Q/Q | -7.9% |
| Free cash flow | 818.2M | Gross margin | - | Oper. margin | - | Net margin | 11.2% | FCF margin | 8.8% | ROE | 30.5% |
| ROA | 18.8% | R&D / sales | - | Dividend | - | Debt/Eq | - | Curr. ratio | - | Cash | 1.2B |
| Op. cash flow (ttm) | 851.8M | Tax rate | 24.0% | Stock pay / sales | 0.7% | Shares out. | 2.6M | Shares Y/Y | -7.5% | Book / share | 1,298.29 |
| Cash / share | 442.04 | Sales / share | 3,523.51 | Asset turnover | 1.67 | Sales 3Y CAGR | -0.6% | Sales 5Y CAGR | +6.5% | EPS 3Y CAGR | -3.9% |
| EPS 5Y CAGR | +13.7% |
Hover or tap a number to see the XBRL line item and filing it comes from; click it to open that filing at SEC. What each number means. Looks wrong? Tell us.
Changes in the numbers
FY2025 against FY2024-
Revenue growth slowed to -1.9%+10.6% → -1.9% · Revenue FY2025 / revenue FY2024 − 1, against the same a year earlier · 10-K ↗
NVR against Consumer discretionary peers
Ten years, side by side → · All 47 →Each side 0 to 100, ranked against every company we cover: relative position on reported figures, not a buy score. How
Every dot is one of the 47 companies, the better end on the right. Hover a dot for the company.
| Company | Revenue (ttm) | Sales growth | Gross margin | Net margin | ROE | FCF margin | Debt / equity |
|---|---|---|---|---|---|---|---|
| NVR NVR, Inc. | $9.3B | -1.9% | - | 11.2% | 30.5% | 8.8% | - |
| NCLH Norwegian Cruise Line Holdings | $10.2B | +3.7% | 41.4% | 8.2% | 26.5% | -5.6% | 4.79 |
| YUM Yum! Brands | $8.8B | +8.8% | 67.4% | 39.1% | - | 18.4% | - |
| RL Ralph Lauren Corporation | $8.5B | +14.6% | 71.8% | 12.6% | 39.3% | - | 0.45 |
| TPR Tapestry, Inc. | $8.2B | +14.2% | 78.3% | 19.7% | - | 23.0% | 5.70 |
| WSM Williams-Sonoma, Inc. | $8.0B | +1.2% | 47.2% | 14.7% | 55.1% | 16.8% | - |
Profitability
3 of 3- ✓Net margin above the peer median11.2% vs 10.8%
- ✓Return on equity above 15%30.5%
- ✓A profit in every one of 10 years
Cash and shareholders
2 of 3- ✓Free cash flow positive in every one of 10 years$1.1B last year
- ✓Share count down over 5 years−21.6%
- !Cash from operations below net income$1.1B vs $1.3B
Each tick is a fact with a fixed rule (on /methodology), not a score or advice. A check without the numbers it needs is left out.
Revenue and net income, FY2016 to FY2025
Revenue 10.3B Net income 1.3BFrom XBRL in each 10-K. Hover a bar for the line item and filing. Full financials →
Where the $10.3B of revenue came from
by segment, year to Dec 31, 2025- Home Building $10.1B · 98%
- Mortgage Banking $229.7M · 2%
From the segment tables in the 10-K XBRL. Revenue by segment, product and region →
Income statement, balance sheet and cash flow
NVR's income statement, balance sheet and cash flow as reported to the SEC in XBRL, one column per fiscal year. Hover a number to see the line item and filing it comes from. Where a company changed how it tags a line, the first tag it reported for that period is used. A number looks wrong? Tell us.
Revenue by business segment
year to Dec 31, 2025| Revenue | Share | vs year before | |
|---|---|---|---|
| Home Building | 10.1B | 97.8% | -1.9% |
| Mortgage Banking | 229.7M | 2.2% | -1.0% |
10-K 0000906163-26-000018, segment and revenue notes (XBRL).
Income statement
From EDGAR| FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 5.8B | 6.3B | 7.2B | 7.4B | 7.5B | 9.0B | 10.5B | 9.5B | 10.5B | 10.3B |
| Interest expense | 21.7M | 24.2M | 25.1M | 25.4M | 40.9M | 53.1M | 39.5M | 27.7M | 27.8M | 29.9M |
| Pretax income | 661.7M | 846.9M | 959.7M | 1.0B | 1.1B | 1.6B | 2.3B | 1.9B | 2.1B | 1.8B |
| Income tax | 236.4M | 309.4M | 162.5M | 147.3M | 176.8M | 353.7M | 527.6M | 336.8M | 433.6M | 422.1M |
| Net income | 425.3M | 537.5M | 797.2M | 878.5M | 901.2M | 1.2B | 1.7B | 1.6B | 1.7B | 1.3B |
| EPS (diluted) | 103.61 | 126.77 | 194.80 | 221.13 | 230.11 | 320.48 | 491.82 | 463.31 | 506.69 | 436.55 |
| Diluted shares | 4.1M | 4.2M | 4.1M | 4.0M | 3.9M | 3.9M | 3.5M | 3.4M | 3.3M | 3.1M |
| Depreciation & amortization | 22.3M | 22.7M | 20.2M | 20.8M | 22.0M | 19.5M | 17.4M | 16.9M | 18.4M | 24.5M |
| Net margin | 7.3% | 8.5% | 11.1% | 11.9% | 12.0% | 13.8% | 16.4% | 16.7% | 16.0% | 13.0% |
| Revenue growth | - | +8.3% | +13.6% | +3.1% | +2.0% | +18.8% | +17.6% | -9.6% | +10.6% | -1.9% |
| EPS growth | - | +22.4% | +53.7% | +13.5% | +4.1% | +39.3% | +53.5% | -5.8% | +9.4% | -13.8% |
Balance sheet
From EDGAR| FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash | 416.0M | 689.6M | 732.2M | 1.2B | 2.8B | 2.6B | 2.6B | 3.2B | 2.7B | 2.0B |
| Total assets | 2.6B | 3.0B | 3.2B | 3.8B | 5.8B | 5.8B | 5.7B | 6.6B | 6.4B | 5.9B |
| Total liabilities | 1.3B | 1.4B | 1.4B | 1.5B | 2.7B | 2.8B | 2.2B | 2.2B | 2.2B | 2.0B |
| Shareholders' equity | 1.3B | 1.6B | 1.8B | 2.3B | 3.1B | 3.0B | 3.5B | 4.4B | 4.2B | 3.9B |
| Retained earnings | 5.7B | 6.2B | 7.0B | 7.9B | 8.8B | 10.0B | 11.8B | 13.4B | 15.0B | 16.4B |
Cash flow
From EDGAR| FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | 393.0M | 570.4M | 723.1M | 866.5M | 925.3M | 1.2B | 1.9B | 1.5B | 1.4B | 1.1B |
| Capital spending | 22.4M | 20.3M | 19.7M | 22.7M | 16.1M | 17.9M | 18.4M | 24.9M | 29.2M | 24.5M |
| Free cash flow | 370.6M | 550.1M | 703.5M | 843.8M | 909.1M | 1.2B | 1.9B | 1.5B | 1.3B | 1.1B |
| Stock-based pay (added back) | 43.6M | 44.6M | 75.7M | 78.5M | 50.8M | 58.2M | 82.5M | 99.5M | 73.9M | 69.2M |
| Buybacks | 455.4M | 422.2M | 846.1M | 698.4M | 371.1M | 1.5B | 1.5B | 1.1B | 2.1B | 1.8B |
| Debt raised | - | - | 0 | 0 | 923.9M | 0 | 0 | - | - | - |
| Debt repaid | - | - | - | - | 0 | 0 | 600.0M | 0 | 0 | - |
| Investing cash flow | -10.3M | -15.2M | -8.2M | -13.3M | -3.9M | -18.2M | -27.4M | -24.1M | -26.6M | -71.2M |
| Financing cash flow | -417.4M | -281.6M | -672.3M | -424.7M | 727.6M | -1.4B | -1.9B | -833.0M | -1.9B | -1.8B |
Stock-based pay and leases
From EDGAR| FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Stock-based pay (expense) | 43.6M | 44.6M | 75.7M | 78.5M | 50.8M | 58.2M | 82.5M | 99.5M | 73.9M | 69.2M |
| Stock-based pay / revenue | 0.7% | 0.7% | 1.1% | 1.1% | 0.7% | 0.7% | 0.8% | 1.0% | 0.7% | 0.7% |
| Operating lease cost | - | - | - | - | - | - | 34.5M | 37.3M | 39.2M | 43.1M |
| Operating lease cash paid | - | - | - | 25.3M | 28.0M | 27.8M | 28.8M | 29.0M | 31.4M | 32.9M |
| Finance lease principal paid | - | 0 | 0 | 306K | 989K | 1.4M | 1.5M | 1.7M | 2.6M | 4.7M |
| Right-of-use assets | - | - | 79.3M | - | - | - | - | - | - | - |
| Operating lease liabilities | - | - | 85.5M | 85.4M | 72.7M | 74.6M | 92.8M | 101.3M | 109.4M | 143.7M |
| Finance lease liabilities | - | - | - | 7.1M | 16.2M | 15.4M | 15.0M | 15.0M | 40.0M | 42.5M |
From SEC's XBRL company facts (data.sec.gov). EBITDA = operating income + depreciation and amortization; free cash flow = operating cash flow - capital spending; total debt = long-term debt (with its current part) + short-term borrowings. Stock-based pay and leases are shown as the company reports them; Tickdelta does not take them out of earnings or add leases to debt. Click a number to open the filing in SEC's Inline XBRL viewer, where you can click the same number to see how it is tagged. Values a company later revised show as revised; the Revised numbers tab lists the changes.