NVR financial statements
The full income statement, balance sheet, and cash-flow statement for NVR Inc. (NVR), plus valuation ratios — straight from SEC filings. Switch between annual, quarterly, and trailing-twelve-month figures, pick how far back to look, and flip the time order. Every line has a trend sparkline.
Shares outstanding (point-in-time)
SEC-filed end-of-period counts (cover pages and balance sheets, split-adjusted) — the series realized buyback yield is computed from. The weighted-average share lines in the statements below lag these by design: an average over the year sits near the midpoint of an ongoing buyback.
| Line item | Trend | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Income Statement | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| Revenue | 10.3B-1.9% | 10.5B+10.6% | 9.52B-9.6% | 10.5B+17.6% | 8.95B+18.8% | |
| Interest expense | — | 27.8M+0.2% | 27.7M-29.8% | 39.5M-25.6% | 53.1M+30.0% | |
| Income tax | 422M-2.6% | 434M+28.7% | 337M-36.2% | 528M+49.2% | 354M+100.1% | |
| Net income | 1.34B-20.3% | 1.68B+5.7% | 1.59B-7.8% | 1.73B+39.5% | 1.24B+37.2% | |
| $436.55-13.8% | $506.69+9.4% | $463.31-5.8% | $491.82+53.5% | $320.48+39.3% | ||
| EPS (basic) | $462.00-14.6% | $540.88+10.0% | $491.52-6.4% | $525.20+52.1% | $345.37+41.5% | |
| Weighted-avg shares (basic) | 2.90M-6.7% | 3.11M-4.0% | 3.24M-1.4% | 3.29M-8.2% | 3.58M-3.0% | |
| Weighted-avg shares (diluted) | 3.07M-7.5% | 3.32M-3.4% | 3.44M-2.1% | 3.51M-9.1% | 3.86M-1.5% | |
| Balance Sheet | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| Cash & equivalents | 1.96B-26.6% | 2.66B-17.1% | 3.22B+24.9% | 2.57B-2.4% | 2.64B-6.1% | |
| Total assets | 5.86B-8.2% | 6.38B-3.3% | 6.60B+16.6% | 5.66B-3.0% | 5.83B+1.0% | |
| 1.99B-8.2% | 2.17B-3.0% | 2.24B+3.8% | 2.15B-23.9% | 2.83B+5.9% | ||
| Operating lease liability (total) | 144M+31.4% | 109M+8.0% | 101M+9.1% | 92.8M+24.4% | 74.6M+2.6% | |
| Finance lease liability (total) | 42.5M+6.1% | 40.0M+167.5% | 15.0M-0.2% | 15.0M-2.7% | 15.4M-4.7% | |
| 3.86B-8.2% | 4.21B-3.5% | 4.36B+24.5% | 3.51B+16.8% | 3.00B-3.2% | ||
| Common stock | 206K+0.0% | 206K+0.0% | 206K+0.0% | 206K+0.0% | 206K+0.0% | |
| Additional paid-in capital | 3.16B+4.1% | 3.03B+6.4% | 2.85B+9.6% | 2.60B+9.3% | 2.38B+7.4% | |
| Retained earnings | 16.4B+8.9% | 15.0B+12.6% | 13.4B+13.5% | 11.8B+17.2% | 10.0B+14.0% | |
| Treasury stock | 15.7B+13.0% | 13.9B+17.0% | 11.8B+9.0% | 10.9B+15.3% | 9.42B+18.9% | |
| Total liabilities & equity | 5.86B-8.2% | 6.38B-3.3% | 6.60B+16.6% | 5.66B-3.0% | 5.83B+1.0% | |
| Common shares issued | 20.6M+0.0% | 20.6M+0.0% | 20.6M+0.0% | 20.6M+0.0% | 20.6M+0.0% | |
| Common shares outstanding | 2.80M-7.0% | 3.01M-5.7% | 3.19M-0.7% | 3.22M-6.6% | 3.45M-6.7% | |
| Shares outstanding (cover) | 2.79M-6.6% | 2.99M-6.1% | 3.19M-1.9% | 3.25M-3.9% | 3.38M-8.1% | |
| Cash Flow | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| 1.12B-18.4% | 1.37B-8.2% | 1.50B-19.9% | 1.87B+50.5% | 1.24B+34.3% | ||
| Depreciation & amortization | 24.5M+33.4% | 18.4M+8.6% | 16.9M-2.8% | 17.4M-10.6% | 19.5M-11.5% | |
| Share-based compensation | 69.2M-6.4% | 73.9M-25.7% | 99.5M+20.6% | 82.5M+41.7% | 58.2M+14.6% | |
| Deferred income taxes | -1.44M-124.9% | 5.79M+254.8% | -3.74M+66.3% | -11.1M-4644.0% | -234K+98.7% | |
| Change in inventory | -335M-408.7% | 109M-32.9% | 162M+201.7% | -159M-166.8% | 238M-34.2% | |
| Other operating activities | -9.53M+9.4% | -10.5M+52.6% | -22.2M-184.4% | 26.3M+180.4% | -32.7M-75.4% | |
| -71.2M-168.2% | -26.6M-10.2% | -24.1M+12.1% | -27.4M-50.9% | -18.2M-362.2% | ||
| Capital expenditure | 24.5M-16.1% | 29.2M+17.4% | 24.9M+35.0% | 18.4M+3.1% | 17.9M+10.9% | |
| Free cash flow | 1.10B-18.5% | 1.35B-8.7% | 1.47B-20.4% | 1.85B+51.2% | 1.22B+34.7% | |
| Acquisitions | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Proceeds from sale of PP&E | 914K-70.0% | 3.04M+28.3% | 2.37M+224.2% | 732K-25.2% | 978K-1.8% | |
| -1.76B+7.4% | -1.90B-127.9% | -833M+56.3% | -1.91B-36.4% | -1.40B-292.0% | ||
| Long-term debt issued | 0.00 | 0.00 | 0.00 | 0.00 | 0.00-100.0% | |
| Long-term debt repaid | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Common stock issued | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Common stock repurchased | 1.83B-10.9% | 2.06B+90.2% | 1.08B-27.9% | 1.50B-2.4% | 1.54B+314.5% | |
| Dividends paid | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Net change in cash | -708M-28.5% | -551M-185.9% | 641M+1126.0% | -62.5M+63.9% | -173M-110.5% | |
| Interest paid | 29.9M+2.4% | 29.2M+0.0% | 29.2M-38.5% | 47.5M-11.5% | 53.7M+45.8% | |
| Income taxes paid | 439M+7.1% | 410M+0.7% | 407M-23.1% | 530M+36.1% | 389M+138.8% | |
| Valuation Ratios | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| Market cap | 20.4B-16.7% | 24.5B+9.9% | 22.3B+51.0% | 14.7B-26.2% | 20.0B+33.1% | |
| P/E | 15.2×+4.6% | 14.5×+6.9% | 13.6×+48.1% | 9.2×-43.2% | 16.2×-3.0% | |
| P/S | 2.0×-15.1% | 2.3×+2.3% | 2.3×+54.8% | 1.5×-34.3% | 2.2×+12.1% | |
| P/B | 5.3×-9.3% | 5.8×+8.9% | 5.3×+11.6% | 4.8×-28.2% | 6.7×+37.6% | |
| P/FCF | 18.6×+2.2% | 18.2×+46.6% | 12.4×+9.0% | 11.4×-30.3% | 16.3×-1.2% | |
| Earnings yield | 6.6%-4.4% | 6.9%-6.5% | 7.4%-32.5% | 10.9%+76.0% | 6.2%+3.1% | |
| FCF yield | 5.4%-2.1% | 5.5%-31.8% | 8.1%-8.2% | 8.8%+43.4% | 6.1%+1.2% | |
| Source filing | 10-K | 10-K | 10-K | 10-K | 10-K |
About this data
Source: NVR’s SEC filings (10-K / 10-Q). Annual columns are as-reported fiscal years; quarterly columns are as-reported fiscal quarters (Q4 derived as full-year minus the first three quarters where a company doesn’t file a standalone Q4); TTM (quarterly) rolls the trailing four quarters at every quarter end, TTM (yearly) samples that one year apart; balance-sheet rows show the period-end balance. Valuation ratios are sampled as of each period end. View all NVR filings on SEC EDGAR → Not investment advice.