NVR, Inc.'s Stock Analysis

NVR Appoints George R. Oliver to Board of Directors

NVR, Inc. has appointed George R. Oliver as an independent director effective October 1, 2025. Mr. Oliver will serve on the Board until the 2026 Annual Meeting of Shareholders and is considered independent under New York Stock Exchange standards. He has a background as Chairman and CEO of Johnson Controls International and has held leadership positions at Tyco International and General Electric.

As part of his appointment, Mr. Oliver will receive a grant of 338 non-qualified stock options under the company's 2018 Equity Incentive Plan. NVR operates in homebuilding and mortgage banking, selling homes under various brand names across multiple states and Washington, D.C.

Oct 01, 2025 09:52:07

NVR Reports Decrease in Earnings for Second Quarter 2025

NVR, Inc. reported a net income of $333.7 million for the second quarter of 2025, translating to $108.54 per diluted share. This marks a 17% decrease in net income and a 10% decrease in diluted earnings per share compared to the same quarter in 2024. Consolidated revenues for the quarter were $2.60 billion, slightly down from $2.61 billion in the previous year. For the first half of 2025, net income totaled $633.3 million, a 20% decline year-over-year, while revenues increased by 1% to $5.00 billion. The gross profit margin also fell to 21.5%, impacted by higher lot costs and pricing pressures.

In the homebuilding segment, new orders decreased by 11% to 5,379 units, with a cancellation rate rising to 17% compared to 13% in the prior year. Settlements also saw a slight decline, down 3% to 5,475 units, while the average settlement price increased by 3% to $465,400. The backlog of homes sold but not settled dropped by 13% to 10,069 units, valued at $4.75 billion. In the mortgage banking segment, closed loan production increased by 2% to $1.56 billion, but income before tax fell by 34% to $29.6 million due to reduced secondary marketing gains.

Jul 23, 2025 10:44:31

NVR, Inc. Appoints New Independent Director to Board

NVR, Inc. has announced the appointment of Michael J. DeVito to its Board of Directors as an independent director, effective July 1, 2025. Mr. DeVito previously served as the Chief Executive Officer of Freddie Mac from 2021 to 2024 and has extensive experience in home lending, having worked for Wells Fargo for twenty-four years in various senior management roles.

NVR, Inc. operates in homebuilding and mortgage banking, selling and building homes under the Ryan Homes, NVHomes, and Heartland Homes brands across thirty-six metropolitan areas in sixteen states and Washington, D.C. The addition of Mr. DeVito to the board may influence the company's strategic direction in the housing and mortgage sectors.

Jul 01, 2025 11:50:23

NVR Reports Decrease in Net Income and New Orders

NVR, Inc. announced a net income of $299.6 million for the first quarter of 2025, translating to $94.83 per diluted share, marking a 24% decrease in net income and a 19% decrease in earnings per share compared to the same period in 2024. Consolidated revenues increased by 3% to $2.40 billion, while homebuilding revenues also rose by 3% to $2.35 billion. However, new orders fell by 12% to 5,345 units, and the cancellation rate increased to 16% from 13% in the previous year. The backlog of homes sold but not settled decreased by 9% on a unit basis and by 7% on a dollar basis to $4.84 billion as of March 31, 2025.

In the mortgage banking segment, closed loan production reached $1.43 billion, up 4% from the prior year, with income before tax increasing by 12% to $32.5 million. The effective tax rate for the quarter rose to 25.5% from 16.2% in the previous year, primarily due to a lower income tax benefit from stock option exercises. Overall, the homebuilding segment faced challenges with gross profit margins declining to 21.9%, affected by higher lot costs and pricing pressures.

Apr 22, 2025 13:10:52

NVR Reports $457.4 Million Net Income for Q4 2024

NVR, Inc. announced a net income of $457.4 million for the fourth quarter of 2024, marking a 12% increase from the previous year. Diluted earnings per share rose by 15% to $139.93, and consolidated revenues reached $2.85 billion, up 17% from $2.43 billion in Q4 2023. For the full year, net income was $1.68 billion, a 6% increase from $1.59 billion in 2023, with annual revenues totaling $10.52 billion, reflecting an 11% growth from $9.52 billion in the prior year. The mortgage banking segment also saw a notable increase in loan production and income before tax, rising 13% and 55%, respectively, in Q4 2024 compared to the same quarter the previous year. 

However, the company faced challenges in its homebuilding segment, with new orders decreasing by 8% to 4,794 units in Q4 2024 compared to 5,190 units in Q4 2023. The cancellation rate also increased to 17% from 13% year-over-year. While settlements rose by 16% to 6,180 units, the backlog of homes sold but not settled decreased by 3% in units. Additionally, the gross profit margin for both the fourth quarter and the full year saw a decline, indicating potential pressures in profitability despite overall revenue growth.

Jan 28, 2025 14:17:03

NVR, Inc. Reports Mixed Q3 Results with Revenue Growth

NVR, Inc. reported a slight decrease in net income for the third quarter of 2024, totaling $429.3 million, a 1% drop from the previous year. However, diluted earnings per share improved by 4%, reflecting a positive trend. The company's consolidated revenues rose by 6% to $2.73 billion, indicating strong overall performance. Homebuilding revenues also increased by 7%, and new orders surged by 19%, signaling a robust demand for homes despite a slight increase in the cancellation rate.

On the downside, the gross profit margin for homebuilding fell to 23.4% due to rising costs, and income from the mortgage banking segment decreased by 9%. Additionally, the effective tax rate increased, which could impact future profitability. Overall, while NVR, Inc. demonstrated solid revenue growth and a healthy increase in new orders, challenges in profit margins and mortgage banking performance may raise concerns among investors.

Oct 22, 2024 11:16:56

NVR, Inc. Reports Mixed Q2 Results with Revenue Growth

NVR, Inc. reported a slight decrease in net income but a 12% increase in consolidated revenues for Q2 2024. New home orders rose 3%, but cancellations increased to 13%. The mortgage banking segment saw an 11% rise in closed loans. The effective tax rate also increased significantly compared to the previous year. Overall, while revenue growth is positive, the rise in cancellations and tax rates could raise concerns.

Jul 23, 2024 10:08:20

NVR, Inc. Reports Strong First Quarter Results

NVR, Inc. announces a 14% increase in net income and a 17% rise in diluted earnings per share for the first quarter of 2024 compared to the same period in 2023. Homebuilding saw a 7% revenue increase with higher new orders and settlements, though gross profit margin slightly decreased. Mortgage banking segment also showed growth with a rise in closed loan production. The effective tax rate decreased, primarily due to higher income tax benefits. Overall, NVR, Inc. demonstrated positive financial performance in the first quarter of 2024.

Apr 23, 2024 09:41:44

NVR, Inc. Reports Decrease in Revenues and Net Income for Q4 2023

NVR, Inc. reported a decrease in net income and revenues for Q4 2023 compared to the same period in 2022. However, new orders in homebuilding segment increased, and the cancellation rate decreased. The backlog of homes sold but not settled also increased. The mortgage banking segment saw a decrease in closed loan production but an increase in income before tax. The effective tax rate decreased for both Q4 and the full year 2023 compared to 2022.

Jan 30, 2024 12:12:16

NVR, Inc. Announces Third Quarter Results

NVR, Inc. announced a 5% increase in net income and a 6% increase in diluted earnings per share for the third quarter of 2023 compared to the same period in 2022. However, consolidated revenues decreased by 7% in the third quarter and 9% for the nine months ended September 30, 2023. Homebuilding saw an increase in new orders and average sales price, but settlements and backlog decreased. Homebuilding revenues also decreased by 8% in the third quarter. Mortgage closed loan production decreased by 2%, but income before tax from the mortgage banking segment increased by 119%. The effective tax rate decreased in both periods due to higher income tax benefits from stock option exercises.

Oct 24, 2023 11:03:11