NVR, Inc.'s Stock Analysis

NVR Grants Stock Options to Executive Officers in 2026

On May 14, 2026, NVR, Inc. approved the grant of non-qualified stock options to its executive officers. Each officer received two awards, with one being time-based, vesting fully on December 31, 2028, contingent on continued employment, and the other performance-based, dependent on the company's return on capital from 2026 to 2028.

The exercise price for the options is set at $5,720.10 per share, reflecting the closing price of NVR's common stock on the day before the grant date. These options are part of the NVR, Inc. 2018 Equity Incentive Plan, which aims to align executive compensation with company performance.

May 15, 2026 17:07:04

NVR Annual Meeting Results and Shareholder Proposals Overview

NVR, Inc. held its Annual Meeting of Shareholders on May 7, 2026, where 2,778,119 shares were eligible to vote. The shareholders elected all directors for one-year terms and ratified the appointment of KPMG LLP as the Independent Auditor for the year ending December 31, 2026. They also approved the compensation of NVR’s named executive officers in a non-binding advisory vote.

A shareholder proposal aimed at reducing the ownership threshold required to call a special meeting was not voted upon due to improper presentation by the proponent. Additionally, shareholders did not approve a proposal to disclose greenhouse gas emissions.

May 08, 2026 11:37:56

NVR Reports First Quarter 2026 Financial Results and Trends

NVR, Inc. reported a net income of $198.4 million, or $67.76 per diluted share, for the first quarter ended March 31, 2026. This represents a decrease of 34% in net income and a 29% decrease in diluted earnings per share compared to the same period in 2025. Consolidated revenues also fell by 22% to $1.88 billion. Notably, new orders increased by 7% to 5,738 units, although the average sales price of these new orders decreased by 2% to $440,100. The cancellation rate improved slightly from 16% to 14%, while settlements decreased by 22% to 4,015 units, primarily due to a lower backlog of homes sold but not settled entering the quarter.

In the homebuilding segment, revenues decreased by 22% to $1.83 billion, with a gross profit margin declining to 19.6% from 21.9% in the previous year, impacted by pricing pressure and higher lot costs. Income before tax from this segment was down 39% to $224.6 million. The mortgage banking segment also saw a decrease in closed loan production, totaling $1.05 billion, a 27% decline from the first quarter of 2025, with income before tax dropping to $27.1 million. The effective tax rate for the quarter was 21.2%, down from 25.5% in the previous year, mainly due to a higher income tax benefit from stock option exercises.

Apr 22, 2026 14:04:11

NVR Reports Decrease in Earnings and Revenue for 2025

NVR, Inc. reported a net income of $363.8 million for the fourth quarter of 2025, reflecting a 20% decrease from the previous year. The diluted earnings per share decreased by 13% to $121.54, while consolidated revenues for the quarter totaled $2.71 billion, down from $2.85 billion in the fourth quarter of 2024. For the full year, net income was $1.34 billion, a 20% drop compared to 2024, with diluted earnings per share at $436.55, down 14%. Consolidated revenues for the year decreased by 2% to $10.32 billion from $10.52 billion in 2024.

In the homebuilding segment, new orders increased by 3% to 4,951 units in the fourth quarter, but the average sales price decreased by 3% to $454,200. Settlements also declined by 8% to 5,668 units. The backlog of homes sold but not settled decreased by 15% to 8,448 units. The mortgage banking segment saw a decrease in closed loan production by 11% to $1.51 billion in the fourth quarter, although income before tax increased by 24% to $57.2 million. The effective tax rate rose to 22.4% for the fourth quarter, compared to 20.1% in the previous year.

Jan 28, 2026 13:47:49

NVR Reports Decreased Earnings and Revenue for Q3 2025

NVR, Inc. announced its financial results for the third quarter of 2025, reporting a net income of $342.7 million, or $112.33 per diluted share. This reflects a decrease of 20% in net income and a 14% drop in diluted earnings per share compared to the same period in 2024. Consolidated revenues for the quarter totaled $2.61 billion, down from $2.73 billion in the previous year. For the first nine months of 2025, net income was $976.0 million, also representing a 20% decrease year-over-year, with diluted earnings per share at $315.33, down 14% from 2024.

In the homebuilding segment, new orders fell by 16% to 4,735 units, while the cancellation rate increased to 19% compared to 15% in the prior year. Homebuilding revenues decreased by 4% to $2.56 billion, with the gross profit margin declining to 21.0% due to higher lot costs and pricing pressures. The mortgage banking segment reported a closed loan production of $1.54 billion, a 7% decrease from the previous year, with income before tax down to $32.7 million. The effective tax rate for the quarter was 22.8%, up from 20.3% in the same quarter of 2024.

Oct 22, 2025 09:30:10

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