/NVRFinancial History
Annual Financials
| Fiscal Year | Revenue | Gross Profit | Gross Margin | Net Income | EPS (Diluted) | Total Assets | Total Equity |
|---|---|---|---|---|---|---|---|
| FY2025 | $10.1B | $2.1B | 21.2% | $1.3B | $436.55 | $5.9B | $3.9B |
| FY2024 | $10.3B | $2.4B | 23.7% | $1.7B | $506.69 | $6.4B | $4.2B |
| FY2023 | $9.3B | $2.3B | 24.3% | $1.6B | $463.31 | $6.6B | $4.4B |
| FY2022 | $10.3B | $2.7B | 25.8% | $1.7B | $491.82 | $5.7B | $3.5B |
| FY2021 | $8.7B | $1.9B | 22.3% | $1.2B | $320.48 | $5.8B | $3.0B |
| FY2020 | $7.3B | $1.4B | 19.0% | $901M | $230.11 | $5.8B | $3.1B |
| FY2019 | $7.2B | $1.4B | 19.0% | $879M | $221.13 | $3.8B | $2.3B |
| FY2018 | $7.2B | $1.3B | 18.7% | $797M | $194.80 | $3.2B | $1.8B |
| FY2017 | $6.2B | $1.2B | 19.2% | $538M | $126.77 | $3.0B | $1.6B |
| FY2016 | $5.7B | $999M | 17.5% | $425M | $103.61 | $2.6B | $1.3B |
| FY2015 | $5.1B | $947M | 18.7% | $383M | $89.99 | $2.5B | $1.2B |
| FY2014 | $4.4B | $805M | 18.4% | $282M | $63.50 | $2.4B | $1.1B |
Builder Operating KPIsExtracted from earnings releases
| Period | Orders | Closings | Cancel % | Backlog | Backlog $ | ASP | Communities | Lots Owned | Lots Ctrl | Inventory | Specs |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Q4 FY2025 | 4,951 | 5,668 | 16.6% | 8,448 | $4.0B | $454K | 450 | — | 180,100 | — | — |
| Q3 FY2025 | 4,735 | 5,639 | 19.4% | 9,165 | $4.4B | $465K | 450 | — | 175,300 | — | — |
| Q2 FY2025 | 5,379 | 5,475 | 16.5% | 10,069 | $4.8B | $458K | 426 | — | 171,400 | — | — |
| Q1 FY2025 | 5,345 | 5,133 | 16.0% | 10,165 | $4.8B | $449K | 401 | — | 167,600 | — | — |
| Q4 FY2024 | 4,794 | 6,180 | 16.9% | 9,953 | $4.8B | $469K | 426 | — | 162,400 | — | — |
| Q3 FY2024 | 5,650 | 5,908 | 14.5% | 11,339 | $5.3B | $451K | 422 | — | 151,800 | — | — |
| Q2 FY2024 | 6,067 | 5,659 | 12.9% | 11,597 | $5.5B | $459K | 433 | — | 149,700 | — | — |
| Q1 FY2024 | 6,049 | 5,089 | 13.0% | 11,189 | $5.2B | $454K | 427 | — | 143,200 | — | — |
| Q4 FY2023 | 5,190 | 5,332 | 13.0% | 10,229 | $4.8B | $451K | 438 | — | 141,500 | — | — |
| Q3 FY2023 | 4,746 | 5,606 | 13.6% | 10,371 | $4.8B | $456K | 431 | — | 133,900 | — | — |
| Q2 FY2023 | 5,905 | 5,085 | 10.9% | 11,231 | $5.2B | $447K | 426 | — | 130,400 | — | — |
| Q1 FY2023 | 5,888 | 4,639 | 14.0% | 10,411 | $4.8B | $441K | 413 | — | 129,900 | — | — |
| Q4 FY2022 | 4,153 | 5,749 | 18.4% | 9,162 | $4.3B | $459K | 428 | — | 131,900 | — | — |
| Q3 FY2022 | 4,421 | 5,949 | 15.0% | 10,758 | $5.1B | $453K | 423 | — | 131,400 | — | — |
| Q2 FY2022 | 4,663 | 5,820 | 14.3% | 12,286 | $5.8B | $472K | 406 | — | 133,200 | — | — |
| Q1 FY2022 | 5,927 | 5,214 | 10.0% | 13,443 | $6.2B | $466K | 404 | — | 126,800 | — | — |
| Q4 FY2021 | 5,685 | 5,100 | 10.0% | 12,730 | $5.8B | $455K | 418 | — | 124,900 | — | — |
| Q3 FY2021 | 5,201 | 5,683 | 9.2% | 12,145 | $5.4B | $442K | 414 | — | 118,600 | — | — |
| Q2 FY2021 | 5,521 | 5,685 | 8.3% | 12,627 | $5.4B | $440K | 420 | — | 114,100 | — | — |
| Q1 FY2021 | 6,314 | 5,072 | 10.0% | 12,791 | $5.2B | $411K | 445 | — | 108,700 | — | — |
Source: SEC 8-K earnings releases, extracted via regex with provenance tracking. Showing most recent 20 quarters.
Management Sentiment Analysis
Scored from earnings release language using ML analysis. Range: -1.0 (negative) to +1.0 (positive).
Current Posture
Q4 FY2025
Score: -0.15
New orders increased slightly in Q4 but declined 10% for the year; backlog and settlements also decreased, indicating softening demand.
Gross profit margins declined notably due to higher lot costs, pricing pressure from affordability challenges, and contract land deposit impairments.
No explicit commentary on labor availability or wage pressures; stable workforce conditions implied by lack of mention.
Higher lot costs and contract land deposit impairments negatively impacted margins; lot supply increased but at elevated costs.
Management reported decreased earnings and revenues with no indication of raised guidance or strong optimism, reflecting cautious outlook.
Affordability challenges, pricing pressure, and contract land deposit impairments highlight ongoing headwinds and market uncertainties.
Recent Trend
Sentiment for NVR, Inc. throughout FY2025 remained cautiously negative, driven primarily by sustained weakness in buyer demand and margin contraction. While labor conditions held steady with no notable changes, persistent affordability challenges and rising lot costs exerted downward pressure on gross margins and confidence levels. Despite modest increases in lot supply, the overall trajectory reflects ongoing market softness and heightened risk, with management maintaining a guarded outlook amid declining orders, revenue, and earnings.
Builder vs. Industry Sentiment
Orange = NVR · Gray = Industry average (Q1 FY2026)