Every 10-Q that NVR, Inc. (NVR) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow NVR and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full NVR filings page.
NVR, Inc. reported weaker Q2 2026 results as housing affordability and weak sentiment weighed on demand and pricing. Consolidated revenues were $2,326,356, down 10% year over year, and net income was $236,458, with diluted EPS of $83.96, reflecting a 23% decline. Homebuilding revenues fell 11% and gross margin compressed to 19.2% from 21.5%, hurt by higher lot costs, pricing pressure and higher contract land deposit impairments of about $21,700 versus $13,200 a year earlier.
Operationally, new home orders rose 9% to 5,885 units, while the average new order price fell 5% to $437.1. Backlog increased to 10,998 units and $4,992,229, and the cancellation rate improved to 14.9% from 16.5%. Mortgage banking income before tax declined to $25,411 as loan closing volume dropped 13%. Liquidity remained strong with $1,093,736 of homebuilding cash, no borrowings under the $300,000 corporate revolver or $150,000 mortgage repurchase facility, and $900,000 of Senior Notes outstanding. NVR repurchased 144,896 shares for $989,733 in the first half of 2026, leaving 2,664,860 shares outstanding at July 31, 2026.
NVR, Inc. reported weaker results for the quarter ended March 31, 2026 as higher costs and softer pricing weighed on performance. Consolidated revenues were $1,881,063, down about 22% from the prior-year quarter, while net income fell to $198,359 and diluted EPS to $67.76 from $94.83.
Homebuilding revenue dropped to $1,834,879 as settlements declined 22%. The homebuilding gross margin narrowed to 19.6% from 21.9%, reflecting pricing pressure and higher lot costs. New orders rose 7% to 5,738 units, but the average new order price slipped 2% to $440.1 thousand, and backlog units were essentially flat at 10,171.
Mortgage banking income before tax decreased to $27,130 on lower loan volume, consistent with fewer home settlements. NVR ended the quarter with strong liquidity, including $1,729,687 of cash, restricted cash and equivalents, no borrowings on its $300,000 revolver or $150,000 mortgage repurchase facility, and $900,000 of 3.00% Senior Notes outstanding. The company continued aggressive share repurchases, buying 90,180 shares for $631,956, and controlled about 181,700 lots through a mix of lot purchase agreements, joint ventures and land under development.
NVR, Inc. filed its Q3 2025 report, showing softer activity amid affordability and demand headwinds. Consolidated revenue was $2,609,505 (down 5% year over year), and net income was $342,688 (down 20%), yielding diluted EPS of $112.33. Homebuilding gross margin fell to 21.0% from 23.4% as higher lot costs and pricing pressure weighed on profitability.
New orders decreased 16% to 4,735 units in the quarter, while the cancellation rate rose to 19.4%. Backlog stood at 9,165 units as of September 30, 2025, with an average backlog price of $479.5. Mortgage banking contributed income of $32,719 in Q3.
Operating cash flow for the nine months was $681,592, helped by mortgage loan sale activity and working-capital movements. The company repurchased 35,224 shares in Q3 and 178,178 shares year to date. Liquidity remained solid with homebuilding cash and cash equivalents of $1,932,167 and no borrowings under the $300,000 revolver; senior notes carried a book value of $909,654.
NVR, Inc. (NYSE: NVR) Q2-25 10-Q highlights
Revenue was essentially flat YoY at $2.60 bn, but net income fell 17 % to $333.7 mn, driving diluted EPS down to $108.54 (-10 %). Six-month revenue edged up 1 % to $5.00 bn, yet net income declined 20 % to $633.3 mn and diluted EPS to $203.20. Homebuilding gross margin compressed to 21.5 % from 23.6 % on higher lot costs, pricing pressure and $13.2 mn lot-deposit impairments.
Orders and backlog weakened: new orders dropped 11 % to 5,379 units, cancellation rate rose to 16.5 % (12.9 % LY) and backlog units fell 13 % to 10,069. Average selling prices were largely unchanged. Cash, restricted cash and equivalents declined to $1.83 bn (-31 % YTD) after $1.05 bn of share buybacks. Total debt remains modest with $900 mn 3.00 % senior notes due 2030; no revolver or repo borrowings were outstanding.
The company renewed its $300 mn unsecured revolver (matures 2030) and extended its $150 mn mortgage repurchase facility to 2026. Controlled lot position expanded to 171,400 lots (+9,000 YTD) but contract-land impairments rose to $76.4 mn. Effective tax rate increased to 25.4 % from 24.9 % due to lower stock-option tax benefits.
Outlook: Management cites affordability headwinds, higher inventory and economic volatility; expects continued margin pressure but believes strong liquidity and conservative land strategy provide flexibility.