XStocksXray

Research report · 16 October 2026

Nvr Inc (NVR)

Consumer Discretionary · Homebuilding · US stock · price as of 16 Oct 2026

Key indicators

Price	$5,919.82
52-week range	$5,501.01 – $8,200.00
Market cap	$16.7B
P/E (trailing)	15.4×
EV / EBITDA	–
Free-cash-flow yield	6.3%
Dividend yield	–
Revenue (last 12 months)	$9.5B
Revenue growth (3y a year)	−0.6%
Operating margin	–
Return on invested capital	–
Net debt / EBITDA	–

Fair value

Blended fair value$8,195.47 book-value models

Versus priceFair+38% to fair value

Peer multiples	$8,195.47
Model uncertainty	High

X-Ray Score

26/ 100 · Low confidence · ahead of 0% of sector peers

Valuation49

Growth16

Profitability10

Financial health–

Dividends–

Five-year price chart navy: price · brown: 200-day average · blue band: fair value range

Executive summary

NVR is a homebuilder that builds and markets houses and townhomes under the Ryan Homes, NVHomes and Heartland Homes names, and it also runs a mortgage banking business. Its homes are built in the mid-Atlantic, North East, Midwest and Southeast regions of the United States. The company relies on controlling land through purchase options rather than owning large amounts of land outright. Its customers are first-time and move-up households.

NVR earns its revenue mostly from the homes it builds and delivers, with a smaller contribution from mortgage banking. Revenue was $9.5 billion over the last twelve months, and it has changed at -0.6% a year across the last three years, which is almost flat. No dividend is paid. Margin, return and net debt measures are not available on the site for this company.

StocksXray gives Nvr Inc an X-Ray Score of 26 out of 100 (low confidence), ahead of 0% of the S&P 500 stocks in its sector. Its strongest lens is valuation (49) and its weakest is profitability (10).

Our fair value blend is $8,195.47. At $5,919.82 the stock trades 28% below that blend, so the label is "Fair" with high model uncertainty. Fair value is a range, not a price target.

XStocksXray

Nvr Inc (NVR)

Valuation history multiples at each fiscal year-end price; the last column uses today's price and the last twelve months

	FY2021	FY2022	FY2023	FY2024	FY2025	Now
Price	$5,908.87	$4,612.58	$7,000.45	$8,178.90	$7,292.77	$5,919.82
Market cap	$22.8B	$16.2B	$24.0B	$27.1B	$22.4B	$16.7B
P/E	18.4×	9.4×	15.1×	16.1×	16.7×	15.4×
EV / revenue	2.3×	1.3×	2.2×	2.3×	2.0×	1.6×
EV / EBITDA	–	–	–	–	–	–
Price / free cash flow	18.6×	8.7×	16.3×	20.2×	20.4×	15.9×
Free-cash-flow yield	5.4%	11.4%	6.1%	5.0%	4.9%	6.3%
Price / book	7.6×	4.6×	5.5×	6.4×	5.8×	4.9×
Dividend yield	–	–	–	–	–	–

Fundamentals checklist ● 0 Good · ● 3 Average · ● 4 Bad · each check graded against the sector

Cash quality

Earnings backed by cash1.4%Bad

Free-cash-flow yield6.3%Average

Growth

EPS growth (3y)−3.9%Average

Free-cash-flow growth (3y)−16.0%Bad

Revenue growth (3y)−0.6%Bad

Growth consistency50%Bad

Valuation

Fair value vs price1.4×Average

XStocksXray

Nvr Inc (NVR)

Financials US$ millions, from SEC filings; last column is the last twelve months

Income statement	FY21	FY22	FY23	FY24	FY25	LTM
Revenue	8,951	10,526	9,518	10,524	10,324	9,530
Gross profit	–	–	–	–	–	–
Operating income	–	–	–	–	–	–
Net income	1,237	1,726	1,592	1,682	1,340	1,141
Diluted EPS ($)	320.48	491.82	463.31	506.69	436.55	384.81
Free cash flow	1,225	1,852	1,473	1,345	1,097	1,046
Gross margin	–	–	–	–	–	–
Operating margin	–	–	–	–	–	–
Net margin	13.8%	16.4%	16.7%	16.0%	13.0%	12.0%
Balance sheet	FY21	FY22	FY23	FY24	FY25	LTM
Total assets	5,834	5,661	6,602	6,381	5,857	5,471
Cash	2,637	2,575	3,215	2,665	1,957	1,197
Total debt	–	–	–	–	–	–
Equity	3,002	3,507	4,365	4,210	3,865	3,391
Dividend per share ($)	–	–	–	–	–	–

Revenue and net income US$ billions: navy revenue, teal net income

Margins blue gross, teal operating, brown net

Latest quarters

	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Revenue ($M)	2,403	2,599	2,610	2,713	1,881	2,326
Growth vs a year earlier	+3.0%	−0.5%	−4.5%	−4.7%	−21.7%	−10.5%
Net income ($M)	300	334	343	364	198	236
Diluted EPS ($)	94.83	108.54	112.33	–	67.76	83.96

XStocksXray

Nvr Inc (NVR)

Peers in Homebuilding

Company	X-Ray
NVR · Nvr Inc	26
DHI · Horton D R Inc	49
LEN · Lennar Corp	37
PHM · Pultegroup Inc	31

Market Compass outlook for Consumer Discretionary: Neutral (53/100). It blends regime history, macro sensitivity, momentum and valuation.

Returns

1 week	+0.4%
1 month	−5.2%
3 months	−8.2%
6 months	−15.4%
1 year	−22.6%
3 years	−4.2%
5 years	+22.4%

Technical summary

DailyBearish2 bullish · 4 neutral · 10 bearish

WeeklyStrongly bearish0 bullish · 1 neutral · 11 bearish

MonthlyStrongly bearish0 bullish · 1 neutral · 7 bearish

50-day / 200-day average	$6,200.53 / $6,614.38
52-week low / high	$5,501.01 / $8,200.00
Classic pivot, support and resistance	S2 5,728.20 · S1 5,824.01 · P – · R1 6,066.51 · R2 6,213.20

XStocksXray

Nvr Inc (NVR)

Strengths

No check stands out as a clear strength against its sector.

Risks and weak spots

Earnings backed by cash is weak against Consumer Discretionary peers (1.4%).
Free-cash-flow growth (3y) is weak against Consumer Discretionary peers (−16.0%).
Revenue growth (3y) is weak against Consumer Discretionary peers (−0.6%).
Growth consistency is weak against Consumer Discretionary peers (50%).

Latest SEC filings

Date	Form	Items
5 Aug 2026	10-Q
23 Jul 2026	8-K	2.02,9.01
15 May 2026	8-K	5.02,9.01
8 May 2026	8-K	5.07,9.01
6 May 2026	10-Q
22 Apr 2026	8-K	2.02,9.01
17 Mar 2026	DEF 14A
11 Feb 2026	10-K

How to read this report

Every number comes from SEC filings, end-of-day prices and the StocksXray models described on the methodology page. The X-Ray Score ranks each metric against the company's own sector. Fair value blends three models and carries a typical error of about 40%, so treat it as a range. Analyst ratings, price targets and earnings-call summaries are not part of this report. Educational research, not financial advice; read the disclaimer.