NVR at a glance
NVR, Inc. (NVR, SEC CIK 906163) filed its latest 10-K annual report on February 11, 2026, a 10-Q quarterly report on August 5, 2026, an 8-K current report on July 23, 2026 and Form 4 insider filings as recently as August 11, 2026. SignalX summarizes each filing with AI and tracks the company's insider trades and institutional holders.
- For the fiscal year ended December 31, 2025 (FY2025), NVR, Inc. (NVR) reported revenue of $10.3 billion (down 1.9% from FY2024) and net income of $1.3 billion. Diluted EPS was $436.55.
- As of June 30, 2026, 42 institutional investment managers tracked by SignalX reported holding NVR, Inc. (NVR) shares worth $7.6 billion in 13F-HR filings.
- The most recent insider open-market purchase reported on Form 4 was by Oliver George on August 7, 2026 of 63 shares at $6431.51 per share.
- In the last 90 days, NVR insiders reported 1 open-market purchase ($405K) and 0 open-market sales ($0) on Form 4, a net purchase of $405K.
Source: SEC EDGAR (XBRL financial data, 13F-HR and Form 4 filings).
- Revenue · FY2025
- $10.3B
- −1.9% vs prior year
- Insiders · 90 days
- 1 buy · 0 sells
- Net +$405K
- 13F holders
- 42 funds
- $7.6B · +1 vs prior quarter
- Latest 8-K
- Jul 23, 2026
- Item 2.02
AI 10-K Annual Report Analysis
Latest 10-K, fiscal year ended Dec 31, 2025
Business Overview
- Core business: construction and sale of single-family detached homes, townhomes, condominiums on primarily pre-sold basis
- Continued reliance on fixed price lot purchase agreements (LPAs) with forfeitable deposits, avoiding direct land ownership and developmental risk
- Emphasis on market leadership in 37 metropolitan areas across 16 states and D.C. with three distinct trade brands targeting different buyer demographics
- Strategic flexibility to engage in joint ventures or direct land development in limited cases, deviating from historical lot acquisition strategy
- Focus on maintaining lot inventory to support five-year business plan, minimizing financial risk related to land acquisitions
Risk Factors
- Regulatory risk: Increased contract land deposit impairment allowance due to economic challenges, impacting reserve adequacy for potential losses on land deposits
- Macroeconomic threat: 13-17% New Order cancellations and 3-16% decrease in average active communities in key regions, highlighting demand weakness and affordability pressure
- Operational risk: Higher lot costs and material cost increases causing gross margin declines to as low as 18.3% in South East segment in 2025
- Competitive risk: Mortgage banking segment exposure to tightening credit markets and increased mortgage lending regulation affecting loan closing volume and fees
- Financial risk: $900 million Senior Notes maturing in 2030 with $27 million interest due within 12 months, and $733.9 million due on land purchase commitments within 3 years
Management Discussion & Analysis
- Revenue $10.3B in 2025, down 2% from $10.5B in 2024 due to 4% fewer units settled
- Gross margin 21.2% in 2025 vs 23.7% in 2024, impacted by higher lot costs and $75.9M land deposit impairments
- Mid Atlantic segment strongest, no segment-specific data but overall unit settlements down 4% to 21,915 units
- Net income $1.34B in 2025, down 20% YoY; mortgage banking income $152M, down 2%
- Backlog down 16% to $4.01B with 8,448 units, new orders down 10% at 20,410 units, cancellation rate up to 17%
- Cash deposits for lots $920.1M with additional $42.3M for raw land; no direct disclosure of buybacks/dividends/capex
- Guidance: Expect continued demand weakness, margin pressure, revenue decline in Q1 2026, but confident due to strong balance sheet and disciplined lot acquisition strategy
AI summary of the NVR 10-K filed . Generated from the filing text; verify against the original.View on SEC EDGARHow to read a 10-K
AI 10-Q Quarterly Report Analysis
Latest 10-Q, quarter ended Jun 30, 2026
Management Discussion & Analysis
- Revenue $2,326,356, down 10% YoY; net income $236,458, down 29%
- Homebuilding gross margin 19.2% vs 21.5% YoY; SG&A 6.6% vs 5.9%
- Best segment North East: 22.0% gross margin and $38,933 segment profit
- Worst segment Mid Atlantic: revenue $879,532, down 22%; segment profit $105,550, down 45%
- Outlook: affordability, inventory, sentiment and volatility pressuring demand; higher land costs expected to pressure margins
Risk Factors
- No Risk Factors section provided; quarter-over-quarter changes cannot be assessed
- New $750 million repurchase authorization announced May 8, 2026
- Share repurchases totaled 54,716 shares at average $6,538.80
- Mortgage-finance funding exposure evidenced by Fifth Amendment to Master Repurchase Agreement
- No director or officer adopted or terminated a Rule 10b5-1 arrangement
AI summary of the NVR 10-Q filed . Generated from the filing text; verify against the original.View on SEC EDGAR10-K vs 10-Q vs 8-K
AI 8-K Current Report Analysis
The most recent material events, by 8-K item
Item 2.02: Results of Operations and Financial Condition
- NVR reported financial results for the quarter and year-to-date periods ended June 30, 2026
- Detailed operating results and management commentary are in Exhibit 99.1
Item EX-99.1: Item EX-99.1
- Q2 net income fell 29% to $236.5M and diluted EPS 23% to $83.96, reflecting materially weaker profitability
- Revenue declined 10% to $2.33B, while homebuilding revenue fell 11% to $2.28B
Item 5.02: Departure/Appointment of Directors or Principal Officers
- Executive option grants: Saville 5,238; Bredow 5,238; Malzahn 2,670; Kelpy 544
- Exercise price $5,720.10 per share, matching the prior-day closing price
Item 5.07: Submission of Matters to a Vote of Security Holders
- All 11 director nominees elected to one-year terms, maintaining board continuity
- KPMG LLP auditor appointment ratified for year ending December 31, 2026, with 2,408,041 votes for
AI summaries of NVR 8-K current reports filed with the SEC. What 8-K item codes mean
SignalX for NVR
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- Fund moves. Which tracked funds opened, added or cut NVR, by share count.
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Recent Insider Transactions (Form 4)
Latest reported trades by officers, directors and 10% owners
| Insider | Type | Date | Shares | Price |
|---|---|---|---|---|
| Oliver George | Buy | Aug 7, 2026 | 63 | $6431.51 |
| Martinez Melquiades R. | G | Jul 30, 2026 | 29 | - |
| Ross Susan Williamson | M | May 29, 2026 | 238 | $1700.00 |
| Ross Susan Williamson | M | May 29, 2026 | 238 | - |
| DeVito Michael J | A | May 14, 2026 | 154 | - |
| Bredow Eugene James | I | May 14, 2026 | 60 | $5776.15 |
| Oliver George | A | May 14, 2026 | 154 | - |
| Bredow Eugene James | I | May 6, 2026 | 80 | $6262.53 |
Financial SummaryXBRL
| Metric | FY2023 | FY2024 | FY2025 |
|---|---|---|---|
| Profitability | |||
| Revenue | $9.5B | $10.5B | $10.3B |
| Net Income | $1.6B | $1.7B | $1.3B |
| Net Margin | 16.7% | 16.0% | 13.0% |
| Balance Sheet | |||
| Total Assets | $6.6B | $6.4B | $5.9B |
| Equity | $4.4B | $4.2B | $3.9B |
| ROE | 36.5% | 40.0% | 34.7% |
| Per Share | |||
| EPS | - | $506.69 | $436.55 |
| Cash Flow | |||
| Operating CF | $1.5B | $1.4B | $1.1B |
| CapEx | $24.9M | $29.2M | $24.5M |
Source: XBRL data in NVR, Inc. (NVR)'s 10-K filings on SEC EDGAR, in USD. Compare across companies →
13F Fund Holdings: Quarterly Trend
Latest: Q2 2026Aggregate NVR share value held by 13F filers tracked by SignalX, by quarter.
Quarterly totals table
| Quarter | Funds | Total value |
|---|---|---|
| Q2 2026 | 42 | $7.58B |
| Q1 2026 | 41 | $6.94B |
| Q4 2025 | 39 | $8.13B |
| Q3 2025 | 39 | $9.78B |
| Q2 2025 | 39 | $8.58B |
| Q1 2025 | 33 | $6.03B |
| Q4 2024 | 30 | $6.29B |
| Q3 2024 | 24 | $3.56B |
- AQR Capital Management+40.2K (+454%)
- Goldman Sachs Group+12.8K (+72%)
- BlackRock+12.2K (+4%)
- Citadel Advisors LLC+6.1K (+261%)
- Bank of America Corp+4.1K (+30%)
- Vanguard Portfolio Management LLC−6.1K (-5%)
- Millennium Management−5.9K (-60%)
- Ameriprise Financial−3.3K (-43%)
- FMR LLC (Fidelity)−2.8K (-33%)
- Vanguard Capital Management LLC−2.7K (-2%)
Source: 13F-HR filings on SEC EDGAR (aggregated from 287 fund-quarter rows). Reflects only 13F filers tracked by SignalX, not the full institutional ownership universe. How 13F filings work
NVR filing archive
AI analysis pages for each 10-K, 10-Q and 8-K
10-K annual reports
10-Q quarterly reports
8-K current reports
Latest 2026 SEC Filings: 10-K, 10-Q, 8-K & Form 4
| Form | Filing date | Period | Analysis | SEC |
|---|---|---|---|---|
| 4 | Aug 11, 2026 | - | - | - |
| 10-Q | Aug 5, 2026 | Jun 30, 2026 | Analysis | |
| 4 | Jul 31, 2026 | - | - | - |
| 8-K | Jul 23, 2026 | - | Analysis | - |
| 4 | May 29, 2026 | - | - | |
| 4 | May 18, 2026 | - | - | |
| 4 | May 18, 2026 | - | - | |
| 4 | May 15, 2026 | - | - | |
| 8-K | May 15, 2026 | - | Analysis | |
| SC 13G | May 14, 2026 | - | - | |
| 8-K | May 8, 2026 | - | Analysis | |
| 4 | May 7, 2026 | - | - | |
| 10-Q | May 6, 2026 | Mar 31, 2026 | Analysis | |
| SC 13G | Apr 30, 2026 | - | - | |
| 4 | Apr 27, 2026 | - | - | - |
| 8-K | Apr 22, 2026 | - | Analysis | - |
| 4 | Feb 17, 2026 | - | - | |
| 4 | Feb 11, 2026 | - | - | |
| 10-K | Feb 11, 2026 | Dec 31, 2025 | Analysis | |
| 4 | Feb 6, 2026 | - | - | |
| 4 | Feb 5, 2026 | - | - | |
| 8-K | Jan 28, 2026 | - | - | |
| 4 | Dec 19, 2025 | - | - | |
| 4 | Dec 17, 2025 | - | - | |
| 4 | Dec 16, 2025 | - | - |
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NVR SEC filings: frequently asked questions
Are NVR insiders buying or selling?
In the last 90 days, NVR, Inc. (NVR) officers, directors and 10% owners reported 1 open-market purchase worth $405,185 by 1 insider and no open-market sales on Form 4. Many insider sales are pre-planned or for taxes, so purchases usually carry more information.
Which institutions hold NVR stock?
As of June 30, 2026, the largest NVR, Inc. (NVR) holders among the 13F filers tracked by SignalX were BlackRock ($2.0 billion), Vanguard Capital Management LLC ($1.2 billion), State Street Corp ($877.3 million), Vanguard Portfolio Management LLC ($771.2 million), Principal Financial Group ($398.8 million). 13F-HR reports are filed up to 45 days after each quarter ends.
What was NVR's revenue in fiscal year 2025?
For the fiscal year ended December 31, 2025 (FY2025), NVR, Inc. (NVR) reported revenue of $10.3 billion (down 1.9% from FY2024) and net income of $1.3 billion. Diluted EPS was $436.55. The figures come from the XBRL data in the 10-K.
What are the main risks in NVR's latest 10-K?
In the 10-K filed February 11, 2026, NVR, Inc. (NVR) flagged: Regulatory risk: Increased contract land deposit impairment allowance due to economic challenges, impacting reserve adequacy for potential losses on land deposits. Macroeconomic threat: 13-17% New Order cancellations and 3-16% decrease in average active communities in key regions, highlighting demand weakness and affordability pressure. (AI summary of the Risk Factors section.)
What did NVR report in its latest 8-K?
NVR, Inc. (NVR) filed an 8-K on July 23, 2026 reporting Item 2.02 (Results of Operations and Financial Condition). NVR reported financial results for the quarter and year-to-date periods ended June 30, 2026.
What are the latest NVR SEC filings?
NVR, Inc. (NVR) filed its latest 10-K annual report on February 11, 2026, a 10-Q quarterly report on August 5, 2026, an 8-K current report on July 23, 2026 and a Form 4 insider filing on August 11, 2026.
What is NVR's SEC CIK number?
NVR, Inc. (NVR)'s SEC Central Index Key (CIK) is 906163. EDGAR lists every NVR filing under that number.
Ask anything about NVR
The research agent reads NVR's filings, financials, insider trades and 13F holders, then answers with sources.