NVR NVR, Inc.
FY2025 10-K
NVR, Inc. (NVR) filed its fiscal year 2025 10-K annual report with the SEC on Feb 11, 2026. This page provides AI-powered analysis of the filing, including business overview, management discussion, risk factors, and key financial metrics from XBRL data.
AI Filing AnalysisFY2025 10-K
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
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
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
Financial SummaryXBRL
Revenue
$10.3B
Net Income
$1.3B
Net Margin
13.0%
ROE
34.7%
Total Assets
$5.9B
EPS (Diluted)
$436.55
Operating Cash Flow
$1.1B
Source: XBRL data from NVR, Inc. FY2025 10-K filing on SEC EDGAR. All figures in USD.
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