Short answer
NVR, Inc. (NVR) filed its Q1 2025 10-Q quarterly report on May 5, 2025 for the quarter ended Mar 31, 2025. Quarterly revenue was $2.4B (up 3.0% year over year) with net income of $300M.
Q1 2025 key financials · XBRL
- Revenue
- $2.4B
- +3.0% YoY
- Net income
- $300M
- −24.0% YoY
- EPS (diluted)
- $94.83
- −18.5% YoY
Source: XBRL data from the NVR, Inc. (NVR) Q1 2025 10-Q on SEC EDGAR. USD.
NVR, Inc. Q1 2025 10-Q analysis
AI summary of MD&A and risk factor updates
Management Discussion & Analysis
- Cash, restricted cash, and cash equivalents decreased by $376,757 for Q1 FY2025
- Operating cash flow $207,781 driven by earnings and $55,502 increase in payables
- Inventory increased by $51,665 due to more units under construction
- Financing cash outflow $569,522 mainly for repurchase of 77,120 shares costing $583,394
- No material changes in critical accounting policies or estimates reported
Risk Factors
- New risk: Increased lot deposit impairments, $8.1M charge in Q1 2025 vs $7.5M reversal in Q1 2024, triggered by affordability challenges and market volatility
- Most materially updated risk: Margin pressure from higher lot costs and pricing pressure reduced homebuilding gross margin to 21.9% in Q1 2025, down from 24.5% in Q1 2024
- Compliance risk: Credit Agreement amended March 2025 with extended $300M revolving facility maturing 2030, includes leverage and liquidity covenants, no current borrowings
- Market risk: 12% decrease in new home orders in Q1 2025 driven by 6% fewer active communities and higher cancellation rate of 15.5%, impacting near-term revenue growth
- Financial risk: $900M Senior Notes mature May 2030 with $27M interest due next 12 months; cash of $2.2B and $289M unused credit capacity support liquidity
Generated from the filing text; verify against the original. 10-K vs 10-Q vs 8-K
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