NVR Inc
nvrinc.comWhat Do They Do?
Builds and sells single-family homes, townhomes and condominiums to first-time, move-up and luxury homebuyers, and offers them mortgage and title services.
10-K for FY2025, filed Feb 11, 2026NVR, Inc., a Virginia corporation, was formed in 1980 as NVHomes, Inc. Our primary business is the construction and sale of single-family…View ↗
We are one of the largest homebuilders in the United States. We operate in thirty-seven metropolitan areas in sixteen states, and…View ↗
We provide a number of mortgage and title-related services through our mortgage banking operations. Through operations in each of our…View ↗
How Do They Make Money?
Homebuyers buy newly built homes; NVR Mortgage Finance earns origination and title fees and gains from selling closed loans to investors, typically within 30 days of closing.
10-K for FY2025, filed Feb 11, 2026NVR, Inc., a Virginia corporation, was formed in 1980 as NVHomes, Inc. Our primary business is the construction and sale of single-family…View ↗
We provide a number of mortgage and title-related services through our mortgage banking operations. Through operations in each of our…View ↗
NVRM sells the mortgage loans it closes to investors in the secondary markets primarily on a servicing released basis, typically within 30…View ↗
$10.3B
-
10-K for FY2025, filed Feb 11, 2026
$10.3B ↗
| Segment | Share | Revenue | How money arrives |
|---|---|---|---|
|
Home Building
Sold outright
10-K for FY2025, filed Feb 11, 2026 |
98%
FY2022: 98%
|
Home Building, FY2025
$10.1B Sources
|
Sold outright |
|
Mortgage Banking
|
2.2%
FY2022: 1.9%
|
Mortgage Banking, FY2025
$229.7M Sources
|
Who Are Their Customers?
Homebuyers purchase homes directly through NVR's homebuilding operations, often visiting furnished model homes and sales centers. Mortgage and title services are provided to its homebuilding customers.
10-K for FY2025, filed Feb 11, 2026NVR, Inc., a Virginia corporation, was formed in 1980 as NVHomes, Inc. Our primary business is the construction and sale of single-family…View ↗
Our preferred marketing method is for customers to visit a furnished model home featuring many built-in options and a landscaped lot. The…View ↗
We provide a number of mortgage related services to our homebuilding customers through our mortgage banking operations. Our mortgage…View ↗
Do Revenues Turn Into Profits?
Yes. It kept 13 cents of every revenue dollar as net income in FY2025 and turned 11 cents into free cash flow.
How Are They Changing?
- Net income
-
Sources
10-Q for Q2 FY2026, filed Aug 5, 2026
$236.5MView ↗
- ▼ −29%
- vs $333.7M in Q2 FY2025
10-Q for Q2 FY2026, filed Aug 5, 2026
Open tableView ↗
Growing. Revenue grew 15% in 4 years, from $9B in FY2021 to $10.3B in FY2025, about 4% a year.
Mortgage lending customers
The mortgage business moved from originating loans almost exclusively for NVR homebuyers to originating them exclusively for those homebuyers.
10-K for FY2022, filed Feb 15, 2023 10-K for FY2025, filed Feb 11, 2026In addition to building and selling homes, we provide a number of mortgage-related services through our mortgage banking operations.…View ↗
We provide a number of mortgage and title-related services through our mortgage banking operations. Through operations in each of our…View ↗
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