$NVR
NVR INC

2023 Q3 Form 10-Q Financial Statement

#000090616323000108 Filed on August 02, 2023

View on sec.gov

Income Statement

Concept 2023 Q3 2023 Q2
Revenue $2.569B $2.378B
YoY Change -7.98% -10.58%
Cost Of Revenue $1.902B $1.728B
YoY Change -9.09% -10.21%
Gross Profit $713.0M $649.4M
YoY Change 1.95% -12.51%
Gross Profit Margin 27.75% 27.31%
Selling, General & Admin $166.8M $171.4M
YoY Change 8.55% 9.93%
% of Gross Profit 23.39% 26.39%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $4.200M $4.217M
YoY Change -1.08% -6.93%
% of Gross Profit 0.59% 0.65%
Operating Expenses $166.7M $171.4M
YoY Change 8.48% 9.93%
Operating Profit $546.3M $478.0M
YoY Change 0.11% -18.47%
Interest Expense -$6.900M -$6.795M
YoY Change -4.19% -155.44%
% of Operating Profit -1.26% -1.42%
Other Income/Expense, Net
YoY Change
Pretax Income $539.3M $471.2M
YoY Change 0.15% -17.92%
Income Tax $106.2M $67.15M
% Of Pretax Income 19.69% 14.25%
Net Earnings $433.2M $404.0M
YoY Change 5.29% -6.76%
Net Earnings / Revenue 16.86% 16.99%
Basic Earnings Per Share $132.90 $123.80
Diluted Earnings Per Share $125.30 $116.50
COMMON SHARES
Basic Shares Outstanding 3.264M shares 3.263M shares
Diluted Shares Outstanding 3.458M shares 3.467M shares

Balance Sheet

Concept 2023 Q3 2023 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.909B $2.693B
YoY Change 64.63% 79.55%
Cash & Equivalents $2.970B $2.693B
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory $2.004B $2.020B
Prepaid Expenses
Receivables $33.90M $26.76M
Other Receivables $0.00 $0.00
Total Short-Term Assets $4.947B $4.739B
YoY Change 24.73% 21.3%
LONG-TERM ASSETS
Property, Plant & Equipment $161.9M $158.7M
YoY Change 12.67% 11.43%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $28.10M $27.60M
YoY Change 1.08% -8.0%
Other Assets $61.10M $65.47M
YoY Change 12.81% 1.74%
Total Long-Term Assets $1.426B $1.527B
YoY Change 0.13% 10.65%
TOTAL ASSETS
Total Short-Term Assets $4.947B $4.739B
Total Long-Term Assets $1.426B $1.527B
Total Assets $6.372B $6.267B
YoY Change 18.23% 18.52%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $440.6M $436.2M
YoY Change -11.18% -6.32%
Accrued Expenses $490.2M $394.6M
YoY Change -5.21% -17.02%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $1.286B $1.200B
YoY Change -7.43% -13.09%
LONG-TERM LIABILITIES
Long-Term Debt $913.5M $914.0M
YoY Change -0.2% -0.2%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $913.5M $914.0M
YoY Change -0.2% -0.2%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.286B $1.200B
Total Long-Term Liabilities $913.5M $914.0M
Total Liabilities $2.200B $2.114B
YoY Change -4.56% -7.95%
SHAREHOLDERS EQUITY
Retained Earnings $12.95B $12.52B
YoY Change 14.46% 14.8%
Common Stock $2.801B $2.748B
YoY Change 10.33% 9.99%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $4.173B $4.153B
YoY Change
Total Liabilities & Shareholders Equity $6.372B $6.267B
YoY Change 18.23% 18.52%

Cashflow Statement

Concept 2023 Q3 2023 Q2
OPERATING ACTIVITIES
Net Income $433.2M $404.0M
YoY Change 5.29% -6.76%
Depreciation, Depletion And Amortization $4.200M $4.217M
YoY Change -1.08% -6.93%
Cash From Operating Activities $658.1M $28.68M
YoY Change 8.65% -79.2%
INVESTING ACTIVITIES
Capital Expenditures $7.100M $8.734M
YoY Change -320.43% -286.03%
Acquisitions
YoY Change
Other Investing Activities $200.0K $1.196M
YoY Change -3.38% -113.88%
Cash From Investing Activities -$6.900M -$7.538M
YoY Change 128.93% -43.36%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net -$121.3M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -439.3M -121.7M
YoY Change 27.23% -84.55%
NET CHANGE
Cash From Operating Activities 658.1M 28.68M
Cash From Investing Activities -6.900M -7.538M
Cash From Financing Activities -439.3M -121.7M
Net Change In Cash 211.9M -100.5M
YoY Change -17.68% -84.84%
FREE CASH FLOW
Cash From Operating Activities $658.1M $28.68M
Capital Expenditures $7.100M $8.734M
Free Cash Flow $651.0M $19.95M
YoY Change 6.91% -86.01%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2023Q2 nvr Number Of Finished Lots Expected To Be Developed From Raw Parcels Of Land
NumberOfFinishedLotsExpectedToBeDevelopedFromRawParcelsOfLand
1600 lot
CY2023Q2 nvr Aggregate Additional Funding Commitments Related To Raw Land Property Development
AggregateAdditionalFundingCommitmentsRelatedToRawLandPropertyDevelopment
1900000 usd
CY2023Q2 nvr Expected Development Credit
ExpectedDevelopmentCredit
900000 usd
CY2022Q4 us-gaap Real Estate Inventory Capitalized Interest Costs
RealEstateInventoryCapitalizedInterestCosts
570000 usd
CY2021Q4 us-gaap Real Estate Inventory Capitalized Interest Costs
RealEstateInventoryCapitalizedInterestCosts
593000 usd
us-gaap Interest Costs Incurred
InterestCostsIncurred
13826000 usd
us-gaap Interest Costs Incurred
InterestCostsIncurred
25603000 usd
CY2023Q2 us-gaap Interest Expense
InterestExpense
6795000 usd
CY2022Q2 us-gaap Interest Expense
InterestExpense
12257000 usd
us-gaap Interest Expense
InterestExpense
14053000 usd
us-gaap Interest Expense
InterestExpense
25423000 usd
us-gaap Real Estate Inventory Capitalized Interest Costs Cost Of Sales1
RealEstateInventoryCapitalizedInterestCostsCostOfSales1
154000 usd
us-gaap Real Estate Inventory Capitalized Interest Costs Cost Of Sales1
RealEstateInventoryCapitalizedInterestCostsCostOfSales1
93000 usd
CY2023Q2 us-gaap Real Estate Inventory Capitalized Interest Costs
RealEstateInventoryCapitalizedInterestCosts
189000 usd
CY2022Q2 us-gaap Real Estate Inventory Capitalized Interest Costs
RealEstateInventoryCapitalizedInterestCosts
680000 usd
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
3250960 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
3335644 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
205446 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
244445 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
3456406 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
3580089 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
175338 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
189988 shares
CY2023Q1 us-gaap Stockholders Equity
StockholdersEquity
3845346000 usd
CY2023Q2 us-gaap Net Income Loss
NetIncomeLoss
404027000 usd
CY2023Q2 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
201077000 usd
CY2023Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
25159000 usd
CY2023Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation And Exercise Of Stock Options
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationAndExerciseOfStockOptions
79808000 usd
CY2023Q2 us-gaap Stockholders Equity
StockholdersEquity
4153263000 usd
CY2022Q4 us-gaap Stockholders Equity
StockholdersEquity
3506849000 usd
us-gaap Net Income Loss
NetIncomeLoss
748379000 usd
us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
311125000 usd
us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
47436000 usd
us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation And Exercise Of Stock Options
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationAndExerciseOfStockOptions
161724000 usd
CY2023Q2 us-gaap Stockholders Equity
StockholdersEquity
4153263000 usd
CY2023Q2 us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
34827 shares
us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
56001 shares
CY2023Q2 nvr Stock Issued During Period Shares Treasury Stock Reissued Upon Exercise Of Stock Option And Other
StockIssuedDuringPeriodSharesTreasuryStockReissuedUponExerciseOfStockOptionAndOther
53615 shares
nvr Stock Issued During Period Shares Treasury Stock Reissued Upon Exercise Of Stock Option And Other
StockIssuedDuringPeriodSharesTreasuryStockReissuedUponExerciseOfStockOptionAndOther
97556 shares
CY2022Q1 us-gaap Stockholders Equity
StockholdersEquity
2725599000 usd
CY2022Q2 us-gaap Net Income Loss
NetIncomeLoss
433314000 usd
CY2022Q2 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
266915000 usd
CY2022Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
20087000 usd
CY2022Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation And Exercise Of Stock Options
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationAndExerciseOfStockOptions
79581000 usd
CY2022Q2 us-gaap Stockholders Equity
StockholdersEquity
2991666000 usd
CY2021Q4 us-gaap Stockholders Equity
StockholdersEquity
3002378000 usd
us-gaap Net Income Loss
NetIncomeLoss
859414000 usd
us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
1015703000 usd
us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
31755000 usd
us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation And Exercise Of Stock Options
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationAndExerciseOfStockOptions
113822000 usd
CY2022Q2 us-gaap Stockholders Equity
StockholdersEquity
2991666000 usd
CY2022Q2 us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
61078 shares
us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
207132 shares
CY2022Q2 nvr Stock Issued During Period Shares Treasury Stock Reissued Upon Exercise Of Stock Option And Other
StockIssuedDuringPeriodSharesTreasuryStockReissuedUponExerciseOfStockOptionAndOther
30396 shares
nvr Stock Issued During Period Shares Treasury Stock Reissued Upon Exercise Of Stock Option And Other
StockIssuedDuringPeriodSharesTreasuryStockReissuedUponExerciseOfStockOptionAndOther
43719 shares
CY2022Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
144006000 usd
CY2021Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
134859000 usd
nvr Costs Accrued For New Warranty Contracts And Changes In Estimates For Pre Existing Warranties
CostsAccruedForNewWarrantyContractsAndChangesInEstimatesForPreExistingWarranties
43582000 usd
nvr Costs Accrued For New Warranty Contracts And Changes In Estimates For Pre Existing Warranties
CostsAccruedForNewWarrantyContractsAndChangesInEstimatesForPreExistingWarranties
42518000 usd
us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
45168000 usd
us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
39137000 usd
CY2023Q2 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
142420000 usd
CY2022Q2 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
138240000 usd
us-gaap Revenues
Revenues
4516607000 usd
us-gaap Revenues
Revenues
5037352000 usd
us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
904986000 usd
us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
1139957000 usd
CY2023Q2 us-gaap Assets
Assets
6266775000 usd
CY2022Q4 us-gaap Assets
Assets
5660973000 usd
nvr Fair Value Measurement Assumed Gain Loss From Loan Sale
FairValueMeasurementAssumedGainLossFromLoanSale
10686000 usd
nvr Fair Value Measurements Interest Rate Movement Effect
FairValueMeasurementsInterestRateMovementEffect
-29700000 usd
nvr Fair Value Measurements Changes In Servicing Rights Value
FairValueMeasurementsChangesInServicingRightsValue
40949000 usd
nvr Fair Value Measurements Security Price Change Gain Loss Included In Earnings
FairValueMeasurementsSecurityPriceChangeGainLossIncludedInEarnings
13119000 usd
us-gaap Derivative Instruments Not Designated As Hedging Instruments Gain Loss Net
DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet
35054000 usd
CY2022 us-gaap Derivative Instruments Not Designated As Hedging Instruments Gain Loss Net
DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet
-7435000 usd
CY2023Q2 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
13231000 usd
CY2023Q2 us-gaap Finance Lease Liability
FinanceLeaseLiability
14690000 usd
CY2022Q4 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
13745000 usd
CY2022Q4 us-gaap Finance Lease Liability
FinanceLeaseLiability
15002000 usd
CY2023Q2 us-gaap Lessee Operating Lease Term Of Contract
LesseeOperatingLeaseTermOfContract
P17Y2M12D
us-gaap Lessee Operating Lease Option To Extend
LesseeOperatingLeaseOptionToExtend
20
CY2023Q2 us-gaap Operating Lease Expense
OperatingLeaseExpense
9475000 usd
CY2022Q2 us-gaap Operating Lease Expense
OperatingLeaseExpense
8529000 usd
us-gaap Operating Lease Expense
OperatingLeaseExpense
18615000 usd
us-gaap Operating Lease Expense
OperatingLeaseExpense
16630000 usd
CY2022Q2 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
473000 usd
us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
1013000 usd
CY2022Q2 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
103000 usd
us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
211000 usd
CY2022Q2 us-gaap Short Term Lease Cost
ShortTermLeaseCost
6491000 usd
us-gaap Short Term Lease Cost
ShortTermLeaseCost
15023000 usd
CY2022Q2 us-gaap Lease Cost
LeaseCost
15596000 usd
us-gaap Lease Cost
LeaseCost
34862000 usd
CY2022Q2 us-gaap Operating Lease Payments
OperatingLeasePayments
6935000 usd
us-gaap Operating Lease Payments
OperatingLeasePayments
14736000 usd
CY2022Q2 us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
103000 usd
us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
211000 usd
CY2022Q2 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
367000 usd
us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
811000 usd
CY2022Q2 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
18073000 usd
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
23337000 usd
CY2022Q2 us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
451000 usd
us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
499000 usd
CY2023Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P5Y10M24D
CY2022Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P6Y
CY2023Q2 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P10Y4M24D
CY2022Q4 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P10Y9M18D
CY2023Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.040
CY2022Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.036
CY2023Q2 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.030
CY2022Q4 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.029
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.173
CY2022Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.245
nvr Adjustment To Income Tax Expense Income Tax Effect From Share Based Compensation Net
AdjustmentToIncomeTaxExpenseIncomeTaxEffectFromShareBasedCompensationNet
79151000 usd
CY2022Q2 nvr Adjustment To Income Tax Expense Income Tax Effect From Share Based Compensation Net
AdjustmentToIncomeTaxExpenseIncomeTaxEffectFromShareBasedCompensationNet
8744000 usd

Files In Submission

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0000906163-23-000108-index-headers.html Edgar Link pending
0000906163-23-000108-index.html Edgar Link pending
0000906163-23-000108.txt Edgar Link pending
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