NVR NVR INC

Overview and Growth

Fiscal 2025 results for NVR INC combined $10.32B of revenue with net income of $1.34B and an operating cash inflow of $1.12B. The $10.32B revenue base provides substantial context for the company’s earnings, cash generation, and capital requirements. Compared with $10.52B in fiscal 2024, revenue decreased 1.9%, a top-line contraction that reduced operating scale. The company reported diluted EPS of $436.55, adding a shareholder-level measure to the absolute income figures considered below. The per-share result recorded a 13.8% decrease from fiscal 2024 diluted EPS of $506.69. A diluted share base of 3.07M links the aggregate earnings figure to diluted EPS and helps frame the per-share comparison. Compared with 3.32M diluted shares in fiscal 2024, the current 3.07M base was 7.5% lower. At period end, total assets were $5.86B, framing the scale of the company’s operating and financing commitments. Asset turnover was 1.76x, relating the company’s annual revenue directly to the total assets reported at the period end.

Profitability

Net income came to $1.34B, completing the progression from revenue through gross and operating profitability to the final reported result. Net margin was 13.0%, meaning that this portion of revenue remained as net income after all recognized expenses. The reported income-tax provision was $422.12M, the amount recognized between pretax income and the final net-income result. Net income equaled 34.7% of period-end equity, showing the earnings generated on shareholders’ book capital. Return on period-end assets was 22.9%, connecting net income with the company’s total asset base. Current net income of $1.34B was below fiscal 2024 net income of $1.68B, showing the direction of the bottom-line change.

Liquidity and Capital Structure

At period end, the $5.86B asset base was financed through $1.99B of liabilities and $3.86B of equity. Cash and equivalents totaled $1.96B, identifying the most liquid reported component available within the broader current-asset balance. The equity-to-assets relationship was 66.0%, placing book capital against the total resource base. The liabilities-to-assets relationship was 34.0%, placing reported obligations against the full positive asset balance. Cash and equivalents equaled 33.4% of total assets, showing the liquid cash component within the company’s broader resource base. The asset base changed 8.2% from $6.38B in fiscal 2024, leaving current total assets lower year over year. Reported equity changed 8.2% from $4.21B in fiscal 2024, placing the current capital base lower year over year. The reported cash balance changed 26.6% from $2.66B in fiscal 2024, ending lower year over year.

Cash Flow and Earnings Quality

Cash flow from operations was $1.12B, a reported cash inflow that can be compared directly with net income and capital spending. The operating-cash-flow-to-net-income relationship was 0.84x, comparing cash generated by operations with the bottom-line earnings result. Capital expenditures used $24.51M, identifying the reported investment outflow deducted from operating cash flow in the free-cash-flow calculation. Capital spending absorbed 2.2% of operating cash flow, quantifying the share of cash from operations directed to investment. Free cash flow came to $1.10B, leaving a positive amount after capital expenditures. The free-cash-flow margin was 10.6%, measuring cash remaining after capital spending against revenue. Free cash flow equaled 18.7% of total assets, relating post-investment cash generation to the company’s resource base. The operating cash outcome moved from $1.37B in fiscal 2024 to $1.12B, ending below the prior-year level.

Based on the annual report for the fiscal year ending Dec 31, 2025. Analysis generated Oct 21, 2026.