NVR INC
For the period ended Sep 30, 2025. Filed Nov 5, 2025.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2025 · Filed Nov 5, 2025
NVR$6,338.38+0.6%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
FINANCIAL INFORMATION Condensed Consolidated Financial Statements Condensed Consolidated Balance Sheets (unaudited)
PART I. FINANCIAL INFORMATION
Item 1. Financial Statements
| NVR, Inc. | ||
|---|---|---|
| Condensed Consolidated Balance Sheets | ||
| (in thousands, except share and per share data) | ||
| (unaudited) | ||
| September 30, 2025 | December 31, 2024 | |
| ASSETS | ||
| Homebuilding: | ||
| Cash and cash equivalents | $1,932,167 | $2,561,339 |
| Restricted cash | 44,034 | 42,172 |
| Receivables | 41,377 | 32,622 |
| Inventory: | ||
| Lots and housing units, covered under sales agreements with customers | 1,758,906 | 1,727,243 |
| Unsold lots and housing units | 313,971 | 237,177 |
| Land under development | 38,017 | 65,394 |
| Building materials and other | 20,531 | 28,893 |
| 2,131,425 | 2,058,707 | |
| Contract land deposits, net | 868,308 | 726,675 |
| Property, plant and equipment, net | 102,479 | 95,619 |
| Operating lease right-of-use assets | 87,116 | 78,340 |
| Reorganization value in excess of amounts allocable to identifiable assets, net | 41,580 | 41,580 |
| Other assets | 291,748 | 251,178 |
| 5,540,234 | 5,888,232 | |
| Mortgage Banking: | ||
| Cash and cash equivalents | 39,280 | 49,636 |
| Restricted cash | 8,123 | 11,520 |
| Mortgage loans held for sale, net | 341,579 | 355,209 |
| Property and equipment, net | 8,081 | 7,373 |
| Operating lease right-of-use assets | 25,252 | 23,482 |
| Reorganization value in excess of amounts allocable to identifiable assets, net | 7,347 | 7,347 |
| Other assets | 65,562 | 38,189 |
| 495,224 | 492,756 | |
| Total assets | $6,035,458 | $6,380,988 |
| NVR, Inc. | ||
|---|---|---|
| Condensed Consolidated Balance Sheets (Continued) | ||
| (in thousands, except share and per share data) | ||
| (unaudited) | ||
| September 30, 2025 | December 31, 2024 | |
| LIABILITIES AND SHAREHOLDERS' EQUITY | ||
| Homebuilding: | ||
| Accounts payable | $361,209 | $332,772 |
| Accrued expenses and other liabilities | 344,658 | 441,300 |
| Customer deposits | 277,351 | 322,926 |
| Operating lease liabilities | 93,191 | 83,939 |
| Senior notes | 909,654 | 911,118 |
| 1,986,063 | 2,092,055 | |
| Mortgage Banking: | ||
| Accounts payable and other liabilities | 55,249 | 53,433 |
| Operating lease liabilities | 27,384 | 25,428 |
| 82,633 | 78,861 | |
| Total liabilities | 2,068,696 | 2,170,916 |
| Commitments and contingencies | ||
| Shareholders' equity: | ||
| Common stock, $0.01 par value; 60,000,000 shares authorized; 20,555,330 shares issued as of both September 30, 2025 and December 31, 2024 | 206 | 206 |
| Additional paid-in capital | 3,131,980 | 3,031,637 |
| Deferred compensation trust – 106,697 shares of NVR, Inc. common stock as of both September 30, 2025 and December 31, 2024 | (16,710) | (16,710) |
| Deferred compensation liability | 16,710 | 16,710 |
| Retained earnings | 16,022,954 | 15,046,953 |
| Less treasury stock at cost – 17,694,431 and 17,543,686 shares as of September 30, 2025 and December 31, 2024, respectively | (15,188,378) | (13,868,724) |
| Total shareholders' equity | 3,966,762 | 4,210,072 |
| Total liabilities and shareholders' equity | $6,035,458 | $6,380,988 |
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