NVR, Inc. (NVR) Key Metrics
NVR valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $15.78B
- Enterprise value
- $16.54B
- P/E (TTM)
- 15.4 10-yr median 16.4
- Forward P/E
- 14.8
- PEG ratio
- 4.97
- Price / sales
- 1.6 10-yr median 2.1
- Price / book
- 4.9 10-yr median 5.7
- EV / EBITDA
- 10.8 10-yr median 11.9
- Dividend yield
- —
- Beta
- 0.90
NVR key metrics, 2016–2025
Fiscal year ended December 31, 2025 · U.S. dollarsNVR valuation Price multiples at each fiscal year-end price.
NVR returns How much profit the business earns on the capital it uses.
NVR per-share figures Results divided by the shares outstanding at year-end.
NVR financial health Debt, liquidity and how easily interest is covered.
NVR efficiency & capital use Working capital cycle and where the cash goes.
NVR valuation history
NVR returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
NVR debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
NVR cash returned to shareholders
NVR price vs earnings per share
NVR key metrics
2016–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $22.38B | $27.15B | $24.05B | $16.18B | $22.80B | $15.98B | $15.13B | $9.97B | $14.87B | $6.85B |
| Enterprise value | $21.62B | $25.56B | $21.85B | $14.67B | $22.16B | $14.96B | $14.67B | $9.86B | $14.81B | $7.05B |
| P/E ratio | 16.7 | 16.1 | 15.1 | 9.4 | 18.4 | 17.7 | 17.2 | 12.5 | 27.7 | 16.1 |
| Price / sales | 2.2 | 2.6 | 2.5 | 1.5 | 2.5 | 2.1 | 2.0 | 1.4 | 2.4 | 1.2 |
| Price / book | 5.8 | 6.4 | 5.5 | 4.6 | 7.6 | 5.1 | 6.5 | 5.5 | 9.3 | 5.3 |
| Price / free cash flow | 20.4 | 20.2 | 16.3 | 8.7 | 18.6 | 17.6 | 17.9 | 14.2 | 27.1 | 18.9 |
| Price / operating cash flow | 20.0 | 19.8 | 16.1 | 8.7 | 18.4 | 17.3 | 17.5 | 13.8 | 26.1 | 17.8 |
| EV / sales | 2.1 | 2.4 | 2.3 | 1.4 | 2.5 | 2.0 | 2.0 | 1.4 | 2.3 | 1.2 |
| EV / EBITDA | 11.9 | 11.8 | 11.1 | 6.3 | 13.3 | 12.8 | 13.7 | 9.8 | 16.6 | 10.0 |
| EV / free cash flow | 19.7 | 19.0 | 14.8 | 7.9 | 18.1 | 16.5 | 17.4 | 14.0 | 27.0 | 19.5 |
| Earnings yield | 6.0% | 6.2% | 6.6% | 10.7% | 5.4% | 5.6% | 5.8% | 8.0% | 3.6% | 6.2% |
| Free cash flow yield | 4.9% | 5.0% | 6.1% | 11.4% | 5.4% | 5.7% | 5.6% | 7.1% | 3.7% | 5.3% |
| Dividend yield | — | — | 1.0% | 1.2% | 0.6% | 1.1% | 1.8% | 2.3% | 0.0% | 2.2% |
| Shareholder yield (dividends + buybacks) | 8.2% | 7.6% | 5.5% | 10.5% | 7.4% | 3.5% | 6.4% | 10.8% | 2.8% | 8.8% |
| Share price at fiscal year-end | $7,292.77 | $8,178.90 | $7,000.45 | $4,612.58 | $5,908.87 | $4,079.86 | $3,808.41 | $2,436.99 | $3,508.22 | $1,669.00 |
| Per share | ||||||||||
| Revenue per share | $3,363.95 | $3,176.73 | $2,775.57 | $3,003.62 | $2,321.83 | $1,926.44 | $1,862.78 | $1,753.49 | $1,489.08 | $1,420.59 |
| Earnings per share | $436.56 | $506.76 | $463.31 | $491.82 | $320.48 | $230.09 | $221.13 | $194.82 | $126.77 | $103.62 |
| Operating cash flow per share | $365.37 | $414.12 | $436.11 | $533.02 | $321.95 | $236.22 | $218.11 | $176.72 | $134.18 | $93.68 |
| Free cash flow per share | $357.38 | $405.32 | $428.87 | $527.76 | $317.32 | $232.10 | $212.39 | $171.91 | $129.40 | $88.23 |
| Cash per share | $637.63 | $786.68 | $936.00 | $719.06 | $666.89 | $709.28 | $287.01 | $173.97 | $157.26 | $96.35 |
| Book value per share | $1,259.33 | $1,268.48 | $1,270.55 | $999.52 | $778.04 | $792.21 | $589.29 | $441.98 | $378.65 | $317.85 |
| Tangible book value per share | $1,259.33 | $1,238.99 | $1,256.31 | $971.63 | $763.45 | $921.54 | $564.55 | $429.76 | $378.37 | $317.21 |
| Dividends per share | — | — | $72.92 | $56.07 | $36.89 | $46.17 | $68.97 | $57.18 | $0.00 | $36.55 |
| Capex per share | $7.99 | $8.80 | $7.24 | $5.25 | $4.63 | $4.12 | $5.71 | $4.81 | $4.78 | $5.45 |
| Debt per share | $389.91 | $307.47 | $295.26 | $287.21 | $501.10 | $448.85 | $172.08 | $146.06 | $140.82 | $145.34 |
| Shares outstanding | 3.1M | 3.3M | 3.4M | 3.5M | 3.9M | 3.9M | 4.0M | 4.1M | 4.2M | 4.1M |
| Change in shares outstanding | −7.5% | −3.4% | −2.1% | −9.1% | −1.5% | −1.4% | −2.9% | −3.5% | +3.3% | −3.5% |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | 33.2% | 39.2% | 40.4% | 53.0% | 40.5% | 33.1% | 42.3% | 46.7% | 36.9% | 33.4% |
| Return on invested capital (ROIC) | 44.4% | 66.1% | 72.4% | 76.3% | 51.4% | 41.2% | 45.4% | 46.0% | 33.4% | 22.7% |
| Return on assets (ROA) | 21.9% | 25.9% | 26.0% | 30.0% | 21.3% | 18.8% | 25.2% | 25.9% | 19.1% | 16.5% |
| Return on tangible assets | 22.9% | 26.8% | 24.3% | 31.0% | 21.4% | 14.3% | 23.7% | 25.6% | 18.0% | 16.1% |
| Free cash flow margin | 10.6% | 12.8% | 15.5% | 17.6% | 13.7% | 12.0% | 11.4% | 9.8% | 8.7% | 6.2% |
| Income quality (OCF / net income) | 0.84 | 0.82 | 0.94 | 1.08 | 1.00 | 1.03 | 0.99 | 0.91 | 1.06 | 0.90 |
| Financial health | ||||||||||
| Total debt | $1.20B | $1.02B | $1.01B | $1.01B | $1.93B | $1.76B | $683.7M | $597.7M | $597.1M | $596.5M |
| Cash & short-term investments | $1.96B | $2.61B | $3.22B | $2.52B | $2.57B | $2.78B | $1.14B | $711.9M | $666.8M | $395.4M |
| Net debt | −$760.3M | −$1.59B | −$2.20B | −$1.52B | −$639.7M | −$1.02B | −$456.6M | −$114.2M | −$69.7M | $201.1M |
| Debt / equity | 0.31 | 0.24 | 0.23 | 0.29 | 0.64 | 0.57 | 0.29 | 0.33 | 0.37 | 0.46 |
| Debt / assets | 0.20 | 0.16 | 0.15 | 0.18 | 0.33 | 0.30 | 0.18 | 0.19 | 0.20 | 0.23 |
| Net debt / EBITDA | −0.42 | −0.74 | −1.12 | −0.66 | −0.39 | −0.88 | −0.43 | −0.11 | −0.08 | 0.29 |
| Current ratio | 3.95 | 5.07 | 4.25 | 4.53 | 5.95 | 5.91 | 4.37 | 3.76 | 3.62 | 3.02 |
| Quick ratio | 2.12 | 3.29 | 2.65 | 2.97 | 3.59 | 3.89 | 2.66 | 2.11 | 1.67 | 1.27 |
| Interest coverage | 58.0 | 71.5 | 65.7 | 54.9 | 27.7 | 23.9 | 37.4 | 35.7 | 33.1 | 28.6 |
| Working capital | $2.77B | $4.69B | $3.97B | $4.05B | $4.08B | $4.14B | $2.65B | $2.10B | $1.67B | $1.26B |
| Invested capital | $3.10B | $2.62B | $2.16B | $1.99B | $2.36B | $2.08B | $1.88B | $1.69B | $1.54B | $1.51B |
| Tangible asset value | $3.86B | $4.11B | $4.32B | $3.41B | $2.95B | $3.61B | $2.24B | $1.76B | $1.60B | $1.30B |
| Net current asset value | $1.72B | $3.67B | $2.96B | $3.04B | $2.07B | $2.31B | $1.96B | $1.50B | $923.4M | $538.3M |
| Graham number | $3,517.10 | $3,803.05 | $3,639.35 | $3,325.77 | $2,368.62 | $2,025.14 | $1,712.29 | $1,391.89 | $1,039.27 | $860.84 |
| Graham net-net per share | $277.34 | $450.10 | $574.98 | $364.39 | $188.90 | $248.27 | $90.38 | −$1.21 | −$18.60 | −$93.53 |
| Capital allocation | ||||||||||
| Dividends paid | — | — | $250.5M | $196.7M | $142.4M | $180.9M | $274.0M | $234.0M | $0 | $150.0M |
| Share buybacks (net) | $1.83B | $2.06B | $1.08B | $1.50B | $1.54B | $371.1M | $698.4M | $846.1M | $422.2M | $455.4M |
| Dividend payout ratio | — | — | 15.7% | 11.4% | 11.5% | 20.1% | 31.2% | 29.4% | 0.0% | 35.3% |
| Dividends + buybacks / free cash flow | 167.1% | 153.0% | 90.4% | 91.7% | 137.2% | 60.7% | 115.2% | 153.5% | 76.9% | 167.2% |
| Capex / revenue | 0.2% | 0.3% | 0.3% | 0.2% | 0.2% | 0.2% | 0.3% | 0.3% | 0.3% | 0.4% |
| Capex / operating cash flow | 2.2% | 2.1% | 1.7% | 1.0% | 1.4% | 1.7% | 2.6% | 2.7% | 3.6% | 5.8% |
| Capex / depreciation | 1.00 | 1.59 | 1.47 | 1.06 | 0.92 | 0.73 | 1.09 | 0.98 | 0.89 | 1.00 |
| Stock-based compensation / revenue | 0.7% | 0.7% | 1.0% | 0.8% | 0.6% | 0.7% | 1.1% | 1.1% | 0.7% | 0.7% |
| SG&A / revenue | 6.8% | 6.6% | 7.1% | 5.9% | 6.3% | 6.8% | 7.1% | 7.1% | 7.3% | 7.6% |
| Efficiency | ||||||||||
| Days sales outstanding | 1.2 | 1.1 | 1.0 | 0.7 | 0.8 | 0.9 | 0.9 | 1.0 | 1.1 | 1.0 |
| Days of inventory on hand | 86.8 | 93.2 | 96.8 | 89.0 | 98.7 | 93.9 | 81.1 | 80.1 | 85.5 | 81.4 |
| Days payables outstanding | 16.0 | 19.6 | 22.1 | 18.7 | 21.3 | 21.8 | 18.6 | 18.7 | 21.2 | 21.1 |
| Cash conversion cycle (days) | 71.9 | 74.7 | 75.7 | 71.0 | 78.1 | 73.0 | 63.5 | 62.4 | 65.5 | 61.2 |
| Receivables turnover | 315.89 | 342.20 | 382.60 | 535.02 | 486.27 | 412.60 | 400.92 | 371.13 | 324.09 | 383.32 |
| Payables turnover | 22.75 | 18.63 | 16.55 | 19.56 | 17.11 | 16.74 | 19.65 | 19.51 | 17.26 | 17.33 |
| Inventory turnover | 4.21 | 3.92 | 3.77 | 4.10 | 3.70 | 3.89 | 4.50 | 4.55 | 4.27 | 4.49 |
| Asset turnover | 1.69 | 1.62 | 1.56 | 1.83 | 1.54 | 1.57 | 2.12 | 2.33 | 2.24 | 2.26 |
| Average receivables | $32.7M | $30.8M | $24.9M | $19.7M | $18.4M | $18.3M | $18.5M | $19.3M | $19.5M | $15.2M |
| Average payables | $349.6M | $421.4M | $426.0M | $391.7M | $395.3M | $354.8M | $297.8M | $291.7M | $289.2M | $271.7M |
| Average inventory | $1.89B | $2.00B | $1.87B | $1.87B | $1.83B | $1.53B | $1.30B | $1.25B | $1.17B | $1.05B |
| Intangibles / total assets | 0.0% | 1.5% | 0.7% | 1.7% | 1.0% | −8.8% | 2.6% | 1.6% | 0.0% | 0.1% |
Computed from NVR's annual financial statements (latest annual report filed February 11, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
NVR valuation and financial ratios
At the end of fiscal 2025 (December 31, 2025), NVR traded at 16.7 times earnings, against a 10-year median of 16.4. Based on the latest twelve months, the trailing P/E is 15.4 and the forward P/E is 14.8. NVR earned a return on equity of 33.2% and a return on invested capital of 44.4% in fiscal 2025. It ended the year with $1.2 billion of debt and $2.0 billion in cash and short-term investments, a net cash position of $760.3 million. It returned $1.8 billion to shareholders: $0 in dividends and $1.8 billion in share buybacks, 167% of free cash flow. The share count fell 25.2% from 4.1M to 3.1M over 9 years.
See the NVR income statement, the NVR chart for price history, or the NVR stock overview for the latest quote and news.
NVR key metrics FAQ
What is NVR's P/E ratio?
NVR's trailing P/E ratio is 15.4 based on the last twelve months of earnings (as of October 18, 2026), and its forward P/E is 14.8. At the end of fiscal 2025 it was 16.7, compared with a 10-year median of 16.4.
What is NVR's EV/EBITDA?
NVR's enterprise value was 11.9 times EBITDA at the end of fiscal 2025 (enterprise value $21.6 billion, EBITDA $1.8 billion); the current EV/EBITDA is 10.8.
What is NVR's return on equity?
NVR's return on equity (ROE) was 33.2% in fiscal 2025: net income of $1.3 billion on average shareholders' equity of $4.0 billion.
What is NVR's ROIC?
NVR's return on invested capital was 44.4% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does NVR have?
NVR had total debt of $1.2 billion at the end of fiscal 2025, a debt-to-equity ratio of 0.31 and more cash than debt.
Does NVR buy back its shares?
Yes. NVR spent $1.8 billion on net share repurchases in fiscal 2025 Shares outstanding changed −7.5% over the year, to 3.1M..
What is NVR's free cash flow yield?
NVR generated $1.1 billion of free cash flow in fiscal 2025, a free cash flow yield of 4.9% on its market value at year-end ($22.4 billion).
What is NVR's current ratio?
NVR's current ratio was 3.95 at the end of fiscal 2025: current assets were 3.95 times current liabilities.