UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2025 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ____ to ____ Commission File Number: 1-12378 NVR, Inc. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporatio ...

核心业绩表现 - 第三季度每股收益为11233美元，超出市场预期428%，但较去年同期13050美元下降14% [4] - 住宅建筑业务收入为256亿美元，超出市场预期63%，但较去年同期下降44% [5] - 合并总收入为261亿美元，同比下降45% [5] 住宅建筑业务详情 - 业务收入下降44%至256亿美元 [6] - 房屋结算量下降5%至5639套，优于预期1126%的降幅 [6] - 结算平均售价保持稳定，为454万美元 [6] - 毛利率收缩240个基点至21%，主要因土地成本上升和价格压力 [7] - 新订单下降16%至4735套，但新订单平均售价上升3%至464800美元 [8] - 订单取消率上升至19%，高于去年同期的15% [8] - 截至2025年9月30日，未交付订单量下降19%至9165套，价值439亿美元 [8] - 季度内平均活跃社区数量增至450个，高于去年同期的422个 [9] 抵押贷款银行业务 - 抵押贷款业务费用下降111%至4920万美元 [9] - 抵押贷款关闭贷款总额下降7%至154亿美元 [9] - 贷款捕获率保持在86%，与去年同期持平 [9] 财务状况与资本运作 - 截至2025年9月30日，住宅建筑业务现金及等价物为193亿美元，抵押贷款银行业务为3930万美元 [10] - 2025年前九个月回购178178股，总金额133亿美元 [10] - 截至2025年9月30日，流通股为2860899股 [10] 行业与市场环境 - 住房市场持续疲软，承受能力挑战在宏观经济不确定性和通胀压力下持续存在 [2] - 购房者持续谨慎，整体住房需求呈现持续疲弱态势 [2]

NVR, Inc. (NYSE:NVR) reported an impressive EPS of $112.33, beating the estimated $104.27 and showcasing its ability to exceed market expectations.The company's revenue for the third quarter of 2025 reached approximately $2.61 billion, surpassing the estimated $2.43 billion and indicating strong market presence and operational efficiency.NVR maintains a strong financial position with a price-to-earnings (P/E) ratio of approximately 14.93 and a low debt-to-equity ratio of 0.27, reflecting a conservative appr ...

NVR (NVR) came out with quarterly earnings of $112.33 per share, beating the Zacks Consensus Estimate of $107.88 per share. This compares to earnings of $130.5 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of +4.12%. A quarter ago, it was expected that this homebuilder would post earnings of $104.89 per share when it actually produced earnings of $108.54, delivering a surprise of +3.48%.Over the last four quarters, the company ...

Exhibit 99.1 Ef ective Tax Rate Our effective tax rate for the three and nine month periods ended September 30, 2025 was 22.8% and 24.5%, respectively, compared to 20.3% and 20.6% for the three and nine month periods ended September 30, 2024, respectively. The increase in the effective tax rate in each period is primarily attributable to a lower income tax benefit recognized for excess tax benefits from stock option exercises, which totaled $13.4 million and $19.7 million for the three and nine months ended ...

核心财务表现 - 2025年第三季度净利润为3.427亿美元，同比下降20%，稀释后每股收益为112.33美元，同比下降14% [1] - 2025年第三季度综合收入为26.1亿美元，较2024年同期的27.3亿美元下降4% [1] - 2025年前九个月净利润为9.76亿美元，同比下降20%，收入为76.1亿美元，同比下降1% [1] 住宅建筑业务运营 - 2025年第三季度新订单为4,735套，同比下降16%，平均销售价格为464,800美元，同比上涨3% [2] - 订单取消率从2024年第三季度的15%上升至2025年第三季度的19% [2] - 2025年第三季度完成结算5,639套，同比下降5%，平均结算价格为454,000美元，与去年同期基本持平 [2] - 截至2025年9月30日，已售未结算订单积压量为9,165套，同比下降19%，价值43.9亿美元，同比下降17% [2] 住宅建筑业务财务 - 2025年第三季度住宅建筑收入为25.6亿美元，同比下降4% [3] - 毛利率从2024年第三季度的23.4%下降至2025年第三季度的21.0%，主要受地块成本上升、可负担性挑战带来的定价压力以及约1,890万美元的土地定金减值影响 [3] - 2025年第三季度住宅建筑业务税前收入为4.114亿美元，同比下降18% [3] 抵押贷款银行业务 - 2025年第三季度抵押贷款发放额为15.4亿美元，同比下降7% [4] - 2025年第三季度抵押贷款业务税前收入为3,270万美元，同比下降6% [4] 税率与股票回购 - 2025年第三季度和前九个月的实际税率分别为22.8%和24.5%，高于2024年同期的20.3%和20.6%，主要归因于股票期权行权带来的税收优惠减少 [4] - 公司在第三季度回购了35,224股股票，总成本为2.764亿美元，前九个月共回购178,178股，总成本为13.3亿美元 [10] - 董事会授权了一项高达7.5亿美元的股票回购计划 [12] 区域运营数据 - 按区域划分，2025年第三季度新订单量在中大西洋地区为1,714套，东北地区为433套，中东地区为931套，东南地区为1,657套 [9] - 同期结算量在中大西洋地区为2,008套，东北地区为420套，中东地区为1,200套，东南地区为2,011套 [9] - 平均活跃社区数量从2024年第三季度的422个增加至2025年第三季度的450个 [9][10]

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Investors looking for stocks in the Building Products - Home Builders sector might want to consider either Persimmon Plc (PSMMY) or NVR (NVR) . But which of these two companies is the best option for those looking for undervalued stocks? Let's take a closer look.The best way to find great value stocks is to pair a strong Zacks Rank with an impressive grade in the Value category of our Style Scores system. The proven Zacks Rank emphasizes companies with positive estimate revision trends, and our Style Scores ...

NVR, Inc. (NVR) is a leading U.S. homebuilding firm headquartered in Reston, Virginia. Operating through its Ryan Homes, NVHomes and Heartland Homes divisions, NVR primarily engages in the design, development and sale of single-family detached homes, townhomes and condominiums, and also maintains a mortgage banking arm. NVR’s market capitalization is around $21.4 billion. The company is expected to announce its fiscal third-quarter earnings for 2025 soon. Ahead of the event, analysts expect NVR to report ...

Investors interested in Building Products - Home Builders stocks are likely familiar with D.R. Horton (DHI) and NVR (NVR) . But which of these two stocks offers value investors a better bang for their buck right now? We'll need to take a closer look.We have found that the best way to discover great value opportunities is to pair a strong Zacks Rank with a great grade in the Value category of our Style Scores system. The proven Zacks Rank emphasizes companies with positive estimate revision trends, and our S ...