NVR Inc (NVR · NYSE)

NVR's revenue fell 10.9% year over year to $9.63B TTM with earnings down 22.6%, and the company missed EPS estimates in each of its last two quarters (Q2 reported $83.96 vs. $94.82 expected; Q1 $67.76 vs. $79.20), reversing a pair of beats in late 2025. Quarterly results have been uneven, with June-quarter revenue of $2.33B rebounding from March's $1.88B but trailing the December quarter's $2.71B, and operating cash flow turned negative at -$151.5M in the most recent quarter. The balance sheet remains a clear strength: total debt of $1.05B against $1.20B cash (0.7x debt/EBITDA), a 3.38 current ratio, and ROE of 31.5% on a 13.9% operating margin. Shares closed at $6,297.60, down 23.0% from their 52-week high and 6.3% below the 200-day moving average, while analysts hold a mixed stance (three buys, three holds, one sell) with an average 12-month target of $7,160.