회사 개요
NVR, Inc. operates as a prominent homebuilder within the United States, specializing in the construction and sale of single-family detached homes, townhomes, and condominium buildings under its Ryan Homes, NVHomes, and Heartland Homes brand names. The company functions within the Consumer Cyclical sector and the Residential Construction industry, positioning itself as a key player in the housing market where demand is often sensitive to economic cycles and interest rate fluctuations. With a market capitalization of $18.14B, NVR, Inc. reports annual revenue of $10.44B and employs approximately 6,300 individuals across its operations. These financial figures indicate that the company maintains a substantial market presence, utilizing significant capital resources to execute large-scale residential development projects while managing a sizable workforce. The scale of its operations suggests a high level of operational complexity, requiring precise management of supply chains, labor costs, and regulatory compliance to maintain its position in the competitive housing landscape.
재무 건전성
NVR, Inc. reported total revenue of $10.44B and net income of $1.34B over the trailing twelve months, with an EBITDA of $1.81B that highlights the company's operational profitability before financing costs. The gap between the $10.44B revenue and the $1.34B net income reveals a cost structure where operating expenses, including construction costs, labor, and selling costs, consume a significant portion of gross receipts before reaching the bottom line. The company generated $1.16B in free cash flow, which provides essential financial flexibility for funding new homebuilding projects, paying down debt, or returning capital to shareholders without relying solely on external financing. Profitability analysis shows a gross margin of 22.9%, an operating margin of 17.4%, and a profit margin of 12.8%, indicating that for every dollar of revenue, the company retains roughly 13 cents as net profit after all expenses. On the balance sheet, the company holds $1.88B in cash against $1.10B in debt, supported by a debt-to-equity ratio of 28.34% that suggests a relatively conservative leverage profile compared to many peers. Liquidity is further evidenced by a current ratio of 6.21, which indicates a robust ability to meet short-term obligations with current assets. Management effectiveness is underscored by a return on equity of 33.2% and a return on assets of 18.3%, metrics that demonstrate efficient capital allocation and strong earnings generation relative to the equity base and total asset pool.
밸류에이션 평가
Valuation metrics for NVR, Inc. include a trailing twelve-month P/E ratio of 14.88 and a forward P/E of 14.38, where the slight difference implies that the market expects earnings to stabilize or grow modestly in the coming year relative to current performance. The price-to-book ratio stands at 4.70, suggesting that the market values the company at nearly five times its book value, reflecting a premium assigned to its brand, land inventory, and growth prospects over tangible assets alone. Alternative valuation perspectives include a price-to-sales ratio of 1.74 and an EV/EBITDA of 9.56, which provide context on the company's pricing relative to its sales volume and enterprise value adjusted for earnings before interest, taxes, depreciation, and amortization. Price action over the last year shows a 52-week high of $8618.28 and a 52-week low of $6301.03, placing the current trading price within a specific range relative to these historical extremes and highlighting recent volatility. The stock carries a beta of 1.07, indicating that its price volatility tends to move in tandem with the broader market, with a slight tendency to amplify market movements more than the average stock.
Growth & Income
Growth dynamics for the company show a revenue decline of -5.0% year-over-year and an earnings decline of -13.1% year-over-year, indicating that earnings are contracting at a faster rate than revenue, which often points to margin pressure or a deceleration in sales velocity. As a non-dividend payer, NVR, Inc. reports a dividend yield of N/A and a payout ratio of 0.0%, meaning the company retains all of its earnings rather than distributing them to shareholders. This retention strategy allows the firm to reinvest capital directly into land acquisition, construction starts, and operational expansion to fuel future growth in a capital-intensive industry. Overall, the growth and income profile is characterized by recent contraction in both top-line sales and bottom-line earnings, with no current income generation via dividends, relying instead on operational leverage and potential market share gains to drive future value appreciation.