For the year ending 2025-12-31, NVR had -$707,786K decrease in cash & cash equivalents over the period. $1,096,812K in free cash flow.
| Cash Flow | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Net income | 1,339,816 | 1,681,928 | 1,591,611 | 1,725,575 |
| Depreciation and amortization | 24,510 | 18,375 | 16,916 | 17,396 |
| Equity-based compensation expense | 69,213 | 73,925 | 99,507 | 82,537 |
| Contract land deposit impairments (recoveries) and other impairments, net | 75,874 | 7,167 | -2,908 | 28,466 |
| Gain on sale of loans, net | 187,128 | 189,475 | 163,322 | 152,668 |
| Deferred tax (benefit) expense | -1,443 | 5,793 | -3,743 | -11,101 |
| Mortgage loans closed | 6,045,981 | 6,267,493 | 5,740,199 | 6,314,514 |
| Mortgage loans sold and principal payments on mortgage loans held for sale | 5,994,849 | 6,351,178 | 5,949,657 | 6,471,270 |
| Distribution of earnings from unconsolidated joint ventures | 0 | 1,500 | 2,000 | 9,000 |
| Decrease (increase) in inventory | -335,147 | 108,557 | 161,875 | -159,091 |
| Increase in contract land deposits | 200,657 | 157,291 | 77,563 | 26,407 |
| (increase) decrease in receivables | 57,368 | -62,664 | 59,653 | 27,384 |
| (decrease) increase in accounts payable and accrued expenses | -142,268 | -83,215 | 49,105 | -13,777 |
| Increase (decrease) in contract with customer, liability | -73,716 | -11,515 | 20,637 | -103,659 |
| Other, net | -9,528 | -10,522 | -22,177 | 26,276 |
| Net cash provided by operating activities | 1,121,320 | 1,374,462 | 1,497,993 | 1,870,101 |
| Investments in and advances to unconsolidated joint ventures | 47,614 | 3,100 | 1,776 | 9,735 |
| Distribution of capital from unconsolidated joint ventures | 0 | 2,715 | 180 | 0 |
| Purchase of property, plant and equipment | 24,508 | 29,212 | 24,877 | 18,428 |
| Proceeds from the sale of property, plant and equipment | 914 | 3,044 | 2,373 | 732 |
| Cash provided by (used in) investing activity, including discontinued operation | -71,208 | -26,553 | -24,100 | -27,431 |
| Purchase of treasury stock | 1,833,316 | 2,057,677 | 1,081,815 | 1,500,358 |
| Proceeds from the issuance of senior notes | - | - | - | 0 |
| Redemption of senior notes | - | 0 | 0 | 600,000 |
| Debt issuance costs | - | - | - | 0 |
| Principal payments on finance lease liabilities | 4,728 | 2,634 | 1,661 | 1,495 |
| Proceeds from the exercise of stock options | 80,146 | 161,625 | 250,509 | 196,717 |
| Net cash used in financing activities | -1,757,898 | -1,898,686 | -832,967 | -1,905,136 |
| Net (decrease) increase in cash, restricted cash, and cash equivalents | -707,786 | -550,777 | 640,926 | -62,466 |
| Cash and cash equivalents at beginning of period | 2,664,667 | 3,215,444 | 2,574,518 | 2,636,984 |
| Cash and cash equivalents at end of period | 1,956,881 | 2,664,667 | 3,215,444 | 2,574,518 |
NVR INC (NVR)
NVR INC (NVR)