AI English summary of an SEC filing — figures as filed

NVR said net income for Q3 2025 was $342.7 million, diluted earnings per share was $112.33, and both declined 20% and 14%, respectively, from $429.3 million and $130.50 for Q3 2024.

8-KResults of Operations and Financial ConditionFiled Oct 22, 2025Period of report Oct 22, 2025Summary published (UTC) Oct 7, 2026

Key points

AI summary

NVR said net income for Q3 2025 was $342.7 million, diluted earnings per share was $112.33, and both declined 20% and 14%, respectively, from $429.3 million and $130.50 for Q3 2024.
The company said new orders for Q3 2025 fell 16% to 4,735 units, the cancellation rate was 19% (Q3 2024 15%), and backlog as of September 30 was 9,165 units and $4.39 billion.
The company said its gross profit margin fell to 21.0% in Q3 2024 from 23.4% in Q3 2025. It cited higher lot costs, pricing pressure and contract land deposit impairments of approximately $18.9 million as factors.
The company said it repurchased 35,224 shares for $276,405 (in thousands) in Q3 2025. It also said its effective tax rate for Q3 was 22.8% (Q3 2024 20.3%).

Summary

AI-written

Analysis scope · Filing body and confirmed press-release exhibitWe analyzed the filing body and confirmed exhibits. This is not a review of other exhibits, investor presentations or the full earnings call.

Q3 2025 Net Income $342.7 million

NVR said net income for Q3 2025 was $342.7 million, diluted earnings per share was $112.33, and both declined 20% and 14%, respectively, from $429.3 million and $130.50 for Q3 2024.

Source · Based on the filing body and exhibits

Q3 New Orders 4,735 Units, Cancellation Rate 19%

The company said new orders for Q3 2025 fell 16% to 4,735 units, the cancellation rate was 19% (Q3 2024 15%), and backlog as of September 30 was 9,165 units and $4.39 billion.

Source · Based on the filing body and exhibits

Q3 Gross Margin Falls to 21.0%

The company said its gross profit margin fell to 21.0% in Q3 2024 from 23.4% in Q3 2025. It cited higher lot costs, pricing pressure and contract land deposit impairments of approximately $18.9 million as factors.

Source · Based on the filing body and exhibits

Q3 Share Repurchases and Effective Tax Rate

The company said it repurchased 35,224 shares for $276,405 (in thousands) in Q3 2025. It also said its effective tax rate for Q3 was 22.8% (Q3 2024 20.3%).

Source · Based on the filing body and exhibits

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.

View the original filing on SEC EDGAR ↗

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