NVR · 10-Q · 2026Q2 · Full report
Liquidity and Debt Position
NVR INC · 2026-08-05 · Importance 48 · Surprise 6 · Contradicted
NVR held approximately $1,100,000 thousand of cash and cash equivalents at June 30, 2026, plus $287,200 thousand of unused revolving-credit capacity and $150,000 thousand of unused mortgage-repurchase capacity. Senior Notes had an aggregate principal balance of $900,000 thousand and mature in May 2030, with $104,550 thousand of future interest payments, including $27,000 thousand due within twelve months. The $300,000 thousand unsecured revolving credit agreement had no borrowings outstanding and approximately $12,800 thousand of letters of credit outstanding. The $150,000 thousand mortgage repurchase facility also had no borrowings outstanding at June 30, 2026.
Key facts
- Payment obligations totaling approximately $737,500 under existing LPAs are expected to be paid to land developers, with the majority expected within the next three years. source
- Our Senior Notes have an outstanding aggregate principal balance of $900,000 and mature in May 2030, with future interest payments totaling $104,550 and $27,000 due within the next twelve months. source
- As of June 30, 2026, Senior Notes aggregate principal balance was $900,000 which mature in May 2030. source
- As of June 30, 2026, we had approximately $1,100,000 in cash and cash equivalents, approximately $287,200 in unused committed capacity under our revolving credit facility and $150,000 in unused committed capacity under our revolving mortgage repurchase facility. source
- The Credit Agreement provides for aggregate revolving loan commitments of $300,000 and a $100,000 sublimit for letters of credit of which approximately $12,800 was outstanding as of June 30, 2026, and there were no borrowings outstanding under the Credit Agreement as of June 30, 2026. source
- The Repurchase Agreement provides for aggregate borrowings up to $150,000 and there were no borrowings outstanding under the Repurchase Agreement as of June 30, 2026. source
- We believe we are well positioned due to the strength of our balance sheet and our disciplined lot acquisition strategy. source
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| assets | positive | realized | +20.1% | As of June 30, 2026, we had approximately $1,100,000 in cash and cash equivalents, approximately $287,200 in unused committed capacity… |
| liability | negative | realized | -16.4% | Our Senior Notes have an outstanding aggregate principal balance of $900,000 and mature in May 2030, with future interest payments… |
| liability | negative | committed | -11.5% | Payment obligations totaling approximately $737,500 under existing LPAs are expected to be paid to land developers, with the majority… |
| liability | negative | committed | -1.6% | Our Senior Notes have an outstanding aggregate principal balance of $900,000 and mature in May 2030, with future interest payments… |
| cash | negative | committed | -0.4% | Our Senior Notes have an outstanding aggregate principal balance of $900,000 and mature in May 2030, with future interest payments… |
| liability | negative | realized | -0.2% | The Credit Agreement provides for aggregate revolving loan commitments of $300,000 and a $100,000 sublimit for letters of credit of which… |