NVR · 10-Q · 2026Q2 · Full report

Operating Expense Trends

NVR INC · 2026-08-05 · Importance 18 · Surprise 14 · From source text

Homebuilding SG&A expense was $150,721 thousand in the second quarter of 2026, broadly flat versus $149,170 thousand in 2025, but increased to 6.6% of revenue from 5.9%. Six-month SG&A decreased $6,600 thousand to $307,692 thousand, while SG&A as a percentage of revenue increased to 7.5% from 6.4%. The six-month reduction included a $3,500 thousand decrease in personnel costs from lower headcount and a $3,100 thousand decrease in equity-based compensation. Equity-based compensation expense across homebuilding reconciliations was $30,721 thousand in the first six months of 2026 versus $33,944 thousand in 2025.

Key facts

• SG&A expense for the six months ended June 30, 2026 was $307,692 compared to $314,287 for the six months ended June 30, 2025. source
• The corporate capital allocation charge for the three months ended June 30, 2026 totaled $96,796 and for the three months ended June 30, 2025 totaled $91,898. source
• Selling, general and administrative expense in the second quarter of 2026 was $150,721 and increased as a percentage of revenue to 6.6% from 5.9%. source
• The corporate capital allocation charge to the Mid Atlantic for the three months ended June 30, 2026 was $40,089 and for the six months ended June 30, 2026 was $75,150. source
• SG&A expense decreased by approximately $6,600 in the first six months of 2026 compared to the same period in 2025, primarily due to a decrease of approximately $3,500 in personnel costs and a decrease of approximately $3,100 in equity based compensation expense. source

Impact estimates