NVR · 10-Q · 2026Q3 · Full report

Operating Cash Flow and Investment

NVR INC · 2026-11-04 · Importance 43 · Surprise 24 · Matches filing data

Cash, restricted cash, and cash equivalents decreased $787.4 million during the first nine months of 2026. Operating activities provided $412.1 million, including a $253.8 million reduction in mortgage loans held for sale, while cash was primarily used for a $649.2 million increase in inventory and a $120.7 million increase in contract land deposits. Investing activities used $20.2 million, including $12.3 million invested in unconsolidated joint ventures and $29.9 million for property, plant, and equipment; proceeds included $21.6 million from selling a joint-venture interest. Financing activities used $1.179 billion, mainly for $1.227 billion of share repurchases, partly offset by $68.6 million of stock-option exercise proceeds.

Key facts

• NVR's cash, restricted cash and cash equivalents decreased $787,350 during the first nine months of 2026; operating activities provided $412,096, including a $253,805 reduction in mortgage loans held for sale. source
• During the first nine months of 2026, NVR used $649,226 to increase inventory, attributable to more units under construction, and increased contract land deposits by $120,724. source
• NVR's investing cash outflow was $20,201 in the first nine months of 2026, including $12,306 invested in unconsolidated JVs and $29,879 in property and equipment purchases; it received $21,559 from selling a JV interest. source

Impact estimates