NVR Inc.
Cash Flow Statement
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||
| Net Income | $1.34B | $1.68B | $1.59B | $1.73B | $1.24B | $901.2M | $878.5M | $797.2M |
| Depreciation & Amortization | $24.5M | $18.4M | $16.9M | $17.4M | $19.5M | $22.0M | $20.8M | $20.2M |
| Depreciation | — | — | — | — | — | — | — | — |
| Amortization | — | — | — | — | — | — | — | — |
| Stock-Based Compensation | $69.2M | $73.9M | $99.5M | $82.5M | $58.2M | $50.8M | $78.5M | $75.7M |
| Net Cash from Operating Activities | $1.12B | $1.37B | $1.50B | $1.87B | $1.24B | $925.3M | $866.5M | $723.1M |
| Investing Activities | ||||||||
| Capital Expenditures | $24.5M | $29.2M | $24.9M | $18.4M | $17.9M | $16.1M | $22.7M | $19.7M |
| Business Acquisitions | — | — | — | — | — | — | — | — |
| Net Cash from Investing Activities | $-71.2M | $-26.6M | $-24.1M | $-27.4M | $-18.2M | $-3.9M | $-13.3M | $-8.2M |
| Financing Activities | ||||||||
| Dividends Paid | — | — | — | — | — | — | — | — |
| Stock Repurchases | $1.83B | $2.06B | $1.08B | $1.50B | $1.54B | $371.1M | $698.4M | $846.1M |
| Net Cash from Financing Activities | $-1.76B | $-1.90B | $-833.0M | $-1.91B | $-1.40B | $727.6M | $-424.7M | $-672.3M |
| Net Change in Cash | $-707.8M | $-550.8M | $640.9M | $-62.5M | $-172.8M | $1.65B | $428.6M | $42.7M |
| Free Cash Flow | $1.10B | $1.35B | $1.47B | $1.85B | $1.22B | $909.2M | $843.8M | $703.5M |