Filing Flows › NVR (NVR) › Q2 2026 › vs Q2 2025
NVR (NVR) Q2 2026 vs Q2 2025 (year over year)
NVR's revenue fell $272M (-10%) from $2.6B in Q2 2025 to $2.3B in Q2 2026. The biggest changes: Home Building Segment −$268M (-11%); Mortgage Banking −$4.0M (-8%). Operating margin 13.7% against 17.2% (-3.5 pts).
NVR, Q2 2026: revenue $2.3B (-10% year over year), operating margin 13.7%, net earnings $236M, operating cash flow −$152M. The chart draws each line against Q2 2025, the increases inside each band.
Margins
| Q2 2026 | Q2 2025 | Change | |
|---|---|---|---|
| Operating margin | 13.7% | 17.2% | -3.5 pts |
| Net margin | 10.2% | 12.8% | -2.7 pts |
Every line
| Line | Q2 2026 | Q2 2025 | Change | % |
|---|---|---|---|---|
| Home Building Segment | $2.3B | $2.5B | −$268M | -11% |
| Mortgage Banking | $46.6M | $50.5M | −$4.0M | -8% |
| Revenue | $2.3B | $2.6B | −$272M | -10% |
| Operating profit | $319M | $447M | −$128M | -29% |
| Costs & expenses | $2.0B | $2.2B | −$144M | -7% |
| Pre-tax earnings | $319M | $447M | −$128M | -29% |
| Net earnings | $236M | $334M | −$97.3M | -29% |
| Income tax | $82.2M | $113M | −$31.2M | -28% |
| Operating cash sources | $414M | $322M | $91.6M | +28% |
| Depreciation & amortization | $6.4M | $5.7M | $742K | +13% |
| Share-based compensation | $19.3M | $17.8M | $1.5M | +8% |
| Cash used in operations | $152M | −$35.1M | $187M | — |
| Working capital & other | $414M | $322M | $91.6M | +28% |
Questions
How much did NVR's revenue grow year over year in Q2 2026?
NVR's revenue fell $272M (-10%) from $2.6B in Q2 2025 to $2.3B in Q2 2026.
What drove NVR's revenue change in Q2 2026?
Home Building Segment −$268M (-11%); Mortgage Banking −$4.0M (-8%).