2005 Post 200

NVR Inc.

7601 Lewinsville Rd., Suite 300

McLean, Va. 22102


Year founded: 1980

Industry: Real estate

Post 200 Category: Top 125 Companies

Revenue: $4.33 Billion

Net Income/Loss: $523.20 Million

Earnings per share: $66.42

Dividend: n/a

Stockholder equity: $835.00 Million

Auditor: KPMG LLP

Stock: NVR

Assets: $1.78 Billion

Market capitalization: $5.26 Billion

52-week high: 819.49 2/7/2005

52-week low: 405.13 5/10/2004

Chairman and CEO: Dwight C. Schar

CFO: Paul C. Saville

Employees: 4400

Local employees: 1000

Description: NVR, the region's largest homebuilder, is the nation's sixth-biggest such company based on revenue and the 10th-biggest based on number of houses sold. It sold 13,231 homes in 2004 in 19 metropolitan areas under the brand names Ryan Homes, NVHomes and Fox Ridge Homes. It also sells mortgage, settlement and title services to buyers of its houses through its NVR Mortgage and NVR Settlement Services arms. It does business mainly on the East Coast, from South Carolina to New York.

Developments: NVR has been riding the housing boom of the past few years and sees no end in sight, unless interest rates shoot up unexpectedly. Profit in 2004 rose 25 percent to $523.2 million, the 10th straight year of record earnings for a company that has also seen hard times: It went through Chapter 11 bankruptcy reorganization in the early 1990s recession. The number of home sale closings rose 6 percent for the year, driving up income from the building business 29 percent. New orders for future home sales were up 5 percent, a little higher than in 2003 but consistent with past performance. The number of homes sold but not built at the end of 2004 7,372 units was 7 percent higher than the 6,890 units at the end of 2003. NVR's growth has been propelled by mortgage rates that remain near record lows. If rates rise sharply, home sales would probably suffer, one of the key risks analysts identify for NVR's outlook. NVR's stock has climbed steadily despite warnings that the housing boom could be at its peak. Its stock gained 65 percent in 2004 thanks to the best housing market in history and aggressive stock buybacks. Some critics worry about the size of insiders' stock sales $220 million in 2004, according to Thomson Financial and that the company's aggressive buyback is helping boost the price. In early January 2005, NVR continued to expand its operations, buying Rymark Homes of Columbia, S.C., for an undisclosed amount. Rymark operates mostly in and around Columbia in a market geared mostly toward first-time home buyers.

Executive Compensation
Chairman, President and CEO: Dwight C. Schar
Total Cash: $3,400,000.00
Total Compensation: $3,410,500.00

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