NVR (BSP:N1VR34) Cyclically Adjusted PB Ratio: 6.52 (As of Aug. 05, 2026) — 28% Below Median

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Director of Data and Quant Analytics at GuruFocus
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Founder & CEO of GuruFocus
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.

BSP:N1VR34 NVR Inc BSP:N1VR34
88 GF Score
Price R$657.15
GF Value R$790.52
! 1 Warning Sign
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What is NVR Cyclically Adjusted PB Ratio?

NVR BSP:N1VR34 88 Cyclically Adjusted PB Ratio is 6.52 as of Aug. 05, 2026, which is 28% below its 10-year median of 9.03. GuruFocus rates BSP:N1VR34 with a GF Score™ of 88/100 and a GF Value™ of R$790.52. The stock has 1 warning sign investors should review. Among 74 Homebuilding & Construction companies, NVR ranks worse than 95.95% on this metric.

As of today (2026-08-05), NVR's current share price is R$657.15. NVR's Cyclically Adjusted Book per Share for the quarter that ended in Mar. 2026 was R$100.74. NVR's Cyclically Adjusted PB Ratio for today is 6.52.

The historical rank and industry rank for NVR's Cyclically Adjusted PB Ratio or its related term are showing as below:

BSP:N1VR34' s Cyclically Adjusted PB Ratio Range Over the Past 10 Years
Min: 5.02   Med: 9.03   Max: 12.49
Current: 6.27

During the past years, NVR's highest Cyclically Adjusted PB Ratio was 12.49. The lowest was 5.02. And the median was 9.03.

BSP:N1VR34's Cyclically Adjusted PB Ratio is ranked worse than
95.95% of 74 companies
in the Homebuilding & Construction industry
Industry Median: 1.105 vs BSP:N1VR34: 6.27

The Shiller PE Ratio was first used by professor Robert Shiller. He uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings per share of a company over the past 10 years. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PB Ratio. The Cyclically Adjusted Book per Share is the average of the inflation adjusted book value per share of a company over the past 10 years.

NVR's adjusted book value per share data for the three months ended in Mar. 2026 was R$133.775. Add all the adjusted book value per share for the past 10 years together and divide the count will get our Cyclically Adjusted Book per Share, which is R$100.74 for the trailing ten years ended in Mar. 2026.

Shiller PE for Stocks: The True Measure of Stock Valuation


NVR  (BSP:N1VR34) Cyclically Adjusted PB Ratio Explanation

Compared with the regular PB Ratio, which works poorly for cyclical businesses, the Cyclically Adjusted PB Ratio smoothed out the fluctuations of book value during business cycles. Therefore it is more accurate in reflecting the valuation of the company.

If a company has consistent business performance, the Cyclically Adjusted PB Ratio should give similar results to regular PB Ratio.


NVR Cyclically Adjusted PB Ratio Related Terms


NVR Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for NVR's Cyclically Adjusted PB Ratio can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

NVR Cyclically Adjusted PB Ratio Chart

NVR Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Cyclically Adjusted PB Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only 11.61 7.69 9.82 9.80 7.67

NVR Quarterly Data
Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26 Jun26
Cyclically Adjusted PB Ratio Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 8.21 8.64 7.67 6.66 0.00

BSP:N1VR34 vs LEN, TOL, PHM: Cyclically Adjusted PB Ratio Comparison

For the Residential Construction subindustry, NVR's Cyclically Adjusted PB Ratio, along with its competitors' market caps and Cyclically Adjusted PB Ratio data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


NVR Cyclically Adjusted PB Ratio vs Homebuilding & Construction Industry

For the Homebuilding & Construction industry and Consumer Cyclical sector, NVR's Cyclically Adjusted PB Ratio distribution charts can be found below:

* The bar in red indicates where NVR's Cyclically Adjusted PB Ratio falls into.


BSP:N1VR34
88GF Score
NVR Inc BSP:N1VR34
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

NVR Cyclically Adjusted PB Ratio Calculation

Like the Shiller PE Ratio, the Cyclically Adjusted PB Ratio takes the Book Value per Share from the past 10 years, adjusts it for inflation, and then calculates the average. This average is then used for the P/B calculation. Because it considers this 10-year average, it's often referred to as the CAPB Ratio.

The Shiller PE Ratio was first used by professor Robert Shiller to measure the valuation of the overall market. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PB Ratio.

NVR's Cyclically Adjusted PB Ratio for today is calculated as

Cyclically Adjusted PB Ratio=Share Price/ Cyclically Adjusted Book per Share
=657.15/100.74
=6.52

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

NVR's Cyclically Adjusted Book per Share for the quarter that ended in Mar. 2026 is calculated as:

For example, NVR's adjusted Book Value per Share data for the three months ended in Mar. 2026 was:

Adj_Book=Book Value per Share/CPI of Mar. 2026 (Change)*Current CPI (Mar. 2026)
=133.775/330.2130*330.2130
=133.775

Current CPI (Mar. 2026) = 330.2130.

NVR Quarterly Data

Book Value per Share CPI Adj_Book
201606 23.848 241.018 32.674
201609 22.307 241.428 30.510
201612 23.694 241.432 32.407
201703 23.580 243.801 31.938
201706 27.009 244.955 36.410
201709 27.682 246.819 37.035
201712 28.665 246.524 38.396
201803 26.582 249.554 35.174
201806 33.414 251.989 43.787
201809 38.454 252.439 50.301
201812 39.260 251.233 51.602
201903 40.619 254.202 52.765
201906 44.856 256.143 57.827
201909 52.833 256.759 67.948
201912 52.905 256.974 67.983
202003 64.292 258.115 82.250
202006 73.483 257.797 94.125
202009 84.782 260.280 107.562
202012 86.397 260.474 109.529
202103 94.337 264.877 117.607
202106 85.484 271.696 103.895
202109 90.683 274.310 109.164
202112 98.497 278.802 116.660
202203 81.836 287.504 93.993
202206 91.963 296.311 102.485
202209 100.721 296.808 112.057
202212 114.291 296.797 127.159
202303 123.568 301.836 135.185
202306 123.652 305.109 133.826
202309 132.809 307.789 142.485
202312 138.504 306.746 149.100
202403 136.596 312.332 144.416
202406 144.102 314.175 151.458
202409 154.355 315.301 161.655
202412 170.576 315.605 178.471
202503 154.664 319.799 159.701
202506 147.920 322.561 151.429
202509 148.721 324.800 151.200
202512 150.645 324.054 153.508
202603 133.775 330.213 133.775

Add all the adjusted book value per share together and divide the count will get our Cyclically Adjusted Book per Share.

Please note that we use the CPI data of the country/region where the company is headquartered. If the CPI data for that country/region is not available, then we will use the CPI data of the United States as default.

What does a Cyclically Adjusted PB Ratio of 6.52 mean?
NVR (BSP:N1VR34) has a Cyclically Adjusted PB Ratio of 6.52 as of Aug. 05, 2026. Cyclically Adjusted PB Ratio is the ratio of share price to a company's inflation-adjusted book value per share over a 10-year period. View historical data on NVR and its competitors. This is 28% below median its historical median of 9.03. Over the past decade, NVR's Cyclically Adjusted PB Ratio has ranged from 5.02 to 12.49. According to the industry distribution chart, NVR ranks #71 out of 74 companies in the Homebuilding & Construction industry, placing it in the top 95.9%.
Is NVR's Cyclically Adjusted PB Ratio too high?
NVR's current Cyclically Adjusted PB Ratio of 6.52 is 28% below median its 10-year median of 9.03. Over the past 10 years, this metric has ranged from a low of 5.02 to a high of 12.49. The Homebuilding & Construction industry median Cyclically Adjusted PB Ratio is 1.11. NVR's value of 6.52 is 490% above this industry median. Based on the distribution chart, NVR ranks #71 out of 74 companies in the Homebuilding & Construction industry, which is in the bottom quartile relative to peers. Overall, NVR has a GF Score™ of 88/100, reflecting its overall financial health beyond just this single metric.
How does NVR's Cyclically Adjusted PB Ratio compare to LEN and TOL?
According to the Homebuilding & Construction industry distribution chart, NVR ranks #71 out of 74 companies for Cyclically Adjusted PB Ratio. This places NVR in the lower half of its industry. The industry median Cyclically Adjusted PB Ratio is 1.11. NVR's value of 6.52 is 490% above this benchmark. Historically, NVR's own Cyclically Adjusted PB Ratio has ranged from 5.02 to 12.49 over the past decade. While the company's 10-year median is 9.03 vs. the industry median of 1.11, NVR has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Cyclically Adjusted PB Ratio for a Homebuilding & Construction company?
The median Cyclically Adjusted PB Ratio among Homebuilding & Construction companies is 1.11, based on 74 companies in the industry. Companies in the top quartile (top 25%) have a Cyclically Adjusted PB Ratio significantly above this median, while those in the bottom quartile fall well below. However, Cyclically Adjusted PB Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. NVR's current Cyclically Adjusted PB Ratio of 6.52 is 490% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Cyclically Adjusted PB Ratio mean?
A high Cyclically Adjusted PB Ratio can signal that a stock is expensive relative to its fundamentals. Cyclically Adjusted PB Ratio is the ratio of share price to a company's inflation-adjusted book value per share over a 10-year period. View historical data on NVR and its competitors. For the Homebuilding & Construction industry, the median Cyclically Adjusted PB Ratio is 1.11 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. NVR's current Cyclically Adjusted PB Ratio is 6.52, which is 28% below median its own 10-year median of 9.03. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is NVR stock overvalued right now?
NVR (BSP:N1VR34) has a current Cyclically Adjusted PB Ratio of 6.52. The stock's GF Value™ is R$790.52, compared to a current price of R$657.15 — trading 16.9% below its estimated fair value. The current Cyclically Adjusted PB Ratio is 6.52, which is 28% below median its 10-year median of 9.03 and 490% above the Homebuilding & Construction industry median of 1.11. NVR's overall GF Score™ is 88/100 with 1 warning sign to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Cyclically Adjusted PB Ratio calculated?
Cyclically Adjusted PB Ratio is calculated from a company's financial statements. For NVR (BSP:N1VR34), the current Cyclically Adjusted PB Ratio is 6.52 as of Aug. 05, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is NVR (BSP:N1VR34) Overvalued in 2026?

Based on GuruFocus' analysis, NVR stock appears to be undervalued. The current stock price of R$657.15 is trading 16.9% below its estimated GF Value™ of R$790.52.

Key valuation signals for BSP:N1VR34:

  • Cyclically Adjusted PB Ratio: 6.52 (28% below median its 10-year median of 9.03)
  • GF Value™: R$790.52 vs. price of R$657.15 (16.9% below fair value)
  • GF Score™: 88/100 with 1 warning sign
  • Industry Position: 490% above the Homebuilding & Construction median (#71 of 74)

No single metric tells the full story. See the BSP:N1VR34 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


NVR Business Description

Other Exchanges NVR:USA
Address 11700 Plaza America Drive, Suite 500, Reston, VA, USA, 20190
NVR Inc is engaged in the construction and sale of residential properties, including single-family detached homes, townhomes, and condominium buildings, all of which are built on a pre-sold basis. Additionally, the company provides related services through its mortgage banking and title services businesses. Its business segments are Homebuilding and Mortgage Banking. Its geographical segments include the Mid Atlantic, the North East, the Mid East, and the South East regions of America. The majority of the company's revenue is derived from the Homebuilding Mid Atlantic segment, which includes homebuilding operations that construct and sell single-family detached homes, townhomes and condominiums in Maryland, Virginia, West Virginia, Delaware and Washington, D.C. regions.
88GF Score

Get the complete analysis for BSP:N1VR34

Cyclically Adjusted PB Ratio is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

R$657.15
Price
R$790.52
GF Value