NVR Inc (NVR)

Pretax margin

		Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020
Earnings before tax but after interest (EBT) (ttm)	US$ in thousands	2,115,506	2,026,919	2,027,647	1,965,255	1,928,373	2,019,048	2,018,223	2,121,059	2,253,194	2,105,277	2,000,889	1,844,342	1,590,403	1,548,968	1,436,298	1,228,664	1,078,033	987,965	933,682	968,563
Revenue (ttm)	US$ in thousands	10,524,480	10,111,440	9,947,510	9,673,380	9,518,200	9,797,810	10,005,690	10,326,300	10,526,430	10,044,590	9,663,330	9,287,990	8,951,030	9,064,710	8,659,080	7,995,850	7,536,930	7,183,110	7,104,360	7,284,180
Pretax margin		20.10%	20.05%	20.38%	20.32%	20.26%	20.61%	20.17%	20.54%	21.41%	20.96%	20.71%	19.86%	17.77%	17.09%	16.59%	15.37%	14.30%	13.75%	13.14%	13.30%

December 31, 2024 calculation

Pretax margin = EBT (ttm) ÷ Revenue (ttm)
= $2,115,506K ÷ $10,524,480K
= 20.10%

NVR Inc's pretax margin has shown a generally increasing trend over the analyzed period from March 31, 2020, to December 31, 2024. The pretax margin started at 13.30% in March 2020 and steadily increased to 20.10% by December 31, 2024. This signifies that the company's profitability before taxes improved consistently during this period.

There were fluctuations in the pretax margin over the quarters, with some periods experiencing higher growth rates compared to others. For instance, there was a notable increase in pretax margin from March 31, 2022, to June 30, 2022, where the margin jumped from 19.86% to 20.71%. However, there were slight declines in the pretax margin in some quarters, such as from March 31, 2023, to June 30, 2023, and from September 30, 2024, to December 31, 2024.

Overall, the increasing pretax margin indicates that NVR Inc has been effectively managing its costs and expenses relative to its revenue, leading to improved profitability before accounting for taxes. This trend suggests a positive financial performance and operational efficiency within the company during the period under review.