Keep pulling the thread on Kyle Grieve.
NVR has decreased its share count by 80% over the last three decades through a consistent buyback program.
NVR's share price increased from approximately $10 in 1996 to $5,900 at the time of the recording.
NVR has reduced its outstanding shares from 14.3 million at its IPO in the late 1980s to 2.8 million currently.
NVR has compounded its earnings per share (EPS) at slightly over 15% annually since the year 2000.
NVR's business model is differentiated by not owning land, instead using lot purchase agreements (LPAs) with a 10% deposit to reduce risk.
NVR was the only publicly traded homebuilder to remain profitable during the Great Financial Crisis.
NVR's board recently approved a $750 million share buyback authorization, bringing the total current authorization to approximately $1.5 billion.
NVR's share price increased from approximately $10 in 1996 to around $6,200 as of the time of the podcast.
Since 1996, NVR's stock has appreciated by 62,000%, significantly outperforming the S&P 500's 1,800% return over the same period.
NVR ranks number one in the homebuilding industry for average returns on capital.
Over the last 15 years, NVR has compounded its revenue by 8% per year.
NVR has compounded its net income at 12.5% per year over the last 15 years.