{"contract": "sm-investment-case-1", "found": true, "available": true, "as_of": "2026-09-11", "checked_on": "2026-09-20", "listing": {"uuid": "b3ed1fcf-cb7a-4415-bb07-aada26523b1e", "symbol": "NVR", "name": "NVR Inc", "exchange": "NYSE", "country": "US", "sector": "Consumer Cyclical", "industry": "Residential Construction"}, "business_type": "Operating company", "price": {"value": 6160.76, "currency": "USD", "as_of": "2026-09-11", "basis": "Completed weekly quoted close; before dividends"}, "assessment": {"available": false, "rating": "Not rated", "target_price": null, "target_date": null, "price_change_to_target_pct": null, "currency": "USD", "reviewed_on": "2026-09-17", "explanation": "A target is not published until the required checks pass. At least three consecutive annual USD results with sales, operating profit and capital spending are required.", "assumptions": []}, "review": {"status": "Review needed", "last_checked": "2026-09-17T21:03:52.284379+00:00", "next_scheduled": "2026-12-16", "published_at": "2026-09-17T21:03:52.284379+00:00", "environment": "live", "publication_url": "https://sharemaestro.com/investment-case/record/2948/"}, "business_view": {"headline": "Lower valuation, stronger profitability.", "summary": "Borrowing is lower relative to earnings, but the profit margin narrowed.", "case_for": [{"headline": "Borrowing is lower relative to earnings", "explanation": "Net debt / EBITDA: -0.1\u00d7 for NVR, against 1.2\u00d7 across 12 comparable peers.", "evidence_url": "https://sharemaestro.com/investment-case/ticker/b3ed1fcf-cb7a-4415-bb07-aada26523b1e/#ic-peer-measures"}, {"headline": "The share count fell", "explanation": "Weighted diluted shares changed -7.5%. Compare this with buyback spending; splits and acquisitions can also change the count.", "evidence_url": "https://sharemaestro.com/investment-case/ticker/b3ed1fcf-cb7a-4415-bb07-aada26523b1e/#ic-shares-chart"}], "case_against": [{"headline": "The profit margin narrowed", "explanation": "The latest quarterly operating margin was 13.3%, -3.2 percentage points from a year earlier. Compare the sales and margin contributions below.", "evidence_url": "https://sharemaestro.com/investment-case/ticker/b3ed1fcf-cb7a-4415-bb07-aada26523b1e/#ic-profit-drivers"}, {"headline": "Year-to-date profit is lower", "explanation": "Across 2 completed quarters since 2025-12-31, net income was 434.8m versus 633.3m in the matching prior-year periods (USD). Check whether the latest quarter changes that direction.", "evidence_url": "https://sharemaestro.com/investment-case/ticker/b3ed1fcf-cb7a-4415-bb07-aada26523b1e/#ic-quarter-profit"}]}, "watch_points": [], "financial_period": "2026-06-30", "next_results": "2026-10-28", "data_notes": ["Financial totals have been checked against their reporting periods. Only matching twelve-month figures are used; unsupported measures remain blank."], "canonical_url": "https://sharemaestro.com/investment-case/ticker/b3ed1fcf-cb7a-4415-bb07-aada26523b1e/", "pdf_url": "https://sharemaestro.com/investment-case/ticker/b3ed1fcf-cb7a-4415-bb07-aada26523b1e/download.pdf", "limitations": ["The published assessment stays fixed between governed reviews. Scenarios edited in the browser do not change it.", "Each financial period and price date is separate. Company coverage varies.", "Targets exclude dividends, fees and tax. A missing target is unavailable, not zero.", "Preview assessments are identified and do not establish a live performance record."], "disclaimer": "Automated model research, not personal investment advice. Targets depend on assumptions; returns are not guaranteed.", "revision": "63f0c8bb1a6e7735d93ea65a2e959cd7c8cd3402cef82cd85c39b10bf03d4fad"}