Ensemble Capital senior investment analyst Todd Wenning recently presented our current thesis on homebuilder NVR at the MOI Wide Moat Investing Summit.

Among other topics, Todd discussed how NVR has established a moat in an industry that doesn’t lend itself well to moat creation. As land and labor become scarcer, NVR’s strong balance sheet, its manufacturing focus, and its strategy to maximize local market share should pay dividends in the homebuilding industry over the next decade and beyond.

You can listen to the 41-minute audio recording and view the slideshow presentation by CLICKING HERE.

For additional thoughts on NVR, please see the following blog posts: NVR: A Homebuilder with a Unique Business Model and Culture and NVR: Primed to Capitalized on a Weak Housing Market

 

For more information about positions owned by Ensemble Capital on behalf of clients as well as additional disclosure information related to this post, please CLICK HERE.

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