AutoZone, Goldman Sachs, NVR, and TransDigm remain among the few S&P 500 stocks without splits in decades, despite market pressure.
AutoZone, Goldman Sachs, NVR, and TransDigm continue to resist stock splits, diverging from a broader market trend favoring lower share prices to attract retail investors. None of the four companies has announced or hinted at a split, despite peers adopting the practice in recent years.
NVR, the most extreme holdout, has never split its stock and closed at $6,032.82 on May 26, 2026, with a $16.3 billion market cap. The company reported a challenging Q1 2026, missing earnings estimates with EPS of $67.76 versus a $79.20 consensus, while revenue fell 22% year over year. AutoZone and Goldman Sachs last split in 1991 and 2000, respectively, while TransDigm has historically favored special dividends over splits.
The reluctance to split comes as other high-priced stocks, including NVIDIA and Tesla, have used splits to broaden retail investor access. Analysts suggest NVR’s persistently high share price may be the least likely to change, given its long-standing policy.