Business Description
NVIDIA Corporation is an American multinational technology company that designs and supplies graphics processing units (GPUs), application programming interfaces (APIs), and system on a chip units (SoCs). Headquartered in Santa Clara, California, the company is the dominant supplier of artificial intelligence hardware and software. NVIDIA's chips are foundational to modern AI development, high-performance computing, and the gaming industry.
Financial Statements
In thousands, USD
| FY 2026 | FY 2025 | FY 2024 | FY 2023 | |
|---|---|---|---|---|
| Total Revenues | 215,938,000 | 130,497,000 | 60,922,000 | 26,974,000 |
| Cost of Sales | 62,475,000 | 32,639,000 | 16,621,000 | 11,618,000 |
| Gross Profit | 153,463,000 | 97,858,000 | 44,301,000 | 15,356,000 |
| Selling, General & Administrative Expenses | 4,579,000 | 3,491,000 | 2,654,000 | 2,440,000 |
| Research & Development Expenses | 18,497,000 | 12,914,000 | 8,675,000 | 7,339,000 |
| Other Operating Expenses | — | — | — | 1,353,000 |
| Operating Profit | 130,387,000 | 81,453,000 | 32,972,000 | 4,224,000 |
| Interest and Investment Income | 2,300,000 | 1,786,000 | 866,000 | 267,000 |
| Interest Expense | (259,000) | (247,000) | (257,000) | (262,000) |
| Non-Operating Income | 9,022,000 | 1,034,000 | 237,000 | (48,000) |
| Total Non-Operating Income | 11,063,000 | 2,573,000 | 846,000 | (43,000) |
| Income Before Provision for Income Taxes | 141,450,000 | 84,026,000 | 33,818,000 | 4,181,000 |
| Provision for Income Taxes | 21,383,000 | 11,146,000 | 4,058,000 | (187,000) |
| Consolidated Net Income | 120,067,000 | 72,880,000 | 29,760,000 | 4,368,000 |
| Net Income Attributable to Common Shareholders | 120,067,000 | 72,880,000 | 29,760,000 | 4,368,000 |
| Basic EPS | 4.93 | 2.97 | 1.21 | 0.18 |
| Diluted EPS | 4.90 | 2.94 | 1.19 | 0.17 |
| Basic Weighted Average Shares Outstanding | 24,359,000 | 24,555,000 | 24,690,000 | 24,870,000 |
| Diluted Weighted Average Shares Outstanding | 24,514,000 | 24,804,000 | 24,940,000 | 25,070,000 |
| Shares Outstanding | 24,304,000 | 24,477,000 | 24,640,000 | 24,660,000 |
| FY 2026 | FY 2025 | FY 2024 | FY 2023 | |
|---|---|---|---|---|
| Cash and Cash Equivalents | 10,605,000 | 8,589,000 | 7,280,000 | 3,389,000 |
| Short-Term Investments | 51,951,000 | 34,621,000 | 18,704,000 | 9,907,000 |
| Total Cash and Cash Equivalents | 62,556,000 | 43,210,000 | 25,984,000 | 13,296,000 |
| Accounts Receivable | 38,466,000 | 23,065,000 | 9,999,000 | 3,827,000 |
| Total Trade Receivables | 38,466,000 | 23,065,000 | 9,999,000 | 3,827,000 |
| Inventories | 21,403,000 | 10,080,000 | 5,282,000 | 5,159,000 |
| Other Current Assets | 3,180,000 | 3,771,000 | 3,080,000 | 791,000 |
| Total Current Assets | 125,605,000 | 80,126,000 | 44,345,000 | 23,073,000 |
| Net Property, Plant & Equipment | 13,250,000 | 8,076,000 | 5,260,000 | 4,845,000 |
| Net Intangible Assets | 3,306,000 | 807,000 | 1,112,000 | 1,676,000 |
| Goodwill | 20,832,000 | 5,188,000 | 4,430,000 | 4,372,000 |
| Long-Term Investments | 22,251,000 | 3,387,000 | — | — |
| Other Long-Term Assets | 21,559,000 | 14,017,000 | 10,581,000 | 7,216,000 |
| Total Assets | 206,803,000 | 111,601,000 | 65,728,000 | 41,182,000 |
| Accounts Payable | 9,812,000 | 6,310,000 | 2,699,000 | 1,193,000 |
| Accrued Expenses | 21,352,000 | 11,737,000 | 6,682,000 | 4,120,000 |
| Short-Term Debt | 999,000 | — | 1,250,000 | 1,250,000 |
| Total Current Liabilities | 32,163,000 | 18,047,000 | 10,631,000 | 6,563,000 |
| Long-Term Debt | 7,469,000 | 8,463,000 | 8,459,000 | 9,703,000 |
| Leases | 2,572,000 | 1,519,000 | 1,119,000 | 902,000 |
| Other Long-Term Liabilities | 7,306,000 | 4,245,000 | 2,541,000 | 1,913,000 |
| Total Long-Term Liabilities | 17,347,000 | 14,227,000 | 12,119,000 | 12,518,000 |
| Total Liabilities | 49,510,000 | 32,274,000 | 22,750,000 | 19,081,000 |
| Common Stock | 24,000 | 24,000 | 25,000 | 2,000 |
| Additional Paid-in Capital | 10,118,000 | 11,237,000 | 13,109,000 | 11,971,000 |
| Accumulated Other Comprehensive Income | 178,000 | 28,000 | 27,000 | (43,000) |
| Retained Earnings | 146,973,000 | 68,038,000 | 29,817,000 | 10,171,000 |
| Total Common Shareholders' Equity | 157,293,000 | 79,327,000 | 42,978,000 | 22,101,000 |
| Total Shareholders' Equity | 157,293,000 | 79,327,000 | 42,978,000 | 22,101,000 |
| Total Liabilities and Shareholders' Equity | 206,803,000 | 111,601,000 | 65,728,000 | 41,182,000 |
| FY 2026 | FY 2025 | FY 2024 | FY 2023 | |
|---|---|---|---|---|
| Net Income | 120,067,000 | 72,880,000 | 29,760,000 | 4,368,000 |
| Depreciation & Amortization | 2,843,000 | 1,864,000 | 1,508,000 | 1,544,000 |
| Share-Based Compensation Expense | 6,386,000 | 4,737,000 | 3,549,000 | 2,709,000 |
| Other Adjustments | (10,629,000) | (6,009,000) | (3,005,000) | (773,000) |
| Changes in Trade Receivables | (15,399,000) | (13,063,000) | (6,172,000) | 822,000 |
| Changes in Inventories | (11,324,000) | (4,781,000) | (98,000) | (2,554,000) |
| Changes in Accounts Payable | 3,096,000 | 3,357,000 | 1,531,000 | (551,000) |
| Changes in Accrued Expenses | 5,257,000 | 4,278,000 | 2,025,000 | 1,341,000 |
| Changes in Other Operating Activities | 2,421,000 | 826,000 | (1,008,000) | (1,265,000) |
| Cash from Operating Activities | 102,718,000 | 64,089,000 | 28,090,000 | 5,641,000 |
| Capital Expenditure | (6,042,000) | (3,236,000) | (1,069,000) | (1,833,000) |
| Purchases of Investments | (40,616,000) | (26,575,000) | (18,211,000) | (11,897,000) |
| Proceeds from Sale of Investments | 26,467,000 | 11,861,000 | 9,783,000 | 21,239,000 |
| Payments for Business Acquisitions | (14,535,000) | (1,007,000) | (83,000) | (49,000) |
| Other Investing Activities | (17,502,000) | (1,464,000) | (986,000) | (85,000) |
| Cash from Investing Activities | (52,228,000) | (20,421,000) | (10,566,000) | 7,375,000 |
| Repayments of Long-Term Debt | — | (1,250,000) | (1,250,000) | — |
| Net Issuance / (Repayments) of Long-Term Debt | — | (1,250,000) | (1,250,000) | — |
| Issuance of Common Shares | 644,000 | 490,000 | 403,000 | 355,000 |
| Repurchases of Common Shares | (40,086,000) | (33,706,000) | (9,533,000) | (10,039,000) |
| Net Issuance / (Repurchases) of Common Shares | (39,442,000) | (33,216,000) | (9,130,000) | (9,684,000) |
| Common Share Dividends Paid | (974,000) | (834,000) | (395,000) | (398,000) |
| Other Financing Activities | (8,058,000) | (7,059,000) | (2,858,000) | (1,535,000) |
| Cash from Financing Activities | (48,474,000) | (42,359,000) | (13,633,000) | (11,617,000) |
| Increase / (Decrease) in Cash, Cash Equivalents and Restricted Cash | 2,016,000 | 1,309,000 | 3,891,000 | 1,399,000 |
Key Metrics & Ratios
| Metric | Value |
|---|---|
| Market Cap | $4561.13B |
| P/E | 38.30x |
| P/S | 21.12x |
| EV/EBITDA | 33.85x |
| Return on Equity | 101.5% |
| Return on Invested Capital | 135.4% |
| Current Ratio | 3.91x |
| Dividend Yield | 0.0% |
| Free Cash Flow Margin | 44.8% |
Margins
Gross margin
71.1%
Operating margin
60.4%
Net margin
55.6%
Quarterly Trend
| Quarter | Revenue | YoY growth | Operating margin | Operating income |
|---|---|---|---|---|
| Q1 2027 | $81.61B | +85.2% | 65.6% | $53.54B |
| Q4 2026 | $68.13B | +73.2% | 65.0% | $44.30B |
| Q3 2026 | $57.01B | +62.5% | 63.2% | $36.01B |
| Q2 2026 | $46.74B | +55.6% | 60.8% | $28.44B |
| Q1 2026 | $44.06B | — | 49.1% | $21.64B |
| Q4 2025 | $39.33B | — | 61.1% | $24.03B |
| Q3 2025 | $35.08B | — | 62.3% | $21.87B |
| Q2 2025 | $30.04B | — | 62.1% | $18.64B |
More on NVIDIA Corporation
Figures compiled from public company filings.
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