NVIDIA CORP NVDA
NVIDIA pioneered accelerated computing to help solve the most challenging computational problems. NVIDIA is now a data center scale AI infrastructure company reshaping all industries.
Our technology stack includes the foundational NVIDIA CUDA development platform that runs on all NVIDIA GPUs, as well as hundreds of domain-specific software libraries, frameworks, algorithms, software development kits, or SDKs, and application programming interfaces, or APIs. This deep and broad software stack accelerates the performance and facilitates the deployment of NVIDIA accelerated computing for computationally intensive workloads such as artificial intelligence, or AI, model training and inference, data analytics, scientific computing, robotics, and 3D graphics, with vertical-specific optimizations to address industries ranging from healthcare and telecom to automotive and manufacturing.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $215.94B | $130.50B | $60.92B | $26.97B | $26.91B | $16.68B | $10.92B | $11.72B | $9.71B | $6.91B |
| Cost of revenue | $62.48B | $32.64B | $16.62B | $11.62B | $9.44B | $6.28B | $4.15B | $4.54B | $3.89B | $2.85B |
| Gross profit | $153.46B | $97.86B | $44.30B | $15.36B | $17.48B | $10.40B | $6.77B | $7.17B | $5.82B | $4.06B |
| R&D | $18.50B | $12.91B | $8.68B | $7.34B | $5.27B | $3.92B | $2.83B | $2.38B | $1.80B | $1.46B |
| SG&A | $4.58B | $3.49B | $2.65B | $2.44B | $2.17B | $1.94B | $1.09B | $991.0M | $815.0M | $663.0M |
| Total operating expenses | $23.08B | $16.41B | $11.33B | $11.13B | $7.43B | $5.86B | $3.92B | $3.37B | $2.61B | $2.13B |
| Operating income | $130.39B | $81.45B | $32.97B | $4.22B | $10.04B | $4.53B | $2.85B | $3.80B | $3.21B | $1.93B |
| Interest expense | $259.0M | $247.0M | $257.0M | $262.0M | $236.0M | $184.0M | $52.0M | $58.0M | $61.0M | $58.0M |
| Pre-tax income | $141.45B | $84.03B | $33.82B | $4.18B | $9.94B | $4.41B | $2.97B | $3.90B | $3.20B | $1.91B |
| Income tax | $21.38B | $11.15B | $4.06B | $187.0M | $189.0M | $77.0M | $174.0M | $245.0M | $149.0M | $239.0M |
| Net income | $120.07B | $72.88B | $29.76B | $4.37B | $9.75B | $4.33B | $2.80B | $4.14B | $3.05B | $1.67B |
| EPS, basic | 4.93 | 2.97 | 1.21 | 0.18 | 3.91 | 1.76 | 1.15 | 6.81 | 5.09 | 3.08 |
| EPS, diluted | 4.90 | 2.94 | 1.19 | 0.17 | 3.85 | 1.73 | 1.13 | 6.63 | 4.82 | 2.57 |
| Shares, diluted (wtd. avg.) | $24.51B | $24.80B | $24.94B | $25.07B | $2.54B | $2.51B | $2.47B | $625.0M | $632.0M | $649.0M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $10.61B | $8.59B | $7.28B | $3.39B | $1.99B | $847.0M | $10.90B | $782.0M | $4.00B | $1.77B |
| Short-term investments | — | $34.62B | $18.70B | $9.91B | $19.22B | $10.71B | $1.0M | $6.64B | $3.11B | $5.03B |
| Receivables | $38.47B | $23.07B | $10.00B | $3.83B | $4.65B | $2.43B | $1.66B | $1.42B | $1.26B | $826.0M |
| Inventory | $21.40B | $10.08B | $5.28B | $5.16B | $2.60B | $1.83B | $979.0M | $1.57B | $796.0M | $794.0M |
| Total current assets | $125.61B | $80.13B | $44.34B | $23.07B | $28.83B | $16.05B | $13.69B | $10.56B | $9.26B | $8.54B |
| Property, plant and equipment | $10.38B | $6.28B | $3.91B | $3.81B | $2.78B | $2.15B | $1.67B | $1.40B | $997.0M | $521.0M |
| Goodwill | $20.83B | $5.19B | $4.43B | $4.37B | $4.35B | $4.19B | $618.0M | $618.0M | $618.0M | $618.0M |
| Other intangibles | $3.31B | $807.0M | $1.11B | $1.68B | $2.34B | $2.74B | $49.0M | $45.0M | $52.0M | $104.0M |
| Total assets | $206.80B | $111.60B | $65.73B | $41.18B | $44.19B | $28.79B | $17.32B | $13.29B | $11.24B | $9.84B |
| Accounts payable | $9.81B | $6.31B | $2.70B | $1.19B | $1.78B | $1.15B | $687.0M | $511.0M | $596.0M | $485.0M |
| Short-term debt | $999.0M | $0 | $1.25B | $1.25B | $0 | $999.0M | $0 | — | — | — |
| Total current liabilities | $32.16B | $18.05B | $10.63B | $6.56B | $4.33B | $3.92B | $1.78B | $1.33B | $1.15B | $1.79B |
| Long-term debt | $7.47B | $8.46B | $8.46B | $9.70B | $10.95B | $5.96B | $1.99B | $1.99B | $1.99B | $1.98B |
| Total liabilities | $49.51B | $32.27B | $22.75B | $19.08B | $17.57B | $11.90B | $5.11B | $3.95B | $3.77B | $4.05B |
| Retained earnings | $146.97B | $68.04B | $29.82B | $10.17B | $16.23B | $18.91B | $14.97B | $12.56B | $8.79B | $6.11B |
| Total equity | $157.29B | $79.33B | $42.98B | $22.10B | $26.61B | $16.89B | $12.20B | $9.34B | $7.47B | $5.76B |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $102.72B | $64.09B | $28.09B | $5.64B | $9.11B | $5.82B | $4.76B | $3.74B | $3.50B | $1.67B |
| Depreciation and amortisation | $2.84B | $1.86B | $1.51B | $1.54B | $1.17B | $1.10B | $381.0M | $233.0M | $144.0M | $118.0M |
| Stock-based compensation | $6.39B | $4.74B | $3.55B | $2.71B | $2.00B | $1.40B | $844.0M | $557.0M | $391.0M | $247.0M |
| Capital expenditure | $6.04B | $3.24B | $1.07B | $1.83B | $976.0M | — | — | — | — | — |
| Investing cash flow | -$52.23B | -$20.42B | -$10.57B | $7.38B | -$9.83B | -$19.68B | $6.14B | -$4.10B | $1.28B | -$793.0M |
| Financing cash flow | -$48.47B | -$42.36B | -$13.63B | -$11.62B | $1.86B | $3.80B | -$792.0M | -$2.87B | -$2.54B | $291.0M |
| Dividends paid | $974.0M | $834.0M | $395.0M | $398.0M | $399.0M | $395.0M | $390.0M | $371.0M | $341.0M | $261.0M |
| Buybacks | $40.09B | $33.71B | $9.53B | $10.04B | $0 | $0 | $0 | $1.58B | $909.0M | $739.0M |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001045810-26-000036.
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| INTC | INTEL CORP | $483.22B | — | -0.5% |
| AMAT | APPLIED MATERIALS INC /DE | $360.86B | 52.5x | 4.4% |
| TXN | TEXAS INSTRUMENTS INC | $236.02B | 47.4x | 13.0% |
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| ADI | ANALOG DEVICES INC | $175.53B | 79.4x | 16.9% |