Is NVIDIA financially healthy?

On 26 July 2026 NVIDIA held 99.37B USD in cash and short-term investments against total debt of 38.86B USD. Its current ratio is 4.59: what falls due within a year against what turns into cash within a year. Over the last twelve months it generated 127.01B USD of free cash flow.

NVIDIA's revenue grew 66.9% a year over its last five fiscal years, from 16.68B USD in fiscal year 2021 to 215.94B USD in fiscal year 2026. Over the last twelve months it was up 83.4% on the twelve months before.

Where can I find NVIDIA's annual report (10-K)?

NVIDIA files its annual report (Form 10-K) and its quarterly reports (Form 10-Q) with the US Securities and Exchange Commission, on its EDGAR site; the figures on these pages come from them.

NVIDIA
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NVDA

Arincen ScoreBeta90/100

90/100B

200.280

USD

-6.29

(-3.05%)

Post Trading·199.780USD-0.500(-0.25%)

Last updated: 4 Nov, 19:59 GMT-5 · Delayed 15 min

Fair value359.04Plus-44%269Price 200.28449

Q3 FY2027 · Earnings report

EPS estimate 2.47Revenue estimate 108.80B

Q3 FY2027 · Earnings report

Tuesday 17 November

EPS estimate 2.47Revenue estimate 108.80B

Fair value359.04Plus-44%269Price 200.28449

Q3 FY2027 · Earnings report

EPS estimate 2.47Revenue estimate 108.80B

Q3 FY2027 · Earnings report

Tuesday 17 November

EPS estimate 2.47Revenue estimate 108.80B

Overview Financials Signals News Forecast Earnings Dividends Company

NVIDIA financials

Yes. NVIDIA earned 192.88B USD of net income over the last twelve months, 63.7% of its revenue. It made a profit in 26 of its 28 fiscal years since 1999. Its last loss was in fiscal year 2010.

Revenue (TTM): 302.97B USD
Net income (TTM): 192.88B USD
Free cash flow (TTM): 127.01B USD
Cash and short-term investments: 99.37B USD
Total debt: 38.86B USD
Shareholders' equity: 228.98B USD

Cash, debt and equity as of 26 Jul 2026.

NVIDIA earnings

Next earnings · Q3 FY2027

17 Nov 2026

EPS estimate

2.47 USD

Revenue estimate

108.80B USD

Last quarter · Q2 FY2027

EPS2.22Beat +6.2%Revenue96.22BBeat +4.3%

Revenue

ReportedEstimate

EPS

ReportedEstimate

Period	Report date	EPS estimate	Reported EPS	Surprise	EPS growth	Revenue estimate	Reported revenue	Surprise	Revenue growth
Q2 FY2028	—	3.65	—	—	+64.31%	162.69B	—	—	+69.08%
Q1 FY2028	—	3.18	—	—	+69.83%	142.88B	—	—	+75.06%
Q4 FY2027	—	2.74	—	—	+68.87%	124.46B	—	—	+82.69%
Q3 FY2027	17 Nov 2026	2.47	—	—	+90.00%	108.80B	—	—	+90.86%
Q2 FY2027	26 Aug 2026	2.09	2.22	+6.22%	+111.43%	92.27B	96.22B	+4.28%	+105.85%
Q1 FY2027	20 May 2026	1.76	1.87	+6.25%	+130.86%	78.42B	81.62B	+4.07%	+85.23%
Q4 FY2026	25 Feb 2026	1.54	1.62	+5.19%	+82.02%	66.13B	68.13B	+3.03%	+73.21%
Q3 FY2026	19 Nov 2025	1.26	1.30	+3.17%	+60.49%	54.96B	57.01B	+3.72%	+62.41%
Q2 FY2026	27 Aug 2025	1.01	1.05	+3.96%	+54.41%	46.05B	46.74B	+1.51%	+55.60%
Q1 FY2026	28 May 2025	0.74	0.81	+9.91%	+32.79%	43.33B	44.06B	+1.68%	+69.18%

Period	EPS estimate	Reported EPS	Surprise	EPS growth	Revenue estimate	Reported revenue	Surprise	Revenue growth
FY2029	21.38	—	—	+35.22%	925.21B	—	—	+33.38%
FY2028	15.81	—	—	+70.15%	693.67B	—	—	+69.22%
FY2027	9.29	—	—	+94.36%	409.93B	—	—	+89.84%
FY2026	4.69	4.78	+1.83%	+59.87%	213.66B	215.94B	+1.07%	+65.45%
FY2025	2.95	2.99	+1.29%	+130.00%	129.43B	130.52B	+0.84%	+114.23%
FY2024	1.24	1.30	+4.90%	+282.35%	59.31B	60.92B	+2.72%	+125.85%
FY2023	0.33	0.34	+4.02%	-22.73%	26.95B	26.97B	+0.08%	+0.22%

NVIDIA growth and profitability

Full income statement

Revenue (TTM): 302.97B USD
Net income (TTM): 192.88B USD
Gross margin: 74.67%
Operating margin: 65.21%
Net margin: 63.66%

Revenue / Net income

Revenue Net income Net margin

Period	Revenue	Growth	Net income	Growth	Gross margin	Operating margin	Net margin	EBITDA	Growth
FY2026	215.94B	+65.47%	120.07B	+64.75%	71.07%	60.38%	55.60%	144.55B	+67.82%
FY2025	130.50B	+114.20%	72.88B	+144.89%	74.99%	62.42%	55.85%	86.14B	+142.07%
FY2024	60.92B	+125.85%	29.76B	+581.32%	72.72%	54.12%	48.85%	35.58B	+494.44%
FY2023	26.97B	+0.22%	4.37B	-55.21%	56.93%	15.66%	16.19%	5.99B	-47.26%
FY2022	26.91B	+61.40%	9.75B	+125.12%	64.93%	37.31%	36.23%	11.35B	+99.46%

Period	Revenue	Net income	Gross margin	Operating margin	Net margin
Q2 FY2027	96.22B	59.69B	74.98%	66.24%	62.03%
Q1 FY2027	81.62B	58.32B	74.93%	65.60%	71.46%
Q4 FY2026	68.13B	42.96B	75.00%	65.02%	63.06%
Q3 FY2026	57.01B	31.91B	73.41%	63.17%	55.98%
Q2 FY2026	46.74B	26.42B	72.42%	60.84%	56.53%

How NVIDIA makes its money

Data Center193.74B 89.7%

Gaming16.04B 7.4%

Professional Visualization3.19B 1.5%

Automotive2.35B 1.1%

OEM And Other619.00M 0.3%

Revenue215.94B 100.0%

Cost of revenue62.48B 28.9%

Gross profit153.46B 71.1%

Research and development18.50B 8.6%

Selling and administration4.58B 2.1%

Operating income130.39B 60.4%

Tax21.38B 9.9%

Net income120.07B 55.6%

FY2026, in USD. Each band is as wide as its money; the percentage is its share of revenue.

NVIDIA revenue breakdown

By product

FY2026

89.7%Data Center7.4%Gaming1.5%Professional Visualization1.1%Automotive0.3%OEM And Other

Segment	Revenue	Share of revenue	Change on the year
Data Center	193.74B	89.7%	+68.2%
Gaming	16.04B	7.4%	+41.3%
Professional Visualization	3.19B	1.5%	+69.9%
Automotive	2.35B	1.1%	+38.7%
OEM And Other	619.00M	0.3%	+59.1%

By region

FY2026

69.3%UNITED STATES19.6%TAIWAN, PROVINCE OF CHINA9.1%CHINA2.0%Other Americas

Region	Revenue	Share of revenue	Change on the year
UNITED STATES	149.62B	69.3%	+144.2%
TAIWAN, PROVINCE OF CHINA	42.35B	19.6%	+105.8%
CHINA	19.68B	9.1%	+15.0%
Other Americas	4.30B	2.0%	-45.4%

Operating and free cash flow

Full cash flow statement

Operating cash flow Free cash flow

Fiscal year	Operating cash flow	Free cash flow
FY2026	102.72B	96.68B
FY2025	64.09B	60.85B
FY2024	28.09B	27.02B
FY2023	5.64B	3.81B
FY2022	9.11B	8.13B
FY2021	5.82B	4.69B
FY2020	4.76B	4.27B
FY2019	3.74B	3.14B
FY2018	3.50B	2.91B
FY2017	1.67B	1.50B

NVIDIA financial health

Full balance sheet

Cash and short-term investments: 99.37B USD
Total debt: 38.86B USD
Net cash: 60.51B USD
Free cash flow (TTM): 127.01B USD
Current ratio: 4.59
Debt to equity: 0.17
Piotroski score: 6 / 9
Altman Z-score: 37.75

Cash, debt and free cash flow

Cash and short-term investments Total debt Free cash flow

Fiscal year	Cash and short-term investments	Total debt	Free cash flow
FY2026	62.56B	11.41B	96.68B
FY2025	43.21B	10.27B	60.85B
FY2024	25.98B	11.06B	27.02B
FY2023	13.30B	12.03B	3.81B
FY2022	21.21B	11.83B	8.13B

Assets, liabilities and equity

Total assets Total liabilities Shareholders' equity

Fiscal year	Total assets	Total liabilities	Shareholders' equity
FY2026	206.80B	49.51B	157.29B
FY2025	111.60B	32.27B	79.33B
FY2024	65.73B	22.75B	42.98B
FY2023	41.18B	19.08B	22.10B
FY2022	44.19B	17.58B	26.61B
FY2021	28.79B	11.90B	16.89B
FY2020	17.32B	5.11B	12.20B
FY2019	13.29B	3.95B	9.34B
FY2018	11.24B	3.77B	7.47B
FY2017	9.84B	4.08B	5.76B

NVIDIA valuation

Price to earnings ratio (TTM): 25.19
Forward P/E (FY2027): 21.56
Price to sales (TTM): 15.93
Price to book: 21.08
EV / EBITDA (TTM): 20.38

Capital structure

Market capitalization

4.83T USD

Total debt

38.86B USD

−

Cash and short-term investments

99.37B USD

Enterprise value

4.77T USD

Valuation over time

P/EForward P/EForward P/E · EstimateEstimate

Fiscal year	P/E	Forward P/E	P/S	P/B	EV/EBITDA
FY2029 (est.)	9.37	—	—	—	—
FY2028 (est.)	12.67	9.37	—	—	—
FY2027 (est.)	21.56	12.67	—	—	—
Now (TTM)	25.19	13.95	15.93	21.08	20.38
FY2026	37.82	20.25	21.03	28.88	31.43
FY2025	39.87	30.44	22.28	36.66	33.78
FY2024	51.63	20.74	25.32	35.89	43.45
FY2023	106.44	16.50	17.67	21.56	81.05
FY2022	62.79	69.80	22.71	22.97	54.72

NVIDIA against its own history

Each figure in the latest fiscal year against the same figure from FY2022 to FY2026: the range, its median (the line) and the latest (the dot, green on the good side of the median). The P/E is today's against its daily readings of five years.

Its peers: Broadcom, Micron Technology, and Advanced Micro Devices, the US Semiconductors companies closest to it in size, each in its own latest fiscal year: their median (the line) and its rank among them, first being the best.

P/E (today)Lowest in 5 years25.2
25.2245.6
Gross marginAt its median71.1%
56.9%75.0%
Against its peers: 2 of 4Peers' median 67.8%
Operating marginAbove its median60.4%
15.7%62.4%
Against its peers: 2 of 4Peers' median 39.9%
Net marginAbove its median55.6%
16.2%55.8%
Against its peers: 2 of 4Peers' median 36.2%
Return on equityAbove its median76.3%
19.8%91.9%
Against its peers: 1 of 4Peers' median 28.4%
Free cash flow marginAbove its median44.8%
14.1%46.6%
Against its peers: 1 of 4Peers' median 42.1%
Revenue growthAt its median65.5%
0.2%125.9%
Against its peers: 2 of 4Peers' median 34.3%
EPS growthBelow its median66.7%
-55.3%600.0%
Against its peers: 4 of 4Peers' median 287.8%
Debt to EBITDALowest in 5 years0.08×
0.08×2.01×
Against its peers: 2 of 4Peers' median 0.61×
Current ratioBelow its median3.91
3.526.65
Against its peers: 1 of 4Peers' median 2.85

Figure	FY2026	5-year low – high	Against its history	Against its peers
P/E (today)	25.2	25.2245.6	Lowest in 5 years	—
Gross margin	71.1%	56.9%75.0%	At its median	2 of 4
Operating margin	60.4%	15.7%62.4%	Above its median	2 of 4
Net margin	55.6%	16.2%55.8%	Above its median	2 of 4
Return on equity	76.3%	19.8%91.9%	Above its median	1 of 4
Free cash flow margin	44.8%	14.1%46.6%	Above its median	1 of 4
Revenue growth	65.5%	0.2%125.9%	At its median	2 of 4
EPS growth	66.7%	-55.3%600.0%	Below its median	4 of 4
Debt to EBITDA	0.08×	0.08×2.01×	Lowest in 5 years	2 of 4
Current ratio	3.91	3.526.65	Below its median	1 of 4

Peers: US companies of the same industry (of its sector when the industry has too few) from a tenth to ten times its market value, the six closest in size. Updated weekly.

NVIDIA dividends

Annual dividend: 1.00 USD
Dividend yield (indicated): 0.50%
Payout ratio: 6.54%
Years of dividend growth: 1
Frequency: Quarterly
Last payment: 0.25 USD
Last ex-dividend date: 10 Sept 2026
Last payment date: 1 Oct 2026

Dividends per share

Year	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
Dividends per share	0.04	0.03	0.02	0.02	0.02	0.02	0.02	0.02	0.01	0.01

NVIDIA ownership

Institutions: 69.68%
Institutional holders: 6,483 (+179)
Free float: 95.99%

InstitutionsOthers

As of 30 Jun 2026

Insider trading

Quarter	Sales	Shares acquired	Shares disposed of
Q4 2026	0	0.00	500.00K
Q3 2026	25	174.92K	6.43M
Q2 2026	7	70.41K	2.80M
Q1 2026	86	60.49M	31.69M

Shares outstanding

Basic shares Diluted shares Change in diluted shares

Fiscal year	Basic shares	Diluted shares	Change in diluted shares
FY2026	24.36B	24.51B	-1.17%
FY2025	24.56B	24.80B	-0.55%
FY2024	24.69B	24.94B	-0.52%
FY2023	24.87B	25.07B	-1.10%
FY2022	24.96B	25.35B	+0.92%

Common questions about NVIDIA's financials

Source: Financial Modeling Prep

NVIDIA
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Quotes are delayed by 15 minutes

NVDA

NVIDIA financials

NVIDIA earnings

Revenue

EPS

NVIDIA growth and profitability

Revenue / Net income

How NVIDIA makes its money

NVIDIA revenue breakdown

By product

By region

Operating and free cash flow

NVIDIA financial health

Cash, debt and free cash flow

Assets, liabilities and equity

NVIDIA valuation

Capital structure

Valuation over time

NVIDIA against its own history

NVIDIA dividends

Dividends per share

NVIDIA ownership

Insider trading

Shares outstanding

Common questions about NVIDIA's financials

Is NVIDIA profitable?

Is NVIDIA financially healthy?

Is NVIDIA growing?

Where can I find NVIDIA's annual report (10-K)?

Need help?

NVIDIA DQuotes are delayed by 15 minutes

NVDA

NVIDIA financials

NVIDIA earnings

Revenue

EPS

NVIDIA growth and profitability

Revenue / Net income

How NVIDIA makes its money

NVIDIA revenue breakdown

By product

By region

Operating and free cash flow

NVIDIA financial health

Cash, debt and free cash flow

Assets, liabilities and equity

NVIDIA valuation

Capital structure

Valuation over time

NVIDIA against its own history

NVIDIA dividends

Dividends per share

NVIDIA ownership

Insider trading

Shares outstanding

Common questions about NVIDIA's financials

Is NVIDIA profitable?

Is NVIDIA financially healthy?

Is NVIDIA growing?

Where can I find NVIDIA's annual report (10-K)?

Need help?

NVIDIA
D
Quotes are delayed by 15 minutes