NVIDIA CORP (NVDA) - Stock Research

Revenue by Segment

Segment	2021	2022	2023	2024	2025	% of Total
Data Center	$6.70B	$10.61B	$15.01B	$47.52B	$115.19B	47%
Compute	—	—	$11.32B	$38.95B	$102.20B	42%
Networking	—	—	$3.69B	$8.57B	$12.99B	5%
Gaming	$7.76B	$12.46B	$9.07B	$10.45B	$11.35B	5%
Professional Visualization	$1.05B	$2.11B	$1.54B	$1.55B	$1.88B	1%

	1-Yr	4-Yr
Sales	116.1%	67.7%
Cash Flow	130.2%	82.6%
Earnings	147.1%	103.0%
Dividends	113.0%	20.8%
Book Value	86.2%	47.6%

	1-Yr	4-Yr
ROIC	201.8%	100.0%
Gross Margin	75.0%	67.4%
FCF Yield	1.9%	1.5%
Buyback Yield	1.1%	1.2%

	Q1	Q2	Q3	Q4
2022	—	0.08	0.19	0.12
2023	0.06	0.03	0.03	0.06
2024	0.08	0.25	0.37	0.49
2025	0.60	0.67	0.77	0.90
2026	0.76	1.08	1.30	—

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Financial data for NVDA from SEC EDGAR
Metric	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023
Earnings Power
Revenue	4.1B	4.7B	5.0B	6.9B	9.7B	11.7B	10.9B	16.7B	26.9B	27.0B	60.9B	130.5B	187.1B
Net Income	440M	631M	614M	1.7B	3.0B	4.1B	2.8B	4.3B	9.8B	4.4B	29.8B	72.9B	99.2B
Owner Earnings	460M	528M	774M	1.2B	2.9B	2.9B	3.5B	3.3B	5.9B	1.4B	23.0B	57.5B	76.6B
Non-Recurring	N/A	0	131M	0	0	N/A	N/A	N/A	N/A	N/A	N/A	N/A	0
Gross Margin	54.9%	55.5%	56.1%	58.8%	59.9%	61.2%	62.0%	62.3%	64.9%	56.9%	72.7%	75.0%	70.1%
Op. Margin	12.0%	16.2%	14.9%	28.0%	33.0%	32.5%	26.1%	27.2%	37.3%	15.7%	54.1%	62.4%	58.8%
Net Margin	10.7%	13.5%	12.3%	24.1%	31.4%	35.3%	25.6%	26.0%	36.2%	16.2%	48.8%	55.8%	53.0%
Returns on Capital
ROE	9.9%	14.3%	13.7%	28.9%	40.8%	44.3%	22.9%	25.6%	36.6%	19.8%	69.2%	119.2%	83.4%
ROA	6.1%	8.8%	8.3%	16.9%	27.1%	31.2%	16.1%	15.0%	22.1%	10.6%	45.3%	82.2%	61.6%
ROIC	37.5%	53.8%	13.8%	178.6%	130.3%	103.5%	81.2%	39.4%	60.2%	23.8%	114.0%	201.8%	142.9%
Cash Flow
Free Cash Flow	835M	906M	1.2B	1.7B	3.5B	3.7B	4.8B	5.8B	9.1B	3.8B	27.0B	60.9B	0
CapEx	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	1.8B	1.1B	3.2B	0
Maint. CapEx	239M	220M	197M	187M	199M	262M	381M	1.1B	1.2B	1.5B	1.5B	1.9B	1.9B
Growth CapEx	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	289M	0	1.4B	0
CapEx/OCF	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	32.5%	3.8%	5.0%	0.0%
D&A	239M	220M	197M	187M	199M	262M	381M	1.1B	1.2B	1.5B	1.5B	1.9B	1.9B
Capital Allocation
Op. Cash Flow	835M	906M	1.2B	1.7B	3.5B	3.7B	4.8B	5.8B	9.1B	5.6B	28.1B	64.1B	83.2B
Dividends Paid	181M	186M	213M	261M	341M	371M	390M	395M	399M	398M	395M	834M	977M
Share Buybacks	887M	814M	587M	739M	909M	1.6B	0	N/A	0	10.0B	9.5B	33.7B	33.7B
Buyback Yield	10.1%	7.8%	3.8%	1.0%	0.6%	1.8%	N/A	N/A	N/A	2.0%	0.6%	1.1%	0.7%
Debt Repayment	N/A	N/A	0	0	N/A	N/A	N/A	0	1.0B	0	1.3B	1.3B	1.3B
Stock-Based Comp	136M	158M	204M	247M	391M	557M	844M	1.4B	2.0B	2.7B	3.5B	4.7B	4.7B
Balance Sheet
Total Assets	7.3B	7.2B	7.4B	9.8B	11.2B	13.3B	17.3B	28.8B	44.2B	41.2B	65.7B	111.6B	161.1B
Intangibles	939M	840M	784M	722M	670M	663M	667M	6.9B	6.7B	6.0B	5.5B	6.0B	6.0B
Total Liabilities	2.8B	2.8B	2.8B	4.0B	3.8B	4.0B	5.1B	11.9B	17.6B	19.1B	22.8B	32.3B	42.3B
Equity	4.5B	4.4B	4.5B	5.8B	7.5B	9.3B	12.2B	16.9B	26.6B	22.1B	43.0B	79.3B	118.9B
Net Debt	-3.3B	-3.2B	-5.0B	-4.8B	-5.1B	-5.4B	-8.9B	-5.6B	-10.3B	-3.6B	-17.5B	-34.7B	-53.1B
Long-Term Debt	1.4B	1.4B	0	2.0B	2.0B	2.0B	2.0B	6.0B	10.9B	9.7B	8.5B	8.5B	N/A
Debt/Equity	0.30	0.31	N/A	0.34	0.27	0.21	0.16	0.35	0.41	0.44	0.20	0.11	0.06
Interest Coverage	47.5	16.5	15.9	33.3	52.6	65.6	54.7	24.6	42.5	16.1	128.3	329.8	329.8
Working Capital	4.7B	4.8B	3.7B	6.7B	8.1B	9.2B	11.9B	12.1B	24.5B	16.5B	33.7B	62.1B	62.1B
Current Assets	5.6B	5.7B	6.1B	8.5B	9.3B	10.6B	13.7B	16.1B	28.8B	23.1B	44.3B	80.1B	80.1B
Current Liabilities	945M	896M	2.4B	1.8B	1.2B	1.3B	1.8B	3.9B	4.3B	6.6B	10.6B	18.0B	18.0B
Retained Earnings	3.5B	3.9B	4.3B	6.1B	8.8B	12.6B	15.0B	18.9B	16.2B	10.2B	29.8B	68.0B	68.0B
Per Share Data
Avg. Price	0.34	0.45	0.59	1.45	3.91	5.61	4.51	10.37	20.36	17.90	39.29	113.59	185.41
EPS	0.02	0.03	0.03	0.06	0.12	0.17	0.11	0.17	0.39	0.17	1.19	2.94	4.04
Owner EPS	0.02	0.02	0.03	0.05	0.12	0.12	0.14	0.13	0.23	0.06	0.92	2.32	3.15
Book Value	0.19	0.20	0.20	0.22	0.30	0.37	0.49	0.67	1.05	0.88	1.72	3.20	4.89
Cash Flow/Share	0.04	0.04	0.05	0.06	0.14	0.15	0.19	0.23	0.36	0.22	1.12	2.59	4.16
Dividends/Share	0.01	0.01	0.01	0.01	0.01	0.01	0.02	0.02	0.02	0.02	0.02	0.03	0.04
Shares Out.	23.8B	22.5B	22.7B	25.9B	25.3B	25.0B	24.7B	25.0B	25.3B	25.1B	25.0B	24.8B	24.3B
Valuation
P/E Ratio	19.9	16.5	25.3	42.8	49.9	20.6	54.6	75.2	59.2	116.9	51.3	43.9	45.9
Price/Book	2.0	2.4	3.5	12.4	20.4	9.2	12.5	19.3	21.7	23.1	35.5	40.3	37.9
Price/Sales	1.9	2.2	2.7	5.5	10.2	12.0	10.2	15.6	19.2	16.7	16.1	21.6	24.1
EV/EBIT	11.0	9.5	14.1	34.4	45.8	21.0	50.5	70.7	56.5	120.1	45.7	38.8	40.4
FCF Yield	9.5%	8.7%	7.6%	2.3%	2.3%	4.4%	3.1%	1.8%	1.6%	0.7%	1.8%	1.9%	N/A
Market Cap	8.8B	10.4B	15.6B	71.4B	152.1B	85.5B	152.7B	325.9B	577.4B	510.7B	1.5T	3.2T	4.5T
Year-End Price	0.37	0.46	0.68	2.75	6.02	3.42	6.17	13.01	22.80	20.34	61.00	128.95	185.41

NVIDIA CORP

Business Description

Revenue by Segment

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