NVDA
SP100NasdaqGSNVIDIA Corporation
Technology · Semiconductors · United States
NVIDIA Corporation operates as a data center scale AI infrastructure company in the United States, Taiwan, China, Hong Kong, Europe, and internationally. It operates through Compute & Networking, and Graphics segments. The Compute & Networking segment provides data center accelerated computing and networking platforms and artificial intelligence solutions and software, and automotive platforms and autonomous and electric vehicle solutions, including software. The Graphics segment offers GeForce GPUs for gaming and PCs; Quadro/NVIDIA RTX GPUs for enterprise workstation graphics. The company's products are used in gaming, professional visualization, data center, and automotive markets. It sells its products to original equipment manufacturers, original device manufacturers, system integrators and distributors, independent software vendors, cloud service providers, add-in board manufacturers, distributors, automotive manufacturers and tier-1 automotive suppliers, and other ecosystem participants. NVIDIA Corporation was incorporated in 1993 and is headquartered in Santa Clara, California.
www.nvidia.com ↗Shares trade at a premium 29.8× trailing earnings, easing to 15.3× on forward estimates. Profitability shows a net margin of 63.0% and return on equity of 114.3%. Leverage is modest at -0.2× net debt/EBITDA. Revenue grew 85.2% year-on-year. It yields 0.5% in dividends. The mean analyst target of USD301.62 sits 54.8% above the current price (Strong Buy, 58 analysts).
business model
Nvidia designs GPUs and full-stack accelerated-computing platforms. It has become the dominant supplier of AI training and inference hardware, selling not just chips but systems (HGX/DGX, NVLink, networking via Mellanox) and, critically, the CUDA software platform that locks developers into its ecosystem. It is fabless, outsourcing manufacturing to TSMC.
revenue segments
Data Center now dominates revenue (AI accelerators and networking sold to hyperscalers, enterprises, and sovereigns); followed by Gaming (GeForce), Professional Visualization, and Automotive/robotics. Data Center growth has driven the company's valuation.
key dependencies
Single-sourced leading-edge manufacturing at TSMC and advanced packaging (CoWoS) capacity are the binding constraints. Demand is concentrated among a handful of hyperscaler customers. US export controls restrict sales to China. The CUDA moat depends on continued developer preference.
competitors
AMD (Instinct GPUs) is the closest merchant rival; hyperscalers' in-house silicon (Google TPU, Amazon Trainium/Inferentia, Microsoft Maia) is a structural threat; Intel and various AI-chip startups; Broadcom in custom accelerators and networking.
moat
The CUDA software ecosystem and a decade-plus of developer mindshare create high switching costs; full-system integration (compute + networking + software) is hard to replicate; and a rapid annual product cadence keeps it ahead on performance-per-watt.
risks
Customer concentration and the risk that hyperscalers shift spend to in-house silicon; extreme cyclicality if AI capex normalizes; China export restrictions; a very high valuation pricing in sustained hypergrowth; and dependence on TSMC/CoWoS supply.
Financials & metrics
as of 28 Aug 2026Price is around the middle of its range. Green = nearer the yearly low, red = nearer the high — a position indicator, not a buy/sell signal.
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Full financial statements
Income statement
| Line item | 2026 | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Total revenue | $215.94B | $130.50B | $60.92B | $26.97B | — |
| Cost of revenue | $62.48B | $32.64B | $16.62B | $11.62B | — |
| Gross profit | $153.46B | $97.86B | $44.30B | $15.36B | — |
| Operating expense | $23.08B | $16.41B | $11.33B | $9.78B | — |
| R&D | $18.50B | $12.91B | $8.68B | $7.34B | — |
| Operating income | $130.39B | $81.45B | $32.97B | $5.58B | — |
| Interest expense | $259.00M | $247.00M | $257.00M | $262.00M | — |
| Pretax income | $141.45B | $84.03B | $33.82B | $4.18B | — |
| Tax provision | $21.38B | $11.15B | $4.06B | -$187.00M | — |
| Net income | $120.07B | $72.88B | $29.76B | $4.37B | — |
| EBITDA | $144.55B | $86.14B | $35.58B | $5.99B | — |
| Diluted EPS | $4.90 | $2.94 | $1.19 | $0.17 | — |
Balance sheet
| Line item | 2026 | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Total assets | $206.80B | $111.60B | $65.73B | $41.18B | — |
| Current assets | $125.61B | $80.13B | $44.34B | $23.07B | — |
| Cash & equivalents | $10.61B | $8.59B | $7.28B | $3.39B | — |
| Inventory | $21.40B | $10.08B | $5.28B | $5.16B | — |
| Total liabilities | $49.51B | $32.27B | $22.75B | $19.08B | — |
| Current liabilities | $32.16B | $18.05B | $10.63B | $6.56B | — |
| Total debt | $11.04B | $9.98B | $11.06B | $12.03B | — |
| Long-term debt | $7.47B | $8.46B | $8.46B | $9.70B | — |
| Shareholders' equity | $157.29B | $79.33B | $42.98B | $22.10B | — |
| Retained earnings | $146.97B | $68.04B | $29.82B | $10.17B | — |
| Working capital | $93.44B | $62.08B | $33.71B | $16.51B | — |
Cash flow
| Line item | 2026 | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Operating cash flow | $102.72B | $64.09B | $28.09B | $5.64B | — |
| Investing cash flow | -$52.23B | -$20.42B | -$10.57B | $7.38B | — |
| Financing cash flow | -$48.47B | -$42.36B | -$13.63B | -$11.62B | — |
| Capital expenditure | -$6.04B | -$3.24B | -$1.07B | -$1.83B | — |
| Free cash flow | $96.68B | $60.85B | $27.02B | $3.81B | — |
| Dividends paid | -$974.00M | -$834.00M | -$395.00M | -$398.00M | — |
| Share buybacks | -$40.09B | -$33.71B | -$9.53B | -$10.04B | — |
| End cash position | $10.61B | $8.59B | $7.28B | $3.39B | — |
Reported figures from public filings via Yahoo Finance. Line coverage varies by company. Not investment advice.
Dividends
Analyst assessment
as of 28 Aug 2026Aggregate consensus only. Named per-analyst targets require a premium source and are not shown; the data model is ready to hold them if one is added.
Technicals
as of 27 Aug 2026News
Sector peers
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