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NVIDIA (NVDA) financial statements: income, balance sheet and cash flow

Nasdaq: NVDA · Information technology · United States

Signed off by OffScriptBySami on  · Updated

Data as of  · For information only, not investment advice.

In brief

NVIDIA (Nasdaq: NVDA) earned net income of USD 59.7 billion on revenue of USD 96.2 billion in Q2 FY2027, according to its Form 10-Q for the quarter ended 26 Jul 2026. Over the quarter, receivables rose to USD 63.1 billion; total debt rose to USD 33.4 billion and net cash fell to USD 23.2 billion, both our calculations.

Data as of Source: Form 10-Q for Q2 FY2027, filed

Key facts

Data as of

NVIDIA (Nasdaq: NVDA) · USD · fiscal year ends late January · figures from SEC filings; derived values are marked.

Revenue, TTM (USD bn)
303
TTM to · derived
Revenue by quarter, from USD 35.1 bn in Q3 FY2025 to USD 96.2 bn in Q2 FY2027
Operating income, TTM (USD bn)
198
TTM to · derived
Net income, TTM (USD bn)
193
TTM to · derived
Free cash flow, TTM (USD bn)
127
TTM to · derived
Total assets (USD bn)
320
at · Form 10-Q
Net cash (USD bn)
23.2
at · derived: cash and short-term investments minus total debt

What the numbers show

NVIDIA's income statement for Q2 FY2027, the quarter ended 26 Jul 2026, shows revenue of USD 96.2 billion and operating income of USD 63.7 billion. That is an operating margin of 66.2%, our calculation. Pre-tax income was USD 71.5 billion after other income, net; these tables show only its net interest, USD 269 million. The Form 10-Q says other income, net, is mainly gains and losses on non-marketable and publicly held equity securities, with gains primarily unrealised.

Annual revenue grew from USD 26.9 billion in FY2022 to USD 216 billion in FY2026, a compound annual growth rate of 68.3%, our calculation, against 87.3% for net income. Revenue rose in every year, including FY2023, when operating income fell. Operating margin, our calculation, was 37.3% in FY2022, 15.7% in FY2023, 62.4% in FY2025 and 60.4% in FY2026. FY2022's year-on-year revenue growth carries a note: FY2021 had 53 weeks and FY2022 had 52.

On NVIDIA's balance sheet, total assets grew from USD 207 billion at 25 Jan 2026 to USD 320 billion at 26 Jul 2026. Receivables rose from USD 38.5 billion to USD 63.1 billion between those dates; inventory was USD 31.6 billion at the later one. The 10-Q links the receivables rise to extended payment terms on large multi-quarter agreements with certain customers of high credit standing.

Goodwill and intangibles rose from USD 7.20 billion at Q3 FY2026 to USD 24.1 billion at Q4 FY2026. The FY2026 10-K ties most of the rise to a licence agreement with Groq; NVIDIA also hired certain Groq employees. Total debt, our calculation, was USD 8.5 billion at Q1 FY2027 and USD 33.4 billion at Q2 FY2027, after senior notes issued in June 2026. Net cash, our calculation (cash and short-term investments less total debt), fell from USD 41.9 billion to USD 23.2 billion over Q2 FY2027. From Q4 FY2026, cash and short-term investments exclude publicly held equity securities, which earlier cells include, so the Q3 to Q4 FY2026 change is partly a change of definition.

A 10-Q reports cash flows year to date, so Q2 FY2027 cash flow figures are our derivation, marked D. They show USD 24.1 billion of cash from operations, against net income of USD 59.7 billion. The 10-Q's six-month cash flow statement deducts the increases in receivables and inventories and the gains on equity securities from net income. Free cash flow, our calculation, was USD 21.4 billion after capital expenditure of USD 2.7 billion, and USD 127 billion for the 4 quarters to 26 Jul 2026.

Diluted EPS was USD 2.46 per share in Q2 FY2027 and USD 4.90 per share in FY2026. From FY2022 to FY2026 it grew 88.9% a year, our calculation, while the diluted share count went from 25,350 million shares to 24,514 million shares. Figures from filings made before the 10-for-1 split of 2024 carry A, adjusted for it, as NVIDIA stock fundamentals explains. FY2023 and FY2024 EPS come from the FY2025 10-K, which already shows them after the split.

Income statement

Chart 1

NVIDIA quarterly revenue, Q3 FY2025 to Q2 FY2027

USD bn · quarters ended to

Revenue by quarter, from USD 35.1 bn in Q3 FY2025 to USD 96.2 bn in Q2 FY2027.025507510096.2Q3FY25Q4Q1FY26Q2Q3Q4Q1FY27Q2stockfactsheet.com
Source: NVIDIA Forms 10-Q and 10-K, SEC EDGAR Data as of

Annual

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Table 1 NVIDIA income statement, annual, FY2022–FY2026 (USD millions) USD millions, except per-share data (USD) and percentages · Fiscal year ends late January
USD mFY2026ended FY2025ended FY2024ended FY2023ended FY2022ended CAGRFY22–FY26
Revenue215,938130,49760,92226,97426,914increased 68.3%
Revenue YoY %increased 65.5%increased 114.2%increased 125.9%increased 0.2%increased 61.4% 1not available
Cost of revenue62,47532,63916,62111,6189,439increased 60.4%
Gross profit153,46397,85844,30115,35617,475increased 72.1%
Gross margin %71.1%75.0%72.7%56.9%64.9%not available
R&D18,49712,9148,6757,3395,268increased 36.9%
SG&A4,5793,4912,6542,4402,166increased 20.6%
Operating income130,38781,45332,9724,22410,041increased 89.8%
Operating margin %60.4%62.4%54.1%15.7%37.3%not available
Net interest2,041 D1,539 D609 D5 D−207 Dn/m
Pre-tax income141,45084,02633,8184,1819,941increased 94.2%
Income tax21,38311,1464,058−187189increased 226.1%
Net income120,06772,88029,7604,3689,752increased 87.3%
Net margin %55.6%55.8%48.8%16.2%36.2%not available
Per share
Diluted EPS (USD)4.902.941.19 20.17 20.385 Aincreased 88.9%
Diluted shares (m)24,51424,80424,940 225,070 225,350 Anot available
(opens in new tab)

Source: NVIDIA Forms 10-Q and 10-K, SEC EDGAR Data as of

  • D Net interest = interest income − interest expense, both from the same filing.
  • A Adjusted for the 10-for-1 share split (2024); as reported: USD 3.85.
  • A Adjusted for the 10-for-1 share split (2024); as reported: 2,535 m shares.
  • Not available
  • Not meaningful

1 FY2022 had 52 weeks; FY2021 had 53 weeks (364 vs 371 days).

CAGR: compound annual growth rate from FY2022 to FY2026, our calculation; n/m when the endpoints differ in sign or the base is zero or negative.

2 As presented in Form 10-K filed .

Totals may not add up because of rounding.

Arrows show direction of change only, not whether a change is good or bad.

Quarterly

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Table 2 NVIDIA income statement, quarterly, Q3 FY2025–Q2 FY2027 (USD millions) USD millions, except per-share data (USD) and percentages · Fiscal year ends late January
USD mQ2 FY2027ended Q1 FY2027ended Q4 FY2026ended Q3 FY2026ended Q2 FY2026ended Q1 FY2026ended Q4 FY2025ended Q3 FY2025ended
Revenue96,22181,61568,127 D57,00646,74344,06239,331 D35,082
Revenue YoY %increased 105.9%increased 85.2%increased 73.2%increased 62.5%increased 55.6%increased 69.2%increased 77.9%increased 93.6%
Cost of revenue24,07920,45817,034 D15,15712,89017,39410,608 D8,926
Gross profit72,14261,15751,093 D41,84933,85326,66828,723 D26,156
Gross margin %75.0%74.9%75.0%73.4%72.4%60.5%73.0%74.6%
R&D7,0546,3215,512 D4,7054,2913,9893,714 D3,390
SG&A1,3541,3001,282 D1,1341,1221,041975 D897
Operating income63,73453,53644,299 D36,01028,44021,63824,034 D21,869
Operating margin %66.2%65.6%65.0%63.2%60.8%49.1%61.1%62.3%
Net interest269 D438 D495 D563 D530 D452 D450 D411 D
Pre-tax income71,50769,90350,398 D37,93631,20621,91025,217 D22,316
Income tax11,81911,5827,438 D6,0264,7843,1353,126 D3,007
Net income59,68858,32142,960 D31,91026,42218,77522,091 D19,309
Net margin %62.0%71.5%63.1%56.0%56.5%42.6%56.2%55.0%
Per share
Diluted EPS (USD)2.462.39not available1.301.080.76not available0.78
Diluted shares (m)24,28524,391not available24,48324,53224,611not available24,774
(opens in new tab)

Source: NVIDIA Forms 10-Q and 10-K, SEC EDGAR Data as of

  • D Fourth quarter derived as the fiscal year minus the nine-month year-to-date total.
  • D Net interest = interest income − interest expense, both from the same filing.
  • Not available

Totals may not add up because of rounding.

Arrows show direction of change only, not whether a change is good or bad.

Balance sheet

Annual

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Table 3 NVIDIA assets, annual, FY2022–FY2026 (USD millions) USD millions
USD mFY2026at FY2025at FY2024at FY2023at FY2022at
Cash and short-term investments49,670 D 143,210 D25,984 D13,296 D21,208 D
Receivables38,46623,0659,9993,8274,650
Inventory21,40310,0805,2825,1592,605
Total current assets125,60580,12644,34523,07328,829
PP&E (net)10,3836,2833,9143,8072,778
Goodwill and intangibles24,138 D5,995 D5,542 D6,048 D6,688 D
Total assets206,803111,60165,72841,18244,187
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Source: NVIDIA Forms 10-Q and 10-K, SEC EDGAR Data as of

  • D Cash and cash equivalents plus the short-term investments, current marketable securities or current debt securities the filing tags, from the same filing.
  • D Goodwill plus the intangible assets the filing reports under the standard intangible-asset tags or the components our mapping lists for the company, from the same filing. Intangible assets a company shows on separate balance sheet lines under other tags, such as licences, may not be included, so for some companies this line is goodwill alone; the lines included can change when the company changes its balance sheet.

1 As presented in Form 10-Q filed .

Totals may not add up because of rounding.

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Table 4 NVIDIA liabilities and shareholders' equity, annual, FY2022–FY2026 (USD millions) USD millions · net cash shown as a negative net debt
USD mFY2026at FY2025at FY2024at FY2023at FY2022at
Current liabilities32,16318,04710,6316,5634,335
Total debt8,468 D8,463 D9,709 D10,953 D10,946 D
Total liabilities49,51032,27422,75019,08117,575
Shareholders' equity157,29379,32742,97822,10126,612
Net debt / (net cash)−41,202 D−34,747 D−16,275 D−2,343 D−10,262 D
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Source: NVIDIA Forms 10-Q and 10-K, SEC EDGAR Data as of

  • D Total debt = short-term debt + long-term debt, from the same filing.
  • D Net debt = total debt minus cash and short-term investments; a negative value is net cash.

Totals may not add up because of rounding.

Quarterly

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Table 5 NVIDIA assets, quarterly, Q3 FY2025–Q2 FY2027 (USD millions) USD millions
USD mQ2 FY2027at Q1 FY2027at Q4 FY2026at Q3 FY2026at Q2 FY2026at Q1 FY2026at Q4 FY2025at Q3 FY2025at
Cash and short-term investments56,586 D50,335 D49,670 D 160,608 D56,791 D53,691 D43,210 D38,487 D
Receivables63,05940,71038,46633,39127,80822,13223,06517,693
Inventory31,57525,79721,40319,78414,96211,33310,0807,654
Total current assets197,412150,995125,605116,492102,21989,93580,12667,640
PP&E (net)14,28512,40310,3839,7809,1417,1366,2835,343
Goodwill and intangibles24,123 D24,014 D24,138 D7,197 D6,510 D6,267 D5,995 D5,562 D
Total assets320,272259,474206,803161,148140,740125,254111,60196,013
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Source: NVIDIA Forms 10-Q and 10-K, SEC EDGAR Data as of

  • D Cash and cash equivalents plus the short-term investments, current marketable securities or current debt securities the filing tags, from the same filing.
  • D Goodwill plus the intangible assets the filing reports under the standard intangible-asset tags or the components our mapping lists for the company, from the same filing. Intangible assets a company shows on separate balance sheet lines under other tags, such as licences, may not be included, so for some companies this line is goodwill alone; the lines included can change when the company changes its balance sheet.

1 As presented in Form 10-Q filed .

Totals may not add up because of rounding.

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Table 6 NVIDIA liabilities and shareholders' equity, quarterly, Q3 FY2025–Q2 FY2027 (USD millions) USD millions · net cash shown as a negative net debt
USD mQ2 FY2027at Q1 FY2027at Q4 FY2026at Q3 FY2026at Q2 FY2026at Q1 FY2026at Q4 FY2025at Q3 FY2025at
Current liabilities43,01943,88432,16326,07524,25726,54218,04716,479
Total debt33,366 D8,470 D8,468 D8,467 D8,466 D8,464 D8,463 D8,462 D
Total liabilities91,28864,00049,51042,25140,60941,41132,27430,114
Shareholders' equity228,984195,474157,293118,897100,13183,84379,32765,899
Net debt / (net cash)−23,220 D−41,865 D−41,202 D−52,141 D−48,325 D−45,227 D−34,747 D−30,025 D
(opens in new tab)

Source: NVIDIA Forms 10-Q and 10-K, SEC EDGAR Data as of

  • D Total debt = short-term debt + long-term debt, from the same filing.
  • D Net debt = total debt minus cash and short-term investments; a negative value is net cash.

Totals may not add up because of rounding.

Cash flow

Chart 2

NVIDIA quarterly free cash flow, Q3 FY2025 to Q2 FY2027

USD bn · quarters ended to

Free cash flow by quarter, from USD 16.8 bn in Q3 FY2025 to USD 21.4 bn in Q2 FY2027.020406021.4Q3FY25Q4Q1FY26Q2Q3Q4Q1FY27Q2stockfactsheet.com
Source: NVIDIA Forms 10-Q and 10-K, SEC EDGAR Data as of

Annual

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Table 7 NVIDIA cash flow, annual, FY2022–FY2026 (USD millions) USD millions · outflows shown with a minus sign
USD mFY2026ended FY2025ended FY2024ended FY2023ended FY2022ended
Cash from operations102,71864,08928,0905,6419,108
Capital expenditure−6,042−3,236−1,069−1,833 1−976 1
Free cash flow96,676 D60,853 D27,021 D3,808 D8,132 D
Dividends paid−974−834−395−398−399
Share buybacks−40,086−33,706−9,533−10,0390 2
Cash from investing−52,228−20,421−10,5667,375−9,830
Cash from financing−48,474−42,359−13,633−11,6171,865
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Source: NVIDIA Forms 10-Q and 10-K, SEC EDGAR Data as of

  • D Free cash flow = cash from operations minus capital expenditure.

1 As presented in Form 10-K filed .

2 As presented in Form 10-K filed .

Totals may not add up because of rounding.

Quarterly

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Table 8 NVIDIA cash flow, quarterly, Q3 FY2025–Q2 FY2027 (USD millions) USD millions · outflows shown with a minus sign
USD mQ2 FY2027ended Q1 FY2027ended Q4 FY2026ended Q3 FY2026ended Q2 FY2026ended Q1 FY2026ended Q4 FY2025ended Q3 FY2025ended
Cash from operations24,077 D50,34436,188 D23,751 D15,365 D27,41416,629 D17,627 D
Capital expenditure−2,677 D−1,757−1,284 D−1,636 D−1,895 D−1,227−1,077 D−813 D
Free cash flow21,400 D48,587 D34,904 D22,115 D13,470 D26,187 D15,552 D16,814 D
Dividends paid−6,047 D−243−242 D−244 D−244−244−245 D−245
Share buybacks−19,732 D−19,312−3,815 D−12,456 D−9,720 D−14,095−7,811 D−10,997 D
Cash from investing−8,695 D−26,429−30,861 D−9,024 D−7,127 D−5,216−7,198 D−4,346 D
Cash from financing−6,176 D−21,283−6,208 D−14,880 D−11,833 D−15,553−9,949 D−12,745 D
(opens in new tab)

Source: NVIDIA Forms 10-Q and 10-K, SEC EDGAR Data as of

  • D Quarter derived from year-to-date totals: the six- or nine-month figure minus the earlier quarters.
  • D Fourth quarter derived as the fiscal year minus the nine-month year-to-date total.
  • D Free cash flow = cash from operations minus capital expenditure.

Totals may not add up because of rounding.

Per share and dividends

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Table 9 NVIDIA per-share data and dividends, annual, FY2022–FY2026 USD per share, split-adjusted · shares in millions
USDFY2026ended FY2025ended FY2024ended FY2023ended FY2022ended
Basic EPS (USD)4.932.971.21 10.18 10.391 A
Diluted EPS (USD)4.902.941.19 10.17 10.385 A
Dividends declared per share (USD)0.040.0340.016 10.016 10.016 A
Diluted shares (m)24,51424,80424,940 125,070 125,350 A
Shares outstanding at year end (m)24,30424,47724,643 124,660 A25,060 A
FCF cover (×)99.3×73.0×68.4×9.6×20.4×
(opens in new tab)

Source: NVIDIA Forms 10-Q and 10-K, SEC EDGAR Data as of

  • A Adjusted for the 10-for-1 share split (2024); as reported: USD 3.91.
  • A Adjusted for the 10-for-1 share split (2024); as reported: USD 3.85.
  • A Adjusted for the 10-for-1 share split (2024); as reported: USD 0.16.
  • A Adjusted for the 10-for-1 share split (2024); as reported: 2,535 m shares.
  • A Adjusted for the 10-for-1 share split (2024); as reported: 2,466 m shares.
  • A Adjusted for the 10-for-1 share split (2024); as reported: 2,506 m shares.

1 As presented in Form 10-K filed .

Notes on these figures

  • R Restated
    • None in the periods shown.
  • D Derived by StockFactsheet
    • Net interest = interest income − interest expense, both from the same filing.
    • Fourth quarter derived as the fiscal year minus the nine-month year-to-date total.
    • Cash and cash equivalents plus the short-term investments, current marketable securities or current debt securities the filing tags, from the same filing.
    • Goodwill plus the intangible assets the filing reports under the standard intangible-asset tags or the components our mapping lists for the company, from the same filing. Intangible assets a company shows on separate balance sheet lines under other tags, such as licences, may not be included, so for some companies this line is goodwill alone; the lines included can change when the company changes its balance sheet.
    • Total debt = short-term debt + long-term debt, from the same filing.
    • Net debt = total debt minus cash and short-term investments; a negative value is net cash.
    • Free cash flow = cash from operations minus capital expenditure.
    • Quarter derived from year-to-date totals: the six- or nine-month figure minus the earlier quarters.
  • A Adjusted for a split or bonus shares
  • Template: standard statement set (not bank or insurer).
  • Arrows show direction of change only, not whether a change is good or bad.

How we got these numbers

Every figure comes from NVIDIA's Forms 10-Q and 10-K as filed with the SEC. Derived values are marked D and explained below.

Full method for this page
Source documents
Forms 10-Q (Q3 FY2025 to Q2 FY2027) and 10-K (FY2022 to FY2026)
Period covered
8 quarters and 5 fiscal years
Calculations
TTM = sum of the last 4 quarters. Q4 = fiscal year minus the nine-month YTD. Margins = line item ÷ revenue. FCF = cash from operations − capital expenditure. CAGR = compound annual growth across the annual table.
Restatements
None in the periods shown.
Comparator
None: this page shows the company's own figures only.
Currency
As reported (USD); no FX conversion.
Read the full methodology

CSV downloads

One file per statement, with the annual and quarterly figures on this page in full units.

Sources and data

Data as of Figures are as reported in the filings below. Derived figures are our calculations (see Methodology).

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  1. [1] Filing Form 10-Q, quarter ended 26 Jul 2026 NVIDIA Corporation · · sec.gov
  2. [2] Filing Form 10-Q, quarter ended 26 Apr 2026 NVIDIA Corporation · · sec.gov
  3. [3] Filing Form 10-K, fiscal year ended 25 Jan 2026 NVIDIA Corporation · · sec.gov
  4. [4] Filing Form 10-Q, quarter ended 26 Oct 2025 NVIDIA Corporation · · sec.gov
  5. [5] Filing Form 10-Q, quarter ended 27 Jul 2025 NVIDIA Corporation · · sec.gov
  6. [6] Filing Form 10-Q, quarter ended 27 Apr 2025 NVIDIA Corporation · · sec.gov
  7. [7] Filing Form 10-K, fiscal year ended 26 Jan 2025 NVIDIA Corporation · · sec.gov
  8. [8] Filing Form 10-Q, quarter ended 27 Oct 2024 NVIDIA Corporation · · sec.gov
  9. [9] Filing Form 10-K, fiscal year ended 28 Jan 2024 NVIDIA Corporation · · sec.gov
  10. [10] Filing Form 10-K, fiscal year ended 29 Jan 2023 NVIDIA Corporation · · sec.gov
  11. [11] Filing Form 10-K, fiscal year ended 30 Jan 2022 NVIDIA Corporation · · sec.gov
  12. [12] Filing Form 10-Q, quarter ended 28 Jul 2024 NVIDIA Corporation · · sec.gov
  13. [13] Filing Form 10-Q, quarter ended 28 Apr 2024 NVIDIA Corporation · · sec.gov
  14. [14] Filing Form 10-Q, quarter ended 29 Oct 2023 NVIDIA Corporation · · sec.gov
  15. [15] Filing Form 10-K, fiscal year ended 31 Jan 2021 NVIDIA Corporation · · sec.gov
  16. [16] Our dataset StockFactsheet fundamentals dataset, extracted from SEC EDGAR XBRL on ; derived values (Q4, TTM, free cash flow, net debt, margins, growth rates and ratios) are explained in Methodology.

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StockFactsheet (2026). "NVIDIA (NVDA) financial statements: income, balance sheet and cash flow." Signed off by OffScriptBySami. Updated ; data as of . https://stockfactsheet.com/stocks/nvda/financials/

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