NVIDIA CORP (NVDA)
Income Statement
Consolidated Statement of Income
NVIDIA CORP (NVDA)
Year Ended (In millions, except shares and per share data)
| Jan 25, 2026 | Jan 26, 2025 | Jan 28, 2024 | |
|---|---|---|---|
| Revenue | $215,938 | $130,497 | $60,922 |
| Data Center | $193,737 | $115,186 | $47,525 |
| Compute | $162,361 | $102,196 | $38,950 |
| Networking | $31,376 | $12,990 | $8,575 |
| Gaming | $16,042 | $11,350 | $10,447 |
| Professional Visualization | $3,191 | $1,878 | $1,553 |
| Automotive | $2,349 | $1,694 | $1,091 |
| OEM and Other | $619 | $389 | $306 |
| Cost of revenue | $62,475 | $32,639 | $16,621 |
| Inventory purchase obligations in excess of projections | $3,200 | $2,000 | |
| Gross profit | $153,463 | $97,858 | $44,301 |
| Research and development | $18,497 | $12,914 | $8,675 |
| Sales, general and administrative | $4,579 | $3,491 | $2,654 |
| Total operating expenses | $23,076 | $16,405 | $11,329 |
| Operating income | $130,387 | $81,453 | $32,972 |
| Interest income | $2,300 | $1,786 | $866 |
| Interest expense | $(259) | $(247) | $(257) |
| Other income, net | $9,022 | $1,034 | $237 |
| Total other income, net | $11,063 | $2,573 | $846 |
| Income before income tax | $141,450 | $84,026 | $33,818 |
| Income tax expense | $21,383 | $11,146 | $4,058 |
| Net income | $120,067 | $72,880 | $29,760 |
| Basic (in USD per share) | 4.93 | 2.97 | 1.21 |
| Diluted (in USD per share) | 4.90 | 2.94 | 1.19 |
| Basic (in shares) | 24,359 | 24,555 | 24,690 |
| Diluted (in shares) | 24,514 | 24,804 | 24,940 |
Balance Sheet
Consolidated Balance Sheets
NVIDIA CORP (NVDA)
As of January 25, 2026 and January 26, 2025 (In millions, except shares and per share data)
| Jan 25, 2026 | Jan 26, 2025 | |
|---|---|---|
| Cash and cash equivalents | $10,605 | $8,589 |
| Marketable securities | $51,951 | $34,621 |
| Marketable Securities | $51,951 | |
| Accounts receivable, net | $38,466 | $23,065 |
| Inventories | $21,403 | $10,080 |
| Prepaid expenses and other current assets | $3,180 | $3,771 |
| Total current assets | $125,605 | $80,126 |
| Property and equipment, net | $10,383 | $6,283 |
| Operating lease assets | $2,867 | $1,793 |
| Goodwill | $20,832 | $5,188 |
| Intangible assets, net | $3,306 | $807 |
| Deferred income tax assets | $13,258 | $10,979 |
| Non-marketable equity securities | $22,251 | $3,387 |
| Other assets | $8,301 | $3,038 |
| Total assets | $206,803 | $111,601 |
| Accounts payable | $9,812 | $6,310 |
| Accrued and other current liabilities | $21,352 | $11,737 |
| Short-term debt | $999 | |
| Total current liabilities | $32,163 | $18,047 |
| Long-term debt | $7,469 | $8,463 |
| Long-term operating lease liabilities | $2,572 | $1,519 |
| Other long-term liabilities | $7,306 | $4,245 |
| Total liabilities | $49,510 | $32,274 |
| Commitments and contingencies - see Note 12 | ||
| Preferred stock, $0.001 par value; 2 shares authorized; none issued | ||
| Common stock, $0.001 par value; 80,000 shares authorized; 24,304 shares issued and outstanding as of January 25, 2026; 24,477 shares issued and outstanding as of January 26, 2025 | $24 | $24 |
| Additional paid-in capital | $10,118 | $11,237 |
| Accumulated other comprehensive income | $178 | $28 |
| Retained earnings | $146,973 | $68,038 |
| Total shareholders' equity | $157,293 | $79,327 |
| Total liabilities and shareholders' equity | $206,803 | $111,601 |
Cash Flow
Consolidated Statement of Cash Flows
NVIDIA CORP (NVDA)
Year Ended (In millions, except shares and per share data)
| Jan 25, 2026 | Jan 26, 2025 | Jan 28, 2024 | |
|---|---|---|---|
| Net income | $120,067 | $72,880 | $29,760 |
| Stock-based compensation expense | $6,386 | $4,737 | $3,549 |
| Depreciation and amortization | $2,843 | $1,864 | $1,508 |
| Gains on non-marketable equity securities and publicly-held equity securities, net | $(8,918) | $(1,030) | $(238) |
| Deferred income taxes | $(1,424) | $(4,477) | $(2,489) |
| Other | $(287) | $(502) | $(278) |
| Accounts receivable | $(15,399) | $(13,063) | $(6,172) |
| Inventories | $(11,324) | $(4,781) | $(98) |
| Prepaid expenses and other assets | $577 | $(395) | $(1,522) |
| Accounts payable | $3,096 | $3,357 | $1,531 |
| Accrued and other current liabilities | $5,257 | $4,278 | $2,025 |
| Other long-term liabilities | $1,844 | $1,221 | $514 |
| Net cash provided by operating activities | $102,718 | $64,089 | $28,090 |
| Proceeds from sales of marketable securities | $15,157 | $495 | $50 |
| Proceeds from maturities of marketable securities | $11,226 | $11,195 | $9,732 |
| Proceeds from sales of non-marketable equity securities | $84 | $171 | $1 |
| Purchases of marketable securities | $(40,616) | $(26,575) | $(18,211) |
| Purchases of non-marketable equity securities | $(17,502) | $(1,486) | $(862) |
| Groq, Inc. | $(13,000) | ||
| Purchases related to property and equipment and intangible assets | $(6,042) | $(3,236) | $(1,069) |
| Acquisitions, net of cash acquired | $(1,535) | $(1,007) | $(83) |
| Other | $22 | $(124) | |
| Net cash used in investing activities | $(52,228) | $(20,421) | $(10,566) |
| Proceeds related to employee stock plans | $644 | $490 | $403 |
| Payments related to repurchases of common stock | $(40,086) | $(33,706) | $(9,533) |
| Payments related to employee stock plan taxes | $(7,948) | $(6,930) | $(2,783) |
| Dividends paid | $(974) | $(834) | $(395) |
| Principal payments on property and equipment and intangible assets | $(101) | $(129) | $(74) |
| Repayment of debt | $(1,250) | $(1,250) | |
| Other | $(9) | $(1) | |
| Net cash used in financing activities | $(48,474) | $(42,359) | $(13,633) |
| Change in cash and cash equivalents | $2,016 | $1,309 | $3,891 |
| Cash and cash equivalents at end of period | |||
| Cash and cash equivalents at end of period | |||
| Cash paid for income taxes, net | $20,288 | $15,118 | $6,549 |