NVIDIA (NVDA) financial statements
NVIDIA reported revenue of $215.9B in fiscal 2026, up 46.6% a year over 9 years.
Net income was $120.1B and the operating margin 60.4%, against 28.0% in 2017.
Free cash flow was $96.7B, and the company returned $974M in dividends and $40.1B in net buybacks.
The diluted share count fell 6% over the period (buybacks).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from NVIDIA's 10-K filings with the SEC.
| Fiscal year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $6.9B | $9.7B | $11.7B | $10.9B | $16.7B | $26.9B | $27.0B | $60.9B | $130.5B | $215.9B |
| Cost of revenue | $2.8B | $3.9B | $4.5B | $4.2B | $6.3B | $9.4B | $11.6B | $16.6B | $32.6B | $62.5B |
| Gross profit | $4.1B | $5.8B | $7.2B | $6.8B | $10.4B | $17.5B | $15.4B | $44.3B | $97.9B | $153.5B |
| Research and development | $1.5B | $1.8B | $2.4B | $2.8B | $3.9B | $5.3B | $7.3B | $8.7B | $12.9B | $18.5B |
| Selling, general and admin | $663M | $815M | $991M | $1.1B | $1.9B | $2.2B | $2.4B | $2.7B | $3.5B | $4.6B |
| Operating income | $1.9B | $3.2B | $3.8B | $2.8B | $4.5B | $10.0B | $4.2B | $33.0B | $81.5B | $130.4B |
| Interest expense | $58M | $61M | $58M | $52M | $184M | $236M | $262M | $257M | $247M | $259M |
| Pre-tax income | $1.9B | $3.2B | $3.9B | $3.0B | $4.4B | $9.9B | $4.2B | $33.8B | $84.0B | $141.4B |
| Income tax | $239M | $149M | -$245M | $174M | $77M | $189M | -$187M | $4.1B | $11.1B | $21.4B |
| Net income | $1.7B | $3.0B | $4.1B | $2.8B | $4.3B | $9.8B | $4.4B | $29.8B | $72.9B | $120.1B |
| EPS (diluted) | $0.06 | $0.12 | $0.17 | $0.11 | $0.17 | $0.39 | $0.17 | $1.19 | $2.94 | $4.90 |
| Diluted shares | 25.96B | 25.28B | 25.00B | 24.72B | 25.10B | 25.35B | 25.07B | 24.94B | 24.80B | 24.51B |
| Gross margin | 58.8% | 59.9% | 61.2% | 62.0% | 62.3% | 64.9% | 56.9% | 72.7% | 75.0% | 71.1% |
| Operating margin | 28.0% | 33.0% | 32.5% | 26.1% | 27.2% | 37.3% | 15.7% | 54.1% | 62.4% | 60.4% |
| Net margin | 24.1% | 31.4% | 35.3% | 25.6% | 26.0% | 36.2% | 16.2% | 48.8% | 55.8% | 55.6% |
Balance sheet
Fiscal years, from NVIDIA's 10-K filings with the SEC.
| Fiscal year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $6.8B | $7.1B | $7.4B | $10.9B | $11.6B | $21.2B | $13.3B | $26.0B | $43.2B | $10.6B |
| Receivables | $826M | $1.3B | $1.4B | $1.7B | $2.4B | $4.7B | $3.8B | $10.0B | $23.1B | $38.5B |
| Inventory | $794M | $796M | $1.6B | $979M | $1.8B | $2.6B | $5.2B | $5.3B | $10.1B | $21.4B |
| Total current assets | $8.5B | $9.3B | $10.6B | $13.7B | $16.1B | $28.8B | $23.1B | $44.3B | $80.1B | $125.6B |
| Property, plant and equipment | $521M | $997M | $1.4B | $1.7B | $2.1B | $2.8B | $3.8B | $3.9B | $6.3B | $10.4B |
| Goodwill | $618M | $618M | $618M | $618M | $4.2B | $4.3B | $4.4B | $4.4B | $5.2B | $20.8B |
| Total assets | $9.8B | $11.2B | $13.3B | $17.3B | $28.8B | $44.2B | $41.2B | $65.7B | $111.6B | $206.8B |
| Total current liabilities | $1.8B | $1.2B | $1.3B | $1.8B | $3.9B | $4.3B | $6.6B | $10.6B | $18.0B | $32.2B |
| Long-term debt | — | — | — | $2.0B | $6.0B | $10.9B | $9.7B | $8.5B | $8.5B | $7.5B |
| Total liabilities | $4.0B | $3.8B | $4.0B | $5.1B | $11.9B | $17.6B | $19.1B | $22.8B | $32.3B | $49.5B |
| Shareholders' equity | $5.8B | $7.5B | $9.3B | $12.2B | $16.9B | $26.6B | $22.1B | $43.0B | $79.3B | $157.3B |
| Net debt | -$1.8B | -$4.0B | -$782M | -$8.9B | $6.1B | $9.0B | $7.6B | $2.4B | -$126M | -$2.1B |
Cash flow
Fiscal years, from NVIDIA's 10-K filings with the SEC.
| Fiscal year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $1.7B | $3.5B | $3.7B | $4.8B | $5.8B | $9.1B | $5.6B | $28.1B | $64.1B | $102.7B |
| Capital spending | $176M | $593M | $600M | $489M | — | $976M | $1.8B | $1.1B | $3.2B | $6.0B |
| Free cash flow | $1.5B | $2.9B | $3.1B | $4.3B | — | $8.1B | $3.8B | $27.0B | $60.9B | $96.7B |
| Stock-based compensation | $247M | $391M | $557M | $844M | $1.4B | $2.0B | $2.7B | $3.5B | $4.7B | $6.4B |
| Dividends paid | $261M | $341M | $371M | $390M | $395M | $399M | $398M | $395M | $834M | $974M |
| Share buybacks (net) | -$739M | -$909M | -$1.6B | $0 | $0 | $0 | -$10.0B | -$9.5B | -$33.7B | -$40.1B |
| Net borrowing | $2.0B | $2.0B | $2.0B | $2.0B | $0 | -$1.0B | $0 | -$1.2B | -$1.2B | $0 |
| Free cash flow margin | 21.6% | 29.9% | 26.8% | 39.1% | — | 30.2% | 14.1% | 44.4% | 46.6% | 44.8% |
| Dividends per share | $0.01 | $0.01 | $0.01 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.03 | $0.04 |
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Open NVDA in InvestinglyQuestions
What was NVIDIA's revenue in 2026?
$215.9B in fiscal 2026, from its 10-K filing.
How much free cash flow does NVIDIA generate?
$96.7B in fiscal 2026 (operating cash flow minus capital spending).
From NVIDIA's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.