NVIDIA NVDA

Nasdaq · Semiconductors & Related Devices · $4.86T
Every report since 2022 →

No closes on file for NVDA yet.

Data provided by Databento (end of day). Next close = the first close after a story against the close before it; official daily closes only, not a call, not advice.

After a story on NVDA, the first close moved a median −0.89%. Up 37 of 88; over the next three trading days, a median +0.41%.

The numbers

fiscal 2026, as filed with the SEC · 66-metric EOD snapshot via Databento
Market cap$4.86T
EV / True FCF50.5x
Revenue$215.9B +65.5%
True FCF (ex-SBC)$96.2B +33.3%
Rule of 40113.0%
ROIC70.9%
True FCF Yield2.0%
EPS, diluted$4.90 +66.7%
Modern Valuation (EOD)
Market Cap$4.86T
Enterprise Value$4,862B
EV / True FCF50.54
EV / FCF47.40
EV / Gross Profit31.68
EV / EBIT37.29
EV / Sales22.52
P / E (GAAP)40.50
P / FCF47.41
P / Oper. CF47.34
P / Book30.92
Owner & Cash Yields
True FCF Yield2.0%
FCF Yield2.1%
Owner Earn. Yield2.4%
Earnings Yield2.5%
Shareholder Yield+0.7%
Buyback Yield0.8%
Dividend Yield—
Dividend / sh$0.04
Payout Ratio1%
FCF / sh$4.26
EPS (diluted)$4.90
Compounder & Returns
Rule of 40113.0%
ROIC70.9%
Cash ROIC (CROIC)65.7%
GP / Assets74.2%
ROE76.3%
ROA58.1%
Gross Margin71.1%
Oper. Margin60.4%
Net Margin55.6%
FCF Margin47.5%
True FCF Margin44.5%
Quality & Dilution
Cash Conversion85%
Accrual Ratio+8.4%
SBC % of FCF6.2%
SBC % of Rev3.0%
Reinvest. Rate18%
Sales Growth Y/Y+65.5%
Sales 3Y CAGR+100.0%
EPS Growth Y/Y+66.7%
FCF Growth Y/Y+33.3%
FCF 3Y CAGR—
Share Change Y/Y−1.2%
Balance Sheet & Scale
Revenue (FY)$215.9B
Gross Profit (FY)$153.5B
Oper. Income (FY)$130.4B
GAAP Net Income$120.1B
True FCF (ex-SBC)$96.2B
Cash & Equiv$10.6B
Total Debt$9.5B
Net Cash (Debt)$1.1B
Net Cash % MCap0.0%
Debt / FCF (yrs)0.1y
Current Ratio3.9124.10B sh
Price & Technicals (EOD)
Perf Week—
Perf Month—
Perf Quarter—
Perf Half Y—
Perf YTD—
SMA 20 Dist—
SMA 50 Dist—
SMA 100 Dist—
Window High—
Window Low—
RSI (14) · Vol—
Income Distribution & Cash Flow ConversionHow every dollar of NVDA revenue flows through cost of goods, operating expenses, taxes, GAAP net income, and dilution-adjusted free cash flow
REVENUE · 100%$215.9BGROSS PROFIT · 71.1%$153.5BCOST OF REV · 28.9%$62.5BOPER. INCOME · 60.4%$130.4BOPEX · 10.7%R&D $18.5B · SG&A $4.6BNET INCOME · 55.6%$120.1BTAX & OTHER · 4.8%$10.3B
Where Every $100 of Revenue Goes (FY2026)
Cost of Revenue (COGS)$62.5B ($28.9 / $100)
R&D Reinvestment$18.5B ($8.6 / $100)
SG&A & Other OpEx$4.6B ($2.1 / $100)
Tax & Non-Operating$10.3B ($4.8 / $100)
Net Profit Kept$120.1B ($55.6 / $100)
Earnings Quality: GAAP Profit → True Owner Cash (FY2026)
GAAP Net Income$120.1B (55.6% margin)
Operating Cash Flow (OCF)$102.7B(47.6% of rev)
Less: Capital Expenditures−$138.7M(0.1% of rev)
Standard Free Cash Flow (FCF)$102.6B(47.5% margin)
Less: Stock-Based Comp (SBC)−$6.4B(6.2% of FCF)
True FCF (Owner Cash ex-SBC)$96.2B(44.5% of rev)

Operating leverage — margins

GrossOperatingNet
0%40%80%71%60%56%FY22FY23FY24FY25FY26
Unlocked SEC EDGAR Accounting Statements (USD)All 3 statements · Common-size (% of Revenue / Assets) · YoY growth · Tap any core row to explain
Line Item (USD)FY2022FY2023FY2024FY2025FY2026YoY Δ4Y CAGRTrend
Income Statement
Cost of Revenue (COGS)$9.4B$11.6B$16.6B$32.6B$62.5B+91.4%+60.4%
Research & Development (R&D)$5.3B$7.3B$8.7B$12.9B$18.5B+43.2%+36.9%
Selling, General & Admin (SG&A)$2.2B$2.4B$2.7B$3.5B$4.6B+31.2%+20.6%
Total Operating Expenses$7.4B$11.1B$11.3B$16.4B$23.1B+40.7%+32.7%
Interest Expense$236.0M$262.0M$257.0M$247.0M$259.0M+4.9%+2.4%
Income Tax Expense$189.0M$-187.0M$4.1B$11.1B$21.4B+91.8%+226.1%
Diluted Shares2.54B25.07B24.94B24.80B24.51B−1.2%+76.3%
Balance Sheet
Cash & Equivalents$2.0B$3.4B$7.3B$8.6B$10.6B+23.5%+51.9%
Inventory$2.6B$5.2B$5.3B$10.1B$21.4B+112.3%+69.3%
Total Current Assets$28.8B$23.1B$44.3B$80.1B$125.6B+56.8%+44.5%
Total Assets$44.2B$41.2B$65.7B$111.6B$206.8B+85.3%+47.1%
Total Current Liabilities$4.3B$6.6B$10.6B$18.0B$32.2B+78.2%+65.0%
Total Debt (Short + Long Term)$10.9B$12.2B$11.0B$8.5B$9.5B+11.9%−3.6%
Total Liabilities$17.6B$19.1B$22.8B$32.3B$49.5B+53.4%+29.6%
Stockholders' Equity$26.6B$22.1B$43.0B$79.3B$157.3B+98.3%+55.9%
Net Cash / (Net Debt)$-9.0B$-8.8B$-3.7B$126.0M$1.1B+803.2%—
Invested Capital$35.6B$30.9B$46.7B$79.2B$156.2B+97.2%+44.8%
Cash Flow & Capital Allocation
Depreciation & Amortization (D&A)$1.2B$1.5B$1.5B$1.9B$2.8B+52.5%+24.7%
Stock-Based Compensation (SBC)$2.0B$2.7B$3.5B$4.7B$6.4B+34.8%+33.6%
Capital Expenditures (CapEx)————$138.7M——
True FCF (ex-SBC Owner Cash)————$96.2B——
Share Repurchases (Buybacks)$0$10.0B$9.5B$33.7B$40.1B+18.9%—
Dividends Paid$399.0M$398.0M$395.0M$834.0M$974.0M+16.8%+25.0%

Fundamentals, income distribution and multi-year statements from SEC EDGAR filings (public domain). Valuation multiples, performance and technicals computed from Databento 1D EOD closes. For information only, not investment advice.

On the Wire

what NVDA did at the next close after each story
Nov 5—
Nov 5—
Nov 3+2.29%
Oct 29−0.80%
Oct 27+0.90%
Oct 26—
Oct 22—
Oct 20−0.29%
Oct 19−0.29%
Oct 13+0.97%

The record, by topic

last 90 days · stories · median first close
semis49−1.51%
cloud18−0.18%
earnings6−1.25%
regulation5−0.80%
geo5−0.99%
macro5+2.19%
The Wire at 7 AM ET, free. Top stories with a bull and a bear case on each, every morning. No account needed.