NVIDIA CORPORATION
EPS and dividends shown under the calendar year in which the fiscal year ends (late January). SEC XBRL, split-adjusted. Prices: Yahoo Finance, retrieved 4 Oct 2026.
CAPITALIZATION: (7/26/26)
| ($ mill.) | (%) | |
|---|---|---|
| Long-Term Debt | 32,366 | 12.4 |
| Common Equity | 228,984 | 87.6 |
| Total | $261,350 | 100.0 |
Shs. ($0.001 par) – 24,100 mill. (8/21/26)
Excl. $1,000M current debt and $4,985M non-current operating lease liabilities. Shares per 10-Q cover.
INTERIM EARNINGS: (per sh.)
| Qu. | Apr | Jul | Oct | Jan |
|---|---|---|---|---|
| FY24 | 0.08 | 0.25 | 0.37 | 0.49 |
| FY25 | 0.60 | 0.67 | 0.78 | 0.90 |
| FY26 | 0.76 | 1.08 | 1.30 | 1.76 |
| FY27 | 2.39 | 2.46 |
Diluted, split-adjusted; Q4 derived. Fiscal quarters end late Apr., Jul., Oct. and Jan.
DIVIDENDS:
| RECORD | PAYABLE | |
|---|---|---|
| 0.01Q | 9/11/25 | 10/2/25 |
| 0.01Q | 12/4/25 | 12/26/25 |
| 0.01Q | 3/11/26 | 4/1/26 |
| 0.25Q | 6/4/26 | 6/26/26 |
| 0.25Q | 9/10/26 | 10/1/26 |
Quarterly rate raised from $0.01 to $0.25 in 2026. Source: Nasdaq dividend history.
BACKGROUND:
NVIDIA, incorporated in 1993, designs graphics processors (GPUs), networking and software; it owns no fabs, and its 10-K names TSMC as a principal foundry. The Compute & Networking segment sells the accelerators, networking and systems on which most AI data centers are built; Graphics covers gaming and professional GPUs. Revenue rose from $27.0 billion in fiscal 2023 (the year to January 2023) to $215.9 billion in fiscal 2026, and net income from $4.4 billion to $120.1 billion.
RECENT DEVELOPMENTS:
For the three months ended 7/26/26 (second quarter of fiscal 2027) revenue rose 106% to $96.2 billion, of which Data Center was $89.0 billion. Management guides third-quarter revenue to $108.0 billion and has given a preliminary expectation of roughly 70% revenue growth in fiscal 2028. Gross margins are about 75%, cash conversion is above 80%, the balance sheet holds net cash and the share count is shrinking. In 2026 the quarterly dividend was raised from $0.01 to $0.25.
PROSPECTS:
At $228.38 the shares sell at 24.5× consensus EPS for fiscal 2027 (the year to January 2027) and 14.6× fiscal 2028; consensus has EPS rising 68% in fiscal 2028 to about $15.68. NVIDIA's own history includes a 56% fall in EPS in fiscal 2023. In our view this is the best business in the AI supply chain at a fair price, not a margin of safety: our base case returns about 11% a year, close to our 10% hurdle, and the risk is that the spending cycle turns before fiscal 2028 earnings arrive.
STATISTICS:
| FISCAL YEAR | GROSS REVS. ($MILL.) | PROFIT MARGIN % | NET INCOME ($MILL.) | CAPITAL SPENDING ($MILL.) | ASSETS ($MILL.) | SHARES (MILL.) | BOOK VALUE PER SH.$ | EARN. PER SH.$ | DIV. PER SH.$ | DIV. PAY. % | PRICE RANGE | P/E RATIO | AVG. YIELD % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 17 | 6,910 | 24.1 | 1,666 | 176 | 9,841 | 23,400 | 0.25 | 0.06 | 0.01 | 19 | 3.00–0.62 | 28.1 | 0.7 |
| 18 | 9,714 | 31.4 | 3,047 | 593 | 11,241 | 24,240 | 0.31 | 0.12 | 0.01 | 12 | 6.08–2.38 | 35.1 | 0.3 |
| 19 | 11,716 | 35.3 | 4,141 | 600 | 13,292 | 24,240 | 0.39 | 0.17 | 0.02 | 9 | 7.32–3.11 | 31.5 | 0.3 |
| 20 | 10,918 | 25.6 | 2,796 | 489 | 17,315 | 24,480 | 0.50 | 0.11 | 0.02 | 14 | 6.49–3.28 | 43.2 | 0.3 |
| 21 | 16,675 | 26.0 | 4,332 | 1,128 | 28,791 | 24,790 | 0.68 | 0.17 | 0.02 | 9 | 14.73–4.52 | 55.6 | 0.2 |
| 22 | 26,914 | 36.2 | 9,752 | 976 | 44,187 | 25,060 | 1.06 | 0.39 | 0.02 | 4 | 34.65–11.57 | 60.0 | 0.1 |
| 23 | 26,974 | 16.2 | 4,368 | 1,833 | 41,182 | 24,660 | 0.90 | 0.17 | 0.02 | 9 | 28.95–10.81 | 116.9 | 0.1 |
| 24 | 60,922 | 48.8 | 29,760 | 1,069 | 65,728 | 24,643 | 1.74 | 1.19 | 0.02 | 1 | 62.85–18.95 | 34.4 | 0.0 |
| 25 | 130,497 | 55.8 | 72,880 | 3,236 | 111,601 | 24,477 | 3.24 | 2.94 | 0.03 | 1 | 153.13–60.70 | 36.4 | 0.0 |
| 26 | 215,938 | 55.6 | 120,067 | 6,042 | 206,803 | 24,304 | 6.47 | 4.90 | 0.04 | 1 | 212.19–86.62 | 30.5 | 0.0 |
Fiscal years end on the last Sunday in January (FY26 ended 1/25/26). Per-share data and shares adjusted for the 4-for-1 (Jul. 2021) and 10-for-1 (Jun. 2024) splits. Capital spending = purchases of property and equipment and intangible assets: FY17–21 from the FY2019 and FY2021 10-K cash flow statements, FY22–26 SEC XBRL. Profit margin = net income ÷ revenues; book value = stockholders' equity ÷ year-end shares; EPS diluted. Price range = intraday high–low within the fiscal year; P/E = mid-range price ÷ EPS; avg. yield = dividends declared ÷ mid-range price.
INCORPORATED:
California, April 1993; reincorporated in Delaware, April 1998
PRINCIPAL OFFICE:
2788 San Tomas Expressway, Santa Clara, CA 95051
Tel.: (408) 486-2000
ANNUAL MEETING:
2026 meeting held June 24
NUMBER OF STOCKHOLDERS:
Not disclosed in the 10-K
TRANSFER AGENT:
Computershare
REGISTRAR:
Not disclosed in the 10-K or proxy statement
SUPERINVESTOR HOLDINGS (DATAROMA):
No. of superinvestors: 18
Shares held: 36,293,621 (13F at 6/30/26)
OFFICERS:
Sources: SEC XBRL company facts (annual and quarterly figures) · 10-K FY2026 (business, capex, incorporation, office, officers) · 10-K FY2021 · 10-K FY2019 (FY17–21 capex) · 10-Q 7/26/26 (capitalization, results) · 2026 proxy (annual meeting, transfer agent) · Nasdaq dividend history · Yahoo Finance (prices, consensus, retrieved 4 Oct 2026) · Dataroma (superinvestors) · Pathos note (guidance and valuation detail). Ratios, book value, split adjustments and derived Q4 figures are Pathos calculations. The rating line and Prospects are Pathos opinion.
© 2026 Pathos Investments · pathosinvestments.com · For educational purposes only. Not investment advice. Prepared 4 October 2026.