Computed from published fixed rules, not a model's judgement — though one input, the count of high-severity risks, comes from the AI analysis below.
Not investment advice and not a price target: it scores the quarter's fundamentals, not the stock. Full methodology →
AI Takeaway
NVIDIA delivered exceptional FY2026 results with revenue surging 65.5% YoY to $215.9B and net income jumping 64.7% to $120.1B, driven by explosive demand for AI computing infrastructure.
Revenue
$215.94B
+65.47% YoY
EPS (Diluted)
$4.90
+66.67% YoY
Gross Margin
71.1%
-3.9 pts YoY
Operating Income
$130.39B
+60.08% YoY
Source: SEC XBRL
Nvidia (NVDA) reported FY2026 revenue of $215.94B, up 65.5% year over year. Operating margin was 60.4%, down 2.0 points from 62.4% a year earlier. Operating cash flow was $102.72B, up 60.3% year over year.
Last 4 quarters: 4 beats
| Quarter | Actual EPS (USD) | Consensus (USD) | Result |
|---|---|---|---|
| Jun 2026 | 1.87 | 1.79 | Beat +4.3% |
| Mar 2026This filing | 1.62 | 1.56 | Beat +3.6% |
| Dec 2025 | 1.30 | 1.27 | Beat +2.0% |
| Sep 2025 | 1.05 | 1.03 | Beat +2.1% |
Reported EPS of $1.62 versus the $1.56 analyst consensus — a +3.6% beat for Mar 2026.
Compiled by AI from this SEC filing
Revenue grew 65.5% YoY from $130.5B to $215.9B in FY2026, reflecting unprecedented demand for NVIDIA's data center GPUs powering AI training and inference workloads across hyperscalers and enterprises globally.
Source: 10-K Income Statement
Gross margin declined approximately 3.9 percentage points YoY to 71.1% (from 75.0%), as cost of revenue grew 91.4% — significantly faster than revenue growth of 65.5% — likely reflecting higher costs associated with new product ramps such as Blackwell architecture.
Source: 10-K Income Statement
Operating income reached $130.4B (operating margin 60.4%) and operating cash flow hit $102.7B, up 60.3% YoY, demonstrating NVIDIA's extraordinary ability to convert revenue growth into cash, funding $40.1B in share buybacks and $974M in dividends.
Source: 10-K Income Statement & Cash Flow Statement
Total assets nearly doubled to $206.8B (+85.3% YoY) while stockholders' equity surged 98.3% to $157.3B; investing cash outflows ballooned to -$52.2B (vs. -$20.4B prior year), indicating heavy investment in infrastructure, acquisitions, or marketable securities to support growth.
Source: 10-K Balance Sheet & Cash Flow Statement
R&D expenses grew 43.2% YoY to $18.5B, representing approximately 8.6% of revenue, underscoring NVIDIA's commitment to next-generation chip architectures and software ecosystems to maintain its dominant position in AI computing.
Source: 10-K Income Statement
Compiled by AI from this SEC filing · 3 high, 2 medium, 0 low
Cost of revenue grew 91.4% YoY — nearly double the revenue growth rate of 65.5% — compressing gross margin by ~390 basis points to 71.1%. If new architecture ramp costs (e.g., Blackwell) remain elevated or yields are lower than expected, margins could face further pressure in future periods.
Source: 10-K Income Statement
The extraordinary revenue growth is heavily dependent on continued hyperscaler and enterprise capital expenditure on AI infrastructure. Any slowdown in AI investment cycles, budget cuts by major cloud providers, or demand normalization could cause significant revenue deceleration given the high base established in FY2026.
Source: 10-K Income Statement
NVIDIA operates in a highly sensitive geopolitical environment where U.S. export restrictions on advanced semiconductors to certain countries (notably China) could materially limit addressable markets. Escalating trade tensions or new restrictions could reduce revenue opportunities and require costly product redesigns.
Source: 10-K — inferred from financial data and industry context
NVIDIA is a fabless semiconductor company relying on third-party foundries (primarily TSMC) for chip manufacturing. Any disruption to advanced node capacity, geopolitical events affecting Taiwan, or allocation constraints could limit NVIDIA's ability to meet surging demand and impact revenue.
Source: 10-K — inferred from financial data and industry context
NVIDIA returned over $41B to shareholders in FY2026 ($40.1B buybacks + $974M dividends) while investing -$52.2B in investing activities. Sustaining this level of capital return requires continued strong cash generation; any revenue slowdown could force a reduction in buyback programs, potentially impacting investor sentiment.
Source: 10-K Cash Flow Statement
| Metric | Current | Previous | YoY Change |
|---|---|---|---|
Revenue $B | 215.94 $B | 130.50 $B | +65.47% |
Cost of Revenue $B | 62.48 $B | 32.64 $B | +91.41% |
Gross Profit $B | 153.46 $B | 97.86 $B | +56.82% |
Operating Income $B | 130.39 $B | 81.45 $B | +60.08% |
Net Income $B | 120.07 $B | 72.88 $B | +64.75% |
EPS (Basic) $ | 4.93 $ | 2.97 $ | +65.99% |
EPS (Diluted) $ | 4.90 $ | 2.94 $ | +66.67% |
R&D Expense $B | 18.50 $B | 12.91 $B | +43.23% |
SG&A Expense $B | 4.58 $B | 3.49 $B | +31.17% |
Answers draw on this SEC filing and the data on this page
NVIDIA delivered exceptional Q1 FY2027 operating growth, with revenue up 85% year over year to $81.6B and operating income up 147% to $53.5B, while net income was further boosted by $15.9B of other income, primarily unrealized investment gains. Source: 10-Q Item 2 MD&A, pp.24, 27.
NVIDIA reported a significant 62.5% year-over-year revenue increase in Q3 FY2026, driven by strong demand and operational efficiency, despite slight margin compression.
In Q2 FY2026, NVIDIA generated $46.74B in revenue (up 55.6% YoY) and $26.42B in net income, driven by robust data center demand for its Blackwell AI platform despite gross margin compression to 72.4% caused by product mix shifts and export control challenges.
Other companies in Semiconductors