Financial Statements
NVIDIA Corporation (NVDA)
Technology
Income Statement
| Year | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 3,326.45 | 3,543.31 | 3,997.93 | 4,280.16 | 4,130.00 | 4,682.00 | 5,010.00 | 6,910.00 | 9,714.00 | 11,716.00 |
| Cost of Revenue | 2,149.52 | 2,134.22 | 1,941.41 | 2,053.82 | 1,862.00 | 2,083.00 | 2,199.00 | 2,847.00 | 3,892.00 | 4,545.00 |
| Gross Profit | 1,176.92 | 1,409.09 | 2,056.52 | 2,226.34 | 2,268.00 | 2,599.00 | 2,811.00 | 4,063.00 | 5,822.00 | 7,171.00 |
| R&D Expenses | 908.85 | 848.83 | 1,002.61 | 1,147.28 | 1,336.00 | 1,360.00 | 1,331.00 | 1,463.00 | 1,797.00 | 2,376.00 |
| Sales, General and Administrative Expense | 367.02 | 361.51 | 405.61 | 430.82 | 436.00 | 480.00 | 602.00 | 663.00 | 815.00 | 991.00 |
| Operating Expenses | 1,275.87 | 1,153.34 | 1,408.22 | 1,578.10 | 1,772.00 | 1,840.00 | 2,064.00 | 2,129.00 | 2,612.00 | 3,367.00 |
| Operating Income | -98.94 | 255.75 | 648.30 | 648.24 | 496.00 | 759.00 | 747.00 | 1,934.00 | 3,210.00 | 3,804.00 |
| Interest Expense | 3.32 | 3.13 | 3.09 | 3.29 | 10.00 | 46.00 | 47.00 | 58.00 | 61.00 | 58.00 |
| Earnings before Tax | -82.29 | 271.17 | 663.40 | 662.04 | 510.00 | 755.00 | 743.00 | 1,905.00 | 3,196.00 | 3,896.00 |
| Income Tax Expense | -14.31 | 18.02 | 82.31 | 99.50 | 70.00 | 124.00 | 129.00 | 239.00 | 149.00 | -245.00 |
| Net Income | -67.99 | 253.15 | 581.09 | 562.54 | 440.00 | 631.00 | 614.00 | 1,666.00 | 3,047.00 | 4,141.00 |
| Net Income - Non-Controlling int | - | - | - | - | - | - | - | - | - | - |
| Net Income - Discounted ops | - | - | - | - | - | - | - | - | - | - |
| Net Income Com | -67.99 | 253.15 | 581.09 | 562.54 | 440.00 | 631.00 | 614.00 | 1,666.00 | 3,047.00 | 4,141.00 |
| Preferred Dividends | - | - | - | - | - | - | - | - | - | - |
| Earnings Per Share Basic | -0.12 | 0.44 | 0.96 | 0.91 | 0.75 | 1.14 | 1.13 | 3.08 | 5.09 | 6.81 |
| Earnings Per Share Diluted | -0.12 | 0.43 | 0.94 | 0.90 | 0.74 | 1.12 | 1.08 | 2.57 | 4.82 | 6.63 |
| Weighted Average Shares Outstanding | 549.57 | 575.18 | 603.65 | 619.32 | 588.00 | 552.00 | 543.00 | 541.00 | 599.00 | 608.00 |
| Weighted Average Shares Outstanding (Diluted) | 549.57 | 588.68 | 616.37 | 624.96 | 595.00 | 563.00 | 569.00 | 649.00 | 632.00 | 625.00 |
| Dividend per Share | - | - | - | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Margin | 0.35 | 0.40 | 0.51 | 0.52 | 0.55 | 0.56 | 0.56 | 0.59 | 0.60 | 0.61 |
| EBITDA Margin | 0.04 | 0.13 | 0.22 | 0.21 | 0.18 | 0.22 | 0.20 | 0.31 | 0.36 | 0.36 |
| EBIT Margin | -0.02 | 0.08 | 0.17 | 0.16 | 0.13 | 0.17 | 0.16 | 0.28 | 0.34 | 0.34 |
| Profit Margin | -0.02 | 0.07 | 0.14 | 0.13 | 0.11 | 0.14 | 0.12 | 0.24 | 0.31 | 0.35 |
| Free Cash Flow margin | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| EBITDA | 117.69 | 461.29 | 870.69 | 891.57 | 759.00 | 1,021.00 | 987.00 | 2,150.00 | 3,456.00 | 4,216.00 |
| EBIT | -78.97 | 274.30 | 666.49 | 665.33 | 520.00 | 801.00 | 790.00 | 1,963.00 | 3,257.00 | 3,954.00 |
| Consolidated Income | -67.99 | 253.15 | 581.09 | 562.54 | 440.00 | 631.00 | 614.00 | 1,666.00 | 3,047.00 | 4,141.00 |
| Earnings Before Tax Margin | -0.02 | 0.08 | 0.17 | 0.15 | 0.12 | 0.16 | 0.15 | 0.28 | 0.33 | 0.33 |
| Net Profit Margin | -0.02 | 0.07 | 0.15 | 0.13 | 0.11 | 0.13 | 0.12 | 0.24 | 0.31 | 0.35 |
Balance Sheet Statement
| Year | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and cash equivalents | 447.22 | 665.36 | 667.88 | 732.79 | 1,151.59 | 497.00 | 596.00 | 1,766.00 | 4,002.00 | 782.00 |
| Short-term investments | 1,281.01 | 1,825.20 | 2,461.70 | 2,995.10 | 3,520.22 | 4,126.00 | 4,441.00 | 5,032.00 | 3,106.00 | 6,640.00 |
| Cash and short-term investments | 1,728.23 | 2,490.56 | 3,129.58 | 3,727.88 | 4,671.81 | 4,623.00 | 5,037.00 | 6,798.00 | 7,108.00 | 7,422.00 |
| Receivables | 374.96 | 348.77 | 336.14 | 454.25 | 426.36 | 474.00 | 505.00 | 826.00 | 1,265.00 | 1,424.00 |
| Inventories | 330.67 | 345.52 | 340.30 | 412.47 | 387.76 | 483.00 | 418.00 | 794.00 | 796.00 | 1,575.00 |
| Property, Plant & Equipment Net | 571.86 | 568.86 | 560.07 | 576.14 | 582.74 | 557.00 | 466.00 | 521.00 | 997.00 | 1,404.00 |
| Goodwill and Intangible Assets | 490.30 | 658.59 | 967.17 | 953.36 | 939.19 | 840.00 | 784.00 | 722.00 | 670.00 | 663.00 |
| Long-term investments | - | - | - | - | - | - | - | - | - | - |
| Tax assets | 8.75 | 9.46 | 49.93 | 103.74 | 68.49 | 63.00 | - | - | - | 560.00 |
| Total non-current assets | 136.40 | 371.10 | 477.25 | 608.32 | 1,849.00 | 1,887.00 | 463.00 | 2,260.00 | 2,617.00 | 2,621.00 |
| Total current assets | 1,105.09 | 1,268.30 | 1,647.57 | 1,636.99 | 1,626.18 | 1,488.00 | 1,317.00 | 1,305.00 | 1,986.00 | 2,735.00 |
| Total assets | 3,585.92 | 4,495.25 | 5,552.93 | 6,412.24 | 7,250.89 | 7,201.00 | 7,370.00 | 9,841.00 | 11,241.00 | 13,292.00 |
| Payables | 344.53 | 286.14 | 335.07 | 356.43 | 324.39 | 293.00 | 296.00 | 485.00 | 596.00 | 511.00 |
| Short-term debt | - | - | - | - | - | - | 1,413.00 | 796.00 | 15.00 | - |
| Total current liabilities | 784.38 | 942.68 | 929.96 | 976.22 | 945.50 | 896.00 | 2,351.00 | 1,788.00 | 1,153.00 | 1,329.00 |
| Long-term debt | 24.45 | 23.39 | 21.44 | 19.00 | 1,373.88 | 1,398.00 | 97.00 | 2,014.00 | 1,985.00 | 1,988.00 |
| Total debt | 24.45 | 23.39 | 21.44 | 19.00 | 1,373.88 | 1,398.00 | 1,510.00 | 2,810.00 | 2,000.00 | 1,988.00 |
| Deferred revenue | - | - | - | - | - | - | - | - | - | - |
| Tax Liabilities | - | - | - | - | - | - | - | - | - | - |
| Deposit Liabilities | - | - | - | - | - | - | - | - | - | - |
| Total non-current liabilities | 136.40 | 371.10 | 477.25 | 608.32 | 1,849.00 | 1,887.00 | 463.00 | 2,260.00 | 2,617.00 | 2,621.00 |
| Total liabilities | 920.78 | 1,313.78 | 1,407.20 | 1,584.54 | 2,794.50 | 2,783.00 | 2,814.00 | 4,048.00 | 3,770.00 | 3,950.00 |
| Other comprehensive income | 12.17 | 10.27 | 10.61 | 9.98 | 4.88 | 8.00 | -4.00 | -16.00 | -18.00 | -12.00 |
| Retained earnings (deficit) | 1,896.18 | 2,149.33 | 2,730.42 | 3,246.09 | 3,504.74 | 3,949.00 | 4,350.00 | 6,108.00 | 8,787.00 | 12,565.00 |
| Total shareholders equity | 2,665.14 | 3,181.46 | 4,145.72 | 4,827.70 | 4,456.40 | 4,418.00 | 4,469.00 | 5,762.00 | 7,471.00 | 9,342.00 |
| Investments | 1,281.01 | 1,825.20 | 2,461.70 | 2,995.10 | 3,520.22 | 4,126.00 | 4,441.00 | 5,032.00 | 3,106.00 | 6,640.00 |
| Net Debt | -1,703.78 | -2,467.17 | -3,108.14 | -3,708.89 | -3,297.93 | -3,225.00 | -3,527.00 | -3,988.00 | -5,108.00 | -5,434.00 |
| Other Assets | 46.97 | 42.09 | 99.34 | 180.66 | 138.78 | 133.00 | 93.00 | 118.00 | 86.00 | 136.00 |
| Other Liabilities | 439.85 | 656.54 | 594.89 | 619.79 | 621.11 | 603.00 | 642.00 | 507.00 | 542.00 | 818.00 |
Cash Flow Statement
| Year | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 |
|---|---|---|---|---|---|---|---|---|---|---|
| Depreciation & Amortization | 196.66 | 186.99 | 204.21 | 226.24 | 239.00 | 220.00 | 197.00 | 187.00 | 199.00 | 262.00 |
| Stock-based compensation | 240.79 | 85.04 | 83.56 | 67.95 | 110.00 | 140.00 | 194.00 | 247.00 | 391.00 | 557.00 |
| Operating Cash Flow | 487.81 | 675.80 | 909.16 | 824.17 | 835.00 | 906.00 | 1,175.00 | 1,672.00 | 3,502.00 | 3,743.00 |
| Capital Expenditure | -77.60 | -97.89 | -138.74 | -183.31 | -230.00 | -101.00 | -79.00 | -169.00 | -591.00 | -600.00 |
| Acquisitions and disposals | - | - | -348.88 | - | -17.00 | - | - | - | - | - |
| Investment purchases and sales | -441.51 | -549.63 | -654.15 | -561.03 | -554.00 | -625.00 | -345.00 | -624.00 | 1,869.00 | -3,497.00 |
| Investing Cash Flow | - | - | - | - | - | - | - | - | - | - |
| Insurance (repayment) of debt | - | - | - | - | - | - | - | - | - | - |
| Insurance (buybacks) of shares | - | - | - | - | - | - | - | - | - | - |
| Dividend payments | - | - | - | -46.87 | -181.00 | -186.00 | -213.00 | -261.00 | -341.00 | -371.00 |
| Financing Cash Flow | 61.06 | 192.02 | 236.72 | -15.27 | 390.00 | -834.00 | -676.00 | 291.00 | -2,544.00 | -2,866.00 |
| Effect of forex changes on cash | - | - | - | - | - | - | - | - | - | - |
| Net cash flow / Change in cash | 29.53 | 218.14 | 2.52 | 64.91 | 419.00 | -655.00 | 99.00 | 1,170.00 | 2,236.00 | -3,220.00 |
| Free Cash Flow | 410.21 | 577.91 | 770.42 | 640.86 | 605.00 | 805.00 | 1,096.00 | 1,503.00 | 2,911.00 | 3,143.00 |
| Net Cash/Marketcap | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Retained Earning Schedule
Retained Earning Schedule
| Year | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 |
|---|---|---|---|---|---|---|---|---|---|---|
| Retained Earnings (Previous Year) | - | 1,896 | 2,149 | 2,730 | 3,246 | 3,505 | 3,949 | 4,350 | 6,108 | 8,787 |
| Net Income | -68 | 253 | 581 | 563 | 440 | 631 | 614 | 1,666 | 3,047 | 4,141 |
| Stock Dividends | 1,964 | - | - | - | -0 | -1 | - | 353 | -27 | 8 |
| Divident Paid | - | - | - | -47 | -181 | -186 | -213 | -261 | -341 | -371 |
| Retained Earnings | 1,896 | 2,149 | 2,730 | 3,246 | 3,505 | 3,949 | 4,350 | 6,108 | 8,787 | 12,565 |
PPE Schedule
| Year | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 |
|---|---|---|---|---|---|---|---|---|---|---|
| Gross PPE | - | 572 | 569 | 560 | 576 | 583 | 557 | 466 | 521 | 997 |
| Annual Depreciation | 649 | 95 | 130 | 199 | 237 | 75 | -12 | 224 | 1,067 | 1,007 |
| Capital Expenditure | -78 | -98 | -139 | -183 | -230 | -101 | -79 | -169 | -591 | -600 |
| Net PPE | 572 | 569 | 560 | 576 | 583 | 557 | 466 | 521 | 997 | 1,404 |
Intangible and Goodwill Schedule
Intangible and Goodwill Schedule
| Year | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 |
|---|---|---|---|---|---|---|---|---|---|---|
| Intangible and Goodwill (Previous Year) | - | 490 | 659 | 967 | 953 | 939 | 840 | 784 | 722 | 670 |
| New Purchases | -442 | -550 | -654 | -561 | -554 | -625 | -345 | -624 | 1,869 | -3,497 |
| Intangible and Goodwill | 490 | 659 | 967 | 953 | 939 | 840 | 784 | 722 | 670 | 663 |
NVIDIA Corporation income statement is the only one that provides an overview of company sales and net income
The reasoning behind the adjustment, however, is that free cash flow is meant to measure money being spent right now, not transactions that happened in the past. This makes NVIDIA Corporation FCF a useful instrument for identifying growing companies with high up-front costs, which may eat into earnings now but have the potential to pay off later.