Nvidia
1 of 416 with a diagram, by size
Q2 FY27 Apr 27 – Jul 26, 2026
Revenue$96.2B
+106% year over year
Gross profit$72.1B
75% margin
Operating profit$63.7B
66% margin
Net profit$59.7B
62% margin
The numbers behind the diagram
| Item | Value | Share of revenue | Year over year |
|---|---|---|---|
| Revenue | 96.2 | 100% | +106% |
| Cost of revenue | −24.1 | 25% | |
| Gross profit | 72.1 | 75% margin | +3pp |
| R&D | −7.1 | 7% | −2pp |
| SG&A | −1.4 | 2% | −1pp |
| Operating profit | 63.7 | 66% margin | +5pp |
| Other income, net | 7.8 | ||
| Tax | −11.8 | ||
| Net profit | 59.7 | 62% margin | +6pp |
| Item | Value | Share of revenue | Year over year |
|---|---|---|---|
| Revenue | 81.6 | 100% | +85% |
| Hyperscale | 37.9 | 46% | +115% |
| AI clouds industrial | 37.4 | 46% | +74% |
| Edge computing | 6.4 | 8% | +29% |
| Cost of revenue | −20.5 | 25% | |
| Gross profit | 61.2 | 75% margin | +14pp |
| R&D | −6.3 | 8% | −1pp |
| SG&A | −1.3 | 1% | −1pp |
| Operating profit | 53.5 | 66% margin | +16pp |
| Other income, net | 16.4 | ||
| Tax | −11.6 | ||
| Net profit | 58.3 | 71% margin | +29pp |
| Item | Value | Share of revenue | Year over year |
|---|---|---|---|
| Revenue | 68.13 | 100% | +73% |
| Compute | 51.33 | 75% | +58% |
| Networking | 10.98 | 16% | +263% |
| Gaming | 3.73 | 6% | +47% |
| Professional visualization | 1.32 | 2% | +159% |
| Automotive | 0.60 | 1% | +6% |
| OEM & other | 0.16 | 0% | +28% |
| Cost of revenue | −17.03 | 25% | |
| Gross profit | 51.09 | 75% margin | +2pp |
| R&D | −5.51 | 8% | −1pp |
| SG&A | −1.28 | 2% | −1pp |
| Operating profit | 44.30 | 65% margin | +4pp |
| Other income, net | 6.10 | ||
| Tax | −7.44 | ||
| Net profit | 42.96 | 63% margin | +7pp |
| Item | Value | Share of revenue | Year over year |
|---|---|---|---|
| Revenue | 57.01 | 100% | +62% |
| Compute | 43.03 | 76% | +56% |
| Networking | 8.19 | 14% | +162% |
| Gaming | 4.27 | 8% | +30% |
| Professional visualization | 0.76 | 1% | +56% |
| Automotive | 0.59 | 1% | +32% |
| OEM & other | 0.17 | 0% | +79% |
| Cost of revenue | −15.16 | 27% | |
| Gross profit | 41.85 | 73% margin | −1pp |
| R&D | −4.71 | 8% | −1pp |
| SG&A | −1.13 | 2% | −1pp |
| Operating profit | 36.01 | 63% margin | +1pp |
| Other income, net | 1.93 | ||
| Tax | −6.03 | ||
| Net profit | 31.91 | 56% margin | +1pp |
| Item | Value | Share of revenue | Year over year |
|---|---|---|---|
| Revenue | 46.74 | 100% | +56% |
| Compute | 33.84 | 73% | +50% |
| Networking | 7.25 | 16% | +98% |
| Gaming | 4.29 | 9% | +49% |
| Professional visualization | 0.60 | 1% | +32% |
| Automotive | 0.59 | 1% | +69% |
| OEM & other | 0.17 | 0% | +97% |
| Cost of revenue | −12.89 | 28% | |
| Gross profit | 33.85 | 72% margin | −3pp |
| R&D | −4.29 | 9% | −1pp |
| SG&A | −1.12 | 3% | +0pp |
| Operating profit | 28.44 | 61% margin | −1pp |
| Other income, net | 2.77 | ||
| Tax | −4.78 | ||
| Net profit | 26.42 | 57% margin | +1pp |
Financial health
The balance sheet, the quarter's capital flow, the debt schedule and the capital structure of the quarter shown above.
Assets $320.3B Liabilities $91.3B Equity $229.0B as of Jul 26, 2026 Read with the coarse template.
The numbers behind the diagram
| Item | Value | Share |
|---|---|---|
| Assets | $320.3B | 100% |
| Cash | $22.4B | 7% |
| Other current assets | $175.0B | 55% |
| Property & equipment | $14.3B | 4% |
| Goodwill | $21.1B | 7% |
| Intangibles | $3.0B | 1% |
| Other assets | $84.5B | 26% |
| Liabilities | $91.3B | 29% |
| Short-term debt | $1.0B | 0% |
| Other current liabilities | $42.0B | 13% |
| Long-term debt | $32.4B | 10% |
| Other liabilities | $15.9B | 5% |
| Equity | $229.0B | 71% |
| Stockholders' equity | $229.0B | 71% |
Money moved $46.04B Free cash flow $21.40B Apr 27 – Jul 26, 2026 Quarter derived from year-to-date statements.
The numbers behind the diagram
| Item | Value | Share |
|---|---|---|
| Where the money came from | $46.04B | 100% |
| Operating cash flow | $24.08B | 52% |
| Other financing | $21.96B | 48% |
| Where it went | −$46.04B | 100% |
| Capital expenditure | −$2.68B | 6% |
| Acquisitions | −$0.21B | 0% |
| Other investing | −$5.81B | 13% |
| Share buybacks | −$22.13B | 48% |
| Dividends | −$6.00B | 13% |
| Added to cash | −$9.21B | 20% |
Total debt $33.4B Cash & short-term investments $22.4B Net debt $10.9B Operating cash flow, last 4 quarters $134.4B Interest expense, last 4 quarters $0.5B
The numbers behind the diagram
| Due | Item | Coupon | Value |
|---|---|---|---|
| 2026 | Notes | 3.2% | $1.0B |
| 2028 | Notes | 1.55% | $1.3B |
| 2030 | Notes | 2.85% | $1.5B |
| 2031 | Notes | 2% | $1.3B |
| 2040 | Notes | 3.5% | $1.0B |
| 2050 | Notes | 3.5% | $2.0B |
| 2060 | Notes | 3.7% | $0.5B |
Debt to equity 0.15× Net debt to EBITDA 0.05× Interest coverage 425.82× Return on invested capital 113.7% Cost of debt, after tax 1.9% Book values as of Jul 26, 2026.
The numbers behind the diagram
| Item | Value | How it is computed |
|---|---|---|
| Total debt short-term and long-term borrowings, as on the debt tab | $33.37B | short-term and long-term borrowings, as on the debt tab |
| Equity, book value stockholders' equity incl. minority interests, as on the balance sheet | $228.98B | stockholders' equity incl. minority interests, as on the balance sheet |
| Total capital total debt + equity | $262.35B | total debt + equity |
| Debt share total debt / total capital | 13% | total debt / total capital |
| Equity share equity / total capital | 87% | equity / total capital |
| Net debt total debt − cash and short-term investments | $10.92B | total debt − cash and short-term investments |
| EBIT, last 4 quarters operating income, four quarters summed | $197.58B | operating income, four quarters summed |
| Depreciation & amortisation, last 4 quarters from the cash flow statement, four quarters summed | $3.69B | from the cash flow statement, four quarters summed |
| EBITDA, last 4 quarters EBIT + depreciation & amortisation | $201.27B | EBIT + depreciation & amortisation |
| Interest expense, last 4 quarters four quarters summed | $0.46B | four quarters summed |
| Debt to equity total debt / equity | 0.15× | total debt / equity |
| Net debt to EBITDA net debt / EBITDA | 0.05× | net debt / EBITDA |
| Interest coverage EBIT / interest expense | 425.82× | EBIT / interest expense |
| Effective tax rate income tax / pretax income, kept within 0 to 50% | 16.1% | income tax / pretax income, kept within 0 to 50% |
| NOPAT, last 4 quarters EBIT × (1 − effective tax rate) | $165.87B | EBIT × (1 − effective tax rate) |
| Invested capital, average total debt + equity − cash and short-term investments, mean of this quarter end and the one a year earlier (Jul 27, 2025) | $145.86B | total debt + equity − cash and short-term investments, mean of this quarter end and the one a year earlier (Jul 27, 2025) |
| Return on invested capital NOPAT / average invested capital | 113.7% | NOPAT / average invested capital |
| Cost of debt, before tax interest / average total debt: the average coupon of the debt on the books, not today's market rate | 2.2% | interest / average total debt: the average coupon of the debt on the books, not today's market rate |
| Cost of debt, after tax cost of debt before tax × (1 − effective tax rate) | 1.9% | cost of debt before tax × (1 − effective tax rate) |
| Cost of equity risk-free rate + beta × equity risk premium | –needs market data | risk-free rate + beta × equity risk premium |
| Weighted average cost of capital cost of equity and after-tax cost of debt, weighted by market value | –needs market data | cost of equity and after-tax cost of debt, weighted by market value |
| Value creation spread ROIC − WACC | –needs market data | ROIC − WACC |
Assets $259.5B Liabilities $64.0B Equity $195.5B as of Apr 26, 2026
The numbers behind the diagram
| Item | Value | Share |
|---|---|---|
| Assets | $259.5B | 100% |
| Cash | $13.2B | 5% |
| Receivables | $40.7B | 16% |
| Inventory | $25.8B | 10% |
| Other current assets | $3.9B | 2% |
| Property & equipment | $12.4B | 5% |
| Lease right-of-use | $4.3B | 2% |
| Goodwill | $20.9B | 8% |
| Intangibles | $3.1B | 1% |
| Long-term investments | $30.2B | 12% |
| Deferred tax assets | $11.7B | 5% |
| Other assets | $93.2B | 36% |
| Liabilities | $64.0B | 25% |
| Payables | $13.1B | 5% |
| Accrued liabilities | $29.8B | 11% |
| Deferred revenue | $1.7B | 1% |
| Short-term debt | $1.0B | 0% |
| Other current liabilities | $2.2B | 1% |
| Long-term debt | $7.5B | 3% |
| Other liabilities | $8.8B | 3% |
| Equity | $195.5B | 75% |
| Stockholders' equity | $195.5B | 75% |
Money moved $52.81B Free cash flow $48.59B Jan 26 – Apr 26, 2026
The numbers behind the diagram
| Item | Value | Share |
|---|---|---|
| Where the money came from | $52.81B | 100% |
| Operating cash flow | $50.34B | 95% |
| Investments sold, net | $1.95B | 4% |
| Shares issued | $0.52B | 1% |
| Where it went | −$52.81B | 100% |
| Capital expenditure | −$1.76B | 3% |
| Acquisitions | −$0.09B | 0% |
| Other investing | −$26.53B | 50% |
| Share buybacks | −$21.44B | 41% |
| Dividends | −$0.24B | 0% |
| Other financing | −$0.11B | 0% |
| Added to cash | −$2.63B | 5% |
Total debt $8.5B Cash & short-term investments $13.2B Net cash $4.8B Operating cash flow, last 4 quarters $125.6B Interest expense, last 4 quarters $0.3B
The numbers behind the diagram
| Due | Item | Coupon | Value |
|---|---|---|---|
| 2026 | Notes | 3.2% | $1.0B |
| 2028 | Notes | 1.55% | $1.3B |
| 2030 | Notes | 2.85% | $1.5B |
| 2031 | Notes | 2% | $1.3B |
| 2040 | Notes | 3.5% | $1.0B |
| 2050 | Notes | 3.5% | $2.0B |
| 2060 | Notes | 3.7% | $0.5B |
Debt to equity 0.04× Net cash $4.77B Interest coverage 544.58× Return on invested capital 119.2% Cost of debt, after tax 3.0% Book values as of Apr 26, 2026.
The numbers behind the diagram
| Item | Value | How it is computed |
|---|---|---|
| Total debt short-term and long-term borrowings, as on the debt tab | $8.47B | short-term and long-term borrowings, as on the debt tab |
| Equity, book value stockholders' equity incl. minority interests, as on the balance sheet | $195.47B | stockholders' equity incl. minority interests, as on the balance sheet |
| Total capital total debt + equity | $203.94B | total debt + equity |
| Debt share total debt / total capital | 4% | total debt / total capital |
| Equity share equity / total capital | 96% | equity / total capital |
| Net cash total debt − cash and short-term investments | $4.77B | total debt − cash and short-term investments |
| EBIT, last 4 quarters operating income, four quarters summed | $162.29B | operating income, four quarters summed |
| Depreciation & amortisation, last 4 quarters from the cash flow statement, four quarters summed | $3.23B | from the cash flow statement, four quarters summed |
| EBITDA, last 4 quarters EBIT + depreciation & amortisation | $165.51B | EBIT + depreciation & amortisation |
| Interest expense, last 4 quarters four quarters summed | $0.30B | four quarters summed |
| Debt to equity total debt / equity | 0.04× | total debt / equity |
| Net debt to EBITDA net debt / EBITDA | –net cash $4.77B | net debt / EBITDA |
| Interest coverage EBIT / interest expense | 544.58× | EBIT / interest expense |
| Effective tax rate income tax / pretax income, kept within 0 to 50% | 15.8% | income tax / pretax income, kept within 0 to 50% |
| NOPAT, last 4 quarters EBIT × (1 − effective tax rate) | $136.73B | EBIT × (1 − effective tax rate) |
| Invested capital, average total debt + equity − cash and short-term investments, mean of this quarter end and the one a year earlier (Apr 27, 2025) | $114.66B | total debt + equity − cash and short-term investments, mean of this quarter end and the one a year earlier (Apr 27, 2025) |
| Return on invested capital NOPAT / average invested capital | 119.2% | NOPAT / average invested capital |
| Cost of debt, before tax interest / average total debt: the average coupon of the debt on the books, not today's market rate | 3.5% | interest / average total debt: the average coupon of the debt on the books, not today's market rate |
| Cost of debt, after tax cost of debt before tax × (1 − effective tax rate) | 3.0% | cost of debt before tax × (1 − effective tax rate) |
| Cost of equity risk-free rate + beta × equity risk premium | –needs market data | risk-free rate + beta × equity risk premium |
| Weighted average cost of capital cost of equity and after-tax cost of debt, weighted by market value | –needs market data | cost of equity and after-tax cost of debt, weighted by market value |
| Value creation spread ROIC − WACC | –needs market data | ROIC − WACC |
Assets $206.80B Liabilities $49.51B Equity $157.29B as of Jan 25, 2026
The numbers behind the diagram
| Item | Value | Share |
|---|---|---|
| Assets | $206.80B | 100% |
| Cash | $10.61B | 5% |
| Receivables | $38.47B | 19% |
| Inventory | $21.40B | 10% |
| Other current assets | $3.18B | 2% |
| Property & equipment | $10.38B | 5% |
| Lease right-of-use | $2.87B | 1% |
| Goodwill | $20.83B | 10% |
| Intangibles | $3.31B | 2% |
| Long-term investments | $12.89B | 6% |
| Deferred tax assets | $13.26B | 6% |
| Other assets | $69.62B | 34% |
| Liabilities | $49.51B | 24% |
| Payables | $9.81B | 5% |
| Accrued liabilities | $21.35B | 10% |
| Deferred revenue | $1.38B | 1% |
| Short-term debt | $1.00B | 0% |
| Other current liabilities | $1.37B | 1% |
| Long-term debt | $7.47B | 4% |
| Other liabilities | $7.31B | 4% |
| Equity | $157.29B | 76% |
| Stockholders' equity | $157.29B | 76% |
Money moved $37.07B Free cash flow $34.90B Oct 27, 2025 – Jan 25, 2026 Quarter derived from year-to-date statements.
The numbers behind the diagram
| Item | Value | Share |
|---|---|---|
| Where the money came from | $37.07B | 100% |
| Operating cash flow | $36.19B | 98% |
| Shares issued | $<0.01B | 0% |
| Taken from cash | $0.88B | 2% |
| Where it went | −$37.07B | 100% |
| Capital expenditure | −$1.28B | 3% |
| Acquisitions | −$0.17B | 0% |
| Investments bought, net | −$18.29B | 49% |
| Other investing | −$11.12B | 30% |
| Share buybacks | −$5.95B | 16% |
| Dividends | −$0.24B | 1% |
| Other financing | −$0.01B | 0% |
Total debt $8.5B Cash & short-term investments $10.6B Net cash $2.1B Operating cash flow, last 4 quarters $102.7B Interest expense, last 4 quarters $0.3B
The numbers behind the diagram
| Due | Item | Coupon | Value |
|---|---|---|---|
| 2026 | Notes | 3.2% | $1.0B |
| 2028 | Notes | 1.55% | $1.3B |
| 2030 | Notes | 2.85% | $1.5B |
| 2031 | Notes | 2% | $1.3B |
| 2040 | Notes | 3.5% | $1.0B |
| 2050 | Notes | 3.5% | $2.0B |
| 2060 | Notes | 3.7% | $0.5B |
Debt to equity 0.05× Net cash $2.14B Interest coverage 503.42× Return on invested capital 110.8% Cost of debt, after tax 2.6% Book values as of Jan 25, 2026.
The numbers behind the diagram
| Item | Value | How it is computed |
|---|---|---|
| Total debt short-term and long-term borrowings, as on the debt tab | $8.47B | short-term and long-term borrowings, as on the debt tab |
| Equity, book value stockholders' equity incl. minority interests, as on the balance sheet | $157.29B | stockholders' equity incl. minority interests, as on the balance sheet |
| Total capital total debt + equity | $165.76B | total debt + equity |
| Debt share total debt / total capital | 5% | total debt / total capital |
| Equity share equity / total capital | 95% | equity / total capital |
| Net cash total debt − cash and short-term investments | $2.14B | total debt − cash and short-term investments |
| EBIT, last 4 quarters operating income, four quarters summed | $130.39B | operating income, four quarters summed |
| Depreciation & amortisation, last 4 quarters from the cash flow statement, four quarters summed | $2.84B | from the cash flow statement, four quarters summed |
| EBITDA, last 4 quarters EBIT + depreciation & amortisation | $133.23B | EBIT + depreciation & amortisation |
| Interest expense, last 4 quarters four quarters summed | $0.26B | four quarters summed |
| Debt to equity total debt / equity | 0.05× | total debt / equity |
| Net debt to EBITDA net debt / EBITDA | –net cash $2.14B | net debt / EBITDA |
| Interest coverage EBIT / interest expense | 503.42× | EBIT / interest expense |
| Effective tax rate income tax / pretax income, kept within 0 to 50% | 15.1% | income tax / pretax income, kept within 0 to 50% |
| NOPAT, last 4 quarters EBIT × (1 − effective tax rate) | $110.67B | EBIT × (1 − effective tax rate) |
| Invested capital, average total debt + equity − cash and short-term investments, mean of this quarter end and the one a year earlier (Jan 26, 2025) | $99.87B | total debt + equity − cash and short-term investments, mean of this quarter end and the one a year earlier (Jan 26, 2025) |
| Return on invested capital NOPAT / average invested capital | 110.8% | NOPAT / average invested capital |
| Cost of debt, before tax interest / average total debt: the average coupon of the debt on the books, not today's market rate | 3.1% | interest / average total debt: the average coupon of the debt on the books, not today's market rate |
| Cost of debt, after tax cost of debt before tax × (1 − effective tax rate) | 2.6% | cost of debt before tax × (1 − effective tax rate) |
| Cost of equity risk-free rate + beta × equity risk premium | –needs market data | risk-free rate + beta × equity risk premium |
| Weighted average cost of capital cost of equity and after-tax cost of debt, weighted by market value | –needs market data | cost of equity and after-tax cost of debt, weighted by market value |
| Value creation spread ROIC − WACC | –needs market data | ROIC − WACC |
Assets $161.1B Liabilities $42.3B Equity $118.9B as of Oct 26, 2025 Read with the coarse template.
The numbers behind the diagram
| Item | Value | Share |
|---|---|---|
| Assets | $161.1B | 100% |
| Cash | $11.5B | 7% |
| Other current assets | $105.0B | 65% |
| Property & equipment | $9.8B | 6% |
| Goodwill | $6.3B | 4% |
| Intangibles | $0.9B | 1% |
| Other assets | $27.7B | 17% |
| Liabilities | $42.3B | 26% |
| Short-term debt | $1.0B | 1% |
| Other current liabilities | $25.1B | 16% |
| Long-term debt | $7.5B | 5% |
| Other liabilities | $8.7B | 5% |
| Equity | $118.9B | 74% |
| Stockholders' equity | $118.9B | 74% |
Money moved $24.18B Free cash flow $22.12B Jul 28 – Oct 26, 2025 Quarter derived from year-to-date statements.
The numbers behind the diagram
| Item | Value | Share |
|---|---|---|
| Where the money came from | $24.18B | 100% |
| Operating cash flow | $23.75B | 98% |
| Shares issued | $0.27B | 1% |
| Taken from cash | $0.15B | 1% |
| Where it went | −$24.18B | 100% |
| Capital expenditure | −$1.64B | 7% |
| Acquisitions | −$0.69B | 3% |
| Investments bought, net | −$3.24B | 13% |
| Other investing | −$3.46B | 14% |
| Share buybacks | −$14.89B | 62% |
| Dividends | −$0.24B | 1% |
| Other financing | −$0.02B | 0% |
Total debt $8.5B Cash & short-term investments $60.6B Net cash $52.1B Operating cash flow, last 4 quarters $83.2B Interest expense, last 4 quarters $0.2B
The numbers behind the diagram
| Due | Item | Coupon | Value |
|---|---|---|---|
| 2026 | Notes | 3.2% | $1.0B |
| 2028 | Notes | 1.55% | $1.3B |
| 2030 | Notes | 2.85% | $1.5B |
| 2031 | Notes | 2% | $1.3B |
| 2040 | Notes | 3.5% | $1.0B |
| 2050 | Notes | 3.5% | $2.0B |
| 2060 | Notes | 3.7% | $0.5B |
Debt to equity 0.07× Net cash $52.14B Interest coverage 445.84× Return on invested capital 183.1% Cost of debt, after tax 2.5% Book values as of Oct 26, 2025.
The numbers behind the diagram
| Item | Value | How it is computed |
|---|---|---|
| Total debt short-term and long-term borrowings, as on the debt tab | $8.47B | short-term and long-term borrowings, as on the debt tab |
| Equity, book value stockholders' equity incl. minority interests, as on the balance sheet | $118.90B | stockholders' equity incl. minority interests, as on the balance sheet |
| Total capital total debt + equity | $127.36B | total debt + equity |
| Debt share total debt / total capital | 7% | total debt / total capital |
| Equity share equity / total capital | 93% | equity / total capital |
| Net cash total debt − cash and short-term investments | $52.14B | total debt − cash and short-term investments |
| EBIT, last 4 quarters operating income, four quarters summed | $110.12B | operating income, four quarters summed |
| Depreciation & amortisation, last 4 quarters from the cash flow statement, four quarters summed | $2.57B | from the cash flow statement, four quarters summed |
| EBITDA, last 4 quarters EBIT + depreciation & amortisation | $112.70B | EBIT + depreciation & amortisation |
| Interest expense, last 4 quarters four quarters summed | $0.25B | four quarters summed |
| Debt to equity total debt / equity | 0.07× | total debt / equity |
| Net debt to EBITDA net debt / EBITDA | –net cash $52.14B | net debt / EBITDA |
| Interest coverage EBIT / interest expense | 445.84× | EBIT / interest expense |
| Effective tax rate income tax / pretax income, kept within 0 to 50% | 14.7% | income tax / pretax income, kept within 0 to 50% |
| NOPAT, last 4 quarters EBIT × (1 − effective tax rate) | $93.96B | EBIT × (1 − effective tax rate) |
| Invested capital, average total debt + equity − cash and short-term investments, mean of this quarter end and the one a year earlier (Oct 27, 2024) | $51.32B | total debt + equity − cash and short-term investments, mean of this quarter end and the one a year earlier (Oct 27, 2024) |
| Return on invested capital NOPAT / average invested capital | 183.1% | NOPAT / average invested capital |
| Cost of debt, before tax interest / average total debt: the average coupon of the debt on the books, not today's market rate | 2.9% | interest / average total debt: the average coupon of the debt on the books, not today's market rate |
| Cost of debt, after tax cost of debt before tax × (1 − effective tax rate) | 2.5% | cost of debt before tax × (1 − effective tax rate) |
| Cost of equity risk-free rate + beta × equity risk premium | –needs market data | risk-free rate + beta × equity risk premium |
| Weighted average cost of capital cost of equity and after-tax cost of debt, weighted by market value | –needs market data | cost of equity and after-tax cost of debt, weighted by market value |
| Value creation spread ROIC − WACC | –needs market data | ROIC − WACC |
Assets $140.7B Liabilities $40.6B Equity $100.1B as of Jul 27, 2025 Read with the coarse template.
The numbers behind the diagram
| Item | Value | Share |
|---|---|---|
| Assets | $140.7B | 100% |
| Cash | $11.6B | 8% |
| Other current assets | $90.6B | 64% |
| Property & equipment | $9.1B | 6% |
| Goodwill | $5.8B | 4% |
| Intangibles | $0.8B | 1% |
| Other assets | $22.9B | 16% |
| Liabilities | $40.6B | 29% |
| Other current liabilities | $24.3B | 17% |
| Long-term debt | $8.5B | 6% |
| Other liabilities | $7.9B | 6% |
| Equity | $100.1B | 71% |
| Stockholders' equity | $100.1B | 71% |
Money moved $18.96B Free cash flow $13.47B Apr 28 – Jul 27, 2025 Quarter derived from year-to-date statements.
The numbers behind the diagram
| Item | Value | Share |
|---|---|---|
| Where the money came from | $18.96B | 100% |
| Operating cash flow | $15.37B | 81% |
| Taken from cash | $3.60B | 19% |
| Where it went | −$18.96B | 100% |
| Capital expenditure | −$1.90B | 10% |
| Acquisitions | −$0.29B | 2% |
| Investments bought, net | −$4.43B | 23% |
| Other investing | −$0.51B | 3% |
| Share buybacks | −$11.57B | 61% |
| Dividends | −$0.24B | 1% |
| Other financing | −$0.02B | 0% |
Total debt $8.5B Cash & short-term investments $56.8B Net cash $48.3B Operating cash flow, last 4 quarters $77.0B Interest expense, last 4 quarters $0.2B
The numbers behind the diagram
| Due | Item | Coupon | Value |
|---|---|---|---|
| 2026 | Notes | 3.2% | $1.0B |
| 2028 | Notes | 1.55% | $1.3B |
| 2030 | Notes | 2.85% | $1.5B |
| 2031 | Notes | 2% | $1.3B |
| 2040 | Notes | 3.5% | $1.0B |
| 2050 | Notes | 3.5% | $2.0B |
| 2060 | Notes | 3.7% | $0.5B |
Debt to equity 0.08× Net cash $48.33B Interest coverage 390.16× Return on invested capital 197.5% Cost of debt, after tax 2.5% Book values as of Jul 27, 2025.
The numbers behind the diagram
| Item | Value | How it is computed |
|---|---|---|
| Total debt short-term and long-term borrowings, as on the debt tab | $8.47B | short-term and long-term borrowings, as on the debt tab |
| Equity, book value stockholders' equity incl. minority interests, as on the balance sheet | $100.13B | stockholders' equity incl. minority interests, as on the balance sheet |
| Total capital total debt + equity | $108.60B | total debt + equity |
| Debt share total debt / total capital | 8% | total debt / total capital |
| Equity share equity / total capital | 92% | equity / total capital |
| Net cash total debt − cash and short-term investments | $48.33B | total debt − cash and short-term investments |
| EBIT, last 4 quarters operating income, four quarters summed | $95.98B | operating income, four quarters summed |
| Depreciation & amortisation, last 4 quarters from the cash flow statement, four quarters summed | $2.30B | from the cash flow statement, four quarters summed |
| EBITDA, last 4 quarters EBIT + depreciation & amortisation | $98.28B | EBIT + depreciation & amortisation |
| Interest expense, last 4 quarters four quarters summed | $0.25B | four quarters summed |
| Debt to equity total debt / equity | 0.08× | total debt / equity |
| Net debt to EBITDA net debt / EBITDA | –net cash $48.33B | net debt / EBITDA |
| Interest coverage EBIT / interest expense | 390.16× | EBIT / interest expense |
| Effective tax rate income tax / pretax income, kept within 0 to 50% | 14.0% | income tax / pretax income, kept within 0 to 50% |
| NOPAT, last 4 quarters EBIT × (1 − effective tax rate) | $82.58B | EBIT × (1 − effective tax rate) |
| Invested capital, average total debt + equity − cash and short-term investments, mean of this quarter end and the one a year earlier (Jul 28, 2024) | $41.81B | total debt + equity − cash and short-term investments, mean of this quarter end and the one a year earlier (Jul 28, 2024) |
| Return on invested capital NOPAT / average invested capital | 197.5% | NOPAT / average invested capital |
| Cost of debt, before tax interest / average total debt: the average coupon of the debt on the books, not today's market rate | 2.9% | interest / average total debt: the average coupon of the debt on the books, not today's market rate |
| Cost of debt, after tax cost of debt before tax × (1 − effective tax rate) | 2.5% | cost of debt before tax × (1 − effective tax rate) |
| Cost of equity risk-free rate + beta × equity risk premium | –needs market data | risk-free rate + beta × equity risk premium |
| Weighted average cost of capital cost of equity and after-tax cost of debt, weighted by market value | –needs market data | cost of equity and after-tax cost of debt, weighted by market value |
| Value creation spread ROIC − WACC | –needs market data | ROIC − WACC |
Quarter by quarter
Every set of results we hold, newest first. Open one on its own page. The arrow beside a quarter shows it in the diagram above.
| Quarter | Period | Reported | Revenue | Year over year | Operating margin | Net profit | Net margin |
|---|---|---|---|---|---|---|---|
| Q2 FY27 Apr 27 – Jul 26, 2026 reported Aug 26, 2026 Operating margin 66% Net profit $59.7B | Apr 27 – Jul 26, 2026 | Aug 26, 2026 | $96.2B | +106% | 66% | $59.7B | 62% |
| Q1 FY27 Jan 26 – Apr 26, 2026 reported May 20, 2026 Operating margin 66% Net profit $58.3B | Jan 26 – Apr 26, 2026 | May 20, 2026 | $81.6B | +85% | 66% | $58.3B | 71% |
| Q4 FY26 Oct 27, 2025 – Jan 25, 2026 reported Feb 25, 2026 Operating margin 65% Net profit $43.0B | Oct 27, 2025 – Jan 25, 2026 | Feb 25, 2026 | $68.1B | +73% | 65% | $43.0B | 63% |
| Q3 FY26 Jul 28 – Oct 26, 2025 reported Nov 19, 2025 Operating margin 63% Net profit $31.9B | Jul 28 – Oct 26, 2025 | Nov 19, 2025 | $57.0B | +62% | 63% | $31.9B | 56% |
| Q2 FY26 Apr 28 – Jul 27, 2025 reported Aug 27, 2025 Operating margin 61% Net profit $26.4B | Apr 28 – Jul 27, 2025 | Aug 27, 2025 | $46.7B | +56% | 61% | $26.4B | 57% |
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