NVIDIA Past Earnings Performance
Past criteria checks 4/6
NVIDIA has been growing earnings at an average annual rate of 60.9%, while the Semiconductor industry saw earnings growing at 5.8% annually. Revenues have been growing at an average rate of 50.7% per year. NVIDIA's return on equity is 76.3%, and it has net margins of 55.6%.
Key information
60.94%
Earnings growth rate
61.23%
EPS growth rate
| Semiconductor Industry Growth | 27.66% |
| Revenue growth rate | 50.73% |
| Return on equity | 76.33% |
| Net Margin | 55.60% |
| Next Earnings Update | 20 May 2026 |
Recent past performance updates
Recent updates
NVDA: AI Backlog Visibility And Export Controls Will Shape Future Leadership
Analysts lifted the price target for Nvidia shares by $3 to reflect slightly higher fair value estimates, modestly lower discount rates, and updated expectations for revenue growth, profit margins, and future P/E after a wave of upbeat research that points to sustained AI demand and broadening partnerships around the company’s platform. Analyst Commentary Recent research coverage around Nvidia highlights a wide range of opinions, with many firms updating models after the latest earnings, GTC announcements, and management commentary on long term AI demand.
Sustainable Dominance: Justifying a $270 Fair Value
Catalysts The Rubin Supercycle : The successful shipment of Vera Rubin systems in late 2026—offering up to 10x better performance per watt —ensures that competitors cannot erode market share. This keeps hardware demand "off the charts".Nvidia: The $31 Billion Footnote Nobody's Talking About
Apr 27
NVIDIA Is the Best Business in America. That Doesn't Mean You Should Buy It.
NVIDIA closed fiscal 2026 with $96.6 billion in free cash flow, $54.1 billion of net cash on the balance sheet, and 71% gross margins. The crowd is looking for the right moment to sell.
NVDA: Trillion Dollar AI Backlog Will Extend Data Center Supercycle
Narrative Update Nvidia's updated analyst price target edges higher by about $0.40 to roughly $268.61, as analysts factor in slightly stronger revenue growth expectations, modestly lower discount rates, and a still-elevated future P/E near 29x despite a small trim to projected profit margins. Analyst Commentary Recent Street research around Nvidia clusters around confidence in the AI data center story, with a wide range of firms updating models and price targets after earnings and the GTC conference.
NVIDIA – Launch of Open-Source “Ising” Quantum AI Models to Accelerate Scalable Quantum Computing
Author: Qudus Adebara (Founder of Wane Investment House) NVIDIA has unveiled the world’s first open-source family of quantum AI models, NVIDIA Ising , marking a major step toward making quantum computing practical, scalable, and commercially viable. The Ising model suite is designed to address two of the most critical bottlenecks in quantum computing— processor calibration and quantum error correction —using advanced AI techniques to enhance performance, reliability, and scalability of quantum systems.
NVIDIA will see a profit margin surge of 55% in the next 5 years
1. The Undisputed King of AI Infrastructure NVIDIA’s dominance in the AI chip market is not merely a transient trend but a structural, long-term leadership position.NVDA: Trillion Dollar AI Backlog Will Sustain Multi-Year Infrastructure Supercycle
Analysts have nudged NVIDIA's fair value estimate slightly lower to $268.22 while keeping revenue growth and margin assumptions effectively unchanged. They cite a series of higher price targets and upbeat GTC takeaways as support for a still robust AI demand outlook and a modestly lower future P/E of about 28.9x.NVDA: Trillion Dollar AI Backlog Will Support Multi-Year Infrastructure Supercycle
The analyst fair value estimate for Nvidia has been raised from $253.02 to $269.23. Analysts cite higher modeled revenue growth, continued AI data center demand, and expanding use cases beyond data centers as key factors supporting a lower future P/E assumption and the higher price target.NVIDIA: Durable Infrastructure in AI Leadership, but Nigh-Perfect Precision is Required
I am still fervently steadfast in the stance that NVDA is the undisputed anchor and future driver of the global AI shift. While it is an 'obvious' megacap investment, my personal analysis depict its transition into a full stack 'AI foundry' with a widened moat that the market presently fails to price in.NVDA: AI Data Center Visibility And China Controls Will Shape Leadership
Our analyst price target for Nvidia edges higher from $173.50 to $181.39 as analysts highlight the company's AI data center leadership, a reacceleration in data center revenue, and extended visibility into 2027. At the same time, we modestly adjust revenue growth and P/E assumptions alongside a slightly higher discount rate.The NVIDIA Phenomenon
We've all by now seen how NVIDIA has experienced one of the most dramatic runs in modern market history over the past few years, but why is that the case? To begin with, its worth stating that NVIDIA didn’t just “get lucky”, it was uniquely positioned when generative AI took off back in 2022–2023.NVIDIA leads the AI charge in 2026 with record revenues and a 75% rise
NVIDIA (NVDA) – Q4 FY2026 Risk Analysis, Outlook, and Forecast I. Executive Summary NVIDIA reported exceptional Q4 FY2026 results , with record revenue and profitability , driven by unparalleled demand for AI compute infrastructure, especially in data center products.
Steam engines 2.0: The world will find a way to meet insatiable demand for GPU’s
In the early 1990s three engineers met in a Denny’s diner in San Jose (the same Denny’s where Jensen previously worked as a dishwasher). Video games were exploding in popularity and complexity.NVDA: AI Backlog And China Policy Constraints Will Shape Future Leadership
Our updated analyst price target for Nvidia edges higher to $173.50 from $172.23 as analysts point to expectations for solid upcoming quarters, a sizable AI-related backlog, and potential catalysts such as Blackwell-driven deployments, CoreWeave related demand, and the GPU Technology Conference. Analyst Commentary Recent research on Nvidia continues to center on AI data center demand, backlog visibility, and upcoming product cycles such as Blackwell.
NVDA: AI Infrastructure Demand And Partnerships Will Sustain Market Leadership
Analysts nudged their fair value estimate for Nvidia higher from US$326.00 to about US$334.78, as they factor in expectations for stronger profit margins, a higher future P/E and recent research that highlights Nvidia's AI leadership, data center demand and supportive partner deals such as the CoreWeave agreement. Analyst Commentary Recent Street research around Nvidia has been broadly constructive, with many bullish analysts adjusting their models after company updates, product news and partner commentary.NVDA: AI Infrastructure Demand And China Policy Tensions Will Shape Future Leadership
Analysts have nudged their Nvidia fair value estimate higher to reflect slightly faster modeled revenue growth and a modestly lower future P/E assumption, with recent price target increases, new coverage initiations, and commentary around Blackwell and Rubin demand all contributing to the updated view. Analyst Commentary Recent Street research around Nvidia has been dominated by upbeat takes on AI accelerators, data center build outs, and long term demand signals for the Blackwell and Rubin product cycles.NVDA: AI Infrastructure Order Visibility And China Constraints Will Shape Future Leadership
Analysts trimmed our Nvidia fair value estimate slightly to $171.51 from $175.08, even as they raised revenue growth assumptions and referenced a series of higher Street price targets tied to continued AI data center momentum, Blackwell and Rubin order visibility, and expectations that Nvidia remains a central supplier in large hyperscale and OpenAI related buildouts. Analyst Commentary The recent wave of research on Nvidia has centered on its role in AI data centers, the scale of Blackwell and Rubin demand, and how these themes filter through to earnings expectations and valuations.NVDA: AI Infrastructure Supercycle Will Drive Multi-Year Data Center Leadership
Analysts nudged their fair value estimate for Nvidia modestly higher to approximately $253 per share from about $250 per share, citing a wave of post earnings price target hikes that highlight the company's entrenched AI data center leadership and strong multi year demand visibility, despite emerging competition from custom accelerators and TPUs. Analyst Commentary Bullish analysts largely interpret the recent wave of estimate and price target increases as confirmation that Nvidia remains the primary beneficiary of the ongoing AI infrastructure buildout, with multi year visibility supported by a deep order book for Blackwell and Rubin platforms and expanding hyperscaler and sovereign AI commitments. At the same time, there is growing acknowledgment that alternative accelerators, custom ASICs, and TPUs are beginning to carve out share in certain workloads, introducing a more competitive backdrop that could constrain upside to current expectations if Nvidia fails to maintain its performance and ecosystem advantages.NVDA: AI Data Center Demand May Sustain Leadership Amid Rising Geopolitical And Competition Risks
Analysts modestly lift their fair value estimate for Nvidia to about $175 per share from roughly $152, citing a sustained build out of AI data center infrastructure, stronger long term revenue growth expectations, and premium AI leadership, partially offset by rising competitive and execution risks. Analyst Commentary Street research remains broadly constructive on Nvidia, with most firms highlighting the company as the central beneficiary of a multi year AI infrastructure build.NVDA: Massive AI Infrastructure Demand Will Drive Multi-Year Data Center Acceleration
Nvidia’s analyst price target has increased to approximately $250. This reflects analysts’ confidence in sustained AI leadership and strengthened revenue growth, as indicated by recent industry commentary and channel checks.NVDA: Data Center Demand Will Accelerate Market Leadership Amid Competitive Shifts
NVIDIA's analyst fair value estimate has been raised sharply from approximately $262 to $326 per share. This change reflects analysts' increased confidence in the company's AI leadership, robust revenue growth outlook, and sustained data center demand.
The AI Infrastructure Giant Grows Into Its Valuation
NVIDIA's latest quarterly earnings report, released this week, showcases a company that has successfully navigated one of the most challenging questions in modern tech investing: How do you justify a multi-trillion dollar valuation in an era of AI hype? The answer, it turns out, lies in execution.
Another strong financial results
1. Latest Financial Results Numbers at a glance: • For the quarter ended Oct 26 2025 (Q3 FY26), NVIDIA reported revenue of US$57.0 billion, up ~22% quarter-on-quarter and ~62% year-on-year.NVDA: Surging AI Demand Will Drive Record Data Center Deals Through 2026
NVIDIA's analyst fair value target has increased from $225.50 to $232.79. Analysts point to upward revisions driven by accelerating AI chip demand, increased revenue growth expectations, and strong early signals from Blackwell and Rubin product ramps.NVDA: Expanding AI Demand Will Drive Major Data Center Investments Through 2026
Nvidia's analyst price target has been raised from approximately $218.51 to $225.50. Analysts cite stronger revenue growth expectations and improved profit margins based on increased visibility into future AI infrastructure demand.The company that went from selling GPUs to gamers to becoming the AI arms dealer of the 21st century.
NVIDIA’s Next Chapter: How Strategic Deals Are Powering a 10% Jump in Fair Value 1. Key Recent Deals & Strategic Moves Here are several major arrangements NVIDIA has recently announced, and why they matter.Advancements In AI Will Drive Future Data Center Demand
NVIDIA's analyst price target has been raised by approximately $4.53 to $218.51. Analysts cite accelerating AI infrastructure demand, sustained leadership in data center solutions, and confidence in earnings power as key drivers for the higher valuation.
Unshakable AI Leadership Meets Overextended Valuations and Emerging Bubble Dynamics
jaikhom made no meaningful changes to valuation assumptions.Legendary or Back to the Normal?
NVIDIA (NVDA) has been elevated to almost mythical status in the era of large language models (LLMs). The company’s GPUs powered the AI training boom, and its stock reflected the market’s belief that this dominance would persist indefinitely.Revenue & Expenses Breakdown
Revenue & Expenses Breakdown
How NVIDIA makes and spends money. Based on latest reported earnings, on an LTM basis.
Earnings and Revenue History
| Date | Revenue | Earnings | G+A Expenses | R&D Expenses |
|---|---|---|---|---|
| 25 Jan 26 | 215,938 | 120,067 | 4,579 | 18,497 |
| 26 Oct 25 | 187,142 | 99,198 | 4,272 | 16,699 |
| 27 Jul 25 | 165,218 | 86,597 | 4,036 | 15,384 |
| 27 Apr 25 | 148,515 | 76,774 | 3,755 | 14,183 |
| 26 Jan 25 | 130,497 | 72,880 | 3,491 | 12,914 |
| 27 Oct 24 | 113,269 | 63,074 | 3,228 | 11,665 |
| 28 Jul 24 | 96,307 | 53,008 | 3,019 | 10,569 |
| 28 Apr 24 | 79,774 | 42,598 | 2,798 | 9,520 |
| 28 Jan 24 | 60,922 | 29,760 | 2,654 | 8,675 |
| 29 Oct 23 | 44,870 | 18,889 | 2,567 | 8,162 |
| 30 Jul 23 | 32,681 | 10,326 | 2,510 | 7,812 |
| 30 Apr 23 | 25,878 | 4,793 | 2,481 | 7,596 |
| 29 Jan 23 | 26,974 | 4,368 | 2,440 | 7,339 |
| 30 Oct 22 | 28,566 | 5,957 | 2,378 | 6,853 |
| 31 Jul 22 | 29,738 | 7,741 | 2,303 | 6,313 |
| 01 May 22 | 29,541 | 9,458 | 2,238 | 5,733 |
| 30 Jan 22 | 26,914 | 9,752 | 2,166 | 5,268 |
| 31 Oct 21 | 24,274 | 8,206 | 2,078 | 4,948 |
| 01 Aug 21 | 21,897 | 7,078 | 2,038 | 4,590 |
| 02 May 21 | 19,256 | 5,327 | 2,139 | 4,342 |
| 31 Jan 21 | 16,675 | 4,332 | 1,912 | 3,924 |
| 25 Oct 20 | 14,777 | 3,826 | 1,724 | 3,516 |
| 26 Jul 20 | 13,065 | 3,388 | 1,484 | 3,182 |
| 26 Apr 20 | 11,778 | 3,319 | 1,122 | 2,890 |
| 26 Jan 20 | 10,918 | 2,796 | 1,093 | 2,829 |
| 27 Oct 19 | 10,018 | 2,411 | 1,072 | 2,738 |
| 28 Jul 19 | 10,185 | 2,743 | 1,053 | 2,631 |
| 28 Apr 19 | 10,729 | 3,291 | 1,024 | 2,508 |
| 27 Jan 19 | 11,716 | 4,141 | 991 | 2,376 |
| 28 Oct 18 | 12,422 | 4,694 | 946 | 2,236 |
| 29 Jul 18 | 11,877 | 4,301 | 899 | 2,094 |
| 29 Apr 18 | 10,984 | 3,784 | 861 | 1,928 |
| 28 Jan 18 | 9,714 | 3,047 | 815 | 1,797 |
| 29 Oct 17 | 8,976 | 2,582 | 770 | 1,684 |
| 30 Jul 17 | 8,344 | 2,288 | 730 | 1,593 |
| 30 Apr 17 | 7,542 | 1,965 | 689 | 1,528 |
| 29 Jan 17 | 6,910 | 1,666 | 663 | 1,463 |
| 30 Oct 16 | 6,138 | 1,220 | 578 | 1,413 |
| 31 Jul 16 | 5,439 | 923 | 559 | 1,370 |
| 01 May 16 | 5,164 | 688 | 553 | 1,338 |
| 31 Jan 16 | 5,010 | 614 | 602 | 1,331 |
| 25 Oct 15 | 4,860 | 600 | 560 | 1,336 |
| 26 Jul 15 | 4,780 | 526 | 532 | 1,346 |
Quality Earnings: NVDA has a high level of non-cash earnings.
Growing Profit Margin: NVDA's current net profit margins (55.6%) are lower than last year (55.8%).
Free Cash Flow vs Earnings Analysis
Past Earnings Growth Analysis
Earnings Trend: NVDA's earnings have grown significantly by 60.9% per year over the past 5 years.
Accelerating Growth: NVDA's earnings growth over the past year (65%) exceeds its 5-year average (60.9% per year).
Earnings vs Industry: NVDA earnings growth over the past year (65%) exceeded the Semiconductor industry 10.2%.
Return on Equity
High ROE: NVDA's Return on Equity (76.3%) is considered outstanding.
Return on Assets
Return on Capital Employed
Discover strong past performing companies
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2026/05/06 01:23 |
| End of Day Share Price | 2026/05/05 00:00 |
| Earnings | 2026/01/25 |
| Annual Earnings | 2026/01/25 |
Data Sources
The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.
| Package | Data | Timeframe | Example US Source * |
|---|---|---|---|
| Company Financials | 10 years |
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| Analyst Consensus Estimates | +3 years |
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| Market Prices | 30 years |
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| Ownership | 10 years |
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| Management | 10 years |
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| Key Developments | 10 years |
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* Example for US securities, for non-US equivalent regulatory forms and sources are used.
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.
Analysis Model and Snowflake
Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.
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Industry and Sector Metrics
Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.
Analyst Sources
NVIDIA Corporation is covered by 94 analysts. 54 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.
| Analyst | Institution |
|---|---|
| Qun Huang | ABCI Securities Company Limited |
| Stefan Chang | Aletheia Analyst Network Limited |
| James Fontanelli | Arete Research Services LLP |