At a glance
NVIDIA Corporation is worth $4.87T, about 41 times its fiscal 2026 earnings. Revenue grew 65.5% to $215.94B in fiscal 2026, with 55.6% kept as profit; over 5 years it has grown 66.9% a year. It pays a 0.26% dividend yield, and returned $96.36B to shareholders in dividends and buybacks over FY2022–FY2026. The stock returned +0.0% over the past year with dividends reinvested and +50.4% a year over five years, against +11.5% and +11.7% for the S&P 500. At its worst it fell 37.6% in the 2020 crash (S&P 500: 33.7%) and 61.8% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 2 months and 7 months after the lows.
The business in plain English
NVIDIA designs graphics processing units, or GPUs. These chips have tens of thousands of small cores working in parallel, which suits them to training and running artificial intelligence (AI) models. Around them, NVIDIA sells processors, networking gear, rack-scale data center systems and software, including its CUDA software platform, which developers use to program NVIDIA GPUs. Customers include all the major cloud providers, AI model makers, businesses, startups and government bodies, plus gamers and professional designers.
NVIDIA reports two segments. In the fiscal year ended January 25, 2026, revenue was $215.9 billion. Compute & Networking, which covers data center and automotive products, brought in 89.6% of revenue. Graphics, which covers GeForce gaming GPUs and RTX workstation chips, brought in 10.4%. By product line, compute made up 75.2%, networking 14.5%, gaming 7.4%, professional visualization 1.5% and automotive 1.1%.
Beyond software bundled with its hardware, NVIDIA charges for licenses to NVIDIA AI Enterprise, a software suite for business AI, and to software for virtual desktops. By location, the United States accounted for 69.3% of revenue, Taiwan 19.6% and China, including Hong Kong, 9.1%. In its annual report filed February 25, 2026, NVIDIA said its next data center platform, Rubin, was expected to begin production shipments in the second half of fiscal year 2027.
Price history
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NVDA 0.0% over the year to Nov 2, 2026, total return with dividends reinvested.
How it makes money
By product or service
| Compute | $162.36B | 75.2% |
| Networking | $31.38B | 14.5% |
| Gaming | $16.04B | 7.4% |
| Professional Visualization | $3.19B | 1.5% |
| Automotive | $2.35B | 1.1% |
| OEM and Other | $619.0M | 0.3% |
By business segment
| Compute & Networking | $193.48B | 89.6% |
| Graphics | $22.46B | 10.4% |
By geography
| UNITED STATES | $149.62B | 69.3% |
| Taiwan | $42.34B | 19.6% |
| China (including Hong Kong) | $19.68B | 9.1% |
| Other | $4.30B | 2% |
Latest results
- In Q2 FY2027 (ended Jul 26, 2026), revenue was $96.22B, up 105.9% from a year earlier, and net income was $59.69B (+125.9%).
- For fiscal 2026, revenue was $215.94B (+65.5% year over year; +66.9% a year from FY2021 to FY2026) with a 55.6% net margin.
Financial health check
| Revenue growth a year (FY2021–FY2026) | +66.9% good |
|---|---|
| Operating margin | 60.4% good |
| Free cash flow margin | 44.8% good |
| Return on equity (FY2026) | 76.3% good |
| Return on assets (FY2026) | 58.1% good |
| Net cash (cash minus debt) | $23.22B good |
| Fiscal year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2021 | $16.68B | $4.33B | — |
| FY2022 | $26.91B | $9.75B | $8.13B |
| FY2023 | $26.97B | $4.37B | $3.81B |
| FY2024 | $60.92B | $29.76B | $27.02B |
| FY2025 | $130.50B | $72.88B | $60.85B |
| FY2026 | $215.94B | $120.07B | $96.68B |
Valuation snapshot
| Market value | $4.87T |
|---|---|
| P/E ratio | 41.2 |
| Dividend yield | 0.26% |
Rank among 1514 US companies
Market value at each year end
NVIDIA’s market value went from $57.59B at the end of 2016 to $4.87T on Nov 2, 2026, about 84.6 times as much; since the end of 2025 it is up 7%.
Show as a table
| Year end | Market value | Change |
|---|---|---|
| Nov 2, 2026 | $4.87T | +7.5% |
| 2025 | $4.53T | +37.8% |
| 2024 | $3.29T | +168.9% |
| 2023 | $1.22T | +240.2% |
| 2022 | $359.50B | -51.1% |
| 2021 | $735.27B | +127.5% |
| 2020 | $323.24B | +124.5% |
| 2019 | $144.00B | +76.8% |
| 2018 | $81.44B | -30.5% |
| 2017 | $117.19B | +103.5% |
| 2016 | $57.59B |
Price behavior
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | |
|---|---|---|---|---|---|
| NVDA price data to Nov 2, 2026 | +8.6% | 0.0% | +67.0% | +50.4% | +61.4% |
Show as a table
| Year | Price data |
|---|---|
| 2026 (to date) | +8.6% |
| 2025 | +38.9% |
| 2024 | +171.3% |
| 2023 | +239.0% |
| 2022 | -50.3% |
| 2021 | +125.5% |
| 2020 | +122.3% |
| 2019 | +77.0% |
| 2018 | -30.8% |
| 2017 | +82.0% |
| 2016 | +227.1% |
| 2015 | +67.2% |
| 2014 | +27.5% |
| 2013 | +33.7% |
| 2012 | -10.9% |
| 2011 | -10.0% |
| 2010 | -17.6% |
| 2009 | +131.5% |
| 2008 | -76.3% |
| 2007 | +37.9% |
| 2006 | +102.5% |
| 2005 | +55.1% |
| 2004 | +1.6% |
| 2003 | +101.6% |
| 2002 | -82.8% |
| 2001 | +308.4% |
| 2000 | +39.6% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Lost 77.5% over that stretch · deepest drop along the way 85.1%, back to its old high 88.8 months after the low |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Lost 32.4% over that stretch · deepest drop along the way 37.6%, back to its old high 1.8 months after the low |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 61.8% over that stretch · deepest drop along the way 61.8%, back to its old high 7.1 months after the low |
Insider activity
Form 4 filings from 2025-10-27 to 2026-10-27 (25 read): 0 open-market purchases and 25 sales ($967.6M), 9 of them under pre-arranged 10b5-1 trading plans.
| Date | Insider | Type | Value |
|---|---|---|---|
| Sep 18, 2026 | Mark A Stevens Director | sell | $297.9M |
| Aug 31, 2026 | Mark A Stevens Director | sell | $98.5M |
| Sep 2, 2026 | Mark A Stevens Director | sell | $67.9M |
| Sep 2, 2026 | Mark A Stevens Director | sell | $67.2M |
| Sep 2, 2026 | Mark A Stevens Director | sell | $66.9M |
Who owns it
Large shareholders (13G filings)
| Vanguard Capital Management | 7.31% | Mar 31, 2026 |
ETFs with the most weight in NVDA
| SHOC Strive U.S. Semiconductor ETF | 22.33% |
| SMHX VanEck Fabless Semiconductor ETF | 20.94% |
| SMH VanEck Semiconductor ETF | 20.43% |
| SEMI Columbia Select Technology ETF | 15.93% |
| DARP Grizzle Growth ETF | 15.55% |
| FDG American Century Focused Dynamic Growth ETF | 15.33% |
| VGT Vanguard Information Technology ETF | 14.93% |
| FTEC Fidelity MSCI Information Technology Index ETF | 14.72% |
What could go wrong
- Export limits and political action. NVIDIA faces complex laws and political actions, including limits on exporting its products. China, including Hong Kong, made up 9.1% of fiscal 2026 revenue, so tighter rules could hit sales.
- Reliance on a few large customers. A significant amount of revenue comes from a limited number of partners, distributors and customers. Losing any of them, or being barred from selling to them, could hurt revenue.
- Supply and demand can fall out of step. Manufacturing lead times are long and factory capacity is uncertain. If NVIDIA misjudges demand, it can end up with too little supply or too much inventory. Such mismatches have happened before.
- Outside companies make its chips. NVIDIA relies on third-party suppliers to manufacture, assemble, test and package its products. That limits its control over quantity, quality, delivery schedules and yields, the share of chips that come out usable.
- Fast-moving technology and strong competition. Technology, customer needs and industry standards change quickly. NVIDIA must keep launching better products and secure access to enough energy to power data centers using them. Falling behind rivals could cost market share.
- Results and the share price can swing. Results have fluctuated before: net income fell from $9.8 billion in fiscal 2022 to $4.4 billion in fiscal 2023. Results below analysts' expectations could send the share price down.
Recent events
- Other company announcement
- Quarterly results released
- Major agreement signed; New debt or financial obligation; Investor presentation or announcement
- Executive or board change
- Shareholder vote results
- Other company announcement
- Quarterly results released
- Executive or board change
- Executive or board change
- Executive or board change
For income and retirement investors
NVIDIA's dividend is tiny. It paid $0.04 per share in the fiscal year ended January 25, 2026, adjusted for stock splits. That was about 0.8% of earnings and 1% of free cash flow, the cash left after running and investing in the business. The dividend held at $0.016 from fiscal 2021 through 2024, then rose in fiscal 2025 and 2026. The yield was 0.25% as of October 30, 2026, so income investors would depend on selling shares for meaningful cash. Share buybacks, where the company purchases its own stock, are far larger: $93.4 billion over fiscal 2022–2026, against $3.0 billion in dividends.
The shares have fallen sharply in downturns. They dropped 85.1% in the 2008 financial crisis and needed about 89 months to recover. They fell 37.6% in the 2020 COVID crash, recovering in under two months, and 61.8% in the 2022 bear market, recovering by May 2023. Single stocks carry more risk than diversified funds.
Questions investors ask
How does NVIDIA make money?
NVIDIA makes most of its money selling compute and networking products, mainly for data centers. In the fiscal year ended January 25, 2026, compute made up 75.2% of its $215.9 billion in revenue and networking 14.5%. Gaming GPUs added 7.4%, professional visualization 1.5% and automotive 1.1%. Beyond software bundled with its hardware, it also charges for licenses to NVIDIA AI Enterprise, a suite of business AI software.
Does NVIDIA pay a dividend?
Yes, but it is small. NVIDIA paid $0.04 per share in the fiscal year ended January 25, 2026, adjusted for stock splits, and the yield was 0.25% as of October 30, 2026. The dividend stayed at $0.016 from fiscal 2021 through 2024, then rose in fiscal 2025 and 2026. It used about 1% of free cash flow. NVIDIA spends far more on share buybacks: $40.1 billion in fiscal 2026 alone.
How much of NVIDIA's revenue comes from China?
China, including Hong Kong, accounted for 9.1% of NVIDIA's revenue, or $19.7 billion, in the fiscal year ended January 25, 2026. The United States was the largest region at 69.3%, followed by Taiwan at 19.6%. NVIDIA's annual report lists export restrictions among its risk factors, warning that complex laws, regulations and political actions, including limits on exporting its products, may hurt its business.
What is NVIDIA's P/E ratio?
NVIDIA traded at about 41.8 times its fiscal 2026 earnings as of October 30, 2026, giving a market value of about $4.93 trillion. The price-to-earnings (P/E) ratio compares the share price with profit per share. A higher figure means investors are paying more for each dollar of earnings, often because they expect strong growth, which leaves less room for disappointment. Earnings per share were $4.90 in the fiscal year ended January 25, 2026, up from $2.94 a year earlier.
How has NVIDIA stock performed over the long term?
It has risen sharply over long periods, with deep drops along the way. Based on share price changes, the stock gained about 61.2% a year over 10 years and 51.7% a year over five years, as of October 30, 2026. Its one-year return was only 1.1%. It once fell 89.7% from a peak, lost 50.3% in calendar 2022 and dropped 20.2% from a high during the year to October 30, 2026.