The company maintains a fortress balance sheet with a debt-to-equity ratio of only 0.07 and total assets that have surged to $259.5B as of 2027Q1.
| Metric | TTM | Jan'26 | Jan'25 | Jan'24 | Jan'23 | Jan'22 | Jan'21 | Jan'20 | Jan'19 | Jan'18 | Jan'17 | Jan'16 | Jan'15 | Jan'14 | Jan'13 | Jan'12 | Jan'11 | Jan'10 | Jan'09 | Jan'08 | Jan'07 | Jan'06 | Jan'05 | Jan'04 | Jan'03 | Jan'02 | Jan'01 | Jan'00 | Jan'99 |
|---|
| Total Current Assets | 151B | 125.61B | 80.13B | 44.34B | 23.07B | 28.83B | 16.05B | 13.69B | 10.56B | 9.26B | 8.54B | 6.05B | 5.71B | 5.62B | 4.78B | 3.91B | 3.23B | 2.48B | 2.17B | 2.89B | 2.03B | 1.55B | 1.3B | 1.05B | 1.35B | 1.23B | 930.88M | 173.18M | 101.1M |
| Cash & Short-Term Investments | 80.57B | 62.56B | 43.21B | 25.98B | 13.3B | 21.21B | 11.56B | 10.9B | 7.42B | 7.11B | 6.8B | 5.04B | 4.62B | 4.67B | 3.73B | 3.13B | 2.49B | 1.73B | 1.26B | 1.81B | 1.12B | 950.17M | 670.04M | 604.04M | 1.03B | 791.38M | 674.27M | 61.56M | 50.3M |
| Cash Only | 13.24B | 10.61B | 8.59B | 7.28B | 3.39B | 1.99B | 847M | 10.9B | 782M | 4B | 1.77B | 596M | 497M | 1.15B | 732.79M | 667.88M | 665.36M | 447.22M | 417.69M | 726.97M | 544.41M | 551.76M | 208.51M | 214.42M | 346.99M | 333M | 674.27M | 61.56M | 50.3M |
| Short-Term Investments | 67.33B | 51.95B | 34.62B | 18.7B | 9.91B | 19.22B | 10.71B | 1M | 6.64B | 3.11B | 5.03B | 4.44B | 4.13B | 3.52B | 3B | 2.46B | 1.83B | 1.28B | 837.7M | 1.08B | 573.44M | 398.42M | 461.53M | 389.62M | 681.42M | 458.38M | 0 | 0 | 0 |
| Accounts Receivable | 40.71B | 38.47B | 23.07B | 10B | 3.83B | 4.65B | 2.43B | 1.66B | 1.42B | 1.26B | 826M | 505M | 474M | 426.36M | 454.25M | 336.14M | 348.77M | 374.96M | 318.44M | 666.49M | 518.68M | 318.19M | 296.28M | 196.63M | 154.5M | 147.35M | 104.99M | 67.22M | 20.6M |
| Days Sales Outstanding | 50.53 | 65.02 | 64.51 | 59.91 | 51.79 | 63.06 | 53.17 | 55.4 | 44.36 | 47.53 | 43.63 | 36.79 | 36.95 | 37.68 | 38.74 | 30.69 | 35.93 | 41.14 | 33.94 | 59.37 | 61.69 | 48.89 | 53.8 | 39.37 | 29.53 | 39.27 | 52.12 | 65.52 | 47.53 |
| Inventory | 25.8B | 21.4B | 10.08B | 5.28B | 5.16B | 2.6B | 1.83B | 979M | 1.57B | 796M | 794M | 418M | 483M | 387.76M | 412.47M | 340.3M | 345.52M | 330.67M | 537.83M | 358.52M | 354.68M | 254.87M | 315.52M | 234.24M | 145.05M | 213.88M | 90.38M | 37.63M | 28.6M |
| Days Inventory Outstanding | 114.09 | 125.04 | 112.72 | 115.99 | 162.08 | 100.73 | 106.15 | 86.1 | 126.49 | 74.65 | 101.79 | 69.38 | 84.64 | 76.01 | 73.3 | 63.98 | 59.09 | 56.15 | 87.23 | 58.72 | 73.21 | 63.47 | 84.53 | 66.07 | 39.7 | 91.82 | 71.34 | 59.04 | 101.15 |
| Other Current Assets | 3.92B | 3.18B | 3.77B | 3.08B | 791M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 63M | 68.49M | 103.74M | 69.4M | 21.45M | 8.75M | 16.5M | 11.27M | 9.42M | 2.68M | 3.27M | 3.26M | 0 | 7M | 52.89M | 6.76M | 1.6M |
| Total Non-Current Assets | 108.48B | 81.2B | 31.48B | 21.38B | 18.11B | 15.36B | 12.74B | 3.63B | 2.73B | 1.99B | 1.3B | 1.32B | 1.49B | 1.63B | 1.64B | 1.65B | 1.27B | 1.11B | 1.18B | 858.84M | 643.49M | 404.39M | 323.61M | 346.63M | 265.41M | 269.06M | 86.02M | 29.07M | 12.2M |
| Property, Plant & Equipment | 12.4B | 13.25B | 8.08B | 5.26B | 4.84B | 3.61B | 2.86B | 2.29B | 1.4B | 997M | 521M | 466M | 557M | 582.74M | 576.14M | 560.07M | 568.86M | 571.86M | 625.8M | 359.81M | 260.83M | 178.15M | 178.96M | 190.03M | 135.15M | 120.13M | 47.28M | 25.89M | 11.7M |
| Fixed Asset Turnover | 20.72x | 16.30x | 16.16x | 11.58x | 5.57x | 7.46x | 5.84x | 4.76x | 8.34x | 9.74x | 13.26x | 10.75x | 8.41x | 7.09x | 7.43x | 7.14x | 6.23x | 5.82x | 5.47x | 11.39x | 11.77x | 13.34x | 11.23x | 9.59x | 14.13x | 11.40x | 15.55x | 14.47x | 13.52x |
| Goodwill | 20.89B | 20.83B | 5.19B | 4.43B | 4.37B | 4.35B | 4.19B | 618M | 618M | 618M | 618M | 618M | 618M | 643.18M | 641.03M | 641.03M | 369.84M | 369.84M | 369.84M | 354.06M | 301.43M | 145.32M | 0 | 0 | 0 | 81.12M | 23.8M | 0 | 0 |
| Intangible Assets | 3.12B | 3.31B | 807M | 1.11B | 1.68B | 2.34B | 2.74B | 49M | 45M | 52M | 104M | 166M | 222M | 296.01M | 312.33M | 326.14M | 288.75M | 120.46M | 147.1M | 106.93M | 45.51M | 15.42M | 135.62M | 148.87M | 76.47M | 0 | 0 | 0 | 0 |
| Long-Term Investments | 77.6B | 22.25B | 3.39B | 1.32B | 299M | 266M | 144M | 77M | 0 | 0 | 0 | 0 | 0 | 0 | 10.03M | 10.38M | 8.79M | 6.63M | 6.41M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 16.99B | 8.3B | 3.04B | 3.18B | 3.52B | 3.58B | 2B | 41M | 108M | 74M | 62M | 67M | 91M | 104.25M | 93.92M | 102.49M | 31.21M | 36.3M | 33.61M | 38.05M | 28.35M | 27.48M | 9.03M | 7.73M | 10.47M | 11.9M | 10.91M | 3.19M | 500K |
| Total Assets | 259.47B | 206.8B | 111.6B | 65.73B | 41.18B | 44.19B | 28.79B | 17.32B | 13.29B | 11.24B | 9.84B | 7.37B | 7.2B | 7.25B | 6.41B | 5.55B | 4.5B | 3.59B | 3.35B | 3.75B | 2.68B | 1.95B | 1.63B | 1.4B | 1.62B | 1.5B | 1.02B | 202.25M | 113.3M |
| Asset Turnover | 1.32x | 1.04x | 1.17x | 0.93x | 0.65x | 0.61x | 0.58x | 0.63x | 0.88x | 0.86x | 0.70x | 0.68x | 0.65x | 0.57x | 0.67x | 0.72x | 0.79x | 0.93x | 1.02x | 1.09x | 1.15x | 1.22x | 1.23x | 1.30x | 1.18x | 0.91x | 0.72x | 1.85x | 1.40x |
| Asset Growth % | 325.44% | 85.31% | 69.79% | 59.6% | -6.8% | 53.47% | 66.28% | 30.27% | 18.25% | 14.23% | 33.53% | 2.35% | -0.69% | 13.08% | 15.47% | 23.53% | 25.36% | 7.02% | -10.59% | 40.09% | 36.86% | 20.03% | 16.38% | -13.46% | 7.57% | 47.82% | 402.79% | 78.51% | - |
| Total Current Liabilities | 43.88B | 32.16B | 18.05B | 10.63B | 6.56B | 4.33B | 3.92B | 1.78B | 1.33B | 1.15B | 1.82B | 2.44B | 896M | 945.5M | 976.22M | 929.96M | 942.68M | 784.38M | 778.59M | 967.16M | 638.81M | 438.66M | 421.16M | 334.11M | 379.45M | 433.49M | 309.42M | 76.22M | 47.1M |
| Accounts Payable | 13.1B | 9.81B | 6.31B | 2.7B | 1.19B | 1.78B | 1.15B | 687M | 511M | 596M | 485M | 296M | 293M | 324.39M | 356.43M | 335.07M | 286.14M | 344.53M | 218.86M | 492.1M | 272.07M | 179.4M | 238.22M | 185.34M | 141.13M | 214.02M | 72.3M | 64.91M | 35.7M |
| Days Payables Outstanding | 56.52 | 57.33 | 70.56 | 59.27 | 37.48 | 68.95 | 66.79 | 60.42 | 41.04 | 55.89 | 62.18 | 49.13 | 51.34 | 63.59 | 63.34 | 63 | 48.94 | 58.5 | 35.5 | 80.6 | 56.16 | 44.68 | 63.82 | 52.28 | 38.63 | 91.88 | 57.07 | 101.83 | 126.26 |
| Short-Term Debt | 1B | 999M | 0 | 1.25B | 1.25B | 0 | 999M | 0 | 0 | 15M | 827M | 1.5B | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 856K | 4.01M | 5.68M | 3.9M | 588K | 1.79M | 6.4M |
| Deferred Revenue (Current) | 5.32B | 1.38B | 837M | 764M | 354M | 300M | 288M | 141M | 92M | 53M | 85M | 322M | 296M | 268.81M | 282.69M | 270.65M | 245.6M | 19.62M | 15.42M | 5.86M | 1.18M | 217K | 11.5M | 0 | 0 | 70.19M | 200M | 0 | 0 |
| Other Current Liabilities | 0 | 7.69B | 1.6B | 614M | 177M | 371M | 389M | 29M | 61M | 36M | 211M | 171M | 164M | 185.96M | 26.07M | 35.44M | 24.8M | 30.18M | 40.83M | 0 | 0 | 0 | 0 | 0 | 4.18M | 4.18M | 4.29M | 9.53M | 5M |
| Current Ratio | 3.44x | 3.91x | 4.44x | 4.17x | 3.52x | 6.65x | 4.09x | 7.67x | 7.94x | 8.03x | 4.69x | 2.48x | 6.38x | 5.95x | 4.89x | 4.20x | 3.42x | 3.16x | 2.78x | 2.99x | 3.18x | 3.53x | 3.10x | 3.15x | 3.56x | 2.85x | 3.01x | 2.27x | 2.15x |
| Quick Ratio | 2.85x | 3.24x | 3.88x | 3.67x | 2.73x | 6.05x | 3.63x | 7.13x | 6.76x | 7.34x | 4.26x | 2.31x | 5.84x | 5.54x | 4.47x | 3.83x | 3.06x | 2.74x | 2.09x | 2.62x | 2.63x | 2.95x | 2.35x | 2.45x | 3.18x | 2.35x | 2.72x | 1.78x | 1.54x |
| Cash Conversion Cycle | 108.1 | 132.74 | 106.67 | 116.63 | 176.38 | 94.85 | 92.52 | 81.08 | 129.81 | 66.29 | 83.25 | 57.04 | 70.25 | 50.1 | 48.7 | 31.67 | 46.08 | 38.79 | 85.67 | 37.49 | 78.74 | 67.68 | 74.51 | 53.16 | 30.61 | 39.21 | 66.39 | 22.72 | 22.42 |
| Total Non-Current Liabilities | 20.12B | 17.35B | 14.23B | 12.12B | 12.52B | 13.24B | 7.97B | 3.33B | 2.62B | 2.62B | 2.26B | 463M | 1.89B | 1.85B | 608.32M | 477.25M | 371.1M | 136.4M | 177.48M | 162.6M | 29.54M | 20.04M | 29.11M | 14.05M | 304.88M | 305.86M | 300.38M | 1.46M | 2M |
| Long-Term Debt | 7.47B | 7.47B | 8.46B | 8.46B | 9.7B | 10.95B | 5.96B | 1.99B | 1.99B | 1.99B | 1.98B | 0 | 1.38B | 1.36B | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 300M | 300M | 300M | 1.46M | 2M |
| Capital Lease Obligations | 10.29B | 2.57B | 1.52B | 1.12B | 902M | 741M | 634M | 561M | 0 | 0 | 6M | 10M | 14M | 17.5M | 19M | 21.44M | 23.39M | 24.45M | 25.63M | 0 | 0 | 0 | 0 | 856K | 4.88M | 5.86M | 378K | 0 | 0 |
| Deferred Tax Liabilities | 6.54B | 1.77B | 886M | 462M | 247M | 245M | 241M | 29M | 19M | 18M | 141M | 301M | 232M | 157.95M | 192.95M | 133.29M | 46.13M | 17.74M | 75.25M | 86.9M | 0 | 8.26M | 20.75M | 8.61M | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 5.57B | 4.34B | 2.38B | 1.51B | 1.45B | 1.11B | 971M | 686M | 568M | 599M | 126M | 108M | 149M | 144.97M | 160.22M | 122.15M | 138.58M | 94.21M | 76.6M | 75.7M | 29.54M | 11.78M | 8.36M | 4.58M | 0 | 0 | 0 | 0 | 0 |
| Total Liabilities | 64B | 49.51B | 32.27B | 22.75B | 19.08B | 17.57B | 11.9B | 5.11B | 3.95B | 3.77B | 4.08B | 2.9B | 2.78B | 2.79B | 1.58B | 1.41B | 1.31B | 920.78M | 956.08M | 1.13B | 668.34M | 458.69M | 450.27M | 348.16M | 684.33M | 739.36M | 609.79M | 77.69M | 49.1M |
| Total Debt | 12.81B | 11.41B | 10.27B | 11.06B | 12.03B | 11.83B | 7.72B | 2.64B | 1.99B | 2B | 2.82B | 1.51B | 1.4B | 1.37B | 19M | 21.44M | 23.39M | 24.45M | 25.63M | 0 | 0 | 0 | 856K | 4.87M | 310.56M | 309.76M | 300.97M | 3.25M | 8.4M |
| Net Debt | -423M | 807M | 1.68B | 3.78B | 8.64B | 9.84B | 6.87B | -8.25B | 1.21B | -2B | 1.05B | 914M | 901M | 222.29M | -713.79M | -646.44M | -641.97M | -422.77M | -392.05M | -726.97M | -544.41M | -551.76M | -207.66M | -209.55M | -36.44M | -23.24M | -373.31M | -58.31M | -41.9M |
| Debt / Equity | 0.07x | 0.07x | 0.13x | 0.26x | 0.54x | 0.44x | 0.46x | 0.22x | 0.21x | 0.27x | 0.49x | 0.34x | 0.32x | 0.31x | 0.00x | 0.01x | 0.01x | 0.01x | 0.01x | - | - | - | 0.00x | 0.00x | 0.33x | 0.41x | 0.74x | 0.03x | 0.13x |
| Debt / EBITDA | 0.08x | 0.09x | 0.12x | 0.32x | 2.09x | 1.05x | 1.37x | 0.82x | 0.49x | 0.59x | 1.33x | 1.60x | 1.43x | 1.87x | 0.02x | 0.03x | 0.05x | 0.25x | 0.22x | - | - | - | 0.00x | 0.03x | 1.54x | 1.09x | 2.09x | 0.05x | 0.76x |
| Net Debt / EBITDA | -0.00x | 0.01x | 0.02x | 0.11x | 1.50x | 0.88x | 1.22x | -2.56x | 0.30x | -0.59x | 0.50x | 0.97x | 0.92x | 0.30x | -0.82x | -0.76x | -1.45x | -4.33x | -3.43x | -0.75x | -0.97x | -1.27x | -1.05x | -1.21x | -0.18x | -0.08x | -2.59x | -0.85x | -3.81x |
| Interest Coverage | 636.02x | 547.14x | 341.19x | 132.59x | 16.96x | 43.12x | 24.96x | 58.12x | 68.17x | 53.39x | 33.84x | 16.81x | 17.41x | 52.00x | 201.98x | 215.76x | 87.72x | -23.79x | -104.80x | - | - | - | - | - | - | - | - | - | - |
| Total Equity | 195.47B | 157.29B | 79.33B | 42.98B | 22.1B | 26.61B | 16.89B | 12.2B | 9.34B | 7.47B | 5.76B | 4.47B | 4.42B | 4.46B | 4.83B | 4.15B | 3.18B | 2.67B | 2.39B | 2.62B | 2.01B | 1.5B | 1.18B | 1.05B | 932.69M | 763.82M | 407.11M | 124.56M | 64.2M |
| Equity Growth % | 384.02% | 98.28% | 84.58% | 94.46% | -16.95% | 57.53% | 38.42% | 30.64% | 25.04% | 29.66% | 28.93% | 1.15% | -0.86% | -7.69% | 16.45% | 30.31% | 19.37% | 11.3% | -8.53% | 30.44% | 34.15% | 26.97% | 12.09% | 12.71% | 22.11% | 87.62% | 226.83% | 94.02% | - |
| Book Value per Share | 8.01 | 6.42 | 3.20 | 1.72 | 0.88 | 1.05 | 0.67 | 0.49 | 0.37 | 0.30 | 0.22 | 0.20 | 0.20 | 0.19 | 0.19 | 0.17 | 0.14 | 0.12 | 0.11 | 0.11 | 0.09 | 0.07 | 0.06 | 0.05 | 0.05 | 0.04 | 0.02 | 0.01 | 0.00 |
| Total Shareholders' Equity | 195.47B | 157.29B | 79.33B | 42.98B | 22.1B | 26.61B | 16.89B | 12.2B | 9.34B | 7.47B | 5.76B | 4.47B | 4.42B | 4.46B | 4.83B | 4.15B | 3.18B | 2.67B | 2.39B | 2.62B | 2.01B | 1.5B | 1.18B | 1.05B | 932.69M | 763.82M | 407.11M | 124.56M | 64.2M |
| Common Stock | 24M | 24M | 24M | 25M | 2M | 3M | 3M | 1M | 1M | 1M | 1M | 1M | 1M | 732K | 720K | 700K | 677K | 653K | 629K | 619K | 388K | 360K | 169K | 164K | 158K | 150K | 137K | 62K | 0 |
| Retained Earnings | 185.04B | 146.97B | 68.04B | 29.82B | 10.17B | 16.23B | 18.91B | 14.97B | 12.56B | 8.79B | 6.11B | 4.35B | 3.95B | 3.5B | 3.25B | 2.73B | 2.15B | 1.9B | 1.96B | 1.99B | 1.2B | 747.73M | 572.51M | 472.16M | 397.74M | 306.94M | 130.02M | 28.69M | -9.4M |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | -10.76B | -9.81B | -9.26B | -6.65B | -5.04B | -4.05B | -3.4B | -2.54B | -1.62B | -1.5B | -1.48B | -1.46B | -1.46B | -1.04B | -487.12M | -212.14M | -24.64M | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | 137M | 178M | 28M | 27M | -43M | -11M | 19M | 1M | -12M | -18M | -16M | -4M | 8M | 4.88M | 9.98M | 10.61M | 10.27M | 12.17M | 3.87M | 8.03M | 1.44M | -5.56M | -6.39M | -4.62M | 3.76M | 108K | -6K | -118K | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Supply Chain Concentration Risk
According to recent financial statements, NVDA's total assets surged to $259.5B in 2027Q1 from $65.7B in 2024Q4, reflecting a massive scaling of the balance sheet driven by explosive demand for AI infrastructure and the subsequent accumulation of high-value current assets and retained earnings.
The rapid expansion of the asset base suggests that the company is successfully converting its dominant market position into tangible balance sheet strength. Investors should monitor whether this growth trajectory remains sustainable as the company scales to meet global sovereign and hyperscaler demand.
Based on reported figures, NVDA maintains a negligible debt-to-equity ratio of 0.07% as of 2027Q1, indicating that the company has funded its massive operational expansion almost entirely through internal cash generation rather than relying on external credit markets or debt-based financing.
This ultra-conservative capital structure provides the company with significant flexibility to navigate potential industry cyclicality or supply chain disruptions. The lack of meaningful debt obligations suggests that the company is well-insulated from interest rate volatility, allowing management to prioritize aggressive R&D and shareholder returns.
As reported in quarterly filings, NVDA's current ratio stood at 3.44 in 2027Q1, demonstrating a substantial liquidity buffer that allows the company to comfortably cover its short-term obligations while managing the working capital requirements inherent in its large-scale, project-based data center business model.
The consistent maintenance of a high current ratio suggests that the company is prioritizing liquidity to manage the volatility of its supply chain and inventory commitments. This liquidity position appears to be a strategic choice, ensuring the firm can meet its foundry obligations even during periods of rapid demand shifts.
Based on the provided balance sheet data, retained earnings have grown to $185.0B in 2027Q1, serving as the primary engine for equity expansion and reflecting the company's ability to reinvest its massive operating profits back into the business to sustain its competitive moat.
The substantial accumulation of retained earnings underscores the high profitability of the company's fabless model. This trend suggests that the firm is effectively compounding its capital, which may provide a long-term cushion against potential future margin compression or competitive pressures.
As noted in recent financial statements, goodwill has increased to $20.9B in 2027Q1 from $4.4B in 2024Q4, which warrants further investigation into the nature of recent acquisitions and the potential for future impairment if the anticipated synergies from these strategic investments fail to materialize.
While the balance sheet remains strong, the rising goodwill balance suggests that the company is increasingly relying on inorganic growth to maintain its technological edge. Investors should monitor whether these intangible assets are being integrated effectively or if they represent a potential future write-down risk.
Quick answers to the most common questions about buying NVDA stock.
As of 2026, NVIDIA Corporation (NVDA) had total assets of $206.80B including $125.61B in current assets.
NVIDIA Corporation (NVDA) carries total debt of $11.41B, offset by $62.56B in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
NVIDIA Corporation (NVDA) has total shareholders' equity (book value) of $157.29B ($6.42 book value per share). Book value represents the net worth of the company belonging to common stock holders.
NVIDIA Corporation (NVDA) reported a current ratio of 3.91x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.