NVIDIA (NVDA) FY2019 results: revenue $11.7 billion, up 20.6% on the year
NVIDIA Corp. (NVDA) reported revenue of $11.7 billion for fiscal 2019, the year ended 27 January 2019, up 20.6% on the year before. Net income was $4.1 billion, up 35.9%, and diluted earnings per share $0.17. The figures are the company's own, from the 10-K it filed with the SEC on 21 February 2019.
Revenue
$11.7 billion
+20.6% on the year
FY2012FY2019
Operating margin
32.5%
33.0% a year earlier
FY2012FY2019
Net income
$4.1 billion
+35.9% on the year
FY2012FY2019
Diluted EPS
$0.17
+37.6% on the year
FY2012FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
11,716
9,714
6,910
+20.6%
Cost of revenue
4,545
3,892
2,847
+16.8%
Gross profit
7,171
5,822
4,063
+23.2%
Gross margin
61.2%
59.9%
58.8%
Research and development
2,376
1,797
1,463
+32.2%
Selling, general and administrative
991
815
663
+21.6%
Operating income
3,804
3,210
1,934
+18.5%
Operating margin
32.5%
33.0%
28.0%
Interest expense
58.0
61.0
58.0
-4.9%
Pre-tax income
3,896
3,196
1,905
+21.9%
Income tax
-245
149
239
Effective tax rate
-6.3%
4.7%
12.5%
Net income
4,141
3,047
1,666
+35.9%
Net margin
35.3%
31.4%
24.1%
Diluted EPS
$0.17
$0.12
$0.06
+37.6%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
3,743
3,502
1,672
+6.9%
Cash from investing
-4,097
1,278
-793
Cash from financing
-2,866
-2,544
291
Depreciation and amortisation
262
199
187
+31.7%
Share-based compensation
557
391
247
+42.5%
Buybacks
1,579
909
739
+73.7%
Dividends paid
371
341
261
+8.8%
Dividend per share
$0.02
$0.01
$0.01
+7.0%
Diluted shares, weighted
25,000m
25,280m
25,960m
-1.1%
Shares outstanding at period end
24,240m
24,240m
23,400m
0.0%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
9,342
7,471
5,762
+25.0%
Debt
1,988
2,000
2,779
-0.6%
Operating lease liabilities
0.0
n/a
n/a
Other liabilities
1,962
1,770
1,300
+10.8%
Total liabilities and equity
13,292
11,241
9,841
+18.2%
Fixed assets
1,404
997
521
+40.8%
Goodwill
618
618
618
0.0%
Intangible assets
45.0
52.0
104
-13.5%
Investments
6,640
3,106
5,032
+113.8%
Cash and equivalents
782
4,002
1,766
-80.5%
Receivables
1,424
1,265
826
+12.6%
Inventory
1,575
796
794
+97.9%
Other assets
804
405
180
+98.5%
Total assets
13,292
11,241
9,841
+18.2%
10-K for the year ended 27 January 2019, filed 21 February 2019: the filing.