NVIDIA (NVDA) FY2020 results: revenue $10.9 billion, down 6.8% on the year
NVIDIA Corp. (NVDA) reported revenue of $10.9 billion for fiscal 2020, the year ended 26 January 2020, down 6.8% on the year before. Net income was $2.8 billion, down 32.5%, and diluted earnings per share $0.11. The figures are the company's own, from the 10-K it filed with the SEC on 18 March 2022.
Revenue
$10.9 billion
-6.8% on the year
FY2013FY2020
Operating margin
26.1%
32.5% a year earlier
FY2013FY2020
Net income
$2.8 billion
-32.5% on the year
FY2013FY2020
Diluted EPS
$0.11
-31.8% on the year
FY2013FY2020
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Revenue
10,918
11,716
9,714
-6.8%
Cost of revenue
4,150
4,545
3,892
-8.7%
Gross profit
6,768
7,171
5,822
-5.6%
Gross margin
62.0%
61.2%
59.9%
Research and development
2,829
2,376
1,797
+19.1%
Selling, general and administrative
1,093
991
815
+10.3%
Operating income
2,846
3,804
3,210
-25.2%
Operating margin
26.1%
32.5%
33.0%
Interest expense
52.0
58.0
61.0
-10.3%
Pre-tax income
2,970
3,896
3,196
-23.8%
Income tax
174
-245
149
Effective tax rate
5.9%
-6.3%
4.7%
Net income
2,796
4,141
3,047
-32.5%
Net margin
25.6%
35.3%
31.4%
Diluted EPS
$0.11
$0.17
$0.12
-31.8%
$ 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
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
4,761
3,743
3,502
+27.2%
Cash from investing
6,145
-4,097
1,278
Cash from financing
-792
-2,866
-2,544
Depreciation and amortisation
381
262
199
+45.4%
Share-based compensation
844
557
391
+51.5%
Buybacks
0.0
1,579
909
Dividends paid
390
371
341
+5.1%
Dividend per share
$0.02
$0.02
$0.01
+5.3%
Diluted shares, weighted
24,720m
25,000m
25,280m
-1.1%
Shares outstanding at period end
24,480m
24,240m
24,240m
+1.0%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
12,204
9,342
7,471
+30.6%
Debt
1,991
1,988
2,000
+0.2%
Operating lease liabilities
561
0.0
n/a
Other liabilities
2,559
1,962
1,770
+30.4%
Total liabilities and equity
17,315
13,292
11,241
+30.3%
Fixed assets
1,674
1,404
997
+19.2%
Goodwill
618
618
618
0.0%
Intangible assets
49.0
45.0
52.0
+8.9%
Investments
1.0
6,640
3,106
-100.0%
Cash and equivalents
10,896
782
4,002
+1,293.4%
Receivables
1,657
1,424
1,265
+16.4%
Inventory
979
1,575
796
-37.8%
Other assets
1,441
804
405
+79.2%
Total assets
17,315
13,292
11,241
+30.3%
10-K for the year ended 26 January 2020, filed 18 March 2022: the filing.