NVIDIA (NVDA) FY2021 results: revenue $16.7 billion, up 52.7% on the year
NVIDIA Corp. (NVDA) reported revenue of $16.7 billion for fiscal 2021, the year ended 31 January 2021, up 52.7% on the year before. Net income was $4.3 billion, up 54.9%, and diluted earnings per share $0.17. The figures are the company's own, from the 10-K it filed with the SEC on 18 March 2022.
Revenue
$16.7 billion
+52.7% on the year
FY2014FY2021
Operating margin
27.2%
26.1% a year earlier
FY2014FY2021
Net income
$4.3 billion
+54.9% on the year
FY2014FY2021
Diluted EPS
$0.17
+52.7% on the year
FY2014FY2021
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2021
FY2020
FY2019
On the year
Last 8 years
Revenue
16,675
10,918
11,716
+52.7%
Cost of revenue
6,279
4,150
4,545
+51.3%
Gross profit
10,396
6,768
7,171
+53.6%
Gross margin
62.3%
62.0%
61.2%
Research and development
3,924
2,829
2,376
+38.7%
Selling, general and administrative
1,940
1,093
991
+77.5%
Operating income
4,532
2,846
3,804
+59.2%
Operating margin
27.2%
26.1%
32.5%
Interest expense
184
52.0
58.0
+253.8%
Pre-tax income
4,409
2,970
3,896
+48.5%
Income tax
77.0
174
-245
-55.7%
Effective tax rate
1.7%
5.9%
-6.3%
Net income
4,332
2,796
4,141
+54.9%
Net margin
26.0%
25.6%
35.3%
Diluted EPS
$0.17
$0.11
$0.17
+52.7%
$ 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
FY2021
FY2020
FY2019
On the year
Last 8 years
Operating cash flow
5,822
4,761
3,743
+22.3%
Cash from investing
-19,675
6,145
-4,097
Cash from financing
3,804
-792
-2,866
Depreciation and amortisation
1,098
381
262
+188.2%
Share-based compensation
1,397
844
557
+65.5%
Buybacks
0.0
0.0
1,579
Dividends paid
395
390
371
+1.3%
Dividend per share
$0.02
$0.02
$0.02
0.0%
Diluted shares, weighted
25,120m
24,720m
25,000m
+1.6%
Shares outstanding at period end
24,800m
24,480m
24,240m
+1.3%
Balance sheet
$ million
FY2021
FY2020
FY2019
On the year
Last 8 years
Shareholders' equity
16,893
12,204
9,342
+38.4%
Debt
6,963
1,991
1,988
+249.7%
Operating lease liabilities
634
561
0.0
+13.0%
Other liabilities
4,301
2,559
1,962
+68.1%
Total liabilities and equity
28,791
17,315
13,292
+66.3%
Fixed assets
2,149
1,674
1,404
+28.4%
Goodwill
4,193
618
618
+578.5%
Intangible assets
2,737
49.0
45.0
+5,485.7%
Investments
10,714
1.0
6,640
+1,071,300.0%
Cash and equivalents
847
10,896
782
-92.2%
Receivables
2,429
1,657
1,424
+46.6%
Inventory
1,826
979
1,575
+86.5%
Other assets
3,896
1,441
804
+170.4%
Total assets
28,791
17,315
13,292
+66.3%
10-K for the year ended 31 January 2021, filed 18 March 2022: the filing.