Nvidia(US:NVDA)2025-02-26 21:48Revenue Performance - Revenue for fiscal year 2025 was $130.5 billion, up 114% from the previous year[254] - Revenue for fiscal year 2025 was $130.5 billion, a 114% increase from $60.9 billion in fiscal year 2024[275] - Revenue from Data Center computing grew 162%, primarily driven by demand for the Hopper computing platform[276] - Revenue from Compute & Networking segment reached $116.2 billion, a 145% increase from $47.4 billion in fiscal year 2024[275] - Gaming revenue rose by 9%, supported by sales of the GeForce RTX 40 Series GPUs[256] - Professional Visualization revenue grew by 21%, attributed to the ramp-up of Ada RTX GPU workstations[256] - Automotive revenue surged by 55%, driven by sales of self-driving platforms[256] Profitability and Margins - Gross margin improved to 75.0%, up 2.3 percentage points from the previous year, due to a higher mix of Data Center revenue[254] - Gross profit margin increased to 75.0% in fiscal year 2025 from 72.7% in fiscal year 2024, driven by a higher mix of Data Center revenue[284] - Operating income for fiscal year 2025 was $81.5 billion, up 147% from $48.5 billion in fiscal year 2024[276] Expenses and Investments - Operating expenses increased by 45% to $16.4 billion, primarily due to higher compensation and engineering development costs[257] - Research and development expenses rose to $12.9 billion in fiscal year 2025, a 49% increase from $8.7 billion in fiscal year 2024[286] - Capital expenditures increased to $3.4 billion in fiscal year 2025 from $1.1 billion in fiscal year 2024, with expectations for further increases in fiscal year 2026[309] - Total operating expenses decreased as a percentage of revenue to 12.6% in fiscal year 2025 from 18.6% in fiscal year 2024[286] Cash Flow and Liquidity - Net cash provided by operating activities increased to $64.1 billion in fiscal year 2025 from $28.1 billion in fiscal year 2024[296] - Cash, cash equivalents, and marketable securities totaled $43.2 billion as of January 26, 2025, up from $26.0 billion as of January 28, 2024[296] - As of January 26, 2025, the company had $43.2 billion in cash, cash equivalents, and marketable securities, ensuring sufficient liquidity for at least the next twelve months[299] Shareholder Returns - In fiscal year 2025, the company repurchased 310 million shares for $34.0 billion, with an additional authorization of up to $38.7 billion remaining[302] - The company paid cash dividends of $834 million to shareholders in fiscal year 2025[304] Tax and Financial Position - Income tax expense for fiscal year 2025 was $11.1 billion, compared to $4.1 billion in fiscal year 2024[291] - The company recorded unrecognized tax benefits of $2.2 billion at the end of fiscal year 2025, including interest and penalties of $251 million[310] Market and Economic Factors - The company faces challenges from U.S. government export controls affecting its competitive position and future results[250] - The company is expanding its Data Center product portfolio to include new solutions that do not require export licenses[247] Financial Instruments and Risks - A sensitivity analysis indicated that a 0.5% shift in the yield curve would result in a $238 million change in the fair value of the investment portfolio[314] - The company has $8.5 billion of senior notes outstanding, carrying no financial statement risk associated with changes in interest rates[315] - If the U.S. dollar strengthened by 10%, the impact on accumulated other comprehensive income related to foreign exchange contracts would have been $136 million lower as of January 26, 2025[318] - An adverse 10% foreign exchange rate change could have resulted in a $129 million negative impact on income before taxes as of January 26, 2025[319]