Nvidia(US:NVDA) Great Wall Securities·2024-02-27 16:00Investment Rating - The report maintains a "Buy" rating for the company, expecting a stock price increase of over 15% relative to the industry index in the next six months [12][26]. Core Insights - The company achieved record high performance in FY24, with revenue reaching $60.92 billion, a year-over-year increase of 125.85%, and net profit attributable to shareholders of $29.76 billion, up 581.32% year-over-year [2][3]. - The data center segment showed strong growth, with revenue of $18.40 billion in Q4 FY24, a year-over-year increase of 408.96%, driven by demand from major cloud service providers [3][4]. - The company is actively expanding its presence in emerging sectors such as the industrial metaverse and electric vehicles, with significant partnerships in the automotive industry [4]. Financial Performance Summary - For FY2023, the company reported revenue of $26.97 billion and net profit of $4.37 billion. Projections for FY2024 estimate revenue of $60.92 billion and net profit of $29.76 billion [2][12]. - The company expects Q1 FY2025 revenue to be around $24 billion, with a gross margin of 76.3% [4]. - The projected net profit for FY2025, FY2026, and FY2027 is $59.61 billion, $85.74 billion, and $107.70 billion, respectively, indicating a strong growth trajectory [12]. Key Financial Metrics - The company's return on equity (ROE) is projected to be 69.24% in FY2024, with a significant increase in earnings per share (EPS) from $1.75 in FY2023 to $11.90 in FY2024 [2][12]. - The price-to-earnings (P/E) ratio is expected to decrease from 386.17 in FY2023 to 56.68 in FY2024, reflecting improved profitability [2][12].