"Generative AI applications will help almost every industry do more faster." - Jensen Huang
— Jensen Huang
03Detailed Report
NVDA
NVIDIA Corporation
Period
Q4 2023
CurrencyUSD
Report TypeQuarterly Earnings
GeneratedMay 14, 2026
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Executive Summary
In Q4 2023, NVIDIA Corporation reported revenues of $6.05 billion, a slight sequential increase of 2% but a substantial decline of 21% year-over-year, largely impacted by a correction in channel inventory and macroeconomic uncertainties. Despite these challenges, NVIDIA’s data center segment continued to show resilience, with revenue reaching $3.62 billion, up 11% year-over-year. The company’s advancements in AI infrastructure, particularly with the launch of the H100 GPU, have generated significant interest and demand among hyperscale cloud providers. Management emphasized the ongoing relevance of AI technologies, bolstered by the rising adoption of generative AI applications across various sectors, suggesting a pivotal moment for NVIDIA as it leads in this transformative landscape.
Balance Sheet Health:
- Total Assets: $41.18 billion
- Total Liabilities: $19.08 billion
- Shareholders' Equity: $22.10 billion
Cash Flow Metrics:
- Free Cash Flow: $1.74 billion
- Net Cash Provided by Operating Activities: $2.25 billion
NVIDIA's effective tax rate was reported at -9.78%, reflecting tax benefits contributing to improved net income despite lower revenues. Management expressed optimism regarding revenue growth from AI and the introduction of new products this fiscal year.
Income Statement
Metric
Value
YoY Change
QoQ Change
Revenue
6.05B
-20.83%
2.02%
Gross Profit
3.83B
-23.32%
20.65%
Operating Income
1.26B
-57.71%
108.99%
Net Income
1.41B
-52.91%
107.94%
EPS
0.06
-95.25%
111.11%
Key Financial Ratios
Gross Profit Margin
Excellent
63.30%
Gross profit margin is exceptional, indicating strong pricing power and operational efficiency
Operating Profit Margin
Good
20.80%
Operating margin is healthy and competitive within industry standards
Net Profit Margin
Excellent
23.40%
Net profit margin is exceptional, indicating strong pricing power and operational efficiency
Return on Assets
Fair
3.43%
Return on assets is acceptable but below top-tier companies
Return on Equity
Fair
6.40%
Return on equity is acceptable but below top-tier companies
Current Ratio
Strong
3.52
Current ratio indicates excellent liquidity and financial flexibility
Debt to Equity
Moderate
0.54
Debt-to-equity indicates balanced capital structure with manageable debt
P/E Ratio
High Growth
83.47x
Very high P/E indicates aggressive growth expectations, higher risk
Price to Book
High Premium
21.36x
Very high premium suggests asset-light business model or lofty expectations
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