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NVIDIA (NVDA) Stock Analysis

TechnologySemiconductors & Related Devices

Q2 2027 · +106% revenue · +17.9% revenue
Beat the trendvs trailing 3-quarter avg
Revenue▲+32.2 ppvs trend
Net income▲+2.4 ppvs trend
Diluted EPS▼−12.8 ppvs trend
Free cash flow▲+15.5 ppvs trend

Outperformed in 3 of 4 metrics

How the cash was deployedQ2 2027
Operating cash flow$74.42B
$4.43B (6.0 %)
Share buybacks$39.04B (52.5 %)
Dividends paid$6.00B (8.1 %)
Returned to shareholders this quarter$45.04B▲ +87.2%
Last 8 quarters of revenueLatest quarter highlighted. Q4 reconstructed from the annual filing.
+106% +17.9%
35.08B
Q3 25
39.33B
Q4 25*
44.06B
Q1 26
46.74B
Q2 26
57.01B
Q3 26
68.13B
Q4 26*
81.61B
Q1 27
96.22B
Q2 27

* Q4 is reconstructed from the annual filing (FY − Q1 − Q2 − Q3), since the SEC does not require a Q4 10-Q.

RevenueSteady
$96.22B
▲+106% ▲+17.9%
26.04B
30.04B
35.08B
39.33B
44.06B
46.74B
57.01B
68.13B
81.61B
96.22B
Holding the same pace as the prior quarter.
Net incomeSlowing
$59.69B
▲+126% ▲+2.3%
14.88B
16.60B
19.31B
22.09B
18.77B
26.42B
31.91B
42.96B
58.32B
59.69B
Still moving the same direction, but at a smaller pace than the prior quarter.
Free cash flowSlowing
$69.99B
▲+76.5% ▲+44.0%
14.98B
28.49B
45.30B
−29.19B
26.19B
39.66B
61.77B
−37.07B
48.59B
69.99B
Still moving the same direction, but at a smaller pace than the prior quarter.
Diluted Slowing
$2.46
▲+128% ▲+2.9%
5.98
0.67
0.78
-4.49
0.76
1.08
1.30
1.76
2.39
2.46
Still moving the same direction, but at a smaller pace than the prior quarter.

Margins

Gross marginReversal
75.0 %
▲+2.6 pp ▲+0.0 pp
78.35
75.15
74.56
73.03
60.52
72.42
73.41
75.00
74.93
74.98
Direction flipped this quarter — watch for a one-off or a new trend.
Operating marginAccelerating
66.2 %
▲+5.4 pp ▲+0.6 pp
64.92
62.06
62.34
61.10
49.11
60.84
63.17
65.02
65.60
66.24
Moving faster than the prior quarter — the trend is picking up speed.
Net marginReversal
62.0 %
▲+5.5 pp ▼−9.4 pp
57.14
55.26
55.04
56.17
42.61
56.53
55.98
63.06
71.46
62.03
Direction flipped this quarter — watch for a one-off or a new trend.
Metric
Q2 2026Same quarter, prior year
Q1 2027Previous quarter
Q2 2027Latest quarter
YoYQoQ
Revenue$46.74B$81.61B$96.22B+106%+17.9%
Cost of revenue$12.89B$20.46B$24.08B+86.8%+17.7%
Gross profit$33.85B$61.16B$72.14B+113%+18.0%
Operating expenses$5.41B$7.62B$8.41B+55.3%+10.3%
Operating income$28.44B$53.54B$63.73B+124%+19.0%
Net income$26.42B$58.32B$59.69B+126%+2.3%
Diluted $1.08$2.39$2.46+128%+2.9%
Operating cash flow$42.78B$50.34B$74.42B+74.0%+47.8%
$3.12B$1.76B$4.43B+42.0%+152%
Free cash flow$39.66B$48.59B$69.99B+76.5%+44.0%
Gross margin72.4 %74.9 %75.0 %+2.6 pp+0.0 pp
Operating margin60.8 %65.6 %66.2 %+5.4 pp+0.6 pp
Net margin56.5 %71.5 %62.0 %+5.5 pp−9.4 pp