Analysis of Debt
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- Balance Sheet: Assets
- Balance Sheet: Liabilities and Stockholders’ Equity
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Solvency Ratios
- Analysis of Long-term (Investment) Activity Ratios
- Analysis of Reportable Segments
- Analysis of Geographic Areas
- Enterprise Value to EBITDA (EV/EBITDA)
- Net Profit Margin since 2005
- Operating Profit Margin since 2005
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Total Debt (Carrying Amount)
NVIDIA Corp., balance sheet: debt
US$ in millions
| Jan 25, 2026 | Jan 26, 2025 | Jan 28, 2024 | Jan 29, 2023 | Jan 30, 2022 | Jan 31, 2021 | ||
|---|---|---|---|---|---|---|---|
| Short-term debt | |||||||
| Long-term debt | |||||||
| Total total debt (carrying amount) |
Based on: 10-K (reporting date: 2026-01-25), 10-K (reporting date: 2025-01-26), 10-K (reporting date: 2024-01-28), 10-K (reporting date: 2023-01-29), 10-K (reporting date: 2022-01-30), 10-K (reporting date: 2021-01-31).
The carrying amount of total debt exhibited a notable increase between January 31, 2021, and January 29, 2023, followed by a decline through January 26, 2026. A detailed examination of the components reveals the dynamics driving these changes.
- Overall Trend
- Total debt began at US$6,963 million in 2021, increased to US$10,946 million in 2022, peaked at US$10,953 million in 2023, and then decreased to US$9,709 million in 2024. This downward trend continued, reaching US$8,463 million in 2025 and stabilizing at US$8,468 million in 2026.
- Short-Term Debt
- Short-term debt was reported as US$999 million in 2021, was not reported in 2022, increased to US$1,250 million in 2023 and 2024, and then decreased to US$999 million in 2026. The absence of a value in 2022 warrants further investigation.
- Long-Term Debt
- Long-term debt constituted the majority of the total debt. It increased significantly from US$5,964 million in 2021 to US$10,946 million in 2022. Subsequently, it decreased to US$9,703 million in 2023, continued to decline to US$8,459 million in 2024, and remained relatively stable at US$8,463 million in 2025, before decreasing slightly to US$7,469 million in 2026. The decrease in long-term debt from 2022 through 2026 appears to be the primary driver of the overall reduction in total debt.
The fluctuations in both short-term and long-term debt contribute to the overall trend. The substantial increase in long-term debt in 2022 is a key observation, followed by a consistent reduction over the subsequent years. The return to the 2021 level of short-term debt in 2026 suggests a potential cyclical pattern or strategic adjustment in debt management.
Total Debt (Fair Value)
| Jan 25, 2026 | |
|---|---|
| Selected Financial Data (US$ in millions) | |
| Total total debt (fair value) | |
| Financial Ratio | |
| Debt, fair value to carrying amount ratio | |
Based on: 10-K (reporting date: 2026-01-25).
Weighted-average Interest Rate on Debt
Weighted-average effective interest rate on debt:
| Interest rate | Debt amount1 | Interest rate × Debt amount | Weighted-average interest rate2 |
|---|---|---|---|
| Total | |||
Based on: 10-K (reporting date: 2026-01-25).
1 US$ in millions
2 Weighted-average interest rate = 100 × ÷ =