Stock Analysis on Net

NVIDIA Corp. (NASDAQ:NVDA)

$24.99

Common-Size Balance Sheet: Assets

NVIDIA Corp., common-size consolidated balance sheet: assets

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Jan 25, 2026 Jan 26, 2025 Jan 28, 2024 Jan 29, 2023 Jan 30, 2022 Jan 31, 2021
Cash and cash equivalents
Marketable securities
Accounts receivable, net
Inventories
Prepaid expenses and other current assets
Current assets
Property and equipment, net
Operating lease assets
Goodwill
Intangible assets, net
Deferred income tax assets
Non-marketable equity securities
Other assets
Long-term assets
Total assets

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 composition of assets has undergone significant shifts over the analyzed period. A notable trend is the fluctuation in the allocation between current and long-term assets, alongside evolving proportions within each category. Overall, the asset base demonstrates increasing volatility in its composition.

Liquidity and Current Assets
Current assets, as a percentage of total assets, initially increased from 55.76% in 2021 to a peak of 71.80% in 2025, before decreasing to 60.74% in 2026. This rise was primarily driven by increases in accounts receivable, net, and prepaid expenses and other current assets. Cash and cash equivalents experienced a substantial increase from 2.94% to 11.08% between 2021 and 2024, but then declined to 5.13% in 2026. Marketable securities demonstrated a more complex pattern, increasing initially, then decreasing, and showing another increase before a final decline. The proportion of inventories also fluctuated, peaking at 12.53% in 2023.
Long-Term Asset Allocation
Long-term assets represented a substantial portion of the asset base, fluctuating between 32.53% and 44.24% of total assets. Goodwill experienced a significant decrease from 14.56% in 2021 to 4.65% in 2025, followed by a rebound to 10.07% in 2026. Intangible assets, net, showed a consistent decline from 9.51% to 0.72% between 2021 and 2025, with a slight increase to 1.60% in 2026. Property and equipment, net, remained relatively stable, generally between 5.02% and 9.24%. A notable increase is observed in non-marketable equity securities, rising from 0.50% in 2021 to 10.76% in 2026.
Deferred Tax Assets
Deferred income tax assets increased significantly from 2.80% in 2021 to 9.84% in 2025, before decreasing to 6.41% in 2026. This suggests potential changes in the company’s tax position or utilization of tax loss carryforwards.
Operating Leases
The proportion of operating lease assets decreased steadily from 2.46% in 2021 to 1.39% in 2026, indicating a potential reduction in leased assets or changes in lease accounting practices.
Other Assets
Other assets decreased from 6.95% in 2021 to 2.72% in 2025, then increased slightly to 4.01% in 2026. This category requires further investigation to understand the underlying components and their impact on the overall asset structure.

The observed shifts in asset allocation suggest a dynamic investment strategy and potential changes in business operations. The increasing proportion of accounts receivable and non-marketable equity securities, coupled with the decreasing proportion of goodwill and intangible assets, warrants further investigation to assess the underlying drivers and potential implications for future performance.