Stock Analysis on Net
Stock Analysis on Net

NVIDIA Corp. (NASDAQ:NVDA)

Common-Size Balance Sheet: Liabilities and Stockholders’ Equity 

NVIDIA Corp., common-size consolidated balance sheet: liabilities and stockholders’ equity

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Jan 25, 2026 Jan 26, 2025 Jan 28, 2024 Jan 29, 2023 Jan 30, 2022 Jan 31, 2021
Accounts payable 4.74 5.65 4.11 2.90 4.04 4.17
Customer program accruals 2.57 4.37 3.17 2.90 2.26 2.19
Accrued purchase consideration 1.90 0.01 0.00 0.00 0.00 0.00
Product warranty 1.36 1.16 0.47 0.20 0.10 0.08
Excess inventory purchase obligations 1.32 1.88 2.52 2.32 0.44 0.00
Taxes payable 1.29 0.79 0.45 1.13 0.30 0.00
Deferred revenue 0.67 0.75 1.16 0.86 0.68 1.00
Accrued payroll and related expenses 0.55 0.76 1.03 1.29 0.93 1.03
Other 0.66 0.80 1.38 1.30 1.06 1.69
Accrued and other current liabilities 10.32% 10.52% 10.17% 10.00% 5.78% 5.99%
Short-term debt 0.48 0.00 1.90 3.04 0.00 3.47
Current liabilities 15.55% 16.17% 16.17% 15.94% 9.81% 13.63%
Long-term debt 3.61 7.58 12.87 23.56 24.77 20.71
Long-term operating lease liabilities 1.24 1.36 1.70 2.19 1.68 2.20
Income tax payable 1.91 1.96 2.07 2.92 2.22 2.90
Deferred income tax 0.86 0.79 0.70 0.60 0.55 0.84
Deferred revenue 0.58 0.87 0.87 0.53 0.46 0.57
Other 0.18 0.17 0.22 0.59 0.29 0.47
Other long-term liabilities 3.53% 3.80% 3.87% 4.65% 3.51% 4.78%
Long-term liabilities 8.39% 12.75% 18.44% 30.40% 29.96% 27.69%
Total liabilities 23.94% 28.92% 34.61% 46.33% 39.77% 41.33%
Preferred stock, $.001 par value; none issued 0.00 0.00 0.00 0.00 0.00 0.00
Common stock, $.001 par value 0.01 0.02 0.00 0.00 0.01 0.00
Additional paid-in capital 4.89 10.07 19.98 29.07 23.50 30.29
Treasury stock, at cost 0.00 0.00 0.00 0.00 0.00 -37.36
Accumulated other comprehensive income (loss) 0.09 0.03 0.04 -0.10 -0.02 0.07
Retained earnings 71.07 60.97 45.36 24.70 36.74 65.67
Shareholders’ equity 76.06% 71.08% 65.39% 53.67% 60.23% 58.67%
Total liabilities and shareholders’ equity 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%

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 liabilities and stockholders’ equity has undergone significant shifts between January 2021 and January 2026. A notable trend is the decreasing proportion of total liabilities relative to total liabilities and shareholders’ equity, while the proportion of shareholders’ equity has increased over the same period.

Current Liabilities
Current liabilities as a percentage of the total initially stood at 13.63% in January 2021, decreased to a low of 9.81% in January 2022, and then increased to 16.17% by January 2024. They subsequently decreased to 15.55% in January 2026. Within current liabilities, accrued and other current liabilities consistently represent the largest component, fluctuating between 5.78% and 10.52% of the total. Accounts payable decreased from 4.17% to 2.90% before rising again to 5.65% in January 2025, and then decreasing to 4.74% in January 2026. Short-term debt decreased substantially from 3.47% to 0.48% over the period.
Long-Term Liabilities
Long-term liabilities exhibited a decrease from 27.69% in January 2021 to 18.44% in January 2024, and further decreased to 8.39% in January 2026. This decline was primarily driven by a reduction in long-term debt, which fell from 20.71% to 3.61% over the period. Long-term operating lease liabilities also decreased, though less dramatically, from 2.20% to 1.24%.
Shareholders’ Equity
Shareholders’ equity increased from 58.67% in January 2021 to a peak of 76.06% in January 2026. This increase is largely attributable to changes within the equity components. Retained earnings experienced a substantial decrease from 65.67% in January 2021 to 24.70% in January 2023, followed by a significant recovery to 71.07% in January 2026. Additional paid-in capital decreased significantly from 30.29% to 4.89% over the period. Treasury stock, initially a negative 37.36%, disappeared from the analysis after January 2021. Common stock remained a very small percentage of the total.
Specific Liability Accounts
Several specific liability accounts show notable trends. Product warranty increased from 0.08% to 1.36%, indicating a potential increase in warranty obligations. Customer program accruals also increased, from 2.19% to 4.37% in January 2025, before decreasing to 2.57% in January 2026. Accrued purchase consideration appeared in January 2025 at 0.01% and increased to 1.90% in January 2026. Taxes payable fluctuated, peaking at 1.13% in January 2023 and settling at 1.29% in January 2026.

Overall, the balance sheet composition demonstrates a shift away from debt financing towards equity financing. The significant changes in retained earnings and additional paid-in capital suggest substantial impacts from profitability, share repurchases, or other equity transactions. The increasing trend in certain liability accounts, such as product warranty and customer program accruals, warrants further investigation.

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