Balance Sheet: Liabilities and Stockholders’ Equity

The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.

Liabilities represents obligations of a company arising from past events, the settlement of which is expected to result in an outflow of economic benefits from the entity.

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

US$ in millions

	Jan 25, 2026	Jan 26, 2025	Jan 28, 2024	Jan 29, 2023	Jan 30, 2022	Jan 31, 2021
Accounts payable	9,812)	6,310)	2,699)	1,193)	1,783)	1,201)
Customer program accruals	5,318)	4,880)	2,081)	1,196)	1,000)	630)
Accrued purchase consideration	3,921)	9)	—)	—)	—)	—)
Product warranty	2,807)	1,290)	306)	82)	46)	22)
Excess inventory purchase obligations	2,739)	2,095)	1,655)	954)	196)	—)
Taxes payable	2,669)	881)	296)	467)	132)	—)
Deferred revenue	1,379)	837)	764)	354)	300)	288)
Accrued payroll and related expenses	1,146)	848)	675)	530)	409)	297)
Other	1,373)	897)	905)	537)	469)	488)
Accrued and other current liabilities	21,352)	11,737)	6,682)	4,120)	2,552)	1,725)
Short-term debt	999)	—)	1,250)	1,250)	—)	999)
Current liabilities	32,163)	18,047)	10,631)	6,563)	4,335)	3,925)
Long-term debt	7,469)	8,463)	8,459)	9,703)	10,946)	5,964)
Long-term operating lease liabilities	2,572)	1,519)	1,119)	902)	741)	634)
Income tax payable	3,958)	2,188)	1,361)	1,204)	980)	836)
Deferred income tax	1,774)	886)	462)	247)	245)	241)
Deferred revenue	1,193)	976)	573)	218)	202)	163)
Other	381)	195)	145)	244)	126)	135)
Other long-term liabilities	7,306)	4,245)	2,541)	1,913)	1,553)	1,375)
Long-term liabilities	17,347)	14,227)	12,119)	12,518)	13,240)	7,973)
Total liabilities	49,510)	32,274)	22,750)	19,081)	17,575)	11,898)
Preferred stock, $.001 par value; none issued	—)	—)	—)	—)	—)	—)
Common stock, $.001 par value	24)	24)	2)	2)	3)	1)
Additional paid-in capital	10,118)	11,237)	13,132)	11,971)	10,385)	8,721)
Treasury stock, at cost	—)	—)	—)	—)	—)	(10,756)
Accumulated other comprehensive income (loss)	178)	28)	27)	(43)	(11)	19)
Retained earnings	146,973)	68,038)	29,817)	10,171)	16,235)	18,908)
Shareholders’ equity	157,293)	79,327)	42,978)	22,101)	26,612)	16,893)
Total liabilities and shareholders’ equity	206,803)	111,601)	65,728)	41,182)	44,187)	28,791)

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).

Overall, the liabilities and stockholders’ equity of the company demonstrate significant growth over the analyzed period, particularly from 2023 onwards. Total liabilities nearly tripled between 2021 and 2026, while stockholders’ equity more than quintupled. This expansion is driven by increases across numerous liability accounts and substantial growth in retained earnings.

Current Liabilities: Current liabilities exhibit a consistent upward trend, accelerating significantly from 2023. The most substantial increases are observed in accrued and other current liabilities, growing from US$4,120 million in 2023 to US$21,352 million in 2026. Accounts payable and customer program accruals also contribute significantly to this growth, with both doubling between 2023 and 2025, and continuing to rise through 2026. Short-term debt fluctuates, remaining relatively stable between 2023 and 2024, then decreasing to 2021 levels in 2026.
Long-Term Liabilities: Long-term liabilities show a more moderate increase compared to current liabilities, though still substantial. Long-term debt decreased from 2022 to 2024, but remained relatively stable thereafter. Long-term operating lease liabilities and other long-term liabilities demonstrate consistent growth throughout the period, with the latter experiencing a particularly rapid increase from US$2,541 million in 2024 to US$7,306 million in 2026. Income tax payable and deferred income tax also contribute to the overall increase in long-term liabilities.
Stockholders’ Equity: Stockholders’ equity experiences dramatic growth, primarily driven by retained earnings. Retained earnings increase from US$10,171 million in 2023 to US$146,973 million in 2026, indicating substantial profitability. Additional paid-in capital shows initial growth, peaking in 2024, then decreasing in 2025 and 2026. Treasury stock is only present in 2021, and common stock remains relatively stable, with a significant increase in 2025. Accumulated other comprehensive income (loss) transitions from a loss to a gain over the period, though its overall impact is less significant than that of retained earnings.
Specific Liability Accounts: Several specific liability accounts demonstrate notable increases. Product warranty obligations increase substantially, growing from US$82 million in 2023 to US$2,807 million in 2026. Excess inventory purchase obligations also show significant growth, rising from US$954 million in 2023 to US$2,739 million in 2026. Accrued purchase consideration appears in 2025 and 2026, growing to US$3,921 million in 2026. Taxes payable also increase significantly, particularly between 2025 and 2026.

The company’s financial position is characterized by increasing leverage, as evidenced by the growth in total liabilities. However, this is accompanied by a much larger increase in stockholders’ equity, suggesting a strong ability to fund its growth through retained earnings. The significant increases in specific liability accounts, such as product warranty and customer program accruals, warrant further investigation to understand the underlying drivers and potential risks.

AI Ask an analyst for more

Download chart

NVIDIA Corp. (NASDAQ:NVDA)

Balance Sheet: Liabilities and Stockholders’ Equity