Stock Analysis on Net
Stock Analysis on Net

NVIDIA Corp. (NASDAQ:NVDA)

$24.99

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.

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

US$ in millions

Microsoft Excel
Jan 25, 2026 Jan 26, 2025 Jan 28, 2024 Jan 29, 2023 Jan 30, 2022 Jan 31, 2021
Accounts payable
Customer program accruals
Accrued purchase consideration
Product warranty
Excess inventory purchase obligations
Taxes payable
Deferred revenue
Accrued payroll and related expenses
Other
Accrued and other current liabilities
Short-term debt
Current liabilities
Long-term debt
Long-term operating lease liabilities
Income tax payable
Deferred income tax
Deferred revenue
Other
Other long-term liabilities
Long-term liabilities
Total liabilities
Preferred stock, $.001 par value; none issued
Common stock, $.001 par value
Additional paid-in capital
Treasury stock, at cost
Accumulated other comprehensive income (loss)
Retained earnings
Shareholders’ equity
Total liabilities and shareholders’ equity

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.