Stock Analysis on Net

NVIDIA Corp. (NASDAQ:NVDA)

$19.99

Return on Capital (ROC)

Microsoft Excel LibreOffice Calc

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Return on Invested Capital (ROIC)

NVIDIA Corp., ROIC calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Jan 30, 2022 Jan 31, 2021 Jan 26, 2020 Jan 27, 2019 Jan 28, 2018 Jan 29, 2017
Selected Financial Data (US$ in millions)
Net operating profit after taxes (NOPAT)1
Invested capital2
Performance Ratio
ROIC3
Benchmarks
ROIC, Competitors4
Advanced Micro Devices Inc.
Analog Devices Inc.
Applied Materials Inc.
Broadcom Inc.
Intel Corp.
Lam Research Corp.
Micron Technology Inc.
Qualcomm Inc.
Texas Instruments Inc.

Based on: 10-K (reporting date: 2022-01-30), 10-K (reporting date: 2021-01-31), 10-K (reporting date: 2020-01-26), 10-K (reporting date: 2019-01-27), 10-K (reporting date: 2018-01-28), 10-K (reporting date: 2017-01-29).

1 NOPAT. See details »

2 Invested capital. See details »

3 2022 Calculation
ROIC = 100 × NOPAT ÷ Invested capital
= 100 × ÷ =

4 Click competitor name to see calculations.

Performance ratio Description The company
ROIC A measure of the periodic, after tax, cash-on-cash yield earned in the business. NVIDIA Corp. ROIC improved from 2020 to 2021 and from 2021 to 2022.

Decomposition of ROIC

NVIDIA Corp., decomposition of ROIC

Microsoft Excel LibreOffice Calc
ROIC = OPM1 × TO2 × 1 – CTR3
Jan 30, 2022 = × ×
Jan 31, 2021 = × ×
Jan 26, 2020 = × ×
Jan 27, 2019 = × ×
Jan 28, 2018 = × ×
Jan 29, 2017 = × ×

Based on: 10-K (reporting date: 2022-01-30), 10-K (reporting date: 2021-01-31), 10-K (reporting date: 2020-01-26), 10-K (reporting date: 2019-01-27), 10-K (reporting date: 2018-01-28), 10-K (reporting date: 2017-01-29).

1 Operating profit margin (OPM). See calculations »

2 Turnover of capital (TO). See calculations »

3 Effective cash tax rate (CTR). See calculations »

The primary reason for the increase in return on invested capital (ROIC) over 2022 year is the increase in profitability measured by operating profit margin (OPM) ratio.


Operating Profit Margin (OPM)

NVIDIA Corp., OPM calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Jan 30, 2022 Jan 31, 2021 Jan 26, 2020 Jan 27, 2019 Jan 28, 2018 Jan 29, 2017
Selected Financial Data (US$ in millions)
Net operating profit after taxes (NOPAT)1
Add: Cash operating taxes2
Net operating profit before taxes (NOPBT)
 
Revenue
Add: Increase (decrease) in deferred revenue
Adjusted revenue
Profitability Ratio
OPM3
Benchmarks
OPM, Competitors4
Advanced Micro Devices Inc.
Analog Devices Inc.
Applied Materials Inc.
Broadcom Inc.
Intel Corp.
Lam Research Corp.
Micron Technology Inc.
Qualcomm Inc.
Texas Instruments Inc.

Based on: 10-K (reporting date: 2022-01-30), 10-K (reporting date: 2021-01-31), 10-K (reporting date: 2020-01-26), 10-K (reporting date: 2019-01-27), 10-K (reporting date: 2018-01-28), 10-K (reporting date: 2017-01-29).

1 NOPAT. See details »

2 Cash operating taxes. See details »

3 2022 Calculation
OPM = 100 × NOPBT ÷ Adjusted revenue
= 100 × ÷ =

4 Click competitor name to see calculations.

Profitability ratio Description The company
OPM The operating profit margin (OPM) is the ratio of pretax economic earnings, or NOPBT, to sales. NVIDIA Corp. OPM improved from 2020 to 2021 and from 2021 to 2022.

Turnover of Capital (TO)

NVIDIA Corp., TO calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Jan 30, 2022 Jan 31, 2021 Jan 26, 2020 Jan 27, 2019 Jan 28, 2018 Jan 29, 2017
Selected Financial Data (US$ in millions)
Revenue
Add: Increase (decrease) in deferred revenue
Adjusted revenue
 
Invested capital1
Efficiency Ratio
TO2
Benchmarks
TO, Competitors3
Advanced Micro Devices Inc.
Analog Devices Inc.
Applied Materials Inc.
Broadcom Inc.
Intel Corp.
Lam Research Corp.
Micron Technology Inc.
Qualcomm Inc.
Texas Instruments Inc.

Based on: 10-K (reporting date: 2022-01-30), 10-K (reporting date: 2021-01-31), 10-K (reporting date: 2020-01-26), 10-K (reporting date: 2019-01-27), 10-K (reporting date: 2018-01-28), 10-K (reporting date: 2017-01-29).

1 Invested capital. See details »

2 2022 Calculation
TO = Adjusted revenue ÷ Invested capital
= ÷ =

3 Click competitor name to see calculations.

Efficiency ratio Description The company
TO The turnover of capital (TO) is the ratio of sales to invested capital. Capital turnover is a function of the efficiency of working capital management and of net fixed assets. NVIDIA Corp. TO improved from 2020 to 2021 and from 2021 to 2022.

Effective Cash Tax Rate (CTR)

NVIDIA Corp., CTR calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Jan 30, 2022 Jan 31, 2021 Jan 26, 2020 Jan 27, 2019 Jan 28, 2018 Jan 29, 2017
Selected Financial Data (US$ in millions)
Net operating profit after taxes (NOPAT)1
Add: Cash operating taxes2
Net operating profit before taxes (NOPBT)
Tax Rate
CTR3
Benchmarks
CTR, Competitors4
Advanced Micro Devices Inc.
Analog Devices Inc.
Applied Materials Inc.
Broadcom Inc.
Intel Corp.
Lam Research Corp.
Micron Technology Inc.
Qualcomm Inc.
Texas Instruments Inc.

Based on: 10-K (reporting date: 2022-01-30), 10-K (reporting date: 2021-01-31), 10-K (reporting date: 2020-01-26), 10-K (reporting date: 2019-01-27), 10-K (reporting date: 2018-01-28), 10-K (reporting date: 2017-01-29).

1 NOPAT. See details »

2 Cash operating taxes. See details »

3 2022 Calculation
CTR = 100 × Cash operating taxes ÷ NOPBT
= 100 × ÷ =

4 Click competitor name to see calculations.

Tax rate Description The company
CTR Effective cash tax rate on operating income. NVIDIA Corp. CTR increased from 2020 to 2021 but then slightly decreased from 2021 to 2022 not reaching 2020 level.