Stock Analysis on Net
Stock Analysis on Net

NVIDIA Corp. (NASDAQ:NVDA)

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Return on Capital (ROC)

Microsoft Excel LibreOffice Calc

Return on capital (ROC) is after tax rate of return on net business assets. ROIC is unaffected by changes in interest rates or company’s debt and equity structure. It measures business productivity performance.

Return on Invested Capital (ROIC)

NVIDIA Corp., ROIC calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Jan 31, 2021 Jan 26, 2020 Jan 27, 2019 Jan 28, 2018 Jan 29, 2017 Jan 31, 2016
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.
Applied Materials Inc.
Broadcom Inc.
Intel Corp.
Lam Research Corp.
Micron Technology Inc.
Qualcomm Inc.
Texas Instruments Inc.

Based on: 10-K (filing date: 2021-02-26), 10-K (filing date: 2020-02-20), 10-K (filing date: 2019-02-21), 10-K (filing date: 2018-02-28), 10-K (filing date: 2017-03-01), 10-K (filing date: 2016-03-17).

1 NOPAT. See details »

2 Invested capital. See details »

3 2021 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.’s ROIC deteriorated from 2019 to 2020 but then slightly improved from 2020 to 2021.

Decomposition of ROIC

NVIDIA Corp., decomposition of ROIC

Microsoft Excel LibreOffice Calc
ROIC = OPM1 × TO2 × 1 – CTR3
Jan 31, 2021 = × ×
Jan 26, 2020 = × ×
Jan 27, 2019 = × ×
Jan 28, 2018 = × ×
Jan 29, 2017 = × ×
Jan 31, 2016 = × ×

Based on: 10-K (filing date: 2021-02-26), 10-K (filing date: 2020-02-20), 10-K (filing date: 2019-02-21), 10-K (filing date: 2018-02-28), 10-K (filing date: 2017-03-01), 10-K (filing date: 2016-03-17).

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 2021 year is the increase in efficiency measured by turnover of capital (TO) ratio.

Operating Profit Margin (OPM)

NVIDIA Corp., OPM calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Jan 31, 2021 Jan 26, 2020 Jan 27, 2019 Jan 28, 2018 Jan 29, 2017 Jan 31, 2016
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.
Applied Materials Inc.
Broadcom Inc.
Intel Corp.
Lam Research Corp.
Micron Technology Inc.
Qualcomm Inc.
Texas Instruments Inc.

Based on: 10-K (filing date: 2021-02-26), 10-K (filing date: 2020-02-20), 10-K (filing date: 2019-02-21), 10-K (filing date: 2018-02-28), 10-K (filing date: 2017-03-01), 10-K (filing date: 2016-03-17).

1 NOPAT. See details »

2 Cash operating taxes. See details »

3 2021 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.’s OPM deteriorated from 2019 to 2020 but then slightly improved from 2020 to 2021.

Turnover of Capital (TO)

NVIDIA Corp., TO calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Jan 31, 2021 Jan 26, 2020 Jan 27, 2019 Jan 28, 2018 Jan 29, 2017 Jan 31, 2016
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.
Applied Materials Inc.
Broadcom Inc.
Intel Corp.
Lam Research Corp.
Micron Technology Inc.
Qualcomm Inc.
Texas Instruments Inc.

Based on: 10-K (filing date: 2021-02-26), 10-K (filing date: 2020-02-20), 10-K (filing date: 2019-02-21), 10-K (filing date: 2018-02-28), 10-K (filing date: 2017-03-01), 10-K (filing date: 2016-03-17).

1 Invested capital. See details »

2 2021 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.’s TO deteriorated from 2019 to 2020 but then slightly improved from 2020 to 2021.

Effective Cash Tax Rate (CTR)

NVIDIA Corp., CTR calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Jan 31, 2021 Jan 26, 2020 Jan 27, 2019 Jan 28, 2018 Jan 29, 2017 Jan 31, 2016
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.
Applied Materials Inc.
Broadcom Inc.
Intel Corp.
Lam Research Corp.
Micron Technology Inc.
Qualcomm Inc.
Texas Instruments Inc.

Based on: 10-K (filing date: 2021-02-26), 10-K (filing date: 2020-02-20), 10-K (filing date: 2019-02-21), 10-K (filing date: 2018-02-28), 10-K (filing date: 2017-03-01), 10-K (filing date: 2016-03-17).

1 NOPAT. See details »

2 Cash operating taxes. See details »

3 2021 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.’s CTR increased from 2019 to 2020 and from 2020 to 2021.