Stock Analysis on Net

NVIDIA Corp. (NASDAQ:NVDA)

Analysis of Solvency Ratios

Microsoft Excel

Solvency Ratios (Summary)

NVIDIA Corp., solvency ratios

Microsoft Excel
Jan 28, 2024 Jan 29, 2023 Jan 30, 2022 Jan 31, 2021 Jan 26, 2020 Jan 27, 2019
Debt Ratios
Debt to equity 0.23 0.50 0.41 0.41 0.16 0.21
Debt to equity (including operating lease liability) 0.26 0.54 0.44 0.46 0.22 0.21
Debt to capital 0.18 0.33 0.29 0.29 0.14 0.18
Debt to capital (including operating lease liability) 0.20 0.35 0.31 0.31 0.18 0.18
Debt to assets 0.15 0.27 0.25 0.24 0.11 0.15
Debt to assets (including operating lease liability) 0.17 0.29 0.27 0.27 0.15 0.15
Financial leverage 1.53 1.86 1.66 1.70 1.42 1.42
Coverage Ratios
Interest coverage 132.59 16.96 43.12 24.96 58.12 68.17
Fixed charge coverage 65.29 10.19 25.61 14.40 18.89 29.23

Based on: 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), 10-K (reporting date: 2020-01-26), 10-K (reporting date: 2019-01-27).

Solvency ratio Description The company
Debt to equity ratio A solvency ratio calculated as total debt divided by total shareholders’ equity. NVIDIA Corp. debt to equity ratio deteriorated from 2022 to 2023 but then improved from 2023 to 2024 exceeding 2022 level.
Debt to equity ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total shareholders’ equity. NVIDIA Corp. debt to equity ratio (including operating lease liability) deteriorated from 2022 to 2023 but then improved from 2023 to 2024 exceeding 2022 level.
Debt to capital ratio A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. NVIDIA Corp. debt to capital ratio deteriorated from 2022 to 2023 but then improved from 2023 to 2024 exceeding 2022 level.
Debt to capital ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total debt (including operating lease liability) plus shareholders’ equity. NVIDIA Corp. debt to capital ratio (including operating lease liability) deteriorated from 2022 to 2023 but then improved from 2023 to 2024 exceeding 2022 level.
Debt to assets ratio A solvency ratio calculated as total debt divided by total assets. NVIDIA Corp. debt to assets ratio deteriorated from 2022 to 2023 but then improved from 2023 to 2024 exceeding 2022 level.
Debt to assets ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total assets. NVIDIA Corp. debt to assets ratio (including operating lease liability) deteriorated from 2022 to 2023 but then improved from 2023 to 2024 exceeding 2022 level.
Financial leverage ratio A solvency ratio calculated as total assets divided by total shareholders’ equity. NVIDIA Corp. financial leverage ratio increased from 2022 to 2023 but then decreased significantly from 2023 to 2024.

Solvency ratio Description The company
Interest coverage ratio A solvency ratio calculated as EBIT divided by interest payments. NVIDIA Corp. interest coverage ratio deteriorated from 2022 to 2023 but then improved from 2023 to 2024 exceeding 2022 level.
Fixed charge coverage ratio A solvency ratio calculated as earnings before fixed charges and tax divided by fixed charges. NVIDIA Corp. fixed charge coverage ratio deteriorated from 2022 to 2023 but then improved from 2023 to 2024 exceeding 2022 level.

Debt to Equity

NVIDIA Corp., debt to equity calculation, comparison to benchmarks

Microsoft Excel
Jan 28, 2024 Jan 29, 2023 Jan 30, 2022 Jan 31, 2021 Jan 26, 2020 Jan 27, 2019
Selected Financial Data (US$ in millions)
Short-term debt 1,250 1,250 999
Long-term debt 8,459 9,703 10,946 5,964 1,991 1,988
Total debt 9,709 10,953 10,946 6,963 1,991 1,988
 
Shareholders’ equity 42,978 22,101 26,612 16,893 12,204 9,342
Solvency Ratio
Debt to equity1 0.23 0.50 0.41 0.41 0.16 0.21
Benchmarks
Debt to Equity, Competitors2
Advanced Micro Devices Inc. 0.04 0.05 0.04 0.06 0.17
Analog Devices Inc. 0.20 0.18 0.18 0.43 0.47
Applied Materials Inc. 0.35 0.45 0.45 0.52 0.65
Broadcom Inc. 1.64 1.74 1.59 1.72 1.32
Intel Corp. 0.47 0.41 0.40 0.45 0.37
KLA Corp. 2.02 4.75 1.02 1.30 1.29
Lam Research Corp. 0.61 0.80 0.83 1.12 0.96
Micron Technology Inc. 0.30 0.14 0.15 0.17 0.16
ON Semiconductor Corp. 0.43 0.52 0.68 0.99 1.09
Qualcomm Inc. 0.71 0.86 1.58 2.59 3.25
Texas Instruments Inc. 0.66 0.60 0.58 0.74 0.65
Debt to Equity, Sector
Semiconductors & Semiconductor Equipment 0.47 0.44 0.50 0.63 0.59
Debt to Equity, Industry
Information Technology 0.63 0.67 0.77 0.88 0.88

Based on: 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), 10-K (reporting date: 2020-01-26), 10-K (reporting date: 2019-01-27).

1 2024 Calculation
Debt to equity = Total debt ÷ Shareholders’ equity
= 9,709 ÷ 42,978 = 0.23

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to equity ratio A solvency ratio calculated as total debt divided by total shareholders’ equity. NVIDIA Corp. debt to equity ratio deteriorated from 2022 to 2023 but then improved from 2023 to 2024 exceeding 2022 level.

Debt to Equity (including Operating Lease Liability)

NVIDIA Corp., debt to equity (including operating lease liability) calculation, comparison to benchmarks

Microsoft Excel
Jan 28, 2024 Jan 29, 2023 Jan 30, 2022 Jan 31, 2021 Jan 26, 2020 Jan 27, 2019
Selected Financial Data (US$ in millions)
Short-term debt 1,250 1,250 999
Long-term debt 8,459 9,703 10,946 5,964 1,991 1,988
Total debt 9,709 10,953 10,946 6,963 1,991 1,988
Short-term operating lease liabilities 228 176 144 121 91
Long-term operating lease liabilities 1,119 902 741 634 561
Total debt (including operating lease liability) 11,056 12,031 11,831 7,718 2,643 1,988
 
Shareholders’ equity 42,978 22,101 26,612 16,893 12,204 9,342
Solvency Ratio
Debt to equity (including operating lease liability)1 0.26 0.54 0.44 0.46 0.22 0.21
Benchmarks
Debt to Equity (including Operating Lease Liability), Competitors2
Advanced Micro Devices Inc. 0.06 0.05 0.10 0.10 0.26
Analog Devices Inc. 0.21 0.19 0.19 0.46 0.47
Applied Materials Inc. 0.37 0.48 0.47 0.54 0.65
Broadcom Inc. 1.65 1.76 1.61 1.75 1.32
Intel Corp. 0.47 0.42 0.40 0.46 0.38
KLA Corp. 2.08 4.83 1.05 1.34 1.29
Lam Research Corp. 0.64 0.83 0.86 1.16 0.96
Micron Technology Inc. 0.32 0.15 0.17 0.19 0.16
ON Semiconductor Corp. 0.47 0.57 0.71 1.03 1.13
Qualcomm Inc. 0.74 0.90 1.64 2.67 3.25
Texas Instruments Inc. 0.70 0.63 0.62 0.77 0.69
Debt to Equity (including Operating Lease Liability), Sector
Semiconductors & Semiconductor Equipment 0.48 0.45 0.52 0.65 0.59
Debt to Equity (including Operating Lease Liability), Industry
Information Technology 0.69 0.73 0.84 0.95 0.90

Based on: 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), 10-K (reporting date: 2020-01-26), 10-K (reporting date: 2019-01-27).

1 2024 Calculation
Debt to equity (including operating lease liability) = Total debt (including operating lease liability) ÷ Shareholders’ equity
= 11,056 ÷ 42,978 = 0.26

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to equity ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total shareholders’ equity. NVIDIA Corp. debt to equity ratio (including operating lease liability) deteriorated from 2022 to 2023 but then improved from 2023 to 2024 exceeding 2022 level.

Debt to Capital

NVIDIA Corp., debt to capital calculation, comparison to benchmarks

Microsoft Excel
Jan 28, 2024 Jan 29, 2023 Jan 30, 2022 Jan 31, 2021 Jan 26, 2020 Jan 27, 2019
Selected Financial Data (US$ in millions)
Short-term debt 1,250 1,250 999
Long-term debt 8,459 9,703 10,946 5,964 1,991 1,988
Total debt 9,709 10,953 10,946 6,963 1,991 1,988
Shareholders’ equity 42,978 22,101 26,612 16,893 12,204 9,342
Total capital 52,687 33,054 37,558 23,856 14,195 11,330
Solvency Ratio
Debt to capital1 0.18 0.33 0.29 0.29 0.14 0.18
Benchmarks
Debt to Capital, Competitors2
Advanced Micro Devices Inc. 0.04 0.04 0.04 0.05 0.15
Analog Devices Inc. 0.16 0.15 0.15 0.30 0.32
Applied Materials Inc. 0.26 0.31 0.31 0.34 0.39
Broadcom Inc. 0.62 0.64 0.61 0.63 0.57
Intel Corp. 0.32 0.29 0.29 0.31 0.27
KLA Corp. 0.67 0.83 0.50 0.57 0.56
Lam Research Corp. 0.38 0.44 0.45 0.53 0.49
Micron Technology Inc. 0.23 0.12 0.13 0.15 0.14
ON Semiconductor Corp. 0.30 0.34 0.40 0.50 0.52
Qualcomm Inc. 0.42 0.46 0.61 0.72 0.76
Texas Instruments Inc. 0.40 0.37 0.37 0.43 0.39
Debt to Capital, Sector
Semiconductors & Semiconductor Equipment 0.32 0.30 0.34 0.39 0.37
Debt to Capital, Industry
Information Technology 0.38 0.40 0.43 0.47 0.47

Based on: 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), 10-K (reporting date: 2020-01-26), 10-K (reporting date: 2019-01-27).

1 2024 Calculation
Debt to capital = Total debt ÷ Total capital
= 9,709 ÷ 52,687 = 0.18

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to capital ratio A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. NVIDIA Corp. debt to capital ratio deteriorated from 2022 to 2023 but then improved from 2023 to 2024 exceeding 2022 level.

Debt to Capital (including Operating Lease Liability)

NVIDIA Corp., debt to capital (including operating lease liability) calculation, comparison to benchmarks

Microsoft Excel
Jan 28, 2024 Jan 29, 2023 Jan 30, 2022 Jan 31, 2021 Jan 26, 2020 Jan 27, 2019
Selected Financial Data (US$ in millions)
Short-term debt 1,250 1,250 999
Long-term debt 8,459 9,703 10,946 5,964 1,991 1,988
Total debt 9,709 10,953 10,946 6,963 1,991 1,988
Short-term operating lease liabilities 228 176 144 121 91
Long-term operating lease liabilities 1,119 902 741 634 561
Total debt (including operating lease liability) 11,056 12,031 11,831 7,718 2,643 1,988
Shareholders’ equity 42,978 22,101 26,612 16,893 12,204 9,342
Total capital (including operating lease liability) 54,034 34,132 38,443 24,611 14,847 11,330
Solvency Ratio
Debt to capital (including operating lease liability)1 0.20 0.35 0.31 0.31 0.18 0.18
Benchmarks
Debt to Capital (including Operating Lease Liability), Competitors2
Advanced Micro Devices Inc. 0.05 0.05 0.09 0.09 0.20
Analog Devices Inc. 0.17 0.16 0.16 0.31 0.32
Applied Materials Inc. 0.27 0.32 0.32 0.35 0.39
Broadcom Inc. 0.62 0.64 0.62 0.64 0.57
Intel Corp. 0.32 0.30 0.29 0.31 0.28
KLA Corp. 0.67 0.83 0.51 0.57 0.56
Lam Research Corp. 0.39 0.45 0.46 0.54 0.49
Micron Technology Inc. 0.24 0.13 0.14 0.16 0.14
ON Semiconductor Corp. 0.32 0.36 0.42 0.51 0.53
Qualcomm Inc. 0.43 0.47 0.62 0.73 0.76
Texas Instruments Inc. 0.41 0.39 0.38 0.44 0.41
Debt to Capital (including Operating Lease Liability), Sector
Semiconductors & Semiconductor Equipment 0.33 0.31 0.34 0.39 0.37
Debt to Capital (including Operating Lease Liability), Industry
Information Technology 0.41 0.42 0.46 0.49 0.47

Based on: 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), 10-K (reporting date: 2020-01-26), 10-K (reporting date: 2019-01-27).

1 2024 Calculation
Debt to capital (including operating lease liability) = Total debt (including operating lease liability) ÷ Total capital (including operating lease liability)
= 11,056 ÷ 54,034 = 0.20

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to capital ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total debt (including operating lease liability) plus shareholders’ equity. NVIDIA Corp. debt to capital ratio (including operating lease liability) deteriorated from 2022 to 2023 but then improved from 2023 to 2024 exceeding 2022 level.

Debt to Assets

NVIDIA Corp., debt to assets calculation, comparison to benchmarks

Microsoft Excel
Jan 28, 2024 Jan 29, 2023 Jan 30, 2022 Jan 31, 2021 Jan 26, 2020 Jan 27, 2019
Selected Financial Data (US$ in millions)
Short-term debt 1,250 1,250 999
Long-term debt 8,459 9,703 10,946 5,964 1,991 1,988
Total debt 9,709 10,953 10,946 6,963 1,991 1,988
 
Total assets 65,728 41,182 44,187 28,791 17,315 13,292
Solvency Ratio
Debt to assets1 0.15 0.27 0.25 0.24 0.11 0.15
Benchmarks
Debt to Assets, Competitors2
Advanced Micro Devices Inc. 0.04 0.04 0.03 0.04 0.08
Analog Devices Inc. 0.14 0.13 0.13 0.24 0.26
Applied Materials Inc. 0.18 0.20 0.21 0.24 0.28
Broadcom Inc. 0.54 0.54 0.53 0.54 0.49
Intel Corp. 0.26 0.23 0.23 0.24 0.21
KLA Corp. 0.42 0.53 0.34 0.37 0.38
Lam Research Corp. 0.27 0.29 0.31 0.40 0.37
Micron Technology Inc. 0.21 0.10 0.12 0.12 0.12
ON Semiconductor Corp. 0.25 0.27 0.32 0.40 0.43
Qualcomm Inc. 0.30 0.32 0.38 0.44 0.48
Texas Instruments Inc. 0.35 0.32 0.31 0.35 0.32
Debt to Assets, Sector
Semiconductors & Semiconductor Equipment 0.26 0.24 0.27 0.30 0.29
Debt to Assets, Industry
Information Technology 0.26 0.26 0.28 0.30 0.31

Based on: 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), 10-K (reporting date: 2020-01-26), 10-K (reporting date: 2019-01-27).

1 2024 Calculation
Debt to assets = Total debt ÷ Total assets
= 9,709 ÷ 65,728 = 0.15

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to assets ratio A solvency ratio calculated as total debt divided by total assets. NVIDIA Corp. debt to assets ratio deteriorated from 2022 to 2023 but then improved from 2023 to 2024 exceeding 2022 level.

Debt to Assets (including Operating Lease Liability)

NVIDIA Corp., debt to assets (including operating lease liability) calculation, comparison to benchmarks

Microsoft Excel
Jan 28, 2024 Jan 29, 2023 Jan 30, 2022 Jan 31, 2021 Jan 26, 2020 Jan 27, 2019
Selected Financial Data (US$ in millions)
Short-term debt 1,250 1,250 999
Long-term debt 8,459 9,703 10,946 5,964 1,991 1,988
Total debt 9,709 10,953 10,946 6,963 1,991 1,988
Short-term operating lease liabilities 228 176 144 121 91
Long-term operating lease liabilities 1,119 902 741 634 561
Total debt (including operating lease liability) 11,056 12,031 11,831 7,718 2,643 1,988
 
Total assets 65,728 41,182 44,187 28,791 17,315 13,292
Solvency Ratio
Debt to assets (including operating lease liability)1 0.17 0.29 0.27 0.27 0.15 0.15
Benchmarks
Debt to Assets (including Operating Lease Liability), Competitors2
Advanced Micro Devices Inc. 0.05 0.04 0.06 0.06 0.12
Analog Devices Inc. 0.15 0.14 0.14 0.25 0.26
Applied Materials Inc. 0.20 0.22 0.22 0.26 0.28
Broadcom Inc. 0.54 0.55 0.53 0.55 0.49
Intel Corp. 0.26 0.23 0.23 0.24 0.22
KLA Corp. 0.43 0.54 0.35 0.38 0.38
Lam Research Corp. 0.28 0.30 0.33 0.41 0.37
Micron Technology Inc. 0.22 0.11 0.12 0.13 0.12
ON Semiconductor Corp. 0.27 0.29 0.34 0.42 0.44
Qualcomm Inc. 0.31 0.33 0.40 0.46 0.48
Texas Instruments Inc. 0.36 0.34 0.33 0.37 0.34
Debt to Assets (including Operating Lease Liability), Sector
Semiconductors & Semiconductor Equipment 0.27 0.25 0.27 0.31 0.29
Debt to Assets (including Operating Lease Liability), Industry
Information Technology 0.28 0.29 0.31 0.33 0.32

Based on: 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), 10-K (reporting date: 2020-01-26), 10-K (reporting date: 2019-01-27).

1 2024 Calculation
Debt to assets (including operating lease liability) = Total debt (including operating lease liability) ÷ Total assets
= 11,056 ÷ 65,728 = 0.17

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to assets ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total assets. NVIDIA Corp. debt to assets ratio (including operating lease liability) deteriorated from 2022 to 2023 but then improved from 2023 to 2024 exceeding 2022 level.

Financial Leverage

NVIDIA Corp., financial leverage calculation, comparison to benchmarks

Microsoft Excel
Jan 28, 2024 Jan 29, 2023 Jan 30, 2022 Jan 31, 2021 Jan 26, 2020 Jan 27, 2019
Selected Financial Data (US$ in millions)
Total assets 65,728 41,182 44,187 28,791 17,315 13,292
Shareholders’ equity 42,978 22,101 26,612 16,893 12,204 9,342
Solvency Ratio
Financial leverage1 1.53 1.86 1.66 1.70 1.42 1.42
Benchmarks
Financial Leverage, Competitors2
Advanced Micro Devices Inc. 1.21 1.23 1.66 1.54 2.13
Analog Devices Inc. 1.37 1.38 1.38 1.79 1.83
Applied Materials Inc. 1.88 2.19 2.11 2.11 2.32
Broadcom Inc. 3.04 3.23 3.03 3.18 2.71
Intel Corp. 1.81 1.80 1.77 1.89 1.76
KLA Corp. 4.82 8.99 3.04 3.48 3.39
Lam Research Corp. 2.29 2.74 2.64 2.81 2.57
Micron Technology Inc. 1.46 1.33 1.34 1.38 1.36
ON Semiconductor Corp. 1.70 1.94 2.10 2.45 2.55
Qualcomm Inc. 2.37 2.72 4.14 5.86 6.71
Texas Instruments Inc. 1.91 1.87 1.85 2.11 2.02
Financial Leverage, Sector
Semiconductors & Semiconductor Equipment 1.79 1.79 1.90 2.08 2.02
Financial Leverage, Industry
Information Technology 2.44 2.56 2.72 2.90 2.87

Based on: 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), 10-K (reporting date: 2020-01-26), 10-K (reporting date: 2019-01-27).

1 2024 Calculation
Financial leverage = Total assets ÷ Shareholders’ equity
= 65,728 ÷ 42,978 = 1.53

2 Click competitor name to see calculations.

Solvency ratio Description The company
Financial leverage ratio A solvency ratio calculated as total assets divided by total shareholders’ equity. NVIDIA Corp. financial leverage ratio increased from 2022 to 2023 but then decreased significantly from 2023 to 2024.

Interest Coverage

NVIDIA Corp., interest coverage calculation, comparison to benchmarks

Microsoft Excel
Jan 28, 2024 Jan 29, 2023 Jan 30, 2022 Jan 31, 2021 Jan 26, 2020 Jan 27, 2019
Selected Financial Data (US$ in millions)
Net income 29,760 4,368 9,752 4,332 2,796 4,141
Add: Income tax expense 4,058 (187) 189 77 174 (245)
Add: Interest expense 257 262 236 184 52 58
Earnings before interest and tax (EBIT) 34,075 4,443 10,177 4,593 3,022 3,954
Solvency Ratio
Interest coverage1 132.59 16.96 43.12 24.96 58.12 68.17
Benchmarks
Interest Coverage, Competitors2
Advanced Micro Devices Inc. 5.79 14.61 109.09 28.23 4.96
Analog Devices Inc. 14.63 16.46 8.19 7.79 7.49
Applied Materials Inc. 33.42 34.33 29.69 18.36 14.79
Broadcom Inc. 10.31 8.16 4.59 2.37 2.54
Intel Corp. 1.87 16.66 37.35 40.87 50.20
KLA Corp. 13.76 22.76 16.00 9.22 11.40
Lam Research Corp. 28.40 29.11 21.95 15.51 21.86
Micron Technology Inc. -13.58 51.66 35.18 16.41 56.09
ON Semiconductor Corp. 34.90 25.89 9.88 2.05 2.87
Qualcomm Inc. 11.72 31.61 19.38 10.50 12.93
Texas Instruments Inc. 22.01 47.88 49.47 32.67 34.69
Interest Coverage, Sector
Semiconductors & Semiconductor Equipment 10.79 21.31 18.17 13.65 16.41
Interest Coverage, Industry
Information Technology 18.91 24.76 22.93 16.69 15.79

Based on: 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), 10-K (reporting date: 2020-01-26), 10-K (reporting date: 2019-01-27).

1 2024 Calculation
Interest coverage = EBIT ÷ Interest expense
= 34,075 ÷ 257 = 132.59

2 Click competitor name to see calculations.

Solvency ratio Description The company
Interest coverage ratio A solvency ratio calculated as EBIT divided by interest payments. NVIDIA Corp. interest coverage ratio deteriorated from 2022 to 2023 but then improved from 2023 to 2024 exceeding 2022 level.

Fixed Charge Coverage

NVIDIA Corp., fixed charge coverage calculation, comparison to benchmarks

Microsoft Excel
Jan 28, 2024 Jan 29, 2023 Jan 30, 2022 Jan 31, 2021 Jan 26, 2020 Jan 27, 2019
Selected Financial Data (US$ in millions)
Net income 29,760 4,368 9,752 4,332 2,796 4,141
Add: Income tax expense 4,058 (187) 189 77 174 (245)
Add: Interest expense 257 262 236 184 52 58
Earnings before interest and tax (EBIT) 34,075 4,443 10,177 4,593 3,022 3,954
Add: Operating lease expenses 269 193 168 145 114 80
Earnings before fixed charges and tax 34,344 4,636 10,345 4,738 3,136 4,034
 
Interest expense 257 262 236 184 52 58
Operating lease expenses 269 193 168 145 114 80
Fixed charges 526 455 404 329 166 138
Solvency Ratio
Fixed charge coverage1 65.29 10.19 25.61 14.40 18.89 29.23
Benchmarks
Fixed Charge Coverage, Competitors2
Advanced Micro Devices Inc. 3.18 6.82 36.00 13.08 3.48
Analog Devices Inc. 11.89 12.87 6.64 6.48 5.62
Applied Materials Inc. 23.69 24.67 22.50 14.48 12.35
Broadcom Inc. 9.81 6.55 3.70 1.92 2.27
Intel Corp. 1.59 7.34 16.56 25.00 36.69
KLA Corp. 12.19 18.72 13.03 7.74 10.39
Lam Research Corp. 20.49 21.44 17.80 12.52 17.83
Micron Technology Inc. -9.77 31.49 22.49 11.10 32.90
ON Semiconductor Corp. 20.57 16.23 7.58 1.82 2.46
Qualcomm Inc. 9.29 22.52 14.48 8.30 10.68
Texas Instruments Inc. 18.41 36.70 36.25 24.14 25.27
Fixed Charge Coverage, Sector
Semiconductors & Semiconductor Equipment 8.57 14.45 12.61 10.13 12.91
Fixed Charge Coverage, Industry
Information Technology 12.67 14.28 13.50 10.20 10.46

Based on: 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), 10-K (reporting date: 2020-01-26), 10-K (reporting date: 2019-01-27).

1 2024 Calculation
Fixed charge coverage = Earnings before fixed charges and tax ÷ Fixed charges
= 34,344 ÷ 526 = 65.29

2 Click competitor name to see calculations.

Solvency ratio Description The company
Fixed charge coverage ratio A solvency ratio calculated as earnings before fixed charges and tax divided by fixed charges. NVIDIA Corp. fixed charge coverage ratio deteriorated from 2022 to 2023 but then improved from 2023 to 2024 exceeding 2022 level.