NVIDIA Corp. (NASDAQ:NVDA)


Analysis of Solvency Ratios
Quarterly Data

Beginner level


Solvency Ratios (Summary)

NVIDIA Corp., solvency ratios (quarterly data)

Microsoft Excel LibreOffice Calc
Jan 26, 2020 Oct 27, 2019 Jul 28, 2019 Apr 28, 2019 Jan 27, 2019 Oct 28, 2018 Jul 29, 2018 Apr 29, 2018 Jan 28, 2018 Oct 29, 2017 Jul 30, 2017 Apr 30, 2017 Jan 29, 2017 Oct 30, 2016 Jul 31, 2016 May 1, 2016 Jan 31, 2016 Oct 25, 2015 Jul 26, 2015 Apr 26, 2015 Jan 25, 2015 Oct 26, 2014 Jul 27, 2014 Apr 27, 2014
Debt Ratios
Debt to equity 0.16 0.18 0.19 0.20 0.21 0.21 0.23 0.26 0.27 0.32 0.35 0.36 0.48 0.56 0.32 0.34 0.32 0.32 0.34 0.31 0.32 0.33 0.32 0.33
Debt to equity (including operating lease liability) 0.21 0.22 0.24 0.25 0.21 0.21 0.23 0.26 0.27 0.32 0.35 0.36 0.48 0.56 0.32 0.34 0.32 0.32 0.34 0.31 0.32 0.33 0.32 0.33
Debt to capital 0.14 0.15 0.16 0.17 0.18 0.17 0.19 0.21 0.21 0.24 0.26 0.26 0.33 0.36 0.24 0.25 0.24 0.24 0.25 0.24 0.24 0.25 0.24 0.25
Debt to capital (including operating lease liability) 0.17 0.18 0.19 0.20 0.18 0.17 0.19 0.21 0.21 0.24 0.26 0.26 0.33 0.36 0.24 0.25 0.24 0.24 0.25 0.24 0.24 0.25 0.24 0.25
Debt to assets 0.11 0.13 0.13 0.14 0.15 0.15 0.16 0.17 0.18 0.20 0.22 0.23 0.28 0.31 0.19 0.20 0.19 0.20 0.20 0.19 0.19 0.20 0.20 0.20
Debt to assets (including operating lease liability) 0.15 0.16 0.17 0.18 0.15 0.15 0.16 0.17 0.18 0.20 0.22 0.23 0.28 0.31 0.19 0.20 0.19 0.20 0.20 0.19 0.19 0.20 0.20 0.20
Financial leverage 1.42 1.41 1.43 1.44 1.42 1.44 1.46 1.49 1.50 1.55 1.57 1.53 1.71 1.81 1.67 1.69 1.65 1.61 1.67 1.60 1.63 1.64 1.61 1.65
Coverage Ratios
Interest coverage 58.12 43.98 44.64 54.11 68.17 79.85 76.71 67.18 53.39 45.41 40.49 36.48 33.84 29.10 23.49 18.28 16.81 16.06 15.45 17.36 17.36

Based on: 10-K (filing date: 2020-02-20), 10-Q (filing date: 2019-11-14), 10-Q (filing date: 2019-08-15), 10-Q (filing date: 2019-05-16), 10-K (filing date: 2019-02-21), 10-Q (filing date: 2018-11-15), 10-Q (filing date: 2018-08-16), 10-Q (filing date: 2018-05-22), 10-K (filing date: 2018-02-28), 10-Q (filing date: 2017-11-21), 10-Q (filing date: 2017-08-23), 10-Q (filing date: 2017-05-23), 10-K (filing date: 2017-03-01), 10-Q (filing date: 2016-11-22), 10-Q (filing date: 2016-08-23), 10-Q (filing date: 2016-05-25), 10-K (filing date: 2016-03-17), 10-Q (filing date: 2015-11-18), 10-Q (filing date: 2015-08-19), 10-Q (filing date: 2015-05-20), 10-K (filing date: 2015-03-12), 10-Q (filing date: 2014-11-19), 10-Q (filing date: 2014-08-20), 10-Q (filing date: 2014-05-21).

Solvency ratio Description The company
Debt to equity ratio A solvency ratio calculated as total debt divided by total shareholders’ equity. NVIDIA Corp.’s debt to equity ratio improved from Q2 2020 to Q3 2020 and from Q3 2020 to Q4 2020.
Debt to equity (including operating lease liability) ratio A solvency ratio calculated as total debt (including operating lease liability) divided by total shareholders’ equity. NVIDIA Corp.’s debt to equity ratio (including operating lease liability) improved from Q2 2020 to Q3 2020 and from Q3 2020 to Q4 2020.
Debt to capital ratio A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. NVIDIA Corp.’s debt to capital ratio improved from Q2 2020 to Q3 2020 and from Q3 2020 to Q4 2020.
Debt to capital (including operating lease liability) ratio A solvency ratio calculated as total debt (including operating lease liability) divided by total debt (including operating lease liability) plus shareholders’ equity. NVIDIA Corp.’s debt to capital ratio (including operating lease liability) improved from Q2 2020 to Q3 2020 and from Q3 2020 to Q4 2020.
Debt to assets ratio A solvency ratio calculated as total debt divided by total assets. NVIDIA Corp.’s debt to assets ratio improved from Q2 2020 to Q3 2020 and from Q3 2020 to Q4 2020.
Debt to assets (including operating lease liability) ratio A solvency ratio calculated as total debt (including operating lease liability) divided by total assets. NVIDIA Corp.’s debt to assets ratio (including operating lease liability) improved from Q2 2020 to Q3 2020 and from Q3 2020 to Q4 2020.
Financial leverage ratio A solvency ratio calculated as total assets divided by total shareholders’ equity. NVIDIA Corp.’s financial leverage ratio decreased from Q2 2020 to Q3 2020 but then slightly increased from Q3 2020 to Q4 2020.

Solvency ratio Description The company
Interest coverage ratio A solvency ratio calculated as EBIT divided by interest payments. NVIDIA Corp.’s interest coverage ratio deteriorated from Q2 2020 to Q3 2020 but then improved from Q3 2020 to Q4 2020 exceeding Q2 2020 level.

Debt to Equity

NVIDIA Corp., debt to equity calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Jan 26, 2020 Oct 27, 2019 Jul 28, 2019 Apr 28, 2019 Jan 27, 2019 Oct 28, 2018 Jul 29, 2018 Apr 29, 2018 Jan 28, 2018 Oct 29, 2017 Jul 30, 2017 Apr 30, 2017 Jan 29, 2017 Oct 30, 2016 Jul 31, 2016 May 1, 2016 Jan 31, 2016 Oct 25, 2015 Jul 26, 2015 Apr 26, 2015 Jan 25, 2015 Oct 26, 2014 Jul 27, 2014 Apr 27, 2014
Selected Financial Data (US$ in millions)
Convertible short-term debt —  —  —  —  —  14  14  15  23  84  215  796  1,011  1,428  1,421  1,413  —  —  —  —  —  —  — 
Long-term debt 1,991  1,990  1,989  1,988  1,988  1,987  1,987  1,986  1,985  1,985  1,984  1,984  1,983  1,982  —  —  —  —  —  —  —  —  —  — 
Convertible long-term debt —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  1,406  1,399  1,391  1,384  1,377  1,370  1,363 
Capital lease obligations, long-term —  —  —  —  —  —  —  —  —  10  11  12  13  14  15  16  17 
Total debt 1,991  1,990  1,989  1,988  1,988  1,990  2,001  2,000  2,000  2,009  2,071  2,203  2,785  3,000  1,436  1,430  1,423  1,417  1,411  1,404  1,398  1,392  1,386  1,380 
 
Shareholders’ equity 12,204  11,214  10,336  9,704  9,342  9,475  8,795  7,717  7,471  6,352  5,973  6,132  5,762  5,324  4,480  4,196  4,469  4,465  4,185  4,556  4,418  4,205  4,305  4,167 
Solvency Ratio
Debt to equity1 0.16 0.18 0.19 0.20 0.21 0.21 0.23 0.26 0.27 0.32 0.35 0.36 0.48 0.56 0.32 0.34 0.32 0.32 0.34 0.31 0.32 0.33 0.32 0.33
Benchmarks
Debt to Equity, Competitors2
Advanced Micro Devices Inc. 0.17 0.40 0.54 0.61 0.99 1.16 1.58 1.94 2.28 2.74 3.40 3.44 3.45 4.24 133.41
Apple Inc. 1.21 1.19 1.12 1.06 0.97 1.07 1.00 0.96 0.87 0.86 0.82 0.73 0.66 0.68 0.67 0.61 0.49 0.54 0.43 0.34 0.30
Applied Materials Inc. 0.61 0.65 0.65 0.65 0.65 0.78 0.78 0.75 0.62 0.57 0.61 0.67 0.43 0.46 0.49 0.51 0.47 0.60 0.24 0.23 0.24
Broadcom Inc. 1.84 1.32 1.75 1.69 1.62 0.66 0.64 0.55 0.68 0.87 0.69 0.70 0.71 0.72 0.70 0.76 0.77 0.84 0.93 1.21 1.52
Cisco Systems Inc. 0.45 0.54 0.73 0.64 0.63 0.58 0.59 0.60 0.76 0.55 0.51 0.50 0.55 0.55 0.45 0.46 0.40 0.41 0.42 0.36 0.36 0.37
Intel Corp. 0.37 0.39 0.38 0.39 0.35 0.39 0.40 0.41 0.39 0.45 0.47 0.39 0.38 0.44 0.47 0.41 0.37 0.37 0.23 0.24
Micron Technology Inc. 0.15 0.15 0.16 0.14 0.18 0.12 0.14 0.26 0.36 0.40 0.60 0.72 0.87 0.78 0.82 0.79 0.62 0.60 0.60 0.61 0.54 0.49
Qualcomm Inc. 3.53 3.25 3.01 4.24 4.53 17.64 0.97 0.97 0.95 0.71 0.70 0.38 0.37 0.37 0.38 0.40 0.36 0.35 0.33 0.03 0.00
Texas Instruments Inc. 0.65 0.65 0.68 0.68 0.56 0.48 0.48 0.38 0.39 0.33 0.33 0.32 0.34 0.35 0.36 0.42 0.41 0.41 0.48 0.45

Based on: 10-K (filing date: 2020-02-20), 10-Q (filing date: 2019-11-14), 10-Q (filing date: 2019-08-15), 10-Q (filing date: 2019-05-16), 10-K (filing date: 2019-02-21), 10-Q (filing date: 2018-11-15), 10-Q (filing date: 2018-08-16), 10-Q (filing date: 2018-05-22), 10-K (filing date: 2018-02-28), 10-Q (filing date: 2017-11-21), 10-Q (filing date: 2017-08-23), 10-Q (filing date: 2017-05-23), 10-K (filing date: 2017-03-01), 10-Q (filing date: 2016-11-22), 10-Q (filing date: 2016-08-23), 10-Q (filing date: 2016-05-25), 10-K (filing date: 2016-03-17), 10-Q (filing date: 2015-11-18), 10-Q (filing date: 2015-08-19), 10-Q (filing date: 2015-05-20), 10-K (filing date: 2015-03-12), 10-Q (filing date: 2014-11-19), 10-Q (filing date: 2014-08-20), 10-Q (filing date: 2014-05-21).

1 Q4 2020 Calculation
Debt to equity = Total debt ÷ Shareholders’ equity
= 1,991 ÷ 12,204 = 0.16

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.’s debt to equity ratio improved from Q2 2020 to Q3 2020 and from Q3 2020 to Q4 2020.

Debt to Equity (including Operating Lease Liability)

NVIDIA Corp., debt to equity (including operating lease liability) calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Jan 26, 2020 Oct 27, 2019 Jul 28, 2019 Apr 28, 2019 Jan 27, 2019 Oct 28, 2018 Jul 29, 2018 Apr 29, 2018 Jan 28, 2018 Oct 29, 2017 Jul 30, 2017 Apr 30, 2017 Jan 29, 2017 Oct 30, 2016 Jul 31, 2016 May 1, 2016 Jan 31, 2016 Oct 25, 2015 Jul 26, 2015 Apr 26, 2015 Jan 25, 2015 Oct 26, 2014 Jul 27, 2014 Apr 27, 2014
Selected Financial Data (US$ in millions)
Convertible short-term debt —  —  —  —  —  14  14  15  23  84  215  796  1,011  1,428  1,421  1,413  —  —  —  —  —  —  — 
Long-term debt 1,991  1,990  1,989  1,988  1,988  1,987  1,987  1,986  1,985  1,985  1,984  1,984  1,983  1,982  —  —  —  —  —  —  —  —  —  — 
Convertible long-term debt —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  1,406  1,399  1,391  1,384  1,377  1,370  1,363 
Capital lease obligations, long-term —  —  —  —  —  —  —  —  —  10  11  12  13  14  15  16  17 
Total debt 1,991  1,990  1,989  1,988  1,988  1,990  2,001  2,000  2,000  2,009  2,071  2,203  2,785  3,000  1,436  1,430  1,423  1,417  1,411  1,404  1,398  1,392  1,386  1,380 
Long-term operating lease liabilities 561  469  483  486  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  — 
Total debt (including operating lease liability) 2,552  2,459  2,472  2,474  1,988  1,990  2,001  2,000  2,000  2,009  2,071  2,203  2,785  3,000  1,436  1,430  1,423  1,417  1,411  1,404  1,398  1,392  1,386  1,380 
 
Shareholders’ equity 12,204  11,214  10,336  9,704  9,342  9,475  8,795  7,717  7,471  6,352  5,973  6,132  5,762  5,324  4,480  4,196  4,469  4,465  4,185  4,556  4,418  4,205  4,305  4,167 
Solvency Ratio
Debt to equity (including operating lease liability)1 0.21 0.22 0.24 0.25 0.21 0.21 0.23 0.26 0.27 0.32 0.35 0.36 0.48 0.56 0.32 0.34 0.32 0.32 0.34 0.31 0.32 0.33 0.32 0.33
Benchmarks
Debt to Equity (including Operating Lease Liability), Competitors2
Advanced Micro Devices Inc. 0.24 0.49 0.65 0.73 0.99 1.16 1.58 1.94 2.28 2.74 3.40 3.44 3.45 4.24 133.41
Micron Technology Inc. 0.16 0.17 0.16 0.14 0.18 0.12 0.14 0.26 0.36 0.40 0.60 0.72 0.87 0.78 0.82 0.79 0.62 0.60 0.60 0.61 0.54 0.49

Based on: 10-K (filing date: 2020-02-20), 10-Q (filing date: 2019-11-14), 10-Q (filing date: 2019-08-15), 10-Q (filing date: 2019-05-16), 10-K (filing date: 2019-02-21), 10-Q (filing date: 2018-11-15), 10-Q (filing date: 2018-08-16), 10-Q (filing date: 2018-05-22), 10-K (filing date: 2018-02-28), 10-Q (filing date: 2017-11-21), 10-Q (filing date: 2017-08-23), 10-Q (filing date: 2017-05-23), 10-K (filing date: 2017-03-01), 10-Q (filing date: 2016-11-22), 10-Q (filing date: 2016-08-23), 10-Q (filing date: 2016-05-25), 10-K (filing date: 2016-03-17), 10-Q (filing date: 2015-11-18), 10-Q (filing date: 2015-08-19), 10-Q (filing date: 2015-05-20), 10-K (filing date: 2015-03-12), 10-Q (filing date: 2014-11-19), 10-Q (filing date: 2014-08-20), 10-Q (filing date: 2014-05-21).

1 Q4 2020 Calculation
Debt to equity (including operating lease liability) = Total debt (including operating lease liability) ÷ Shareholders’ equity
= 2,552 ÷ 12,204 = 0.21

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to equity (including operating lease liability) ratio A solvency ratio calculated as total debt (including operating lease liability) divided by total shareholders’ equity. NVIDIA Corp.’s debt to equity ratio (including operating lease liability) improved from Q2 2020 to Q3 2020 and from Q3 2020 to Q4 2020.

Debt to Capital

NVIDIA Corp., debt to capital calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Jan 26, 2020 Oct 27, 2019 Jul 28, 2019 Apr 28, 2019 Jan 27, 2019 Oct 28, 2018 Jul 29, 2018 Apr 29, 2018 Jan 28, 2018 Oct 29, 2017 Jul 30, 2017 Apr 30, 2017 Jan 29, 2017 Oct 30, 2016 Jul 31, 2016 May 1, 2016 Jan 31, 2016 Oct 25, 2015 Jul 26, 2015 Apr 26, 2015 Jan 25, 2015 Oct 26, 2014 Jul 27, 2014 Apr 27, 2014
Selected Financial Data (US$ in millions)
Convertible short-term debt —  —  —  —  —  14  14  15  23  84  215  796  1,011  1,428  1,421  1,413  —  —  —  —  —  —  — 
Long-term debt 1,991  1,990  1,989  1,988  1,988  1,987  1,987  1,986  1,985  1,985  1,984  1,984  1,983  1,982  —  —  —  —  —  —  —  —  —  — 
Convertible long-term debt —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  1,406  1,399  1,391  1,384  1,377  1,370  1,363 
Capital lease obligations, long-term —  —  —  —  —  —  —  —  —  10  11  12  13  14  15  16  17 
Total debt 1,991  1,990  1,989  1,988  1,988  1,990  2,001  2,000  2,000  2,009  2,071  2,203  2,785  3,000  1,436  1,430  1,423  1,417  1,411  1,404  1,398  1,392  1,386  1,380 
Shareholders’ equity 12,204  11,214  10,336  9,704  9,342  9,475  8,795  7,717  7,471  6,352  5,973  6,132  5,762  5,324  4,480  4,196  4,469  4,465  4,185  4,556  4,418  4,205  4,305  4,167 
Total capital 14,195  13,204  12,325  11,692  11,330  11,465  10,796  9,717  9,471  8,361  8,044  8,335  8,547  8,324  5,916  5,626  5,892  5,882  5,596  5,960  5,816  5,597  5,691  5,547 
Solvency Ratio
Debt to capital1 0.14 0.15 0.16 0.17 0.18 0.17 0.19 0.21 0.21 0.24 0.26 0.26 0.33 0.36 0.24 0.25 0.24 0.24 0.25 0.24 0.24 0.25 0.24 0.25
Benchmarks
Debt to Capital, Competitors2
Advanced Micro Devices Inc. 0.15 0.29 0.35 0.38 0.50 0.54 0.61 0.66 0.70 0.73 0.77 0.77 0.78 0.81 1.23 1.29 1.22 1.17 1.07 0.99
Apple Inc. 0.55 0.54 0.53 0.52 0.49 0.52 0.50 0.49 0.47 0.46 0.45 0.42 0.40 0.40 0.40 0.38 0.33 0.35 0.30 0.25 0.23
Applied Materials Inc. 0.38 0.39 0.40 0.39 0.39 0.44 0.44 0.43 0.38 0.36 0.38 0.40 0.30 0.32 0.33 0.34 0.32 0.37 0.20 0.19 0.19
Broadcom Inc. 0.65 0.57 0.64 0.63 0.62 0.40 0.39 0.35 0.40 0.46 0.41 0.41 0.42 0.42 0.41 0.43 0.43 0.46 0.48 0.55 0.60
Cisco Systems Inc. 0.31 0.35 0.42 0.39 0.39 0.37 0.37 0.38 0.43 0.35 0.34 0.33 0.35 0.35 0.31 0.31 0.29 0.29 0.30 0.26 0.26 0.27
Intel Corp. 0.27 0.28 0.28 0.28 0.26 0.28 0.29 0.29 0.28 0.31 0.32 0.28 0.28 0.30 0.32 0.29 0.27 0.27 0.19 0.19
Micron Technology Inc. 0.13 0.13 0.14 0.12 0.15 0.11 0.13 0.20 0.27 0.29 0.37 0.42 0.47 0.44 0.45 0.44 0.38 0.37 0.37 0.38 0.35 0.33
Qualcomm Inc. 0.78 0.76 0.75 0.81 0.82 0.95 0.49 0.49 0.49 0.42 0.41 0.28 0.27 0.27 0.28 0.29 0.27 0.26 0.25 0.03 0.00
Texas Instruments Inc. 0.39 0.39 0.41 0.41 0.36 0.33 0.32 0.28 0.28 0.25 0.25 0.24 0.26 0.26 0.27 0.30 0.29 0.29 0.32 0.31

Based on: 10-K (filing date: 2020-02-20), 10-Q (filing date: 2019-11-14), 10-Q (filing date: 2019-08-15), 10-Q (filing date: 2019-05-16), 10-K (filing date: 2019-02-21), 10-Q (filing date: 2018-11-15), 10-Q (filing date: 2018-08-16), 10-Q (filing date: 2018-05-22), 10-K (filing date: 2018-02-28), 10-Q (filing date: 2017-11-21), 10-Q (filing date: 2017-08-23), 10-Q (filing date: 2017-05-23), 10-K (filing date: 2017-03-01), 10-Q (filing date: 2016-11-22), 10-Q (filing date: 2016-08-23), 10-Q (filing date: 2016-05-25), 10-K (filing date: 2016-03-17), 10-Q (filing date: 2015-11-18), 10-Q (filing date: 2015-08-19), 10-Q (filing date: 2015-05-20), 10-K (filing date: 2015-03-12), 10-Q (filing date: 2014-11-19), 10-Q (filing date: 2014-08-20), 10-Q (filing date: 2014-05-21).

1 Q4 2020 Calculation
Debt to capital = Total debt ÷ Total capital
= 1,991 ÷ 14,195 = 0.14

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.’s debt to capital ratio improved from Q2 2020 to Q3 2020 and from Q3 2020 to Q4 2020.

Debt to Capital (including Operating Lease Liability)

NVIDIA Corp., debt to capital (including operating lease liability) calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Jan 26, 2020 Oct 27, 2019 Jul 28, 2019 Apr 28, 2019 Jan 27, 2019 Oct 28, 2018 Jul 29, 2018 Apr 29, 2018 Jan 28, 2018 Oct 29, 2017 Jul 30, 2017 Apr 30, 2017 Jan 29, 2017 Oct 30, 2016 Jul 31, 2016 May 1, 2016 Jan 31, 2016 Oct 25, 2015 Jul 26, 2015 Apr 26, 2015 Jan 25, 2015 Oct 26, 2014 Jul 27, 2014 Apr 27, 2014
Selected Financial Data (US$ in millions)
Convertible short-term debt —  —  —  —  —  14  14  15  23  84  215  796  1,011  1,428  1,421  1,413  —  —  —  —  —  —  — 
Long-term debt 1,991  1,990  1,989  1,988  1,988  1,987  1,987  1,986  1,985  1,985  1,984  1,984  1,983  1,982  —  —  —  —  —  —  —  —  —  — 
Convertible long-term debt —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  1,406  1,399  1,391  1,384  1,377  1,370  1,363 
Capital lease obligations, long-term —  —  —  —  —  —  —  —  —  10  11  12  13  14  15  16  17 
Total debt 1,991  1,990  1,989  1,988  1,988  1,990  2,001  2,000  2,000  2,009  2,071  2,203  2,785  3,000  1,436  1,430  1,423  1,417  1,411  1,404  1,398  1,392  1,386  1,380 
Long-term operating lease liabilities 561  469  483  486  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  — 
Total debt (including operating lease liability) 2,552  2,459  2,472  2,474  1,988  1,990  2,001  2,000  2,000  2,009  2,071  2,203  2,785  3,000  1,436  1,430  1,423  1,417  1,411  1,404  1,398  1,392  1,386  1,380 
Shareholders’ equity 12,204  11,214  10,336  9,704  9,342  9,475  8,795  7,717  7,471  6,352  5,973  6,132  5,762  5,324  4,480  4,196  4,469  4,465  4,185  4,556  4,418  4,205  4,305  4,167 
Total capital (including operating lease liability) 14,756  13,673  12,808  12,178  11,330  11,465  10,796  9,717  9,471  8,361  8,044  8,335  8,547  8,324  5,916  5,626  5,892  5,882  5,596  5,960  5,816  5,597  5,691  5,547 
Solvency Ratio
Debt to capital (including operating lease liability)1 0.17 0.18 0.19 0.20 0.18 0.17 0.19 0.21 0.21 0.24 0.26 0.26 0.33 0.36 0.24 0.25 0.24 0.24 0.25 0.24 0.24 0.25 0.24 0.25
Benchmarks
Debt to Capital (including Operating Lease Liability), Competitors2
Advanced Micro Devices Inc. 0.20 0.33 0.40 0.42 0.50 0.54 0.61 0.66 0.70 0.73 0.77 0.77 0.78 0.81 1.23 1.29 1.22 1.17 1.07 0.99
Micron Technology Inc. 0.14 0.14 0.14 0.12 0.15 0.11 0.13 0.20 0.27 0.29 0.37 0.42 0.47 0.44 0.45 0.44 0.38 0.37 0.37 0.38 0.35 0.33

Based on: 10-K (filing date: 2020-02-20), 10-Q (filing date: 2019-11-14), 10-Q (filing date: 2019-08-15), 10-Q (filing date: 2019-05-16), 10-K (filing date: 2019-02-21), 10-Q (filing date: 2018-11-15), 10-Q (filing date: 2018-08-16), 10-Q (filing date: 2018-05-22), 10-K (filing date: 2018-02-28), 10-Q (filing date: 2017-11-21), 10-Q (filing date: 2017-08-23), 10-Q (filing date: 2017-05-23), 10-K (filing date: 2017-03-01), 10-Q (filing date: 2016-11-22), 10-Q (filing date: 2016-08-23), 10-Q (filing date: 2016-05-25), 10-K (filing date: 2016-03-17), 10-Q (filing date: 2015-11-18), 10-Q (filing date: 2015-08-19), 10-Q (filing date: 2015-05-20), 10-K (filing date: 2015-03-12), 10-Q (filing date: 2014-11-19), 10-Q (filing date: 2014-08-20), 10-Q (filing date: 2014-05-21).

1 Q4 2020 Calculation
Debt to capital (including operating lease liability) = Total debt (including operating lease liability) ÷ Total capital (including operating lease liability)
= 2,552 ÷ 14,756 = 0.17

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to capital (including operating lease liability) ratio A solvency ratio calculated as total debt (including operating lease liability) divided by total debt (including operating lease liability) plus shareholders’ equity. NVIDIA Corp.’s debt to capital ratio (including operating lease liability) improved from Q2 2020 to Q3 2020 and from Q3 2020 to Q4 2020.

Debt to Assets

NVIDIA Corp., debt to assets calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Jan 26, 2020 Oct 27, 2019 Jul 28, 2019 Apr 28, 2019 Jan 27, 2019 Oct 28, 2018 Jul 29, 2018 Apr 29, 2018 Jan 28, 2018 Oct 29, 2017 Jul 30, 2017 Apr 30, 2017 Jan 29, 2017 Oct 30, 2016 Jul 31, 2016 May 1, 2016 Jan 31, 2016 Oct 25, 2015 Jul 26, 2015 Apr 26, 2015 Jan 25, 2015 Oct 26, 2014 Jul 27, 2014 Apr 27, 2014
Selected Financial Data (US$ in millions)
Convertible short-term debt —  —  —  —  —  14  14  15  23  84  215  796  1,011  1,428  1,421  1,413  —  —  —  —  —  —  — 
Long-term debt 1,991  1,990  1,989  1,988  1,988  1,987  1,987  1,986  1,985  1,985  1,984  1,984  1,983  1,982  —  —  —  —  —  —  —  —  —  — 
Convertible long-term debt —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  1,406  1,399  1,391  1,384  1,377  1,370  1,363 
Capital lease obligations, long-term —  —  —  —  —  —  —  —  —  10  11  12  13  14  15  16  17 
Total debt 1,991  1,990  1,989  1,988  1,988  1,990  2,001  2,000  2,000  2,009  2,071  2,203  2,785  3,000  1,436  1,430  1,423  1,417  1,411  1,404  1,398  1,392  1,386  1,380 
 
Total assets 17,315  15,810  14,775  14,021  13,292  13,657  12,882  11,460  11,241  9,830  9,402  9,410  9,841  9,612  7,461  7,108  7,370  7,174  6,979  7,291  7,201  6,886  6,934  6,865 
Solvency Ratio
Debt to assets1 0.11 0.13 0.13 0.14 0.15 0.15 0.16 0.17 0.18 0.20 0.22 0.23 0.28 0.31 0.19 0.20 0.19 0.20 0.20 0.19 0.19 0.20 0.20 0.20
Benchmarks
Debt to Assets, Competitors2
Advanced Micro Devices Inc. 0.08 0.17 0.20 0.22 0.27 0.30 0.34 0.37 0.39 0.40 0.42 0.43 0.43 0.45 0.67 0.75 0.73 0.70 0.67 0.66
Apple Inc. 0.32 0.32 0.34 0.33 0.31 0.31 0.33 0.33 0.30 0.31 0.31 0.29 0.26 0.27 0.28 0.26 0.21 0.22 0.20 0.17 0.14
Applied Materials Inc. 0.27 0.28 0.28 0.28 0.28 0.30 0.30 0.29 0.27 0.27 0.28 0.30 0.22 0.23 0.24 0.26 0.25 0.30 0.15 0.14 0.15
Broadcom Inc. 0.55 0.49 0.54 0.53 0.52 0.35 0.35 0.32 0.32 0.32 0.27 0.27 0.27 0.27 0.28 0.29 0.37 0.37 0.40 0.47 0.51
Cisco Systems Inc. 0.18 0.20 0.25 0.24 0.25 0.24 0.24 0.25 0.30 0.28 0.26 0.26 0.28 0.28 0.24 0.24 0.22 0.22 0.22 0.20 0.20 0.20
Intel Corp. 0.21 0.22 0.22 0.22 0.21 0.22 0.22 0.22 0.22 0.25 0.26 0.22 0.22 0.25 0.26 0.24 0.22 0.21 0.15 0.15
Micron Technology Inc. 0.11 0.11 0.12 0.11 0.13 0.09 0.11 0.18 0.23 0.24 0.32 0.35 0.38 0.35 0.36 0.36 0.31 0.30 0.30 0.30 0.28 0.26
Qualcomm Inc. 0.48 0.48 0.48 0.48 0.48 0.50 0.36 0.36 0.36 0.33 0.34 0.21 0.22 0.22 0.23 0.24 0.22 0.22 0.21 0.02 0.00
Texas Instruments Inc. 0.32 0.32 0.33 0.33 0.30 0.27 0.27 0.23 0.23 0.21 0.22 0.21 0.22 0.22 0.23 0.26 0.25 0.25 0.28 0.27

Based on: 10-K (filing date: 2020-02-20), 10-Q (filing date: 2019-11-14), 10-Q (filing date: 2019-08-15), 10-Q (filing date: 2019-05-16), 10-K (filing date: 2019-02-21), 10-Q (filing date: 2018-11-15), 10-Q (filing date: 2018-08-16), 10-Q (filing date: 2018-05-22), 10-K (filing date: 2018-02-28), 10-Q (filing date: 2017-11-21), 10-Q (filing date: 2017-08-23), 10-Q (filing date: 2017-05-23), 10-K (filing date: 2017-03-01), 10-Q (filing date: 2016-11-22), 10-Q (filing date: 2016-08-23), 10-Q (filing date: 2016-05-25), 10-K (filing date: 2016-03-17), 10-Q (filing date: 2015-11-18), 10-Q (filing date: 2015-08-19), 10-Q (filing date: 2015-05-20), 10-K (filing date: 2015-03-12), 10-Q (filing date: 2014-11-19), 10-Q (filing date: 2014-08-20), 10-Q (filing date: 2014-05-21).

1 Q4 2020 Calculation
Debt to assets = Total debt ÷ Total assets
= 1,991 ÷ 17,315 = 0.11

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.’s debt to assets ratio improved from Q2 2020 to Q3 2020 and from Q3 2020 to Q4 2020.

Debt to Assets (including Operating Lease Liability)

NVIDIA Corp., debt to assets (including operating lease liability) calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Jan 26, 2020 Oct 27, 2019 Jul 28, 2019 Apr 28, 2019 Jan 27, 2019 Oct 28, 2018 Jul 29, 2018 Apr 29, 2018 Jan 28, 2018 Oct 29, 2017 Jul 30, 2017 Apr 30, 2017 Jan 29, 2017 Oct 30, 2016 Jul 31, 2016 May 1, 2016 Jan 31, 2016 Oct 25, 2015 Jul 26, 2015 Apr 26, 2015 Jan 25, 2015 Oct 26, 2014 Jul 27, 2014 Apr 27, 2014
Selected Financial Data (US$ in millions)
Convertible short-term debt —  —  —  —  —  14  14  15  23  84  215  796  1,011  1,428  1,421  1,413  —  —  —  —  —  —  — 
Long-term debt 1,991  1,990  1,989  1,988  1,988  1,987  1,987  1,986  1,985  1,985  1,984  1,984  1,983  1,982  —  —  —  —  —  —  —  —  —  — 
Convertible long-term debt —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  1,406  1,399  1,391  1,384  1,377  1,370  1,363 
Capital lease obligations, long-term —  —  —  —  —  —  —  —  —  10  11  12  13  14  15  16  17 
Total debt 1,991  1,990  1,989  1,988  1,988  1,990  2,001  2,000  2,000  2,009  2,071  2,203  2,785  3,000  1,436  1,430  1,423  1,417  1,411  1,404  1,398  1,392  1,386  1,380 
Long-term operating lease liabilities 561  469  483  486  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  — 
Total debt (including operating lease liability) 2,552  2,459  2,472  2,474  1,988  1,990  2,001  2,000  2,000  2,009  2,071  2,203  2,785  3,000  1,436  1,430  1,423  1,417  1,411  1,404  1,398  1,392  1,386  1,380 
 
Total assets 17,315  15,810  14,775  14,021  13,292  13,657  12,882  11,460  11,241  9,830  9,402  9,410  9,841  9,612  7,461  7,108  7,370  7,174  6,979  7,291  7,201  6,886  6,934  6,865 
Solvency Ratio
Debt to assets (including operating lease liability)1 0.15 0.16 0.17 0.18 0.15 0.15 0.16 0.17 0.18 0.20 0.22 0.23 0.28 0.31 0.19 0.20 0.19 0.20 0.20 0.19 0.19 0.20 0.20 0.20
Benchmarks
Debt to Assets (including Operating Lease Liability), Competitors2
Advanced Micro Devices Inc. 0.11 0.20 0.24 0.27 0.27 0.30 0.34 0.37 0.39 0.40 0.42 0.43 0.43 0.45 0.67 0.75 0.73 0.70 0.67 0.66
Micron Technology Inc. 0.12 0.12 0.12 0.11 0.13 0.09 0.11 0.18 0.23 0.24 0.32 0.35 0.38 0.35 0.36 0.36 0.31 0.30 0.30 0.30 0.28 0.26

Based on: 10-K (filing date: 2020-02-20), 10-Q (filing date: 2019-11-14), 10-Q (filing date: 2019-08-15), 10-Q (filing date: 2019-05-16), 10-K (filing date: 2019-02-21), 10-Q (filing date: 2018-11-15), 10-Q (filing date: 2018-08-16), 10-Q (filing date: 2018-05-22), 10-K (filing date: 2018-02-28), 10-Q (filing date: 2017-11-21), 10-Q (filing date: 2017-08-23), 10-Q (filing date: 2017-05-23), 10-K (filing date: 2017-03-01), 10-Q (filing date: 2016-11-22), 10-Q (filing date: 2016-08-23), 10-Q (filing date: 2016-05-25), 10-K (filing date: 2016-03-17), 10-Q (filing date: 2015-11-18), 10-Q (filing date: 2015-08-19), 10-Q (filing date: 2015-05-20), 10-K (filing date: 2015-03-12), 10-Q (filing date: 2014-11-19), 10-Q (filing date: 2014-08-20), 10-Q (filing date: 2014-05-21).

1 Q4 2020 Calculation
Debt to assets (including operating lease liability) = Total debt (including operating lease liability) ÷ Total assets
= 2,552 ÷ 17,315 = 0.15

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to assets (including operating lease liability) ratio A solvency ratio calculated as total debt (including operating lease liability) divided by total assets. NVIDIA Corp.’s debt to assets ratio (including operating lease liability) improved from Q2 2020 to Q3 2020 and from Q3 2020 to Q4 2020.

Financial Leverage

NVIDIA Corp., financial leverage calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Jan 26, 2020 Oct 27, 2019 Jul 28, 2019 Apr 28, 2019 Jan 27, 2019 Oct 28, 2018 Jul 29, 2018 Apr 29, 2018 Jan 28, 2018 Oct 29, 2017 Jul 30, 2017 Apr 30, 2017 Jan 29, 2017 Oct 30, 2016 Jul 31, 2016 May 1, 2016 Jan 31, 2016 Oct 25, 2015 Jul 26, 2015 Apr 26, 2015 Jan 25, 2015 Oct 26, 2014 Jul 27, 2014 Apr 27, 2014
Selected Financial Data (US$ in millions)
Total assets 17,315  15,810  14,775  14,021  13,292  13,657  12,882  11,460  11,241  9,830  9,402  9,410  9,841  9,612  7,461  7,108  7,370  7,174  6,979  7,291  7,201  6,886  6,934  6,865 
Shareholders’ equity 12,204  11,214  10,336  9,704  9,342  9,475  8,795  7,717  7,471  6,352  5,973  6,132  5,762  5,324  4,480  4,196  4,469  4,465  4,185  4,556  4,418  4,205  4,305  4,167 
Solvency Ratio
Financial leverage1 1.42 1.41 1.43 1.44 1.42 1.44 1.46 1.49 1.50 1.55 1.57 1.53 1.71 1.81 1.67 1.69 1.65 1.61 1.67 1.60 1.63 1.64 1.61 1.65
Benchmarks
Financial Leverage, Competitors2
Advanced Micro Devices Inc. 2.13 2.41 2.68 2.76 3.60 3.86 4.67 5.26 5.79 6.90 8.08 8.07 7.98 9.39 201.65
Apple Inc. 3.80 3.74 3.34 3.23 3.17 3.41 3.04 2.90 2.90 2.80 2.61 2.49 2.50 2.51 2.42 2.34 2.29 2.43 2.17 2.02 2.12
Applied Materials Inc. 2.28 2.32 2.32 2.29 2.31 2.60 2.62 2.63 2.31 2.08 2.19 2.22 1.98 2.02 2.01 1.99 1.86 2.01 1.65 1.63 1.62
Broadcom Inc. 3.32 2.71 3.24 3.20 3.10 1.88 1.83 1.71 2.11 2.68 2.52 2.57 2.61 2.64 2.55 2.61 2.10 2.25 2.33 2.59 2.95
Cisco Systems Inc. 2.54 2.69 2.91 2.64 2.51 2.40 2.52 2.44 2.53 1.99 1.96 1.93 1.98 1.99 1.91 1.90 1.85 1.86 1.90 1.81 1.82 1.83
Intel Corp. 1.76 1.80 1.74 1.76 1.72 1.79 1.80 1.83 1.79 1.79 1.78 1.73 1.71 1.78 1.79 1.72 1.69 1.73 1.57 1.63
Micron Technology Inc. 1.34 1.36 1.36 1.31 1.37 1.32 1.34 1.46 1.61 1.65 1.90 2.06 2.26 2.26 2.28 2.22 2.02 1.98 1.96 2.02 1.92 1.93
Qualcomm Inc. 7.34 6.71 6.25 8.80 9.47 35.22 2.69 2.69 2.69 2.13 2.06 1.79 1.68 1.65 1.66 1.69 1.66 1.62 1.58 1.25 1.25
Texas Instruments Inc. 2.02 2.00 2.05 2.05 1.91 1.77 1.74 1.65 1.71 1.54 1.54 1.50 1.57 1.58 1.58 1.60 1.63 1.66 1.72 1.67

Based on: 10-K (filing date: 2020-02-20), 10-Q (filing date: 2019-11-14), 10-Q (filing date: 2019-08-15), 10-Q (filing date: 2019-05-16), 10-K (filing date: 2019-02-21), 10-Q (filing date: 2018-11-15), 10-Q (filing date: 2018-08-16), 10-Q (filing date: 2018-05-22), 10-K (filing date: 2018-02-28), 10-Q (filing date: 2017-11-21), 10-Q (filing date: 2017-08-23), 10-Q (filing date: 2017-05-23), 10-K (filing date: 2017-03-01), 10-Q (filing date: 2016-11-22), 10-Q (filing date: 2016-08-23), 10-Q (filing date: 2016-05-25), 10-K (filing date: 2016-03-17), 10-Q (filing date: 2015-11-18), 10-Q (filing date: 2015-08-19), 10-Q (filing date: 2015-05-20), 10-K (filing date: 2015-03-12), 10-Q (filing date: 2014-11-19), 10-Q (filing date: 2014-08-20), 10-Q (filing date: 2014-05-21).

1 Q4 2020 Calculation
Financial leverage = Total assets ÷ Shareholders’ equity
= 17,315 ÷ 12,204 = 1.42

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.’s financial leverage ratio decreased from Q2 2020 to Q3 2020 but then slightly increased from Q3 2020 to Q4 2020.

Interest Coverage

NVIDIA Corp., interest coverage calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Jan 26, 2020 Oct 27, 2019 Jul 28, 2019 Apr 28, 2019 Jan 27, 2019 Oct 28, 2018 Jul 29, 2018 Apr 29, 2018 Jan 28, 2018 Oct 29, 2017 Jul 30, 2017 Apr 30, 2017 Jan 29, 2017 Oct 30, 2016 Jul 31, 2016 May 1, 2016 Jan 31, 2016 Oct 25, 2015 Jul 26, 2015 Apr 26, 2015 Jan 25, 2015 Oct 26, 2014 Jul 27, 2014 Apr 27, 2014
Selected Financial Data (US$ in millions)
Net income 951  899  552  394  566  1,230  1,101  1,244  1,119  838  583  507  655  542  261  208  208  246  26  134  193  173  128  137 
Add: Income tax expense 65  60  54  (5) (242) (149) 79  67  (39) 58  101  29  71  79  56  33  46  (1) 46  38  35  36  27  27 
Add: Interest expense 13  13  13  13  14  15  14  15  15  15  15  16  18  16  12  12  11  12  12  12  12  12  12  11 
Earnings before interest and tax (EBIT) 1,029  972  619  402  338  1,096  1,194  1,326  1,095  911  699  552  744  637  329  253  265  257  84  184  239  221  166  175 
Solvency Ratio
Interest coverage1 58.12 43.98 44.64 54.11 68.17 79.85 76.71 67.18 53.39 45.41 40.49 36.48 33.84 29.10 23.49 18.28 16.81 16.06 15.45 17.36 17.36
Benchmarks
Interest Coverage, Competitors2
Advanced Micro Devices Inc. 4.96 2.62 2.41 3.07 3.71 4.07 3.85 2.75 1.49 0.71 -2.81 -1.82 -1.94 -2.09 -0.86 -2.61 -3.04
Applied Materials Inc. 15.35 14.79 15.40 17.25 19.81 21.06 21.65 20.52 19.82 19.84 19.98 19.88 17.36 13.99 12.21 11.97 13.09 16.51 18.01 17.96 17.88
Broadcom Inc. 2.50 2.54 3.36 4.52 6.10 8.24 7.29 6.49 5.47 5.02 4.21 1.96 -1.02 -0.89 -0.65 0.60 7.83 8.68 7.10 4.51 4.38
Cisco Systems Inc. 20.36 18.58 17.96 17.45 16.58 16.05 14.83 14.42 14.61 14.69 15.27 16.26 16.99 18.81 20.11 20.32 21.38 21.44 20.79 20.76 19.82 17.94
Micron Technology Inc. 15.68 28.05 56.09 78.27 73.31 61.90 42.83 28.91 21.09 14.28 9.66 5.62 2.43 0.49 0.41 1.78 3.83 6.79 9.24 11.39 12.73 12.21
Qualcomm Inc. 13.71 12.93 9.89 3.10 2.46 1.67 3.38 3.51 4.70 7.11 12.19 16.46 20.15 24.01 22.05 24.51 34.33 63.38 221.21 4,294.00 9,320.00
Texas Instruments Inc. 34.69 38.11 42.03 47.50 54.49 62.21 71.95 77.84 78.95 80.30 75.92 69.88 62.63 56.08 50.87 47.96 47.84

Based on: 10-K (filing date: 2020-02-20), 10-Q (filing date: 2019-11-14), 10-Q (filing date: 2019-08-15), 10-Q (filing date: 2019-05-16), 10-K (filing date: 2019-02-21), 10-Q (filing date: 2018-11-15), 10-Q (filing date: 2018-08-16), 10-Q (filing date: 2018-05-22), 10-K (filing date: 2018-02-28), 10-Q (filing date: 2017-11-21), 10-Q (filing date: 2017-08-23), 10-Q (filing date: 2017-05-23), 10-K (filing date: 2017-03-01), 10-Q (filing date: 2016-11-22), 10-Q (filing date: 2016-08-23), 10-Q (filing date: 2016-05-25), 10-K (filing date: 2016-03-17), 10-Q (filing date: 2015-11-18), 10-Q (filing date: 2015-08-19), 10-Q (filing date: 2015-05-20), 10-K (filing date: 2015-03-12), 10-Q (filing date: 2014-11-19), 10-Q (filing date: 2014-08-20), 10-Q (filing date: 2014-05-21).

1 Q4 2020 Calculation
Interest coverage = (EBITQ4 2020 + EBITQ3 2020 + EBITQ2 2020 + EBITQ1 2020) ÷ (Interest expenseQ4 2020 + Interest expenseQ3 2020 + Interest expenseQ2 2020 + Interest expenseQ1 2020)
= (1,029 + 972 + 619 + 402) ÷ (13 + 13 + 13 + 13) = 58.12

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.’s interest coverage ratio deteriorated from Q2 2020 to Q3 2020 but then improved from Q3 2020 to Q4 2020 exceeding Q2 2020 level.