Analysis of Long-term (Investment) Activity Ratios
Quarterly Data
Activity ratios measure how efficiently a company performs day-to-day tasks, such us the collection of receivables and management of inventory.
Paying user area
Try for free
NVIDIA Corp. pages available for free this week:
- Statement of Comprehensive Income
- Common-Size Income Statement
- Analysis of Solvency Ratios
- Analysis of Reportable Segments
- Capital Asset Pricing Model (CAPM)
- Selected Financial Data since 2005
- Operating Profit Margin since 2005
- Return on Assets (ROA) since 2005
- Current Ratio since 2005
- Price to Sales (P/S) since 2005
The data is hidden behind: . Unhide it.
Get full access to the entire website from $10.42/mo, or
get 1-month access to NVIDIA Corp. for $24.99.
This is a one-time payment. There is no automatic renewal.
We accept:
Long-term Activity Ratios (Summary)
NVIDIA Corp., long-term (investment) activity ratios (quarterly data)
Based on: 10-Q (reporting date: 2025-10-26), 10-Q (reporting date: 2025-07-27), 10-Q (reporting date: 2025-04-27), 10-K (reporting date: 2025-01-26), 10-Q (reporting date: 2024-10-27), 10-Q (reporting date: 2024-07-28), 10-Q (reporting date: 2024-04-28), 10-K (reporting date: 2024-01-28), 10-Q (reporting date: 2023-10-29), 10-Q (reporting date: 2023-07-30), 10-Q (reporting date: 2023-04-30), 10-K (reporting date: 2023-01-29), 10-Q (reporting date: 2022-10-30), 10-Q (reporting date: 2022-07-31), 10-Q (reporting date: 2022-05-01), 10-K (reporting date: 2022-01-30), 10-Q (reporting date: 2021-10-31), 10-Q (reporting date: 2021-08-01), 10-Q (reporting date: 2021-05-02), 10-K (reporting date: 2021-01-31), 10-Q (reporting date: 2020-10-25), 10-Q (reporting date: 2020-07-26), 10-Q (reporting date: 2020-04-26).
- Net Fixed Asset Turnover
- The net fixed asset turnover ratio exhibited an overall increasing trend over the time period analyzed. Starting from 6.87, the ratio rose steadily to a peak of 21.2 before stabilizing in the 18.07 to 20.81 range. This increase suggests an improving efficiency in generating revenue from fixed assets, with some volatility observed around mid-2022 when the ratio dipped before surging again towards late 2023 and early 2024. The sharp increase in the last periods indicates enhanced asset utilization or possibly changes in asset base or revenue generation capacity.
- Net Fixed Asset Turnover (Including Operating Lease, Right-of-Use Asset)
- This adjusted measure followed a similar ascending pattern as the traditional net fixed asset turnover, albeit at lower values, ranging from 5.1 to a high of 16.6. The ratio generally increased over time, reflecting improved efficiency including leased assets. Notable is a period of decline during late 2022 to early 2023, followed by a strong recovery and continued growth, peaking around mid-2024. This pattern mirrors the trends in net fixed asset turnover, affirming improvements in asset utilization encompassing both owned and leased assets.
- Total Asset Turnover
- Total asset turnover showed a gradual upward trend from 0.51 to approximately 1.19, indicating an increase in the company's ability to generate sales from its total asset base. The ratio experienced minor fluctuations but maintained consistent growth, notably accelerating after early 2023. This suggests overall improvements in asset efficiency, encompassing both fixed and current assets, with the ratio climbing to levels more than double compared to the starting point.
- Equity Turnover
- Equity turnover increased steadily from 0.9 to a peak of 1.77, showing enhanced effectiveness in utilizing equity to generate revenue. With some minor fluctuations, the general trend implies a strengthening capacity to leverage shareholder equity for revenue growth. The ratio reflects an improving balance between equity investment and sales generation, particularly notable from mid-2022 onward.
Net Fixed Asset Turnover
NVIDIA Corp., net fixed asset turnover calculation (quarterly data)
| Oct 26, 2025 | Jul 27, 2025 | Apr 27, 2025 | Jan 26, 2025 | Oct 27, 2024 | Jul 28, 2024 | Apr 28, 2024 | Jan 28, 2024 | Oct 29, 2023 | Jul 30, 2023 | Apr 30, 2023 | Jan 29, 2023 | Oct 30, 2022 | Jul 31, 2022 | May 1, 2022 | Jan 30, 2022 | Oct 31, 2021 | Aug 1, 2021 | May 2, 2021 | Jan 31, 2021 | Oct 25, 2020 | Jul 26, 2020 | Apr 26, 2020 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||||||
| Revenue | ||||||||||||||||||||||||||||||
| Property and equipment, net | ||||||||||||||||||||||||||||||
| Long-term Activity Ratio | ||||||||||||||||||||||||||||||
| Net fixed asset turnover1 | ||||||||||||||||||||||||||||||
| Benchmarks | ||||||||||||||||||||||||||||||
| Net Fixed Asset Turnover, Competitors2 | ||||||||||||||||||||||||||||||
| Advanced Micro Devices Inc. | ||||||||||||||||||||||||||||||
| Analog Devices Inc. | ||||||||||||||||||||||||||||||
| Applied Materials Inc. | ||||||||||||||||||||||||||||||
| Broadcom Inc. | ||||||||||||||||||||||||||||||
| Intel Corp. | ||||||||||||||||||||||||||||||
| KLA Corp. | ||||||||||||||||||||||||||||||
| Lam Research Corp. | ||||||||||||||||||||||||||||||
| Micron Technology Inc. | ||||||||||||||||||||||||||||||
| Qualcomm Inc. | ||||||||||||||||||||||||||||||
| Texas Instruments Inc. | ||||||||||||||||||||||||||||||
Based on: 10-Q (reporting date: 2025-10-26), 10-Q (reporting date: 2025-07-27), 10-Q (reporting date: 2025-04-27), 10-K (reporting date: 2025-01-26), 10-Q (reporting date: 2024-10-27), 10-Q (reporting date: 2024-07-28), 10-Q (reporting date: 2024-04-28), 10-K (reporting date: 2024-01-28), 10-Q (reporting date: 2023-10-29), 10-Q (reporting date: 2023-07-30), 10-Q (reporting date: 2023-04-30), 10-K (reporting date: 2023-01-29), 10-Q (reporting date: 2022-10-30), 10-Q (reporting date: 2022-07-31), 10-Q (reporting date: 2022-05-01), 10-K (reporting date: 2022-01-30), 10-Q (reporting date: 2021-10-31), 10-Q (reporting date: 2021-08-01), 10-Q (reporting date: 2021-05-02), 10-K (reporting date: 2021-01-31), 10-Q (reporting date: 2020-10-25), 10-Q (reporting date: 2020-07-26), 10-Q (reporting date: 2020-04-26).
1 Q3 2026 Calculation
Net fixed asset turnover
= (RevenueQ3 2026
+ RevenueQ2 2026
+ RevenueQ1 2026
+ RevenueQ4 2025)
÷ Property and equipment, net
= ( + + + )
÷ =
2 Click competitor name to see calculations.
- Revenue Trends
- The revenue shows a strong upward trajectory over the reported periods. Starting at $3,080 million in April 2020, it experienced consistent growth through early 2022, peaking at $8,288 million in May 2022. Despite a notable dip to $5,931 million in October 2022, revenue rebounded sharply afterward, reaching $13,507 million by July 2023. The subsequent quarters exhibit an accelerated increase, with revenue climbing to $57,006 million by October 2025. This pattern indicates robust overall growth with some volatility in late 2022.
- Property and Equipment, Net
- This asset category displays steady growth from $1,715 million in April 2020 to $3,807 million in January 2023, with moderate fluctuations thereafter. After plateauing mid-2023, the net property and equipment value surged from $4,006 million in April 2024 to $9,780 million by October 2025. The increase in this asset base suggests substantial capital investment aligned with expansion initiatives.
- Net Fixed Asset Turnover Ratio
- The net fixed asset turnover ratio, reflecting efficiency in using fixed assets to generate revenue, started at 6.87 in April 2020. It generally improved, peaking at 10.13 in May 2022. However, the ratio then declined to around 6.92 by April 2023, indicating a period of reduced asset utilization efficiency. A significant recovery followed, with the ratio soaring to 21.20 in May 2024 and maintaining elevated levels above 18 through October 2025. This suggests improved operational efficiency and enhanced revenue generation relative to fixed asset investments in the later periods.
- Overall Insights
- The company demonstrates a strong growth profile with increasing revenues and expanding asset base. The temporary revenue decline in late 2022 corresponds with a slight dip in asset turnover efficiency, possibly reflecting transitional challenges. The subsequent rapid increases in both revenue and asset turnover ratio from mid-2023 onward indicate effective management of assets and successful scaling of operations. The substantial capital expenditures on property and equipment in the later periods appear to support this growth trajectory.
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset)
NVIDIA Corp., net fixed asset turnover (including operating lease, right-of-use asset) calculation (quarterly data)
| Oct 26, 2025 | Jul 27, 2025 | Apr 27, 2025 | Jan 26, 2025 | Oct 27, 2024 | Jul 28, 2024 | Apr 28, 2024 | Jan 28, 2024 | Oct 29, 2023 | Jul 30, 2023 | Apr 30, 2023 | Jan 29, 2023 | Oct 30, 2022 | Jul 31, 2022 | May 1, 2022 | Jan 30, 2022 | Oct 31, 2021 | Aug 1, 2021 | May 2, 2021 | Jan 31, 2021 | Oct 25, 2020 | Jul 26, 2020 | Apr 26, 2020 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||||||
| Revenue | ||||||||||||||||||||||||||||||
| Property and equipment, net | ||||||||||||||||||||||||||||||
| Operating lease assets | ||||||||||||||||||||||||||||||
| Property and equipment, net (including operating lease, right-of-use asset) | ||||||||||||||||||||||||||||||
| Long-term Activity Ratio | ||||||||||||||||||||||||||||||
| Net fixed asset turnover (including operating lease, right-of-use asset)1 | ||||||||||||||||||||||||||||||
| Benchmarks | ||||||||||||||||||||||||||||||
| Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Competitors2 | ||||||||||||||||||||||||||||||
| Micron Technology Inc. | ||||||||||||||||||||||||||||||
Based on: 10-Q (reporting date: 2025-10-26), 10-Q (reporting date: 2025-07-27), 10-Q (reporting date: 2025-04-27), 10-K (reporting date: 2025-01-26), 10-Q (reporting date: 2024-10-27), 10-Q (reporting date: 2024-07-28), 10-Q (reporting date: 2024-04-28), 10-K (reporting date: 2024-01-28), 10-Q (reporting date: 2023-10-29), 10-Q (reporting date: 2023-07-30), 10-Q (reporting date: 2023-04-30), 10-K (reporting date: 2023-01-29), 10-Q (reporting date: 2022-10-30), 10-Q (reporting date: 2022-07-31), 10-Q (reporting date: 2022-05-01), 10-K (reporting date: 2022-01-30), 10-Q (reporting date: 2021-10-31), 10-Q (reporting date: 2021-08-01), 10-Q (reporting date: 2021-05-02), 10-K (reporting date: 2021-01-31), 10-Q (reporting date: 2020-10-25), 10-Q (reporting date: 2020-07-26), 10-Q (reporting date: 2020-04-26).
1 Q3 2026 Calculation
Net fixed asset turnover (including operating lease, right-of-use asset)
= (RevenueQ3 2026
+ RevenueQ2 2026
+ RevenueQ1 2026
+ RevenueQ4 2025)
÷ Property and equipment, net (including operating lease, right-of-use asset)
= ( + + + )
÷ =
2 Click competitor name to see calculations.
- Revenue Trends
- Revenue demonstrates a consistent upward trajectory across the observed periods, reflecting robust growth. Starting at approximately $3.08 billion in April 2020, revenue increased steadily to reach around $7.64 billion by January 2022. A notable surge occurs from April 2023 onwards, where revenue escalates sharply from $7.19 billion to a peak exceeding $57 billion by October 2025. This sharp increase in recent periods suggests significant expansion, likely driven by increased sales or market demand.
- Property and Equipment, Net Trends
- The net value of property and equipment shows a continuous increase over time, progressing from about $2.31 billion in April 2020 to $12.06 billion by October 2025. This upward trend indicates ongoing investments in fixed assets, which may support expanding operations or capacity enhancements. Notably, the growth in property and equipment is steady without abrupt fluctuations, suggesting planned capital expenditure rather than reactive spending.
- Net Fixed Asset Turnover Ratio Trends
- The net fixed asset turnover ratio exhibits variation but generally trends upward across the periods analyzed. Initially, it remains in the range of approximately 5.1 to 7.8, reflecting moderate efficiency in utilizing fixed assets to generate revenue. From April 2023 onward, the ratio increases significantly, reaching values above 15 in the final recorded quarters. This increase implies improved asset utilization efficiency, indicating that revenue growth outpaces the accumulation of fixed assets in recent periods. The slight fluctuations at the end may reflect adjustments in asset deployment or changes in revenue momentum.
- Overall Insights
- The financial data indicates strong growth dynamics for the company, characterized by rapidly expanding revenue supported by steady increases in property and equipment investments. The significant rise in net fixed asset turnover ratio over the later periods highlights enhanced operational efficiency in leveraging fixed assets to drive revenue. These patterns together suggest a strategic scaling of operations combined with effective asset management, contributing to the company's accelerating financial performance. Continued monitoring of fixed asset investments relative to revenue will be important to sustain this growth trend.
Total Asset Turnover
NVIDIA Corp., total asset turnover calculation (quarterly data)
| Oct 26, 2025 | Jul 27, 2025 | Apr 27, 2025 | Jan 26, 2025 | Oct 27, 2024 | Jul 28, 2024 | Apr 28, 2024 | Jan 28, 2024 | Oct 29, 2023 | Jul 30, 2023 | Apr 30, 2023 | Jan 29, 2023 | Oct 30, 2022 | Jul 31, 2022 | May 1, 2022 | Jan 30, 2022 | Oct 31, 2021 | Aug 1, 2021 | May 2, 2021 | Jan 31, 2021 | Oct 25, 2020 | Jul 26, 2020 | Apr 26, 2020 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||||||
| Revenue | ||||||||||||||||||||||||||||||
| Total assets | ||||||||||||||||||||||||||||||
| Long-term Activity Ratio | ||||||||||||||||||||||||||||||
| Total asset turnover1 | ||||||||||||||||||||||||||||||
| Benchmarks | ||||||||||||||||||||||||||||||
| Total Asset Turnover, Competitors2 | ||||||||||||||||||||||||||||||
| Advanced Micro Devices Inc. | ||||||||||||||||||||||||||||||
| Analog Devices Inc. | ||||||||||||||||||||||||||||||
| Applied Materials Inc. | ||||||||||||||||||||||||||||||
| Broadcom Inc. | ||||||||||||||||||||||||||||||
| Intel Corp. | ||||||||||||||||||||||||||||||
| KLA Corp. | ||||||||||||||||||||||||||||||
| Lam Research Corp. | ||||||||||||||||||||||||||||||
| Micron Technology Inc. | ||||||||||||||||||||||||||||||
| Qualcomm Inc. | ||||||||||||||||||||||||||||||
| Texas Instruments Inc. | ||||||||||||||||||||||||||||||
Based on: 10-Q (reporting date: 2025-10-26), 10-Q (reporting date: 2025-07-27), 10-Q (reporting date: 2025-04-27), 10-K (reporting date: 2025-01-26), 10-Q (reporting date: 2024-10-27), 10-Q (reporting date: 2024-07-28), 10-Q (reporting date: 2024-04-28), 10-K (reporting date: 2024-01-28), 10-Q (reporting date: 2023-10-29), 10-Q (reporting date: 2023-07-30), 10-Q (reporting date: 2023-04-30), 10-K (reporting date: 2023-01-29), 10-Q (reporting date: 2022-10-30), 10-Q (reporting date: 2022-07-31), 10-Q (reporting date: 2022-05-01), 10-K (reporting date: 2022-01-30), 10-Q (reporting date: 2021-10-31), 10-Q (reporting date: 2021-08-01), 10-Q (reporting date: 2021-05-02), 10-K (reporting date: 2021-01-31), 10-Q (reporting date: 2020-10-25), 10-Q (reporting date: 2020-07-26), 10-Q (reporting date: 2020-04-26).
1 Q3 2026 Calculation
Total asset turnover
= (RevenueQ3 2026
+ RevenueQ2 2026
+ RevenueQ1 2026
+ RevenueQ4 2025)
÷ Total assets
= ( + + + )
÷ =
2 Click competitor name to see calculations.
- Revenue Trend
- Revenue demonstrates a consistent upward trajectory over the observed periods. Starting at approximately $3.08 billion, there is a steady increase throughout, with a few minor fluctuations. Notably, revenue jumps significantly from around $7.19 billion to $13.51 billion between April 2023 and July 2023, continuing to rise sharply afterwards and reaching over $57 billion in the last reported period. This substantial growth in recent periods indicates a strong demand or successful business expansion.
- Total Assets Trend
- Total assets also show a consistent increase over the quarters. Beginning at about $23.25 billion, assets gradually increase with a noticeable acceleration starting in early 2023, rising by more than $10 billion between January 2024 and July 2024, eventually reaching approximately $161 billion by the final quarter reported. This indicates ongoing investments and asset accumulation likely supporting revenue growth.
- Total Asset Turnover Ratio Analysis
- The total asset turnover ratio displays an initial moderate level, around 0.50-0.65, with some variability in the middle periods where it dips slightly but remains above 0.50. Starting in April 2023, this ratio improves markedly, climbing from 0.58 to over 1.18 by January 2025, then slightly stabilizing around 1.16 in the last quarter. This upward trend suggests more efficient use of assets to generate revenue, particularly in the later periods where asset growth is matched by even greater revenue increases.
- Overall Insights
- The financial data reveals a company experiencing significant growth across key financial metrics such as revenue and total assets. The increase in total asset turnover ratio in later periods is a positive sign, indicating improved operational efficiency despite the rapid asset growth. The sharp revenue increases, especially after April 2023, imply successful strategic initiatives or market expansion. The simultaneous growth in assets suggests ongoing investments to support this expansion. Together, these trends reflect a phase of accelerated growth and enhanced asset utilization.
Equity Turnover
NVIDIA Corp., equity turnover calculation (quarterly data)
| Oct 26, 2025 | Jul 27, 2025 | Apr 27, 2025 | Jan 26, 2025 | Oct 27, 2024 | Jul 28, 2024 | Apr 28, 2024 | Jan 28, 2024 | Oct 29, 2023 | Jul 30, 2023 | Apr 30, 2023 | Jan 29, 2023 | Oct 30, 2022 | Jul 31, 2022 | May 1, 2022 | Jan 30, 2022 | Oct 31, 2021 | Aug 1, 2021 | May 2, 2021 | Jan 31, 2021 | Oct 25, 2020 | Jul 26, 2020 | Apr 26, 2020 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||||||
| Revenue | ||||||||||||||||||||||||||||||
| Shareholders’ equity | ||||||||||||||||||||||||||||||
| Long-term Activity Ratio | ||||||||||||||||||||||||||||||
| Equity turnover1 | ||||||||||||||||||||||||||||||
| Benchmarks | ||||||||||||||||||||||||||||||
| Equity Turnover, Competitors2 | ||||||||||||||||||||||||||||||
| Advanced Micro Devices Inc. | ||||||||||||||||||||||||||||||
| Analog Devices Inc. | ||||||||||||||||||||||||||||||
| Applied Materials Inc. | ||||||||||||||||||||||||||||||
| Broadcom Inc. | ||||||||||||||||||||||||||||||
| Intel Corp. | ||||||||||||||||||||||||||||||
| KLA Corp. | ||||||||||||||||||||||||||||||
| Lam Research Corp. | ||||||||||||||||||||||||||||||
| Micron Technology Inc. | ||||||||||||||||||||||||||||||
| Qualcomm Inc. | ||||||||||||||||||||||||||||||
| Texas Instruments Inc. | ||||||||||||||||||||||||||||||
Based on: 10-Q (reporting date: 2025-10-26), 10-Q (reporting date: 2025-07-27), 10-Q (reporting date: 2025-04-27), 10-K (reporting date: 2025-01-26), 10-Q (reporting date: 2024-10-27), 10-Q (reporting date: 2024-07-28), 10-Q (reporting date: 2024-04-28), 10-K (reporting date: 2024-01-28), 10-Q (reporting date: 2023-10-29), 10-Q (reporting date: 2023-07-30), 10-Q (reporting date: 2023-04-30), 10-K (reporting date: 2023-01-29), 10-Q (reporting date: 2022-10-30), 10-Q (reporting date: 2022-07-31), 10-Q (reporting date: 2022-05-01), 10-K (reporting date: 2022-01-30), 10-Q (reporting date: 2021-10-31), 10-Q (reporting date: 2021-08-01), 10-Q (reporting date: 2021-05-02), 10-K (reporting date: 2021-01-31), 10-Q (reporting date: 2020-10-25), 10-Q (reporting date: 2020-07-26), 10-Q (reporting date: 2020-04-26).
1 Q3 2026 Calculation
Equity turnover
= (RevenueQ3 2026
+ RevenueQ2 2026
+ RevenueQ1 2026
+ RevenueQ4 2025)
÷ Shareholders’ equity
= ( + + + )
÷ =
2 Click competitor name to see calculations.
- Revenue Trend
- Revenue shows a consistent upward trajectory over the long term, starting from approximately $3.08 billion and rising to over $57 billion. This growth is particularly rapid from mid-2022 onward, with substantial jumps noted, such as between July 2023 and January 2024, where revenue more than doubled. Despite some fluctuations in mid-2022, the overall pattern reflects strong expansion and increasing sales performance over the periods analyzed.
- Shareholders’ Equity Trend
- Shareholders’ equity demonstrates steady growth, increasing from about $13.1 billion to nearly $119 billion across the timeline. The increments generally correspond with the revenue increases, suggesting reinvestment of earnings or capital inflows supporting asset base growth. Notable acceleration in equity growth is observed from mid-2023 onward, paralleling the increase in revenue, which may indicate a strengthening financial position and retained earnings accumulation.
- Equity Turnover Ratio Trend
- The equity turnover ratio fluctuates slightly but exhibits an overall rising trend, increasing from around 0.9 to a peak close to 1.77 before a slight downward move towards the latest periods. This increasing ratio indicates improving efficiency in utilizing equity to generate revenue. The peak values above 1.6 in the more recent periods highlight effective capital deployment, though the slight dip suggests marginally less efficiency in the latest quarters compared to the immediate previous ones.
- Insights
- The combined trends of increasing revenue and shareholders’ equity, accompanied by a generally rising equity turnover ratio, point to a strong operational and financial performance over the periods analyzed. The company has been able to scale its revenue substantially while growing its equity base, maintaining and improving the efficiency at which equity capital is converted into sales. Fluctuations in the equity turnover ratio towards the end of the timeline warrant monitoring, as they may indicate periods of adjustment in capital utilization or revenue generation dynamics.