Enterprise Value (EV)
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NVIDIA Corp. pages available for free this week:
- Income Statement
- Balance Sheet: Assets
- Common-Size Balance Sheet: Assets
- Analysis of Solvency Ratios
- Analysis of Long-term (Investment) Activity Ratios
- Enterprise Value to EBITDA (EV/EBITDA)
- Price to FCFE (P/FCFE)
- Total Asset Turnover since 2005
- Price to Operating Profit (P/OP) since 2005
- Analysis of Revenues
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Current Enterprise Value (EV)
NVIDIA Corp., current enterprise value calculation
| Current share price (P) | |
| No. shares of common stock outstanding | |
| US$ in millions | |
| Common equity (market value)1 | |
| Add: Preferred stock, $.001 par value; none issued (per books) | |
| Total equity | |
| Add: Short-term debt (per books) | |
| Add: Long-term debt (per books) | |
| Total equity and debt | |
| Less: Cash and cash equivalents | |
| Less: Marketable securities | |
| Enterprise value (EV) | |
Based on: 10-K (reporting date: 2025-01-26).
1 Common equity (market value) = Share price × No. shares of common stock outstanding
= ×
Historical Enterprise Value (EV)
NVIDIA Corp., EV calculation
Based on: 10-K (reporting date: 2025-01-26), 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).
1 Data adjusted for splits and stock dividends.
2 Closing price as at the filing date of NVIDIA Corp. Annual Report.
3 2025 Calculation
Common equity (market value) = Share price × No. shares of common stock outstanding
= ×
- Common Equity (Market Value) and Total Equity
- Both common equity (market value) and total equity demonstrate a pronounced upward trend over the six-year period. Starting at approximately 189 billion US dollars in early 2020, the value nearly doubled by January 2021 to around 340 billion, and continued to see substantial growth, peaking at about 3.2 trillion US dollars by January 2025. A notable decline is observed in early 2023, where the value dropped from its 2022 peak of roughly 664 billion to 575 billion, before resuming strong growth thereafter. This pattern suggests a period of volatility or adjustment in the equity market value in the early 2023 interval followed by recovery and aggressive expansion.
- Total Equity and Debt
- Total equity and debt values closely mirror the total equity figures, indicating limited additional debt relative to equity. The values rose from about 191 billion US dollars in 2020 to over 3.2 trillion US dollars by 2025. The trend reflects a similar decrease in early 2023, consistent with the decline in equity, and then a rapid increase into 2024 and 2025. This alignment signals that equity forms the predominant component of the capital structure, with debt playing a lesser role or remaining proportionally stable over time.
- Enterprise Value (EV)
- Enterprise value exhibits a pattern analogous to equity measures, starting around 180 billion US dollars in 2020, increasing significantly over the years, and reaching over 3.1 trillion by 2025. The dip in early 2023 is similarly evident here, where EV declined from approximately 654 billion in 2022 to 573 billion. This decline precedes a considerable recovery in subsequent years. The consistent close relationship between enterprise value and equity plus debt suggests stable valuation multiples and limited fluctuations in non-equity and non-debt components of enterprise value.
- Summary of Trends and Insights
- Overall, the financial data across all listed metrics indicates robust growth in market capitalization, equity, and enterprise value over the five-year period, with a temporary downturn in early 2023. This downturn signifies a period of market correction or external challenges before resurgence. The strong recovery and subsequent rapid growth imply renewed investor confidence and expansion in enterprise value. The close correlation between total equity and total equity plus debt emphasizes an equity-dominant capital structure with minimal variations in leverage.