NVIDIA Corp (NVDA) FY2026 10-K Annual Report
NVIDIA Corp (NVDA) 10-K annual report for fiscal year 2026, filed with SEC EDGAR on Feb 25, 2026. This page provides AI-powered analysis including business overview, management discussion & analysis (MD&A), risk factors, and key financial data such as revenue, net income, gross margin, operating margin, and return on equity (ROE) extracted from XBRL.
NVIDIA Corp FY2026 10-K Analysis
Business Overview
- • Full-stack AI infrastructure company: GPUs, CPUs, DPUs, networking, and software (CUDA, NIM, NeMo) sold as rack-scale data center systems
- • FY2026 launches: Blackwell Ultra platform for agentic/reasoning/physical AI; NVLink Fusion enabling hyperscaler custom ASIC integration; Rubin platform unveiled (production shipments expected H2 FY2027, ~10x lower cost-per-token vs Blackwell)
Management Discussion & Analysis
- • Revenue $215.9B, up 65% YoY; Compute & Networking $193.5B (+66%), Graphics $22.5B (+57%)
- • Gross margin 71.1% vs 75.0%; operating margin 60.4% vs 62.4%; net margin 55.6% vs 55.8%
Risk Factors
- • Export controls (BIS/USG) caused $4.5B H20 charge in Q1 FY2026; NVIDIA now effectively foreclosed from China data center market
- • China antitrust regulators (Sept 15, 2025) preliminary finding that H20 export-control compliance violated Mellanox acquisition approval terms, risking financial penalties and business restrictions
NVIDIA Corp FY2026 Key Financial MetricsXBRL
Revenue
$215.9B
▲ +65.5% YoY
Net Income
$120.1B
▲ +64.7% YoY
Gross Margin
71.1%
▼ -392bp YoY
Operating Margin
60.4%
▼ -204bp YoY
Net Margin
55.6%
▼ -25bp YoY
ROE
76.3%
▼ -1554bp YoY
Total Assets
$206.8B
▲ +85.3% YoY
EPS (Diluted)
$4.90
▲ +66.7% YoY
Operating Cash Flow
$102.7B
▲ +60.3% YoY
Source: XBRL data from NVIDIA Corp FY2026 10-K filing on SEC EDGAR. All figures in USD.
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