NVIDIA earned $59.7bn last quarter. It collected $24.1bn.
NVIDIA's second quarter turned $59,688m of net income into $24,077m of operating cash. The filing names the gap: receivables, inventory and a non-cash mark-up.
5 primary sourcesTicker · 6 articles
NVDA
Every article on this page was built from the company's own filings. The documents they were read from are listed below, so you can check any figure yourself.
Last checked Aug 27, 2026All companies
Five ways to fund AI. Only two create interest expense
In 22 days, four companies raised $52.35bn for AI capacity using five different instruments. Where each one lands on the financial statements is not the same.
6 primary sourcesInventory rose while sales fell at 66 US companies
Revenue fell and inventory rose at 66 large US filers in fiscal 2025. Whether that is a warning depends on how much of the pile is finished goods.
5 primary sourcesAMD tripled its long-term debt in one day, at 4.6% to 5.5%
A $4.75bn note sale on 17 August takes AMD's long-term debt from $2.35bn to about $7.1bn and adds $240m of annual interest to a company that was barely a borrower.
6 primary sourcesNVIDIA guaranteed $105 billion of leases. OpenAI is the tenant.
A 17 August filing shows NVIDIA backstopping 4.25 gigawatts of Ohio data-centre leases. If OpenAI cannot pay, NVIDIA covers the shortfall — from 2028, for 20 years.
6 primary sourcesWhy Fabrinet fell 19%: Nvidia's share of it halved
Revenue up 35.7%, net income up 42.3%, guidance raised — and the stock fell 19%. In the 10-K, the biggest customer shrank in dollars and free cash flow vanished.
5 primary sourcesFigures we worked out for NVDA
Not a data feed. Each of these was calculated inside one of the articles above, from the filings listed at the bottom of this page. The arithmetic is shown so you can redo it — and it is re-run every time this site is built.
| Figure | Value | Arithmetic |
|---|---|---|
| NVIDIA earned $59.7bn last quarter. It collected $24.1bn. | ||
| Gap between net income and operating cash flow | $35,611m | 59688 - 24077 |
| Operating cash flow per dollar of net income, Q2 | 0.40× | 24077 / 59688 |
| Operating cash flow per dollar of net income, Q1 | 0.86× | 50344 / 58321 |
| Operating cash flow, quarter on quarter | −52.2% | 24077 / 50344 - 1 |
| Free cash flow, quarter on quarter | −56.0% | 21341 / 48554 - 1 |
| Revenue, quarter on quarter | +17.9% | 96221 / 81615 - 1 |
| Cash flow bridge, net income to operating cash flow | $24,077m | 59688 + 2027 + 1127 - 602 - 7771 + 315 - 22346 - 5784 - 5497 + 1915 + 252 + 753 |
| Working capital drain in the quarter | −$30,707m | -22346 - 5784 - 5497 + 1915 + 252 + 753 |
| Receivables build per dollar of sequential revenue growth | 1.53× | 22346 / (96221 - 81615) |
| Days sales outstanding, checked against the balance sheet | 59.64 days | 63059 / 96221 * 91 |
| Accounts receivable growth since 25 January 2026 | +63.9% | 63059 / 38466 - 1 |
| Equity-securities gains as a share of first-half net income | +20.1% | 23707 / 118010 |
| GAAP diluted EPS premium over non-GAAP | +10.8% | 2.46 / 2.22 - 1 |
| Equity holdings, marketable plus non-marketable, 26 July | $93,940m | 42783 + 51157 |
| Equity holdings growth in six months | +167.4% | (42783 + 51157) / (12886 + 22251) - 1 |
| The seven new note tranches sum to the stated total | $25,000m | 3500 + 3500 + 4000 + 3500 + 4000 + 3000 + 3500 |
| Weighted average stated coupon on the new notes, percent | 4.83% | (3500*4.25 + 3500*4.35 + 4000*4.50 + 3500*4.75 + 4000*4.95 + 3000*5.55 + 3500*5.625) / 25000 |
| Annual interest at that coupon, $m | $1,209m | 25000 * 0.048345 |
| Total debt carrying value growth since 25 January | +294.0% | 33366 / 8468 - 1 |
| Supply and capacity commitments, this quarter against last | 2.34× | 279 / 119 |
| Capital returned in the quarter, buybacks plus dividends | $25,779m | 19732 + 6047 |
| October-quarter revenue guidance against the quarter reported | +12.2% | 108000 / 96221 - 1 |
| Inventory rose while sales fell at 66 US companies | ||
| NVIDIA days of inventory, fiscal 2025 | 125 days | 21403000000 / 62475000000 * 365 |
| NVIDIA guaranteed $105 billion of leases. OpenAI is the tenant. | ||
| Guaranty against cash and marketable debt securities | 2.09× | 105000 / 50335 |
| Guaranty against the year to January 2026 revenue | +48.6% | 105000 / 215938 |
| Guaranty against stockholders' equity | +53.7% | 105000 / 195474 |
| NVIDIA market value at the 20 August close | $5,289,188m | 216.85 * 24391 |
| Guaranty against market value | +2.0% | 105000 / (216.85 * 24391) |
| Total capacity if the option is exercised | 8.05 GW | 4.25 + 3.8 |
| Close-to-close reaction on 18 August | −2.3% | 219.74 / 225.01 - 1 |
| Move from before the announcement to 20 August | −3.6% | 216.85 / 225.01 - 1 |
31 figures from 3 articles. Totals and industry averages that belong to no single company are not listed here.
Primary sources used
- NVIDIA Corporation — Form 8-K, filed 26 August 2026Items 2.02 and 9.01 — the results announcement that carries the two exhibits below
- NVIDIA Corporation — Exhibit 99.1, second quarter fiscal 2027 resultsIncome statement, balance sheet, cash flow statement, GAAP to non-GAAP reconciliation and the third-quarter outlook
- NVIDIA Corporation — Exhibit 99.2, CFO commentarySegment and platform revenue, the 45-to-60 day DSO statement, and the commitments and guarantees tables
- NVIDIA Corporation — Form 10-Q for the quarter ended 26 July 2026Note 9 (debt, tranche by tranche), the equity-method and VIE disclosure, deferred revenue additions and customer concentration
- NVIDIA Corporation — SEC EDGAR filing historyHow this filing was found — 8-K Item 2.02 is the results item, and it was the first since 24 August
- Alphabet Inc — prospectus supplement, 6 August 2026 (424B5)Nine tranches, $25.0bn total, 4.500% 2028 through 6.500% 2066
- Intel Corporation — prospectus supplement, 12 August 2026 (424B5)210,526,315 shares at $95.00 · gross $20.0bn · proceeds before expenses $19.67bn
- CoreWeave, Inc — Form 8-K, 10 August 2026 (Items 1.01 and 2.03)$2.6bn delayed draw term loan · Term SOFR + 5.50% · matures 1 September 2031
- Core Scientific, Inc — Form 8-K, 28 July 2026 (Items 3.02 and 7.01)Warrant to AMD for 30m shares at $23.47 · 529 MW leased · 12,222 shares vest per MW
- Equinix, Inc — Form 8-K, 29 July 2026 (Items 1.01 and 2.03)$5.5bn revolving facility — excluded here as capacity rather than drawn borrowing
- SOFR — Federal Reserve Bank of New York via FRED3.65% on 21 August 2026 · the floating base under CoreWeave's facility
- SEC XBRL frames API — InventoryNet, CY2025Q4I2,468 filers reported this tag · retrieved 25 August 2026
- SEC XBRL frames API — RevenueFromContractWithCustomerExcludingAssessedTax, CY2025Primary revenue tag; Revenues used as fallback where absent
- Alkermes plc — SEC EDGAR filing history (CIK 0001520262)Inventory $196.6m against cost of goods sold $196.5m
- Illumina Inc — SEC EDGAR filing history (CIK 0001110803)Finished goods $45m of $564m total inventory
- Alamo Group Inc — SEC EDGAR filing history (CIK 0000897077)Finished goods $353.9m of $383.3m total inventory
- Advanced Micro Devices — Form 8-K, filed August 17 2026Items 1.01 and 2.03 · all four tranches, coupons, maturities, offering prices and use of proceeds
- SEC company concept API — AMD, LongTermDebtNoncurrent$2,351M at 27 June 2026, and the four quarters before it
- SEC company concept API — AMD, OperatingIncomeLossOperating income of $1,990M in the June 2026 quarter against −$134M a year earlier
- SEC company concept API — AMD, CashAndCashEquivalentsAtCarryingValue$5,086M of cash and equivalents at 27 June 2026
- Federal Reserve Bank of St. Louis (FRED) — Federal Funds Effective Rate, series DFFThe 3.64% first-half average used for comparison
- Daily closing prices, AMD, February–August 2026 (market data, not a filing)The closing prices quoted here · prices may be delayed and are not from a filing
- NVIDIA Corporation — Form 8-K, filed August 17 2026Items 1.01 and 2.03 · every term of the guaranties quoted here is from this document
- SEC company concept API — NVIDIA, RevenuesRevenue of $215,938M for the year ended 25 January 2026 and $81,615M for the April 2026 quarter
- SEC company concept API — NVIDIA, StockholdersEquityStockholders' equity of $195,474M at 26 April 2026
- SEC company concept API — NVIDIA, CashAndCashEquivalentsAtCarryingValueCash and equivalents of $13,237M at 26 April 2026 · marketable debt securities take the total to $50,335M
- Daily closing prices, NVDA, February–August 2026 (market data, not a filing)The 18 August close-to-close move quoted here · prices may be delayed and are not from a filing
- Fabrinet — Form 8-K, filed August 17 2026Item 2.02 results of operations · also Items 1.01 and 2.03 on a term loan
- Fabrinet — Exhibit 99.1, Q4 and fiscal year 2026 earnings releaseIncome statement, balance sheet, cash flow statement, guidance, non-GAAP reconciliation
- Fabrinet — Form 10-K, fiscal year ended June 26 2026Customer concentration, accounts receivable concentration, inventory composition, revenue by product line
- Fabrinet — SEC EDGAR filing historyCIK 0001408710 · fiscal year ends the last Friday of June
- Daily closing prices, FN, June–August 2026 (market data, not a filing)Close-to-close moves quoted in this article · prices may be delayed and are not from a filing
32documents, deduplicated. Links go to the original filing, not to a summary.