Edwyn
Between 2021 and 2025, NVIDIA’s income statement shows robust revenue growth and generally strong profitability, albeit with some fluctuations in margins. In 2021, revenue was at US$16.68 billion, which grew moderately to US$26.91 billion in 2022, representing an impressive increase well over 60% year-over-year. However, the growth in 2023 was nearly flat at US$26.97 billion, with a noticeable decline in gross profit and operating income compared to 2022. This pause could be attributed to potential challenges in operational efficiency or shifts in product mix. Notably, the margins contracted noticeably in 2023, as operating income dropped from US$10.04 billion in 2022 to US$4.22 billion, while net income similarly declined from US$9.75 billion to US$4.37 billion, marking significant swings above 20%. The dramatic turnaround appears from 2024 onward, where both revenue and margins experienced strong improvement. Revenue more than doubled to US$60.92 billion in 2024, and further surged to US$130.50 billion in 2025, reflecting impressive market expansion and potential product or operational breakthroughs. Gross profit, operating income, and net income followed this trend with similarly substantial increases, with net income reaching US$72.88 billion in 2025. These figures suggest a possible second wind driven by new market opportunities—perhaps in data centers or AI technologies—which have been crucial to NVIDIA’s industry positioning. Overall, despite a short-term dip in 2023, the company’s financial health appears solid, with strong revenue momentum and profitability improvements that signal sustainable growth for the future.
This analysis is for informational purposes only and does not constitute financial advice or recommendations for any investment decisions. Please consult with a qualified financial professional for personalized guidance.