NVIDIA Corporation (NVDA)

Debt-to-capital ratio

		Jan 31, 2025	Oct 31, 2024	Jul 31, 2024	Apr 30, 2024	Jan 31, 2024	Jan 28, 2024	Oct 31, 2023	Oct 29, 2023	Jul 31, 2023	Jul 30, 2023	Apr 30, 2023	Jan 31, 2023	Jan 29, 2023	Oct 31, 2022	Oct 30, 2022	Jul 31, 2022	May 1, 2022	Apr 30, 2022	Jan 31, 2022	Jan 30, 2022
Long-term debt	US$ in thousands	—	—	—	—	—	8,459,000	—	8,457,000	—	8,456,000	—	—	9,703,000	—	9,701,000	—	10,947,000	—	—	10,946,000
Total stockholders’ equity	US$ in thousands	79,327,000	65,899,000	58,157,000	49,142,000	42,978,000	42,978,000	33,265,000	33,265,000	27,501,000	27,501,000	24,520,000	22,101,000	22,101,000	21,349,000	21,349,000	23,851,000	26,320,000	26,320,000	26,612,000	26,612,000
Debt-to-capital ratio		0.00	0.00	0.00	0.00	0.00	0.16	0.00	0.20	0.00	0.24	0.00	0.00	0.31	0.00	0.31	0.00	0.29	0.00	0.00	0.29

January 31, 2025 calculation

Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $—K ÷ ($—K + $79,327,000K)
= 0.00

The debt-to-capital ratio of NVIDIA Corporation has shown fluctuations over the periods provided. The ratio indicates the proportion of debt in relation to the total capital employed by the company.

As of January 30, 2022, the debt-to-capital ratio was 0.29, suggesting that approximately 29% of the company's capital was financed through debt. This ratio then decreased to 0.00 by January 31, 2022 and remained at this level until April 30, 2022.

Subsequently, the ratio increased to 0.29 by May 1, 2022, indicating a return to some level of debt financing. However, it dropped back to 0.00 by July 31, 2022, where it stayed until October 31, 2022.

From October 30, 2022, the debt-to-capital ratio rose to 0.31 by January 29, 2023, implying an increase in the proportion of debt used to finance operations. The ratio then declined to 0.00 by April 30, 2023, signaling a reduced reliance on debt for financing.

Throughout the subsequent periods, the debt-to-capital ratio fluctuated, reaching 0.16 by January 28, 2024, before returning to 0.00 by April 30, 2024, where it remained until January 31, 2025.

These fluctuations in the debt-to-capital ratio suggest that NVIDIA Corporation has managed its capital structure by varying its debt levels over time in response to financial conditions and operational needs. A lower ratio generally indicates lower financial risk and less reliance on debt financing, while a higher ratio may imply greater leverage and potential risks associated with debt repayment.