NVIDIA Corporation stock research
FY2025 Q4
NVIDIA (NVDA) Gross Margin — Quarter Ended Jan 26, 2025
Revenue, gross profit, and cost of revenue all increased compared to both the prior quarter and the same quarter a year earlier, while gross margin weakened. The filing notes that operating cash flow grew due to higher revenue.
Gross margin takeaway
Quarter ended Jan 26, 2025 · FY2025 Q4
Revenue, gross profit, and cost of revenue all increased compared to both the prior quarter and the same quarter a year earlier, while gross margin weakened. The filing notes that operating cash flow grew due to higher revenue.
- The increase in cost of revenue was proportionally larger than the increase in revenue, resulting in a lower gross margin compared to both the prior quarter and the year-ago quarter.
- Gross margin was lower than the immediately preceding quarter and also lower than the same quarter one year earlier, indicating a weakening trend.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
73.0%
Gross profit
$28.7B
Revenue
$39.3B
Cost of revenue
$10.6B
Quarter-over-quarter change
-1.5 pts
Year-over-year change
-2.9 pts
Quarterly gross margin trend
A four-quarter view of the revenue and direct-cost bridge behind gross margin.
| Period | Revenue | Gross profit | Cost of revenue | Gross margin |
|---|---|---|---|---|
| Apr 28, 2024 | $26.0B | $20.4B | $5.6B | 78.4% |
| Jul 28, 2024 | $30.0B | $22.6B | $7.5B | 75.1% |
| Oct 27, 2024 | $35.1B | $26.2B | $8.9B | 74.6% |
| Jan 26, 2025 | $39.3B | $28.7B | $10.6B | 73.0% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Oct 27, 2024
-1.5 pts
Year-over-year change
Jan 28, 2024
-2.9 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
The increase in cost of revenue was proportionally larger than the increase in revenue, resulting in a lower gross margin compared to both the prior quarter and the year-ago quarter.
Gross margin was lower than the immediately preceding quarter and also lower than the same quarter one year earlier, indicating a weakening trend.
Monitor the trend of cost of revenue relative to revenue, as its faster growth has compressed gross margin.