TL;DR
NVIDIA's FY2025 revenue grew 114.2% to $130.497 billion while operating margin rose from 54.12% to 62.42%. Data Center sales increased from $47.525 billion to $115.186 billion. Compare matching annual filings in Codex and preserve the calculations. Restate EPS to the same share basis before measuring growth: $2.94 versus $1.19 gives 147.06%, while mixing the older $11.93 API value with post-split EPS gives a misleading comparison. Business growth alone does not establish an attractive stock price.
Did NVIDIA's growth come with a stronger operating business?
- FY2025 operating margin
- 62.42%
- FY2025 revenue
- $130.497B
Show the table · 2 rows, 4 columns
Scroll sideways to compare all columns. Select a heading to sort.
| FY2025 statement, split-restated | $0.17 | $1.19 | $2.94 |
| Basis | Post-split | Post-split | Post-split |
No matching rows. Clear the filter to see all records.
Revenue more than doubled from FY2024 to FY2025 and operating margin increased from 54.12% to 62.42%. Data Center sales grew from $47.525B to $115.186B, making the segment an identifiable growth driver rather than an assumed AI label.
Comparable FY2025 EPS growth is (2.94 ÷ 1.19 − 1) × 100 = 147.06%. This calculation uses the original statement, not the mixed-basis raw API series.
Reproduce this evidence in Codex
Inspect the request
This worked comparison was checked in NexusTrade and against the original statements. It is not an execution receipt from your external client. Use the connected client capability described in the setup guide, or supply the public statements directly when a tool is unavailable.
Compare three full fiscal periods
Not plotted because no numeric value was recorded: NVDA · 2023-01-29.
Operating margin = operating income ÷ revenue. Not returned means missing, never zero. Source FCF definitions require the reconciliation below.
Show the table · 3 rows, 5 columns
Scroll sideways to compare all columns. Select a heading to sort.
| NVDA · 2023-01-29 | $26.974B | $4.224B / 15.66% | $4.368B | Not returned |
| NVDA · 2024-01-28 | $60.922B | $32.972B / 54.12% | $29.760B | $27.021B |
| NVDA · 2025-01-26 | $130.497B | $81.453B / 62.42% | $72.880B | $60.853B |
No matching rows. Clear the filter to see all records.
Operating margin = operating income ÷ revenue. Not returned means missing, never zero. Source FCF definitions require the reconciliation below.
Read-only NexusTrade sec_edgar fundamentals retrieved October 12, 2026 and checked against the original annual statements. Amounts below are USD billions; the retained raw response uses USD. These are historical fiscal periods, not a live quote or a forecast.
Follow the calculation into the business
Reported annual segment sales from the source statement. This comparison concerns the business and preserves fiscal-year scope.
Evidence 1
FY2023 → FY2024 → FY2025 Data Center revenue: $15.005B → $47.525B → $115.186B.
Evidence 2
Operating cash flow: $5.641B → $28.090B → $64.089B. Purchases of PPE and intangible assets: $1.833B → $1.069B → $3.236B.
Evidence 3
The FY2025 original statement restates diluted EPS to $0.17, $1.19 and $2.94 on the same post-split share basis. The API's older FY2024 $11.93 cannot be compared directly with FY2025 $2.94.
What this result leaves unanswered
Accounting explanation
A 10-for-1 share split changes per-share units; it does not divide company earnings. Retain both the raw API observation and the comparable restated statement values.
Business and investment limits
Data Center includes more than a single chip or customer. Customer concentration, supply restrictions and future margin sustainability need separate evidence. High business growth does not establish an attractive stock price.
Check fiscal periods and public availability
Inspect every input period, publication date and source
Select FY rows by periodEnd instead of assuming the array is latest first. Source statements may present comparative years in one filing. Their later publication does not prove those exact restated values were available at the earlier historical date.
Scroll sideways to compare all columns. Select a heading to sort.
| NVDA | 2023 | 2023-01-29 | 2023-02-24 | Annual FY, USD |
| NVDA | 2024 | 2024-01-28 | 2024-02-21 | Annual FY, USD |
| NVDA | 2025 | 2025-01-26 | 2025-02-26 | Annual FY, USD |
No matching rows. Clear the filter to see all records.
Finish with a claim you can audit
Show the table · 3 rows, 3 columns
Scroll sideways to compare all columns. Select a heading to sort.
| The reported business improved | Same-period revenue and operating income | Source definitions and segment mix |
| Profit turned into cash | CFO reconciliation and PPE scope | Working capital and noncash items |
| The stock is attractive | Not established by these statements | Price, valuation assumptions and competing outcomes |
No matching rows. Clear the filter to see all records.
NVDA: Q2 fiscal 2027 reported result
Inspect the original nvda: q2 fiscal 2027 reported result
NexusTrade sec_edgar read recorded October 10, 2026. The reporting period ended 2026-07-26; the filing date was 2026-08-26.
- Revenue
- $96.221B96,221,000,000 USD
- Operating income
- $63.734B63,734,000,000 USD
- Operating margin
- 66.24%Calculated as operating income ÷ revenue.
Interpret the reported figures
Inspect the original interpret the reported figures
Operating margin describes this reported period. Keep annual and quarterly values separate, select the matching period explicitly, and retain the source filing. The fundamentals array includes older observations and is not ordered latest first.
Choose a separate next task
Inspect the original choose a separate next task
These guides are independent choices after this research brief. Review any proposed paid research, historical test or portfolio change before authorizing it.
Request a bounded company brief
Inspect the original request a bounded company brief
Create research/nvda-filings.md as the evidence record. Keep issuer identity, metric, unit, fiscal period, publication date, URL and the exact source passage together. The worked historical release below is a verification exercise, not the company's latest report.
Read NVDA issuer filings and the NVIDIA fiscal 2025 release published February 26, 2025. Extract annual revenue for FY2025 and FY2024 with units and fiscal end dates. Save a source table and the revenue-growth calculation in research/nvda-filings.md. Separate reported facts, arithmetic and interpretation. Do not submit research_topic, compute or orders until I approve the exact paid request.Check a real NVIDIA revenue calculation
Inspect the original check a real nvidia revenue calculation
NVIDIA published its fiscal 2025 results on February 26, 2025 for the year ended January 26, 2025. Its GAAP table reports FY2025 revenue of $130,497 million and FY2024 revenue of $60,922 million.
The increase is $69,575 million. Dividing 69,575 by 60,922 gives about 114.2%, consistent with the release's rounded 114% growth. This supports a historical revenue-growth statement. Use separate valuation assumptions for a fair-value estimate. Keep the annual columns separate from the fourth-quarter figures.
Read filing references and statement periods
Inspect the original read filing references and statement periods
Call sec_edgar twice with the separate argument objects below. list_filings returns filing references; fundamentals reads inline XBRL metrics. Inspect filing dates, fiscal periods and units before comparing them with the historical release. The five recent filings may not include that older release. Missing evidence is a gap to resolve from the primary source, not permission to fill in a number.
Keep these reads separate from ingest_filings, which persists source text. For NVDA, annual periods preserve the twelve-month comparison.
{
"ticker": "NVDA",
"action": "list_filings",
"forms": [
"10-K",
"10-Q"
],
"limit": 5
}
{
"ticker": "NVDA",
"action": "fundamentals",
"periods": "annual"
}From a question to evidence
Read filings
NexusTrade toolsec_edgar
Output to inspectIssuer, accession, reporting period and publication date
Read relevant news
NexusTrade toolsearch_stock_news
Output to inspectDated publisher links; distinguish news from filings
Submit bounded research
NexusTrade toolresearch_topic
Output to inspectresearchJobId and source-backed question
Poll the accepted job
NexusTrade toolget_research_status
Output to inspectSame research_job_id, completed report and citations
Inspect the original from a question to evidence
Scroll sideways to compare all columns. Select a heading to sort.
| Read filings | sec_edgar | Issuer, accession, reporting period and publication date |
| Read relevant news | search_stock_news | Dated publisher links; distinguish news from filings |
| Submit bounded research | research_topic | researchJobId and source-backed question |
| Poll the accepted job | get_research_status | Same research_job_id, completed report and citations |
No matching rows. Clear the filter to see all records.
research_topic is asynchronous. Poll get_research_status with the same job ID instead of launching another billed research run for the same question.
Submit research only when the request is approved
Inspect the original submit research only when the request is approved
If the primary sources leave a specific question unresolved, show the exact message for research_topic first. The accepted response includes researchJobId and status; save them before ending the session. A completed inline response may already contain citations. Otherwise pass the saved researchJobId as research_job_id to get_research_status.
PROCESSING means poll the same job. COMPLETED returns the report content and citations. FAILED returns an error to investigate. A second research_topic call starts another billed run; a missing response is not permission to duplicate it. If no saved ID exists, inspect the original tool response before considering another submission.
Finish the brief and recover an interrupted session
Inspect the original finish the brief and recover an interrupted session
If the server is missing, inspect the selected local MCP configuration. If it requires OAuth, use Authenticate in the app or codex mcp login nexustrade in the CLI. After updating the desktop entry select Restart, then check /mcp. Reopen the saved artifact before continuing a new Codex task; a fresh conversation does not establish which operation was accepted.
Open research/nvda-filings.md and check each material claim against its link. Keep the original reported value and label each calculation. Leave absent/restated evidence explicit. For a newer-period brief repeat the source checks with the actual latest publication dates instead of carrying these historical figures forward.
The finished artifact should contain the source table, reproducible arithmetic, a bounded interpretation and the next unresolved question. It is a research brief, not a saved strategy or order instruction.
Costs and the next task
Inspect the original costs and the next task
The local brief records your sources and calculations. A research_topic submission can consume credits, so review its exact question and your plan before starting it. Reuse the accepted job ID when polling or recovering a session. Check each report claim against its cited source.
For live deployment, review the separate broker guide, exact trading account and permissions. Choose the broker guide that matches your trading account.
Actual NexusTrade filing-tool output
Inspect the exact returned fields and original requests
We ran the two read-only sec_edgar requests below through NexusTrade on October 10, 2026. The filing list and quarterly fundamentals returned NVDA Q2 fiscal 2027, ending 2026-07-26, filed 2026-08-26. The original SEC statement's three-month columns agree with the revenue and operating income shown here after converting millions to USD.
Select the matching fiscal period and periodEnd explicitly. The returned fundamentals array includes older observations and is not ordered latest first. These recorded NexusTrade tool results provide a reference for your own filing reads. Preserve the returned filing date even when it differs from the earnings release date.
This receipt records a NexusTrade filing read on October 10, 2026. Optional historical exercises retain their own periods and units.
| Returned field | Actual value |
|---|---|
| Ticker | NVDA |
| Fiscal period | Q2 fiscal 2027 |
| periodEnd | 2026-07-26 |
| filed | 2026-08-26 |
| totalRevenue (USD) | 96221000000 |
| operatingIncome (USD) | 63734000000 |
No matching rows. Clear the filter to see all records.
[
{
"ticker": "NVDA",
"action": "list_filings",
"forms": [
"10-K",
"10-Q"
],
"limit": 2
},
{
"ticker": "NVDA",
"action": "fundamentals",
"periods": "quarterly"
}
]Connect Codex in the intended environment
Connect Codex in the intended environment
- Connection boundary
- Local desktop, CLI and IDE settings do not configure a hosted ChatGPT web chat.
For the CLI path, run the add and login commands below, complete NexusTrade sign-in in the browser, then start codex and inspect /mcp. The full guide also shows the local desktop settings path. ChatGPT web uses a separate connection.
What you should see: The local Codex host discovers NexusTrade tools. A server list alone does not show which portfolio account those tools read.
codex mcp add nexustrade --url https://nexustrade.io/api/mcp
codex mcp login nexustradeOptional: check the account before owned-record changes
Optional: check the account before owned-record changes
Skip this step if you only want to inspect the public filing in the next step. Before reading or changing an owned portfolio, ask for a read-only list, inspect one returned ID with get_portfolio and compare its name, strategies and deployment type. An authenticated empty list is valid for a new account.
What you should see: For owned records, you have the intended account response or an authenticated empty response. Resolve an account mismatch before saving anything. Public filing inspection does not require an owned-portfolio read.
- Identity boundary
- A server list or public filing read does not verify access to your owned portfolios.
Use only NexusTrade read tools. Call fetch_portfolios, then get_portfolio with one returned portfolio ID. Report the ID, name, strategies and deployment type. If the authenticated list is empty, report that result. Do not create, edit, backtest, deploy or place orders.
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