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英伟达NVIDIA(NVDA)2026财年第四季度及全年投资者演示报告「NASDAQ」(英文版)(17页).pdf

上传人: 1****1 编号:1143819 2026-02-26 17页 1.67MB

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1、Investor Presentation Q4 FY26February 2026Certain matters in this presentation including,but not limited to,statements as to:expectations with respect to growth,performance and benefits of NVIDIAs products,services,and technologies,including Blackwell,and related trends and drivers;expectations with

2、 respect to supply and demand for NVIDIAs products,services,and technologies,including Blackwell,and related matters including inventory,production and distribution;NVIDIAs financial position and financial and business outlook;expectations with respect to technology developments and related trends a

3、nd drivers;projected market growth and trends;expectations with respect to AI and related industries;and other statements that are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933,as amended,and Section 21E of the Securities Exchange

4、 Act of 1934,as amended,which are subject to the“safe harbor”created by those sections based on managements beliefs and assumptions and on information currently available to management and are subject to risks and uncertainties that could cause results to be materially different than expectations.Im

5、portant factors that could cause actual results to differ materially include:global economic and political conditions;NVIDIAs reliance on third parties to manufacture,assemble,package and test NVIDIAs products;the impact of technological development and competition;development of new products and te

6、chnologies or enhancements to NVIDIAs existing product and technologies;market acceptance of NVIDIAs products or NVIDIAs partners products;design,manufacturing or software defects;changes in consumer preferences or demands;changes in industry standards and interfaces;unexpected loss of performance o

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1. **业绩增长**:Q4 FY26营收达681亿美元(同比+73%),创历史最高季度环比增长;数据中心收入513亿美元(同比+58%),自ChatGPT出现以来增长近13倍。 2. **利润与现金流**:GAAP毛利率75.2%(同比+2.0pts),净利润430亿美元(同比+94%);自由现金流349亿美元,资本回报81亿美元。 3. **产品与市场**:Blackwell架构需求强劲,Ampere产品售罄;NVIDIA为全球最大网络业务,推理成本最低。 4. **展望**:Q1 FY27营收预期780亿美元(±2%),毛利率75.0%(±50bps),持续投资增长并回报股东。 5. **风险提示**:经济、供应链、技术竞争等因素可能导致实际结果与预期差异。
**AI增长动力?** **Blackwell前景如何?** **利润率为何提升?**
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