NVIDIA vs Apple: Whose Net Income Grew More, FY2016 to FY2025?
NVIDIA net income: $0.61B in FY2016 to $72.9B in FY2025 (118.7x, +70.0% a year). Apple net income: $45.7B in FY2016 to $112.0B in FY2025 (2.45x, +10.5% a year).
| Period | NVIDIA net income | Apple net income |
|---|---|---|
| FY2025 | $72.9B | $112.0B |
| FY2024 | $29.8B | $93.7B |
| FY2023 | $4.4B | $97.0B |
| FY2022 | $9.8B | $99.8B |
| FY2021 | $4.3B | $94.7B |
| FY2020 | $2.8B | $57.4B |
| FY2019 | $4.1B | $55.3B |
| FY2018 | $3.0B | $59.5B |
| FY2017 | $1.7B | $48.4B |
| FY2016 | $0.6B | $45.7B |
In the last fiscal year shown, Apple had the larger net income (1.54x the other's). NVIDIA, largest one-year change: +581% (FY2024 vs FY2023); smallest: -55.2% (FY2023 vs FY2022). Apple, largest one-year change: +64.9% (FY2021 vs FY2020); smallest: -7.2% (FY2019 vs FY2018).
Fiscal years: FY2025 (ends Jan 2025) NVDA; FY2025 (ends Sep 2025) AAPL; fiscal year-ends differ. What is counted: net income as reported in annual 10-K filings, nominal US dollars, not adjusted for inflation. Each fiscal year is named for the calendar year in which it ends.
Source: SEC EDGAR filings (public information), annual 10-K data, latest fiscal year ends 2025-09-27. Values as reported; we only converted them to US$ billions for the chart. Not affiliated with or endorsed by the U.S. Securities and Exchange Commission (SEC). For information only. Not financial advice.
Not affiliated with or endorsed by the SEC. For information only. Not financial advice. Figures are computed from the source data by script and rounded for display. Watch the Short on YouTube.