Key Highlights

  • Nvidia (NASDAQ:NVDA) Revenue grew 83.4% over one year, 110.1% annualised over three years and 69.1% over five, while Earnings grew 125.4%, 166.9% and 94.9% over the same spans, a published scorecard shows.
  • The scorecard rates the moat wide at 5 of 5 and widening at 5 of 5, with strong switching costs, strong network effects around CUDA and strong intangible assets from patents.
  • Return on invested Capital of 135.4% in fiscal 2026 sits above every one of the 14 comparators Nvidia names, and Data Center revenue grew 117% in the July 2026 quarter.
  • The scorecard places Nvidia in phase 4 of 5, capital return, with USD 303B of latest twelve month revenue and USD 198B of operating profit, and with Buybacks and dividends under way.

Moat Sources

The scorecard rates the moat as wide, its top score, and widening. Switching costs are strong and stable because leaving means rewriting code and retraining engineers on a different architecture, then replacing rack scale systems already installed. Network effects are strong and widening because each additional developer writing to CUDA makes the platform more useful to every other customer, and Nvidia's filings name that installed base as strengthening the ecosystem. Intangible assets are strong and widening through patents, with expirations running from March 2026 to June 2045 and no single product exclusivity driving revenue. Low-cost production is only moderate, because Nvidia buys wafers, memory and assembly from outside suppliers, so its edge is secured foundry and packaging allocation. Nvidia (NASDAQ:NVDA) gets no Credit for counter-positioning.

Growth And Phase

Revenue grew 83.4% in the latest year and compounded at 110.1% over three years, with earnings growing faster. The scorecard rates growth high. The revenue chart runs from USD 26.9B in fiscal 2022 to USD 216B in fiscal 2026 and USD 303B for the latest twelve months, and operating profit reaches USD 198B on that basis. Gross Margin rose to 75.0% in the July 2026 quarter from 72.4% a year earlier, with no rebate or discount programme disclosed in company filings. The scorecard places Nvidia in the capital return phase, where profits are established and companies return cash. Return on invested capital of 135.4% is the scorecard's evidence that growth has been highly efficient. It adds that the industry is growing and that room for new offerings is likely.

What Could Narrow It

A moat is a judgment, not a measurement, and this one has limits. The scorecard says Nvidia does not own its cost curve and depends on suppliers concentrated in Asia. It names a shift in industry standards and customers designing their own accelerators as disruption risks, though those buyers keep scaling purchases. Growth rates also fade as the base expands, and the scorecard's chart shows annual revenue growth moving from triple digits toward lower figures. The scorecard rates revenue predictability as unpredictable because data center spending arrives in waves. No dated catalysts are given in the materials reviewed, so each Quarterly Report from Nvidia (NASDAQ:NVDA) is the practical checkpoint.

Where Things Stand

Nvidia (NASDAQ:NVDA) grew revenue 83.4% in a year because AI infrastructure buyers keep buying complete systems built around its processors, networking and CUDA software, which the scorecard says is a wide and widening moat. It reports a 135.4% return on invested capital and a high growth score. The limits are an unpredictable Demand pattern, supplier dependence and customers building rival chips. These are the scorecard's views rather than ours, and growth of this size is hard to sustain as the base gets larger.