NVIDIA vs TCS: Revenue, Profit and Business Model
NVIDIA reported $215.9B of revenue in FY2026 and $120.1B of net income. TCS reported ~$31B of revenue in FY2026 and ~$5.7B of net income.
Latest financial snapshot
Financial summary
NVIDIA
NVIDIA's revenue rose from $27.0B in fiscal 2023 to $60.9B in FY2024, $130.5B in FY2025 and $215.9B in FY2026, which ended January 25, 2026. FY2026 net income was $120.1B. Growth sped up again in fiscal 2027: Q1 revenue was $81.6B and Q2 (ended July 26, 2026) was $96.2B, up 106% year over year, with a 75.0% gross margin and $59.7B GAAP net income. Guidance for Q3 FY2027 is $108.0B, plus or minus 2%, and assumes no Data Center compute revenue from China. NVIDIA returned about $26.0B to shareholders in Q2. In May 2026 it raised the quarterly dividend to $0.25 from $0.01, and on September 28, 2026 it added $150B to its buyback authorization.
TCS
TCS reported FY2026 revenue of ₹2,67,021 crore ($30.017 billion), up 4.6% in rupees but down about 0.5% in dollars, with net income of about $5.71 billion (₹49,210 crore) and a 19.8% net margin. Q1 FY2027 revenue was ₹72,275 crore ($7.624 billion), up 13.9% in rupees and 2.7% in dollars year over year, with an operating margin of about 24% and net profit of ~$1.55 billion (₹13,349 crore). The growth story now rests on AI: TCS put its annualized AI services revenue at $1.8 billion in Q3 FY2026 and $2.6 billion in Q1 FY2027, while total contract value held at $9.5 billion for the quarter.
Revenue and profit by year
NVIDIA
| Year | Revenue | Net income | Margin | Growth | Source |
|---|---|---|---|---|---|
| FY2026 | $215.9B | $120.1B | 55.6% | +65.5% | Source |
| FY2025 | $130.5B | $72.9B | 55.8% | +114.2% | Source |
| FY2024 | $60.9B | $29.8B | 48.8% | +125.9% | Source |
| FY2023 | $27B | $4.4B | 16.2% | +0.2% | Source |
| FY2022 | $26.9B | $9.8B | 36.2% | +61.4% | Source |
| FY2021 | $16.7B | $4.3B | 26.0% | +52.7% | Source |
| FY2020 | $10.9B | $2.8B | 25.6% | -6.8% | Source |
| FY2019 | $11.7B | $4.1B | 35.3% | +20.6% | Source |
| FY2018 | $9.7B | $3B | 31.4% | +40.6% | Source |
| FY2017 | $6.9B | $1.7B | 24.1% | — | Source |
Where the revenue comes from
NVIDIA
- Data CenterDominant
GPU accelerators, AI systems, networking, and software for cloud, enterprise, and supercomputing customers.
- GamingMaterial
GeForce GPUs and gaming-platform products for PC gamers, creators, and consumer AI PCs.
- Professional Visualization
Complementary
Workstation GPUs, visualization, simulation, and Omniverse-related products.
- AutomotiveGrowth
Automotive compute, software, and autonomous-driving platforms.
- Software And ServicesGrowth
Enterprise AI software, cloud services, libraries, and platform subscriptions layered on hardware.
TCS
- IT services
Primary revenue source
Application development, maintenance, modernization and managed technology services.
- Consulting and transformation
Strategic growth stream
Business and technology transformation programs for large enterprises.
- Cloud, AI and cybersecurity
Fast-changing growth area
Cloud migration, AI, data, automation, cybersecurity and platform simplification.
- Business process services
Recurring enterprise stream
Technology-enabled operations and business process services.
- Platforms
Differentiated platform stream
Industry platforms such as TCS BaNCS and related software-led offerings.
Business model and strategy
NVIDIA
How it makes money
NVIDIA is a fabless chip and systems company: it designs GPUs, CPUs, networking and software, and outsources manufacturing mainly to TSMC. Data Center is the core business, at $193.7B of FY2026 revenue (about 90%) and $89.0B of the $96.2B earned in Q2 FY2027.
Growth strategy
NVIDIA wants to sell the whole AI factory, not just accelerators. It ships a new architecture roughly every year: Blackwell, then Blackwell Ultra, then Vera Rubin, which reached full production in mid-2026. Each rack combines GPUs, Vera CPUs, NVLink, Spectrum-6 switches and BlueField DPUs.
Competitive advantage
NVIDIA's lead comes from three things working together. CUDA has been in use since 2006 and much of the AI software stack is tuned for it. NVIDIA sells full systems that tie compute, NVLink and networking into one rack. Its scale also gets it priority access to TSMC wafers and high-bandwidth memory.
TCS
How it makes money
TCS earns revenue through global IT services and consulting, built around eight industry verticals and geographic diversification.
Growth strategy
TCS is growing through AI, cloud modernization, cybersecurity, data, engineering services, platforms, large transformation deals, partnerships and deeper penetration of existing enterprise accounts.
Competitive advantage
TCS' advantage is delivery scale, Tata trust, large-account depth, industry domain expertise, training infrastructure, strong margins and a reputation for mission-critical execution.
Questions about NVIDIA vs TCS
Which company has higher revenue — NVIDIA Corporation or Tata Consultancy Services Limited?
NVIDIA Corporation reported $215.9B (FY2026), while Tata Consultancy Services Limited reported ~$31B (FY2026). By last reported revenue, NVIDIA Corporation is the larger business, with Tata Consultancy Services Limited reporting a smaller revenue base.
What is the market cap of NVIDIA Corporation vs Tata Consultancy Services Limited?
NVIDIA Corporation's market capitalisation stands at $5.45T, while Tata Consultancy Services Limited's is $84.0B. NVIDIA Corporation carries the higher market valuation, reflecting investors' expectations of its future earnings power relative to Tata Consultancy Services Limited.
Which is more financially efficient — NVIDIA Corporation or Tata Consultancy Services Limited?
NVIDIA Corporation generates $5.14M / employee in revenue per employee, while Tata Consultancy Services Limited generates $52k / employee. NVIDIA Corporation shows higher revenue efficiency per headcount, though this reflects business model differences — capital-light software companies routinely outperform labour-intensive manufacturers on this metric.
How do NVIDIA Corporation and Tata Consultancy Services Limited make money?
NVIDIA Corporation and Tata Consultancy Services Limited generate revenue in fundamentally different ways. NVIDIA Corporation: NVIDIA is a fabless chip and systems company: it designs GPUs, CPUs, networking and software, and outsources manufacturing mainly to TSMC. Tata Consultancy Services Limited: TCS earns revenue through global IT services and consulting, built around eight industry verticals and geographic diversification.
Which company is valued higher relative to revenue — NVIDIA Corporation or Tata Consultancy Services Limited?
On a price-to-sales (P/S) basis, NVIDIA Corporation trades at 25.2x P/S and Tata Consultancy Services Limited at 2.7x P/S. NVIDIA Corporation commands a higher revenue multiple, typically indicating that investors expect faster growth or higher future margins compared to Tata Consultancy Services Limited. A higher multiple is not inherently better — it may also signal that the stock is priced for perfection.
Is NVIDIA Corporation bigger than Tata Consultancy Services Limited?
By last reported revenue, NVIDIA Corporation ($215.9B (FY2026)) is the larger company compared to Tata Consultancy Services Limited (~$31B (FY2026)). Revenue scale is one dimension of size — market capitalisation, employee count, and geographic reach are also relevant depending on the context.
Figures come from each company's filings and the sources linked beside them. Amounts reported in another currency are shown in US dollars at an approximate rate and marked with ~. Back to the NVIDIA vs TCS overview