# Example: `/analyze NVDA`

> Illustrative skill output format. Metrics below were generated from public EDGAR + market snapshots and should be treated as research context, not investment advice.

## Verdict

**Constructive (Conviction: 74/100)**

NVDA screens as a high-quality compounder with exceptional operating leverage, but the bar remains elevated and execution must continue to outrun consensus.

## XVARY Scores

| Score | Value | Read |
| --- | ---: | --- |
| Momentum | 88 | Demand + operating leverage remain strong |
| Stability | 70 | Execution quality is strong, but cyclicality risk is non-zero |
| Financial Health | 84 | Balance sheet remains robust relative to obligations |
| Upside Estimate | 64 | Setup is positive, but expectations are already high |

## Thesis Pillars

1. **AI infrastructure spend durability:** enterprise and hyperscaler demand remain the dominant top-line driver.
2. **Ecosystem lock-in:** software + CUDA + developer adoption supports pricing power.
3. **Operating leverage:** incremental revenue continues to convert efficiently to earnings and cash flow.
4. **Balance-sheet capacity:** strong cash generation supports resilience through cycle volatility.

## Top 3 Risks

1. **Hyperscaler digestion cycle:** capex pacing could compress growth visibility.
2. **Regulatory/export constraints:** policy tightening can disrupt high-end chip mix.
3. **Competitive catch-up:** accelerated alternatives could pressure premium pricing over time.

## Kill Criteria

Re-underwrite immediately if two or more of the following occur in close succession:

- Data-center growth decelerates below internal underwriting band for multiple quarters.
- Gross-margin trajectory breaks while capex intensity rises.
- Key customer concentration worsens without offsetting product diversification.

## Financial Snapshot (Public Data)

- **Annual period end:** 2026-01-25 (10-K)
- **Annual revenue:** `$215.9B`
- **Annual net income:** `$120.1B`
- **Operating cash flow:** `$102.7B`
- **Total assets / liabilities:** `$206.8B / $49.5B`
- **Market context (sample pull):** price `$172.70`, market cap `~$4.20T`, P/E `35.23`, beta `2.34`

## Next Checks (1-2 Quarters)

1. Watch data-center mix and gross-margin progression versus guide.
2. Track customer concentration and large-deal quality.
3. Monitor regulatory and supply-chain constraints for fulfillment risk.

## Live Deep Dive

- NVDA deep dive: [xvary.com/stock/nvda/deep-dive/](https://xvary.com/stock/nvda/deep-dive/)

`Powered by XVARY Research | Full deep dive: xvary.com/stock/nvda/deep-dive/`
