Company growth
Who grew — and who fell behind?
Start every business at the same baseline and follow the reported results
Adjust comparison Company revenue · FY2022–2025 · 6 companies
Company revenue · 2022 → 2025 · 2022 = 100 · company-wide figures, not stock returns or isolated AI revenue
No positive baseline for Alphabet. These series are excluded from indexed and percentage comparisons; actual values remain below.
Loading chartCompare financial details
The full comparison · FY 2025
Same selected companies, multiple financial measures
| Measure |  NVIDIA |  Microsoft |  Alphabet |  Meta |  Amazon |  AMD |
|---|---|---|---|---|---|---|
| $130.50BFY 2025 | $281.72BFY 2025 | $402.84BFY 2025 | $200.97BFY 2025 | $716.92BFY 2025 | $34.64BFY 2025 | |
| $72.88BFY 2025 | $101.83BFY 2025 | $132.17BFY 2025 | $60.46BFY 2025 | $77.67BFY 2025 | $4.34BFY 2025 | |
| $64.09BFY 2025 | $136.16BFY 2025 | $164.71BFY 2025 | $115.80BFY 2025 | $139.51BFY 2025 | $7.71BFY 2025 | |
| $12.91BFY 2025 | $32.49BFY 2025 | $61.09BFY 2025 | $57.37BFY 2025 | —FY 2025 | $8.09BFY 2025 | |
| Net margin | 55.8%+19.6 pp since 2022 | 36.1%-0.5 pp since 2022 | 32.8%Baseline change unavailable | 30.1%+10.2 pp since 2022 | 10.8%+11.4 pp since 2022 | 12.5%+6.9 pp since 2022 |
| Operating cash flow / revenue | 49.1%+15.3 pp since 2022 | 48.3%+3.4 pp since 2022 | 40.9%Baseline change unavailable | 57.6%+14.3 pp since 2022 | 19.5%+10.4 pp since 2022 | 22.3%+7.1 pp since 2022 |
| R&D / revenue | 9.9%-9.7 pp since 2022 | 11.5%-0.8 pp since 2022 | 15.2%Baseline change unavailable | 28.5%-1.8 pp since 2022 | —Baseline change unavailable | 23.4%+2.2 pp since 2022 |
The bottom three rows always show ratios in FY 2025, with changes in percentage points. R&D intensity is spending relative to revenue; a higher value does not establish better performance. Operating cash flow is neither free cash flow nor profit.
Head to head
| FY 2025 | NVIDIA | Microsoft | Difference · first minus second |
|---|---|---|---|
| Revenue | $130.50B | $281.72B | -$151.23B |
| Net income | $72.88B | $101.83B | -$28.95B |
| Operating cash flow | $64.09B | $136.16B | -$72.07B |
| R&D expense | $12.91B | $32.49B | -$19.57B |
| Net margin | 55.8% | 36.1% | 19.7 pp |
| Operating cash flow / revenue | 49.1% | 48.3% | 0.8 pp |
| R&D / revenue | 9.9% | 11.5% | -1.6 pp |
Differences preserve each metric’s unit. Larger companies naturally have larger absolute totals; this table does not assign a universal winner.
Company coverage and original filings
NVIDIA · AI accelerators and compute · Own SEC EDGAR company facts ↗
Microsoft · Azure AI infrastructure and Copilot · Own SEC EDGAR company facts ↗
Alphabet · Google models, cloud and compute · Own SEC EDGAR company facts ↗
Meta · Model provider and AI products · Own SEC EDGAR company facts ↗
Amazon · AWS AI infrastructure and models · Own SEC EDGAR company facts ↗
AMD · AI accelerators and compute · Own SEC EDGAR company facts ↗
All figures are consolidated company observations. Identical fiscal-year labels can cover different calendar windows. Ratios use the same company and fiscal-year label for numerator and denominator; precise period-end alignment cannot be established from this export alone. No AI-specific attribution is inferred.
Actual values, exclusions and interpretation
2022 is an editorial baseline around the launch of ChatGPT, not the beginning of AI. Changes after it do not establish that AI caused growth. Company fiscal-year ends differ. Exact selected fiscal-year labels are used, with no substitution of a different year. Positive baselines are required for percentage/index comparisons. A negative current value is retained; missing or nonpositive baselines are excluded.
| Company | 2022 · USD bn | 2025 · USD bn | Change | Source |
|---|---|---|---|---|
| NVIDIA | 26.91 | 130.50 | 384.9% | SEC EDGAR ↗ |
| Meta | 116.61 | 200.97 | 72.3% | SEC EDGAR ↗ |
| AMD | 23.60 | 34.64 | 46.8% | SEC EDGAR ↗ |
| Microsoft | 198.27 | 281.72 | 42.1% | SEC EDGAR ↗ |
| Amazon | 513.98 | 716.92 | 39.5% | SEC EDGAR ↗ |
| Alphabet | — | 402.84 | Unavailable | SEC EDGAR ↗ |
Source: SEC EDGAR company facts, existing approved company export. Fiscal results are neither share-price performance nor a measure of profit attributable exclusively to AI. R&D is all company R&D; it is not capital expenditure.
