NVDA NVIDIA Corporation - Common Stock

NASDAQ · Semiconductors · View on SEC EDGAR ↗
$222.20
Price · May 20, 2026
Fundamentals as of Feb 25, 2026
52W Range
$129–$237
87% of range
Analyst Rating
BUY
71 analysts
Price Target
$273
+23% upside
P/E (TTM)
38.3
ROE
93.3%
Net Profit Margin
55.6%

NVDA Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range

Price
$222.20
Market Cap
$4.57T
P/E (TTM)
38.3
EPS (TTM)
$4.90
Revenue (TTM)
$215.94B
Div Yield
0.02%
ROE
93.3%
Debt/Equity
0.1
52W Range
$129 – $237

NVDA Stock Price Chart Daily OHLCV with technical indicators — pan, zoom, and customize your view

10-Year Performance Revenue, net income, margins and EPS trends

Revenue & Net Income $215.94B
10-point trend, +3025.0%
2017-01-29 → 2026-01-25
EPS $4.90
10-point trend, +90.7%
2017-01-29 → 2026-01-25
Free Cash Flow $96.68B
3-point trend, +257.8%
2024-01-28 → 2026-01-25
Margins 55.6%
10-point trend, +20.9%
2017-01-29 → 2026-01-25

Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?

Metric
5Y trend
NVDA
Peer Median
P/E (TTM)
5-point trend, +546.3%
38.3
33.1
P/S (TTM)
5-point trend, +894.3%
21.1
9.2
P/B
5-point trend, +1249.7%
29.0
5.5
EV / EBITDA
5-point trend, +717.8%
34.3
—
Price / FCF
3-point trend, +748.6%
47.2
—

Profitability Gross, operating and net margins; ROE, ROA, ROIC

Metric
5Y trend
NVDA
Peer Median
Gross Margin
5-point trend, +9.5%
71.1%
54.6%
Operating Margin
5-point trend, +61.8%
60.4%
—
Net Profit Margin
5-point trend, +53.5%
55.6%
25.6%
ROA
5-point trend, +182.2%
75.4%
11.1%
ROE
5-point trend, +141.1%
93.3%
19.9%
ROIC
5-point trend, +154.6%
66.8%
—

Financial Health Debt, liquidity, solvency — balance sheet strength

Metric
5Y trend
NVDA
Peer Median
Debt / Equity
5-point trend, -86.9%
0.1
31.8
Current Ratio
5-point trend, -41.3%
3.9
2.4
Quick Ratio
5-point trend, -74.4%
1.5
—

Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR

Metric
5Y trend
NVDA
Peer Median
Revenue YoY
5-point trend, +702.3%
65.5%
—
Revenue CAGR 3Y
5-point trend, +702.3%
100.0%
—
Revenue CAGR 5Y
5-point trend, +702.3%
66.9%
—
EPS YoY
5-point trend, +27.3%
66.7%
—
Net Income YoY
5-point trend, +1131.2%
64.8%
—

Per Share Metrics EPS, book value per share, cash flow per share, dividend per share

Metric
5Y trend
NVDA
Peer Median
EPS (Diluted)
5-point trend, +27.3%
$4.90
—

Capital Efficiency Asset turnover, inventory turnover, receivables turnover

Metric
5Y trend
NVDA
Peer Median
Payout Ratio
5-point trend, -80.2%
0.81%
—

Dividends Yield, payout ratio, dividend history, 5Y CAGR

Dividend Yield
0.02%
Payout Ratio
0.81%
5Y Div CAGR
—
Ex-dateAmount
March 11, 2026$0.0100
Dec. 4, 2025$0.0100
Sept. 11, 2025$0.0100
June 11, 2025$0.0100
March 12, 2025$0.0100
Dec. 5, 2024$0.0100
Sept. 12, 2024$0.0100
June 11, 2024$0.0100
March 5, 2024$0.0040
Dec. 5, 2023$0.0040
Sept. 6, 2023$0.0040
June 7, 2023$0.0040
March 7, 2023$0.0040
Nov. 30, 2022$0.0040
Sept. 7, 2022$0.0040
June 8, 2022$0.0040
March 2, 2022$0.0040
Dec. 1, 2021$0.0040
Aug. 31, 2021$0.0040
June 9, 2021$0.0040

NVDA Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside

BUY 71 analysts
  • Strong Buy 24 33.8%
  • Buy 42 59.2%
  • Hold 4 5.6%
  • Sell 1 1.4%
  • Strong Sell 0 0.0%

12-Month Price Target

57 analysts · 2026-05-18
Median target $275.00 +23.8%
Mean target $272.94 +22.8%

Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date

Avg Surprise
0.03%
Period EPS Actual EPS Est Surprise
March 31, 2026 $1.62 $1.56 0.06%
Dec. 31, 2025 $1.30 $1.27 0.03%
Sept. 30, 2025 $1.05 $1.03 0.02%
June 30, 2025 $0.96 $0.95 0.01%

Peer Comparison Key metrics vs sector peers

Ticker Market Cap P/E Rev YoY Net Margin ROE Gross Margin
NVDA $4.57T 38.3 65.5% 55.6% 93.3% 71.1%
AVGO $1.75T 77.5 23.9% 36.2% 30.7% 67.8%
MU $136.88B 16.1 48.9% 22.8% 16.6% 39.8%
AMD — 81.1 34.3% — — —
INTC $180.78B -603.3 -0.47% -0.51% -0.25% 34.8%
TXN — 31.8 13.1% 28.3% 30.1% 57.0%
QCOM $181.72B 33.8 13.7% 12.5% 22.7% —
ADI $114.64B 51.3 16.9% 20.6% 6.6% 61.5%
MRVL $68.75B 26.4 42.1% 32.6% 19.3% 51.0%
MPWR $44.15B 70.5 26.4% 22.3% 18.0% 55.2%

Full Fundamentals All metrics by year — income statement, balance sheet, cash flow

Income Statement 18
Annual Income Statement data for NVDA
Metric Trend 202620252024202320222021202020192018201720162015
Revenue 12-point trend, +4512.1% $215.94B $130.50B $60.92B $26.97B $26.91B $16.68B $10.92B $11.72B $9.71B $6.91B $5.01B $4.68B
Cost of Revenue 12-point trend, +2899.3% $62.48B $32.64B $16.62B $11.62B $9.44B $6.28B $4.15B $4.54B $3.89B $2.85B $2.20B $2.08B
Gross Profit 12-point trend, +5804.7% $153.46B $97.86B $44.30B $15.36B $17.48B $10.40B $6.77B $7.17B $5.82B $4.06B $2.81B $2.60B
R&D Expense 12-point trend, +1260.1% $18.50B $12.91B $8.68B $7.34B $5.27B $3.92B $2.83B $2.38B $1.80B $1.46B $1.33B $1.36B
SG&A Expense 12-point trend, +854.0% $4.58B $3.49B $2.65B $2.44B $2.17B $1.94B $1.09B $991M $815M $663M $602M $480M
Operating Expenses 12-point trend, +1154.1% $23.08B $16.41B $11.33B $11.13B $7.43B $5.86B $3.92B $3.37B $2.61B $2.13B $2.06B $1.84B
Operating Income 12-point trend, +17078.8% $130.39B $81.45B $32.97B $4.22B $10.04B $4.53B $2.85B $3.80B $3.21B $1.93B $747M $759M
Interest Expense 10-point trend, +458.7% · · $257M $262M $236M $184M $52M $58M $61M $58M $47M $46M
Interest Income 12-point trend, +8114.3% $2.30B $1.79B $866M $267M $29M $57M $178M $136M $69M $54M $39M $28M
Other Non-op 12-point trend, +64342.9% $9.02B $1.03B $237M $-48M $107M $4M $-2M $14M $-22M $-25M $4M $14M
Pretax Income 12-point trend, +18635.1% $141.45B $84.03B $33.82B $4.18B $9.94B $4.41B $2.97B $3.90B $3.20B $1.91B $743M $755M
Income Tax 12-point trend, +17144.4% $21.38B $11.15B $4.06B $-187M $189M $77M $174M $-245M $149M $239M $129M $124M
Net Income 12-point trend, +18928.1% $120.07B $72.88B $29.76B $4.37B $9.75B $4.33B $2.80B $4.14B $3.05B $1.67B $614M $631M
EPS (Basic) 12-point trend, +332.5% $4.93 $2.97 $1.21 $0.18 $3.91 $1.76 $1.15 $6.81 $5.09 $3.08 $1.13 $1.14
EPS (Diluted) 12-point trend, +337.5% $4.90 $2.94 $1.19 $0.17 $3.85 $1.73 $1.13 $6.63 $4.82 $2.57 $1.08 $1.12
Shares (Basic) 12-point trend, +4312.9% 24,359,000,000 24,555,000,000 24,690,000,000 24,870,000,000 2,496,000,000 2,467,000,000 2,439,000,000 608,000,000 599,000,000 541,000,000 543,000,000 552,000,000
Shares (Diluted) 12-point trend, +4254.2% 24,514,000,000 24,804,000,000 24,940,000,000 25,070,000,000 2,535,000,000 2,510,000,000 2,472,000,000 625,000,000 632,000,000 649,000,000 569,000,000 563,000,000
EBITDA 12-point trend, +17453.6% $133.23B $83.32B $34.48B $5.77B $11.21B $4.53B $2.85B $3.80B $3.21B $1.93B $747M $759M
Balance Sheet 32
Annual Balance Sheet data for NVDA
Metric Trend 202620252024202320222021202020192018201720162015
Cash & Equivalents 12-point trend, +2033.8% $10.61B $8.59B $7.28B $3.39B $1.99B $847M $10.90B $782M $4.00B $1.77B $596M $497M
Short-term Investments 11-point trend, +739.1% · $34.62B $18.70B $9.91B $19.22B $10.71B $1M $6.64B $3.11B $5.03B $4.44B $4.13B
Receivables 12-point trend, +8015.2% $38.47B $23.07B $10.00B $3.83B $4.65B $2.43B $1.66B $1.42B $1.26B $826M $505M $474M
Inventory 12-point trend, +4331.3% $21.40B $10.08B $5.28B $5.16B $2.60B $1.83B $979M $1.57B $796M $794M $418M $483M
Prepaid Expense 12-point trend, +4442.9% $3.18B $3.77B $3.08B $791M $366M $239M $157M $136M $86M $118M $93M $70M
Other Current Assets 6-point trend, +6.6% · · · · · $97M · $108M $319M $62M $67M $91M
Current Assets 12-point trend, +2098.6% $125.61B $80.13B $44.34B $23.07B $28.83B $16.05B $13.69B $10.56B $9.26B $8.54B $6.05B $5.71B
PP&E (Net) 12-point trend, +1764.1% $10.38B $6.28B $3.91B $3.81B $2.78B $2.15B $1.67B $1.40B $997M $521M $466M $557M
PP&E (Gross) 12-point trend, +1339.4% $16.97B $10.68B $7.42B $6.50B $4.68B $3.56B $2.69B $2.17B $1.74B $1.19B $1.10B $1.18B
Accum. Depreciation 12-point trend, +959.0% $6.59B $4.40B $3.51B $2.69B $1.90B $1.41B $1.01B $767M $740M $670M $634M $622M
Goodwill 12-point trend, +3270.9% $20.83B $5.19B $4.43B $4.37B $4.35B $4.19B $618M $618M $618M $618M $618M $618M
Intangibles 12-point trend, +1389.2% $3.31B $807M $1.11B $1.68B $2.34B $2.74B $49M $45M $52M $104M $166M $222M
Other Non-current Assets 12-point trend, +9022.0% $8.30B $3.04B $4.50B $3.82B $3.84B $2.14B $118M $108M $319M $62M $67M $91M
Total Assets 12-point trend, +2771.9% $206.80B $111.60B $65.73B $41.18B $44.19B $28.79B $17.32B $13.29B $11.24B $9.84B $7.37B $7.20B
Accounts Payable 12-point trend, +3248.8% $9.81B $6.31B $2.70B $1.19B $1.78B $1.15B $687M $511M $596M $485M $296M $293M
Accrued Liabilities 12-point trend, +3441.0% $21.35B $11.74B $6.68B $4.12B $2.55B $1.78B $1.10B $818M $542M $507M $642M $603M
Short-term Debt Flat — no change across 7 periods · $0 $0 $0 $0 $0 $0 $0 · · · ·
Current Liabilities 12-point trend, +3489.6% $32.16B $18.05B $10.63B $6.56B $4.33B $3.92B $1.78B $1.33B $1.15B $1.79B $2.35B $896M
Capital Leases 11-point trend, +18271.4% $2.57B $1.52B $1.12B $902M $741M $634M $561M $0 · $6M $10M $14M
Deferred Tax 12-point trend, +664.7% $1.77B $886M $462M $247M $245M $241M $29M $19M $18M $141M $301M $232M
Other Non-current Liabilities 12-point trend, +1394.1% $7.31B $4.25B $2.54B $1.91B $1.55B $1.38B $775M $633M $632M $277M $453M $489M
Total Liabilities 12-point trend, +1679.0% $49.51B $32.27B $22.75B $19.08B $17.57B $11.90B $5.11B $3.95B $3.77B $4.05B $2.81B $2.78B
Long-term Debt 12-point trend, +511.8% $8.47B $8.46B $9.71B $10.95B $10.95B $6.96B $1.99B $1.99B $1.99B $1.98B $0 $1.38B
Total Debt 8-point trend, +8468000000.00 $8.47B $8.46B $9.71B $10.95B $10.95B $6.96B $0 $0 · · · ·
Common Stock 12-point trend, +2300.0% $24M $24M $25M $2M $3M $3M $1M $1M $1M $1M $1M $1M
Paid-in Capital 12-point trend, +162.5% $10.12B $11.24B $13.11B $11.97B $10.38B $8.72B $7.04B $6.05B $5.35B $4.71B $4.17B $3.85B
Retained Earnings 12-point trend, +3621.8% $146.97B $68.04B $29.82B $10.17B $16.23B $18.91B $14.97B $12.56B $8.79B $6.11B $4.35B $3.95B
Treasury Stock 8-point trend, -100.0% · · · · $0 $10.76B $9.81B $9.26B $6.65B $5.04B $4.05B $3.40B
AOCI 12-point trend, +2125.0% $178M $28M $27M $-43M $-11M $19M $1M $-12M $-18M $-16M $-4M $8M
Stockholders' Equity 12-point trend, +3460.3% $157.29B $79.33B $42.98B $22.10B $26.61B $16.89B $12.20B $9.34B $7.47B $5.76B $4.47B $4.42B
Liabilities + Equity 12-point trend, +2771.9% $206.80B $111.60B $65.73B $41.18B $44.19B $28.79B $17.32B $13.29B $11.24B $9.84B $7.37B $7.20B
Shares Outstanding 12-point trend, +4359.4% 24,304,000,000 24,477,000,000 24,643,000,000 24,661,000,000 25,064,000,000 2,479,000,000 2,450,000,000 2,423,000,000 606,000,000 585,000,000 539,000,000 545,000,000
Cash Flow 19
Annual Cash Flow data for NVDA
Metric Trend 202620252024202320222021202020192018201720162015
D&A 12-point trend, +1192.3% $2.84B $1.86B $1.51B $1.54B $1.17B $1.10B $381M $262M $199M $187M $197M $220M
Stock-based Comp 12-point trend, +3941.8% $6.39B $4.74B $3.55B $2.71B $2.00B $1.40B $844M $557M $391M $247M $204M $158M
Deferred Tax 12-point trend, -1815.7% $-1.42B $-4.48B $-2.49B $-2.16B $-406M $-282M $18M $-315M $-359M $197M $134M $83M
Amort. of Intangibles 12-point trend, +533.8% $488M $593M $614M $699M $563M $612M $25M $29M $55M $68M $73M $77M
Restructuring 5-point trend, +0.00 · · · · · · · $0 $0 $3M $131M $0
Other Non-cash 5-point trend, -636.4% $-25.15B $-10.91B $-4.24B $-816M $-3.42B · · · · · · ·
Operating Cash Flow 12-point trend, +11237.5% $102.72B $64.09B $28.09B $5.64B $9.11B $5.82B $4.76B $3.74B $3.50B $1.67B $1.18B $906M
CapEx 5-point trend, +519.1% $6.04B $3.24B $1.07B $1.83B $976M · · · · · · ·
Investing Cash Flow 12-point trend, -7084.0% $-52.23B $-20.42B $-10.57B $7.38B $-9.83B $-19.68B $6.14B $-4.10B $1.28B $-793M $-400M $-727M
Debt Issued Flat — no change across 4 periods · · · · · · $1.98B $1.98B $1.98B $1.98B · ·
Net Debt Issued Flat — no change across 4 periods · · · · · · $1.98B $1.98B $1.98B $1.98B · ·
Stock Repurchased 12-point trend, +4824.6% $40.09B $33.71B $9.53B $10.04B $0 $0 $0 $1.58B $909M $739M $587M $814M
Net Stock Activity 11-point trend, -4827.0% $-40.09B $-33.71B $-9.53B $-10.04B · $0 $0 $-1.58B $-909M $-739M $-587M $-814M
Dividends Paid 12-point trend, +423.7% $974M $834M $395M $398M $399M $395M $390M $371M $341M $261M $213M $186M
Financing Cash Flow 12-point trend, -5712.2% $-48.47B $-42.36B $-13.63B $-11.62B $1.86B $3.80B $-792M $-2.87B $-2.54B $291M $-676M $-834M
Net Change in Cash 12-point trend, +407.8% $2.02B $1.31B $3.89B $1.40B $1.14B $-10.05B $10.11B $-3.22B $2.24B $1.17B $99M $-655M
Taxes Paid 12-point trend, +144814.3% $20.29B $15.12B $6.55B $1.40B $396M $249M $176M $61M $22M $14M $14M $14M
Free Cash Flow 3-point trend, +257.8% $96.68B $60.85B $27.02B · · · · · · · · ·
Levered FCF · · $26.79B · · · · · · · · ·
Profitability 8
Annual Profitability data for NVDA
Metric Trend 202620252024202320222021202020192018201720162015
Gross Margin 12-point trend, +28.0% 71.1% 75.0% 72.7% 56.9% 64.9% 62.3% 62.0% 61.2% 59.9% 58.8% 56.1% 55.5%
Operating Margin 12-point trend, +272.5% 60.4% 62.4% 54.1% 15.7% 37.3% 27.2% 26.1% 32.5% 33.1% 28.0% 14.9% 16.2%
Net Margin 12-point trend, +312.8% 55.6% 55.9% 48.9% 16.2% 36.2% 26.0% 25.6% 35.3% 31.4% 24.1% 12.3% 13.5%
Pretax Margin 12-point trend, +306.3% 65.5% 64.4% 55.5% 15.5% 36.9% 26.4% 27.2% 33.2% 32.9% 27.6% 14.8% 16.1%
EBITDA Margin 12-point trend, +280.6% 61.7% 63.8% 56.6% 21.4% 41.7% 27.2% 26.1% 32.5% 33.1% 28.0% 14.9% 16.2%
ROA 12-point trend, +763.9% 75.4% 82.2% 55.7% 10.2% 26.7% 18.8% 18.3% 33.8% 28.9% 19.4% 8.4% 8.7%
ROE 12-point trend, +556.4% 93.3% 100.4% 78.1% 20.1% 38.7% 26.9% 23.9% 44.0% 46.1% 32.6% 13.8% 14.2%
ROIC 12-point trend, +365.3% 66.8% 80.5% 55.1% 13.4% 26.2% 18.7% 21.9% 43.3% 41.0% 29.3% 13.8% 14.3%
Liquidity & Solvency 5
Annual Liquidity & Solvency data for NVDA
Metric Trend 202620252024202320222021202020192018201720162015
Current Ratio 12-point trend, -38.8% 3.9 4.4 4.2 3.5 6.7 4.1 7.7 7.9 8.0 4.8 2.6 6.4
Quick Ratio 12-point trend, -73.2% 1.5 3.7 3.4 2.6 6.0 3.6 7.0 6.7 7.3 4.3 2.4 5.7
Debt / Equity 8-point trend, +0.05 0.1 0.1 0.2 0.5 0.4 0.4 0.0 0.0 · · · ·
LT Debt / Equity 6-point trend, -86.5% 0.0 0.1 0.2 0.4 0.4 0.4 · · · · · ·
Interest Coverage 10-point trend, +679.8% · · 128.3 16.1 42.5 24.6 54.7 65.6 52.6 33.3 15.9 16.5
Efficiency 3
Annual Efficiency data for NVDA
Metric Trend 202620252024202320222021202020192018201720162015
Asset Turnover 12-point trend, +109.4% 1.4 1.5 1.1 0.6 0.7 0.7 0.7 1.0 0.9 0.8 0.7 0.6
Inventory Turnover 12-point trend, -17.0% 4.0 4.2 3.2 3.0 4.3 4.5 3.2 3.8 4.9 4.7 4.9 4.8
Receivables Turnover 12-point trend, -32.5% 7.0 7.9 8.8 6.4 7.6 8.2 7.1 8.7 9.3 10.4 10.2 10.4
Per Share 7
Annual Per Share data for NVDA
Metric Trend 202620252024202320222021202020192018201720162015
Book Value / Share 12-point trend, -20.2% $6.47 $3.24 $17.44 $8.96 $10.62 $27.25 $19.94 $15.42 $12.33 $9.85 $8.29 $8.11
Revenue / Share 12-point trend, +5.9% $8.81 $5.26 $24.43 $10.76 $10.62 $26.55 $17.67 $18.75 $15.37 $10.65 $8.80 $8.31
Cash Flow / Share 12-point trend, +160.5% $4.19 $2.58 $11.26 $2.25 $3.59 $9.27 $7.70 $5.99 $5.54 $2.58 $2.06 $1.61
Cash / Share 12-point trend, -52.1% $0.44 $0.35 $2.95 $1.37 $0.79 $1.37 $17.80 $1.29 $6.60 $3.02 $1.11 $0.91
Dividend / Share 7-point trend, -88.2% $0 $0 $0 $0 $0 · · · · · $0 $0
Dividend Paid / Share 10-point trend, -52.9% · · $0 $0 $0 $0 $0 $1 $1 $0 $0 $0
EPS (TTM) 12-point trend, +337.5% $4.90 $2.94 $1.19 $0.17 $3.85 $1.73 $1.13 $6.63 $4.82 $2.57 $1.08 $1.12
Growth Rates 10
Annual Growth Rates data for NVDA
Metric Trend 202620252024202320222021202020192018201720162015
Revenue YoY 5-point trend, +6.6% 65.5% 114.2% 125.8% 0.22% 61.4% · · · · · · ·
Revenue CAGR 3Y 3-point trend, +85.2% 100.0% 69.2% 54.0% · · · · · · · · ·
Revenue CAGR 5Y 66.9% · · · · · · · · · · ·
EPS YoY 5-point trend, -45.6% 66.7% 147.1% 600.0% -95.6% 122.5% · · · · · · ·
EPS CAGR 3Y 3-point trend, +1861.4% 206.6% -8.6% -11.7% · · · · · · · · ·
EPS CAGR 5Y 23.2% · · · · · · · · · · ·
Net Income YoY 5-point trend, -48.2% 64.8% 144.9% 581.3% -55.2% 125.1% · · · · · · ·
Net Income CAGR 3Y 3-point trend, +124.0% 201.8% 95.5% 90.1% · · · · · · · · ·
Net Income CAGR 5Y 94.3% · · · · · · · · · · ·
Dividend CAGR 5Y 19.8% · · · · · · · · · · ·
Valuation (TTM) 17
Annual Valuation (TTM) data for NVDA
Metric Trend 202620252024202320222021202020192018201720162015
Revenue TTM 12-point trend, +4512.1% $215.94B $130.50B $60.92B $26.97B $26.91B $16.68B $10.92B $11.72B $9.71B $6.91B $5.01B $4.68B
Net Income TTM 12-point trend, +18928.1% $120.07B $72.88B $29.76B $4.37B $9.75B $4.33B $2.80B $4.14B $3.05B $1.67B $614M $631M
Market Cap 12-point trend, +1618152.2% $4.57T $3.49T $150.38B $50.22B $57.24B $8.05B $3.83B $2.43B $3.69B $1.63B $395M $282M
Enterprise Value 8-point trend, +91454.7% $4.56T $3.46T $134.11B $47.88B $46.98B $3.46B $-7.06B $-5.00B · · · ·
P/E 12-point trend, +8193.5% 38.3 48.5 51.3 119.8 5.9 7.5 5.5 0.6 1.3 1.1 0.7 0.5
P/S 12-point trend, +34966.2% 21.1 26.8 2.5 1.9 2.1 0.5 0.4 0.2 0.4 0.2 0.1 0.1
P/B 12-point trend, +45328.2% 29.0 44.0 3.5 2.3 2.2 0.5 0.3 0.3 0.5 0.3 0.1 0.1
P / Tangible Book 6-point trend, +4141.8% 34.3 47.6 4.0 3.1 2.9 0.8 · · · · · ·
P / Cash Flow 12-point trend, +14170.2% 44.5 54.5 5.4 8.9 6.3 1.4 0.8 0.6 1.1 1.0 0.3 0.3
P / FCF 3-point trend, +748.6% 47.2 57.4 5.6 · · · · · · · · ·
EV / EBITDA 8-point trend, +2708.4% 34.3 41.5 3.9 8.3 4.2 0.8 -2.5 -1.3 · · · ·
EV / FCF 3-point trend, +851.2% 47.2 56.8 5.0 · · · · · · · · ·
EV / Revenue 8-point trend, +5056.6% 21.1 26.5 2.2 1.8 1.7 0.2 -0.6 -0.4 · · · ·
Dividend Yield 12-point trend, -100.0% 0.02% 0.02% 0.26% 0.79% 0.70% 4.9% 10.2% 15.3% 9.2% 16.0% 54.0% 65.9%
Earnings Yield 12-point trend, -98.8% 2.6% 2.1% 1.9% 0.83% 16.9% 13.3% 18.1% 165.6% 79.2% 92.0% 147.5% 216.3%
Payout Ratio 12-point trend, -97.3% 0.81% 1.1% 1.3% 9.1% 4.1% 9.1% 14.0% 9.0% 11.2% 15.7% 34.7% 29.6%
Annual Payout 12-point trend, +423.7% $974M $834M $395M $398M $399M $395M $390M $371M $341M $261M $213M $186M

Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years

Income Statement
2026-01-252025-01-262024-01-282023-01-292022-01-30
Revenue $215.94B$130.50B$60.92B$26.97B$26.91B
Gross Margin % 71.1%75.0%72.7%56.9%64.9%
Operating Margin % 60.4%62.4%54.1%15.7%37.3%
Net Income $120.07B$72.88B$29.76B$4.37B$9.75B
Diluted EPS $4.90$2.94$1.19$0.17$3.85
Balance Sheet
2026-01-252025-01-262024-01-282023-01-292022-01-30
Debt / Equity 0.10.10.20.50.4
Current Ratio 3.94.44.23.56.7
Quick Ratio 1.53.73.42.66.0
Cash Flow
2026-01-252025-01-262024-01-282023-01-292022-01-30
Free Cash Flow $96.68B$60.85B$27.02B——

NVDA AI Analyst Panel — Bullish and Bearish Views 2026Q2 debate: Claude, Grok, Gemini, ChatGPT on the stock's prospects

Round 1 — Opening Takes

Grok NEUTRAL 0.85
↑ Bullish

I see the strongest bull case for NVDA as its ironclad AI chip dominance fueling sustained hyper-growth into 2026Q2. Its 104% ROE means Nvidia converts shareholder equity into profits at a rate most hardware firms dream of, thanks to pricing power in data centers. Gross margin stays rock-solid at 70%, showing the moat holds even as volumes explode. P/E of 45.7 trails AVGO's 71, making it relatively cheap for Nvidia's EPS trajectory that's still climbing.

↓ Bearish

The bear case hits hardest if AI demand plateaus and rivals chip away at Nvidia's lead, cratering these lofty multiples. P/B ratio at 36.6 signals the market prices in perfection, vulnerable if growth stutters like peers AMD or INTC. Debt/equity down to 7% looks clean but masks reliance on buybacks to juice that 104% ROE. Peers like MU trade at 27 P/E with half the ROE, hinting Nvidia's premium could unwind fast.

Claude NEUTRAL 0.68
↑ Bullish

Nvidia has built a moat that turns shareholder capital into profit at a rate almost no other hardware company can match. My read is the 104% ROE tells you this isn't just a cyclical chip maker — it's a pricing-power machine. Even at 45.7 times trailing earnings, that multiple is reasonable if you believe the AI infrastructure cycle has five-plus years of runway. The stock climbed 11 consecutive sessions without precedent in its 26-year history, and the market is pricing in sustained demand, not a bubble pop. Debt-to-equity dropped to 7.1 from 10.1 in six months, showing management is de-risking the balance sheet while earnings per share grew. That combination — fortress margins, fortress balance sheet, genuine secular tailwind — is what I'm watching.

↓ Bearish

The valuation already prices in perfection, and perfection is fragile. I'm concerned that at 45.7 times trailing earnings, Nvidia is betting the entire AI infrastructure cycle stays on the rails for years without a single major disappointment. Compare that to Broadcom at 71 times — yes, higher — but Broadcom has half the ROE and a stickier customer base. The real risk isn't that Nvidia slows; it's that it slows from hypergrowth to merely-excellent growth, and the multiple compresses. Gross margins sit at 70%, which is extraordinary, but that level is a target for competitors and customers alike. If AMD or Intel gain even modest share, or if cloud capex cycles, Nvidia's valuation math breaks fast. The stock's 11-day rally is a warning flag, not a green light — that kind of momentum often precedes a shakeout.

Gemini NEUTRAL 0.75
↑ Bullish

Nvidia is effectively printing money at a scale that defies standard hardware industry cycles. The company is generating a 103.8% return on equity. This means they are turning every dollar of shareholder capital into more than a dollar of profit, which is an incredible feat for a hardware-focused business. Furthermore, their net profit margin sits at 53.01%. This indicates that over half of every dollar in revenue is hitting the bottom line, showcasing the massive pricing power they hold in the AI infrastructure market.

↓ Bearish

The market has already priced in perfection, leaving almost no margin for error in the coming quarters. Nvidia trades at a 45.7 trailing price-to-earnings multiple. This implies investors are paying a significant premium for future growth, betting that the current AI spending boom will continue indefinitely. Additionally, the debt-to-equity ratio of 7.12 is worth monitoring. While it has improved, it remains a high level of leverage that could become a liability if market demand for their high-end chips hits a sudden, unexpected plateau.

Chatgpt NEUTRAL 0.72
↑ Bullish

I think Nvidia's AI-driven demand moat and margin power make this stock a rare growth story in hardware. ROE TTM is 103.8%. That shows the company turns equity into profit at a rate well above peers, signaling an efficient capital engine. Gross margin TTM is 70.32%. That high margin gives Nvidia resilience to volume mix shifts and preserves cash to fund growth or buybacks. EPS TTM is 4.0375 per share. That uptrend implies earnings momentum into 2026, supporting continued earnings-per-share growth and potential for multiple support if AI demand stays robust.

↓ Bearish

I think the bear case is that Nvidia's price has priced in an outsized AI growth tailwind and could crack if that tailwind fades. P/E TTM is 45.69x. That premium implies investors are paying up for Nvidia's growth, so any slowdown or skepticism about AI adoption can push the multiple down. P/S TTM is 24.22x. That high sales multiple requires healthy top-line expansion to justify; any softening in top-line or skepticism about the AI TAM could weigh on price. Debt/Equity is 7.12. That leverage level means downside risk is magnified if margins compress or rates rise.

Round 2 — Responses & Rebuttals

Grok

Claude, your Broadcom comparison misses Nvidia's clear valuation edge. AVGO carries a 71 P/E despite just 31% ROE, meaning investors pay more for far less profit generation from equity. Nvidia delivers 104% ROE at only 45.7 times earnings, a bargain that reflects its AI moat's durability into 2026Q2 rather than overpricing perfection.

Claude

I need to push back on Grok here — you said Nvidia's 104% ROE is clean capital efficiency, but then you buried the real story: you admitted buybacks are juicing that number. That's the opposite of clean. If Nvidia is converting $1.04 of shareholder equity into profit partly because it's shrinking the equity base through repurchases rather than growing intrinsic value, we're not looking at pricing power — we're looking at financial engineering. The 7.12 debt-to-equity ratio you called 'clean' actually funds those buybacks. Strip out the buyback effect and the real ROE is lower, which means the moat looks less fortress-like than the headline number suggests. That matters for valuation.

Gemini

Grok, I think your bullish verdict overlooks the structural danger of that 36.56 price-to-book ratio. This metric measures the price investors pay for the company’s net assets, and at this level, it suggests the market is valuing Nvidia almost entirely on intangible future expectations rather than physical book value. While you see a bargain relative to Broadcom, you are ignoring that a P/B this high leaves absolutely no cushion for a valuation reset if the AI spending cycle faces even a minor hiccup in 2026.

Chatgpt

Claude, your rally alert misses the underlying demand signal. ROE is 103.8%. That shows Nvidia is turning equity into profits at a rate far above hardware peers, which supports a higher multiple if AI spending stays robust. I still watch for demand fatigue or capex shifts that could pressure margins, because high returns on capital alone don't guarantee a durable premium. If AI capex slows, the valuation could compress, but earnings momentum and liquidity still argue for selective exposure rather than a blanket exit.

Round 3 — Final Rebuttals

G
Grok

Claude, your push that buybacks and debt are juicing Nvidia's ROE misses the operational reality. EPS TTM rose to 4.0375 from 3.10 over the last year. That per-share profit surge reflects genuine earnings expansion, not just share shrinkage. Debt-to-equity fell to 7.12 from 10.1. Deleveraging without ROE erosion confirms the 104% return stems from business strength, not financial tricks — that's why I stick with buy.

C
Claude

I want to push back on something nobody's touched yet — customer concentration. Nvidia's top three customers likely account for 40-50% of revenue, with hyperscalers like Microsoft, Google, and Meta driving the AI capex cycle. That's not a moat; that's a dependency. If even one of those three pulls back on GPU orders in 2026 to optimize utilization or shift to custom silicon — and we know they're all working on it — Nvidia's revenue doesn't just slow, it drops off a cliff. The 70% gross margin and 104% ROE assume that capex stays frothy. But hyperscalers are getting smarter about their spend. That risk isn't priced into a 45.7 P/E the way I think it should be. Grok, your bargain thesis assumes the AI cycle is linear. I'm not convinced it is.

G
Gemini

I want to pivot us to the customer concentration risk that everyone is ignoring. Nvidia’s reliance on a handful of hyperscalers—Microsoft, Meta, and Alphabet—creates a massive single-point-of-failure for their revenue growth. If these three companies decide to throttle their capital expenditure in 2026, Nvidia’s top line will face an immediate, sharp contraction. Even with a current ratio of 4.47, which shows they have plenty of cash to cover short-term bills, they cannot simply replace that level of concentrated demand. Claude and Grok, we are debating the moat, but the moat is only as strong as the customers filling it.

C
Chatgpt

Grok, I challenge your claim that Nvidia's P/E of 45.7x is cheap given the EPS trajectory. That 45.7x multiple prices in several years of above-market growth, and any slowdown would compress the multiple. For NVDA, that implies the business needs a sustained AI capex cycle to justify the multiple; a modest demand hiccup or a shift in cloud budgets could snap the gains. I remain cautious on calling it cheap until the growth path remains clearly intact.

Price Forecasts

Model 3M Target 6M Target Reasoning
G Grok 3M Target $195.00 6M Target $235.00 Reasoning I think Nvidia's pricing power in AI chips will propel shares higher through 2026Q2 as demand outpaces supply. The key catalyst is the Q2 FY2026 earnings report in late August 2025, where data center revenue guidance should exceed $30B if Blackwell ramp-up accelerates. The main risk is a hyperscaler capex cut, like Microsoft's Q1 FY2026 earnings in October 2025 signaling GPU order slowdowns. At 45.7 times trailing earnings, Nvidia trades at a discount to its growth trajectory versus AVGO's 71 P/E, meaning even modest EPS beats justify 20-40% upside from the $165 close.
C Claude 3M Target $128.00 6M Target $142.00 Reasoning Nvidia's moat is real, but it's a customer-concentration moat, not a pricing-power moat — and that distinction matters for 2026. My thesis: the stock re-rates lower as hyperscalers prove they can optimize capex without collapsing demand, but earnings still grow enough to support a modest price gain. The catalyst I'm watching is 2026Q2 earnings guidance in late May — if management signals capex normalization at Microsoft or Meta, the multiple compresses from 45.7x to 38–40x, but EPS growth keeps the stock afloat. The risk that breaks this: a major hyperscaler announces custom silicon adoption ahead of schedule, cutting Nvidia orders by 15%+ in H2 2026. At 45.7x trailing earnings, Nvidia is pricing in zero margin for error on customer concentration. My 3-month target of $128 assumes modest multiple compression; 6-month target of $142 assumes earnings growth offsets valuation reset.
G Gemini 3M Target $125.00 6M Target $140.00 Reasoning I believe Nvidia's valuation will drift higher as the market realizes that current AI infrastructure spending is not a temporary bubble but a multi-year capital cycle. My 6-month target relies on the upcoming 2026Q3 earnings report showing sustained demand from hyperscalers, which would validate their current growth trajectory. However, the risk is a pivot by major cloud providers toward internal custom silicon, which would instantly threaten their pricing power. The company trades at a 45.7 trailing price-to-earnings multiple, meaning investors are paying a significant premium that requires flawless execution to maintain. I am holding my position because the current liquidity levels provide a necessary buffer against volatility.
C Chatgpt 3M Target $125.00 6M Target $140.00 Reasoning I think Nvidia can push higher in the near term if the AI infrastructure cycle stays intact. Catalyst: a stronger-than-expected 2026Q2 earnings print with raised revenue guidance and evidence hyperscalers maintaining capex. Risk: a meaningful pullback in hyperscaler demand or a valuation reset could snap the rally. NVDA trades at about 45x trailing earnings. That implies investors are pricing in durable AI-driven growth and leaves little room for error. The path ahead hinges on the catalyst staying in play.

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