NVIDIA (NVDA)
Forward P/E 18.02x (SECONDARY, stockanalysis.com) sits below the peer median of 20.25x, and trailing P/E 27.56x is roughly half NVDA's own 5-year average (~54.7x), despite the fastest delivered growth in the set — latest-quarter revenue +105.9% YoY at a 75.0% gross margin (primary, EDGAR). PEG 0.36 is tied-lowest among the quality peers, and AI-compute demand is rising with NVDA at the centre of the compute wave.
What would change this label: Data-centre-led revenue growth decelerating below ~+25% YoY for two consecutive quarters, or hyperscaler capex guides being cut, while the forward P/E holds above ~18x -> re-rate FAIRLY PRICED, then OVERVALUED if the multiple re-rates up on slowing growth.
NVIDIA is growing faster than any of its rivals - sales more than doubled in the latest quarter - yet its shares trade on a lower earnings multiple than the typical rival and at about half the multiple the stock itself averaged over the past five years. On the numbers, the market is charging less for NVIDIA's earnings than for its peers'. The catch is size: at about $5.25 trillion the company must keep the AI build-out going to hold even this price.
Both lines start at 100 on 2020-09-01. Over the full window NVIDIA returned +1476.88% and the S&P 500 +118.28% (price returns; dividends not reinvested). Worst peak-to-trough fall for NVIDIA: -66.4% (2021-11-29 to 2022-10-14). Source: Nasdaq official daily history.
What the label rests on
Forward P/E 18.02x (SECONDARY, stockanalysis.com) sits below the peer median of 20.25x, and trailing P/E 27.56x is roughly half NVDA's own 5-year average (~54.7x), despite the fastest delivered growth in the set — latest-quarter revenue +105.9% YoY at a 75.0% gross margin (primary, EDGAR). PEG 0.36 is tied-lowest among the quality peers, and AI-compute demand is rising with NVDA at the centre of the compute wave. The company’s forward P/E is 18.0× against a peer median of 20.2×. Its own history: Trailing P/E 27.56x vs 12-month average ~34.8x, 3-year average ~45.7x and 5-year average ~54.7x (financecharts.com, SECONDARY, Oct 26-27 2026) - roughly half its own 5-year average. Sector demand read: Demand rising - AI compute is the centre of the Bottleneck Intelligence compute wave, and NVDA is that wave's centre; latest-quarter revenue +105.9% YoY (primary). Latest-quarter sales growth was +105.9% versus a year earlier (SEC filings).
| Company | Price (Oct 27, 2026) | Forward P/E | Trailing P/E |
|---|---|---|---|
| NVIDIA (NVDA) | $217.94 | 18.0× | 27.6× |
| AVGO | $342.33 | 19.7× | 43.7× |
| AMD | $560.26 | 50.4× | 143.8× |
| TSM | $436.87 | 20.2× | 29.1× |
| MU | $928.76 | 5.3× | 12.5× |
| INTC | $93.74 | 53.7× | — |
| Peer median | 20.2× |
Multiples: stockanalysis.com (SECONDARY, S&P Global data), fetched Oct 28, 2026. Peer set chosen by sector; the median is the middle value of the set. The label and its numbers were recorded in the programme’s label registry on Oct 28, 2026 and will be scored at 6 and 12 months.
Sales, profit and cash
Gross margin = gross profit divided by sales, from SEC filings.
Free cash flow = cash from operations minus spending on plant and equipment, both from the company’s SEC cash-flow statement. Gaps are quarters where that spending line is not separately tagged in the filings — shown as gaps, never estimated.
| Quarter | Sales | Gross margin | Net income | EPS (GAAP, diluted) | Free cash flow |
|---|---|---|---|---|---|
| Q/E Jul 2026 2026-07-26 | $96.2B | 75.0% | $59.7B | 2.46 | $21.4B |
| Q/E Apr 2026 2026-04-26 | $81.6B | 74.9% | $58.3B | 2.39 | $48.6B |
| Q/E Jan 2026 2026-01-25 | $68.1B | 75.0% | $43.0B | — | $34.9B |
| Q/E Oct 2025 2025-10-26 | $57.0B | 73.4% | $31.9B | 1.30 | $22.1B |
| Q/E Jul 2025 2025-07-27 | $46.7B | 72.4% | $26.4B | 1.08 | $13.5B |
| Q/E Apr 2025 2025-04-27 | $44.1B | 60.5% | $18.8B | 0.76 | $26.2B |
| Q/E Jan 2025 2025-01-26 | $39.3B | 73.0% | $22.1B | — | $15.6B |
| Q/E Oct 2024 2024-10-27 | $35.1B | 74.6% | $19.3B | 0.78 | $16.8B |
| Q/E Jul 2024 2024-07-28 | $30.0B | 75.2% | $16.6B | 0.67 | $13.5B |
| Q/E Apr 2024 2024-04-28 | $26.0B | 78.3% | $14.9B | 5.98 | $15.0B |
| Q/E Jan 2024 2024-01-28 | $22.1B | 76.0% | $12.3B | — | $11.2B |
| Q/E Oct 2023 2023-10-29 | $18.1B | 74.0% | $9.2B | 3.71 | $7.1B |
The last twelve reported quarters. Full 24-quarter history sits in the data pack behind this page. A dash means the figure is not tagged as a standalone quarter in the company’s SEC facts (the usual case is the fourth quarter, which many companies only report inside the full-year filing) — it is missing, not zero.
Earnings: getting better or worse?
Each box is one quarter’s earnings per share (EPS). Green means EPS was higher than the same quarter a year earlier; red means lower; a dash means the figure is not tagged in the filings.
Basis: GAAP diluted EPS from SEC company facts, compared with the same quarter a year earlier.
Key facts
| Item | Value |
|---|---|
| Company (legal name in filings) | NVIDIA CORP |
| Chief executive | Jensen Huang (source: Forbes NVIDIA company profile (CEO, President, and Founder: Jensen Huang), fetched via search Oct 28, 2026; corroborated by TECHi leadership profile) |
| Sector | Technology — Semiconductors - AI accelerators / accelerated computing |
| Share price (Oct 27, 2026) | $217.94 |
| Market value (market cap) | $5.25T — share price times shares outstanding of 24,100,000,000 (SEC filings; SEC EDGAR dei EntityCommonStockSharesOutstanding (latest)) |
| Sales, last twelve months | $303.0B |
| Net income, last twelve months | $192.9B |
| Free cash flow, last twelve months | $127.0B |
| Latest reported quarter | Q/E Jul 2026 (of 24 quarters in the data pack) |
| Six-year price return vs S&P 500 | +1476.88% vs +118.28% |
| Worst peak-to-trough fall | -66.4% (2021-11-29 to 2022-10-14) |
What we could not verify
- TTM GAAP diluted EPS could not be summed from company facts because at least one of the last four quarters (typically Q4) has no standalone tagged EPS; trailing P/E is therefore taken from the labelled secondary source in valuation_label.md.
- Free cash flow is absent for one or more quarters: either the filer does not separately tag PP&E purchases in its EDGAR cash-flow facts (common for banks), or — for a successor registrant's newest quarter — the cash-flow lines are year-to-date without the prior-quarter rung needed to difference them. Affected quarters are null in the data, never estimated.
- TTM GAAP diluted EPS could not be summed from SEC EDGAR company facts (standalone Q4 EPS not tagged); trailing P/E rests on the aggregator's TTM EPS of $7.91 (SECONDARY)
- Forward P/E by fiscal year (FY2027E/FY2028E EPS path) not pulled from the aggregator forecast page; headline statistics-page forward P/E used
- Own-history P/E averages are a single secondary source (financecharts.com) with small internal variance across its NVDA pages (3Y avg 45.4-47.0x, 5Y avg 54.4-55.7x)
- Guidance record (each quarter scored against the guidance the company gave the quarter before) is not yet compiled for this company — it is a Phase 2 layer. The earnings strip below therefore uses reported EPS versus a year earlier, which is fully sourced from filings.
The IT factor — the most exciting thing the market is overlooking — is not assessed on an X-Ray page. It belongs to the Deep Dive (Phase 2), where it gets the evidence standard it needs. Leadership-era scoring (the six years split by chief executive) is likewise a Phase 2 layer; this page names the current chief executive only, from a sourced profile.
Sources
- SEC EDGAR submissions — Filing index; company legal name.
https://data.sec.gov/submissions/CIK0001045810.json - SEC EDGAR company facts — Quarterly financial spine: revenue, gross profit, net income, GAAP diluted EPS, operating cash flow, PP&E capex, buybacks, dividends, diluted shares.
https://data.sec.gov/api/xbrl/companyfacts/CIK0001045810.json - Nasdaq official daily history — Daily closes for the company; SPY (assetclass=etf) saved as raw/nasdaq_spy_raw.json over identical dates.
https://api.nasdaq.com/api/quote/NVDA/historical?assetclass=stocks - Valuation multiples and peer figures — stockanalysis.com (SECONDARY, S&P Global data), fetched Oct 28, 2026; see valuation_label.md in the data pack.
Conventions: earliest-filed value per period, as first reported; cash-flow years-to-date differenced quarter by quarter; EPS never differenced; free cash flow = operating cash flow minus plant-and-equipment spending. This page is a dated snapshot — updates are new versions, never silent edits.