NVDA NVIDIA Corporation
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Daily prices, adjusted for splits. P/E and P/S value each day on the results published by then; a gap in P/E means the trailing year had no profit.
Semiconductors · Santa Clara, CA · 42,000 employees · nvidia.com
NVIDIA develops accelerated computing architectures, networking systems, and specialized software for global technology markets. The company generates revenue by selling graphics processors, data center systems, and computing platforms to equipment manufacturers, cloud service providers, and automotive customers.
Bull case
The business converts a significant portion of its revenue into free cash flow after accounting for stock compensation, while maintaining returns on capital well above its funding costs. It also serves as a primary beneficiary of artificial intelligence infrastructure spending by providing the core computing hardware required for complex workloads.
- Trades at the 20th percentile of its own valuation history.
- The price assumes about +19% a year cash-flow growth; it delivered +94% a year over three years.
- Valued below what companies with similar growth, margins and size trade at.
- Turns 40% of revenue into free cash after stock pay.
Bear case
Performance relies on the continuation of the artificial intelligence build-out, leaving the business vulnerable if infrastructure spending outpaces end-user returns or if customers shift toward custom silicon. The business would also face pressure if advanced memory supply constraints limit deliveries or if trade export controls further fragment international markets.
- Its sector cycle (AI Infrastructure CapEx) is in saturation.
- Recent evidence on “AI spending is outrunning its returns” works against it.
Features
- V-WIDE-MOAT Wide moat Returns on capital run well above its cost of capital.
- V-ACCELERATING Growth accelerating Annual revenue growth rose from +72% to +83%. Shared by most companies we track
- H-FORTRESS Fortress balance sheet It holds more cash than debt and is profitable.
- F-UPSIDE Analyst upside Analysts' average target is 43% above the price.
- T8 Lazarus Cheap against its own history, and the price trend has turned up.
AI impact
Supplies what AI runs on Tailwind
The company sells computing and networking platforms that power artificial intelligence workloads. It benefits from strong customer demand for the processors and data center systems used to train and run models, but its business depends heavily on ongoing customer investment in expanding computing infrastructure.
Where AI helps it
- Sells what AI workloads consume
Where AI could hurt it
- Depends on the AI build-out continuing
In the company's words
All major cloud service providers, or CSPs, AI model makers, and enterprises use our data center-scale infrastructure and computing platforms to accelerate the services and offerings they deliver to billions of end users and customers, including AI solutions and assistants, AI foundation models…
These limitations could delay customer and partner deployments or reduce the scale of accelerated computing and AI adoption and may impact the growth of our revenue.
Assessed by AI from the company's own annual report filed 25 Feb 2026 and quarterly report filed 26 Aug 2026. A reading of the business, not a forecast or a recommendation.
Valuation position
NVDA is at the 20th percentile of its own valuation history. Depending on how far back you look, it ranges from the 8th to the 45th percentile. This is a relative measurement, not a price target or recommendation, and it assumes the business is still the one its history describes.
Price ladder
The measured price sits in the Reference zone. These are reference zones, not buy instructions or forecasts that the prices will be reached.
What the price assumes
The measured price implies roughly +18.5% annual cash-flow growth, between +11.2% and +24.0% under other reasonable assumptions. Over the last three years it delivered +94.0% a year.
An estimate that depends on its assumptions, not a forecast.
Quality versus peers
Each dimension is shown on its own; they are not combined into a score.
Current analyst snapshot
Shown for reference only; not used in any measurement.
What would have to break
- Not triggered — Revenue decline
- Not triggered — Margin break
- Not triggered — Cash burn with rising debt
- Not triggered — Heavy dilution
- Not triggered — Warning language in filings
News
No recent brief on this company.