Information Technology · Semiconductors · US stock · price as of 16 Oct 2026
Key indicators
Price
$214.13
52-week range
$163.90 – $243.37
Market cap
$5.20T
P/E (trailing)
27.1×
EV / EBITDA
25.9×
Free-cash-flow yield
2.4%
Dividend yield
0.2%
Revenue (last 12 months)
$303.0B
Revenue growth (3y a year)
100.0%
Operating margin
65.2%
Return on invested capital
67.6%
Net debt / EBITDA
0.1×
Fair value
Blended fair value$162.34 range $148 – $178
Versus priceFair−24% to fair value
Peer multiples
$142.74
Fundamentals-adjusted multiple
$172.96
10-year DCF (market-scaled)
$171.31
Earnings power value (floor, not blended)
$36.34
Model uncertainty
High
X-Ray Score
65/ 100 · High confidence · ahead of 89% of sector peers
Valuation47
Growth93
Profitability61
Financial health66
Dividends68
Five-year price chart navy: price · brown: 200-day average · blue band: fair value range
Executive summary
Nvidia designs graphics processors and related software and systems. Its chips are used for gaming, professional visualization, automotive systems and, above all, accelerated computing and artificial intelligence in data centers. It does not run its own factories, relying on outside manufacturers. Revenue comes from selling chips, boards, networking equipment and software platforms to cloud providers, businesses and consumers.
Over the last twelve months Nvidia Corp reported revenue of $303.0 billion. Over three years revenue has grown by 100.0% a year. The operating margin is 65.2%. Return on invested capital is 68%. Net debt to EBITDA is 0.1 times. It pays a dividend with a yield of 0.2%. Return on invested capital describes how much profit the business earns relative to the money put into it.
StocksXray gives Nvidia Corp an X-Ray Score of 65 out of 100 (high confidence), ahead of 89% of the S&P 500 stocks in its sector. Its strongest lens is growth (93) and its weakest is valuation (47).
Our fair value blend is $162.34 (range $148.04 to $178.07). At $214.13 the stock trades 32% above that blend, so the label is "Fair" with high model uncertainty. Fair value is a range, not a price target.
XStocksXray
Nvidia Corp (NVDA)
Valuation history multiples at each fiscal year-end price; the last column uses today's price and the last twelve months
FY2022
FY2023
FY2024
FY2025
FY2026
Now
Price
$22.74
$20.30
$60.85
$142.25
$187.23
$214.13
Market cap
$57.6B
$508.9B
$1.52T
$3.53T
$4.59T
$5.20T
P/E
5.9×
119.4×
51.1×
48.4×
38.2×
27.1×
EV / revenue
1.8×
18.8×
24.6×
26.8×
21.2×
17.2×
EV / EBITDA
4.2×
87.8×
43.5×
41.9×
34.4×
25.9×
Price / free cash flow
7.1×
133.6×
56.2×
58.0×
47.5×
40.9×
Free-cash-flow yield
14.1%
0.7%
1.8%
1.7%
2.1%
2.4%
Price / book
2.2×
23.0×
35.3×
44.5×
29.2×
22.7×
Dividend yield
0.70%
0.08%
0.03%
0.02%
0.02%
0.24%
Fundamentals checklist ● 11 Good · ● 3 Average · ● 2 Bad · each check graded against the sector
Cash quality
Earnings backed by cash18.3%Bad
Free-cash-flow yield2.4%Average
Risk models
Altman Z score12.2×Good
Piotroski F-Score4 of 9Bad
Growth
EPS growth (3y)206.6%Good
Free-cash-flow growth (3y)193.9%Good
Revenue growth (3y)100.0%Good
Growth consistency100%Good
Balance sheet
Current ratio4.6×Good
Net debt / EBITDA0.1×Good
Interest coverno interest costGood
Valuation
Fair value vs price0.8×Average
EBIT / EV yield3.8%Average
Profitability
Return on invested capital67.6%Good
Operating margin65.2%Good
Gross profitability70.6%Good
Red flags
Borderline Beneish M-score — M-score -1.16 is mostly explained by fast sales growth. With growth held neutral it is -1.74, just above the -1.78 threshold, and fewer than two other warning components are elevated. A note, not a finding.
XStocksXray
Nvidia Corp (NVDA)
Financials US$ millions, from SEC filings; last column is the last twelve months
Income statement
FY22
FY23
FY24
FY25
FY26
LTM
Revenue
26,914
26,974
60,922
130,497
215,938
302,969
Gross profit
17,475
15,356
44,301
97,858
153,463
226,241
Operating income
10,041
4,224
32,972
81,453
130,387
197,579
Net income
9,752
4,368
29,760
72,880
120,067
192,879
Diluted EPS ($)
3.85
0.17
1.19
2.94
4.90
7.90
Free cash flow
8,132
3,808
27,021
60,853
96,676
127,006
Gross margin
64.9%
56.9%
72.7%
75.0%
71.1%
74.7%
Operating margin
37.3%
15.7%
54.1%
62.4%
60.4%
65.2%
Net margin
36.2%
16.2%
48.8%
55.8%
55.6%
63.7%
Balance sheet
FY22
FY23
FY24
FY25
FY26
LTM
Total assets
44,187
41,182
65,728
111,601
206,803
320,272
Cash
1,990
3,389
7,280
8,589
10,605
22,443
Total debt
10,946
10,953
9,709
8,463
8,468
33,366
Equity
26,612
22,101
42,978
79,327
157,293
228,984
Dividend per share ($)
0.16
0.02
0.02
0.03
0.04
0.28
Revenue and net income US$ billions: navy revenue, teal net income
Return on invested capital of 67.6% is ahead of 88% of its sector peers.
Operating margin of 65.2% is ahead of 97% of its sector peers.
Revenue growth of 100.0% a year over three years is ahead of 98% of its sector peers.
Interest cover of no interest cost is ahead of 98% of its sector peers.
Net debt is only 0.1× EBITDA, ahead of 70% of its sector peers.
Has raised its dividend for 7 years in a row.
Risks and weak spots
Earnings backed by cash is weak against Information Technology peers (18.3%).
Piotroski F-Score is weak against Information Technology peers (4 of 9).
Red flag: Borderline Beneish M-score (M-score -1.16 is mostly explained by fast sales growth. With growth held neutral it is -1.74, just above the -1.78 threshold, and fewer than two other warning components are elevated. A note, not a finding.).
Every number comes from SEC filings, end-of-day prices and the StocksXray models described on the methodology page. The X-Ray Score ranks each metric against the company's own sector. Fair value blends three models and carries a typical error of about 40%, so treat it as a range. Analyst ratings, price targets and earnings-call summaries are not part of this report. Educational research, not financial advice; read the disclaimer.