Financials NVIDIA Corporation

Equities

NVDA

US67066G1040

Semiconductors

Real-time Estimate Cboe BZX Other stock markets 09:36:33 2024-05-17 am EDT			5-day change	1st Jan Change
941.8 ^USD	-0.18%		+6.31%	+90.51%

03:20pm	Wall Street: on course for a fourth week of gains	CF
02:00pm	CoreWeave raises $7.5 billion debt from Blackstone, others	RE

Valuation

Fiscal Period: January	2020	2021	2022	2023	2024	2025	2026	2027
Capitalization ¹	151,758	323,143	571,000	501,183	1,507,466	2,321,075	-	-
Enterprise Value (EV) ¹	142,852	318,545	560,738	498,840	1,491,191	2,262,958	2,207,191	2,132,262
P/E ratio	54.9 x	75.7 x	59.3 x	117 x	51.2 x	40.7 x	32 x	26.4 x
Yield	0.26%	0.12%	0.07%	0.08%	-	0.02%	0.02%	0.02%
Capitalization / Revenue	13.9 x	19.4 x	21.2 x	18.6 x	24.7 x	20.6 x	16.4 x	13.9 x
EV / Revenue	13.1 x	19.1 x	20.8 x	18.5 x	24.5 x	20.1 x	15.6 x	12.8 x
EV / EBITDA	44.3 x	56.6 x	50 x	86.5 x	43.2 x	31.4 x	24.1 x	18.6 x
EV / FCF	33.4 x	67.9 x	69 x	131 x	55.2 x	41.6 x	31.6 x	27.2 x
FCF Yield	2.99%	1.47%	1.45%	0.76%	1.81%	2.41%	3.17%	3.68%
Price to Book	12.6 x	19.2 x	21.8 x	23.1 x	35.4 x	26.2 x	16.3 x	10.5 x
Nbr of stocks (in thousands)	2,448,000	2,476,000	2,500,000	2,461,000	2,470,000	2,459,834	-	-
Reference price ²	61.99	130.5	228.4	203.6	610.3	943.6	943.6	943.6
Announcement Date	2/13/20	2/24/21	2/16/22	2/22/23	2/21/24	-	-	-

¹USD in Million²USD

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: January	2020	2021	2022	2023	2024	2025	2026	2027
Net sales ¹	10,918	16,675	26,914	26,974	60,922	112,821	141,722	167,046
EBITDA ¹	3,227	5,630	11,215	5,768	34,480	72,064	91,658	114,491
EBIT ¹	3,735	6,803	12,690	9,040	37,134	73,705	90,832	105,390
Operating Margin	34.21%	40.8%	47.15%	33.51%	60.95%	65.33%	64.09%	63.09%
Earnings before Tax (EBT) ¹	2,970	4,409	9,941	4,181	33,818	68,959	86,547	98,494
Net income ¹	2,796	4,332	9,752	4,368	29,760	57,981	71,981	84,669
Net margin	25.61%	25.98%	36.23%	16.19%	48.85%	51.39%	50.79%	50.69%
EPS ²	1.130	1.725	3.850	1.740	11.93	23.21	29.48	35.71
Free Cash Flow ¹	4,272	4,694	8,132	3,808	27,021	54,439	69,903	78,513
FCF margin	39.13%	28.15%	30.21%	14.12%	44.35%	48.25%	49.32%	47%
FCF Conversion (EBITDA)	132.38%	83.37%	72.51%	66.02%	78.37%	75.54%	76.26%	68.58%
FCF Conversion (Net income)	152.79%	108.36%	83.39%	87.18%	90.8%	93.89%	97.11%	92.73%
Dividend per Share ²	0.1600	0.1600	0.1600	0.1600	-	0.1600	0.1662	0.1753
Announcement Date	2/13/20	2/24/21	2/16/22	2/22/23	2/21/24	-	-	-

¹USD in Million²USD

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: January	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2	2025 Q3	2025 Q4	2026 Q1
Net sales ¹	7,103	7,643	8,288	6,704	5,931	6,051	7,192	13,507	18,120	22,103	24,498	26,763	29,196	31,367	31,529
EBITDA ¹	-	-	-	-	-	-	-	-	-	14,002	15,898	16,959	18,359	19,659	22,794
EBIT ¹	3,386	3,677	3,955	1,325	1,536	2,224	3,052	7,776	11,557	14,749	16,333	17,522	19,159	20,627	20,691
Operating Margin	47.67%	48.11%	47.72%	19.76%	25.9%	36.75%	42.44%	57.57%	63.78%	66.73%	66.67%	65.47%	65.62%	65.76%	65.63%
Earnings before Tax (EBT) ¹	2,638	2,865	1,805	475	613	1,289	2,209	6,981	10,522	14,106	15,348	16,839	18,544	19,780	21,008
Net income ¹	2,464	3,003	1,618	656	680	1,414	2,043	6,188	9,243	12,285	12,834	13,764	14,825	15,855	16,487
Net margin	34.69%	39.29%	19.52%	9.79%	11.47%	23.37%	28.41%	45.81%	51.01%	55.58%	52.39%	51.43%	50.78%	50.55%	52.29%
EPS ²	0.9700	1.180	0.6400	0.2600	0.2700	0.5700	0.8200	2.480	3.710	4.930	5.185	5.582	6.027	6.451	6.680
Dividend per Share ²	0.0400	0.0400	0.0400	0.0400	0.0400	0.0400	0.0400	-	0.0400	-	0.0409	0.0409	0.0409	0.0419	0.0421
Announcement Date	11/17/21	2/16/22	5/25/22	8/24/22	11/16/22	2/22/23	5/24/23	8/23/23	11/21/23	2/21/24	-	-	-	-	-

¹USD in Million²USD

Estimates

Balance Sheet Analysis

Fiscal Period: January	2020	2021	2022	2023	2024	2025	2026	2027
Net Debt ¹	-	-	-	-	-	-	-	-
Net Cash position ¹	8,906	4,598	10,262	2,343	16,275	58,117	113,884	188,813
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-
Free Cash Flow ¹	4,272	4,694	8,132	3,808	27,021	54,439	69,903	78,513
ROE (net income / shareholders' equity)	33.2%	43.2%	51.8%	34.3%	99.3%	90.5%	71.6%	55.9%
ROA (Net income/ Total Assets)	18.3%	18.8%	30.9%	19.6%	60.4%	68.3%	57.3%	37%
Assets ¹	15,304	23,054	31,605	22,286	49,233	84,875	125,581	229,067
Book Value Per Share ²	4.940	6.810	10.50	8.820	17.20	36.00	58.00	89.90
Cash Flow per Share ²	1.930	2.320	3.590	2.250	11.30	23.70	33.10	45.20
Capex ¹	489	1,128	976	1,833	1,069	1,623	2,094	2,561
Capex / Sales	4.48%	6.76%	3.63%	6.8%	1.75%	1.44%	1.48%	1.53%
Announcement Date	2/13/20	2/24/21	2/16/22	2/22/23	2/21/24	-	-	-

¹USD in Million²USD

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for NVIDIA Corporation

Trading Rating

Investor Rating

ESG Refinitiv

B-

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

943.6 USD

Average target price

1,027 USD

Spread / Average Target

+8.87%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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