Financials NVIDIA Corporation

Equities

NVDA

US67066G1040

Semiconductors

Market Closed - Nasdaq Other stock markets 04:00:00 2024-05-10 pm EDT			After market 07:58:43 pm
898.8 ^USD	+1.27%		897.4	-0.15%

May. 10	Tech Advances as AI Boom Continues - Tech Roundup	DJ
May. 10	Wall St mixed but headed for weekly gains ahead of inflation data	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	2,212,077	-	-
Enterprise Value (EV) ¹	142,852	318,545	560,738	498,840	1,491,191	2,153,961	2,098,193	2,023,264
P/E ratio	54.9 x	75.7 x	59.3 x	117 x	51.2 x	39.1 x	31.5 x	25.1 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	19.7 x	15.9 x	13.2 x
EV / Revenue	13.1 x	19.1 x	20.8 x	18.5 x	24.5 x	19.2 x	15.1 x	12.1 x
EV / EBITDA	44.3 x	56.6 x	50 x	86.5 x	43.2 x	30 x	23.5 x	17.7 x
EV / FCF	33.4 x	67.9 x	69 x	131 x	55.2 x	39.7 x	30.4 x	25.8 x
FCF Yield	2.99%	1.47%	1.45%	0.76%	1.81%	2.52%	3.29%	3.88%
Price to Book	12.6 x	19.2 x	21.8 x	23.1 x	35.4 x	25.1 x	15.9 x	10 x
Nbr of stocks (in thousands)	2,448,000	2,476,000	2,500,000	2,461,000	2,470,000	2,461,200	-	-
Reference price ²	61.99	130.5	228.4	203.6	610.3	898.8	898.8	898.8
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	112,174	139,041	167,196
EBITDA ¹	3,227	5,630	11,215	5,768	34,480	71,727	89,099	114,491
EBIT ¹	3,735	6,803	12,690	9,040	37,134	73,070	88,492	105,273
Operating Margin	34.21%	40.8%	47.15%	33.51%	60.95%	65.14%	63.64%	62.96%
Earnings before Tax (EBT) ¹	2,970	4,409	9,941	4,181	33,818	68,138	81,943	98,494
Net income ¹	2,796	4,332	9,752	4,368	29,760	57,476	69,820	84,368
Net margin	25.61%	25.98%	36.23%	16.19%	48.85%	51.24%	50.22%	50.46%
EPS ²	1.130	1.725	3.850	1.740	11.93	23.01	28.56	35.76
Free Cash Flow ¹	4,272	4,694	8,132	3,808	27,021	54,205	68,965	78,513
FCF margin	39.13%	28.15%	30.21%	14.12%	44.35%	48.32%	49.6%	46.96%
FCF Conversion (EBITDA)	132.38%	83.37%	72.51%	66.02%	78.37%	75.57%	77.4%	68.58%
FCF Conversion (Net income)	152.79%	108.36%	83.39%	87.18%	90.8%	94.31%	98.77%	93.06%
Dividend per Share ²	0.1600	0.1600	0.1600	0.1600	-	0.1600	0.1662	0.1772
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	24,392	26,621	28,935	31,076	31,158
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	16,303	17,390	18,943	20,391	20,401
Operating Margin	47.67%	48.11%	47.72%	19.76%	25.9%	36.75%	42.44%	57.57%	63.78%	66.73%	66.84%	65.32%	65.47%	65.62%	65.47%
Earnings before Tax (EBT) ¹	2,638	2,865	1,805	475	613	1,289	2,209	6,981	10,522	14,106	15,230	16,699	18,116	19,107	19,626
Net income ¹	2,464	3,003	1,618	656	680	1,414	2,043	6,188	9,243	12,285	12,733	13,698	14,705	15,647	16,171
Net margin	34.69%	39.29%	19.52%	9.79%	11.47%	23.37%	28.41%	45.81%	51.01%	55.58%	52.2%	51.45%	50.82%	50.35%	51.9%
EPS ²	0.9700	1.180	0.6400	0.2600	0.2700	0.5700	0.8200	2.480	3.710	4.930	5.145	5.529	5.937	6.371	6.563
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	54,205	68,965	78,513
ROE (net income / shareholders' equity)	33.2%	43.2%	51.8%	34.3%	99.3%	90.3%	70.8%	55.9%
ROA (Net income/ Total Assets)	18.3%	18.8%	30.9%	19.6%	60.4%	67.8%	55.7%	37%
Assets ¹	15,304	23,054	31,605	22,286	49,233	84,802	125,422	228,252
Book Value Per Share ²	4.940	6.810	10.50	8.820	17.20	35.80	56.60	89.90
Cash Flow per Share ²	1.930	2.320	3.590	2.250	11.30	23.50	31.60	45.20
Capex ¹	489	1,128	976	1,833	1,069	1,621	2,085	2,561
Capex / Sales	4.48%	6.76%	3.63%	6.8%	1.75%	1.44%	1.5%	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

898.8 USD

Average target price

1,010 USD

Spread / Average Target

+12.40%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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