NVDA
NVIDIA Corporation
NVDA has the edge over PUBM overall, supported by stronger valuation and stronger modeled upside.
PUBM
PubMatic, Inc.
PUBM's outlook is improving, though it still trails on the overall score.
NVDA Fundamentals
| Metric | Status |
|---|---|
| Strong | |
| Strong | |
| Strong | |
| Strong |
NVDA's revenue, profitability, cash flow and balance sheet are all currently strong.
PUBM Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Stable | |
| Healthy | |
| Strong |
PUBM's revenue, cash flow and balance sheet are currently healthy, and its profitability is stable.
NVDA PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 12x | $166 | — |
| Current | 21x | $166 | — |
| Cheap | 44x | $345 | +108% |
| Fair | 65x | $511 | +207% |
| Expensive | 93x | $734 | +342% |
Historical ranges are pointers, not guarantees.
NVDA's PE is in its cheap range at 21x. If earnings grow as analysts expect, today's price would be 12x next year's earnings.
PUBM PE Valuation
PUBM has no meaningful PE right now: it lost money over the past year. If it returns to profit as analysts expect, today's price would be 99x next year's earnings.
NVDA Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Strong growth | |
| Weakening | |
| Broad | |
| Moderate |
Analysts expect strong earnings and revenue growth for NVDA, but weaker profitability.
PUBM Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Returning to profit | |
| Growth | |
| Strongly improving | |
| Limited | |
| High |
PUBM has the edge over NVDA on the outlook, with more favorable profitability expectations.
NVDA Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $13.77 | +74% |
| Q3 2026 | $7.91 | +125% |
| Q2 2026 | $6.53 | +111% |
| Q1 2026 | $4.90 | +67% |
| Q4 2025 | $4.03 | +59% |
| Q3 2025 | $3.51 | +65% |
| Q2 2025 | $3.10 | +81% |
| Q1 2025 | $2.94 | +147% |
| Q4 2024 | $2.54 | +234% |
NVDA has the edge over PUBM on earnings quality, reporting a profit while its opponent remains loss making.
PUBM Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $0.19 | — |
| Q3 2026 | -$0.05 | +$0.14 |
| Q2 2026 | -$0.30 | -$0.23 |
| Q1 2026 | -$0.38 | -575% |
| Q4 2025 | -$0.31 | -235% |
| Q3 2025 | -$0.19 | -246% |
| Q2 2025 | -$0.07 | -139% |
| Q1 2025 | $0.08 | +167% |
| Q4 2024 | $0.23 | +$0.26 |
PUBM lost $0.05 per share over the past year, a smaller loss than the year before.
NVDA Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $96.2B | +106% |
| Q2 2026 | $81.6B | +85% |
| Q1 2026 | $68.1B | +73% |
| Q4 2025 | $57B | +62% |
| Q3 2025 | $46.7B | +56% |
| Q2 2025 | $44.1B | +69% |
| Q1 2025 | $39.3B | +78% |
| Q4 2024 | $35.1B | +94% |
NVDA has the edge over PUBM on sales, with more consistent year-over-year improvement.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 66% | +5.4 points |
| Q2 2026 | 66% | +17 points |
| Q1 2026 | 65% | +3.9 points |
| Q4 2025 | 63% | +0.8 points |
| Q3 2025 | 61% | -1.2 points |
| Q2 2025 | 49% | -16 points |
| Q1 2025 | 61% | -0.5 points |
| Q4 2024 | 62% | +4.9 points |
NVDA has the edge over PUBM on profitability, with a higher operating margin.
PUBM Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $79.6M | +17% |
| Q2 2026 | $78.6M | +11% |
| Q1 2026 | $62.6M | -2% |
| Q4 2025 | $80M | -6.4% |
| Q3 2025 | $68M | -5.3% |
| Q2 2025 | $71.1M | +5.7% |
| Q1 2025 | $63.8M | -4.3% |
| Q4 2024 | $85.5M | +1.1% |
PUBM's revenue is growing: $80M last quarter, up 17% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 11% | +23 points |
| Q2 2026 | 0.7% | +8.4 points |
| Q1 2026 | -24% | -5.8 points |
| Q4 2025 | 11% | -6.7 points |
| Q3 2025 | -12% | -11 points |
| Q2 2025 | -7.7% | -1.8 points |
| Q1 2025 | -19% | -10 points |
| Q4 2024 | 17% | -6.8 points |
PUBM's operating margin was 11% last quarter, up 23 points from the same quarter a year ago.
NVDA Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $21.4B | +59% |
| Q2 2026 | $48.6B | +86% |
| Q1 2026 | $34.9B | +124% |
| Q4 2025 | $22.1B | +32% |
| Q3 2025 | $13.5B | -0.3% |
| Q2 2025 | $26.2B | +75% |
| Q1 2025 | $15.6B | +38% |
| Q3 2024 | $13.5B | +113% |
NVDA has the edge over PUBM on cash flow, with more consistent year-over-year improvement.
PUBM Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $20.9M | -25% |
| Q2 2026 | $17.3M | +27% |
| Q1 2026 | $17.3M | +22% |
| Q4 2025 | $11.3M | -18% |
| Q3 2025 | $27.7M | +274% |
| Q2 2025 | $13.6M | +21% |
| Q1 2025 | $14.2M | -40% |
| Q4 2024 | $13.7M | -42% |
PUBM generated $67M in free cash flow over the past year, down 3.6% from the year before.
NVDA Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.4% | -106M shares |
| 1 year | -1% | -247M shares |
| 3 years | -2.8% | -705M shares |
| 5 years | -4.1% | -1B shares |
| Available history | -1.8% | -435M shares |
NVDA has the edge over PUBM on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | $19.7B |
| Q2 2026 | $19.3B |
| Q1 2026 | $3.8B |
| Q4 2025 | $12.5B |
| Q3 2025 | $9.7B |
| Q2 2025 | $14.1B |
| Q1 2025 | $7.8B |
| Q4 2024 | $11B |
NVDA spent $55.3B buying back its own shares over the past year, up 30% from the year before.
PUBM Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +9.3% | +4.3M shares |
| 1 year | +9.8% | +4.5M shares |
| 3 years | -9.9% | -5.6M shares |
| 5 years | -11% | -6.1M shares |
| Available history | +16% | +6.8M shares |
PUBM has 50M diluted shares, up 9.8% from a year ago, despite $47M in buybacks over the past year.
| Quarter | Spent |
|---|---|
| Q3 2026 | $15M |
| Q2 2026 | $22M |
| Q1 2026 | $8.5M |
| Q4 2025 | $1.2M |
| Q3 2025 | $4M |
| Q2 2025 | $38.6M |
| Q1 2025 | $5M |
| Q4 2024 | $9.9M |
PUBM spent $47M buying back its own shares over the past year, down 19% from the year before.
NVDA Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 0.1x | Very low |
| Q2 2026 | -0.0x | Net Cash |
| Q1 2026 | -0.0x | Net Cash |
| Q4 2025 | -0.0x | Net Cash |
| Q3 2025 | -0.0x | Net Cash |
| Q2 2025 | -0.1x | Net Cash |
| Q1 2025 | -0.0x | Very low |
| Q4 2024 | -0.0x | Net Cash |
NVDA's net debt is less than a year of its operating earnings (EBITDA), after holding more cash than debt a year ago.
PUBM Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q4 2025 | -83.6x | Net Cash |
| Q3 2025 | -13.1x | Net Cash |
| Q2 2025 | -4.7x | Net Cash |
| Q1 2025 | -4.7x | Net Cash |
| Q4 2024 | -3.5x | Net Cash |
| Q3 2024 | -2.2x | Net Cash |
| Q2 2024 | -2.0x | Net Cash |
| Q1 2024 | -2.3x | Net Cash |
PUBM has more cash than debt.
NVDA Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 33.4 | Neutral |
| Stochastic | 18.1 | Oversold |
NVDA's weekly RSI is 33 (neutral) and its Stochastic is 18 (oversold).
PUBM Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 65.8 | Neutral |
| Stochastic | 71.0 | Neutral |
PUBM's weekly RSI is 66 (neutral) and its Stochastic is 71 (neutral).
NVDA PE vs Technology Sector
| Metric | NVDA | Sector median | Relative |
|---|---|---|---|
| PE | 21x | 28x | 25% below |
| PE % | 0 | 35 | 35 pts below |
NVDA is trading at 21x earnings, a 25% discount to the Technology sector's median of 28x.
PUBM PE vs Technology Sector
| Metric | PUBM | Sector median | Relative |
|---|---|---|---|
| PE | N/A | 28x | — |
PUBM has no meaningful PE right now: it lost money over the past year.
NVDA Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $208.9 | 20% below |
| 20 week MA | $212.0 | 22% below |
| 50 week MA | $199.9 | 17% below |
| 100 week MA | $175.1 | 5.1% below |
| 200 week MA | $123.6 | 34% above |
NVDA has fallen below most of its moving averages, though it's still 34% above its 200-week average.
PUBM Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $17.8 | 7% above |
| 20 week MA | $16.3 | 17% above |
| 50 week MA | $12.0 | 59% above |
| 100 week MA | $11.4 | 66% above |
| 200 week MA | $14.1 | 35% above |
PUBM has the edge over NVDA on trend strength, trading above more of its moving averages.
NVDA Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $5.92 | $13.0 | +119% |
| 2021 | $13.0 | $29.6 | +128% |
| 2022 | $29.6 | $15.2 | -49% |
| 2023 | $15.2 | $49.5 | +226% |
| 2024 | $49.5 | $137.0 | +177% |
| 2025 | $137.0 | $190.5 | +39% |
| 2026 YTD | $190.5 | $166.2 | -13% |
NVDA's yearly returns have swung widely, from +226% in 2023 to −49% in 2022. It's down 13% so far in 2026.
PUBM Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $25.1 | $30.4 | +22% |
| 2021 | $30.4 | $34.8 | +14% |
| 2022 | $34.8 | $12.6 | -64% |
| 2023 | $12.6 | $16.3 | +29% |
| 2024 | $16.3 | $15.1 | -7.4% |
| 2025 | $15.1 | $8.98 | -41% |
| 2026 YTD | $8.98 | $19.0 | +112% |
PUBM has the edge over NVDA on returns for 2026, with the stronger performance.