NVDA
NVIDIA Corporation
NVDA has the edge over SMTC overall, supported by stronger valuation and lower modeled downside.
SMTC
Semtech Corporation
SMTC'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.
SMTC Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Healthy | |
| Strong | |
| Strong |
SMTC's revenue, profitability, cash flow and balance sheet are all currently healthy.
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 has the edge over SMTC in the historical PE scenario, which offers more potential upside but is not a forecast.
SMTC PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 20x | $119 | — |
| Cheap | 23x | $34.23 | -71% |
| Fair | 65x | $96.99 | -19% |
| Current | 80x | $119 | — |
| Expensive | 104x | $155 | +30% |
Historical ranges are pointers, not guarantees.
SMTC's PE is in its fair range at 80x. If earnings grow as analysts expect, today's price would be 20x next year's earnings, in its cheap range.
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.
SMTC Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Strong growth | |
| Strongly improving | |
| Moderate | |
| Low |
SMTC 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 SMTC on earnings, with more consistent year-over-year improvement.
SMTC Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $6.04 | +306% |
| Q3 2026 | $1.49 | +140% |
| Q2 2026 | -$0.41 | +$1.27 |
| Q1 2026 | -$0.46 | +$1.80 |
| Q4 2025 | $0.69 | +$13.76 |
| Q3 2025 | $0.62 | +$14.19 |
| Q2 2025 | -$1.68 | +$15.25 |
| Q1 2025 | -$2.26 | +$14.77 |
| Q4 2024 | -$13.07 | -$5.24 |
SMTC's earnings per share have fallen from their peak: $1.49 over the past year, against $2.46 in mid-2022.
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 SMTC on sales, with stronger typical year-over-year growth.
| 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 SMTC on profitability, with a higher operating margin.
SMTC Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $341.9M | +33% |
| Q2 2026 | $291M | +16% |
| Q1 2026 | $274.4M | +9.3% |
| Q4 2025 | $267M | +13% |
| Q3 2025 | $257.6M | +20% |
| Q2 2025 | $251.1M | +22% |
| Q1 2025 | $251M | +30% |
| Q4 2024 | $236.8M | +18% |
SMTC's revenue has grown year over year for eight quarters in a row: $342M last quarter, up 33% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 16% | +23 points |
| Q2 2026 | 8.9% | -5.5 points |
| Q1 2026 | -6.7% | -15 points |
| Q4 2025 | 12% | +4.1 points |
| Q3 2025 | -6.3% | -9.9 points |
| Q2 2025 | 14% | +13 points |
| Q1 2025 | 8.5% | +330 points |
| Q4 2024 | 7.5% | +14 points |
SMTC's operating margin was 16% 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's free cash flow has been positive every quarter for six years: $127B over the past year, up 76% from the year before.
SMTC Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $61.4M | +48% |
| Q2 2026 | $28M | +7% |
| Q1 2026 | $59.1M | +91% |
| Q4 2025 | $44.6M | +53% |
| Q3 2025 | $41.5M | +$49.9M |
| Q2 2025 | $26.2M | +$27.6M |
| Q1 2025 | $30.9M | +153% |
| Q4 2024 | $29.1M | +$41.5M |
SMTC has the edge over NVDA on cash flow, with more consistent year-over-year improvement.
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 SMTC 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.
SMTC Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +2.9% | +2.8M shares |
| 1 year | +16% | +14.1M shares |
| 3 years | +58% | +36.8M shares |
| 5 years | +54% | +35.3M shares |
| Available history | +50% | +33.5M shares |
SMTC has 101M diluted shares, up 16% from a year ago.
| Quarter | Spent |
|---|---|
| Q1 2024 | — |
| Q4 2023 | — |
| Q3 2023 | — |
| Q2 2023 | — |
| Q1 2023 | — |
| Q4 2022 | — |
| Q3 2022 | — |
| Q2 2022 | $50M |
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.
SMTC Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q4 2020 | -0.8x | Net Cash |
| Q3 2020 | -0.9x | Net Cash |
| Q2 2020 | -0.8x | Net Cash |
| Q1 2020 | -1.0x | Net Cash |
| Q4 2019 | -0.7x | Net Cash |
SMTC 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).
SMTC Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 44.9 | Neutral |
| Stochastic | 20.9 | Neutral |
SMTC's weekly RSI is 45 (neutral) and its Stochastic is 21 (neutral).
NVDA PE vs Technology Sector
| Metric | NVDA | Sector median | Relative |
|---|---|---|---|
| PE | 21x | 28x | 25% below |
| PE % | 0 | 35 | 35 pts below |
NVDA has the edge over SMTC on valuation relative to its sector.
SMTC PE vs Technology Sector
| Metric | SMTC | Sector median | Relative |
|---|---|---|---|
| PE | 80x | 28x | 188% above |
| PE % | 65 | 35 | 30 pts above |
SMTC is trading at 80x earnings, a 188% premium to the Technology sector's median of 28x.
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.
SMTC Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $147.9 | 19% below |
| 20 week MA | $142.9 | 16% below |
| 50 week MA | $118.0 | 1.2% above |
| 100 week MA | $84.7 | 41% above |
| 200 week MA | $57.2 | 109% above |
SMTC 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.
SMTC Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $52.1 | $71.7 | +38% |
| 2021 | $71.7 | $86.9 | +21% |
| 2022 | $86.9 | $27.5 | -68% |
| 2023 | $27.5 | $21.9 | -20% |
| 2024 | $21.9 | $63.3 | +189% |
| 2025 | $63.3 | $76.1 | +20% |
| 2026 YTD | $76.1 | $119.4 | +57% |
SMTC has the edge over NVDA on returns for 2026, with the stronger performance.