NVDA
NVIDIA Corporation
NVDA has the edge over STEM overall, supported by stronger valuation and stronger fundamentals.
STEM
Stem, Inc.
STEM'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.
STEM Fundamentals
| Metric | Status |
|---|---|
| Under pressure | |
| Under pressure | |
| Under pressure | |
| Strong |
STEM's balance sheet is currently strong, but its revenue, profitability and cash flow are under pressure.
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.
STEM PE Valuation
STEM has no meaningful PE right now: it lost money over the past year.
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.
STEM Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Losses shrinking | |
| Growth | |
| Strongly improving | |
| Limited | |
| High |
STEM 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 STEM on earnings quality, reporting a profit while its opponent remains loss making.
STEM Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q2 2026 | -$8.19 | +$21.40 |
| Q1 2026 | -$8.40 | +$91.20 |
| Q4 2025 | -$9.18 | +$96.62 |
| Q3 2025 | -$14.23 | +$89.81 |
| Q2 2025 | -$29.59 | +$66.05 |
| Q1 2025 | -$99.60 | -$70.56 |
| Q4 2024 | -$105.80 | -$80.16 |
| Q3 2024 | -$104.04 | -$78.64 |
STEM is still losing money, but far less than before: $8.19 per share over the past year, against $105.80 at its worst in late 2024.
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 STEM 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 STEM on profitability, with a higher operating margin.
STEM Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q2 2026 | $33.7M | -12% |
| Q1 2026 | $29M | -11% |
| Q4 2025 | $47.1M | -16% |
| Q3 2025 | $38.2M | +31% |
| Q2 2025 | $38.4M | +13% |
| Q1 2025 | $32.5M | +28% |
| Q4 2024 | $55.8M | -67% |
| Q3 2024 | $29.3M | -78% |
STEM's revenue has slid since its 2023 peak: $34M last quarter, down 12% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q2 2026 | -23% | +12 points |
| Q1 2026 | -49% | +16 points |
| Q4 2025 | -18% | +67 points |
| Q3 2025 | -34% | +460 points |
| Q2 2025 | -35% | +1671 points |
| Q1 2025 | -65% | +202 points |
| Q4 2024 | -84% | -64 points |
| Q3 2024 | -493% | -442 points |
STEM's operating margin was −23% last quarter, up 12 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 STEM on cash generation, producing positive trailing cash flow while its opponent burns cash.
STEM Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q1 2026 | -$8.3M | -197% |
| Q4 2025 | $8.2M | +$22.9M |
| Q3 2025 | $11.4M | +$20.9M |
| Q2 2025 | -$21.3M | -$9.3M |
| Q1 2025 | $8.5M | +$9.2M |
| Q4 2024 | -$14.7M | -$11.5M |
| Q3 2024 | -$9.5M | -$5.4M |
| Q2 2024 | -$12M | +$153.5M |
STEM has burned cash in almost every quarter: −$10M over the past year, against −$28M 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 STEM 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.
STEM Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +7% | +593K shares |
| 1 year | +7.4% | +629K shares |
| 3 years | +17% | +1.3M shares |
| 5 years | +45% | +2.8M shares |
STEM has 9M diluted shares, up 7.4% from a year ago.
| Quarter | Spent |
|---|---|
| Q2 2020 | — |
| Q1 2020 | — |
| Q4 2019 | — |
| Q3 2019 | — |
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.
STEM Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q2 2026 | -24.9x | Net Cash |
STEM has the edge over NVDA on leverage, with a lower net debt burden relative to earnings.
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).
STEM Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 26.9 | Oversold |
| Stochastic | 4.0 | Oversold |
STEM's weekly RSI is 27 (oversold) and its Stochastic is 4 (oversold).
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.
STEM PE vs Technology Sector
STEM 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 the edge over STEM on trend strength, trading above more of its moving averages.
STEM Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $3.30 | 31% below |
| 20 week MA | $4.83 | 53% below |
| 50 week MA | $9.24 | 75% below |
| 100 week MA | $11.1 | 79% below |
| 200 week MA | $39.7 | 94% below |
STEM is in a downtrend: it's below all five of its weekly moving averages, and 94% below its 200-week average.
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 has the edge over STEM on returns for 2026, with the stronger performance.
STEM Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $195.2 | $453.4 | +132% |
| 2021 | $453.4 | $395.8 | -13% |
| 2022 | $395.8 | $186.2 | -53% |
| 2023 | $186.2 | $77.6 | -58% |
| 2024 | $77.6 | $11.9 | -85% |
| 2025 | $11.9 | $16.0 | +35% |
| 2026 YTD | $16.0 | $2.29 | -86% |
STEM's yearly returns have swung widely, from +132% in 2020 to −85% in 2024. It's down 86% so far in 2026.