NVDA
NVIDIA Corporation
NVDA has the edge over UCTT overall, supported by stronger valuation and stronger modeled upside.
UCTT
Ultra Clean Holdings, Inc.
UCTT's outlook is improving despite an expensive valuation.
NVDA Fundamentals
| Metric | Status |
|---|---|
| Strong | |
| Strong | |
| Strong | |
| Strong |
NVDA's revenue, profitability, cash flow and balance sheet are all currently strong.
UCTT Fundamentals
| Metric | Status |
|---|---|
| Strong | |
| Healthy | |
| Weak | |
| Stable |
UCTT's revenue and profitability are currently healthy, and its balance sheet is stable, but its cash flow is weak.
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 UCTT in the historical PE scenario, which offers more potential upside but is not a forecast.
UCTT PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 8.4x | $48.10 | — |
| Cheap | 18x | $9.98 | -79% |
| Fair | 26x | $15.06 | -69% |
| Expensive | 47x | $26.89 | -44% |
| Current | 84x | $48.10 | — |
Historical ranges are pointers, not guarantees.
UCTT's PE is in its expensive range at 84x. If earnings grow as analysts expect, today's price would be 8.4x 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.
UCTT Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Strong growth | |
| Strongly improving | |
| Limited | |
| High |
UCTT 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 UCTT on earnings, with more consistent year-over-year improvement.
UCTT Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $5.70 | +899% |
| Q3 2026 | $0.57 | +$4.14 |
| Q2 2026 | -$0.52 | +$2.86 |
| Q1 2026 | -$4.29 | -792% |
| Q4 2025 | -$4.00 | -869% |
| Q3 2025 | -$3.57 | -5200% |
| Q2 2025 | -$3.38 | -$3.18 |
| Q1 2025 | $0.62 | +$1.45 |
| Q4 2024 | $0.52 | +$1.22 |
UCTT has returned to profit: it earned $0.57 per share over the past year, after losing money 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 UCTT 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 UCTT on profitability, with a higher operating margin.
UCTT Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $759M | +49% |
| Q2 2026 | $644.9M | +24% |
| Q1 2026 | $533.7M | +2.9% |
| Q4 2025 | $506.7M | -10% |
| Q3 2025 | $510M | -5.6% |
| Q2 2025 | $518.8M | +0.5% |
| Q1 2025 | $518.6M | +8.6% |
| Q4 2024 | $563.3M | +27% |
UCTT's revenue is growing: $759M last quarter, up 49% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 7.1% | +5 points |
| Q2 2026 | 4.6% | +32 points |
| Q1 2026 | 2.1% | -0.4 points |
| Q4 2025 | 2.1% | -2.4 points |
| Q3 2025 | 2.1% | -2.6 points |
| Q2 2025 | -27% | -32 points |
| Q1 2025 | 2.5% | -1.1 points |
| Q4 2024 | 4.6% | +3.6 points |
UCTT's operating margin was 7.1% last quarter, up 5 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 UCTT on cash generation, producing positive trailing cash flow while its opponent burns cash.
UCTT Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | -$61.8M | -$50.9M |
| Q2 2026 | -$57.3M | -562% |
| Q1 2026 | -$42.9M | -372% |
| Q4 2025 | -$2M | -$1.8M |
| Q3 2025 | -$10.9M | -$10.6M |
| Q2 2025 | $12.4M | +22% |
| Q1 2025 | $15.8M | +$24M |
| Q4 2024 | -$200K | -101% |
UCTT has burned cash in six of the last eight quarters: −$164M over the past year, against $17M 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 UCTT 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.
UCTT Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.2% | +100K shares |
| 1 year | +1.8% | +800K shares |
| 3 years | +4.3% | +1.9M shares |
UCTT has 46M diluted shares, up 1.8% from a year ago, despite $40M in buybacks over the past year.
| Quarter | Spent |
|---|---|
| Q3 2026 | — |
| Q2 2026 | — |
| Q1 2026 | $40M |
| Q4 2025 | — |
| Q3 2025 | — |
| Q4 2024 | — |
| Q3 2024 | — |
| Q2 2024 | — |
UCTT spent $40M buying back its own shares over the past year.
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 has the edge over UCTT on leverage, with a lower net debt burden relative to earnings.
UCTT Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 2.3x | Moderate |
| Q2 2026 | 3.1x | Elevated |
| Q1 2025 | -2.4x | Net Cash |
| Q4 2024 | 1.4x | Healthy |
| Q3 2024 | -2.8x | Net Cash |
| Q2 2024 | -3.5x | Net Cash |
| Q1 2023 | -2.6x | Net Cash |
| Q4 2022 | 1.0x | Healthy |
UCTT's net debt is about 2.3 years of its operating earnings (EBITDA), after holding more cash than debt a year ago.
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).
UCTT Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 38.0 | Neutral |
| Stochastic | 12.1 | Oversold |
UCTT's weekly RSI is 38 (neutral) and its Stochastic is 12 (oversold).
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 UCTT on valuation relative to its sector.
UCTT PE vs Technology Sector
| Metric | UCTT | Sector median | Relative |
|---|---|---|---|
| PE | 84x | 28x | 203% above |
| PE % | 90 | 35 | 55 pts above |
UCTT is trading at 84x earnings, a 203% 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.
UCTT Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $56.8 | 15% below |
| 20 week MA | $73.5 | 35% below |
| 50 week MA | $67.3 | 28% below |
| 100 week MA | $46.8 | 2.9% above |
| 200 week MA | $41.6 | 16% above |
UCTT 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.
UCTT Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $23.4 | $31.7 | +35% |
| 2021 | $31.7 | $56.2 | +78% |
| 2022 | $56.2 | $33.3 | -41% |
| 2023 | $33.3 | $34.1 | +2.5% |
| 2024 | $34.1 | $36.5 | +7% |
| 2025 | $36.5 | $26.0 | -29% |
| 2026 YTD | $26.0 | $48.1 | +85% |
UCTT has the edge over NVDA on returns for 2026, with the stronger performance.