NVDA
NVIDIA Corporation
NVDA has the edge over VIAV overall, supported by stronger valuation and stronger modeled upside.
VIAV
Viavi Solutions Inc.
VIAV trails on the overall score without a compensating advantage in the available component scores.
NVDA Fundamentals
| Metric | Status |
|---|---|
| Strong | |
| Strong | |
| Strong | |
| Strong |
NVDA's revenue, profitability, cash flow and balance sheet are all currently strong.
VIAV Fundamentals
| Metric | Status |
|---|---|
| Strong | |
| Strong | |
| Healthy | |
| Strong |
VIAV'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 VIAV in the historical PE scenario, which offers more potential upside but is not a forecast.
VIAV PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 54x | $14.03 | -57% |
| Fair | 93x | $24.16 | -26% |
| Current | 125x | $32.54 | — |
| Expensive | 377x | $98.00 | +201% |
Historical ranges are pointers, not guarantees.
VIAV's PE is in its fair range at 125x.
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.
VIAV Forward outlook
There aren't enough analyst estimates for VIAV to show an outlook.
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 VIAV on earnings, with more consistent year-over-year improvement.
VIAV Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q3 2026 | $0.26 | +333% |
| Q2 2026 | -$0.13 | -187% |
| Q1 2026 | -$0.25 | -1350% |
| Q4 2025 | -$0.19 | -$0.01 |
| Q3 2025 | $0.06 | +$0.23 |
| Q2 2025 | $0.15 | +$0.27 |
| Q1 2025 | $0.02 | +$0.04 |
| Q4 2024 | -$0.18 | -1000% |
VIAV's earnings per share have fallen from their peak: $0.26 over the past year, against $0.43 in late 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 VIAV 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 VIAV on profitability, with a higher operating margin.
VIAV Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $469.3M | +57% |
| Q2 2026 | $443.1M | +53% |
| Q1 2026 | $406.8M | +43% |
| Q4 2025 | $369.3M | +36% |
| Q3 2025 | $299.1M | +26% |
| Q2 2025 | $290.5M | +15% |
| Q1 2025 | $284.8M | +16% |
| Q4 2024 | $270.8M | +6.4% |
VIAV's revenue has grown year over year for eight quarters in a row: $469M last quarter, up 57% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 17% | +15 points |
| Q2 2026 | 14% | +8.6 points |
| Q1 2026 | 6.1% | +3.1 points |
| Q4 2025 | 3.1% | -5.1 points |
| Q3 2025 | 2.5% | -2.3 points |
| Q2 2025 | 5.3% | +7.5 points |
| Q1 2025 | 3% | +7.8 points |
| Q4 2024 | 8.2% | -0.6 points |
VIAV's operating margin was 17% last quarter, up 15 points from the same quarter a year ago, near the top of its range since 2019.
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.
VIAV Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $92.7M | +312% |
| Q2 2026 | $55.6M | +204% |
| Q1 2026 | -$32.2M | -3320% |
| Q4 2025 | $36.9M | +1.1% |
| Q3 2025 | $22.5M | +263% |
| Q2 2025 | $18.3M | -18% |
| Q1 2025 | $1M | -94% |
| Q4 2024 | $36.5M | +150% |
VIAV generated $153M in free cash flow over the past year, up 95% 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 VIAV 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.
VIAV Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +16% | +36.7M shares |
| 1 year | +19% | +43.3M shares |
| 3 years | +19% | +42M shares |
| 5 years | +15% | +35.1M shares |
| Available history | +12% | +27.9M shares |
VIAV has 266M diluted shares, up 19% from a year ago, despite $150M in buybacks over the past year.
| Quarter | Spent |
|---|---|
| Q3 2026 | $150M |
| Q2 2026 | — |
| Q1 2026 | — |
| Q4 2025 | — |
| Q3 2025 | $30M |
| Q2 2025 | — |
| Q1 2025 | — |
| Q4 2024 | — |
VIAV spent $150M buying back its own shares over the past year, about five times what it spent 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.
VIAV Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -0.5x | Net Cash |
| Q2 2026 | -2.4x | Net Cash |
| Q1 2026 | 2.9x | Moderate |
| Q4 2025 | 5.0x | High |
| Q3 2025 | 1.0x | Very low |
| Q2 2025 | -1.8x | Net Cash |
| Q1 2025 | 0.3x | Very low |
| Q4 2024 | 2.5x | Moderate |
VIAV 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).
VIAV Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 45.1 | Neutral |
| Stochastic | 19.6 | Oversold |
VIAV's weekly RSI is 45 (neutral) and its Stochastic is 20 (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 VIAV on valuation relative to its sector.
VIAV PE vs Technology Sector
| Metric | VIAV | Sector median | Relative |
|---|---|---|---|
| PE | 125x | 28x | 349% above |
| PE % | 58 | 35 | 23 pts above |
VIAV is trading at 125x earnings, a 349% 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.
VIAV Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $36.0 | 9.6% below |
| 20 week MA | $37.7 | 14% below |
| 50 week MA | $35.6 | 8.6% below |
| 100 week MA | $23.5 | 38% above |
| 200 week MA | $16.4 | 98% above |
VIAV 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.
VIAV Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $15.1 | $14.7 | -2.8% |
| 2021 | $14.7 | $17.1 | +16% |
| 2022 | $17.1 | $10.3 | -40% |
| 2023 | $10.3 | $10.1 | -1.8% |
| 2024 | $10.1 | $10.2 | +1.1% |
| 2025 | $10.2 | $18.2 | +79% |
| 2026 YTD | $18.2 | $32.5 | +79% |
VIAV has the edge over NVDA on returns for 2026, with the stronger performance.