NVDA
NVIDIA Corporation
NVDA has the edge over XRX overall, supported by stronger fundamentals and stronger valuation.
XRX
Xerox Holdings Corporation
XRX'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.
XRX Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Weak | |
| Under pressure | |
| Weak |
XRX's revenue is currently stable, but its profitability, cash flow and balance sheet 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.
XRX PE Valuation
XRX 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.
XRX Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Losses shrinking | |
| Stable | |
| Improving | |
| Limited | |
| Low |
Analysts expect XRX's losses to shrink, with revenue holding steady. However, they disagree widely on these estimates.
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 XRX on earnings quality, reporting a profit while its opponent remains loss making.
XRX Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q3 2026 | -$9.12 | -$1.28 |
| Q2 2026 | -$7.40 | +$4.14 |
| Q1 2026 | -$8.34 | +$2.22 |
| Q4 2025 | -$8.25 | +$2.50 |
| Q3 2025 | -$7.84 | +$3.09 |
| Q2 2025 | -$11.54 | -$10.60 |
| Q1 2025 | -$10.56 | -$9.10 |
| Q4 2024 | -$10.75 | -$10.66 |
XRX is still losing money, but less than at its worst: $9.12 per share over the past year, against $11.54 at its worst in mid-2025.
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 XRX 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 XRX on profitability, with a higher operating margin.
XRX Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $1.9B | -4.7% |
| Q2 2026 | $1.9B | +22% |
| Q1 2026 | $1.8B | +27% |
| Q4 2025 | $2B | +26% |
| Q3 2025 | $2B | +28% |
| Q2 2025 | $1.6B | -0.1% |
| Q1 2025 | $1.5B | -3% |
| Q4 2024 | $1.6B | -8.6% |
XRX's revenue has picked up after three years of holding roughly level: $1.9B last quarter, down 4.7% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | -54% | -39 points |
| Q2 2026 | 1.6% | +5.4 points |
| Q1 2026 | -4% | +0.6 points |
| Q4 2025 | -3% | -2.8 points |
| Q3 2025 | -15% | +56 points |
| Q2 2025 | -3.8% | -5.4 points |
| Q1 2025 | -4.6% | +5.4 points |
| Q4 2024 | -0.3% | +4.7 points |
XRX's operating margin was −54% last quarter, down 39 points from the same quarter a year ago, near the bottom 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 has the edge over XRX on cash flow, with more consistent year-over-year improvement.
XRX Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $17M | -84% |
| Q2 2026 | $23M | +$38M |
| Q1 2026 | -$156M | -$62M |
| Q4 2025 | $192M | -45% |
| Q3 2025 | $104M | -3.7% |
| Q2 2025 | -$15M | -113% |
| Q1 2025 | -$94M | -$7M |
| Q4 2024 | $346M | -9.2% |
XRX still generates free cash flow, though less than at its 2019 peak: $76M over the past year.
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 XRX 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.
XRX Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.6% | +750K shares |
| 1 year | +3.7% | +4.7M shares |
| 3 years | -16% | -25.5M shares |
| 5 years | -27% | -47.8M shares |
| Available history | -44% | -102M shares |
XRX has 132M diluted shares, up 3.7% from a year ago.
| Quarter | Spent |
|---|---|
| Q4 2025 | — |
| Q3 2025 | — |
| Q2 2025 | — |
| Q1 2025 | — |
| Q4 2024 | $5M |
| Q3 2024 | — |
| Q2 2024 | — |
| Q1 2024 | $3M |
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 XRX on leverage, with a lower net debt burden relative to earnings.
XRX Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q2 2026 | 304.8x | High |
| Q2 2024 | 28.6x | High |
| Q4 2023 | 9.8x | High |
| Q3 2023 | 4.8x | High |
| Q2 2023 | 97.1x | High |
| Q1 2023 | 19.8x | High |
| Q3 2021 | 2.1x | Moderate |
| Q2 2021 | 2.0x | Moderate |
XRX's net debt is more than 20 years of its operating earnings (EBITDA), up from more than 20 years 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).
XRX Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 27.8 | Oversold |
| Stochastic | 2.0 | Oversold |
XRX's weekly RSI is 28 (oversold) and its Stochastic is 2 (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.
XRX PE vs Technology Sector
| Metric | XRX | Sector median | Relative |
|---|---|---|---|
| PE | N/A | 28x | — |
XRX 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 XRX on trend strength, trading above more of its moving averages.
XRX Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $2.21 | 55% below |
| 20 week MA | $2.70 | 63% below |
| 50 week MA | $2.48 | 60% below |
| 100 week MA | $3.87 | 74% below |
| 200 week MA | $9.05 | 89% below |
XRX is in a downtrend: it's below all five of its weekly moving averages, and 89% 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 XRX on returns for 2026, with the stronger performance.
XRX Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $37.3 | $22.6 | -39% |
| 2021 | $22.6 | $22.5 | -0.6% |
| 2022 | $22.5 | $14.6 | -35% |
| 2023 | $14.6 | $18.3 | +25% |
| 2024 | $18.3 | $9.15 | -50% |
| 2025 | $9.15 | $2.49 | -73% |
| 2026 YTD | $2.49 | $0.99 | -60% |
XRX has finished lower in five of the last six years. It's down 60% so far in 2026.