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Nvidia’s PE ratio drops to 31, its lowest level in 7 years, even as stock price sits near all-time highs

Nvidia’s PE ratio drops to 31, its lowest level in 7 years, even as stock price sits near all-time highs

The AI chip giant's valuation is compressing fast as earnings finally catch up to the hype, creating what some see as a rare entry point.

NVIDIA Corporation (NVDA) price

Full chart and stats

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Market cap
$5.1T (shares as of 2026-08-21)
P/E (trailing)
27.0 (EPS to 2026-07-26)
Annual revenue
$215.9B USD (FY ended 2026-01-25) 10-K
Annual revenue growth
+65.5% (FY ended 2026-01-25 vs FY ended 2025-01-26) 10-K
Annual net income
120,067,000,000 USD (FY ended 2026-01-25, attributable to the company) 10-K
Annual operating margin
60.4% (FY ended 2026-01-25)
Forward P/E
Unavailable: no dated forecast source

Gloria daily close for session Oct 29, 2026. Market cap and trailing P/E use this close with the SEC share total and trailing diluted earnings, each dated next to its figure. Annual revenue, revenue growth, net income and margin show their own fiscal period and link the 10-K. Current context may postdate this article.

NVIDIA Corporation and its peers

Company PriceMarket capP/E (trailing)Forward P/EAnnual revenue (USD)Annual revenue growthAnnual net income (USD)Operating margin
NVIDIA Corporation NVDA · Price dated Oct 29, 2026 · tokenized NVDAx $214$5.1T27.0Unavailable$215.9BFY ended 2026-01-25 · 10-K+65.5%FY ended 2026-01-25 vs 2025-01-26 · 10-K120,067,000,000FY ended 2026-01-25, attributable to the company · 10-K60.4%FY ended 2026-01-25
Broadcom Inc. AVGO · Price dated Oct 29, 2026 · tokenized AVGOx $345$1.6T44.0Unavailable$63.9BFY ended 2025-11-02 · 10-K+23.9%FY ended 2025-11-02 vs 2024-11-03 · 10-K23,126,000,000FY ended 2025-11-02, consolidated · 10-K39.9%FY ended 2025-11-02
Micron Technology Inc. MU · Price dated Oct 29, 2026 · tokenized MUx $934$1.1T12.6Unavailable$133.2BFY ended 2026-09-03 · 10-K+256.3%FY ended 2026-09-03 vs 2025-08-28 · 10-K84,969,000,000FY ended 2026-09-03, attributable to the company · 10-K74.6%FY ended 2026-09-03
Advanced Micro Devices Inc. AMD · Price dated Oct 29, 2026 · tokenized AMDx $566$924.7B145.2Unavailable$34.6BFY ended 2025-12-27 · 10-K+34.3%FY ended 2025-12-27 vs 2024-12-28 · 10-K4,335,000,000FY ended 2025-12-27, attributable to the company · 10-K10.7%FY ended 2025-12-27

Missing figures stay unavailable. Forward P/E requires a dated source. Annual revenue, revenue growth, net income and margin come from each company's own 10-K, in US dollars, and each row shows that fiscal year. Revenue growth compares the fiscal year with the prior year stated in the same 10-K. Net income is the full year amount attributable to the company, or available to common stockholders where the filing states only that, or consolidated net income. Each row names its basis. Trailing P/E reads "Not meaningful" when the dated trailing diluted EPS is a loss or zero. An operating margin appears only when the filing states both the operating income and the revenue for the same year.

Sources: SEC filings, Gloria daily closes and CoinGecko. Oldest record refresh: Oct 29, 2026, 1:52 PM EDT. Refresh is not a price or filing date. Each row shows its price date and its annual fiscal period. Peers use industry code and company size, or editorial selection. Market cap multiplies that row price by the company share total the latest SEC filing states for every share class together. Trailing P/E divides it by trailing diluted earnings from SEC filings. Rolled earnings per share are approximate because share counts can change between periods. Both appear only when the SEC data carries its date, so they are estimates at one price date, not synchronized filing valuations. Not investment advice.

Token vs underlying stock

Current comparison for NVDA. Historical observations may postdate this article.

NVDAx token unit vs NVDA share · USD

$213.57Oct 29 UTC

-2.5% over displayed period

● NVDAx token┄ NVDA stock: $213.66

Aug 6, 2026: token $219.15 at 20:00 UTC; stock close $218.99 Aug 7, 2026: token $223.93 at 20:00 UTC; stock close $223.96 Aug 10, 2026: token $217.66 at 20:00 UTC; stock close $217.55 Aug 11, 2026: token $217.53 at 20:00 UTC; stock close $217.50 Aug 12, 2026: token $224.12 at 20:00 UTC; stock close $224.09 Aug 13, 2026: token $225.42 at 20:00 UTC; stock close $225.30 Aug 14, 2026: token $225.34 at 20:00 UTC; stock close $225.16 Aug 17, 2026: token $225.13 at 20:00 UTC; stock close $225.01 Aug 18, 2026: token $219.70 at 20:00 UTC; stock close $219.74 Aug 19, 2026: token $217.76 at 20:00 UTC; stock close $217.56 Aug 20, 2026: token $216.79 at 20:00 UTC; stock close $216.85 Aug 21, 2026: token $214.85 at 20:00 UTC; stock close $214.72 Aug 24, 2026: token $208.75 at 20:00 UTC; stock close $208.48 Aug 25, 2026: token $213.16 at 20:00 UTC; stock close $213.05 Aug 26, 2026: token $210.06 at 20:00 UTC; stock close $209.66 Aug 27, 2026: token $227.96 at 20:00 UTC; stock close $227.98 Aug 28, 2026: token $217.74 at 20:00 UTC; stock close $217.55 Aug 31, 2026: token $220.91 at 20:00 UTC; stock close $220.78 Sep 1, 2026: token $217.58 at 20:00 UTC; stock close $217.44 Sep 2, 2026: token $224.46 at 20:00 UTC; stock close $224.41 Sep 3, 2026: token $228.90 at 20:00 UTC; stock close $228.45 Sep 4, 2026: token $230.35 at 20:00 UTC; stock close $230.36 Sep 8, 2026: token $225.69 at 20:00 UTC; stock close $225.73 Sep 9, 2026: token $223.89 at 20:00 UTC; stock close $223.67 Sep 10, 2026: token $218.70 at 20:00 UTC; stock close $218.36 Sep 11, 2026: token $218.92 at 20:00 UTC; stock close $218.29 Sep 14, 2026: token $211.47 at 20:00 UTC; stock close $210.96 Sep 15, 2026: token $212.34 at 20:00 UTC; stock close $212.17 Sep 16, 2026: token $214.25 at 20:00 UTC; stock close $213.90 Sep 17, 2026: token $219.68 at 20:00 UTC; stock close $219.34 Sep 18, 2026: token $222.24 at 20:00 UTC; stock close $222.27 Sep 21, 2026: token $227.69 at 20:00 UTC; stock close $227.38 Sep 22, 2026: token $229.20 at 20:00 UTC; stock close $228.87 Sep 23, 2026: token $225.44 at 20:00 UTC; stock close $225.51 Sep 24, 2026: token $224.87 at 20:00 UTC; stock close $224.58 Sep 25, 2026: token $225.29 at 20:00 UTC; stock close $225.07 Sep 28, 2026: token $228.97 at 20:00 UTC; stock close $228.86 Sep 29, 2026: token $227.95 at 20:00 UTC; stock close $227.21 Sep 30, 2026: token $229.85 at 20:00 UTC; stock close $228.38 Oct 1, 2026: token $231.18 at 20:00 UTC; stock close $230.86 Oct 2, 2026: token $234.38 at 20:00 UTC; stock close $233.95 Oct 5, 2026: token $239.30 at 20:00 UTC; stock close $238.90 Oct 6, 2026: token $239.71 at 20:00 UTC; stock close $239.24 Oct 7, 2026: token $237.80 at 20:00 UTC; stock close $237.47 Oct 8, 2026: token $230.81 at 20:00 UTC; stock close $230.48 Oct 9, 2026: token $229.70 at 20:00 UTC; stock close $229.28 Oct 12, 2026: token $226.87 at 20:00 UTC; stock close $226.32 Oct 13, 2026: token $228.73 at 20:00 UTC; stock close $228.52 Oct 14, 2026: token $221.56 at 20:00 UTC; stock close $221.30 Oct 15, 2026: token $217.48 at 20:00 UTC; stock close $217.23 Oct 16, 2026: token $214.56 at 20:00 UTC; stock close $214.13 Oct 19, 2026: token $217.41 at 20:00 UTC; stock close $217.09 Oct 20, 2026: token $216.69 at 20:00 UTC; stock close $216.47 Oct 21, 2026: token $222.20 at 20:00 UTC; stock close $221.97 Oct 22, 2026: token $212.42 at 20:00 UTC; stock close $212.21 Oct 23, 2026: token $211.27 at 20:00 UTC; stock close $210.96 Oct 26, 2026: token $216.15 at 20:00 UTC; stock close $216.00 Oct 27, 2026: token $218.06 at 20:00 UTC; stock close $217.94 Oct 28, 2026: token $215.40 at 20:00 UTC; stock close $215.38 Oct 29, 2026: token $213.57 at 20:00 UTC; stock close $213.66
Aug 6$208.48 to $239.71Oct 29

Source: CoinGecko + Gloria · Retrieved Oct 30, 04:15 UTC

Methodology and data

Split-adjusted regular-session stock closes from the existing Gloria shared history, paired only with an observed token price within 45 minutes of 16:00 New York time. Up to 60 matched sessions. No interpolation or missing-date fill. Weekends and known early closes are omitted. Token units are not adjusted for issuer multipliers or dividend treatment. This compares quoted prices, not fair value, executable premiums or arbitrage returns. Solid line: token. Dashed line: stock. Exact quote times and values appear below. Historical observations. Retrieval refers to the token source. Token quote times use UTC. The fixed cohort shows its oldest member fetch.

Nvidia token vs Nvidia stock: exact source values
Date (UTC)Token (USD)Stock close (USD)Token quote (UTC)
2026-08-06219.15218.992026-08-06 20:00
2026-08-07223.93223.962026-08-07 20:00
2026-08-10217.66217.552026-08-10 20:00
2026-08-11217.53217.502026-08-11 20:00
2026-08-12224.12224.092026-08-12 20:00
2026-08-13225.42225.302026-08-13 20:00
2026-08-14225.34225.162026-08-14 20:00
2026-08-17225.13225.012026-08-17 20:00
2026-08-18219.70219.742026-08-18 20:00
2026-08-19217.76217.562026-08-19 20:00
2026-08-20216.79216.852026-08-20 20:00
2026-08-21214.85214.722026-08-21 20:00
2026-08-24208.75208.482026-08-24 20:00
2026-08-25213.16213.052026-08-25 20:00
2026-08-26210.06209.662026-08-26 20:00
2026-08-27227.96227.982026-08-27 20:00
2026-08-28217.74217.552026-08-28 20:00
2026-08-31220.91220.782026-08-31 20:00
2026-09-01217.58217.442026-09-01 20:00
2026-09-02224.46224.412026-09-02 20:00
2026-09-03228.90228.452026-09-03 20:00
2026-09-04230.35230.362026-09-04 20:00
2026-09-08225.69225.732026-09-08 20:00
2026-09-09223.89223.672026-09-09 20:00
2026-09-10218.70218.362026-09-10 20:00
2026-09-11218.92218.292026-09-11 20:00
2026-09-14211.47210.962026-09-14 20:00
2026-09-15212.34212.172026-09-15 20:00
2026-09-16214.25213.902026-09-16 20:00
2026-09-17219.68219.342026-09-17 20:00
2026-09-18222.24222.272026-09-18 20:00
2026-09-21227.69227.382026-09-21 20:00
2026-09-22229.20228.872026-09-22 20:00
2026-09-23225.44225.512026-09-23 20:00
2026-09-24224.87224.582026-09-24 20:00
2026-09-25225.29225.072026-09-25 20:00
2026-09-28228.97228.862026-09-28 20:00
2026-09-29227.95227.212026-09-29 20:00
2026-09-30229.85228.382026-09-30 20:00
2026-10-01231.18230.862026-10-01 20:00
2026-10-02234.38233.952026-10-02 20:00
2026-10-05239.30238.902026-10-05 20:00
2026-10-06239.71239.242026-10-06 20:00
2026-10-07237.80237.472026-10-07 20:00
2026-10-08230.81230.482026-10-08 20:00
2026-10-09229.70229.282026-10-09 20:00
2026-10-12226.87226.322026-10-12 20:00
2026-10-13228.73228.522026-10-13 20:00
2026-10-14221.56221.302026-10-14 20:00
2026-10-15217.48217.232026-10-15 20:00
2026-10-16214.56214.132026-10-16 20:00
2026-10-19217.41217.092026-10-19 20:00
2026-10-20216.69216.472026-10-20 20:00
2026-10-21222.20221.972026-10-21 20:00
2026-10-22212.42212.212026-10-22 20:00
2026-10-23211.27210.962026-10-23 20:00
2026-10-26216.15216.002026-10-26 20:00
2026-10-27218.06217.942026-10-27 20:00
2026-10-28215.40215.382026-10-28 20:00
2026-10-29213.57213.662026-10-29 20:00

Stock history: Gloria · Retrieved Oct 30, 00:32 UTC. Token history: CoinGecko NVDAx.

Quoted token and share units can have different rights, multipliers and dividend treatment. This is not an executable premium or arbitrage signal.

Nvidia’s trailing price-to-earnings ratio has fallen to roughly 31, a level the company hasn’t touched in about seven years. For a stock that became synonymous with AI mania and eye-watering multiples, that number feels almost quaint.

Here’s what makes it interesting. The PE isn’t falling because the stock is tanking. Nvidia shares have climbed from adjusted levels of around $4 to $6 before 2019 to north of $195 as of early July 2026. The ratio is compressing because earnings are finally growing into the valuation that the market assigned years ago on pure faith.

The AI hype premium is evaporating

During the 2023 to 2025 stretch, Nvidia traded at multiples that made even the most bullish analysts squirm. Nvidia has reported record revenues consistently, cementing its dominance in the AI chip market. When a company actually delivers on sky-high expectations, the premium evaporates. The earnings just catch up.

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The trailing PE at 31 is a far cry from the triple-digit multiples Nvidia carried during peak AI euphoria. The forward PE tells an even more dramatic story, dropping to around 22, levels last seen back in 2019 before the AI narrative even existed.

For context, Nvidia’s historical trailing PE bottomed near 23.55 in early 2019.

Why the compression is happening now

Geopolitical risks are also playing a role. Tensions in the Middle East and ongoing concerns about US-China chip export restrictions have introduced uncertainty into Nvidia’s growth trajectory. Some recent forward PE readings have dipped as low as 19.6 during market selloffs tied to these geopolitical pressures.

What this means for crypto and AI-adjacent investors

For AI-focused crypto projects, particularly decentralized compute platforms like Render, Akash, and others that rely on GPU availability, Nvidia’s trajectory matters because it influences GPU pricing and availability.

For long-term holders, the math is straightforward. Nvidia at a forward PE of 22 is a fundamentally different proposition than Nvidia at a forward PE of 60. The company is still growing revenue at a pace that most chipmakers can only dream about, and it still controls the chokepoint of the AI hardware stack.

Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.

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