NVIDIA (NVDA)
What the price implies
A reverse DCF: instead of guessing a fair value, it asks what growth today's price already assumes. How it works.
At a market value of $5.63T, NVIDIA's free cash flow of $96.7B (fiscal 2026) would need to grow about 19% a year for the stock to be worth today's price. That is slower than the company has grown its free cash flow over the last 9 years.
Assumes a 9% discount rate and 3% growth after year 10, on free cash flow (operating cash flow minus capital spending) from NVIDIA's SEC filings. Change any assumption, or model revenue and margins instead, in the Modeling tab, or try your own numbers in the reverse DCF calculator.
Fundamental grade
Five factors scored 1 to 9 from NVDA's latest numbers, weighted into one grade. It describes the business, not whether the stock is a buy.
Key numbers
Results from SEC filings
Fiscal years, from NVIDIA's 10-K filings. The deep dive has 15+ years, quarters and every line.
| Fiscal year | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|
| Revenue | $26.9B | $27.0B | $60.9B | $130.5B | $215.9B |
| Net income | $9.8B | $4.4B | $29.8B | $72.9B | $120.1B |
| Free cash flow | $8.1B | $3.8B | $27.0B | $60.9B | $96.7B |
| EPS (diluted) | $0.39 | $0.17 | $1.19 | $2.94 | $4.90 |
| Operating margin | 37.3% | 15.7% | 54.1% | 62.4% | 60.4% |
Where the revenue comes from
Revenue by segments, fiscal 2026.
Superinvestors who own NVDA
From each investor's latest 13F filing (what a 13F shows). 20 of the investors we track hold it.
| Investor | Last quarter | Value | % of portfolio | Quarter |
|---|---|---|---|---|
| Cliff Asness AQR Capital Management |
Added | $7.5B | 2.6% | Q2 2026 |
| Hersh Cohen ClearBridge Investments |
Added | $6.5B | 5.4% | Q2 2026 |
| PRIMECAP Management PRIMECAP Management Co |
Trimmed | $3.4B | 2.0% | Q2 2026 |
| Chase Coleman Tiger Global Management |
Trimmed | $2.2B | 9.3% | Q2 2026 |
| Philippe Laffont Coatue Management |
Trimmed | $1.2B | 2.5% | Q2 2026 |
| Joel Greenblatt Gotham Asset Management |
Trimmed | $804M | 1.9% | Q2 2026 |
| Lee Ainslie Maverick Capital |
Trimmed | $612M | 5.4% | Q2 2026 |
| Ron Baron Baron Capital (BAMCO) |
Added | $593M | 0.89% | Q2 2026 |
| David Tepper Appaloosa Management |
Added | $305M | 4.0% | Q2 2026 |
| Michael Burry Scion Asset Management |
New position | $187M | 13.5% | Q3 2025 |
| Andrew Redleaf Whitebox Advisors |
Trimmed | $140M | 4.0% | Q2 2026 |
| Mario Gabelli GAMCO Investors |
Added | $70M | 0.62% | Q2 2026 |
Insider buying
Open-market purchases by NVIDIA's executives and directors in the last 12 months, from SEC Form 4 filings. What insider buying tells you.
| Date | Insider | Shares | Price | Value |
|---|---|---|---|---|
| Mar 19, 2026 | John Boozman |
0 | $178.81 | — |
| Mar 19, 2026 | John Boozman |
0 | $178.81 | — |
| Mar 19, 2026 | John Boozman |
0 | $178.81 | — |
| Mar 13, 2026 | Gilbert Ray Cisneros, Jr. |
0 | $180.25 | — |
| Mar 13, 2026 | Gilbert Ray Cisneros, Jr. |
0 | $180.25 | — |
| Mar 13, 2026 | Gilbert Ray Cisneros, Jr. |
0 | $180.25 | — |
| Mar 10, 2026 | Ro Khanna |
0 | $184.77 | — |
| Mar 10, 2026 | Ro Khanna |
0 | $184.77 | — |
| Mar 10, 2026 | Ro Khanna |
0 | $184.77 | — |
| Feb 24, 2026 | Ro Khanna |
0 | $192.85 | — |
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In the full deep dive
Questions
What growth does NVIDIA's stock price imply?
At a market value of $5.63T, NVIDIA would need its free cash flow to grow about 19% a year for 10 years (discounted at 9%, 3% growth after that) to be worth today's price. Over the last 9 years its free cash flow grew 59% a year.
Are NVIDIA insiders buying the stock?
10 open-market insider purchases of NVDA in the last 12 months, from SEC Form 4 filings.
Which superinvestors own NVIDIA?
20 of the superinvestors Investingly tracks hold NVDA in their latest 13F, including Cliff Asness, Hersh Cohen, PRIMECAP Management.
Prices and ratios as of Oct 7, 2026; statements from SEC filings. Information only, not investment advice. Superinvestor holdings come from 13F filings, which are filed up to 45 days after each quarter ends.