Stock Analysis on Net

NVIDIA Corp. (NASDAQ:NVDA)

$24.99

Price to Book Value (P/BV)
since 2005

Microsoft Excel

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Calculation

NVIDIA Corp., P/BV, long-term trends, calculation

Microsoft Excel

Based on: 10-K (reporting date: 2025-01-26), 10-K (reporting date: 2024-01-28), 10-K (reporting date: 2023-01-29), 10-K (reporting date: 2022-01-30), 10-K (reporting date: 2021-01-31), 10-K (reporting date: 2020-01-26), 10-K (reporting date: 2019-01-27), 10-K (reporting date: 2018-01-28), 10-K (reporting date: 2017-01-29), 10-K (reporting date: 2016-01-31), 10-K (reporting date: 2015-01-25), 10-K (reporting date: 2014-01-26), 10-K (reporting date: 2013-01-27), 10-K (reporting date: 2012-01-29), 10-K (reporting date: 2011-01-30), 10-K (reporting date: 2010-01-31), 10-K (reporting date: 2009-01-25), 10-K (reporting date: 2008-01-27), 10-K (reporting date: 2007-01-28), 10-K (reporting date: 2006-01-29), 10-K (reporting date: 2005-01-30).

1 US$

2 Data adjusted for splits and stock dividends.

3 Closing price as at the filing date of NVIDIA Corp. Annual Report.


Share Price Trend
The share price exhibits substantial long-term growth from 2005 to 2025. Starting at a nominal value of $0.21 in 2005, it increases gradually with periods of fluctuation until around 2016, after which it experiences rapid acceleration. Notable spikes occur between 2016 and 2025, with the price rising from $2.57 in early 2017 to $131.28 by early 2025. This reflects a marked increase in market valuation over the two decades, especially in the last decade.
Book Value per Share (BVPS) Trend
The book value per share grows steadily from $0.06 in 2005 to $3.25 in 2025. The growth is gradual and consistent, without any significant volatility. Though the increase is moderate compared to the share price, the BVPS nearly doubles from 2023 ($1.72) to 2025 ($3.25), indicating an acceleration in the company’s net asset value per share in recent years.
Price-to-Book Value (P/BV) Ratio Trend
The P/BV ratio demonstrates notable volatility and an overall upward trend, reflecting the market's increasing premium on the company’s equity. In the earlier years, the ratio fluctuates moderately between about 1.6 and 5.7. From 2013, especially after 2016, there is a sharp increase in the ratio, peaking at over 40 in 2025. This substantial rise indicates that the market price is growing much faster than the book value, suggesting heightened investor expectations or perceived growth prospects.
Summary of Key Insights
The company’s market valuation, as reflected in share price, has grown exponentially in the past decade compared to steady increases in book value per share. The widening gap between share price and book value, evidenced by the rising P/BV ratio, implies strong investor confidence and growth potential perceived by the market. However, the elevated P/BV ratio also suggests increased market expectations, which may lead to higher valuation risk. The steady growth in BVPS supports the view of consistent underlying business performance and asset accumulation.

Comparison to Competitors

NVIDIA Corp., P/BV, long-term trends, comparison to competitors

Microsoft Excel

Based on: 10-K (reporting date: 2025-01-26), 10-K (reporting date: 2024-01-28), 10-K (reporting date: 2023-01-29), 10-K (reporting date: 2022-01-30), 10-K (reporting date: 2021-01-31), 10-K (reporting date: 2020-01-26), 10-K (reporting date: 2019-01-27), 10-K (reporting date: 2018-01-28), 10-K (reporting date: 2017-01-29), 10-K (reporting date: 2016-01-31), 10-K (reporting date: 2015-01-25), 10-K (reporting date: 2014-01-26), 10-K (reporting date: 2013-01-27), 10-K (reporting date: 2012-01-29), 10-K (reporting date: 2011-01-30), 10-K (reporting date: 2010-01-31), 10-K (reporting date: 2009-01-25), 10-K (reporting date: 2008-01-27), 10-K (reporting date: 2007-01-28), 10-K (reporting date: 2006-01-29), 10-K (reporting date: 2005-01-30).


Comparison to Sector (Semiconductors & Semiconductor Equipment)

NVIDIA Corp., P/BV, long-term trends, comparison to sector (semiconductors & semiconductor equipment)

Microsoft Excel

Based on: 10-K (reporting date: 2025-01-26), 10-K (reporting date: 2024-01-28), 10-K (reporting date: 2023-01-29), 10-K (reporting date: 2022-01-30), 10-K (reporting date: 2021-01-31), 10-K (reporting date: 2020-01-26), 10-K (reporting date: 2019-01-27), 10-K (reporting date: 2018-01-28), 10-K (reporting date: 2017-01-29), 10-K (reporting date: 2016-01-31), 10-K (reporting date: 2015-01-25), 10-K (reporting date: 2014-01-26), 10-K (reporting date: 2013-01-27), 10-K (reporting date: 2012-01-29), 10-K (reporting date: 2011-01-30), 10-K (reporting date: 2010-01-31), 10-K (reporting date: 2009-01-25), 10-K (reporting date: 2008-01-27), 10-K (reporting date: 2007-01-28), 10-K (reporting date: 2006-01-29), 10-K (reporting date: 2005-01-30).


Comparison to Industry (Information Technology)