Stock Analysis on Net

NVIDIA Corp. (NASDAQ:NVDA)

Enterprise Value to EBITDA (EV/EBITDA) 

Microsoft Excel

Earnings before Interest, Tax, Depreciation and Amortization (EBITDA)

NVIDIA Corp., EBITDA calculation

US$ in millions

Microsoft Excel
12 months ended: Jan 28, 2024 Jan 29, 2023 Jan 30, 2022 Jan 31, 2021 Jan 26, 2020 Jan 27, 2019
Net income 29,760 4,368 9,752 4,332 2,796 4,141
Add: Income tax expense 4,058 (187) 189 77 174 (245)
Earnings before tax (EBT) 33,818 4,181 9,941 4,409 2,970 3,896
Add: Interest expense 257 262 236 184 52 58
Earnings before interest and tax (EBIT) 34,075 4,443 10,177 4,593 3,022 3,954
Add: Depreciation and amortization 1,508 1,544 1,174 1,098 381 262
Earnings before interest, tax, depreciation and amortization (EBITDA) 35,583 5,987 11,351 5,691 3,403 4,216

Based on: 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).

Item Description The company
EBITDA To calculate EBITDA analysts start with net earnings. To that earnings number, interest, taxes, depreciation, and amortization are added. EBITDA as a pre-interest number is a flow to all providers of capital. NVIDIA Corp. EBITDA decreased from 2022 to 2023 but then increased from 2023 to 2024 exceeding 2022 level.

Enterprise Value to EBITDA Ratio, Current

NVIDIA Corp., current EV/EBITDA calculation, comparison to benchmarks

Microsoft Excel
Selected Financial Data (US$ in millions)
Enterprise value (EV) 2,195,100
Earnings before interest, tax, depreciation and amortization (EBITDA) 35,583
Valuation Ratio
EV/EBITDA 61.69
Benchmarks
EV/EBITDA, Competitors1
Advanced Micro Devices Inc. 74.93
Analog Devices Inc. 16.35
Applied Materials Inc. 19.55
Broadcom Inc. 29.11
Enphase Energy Inc. 24.63
Intel Corp. 18.61
KLA Corp. 21.34
Lam Research Corp. 21.45
Micron Technology Inc. 43.11
ON Semiconductor Corp. 10.07
Qualcomm Inc. 19.14
Texas Instruments Inc. 17.37
EV/EBITDA, Sector
Semiconductors & Semiconductor Equipment 46.86
EV/EBITDA, Industry
Information Technology 29.91

Based on: 10-K (reporting date: 2024-01-28).

1 Click competitor name to see calculations.

If the company EV/EBITDA is lower then the EV/EBITDA of benchmark then company is relatively undervalued.
Otherwise, if the company EV/EBITDA is higher then the EV/EBITDA of benchmark then company is relatively overvalued.


Enterprise Value to EBITDA Ratio, Historical

NVIDIA Corp., historical EV/EBITDA calculation, comparison to benchmarks

Microsoft Excel
Jan 28, 2024 Jan 29, 2023 Jan 30, 2022 Jan 31, 2021 Jan 26, 2020 Jan 27, 2019
Selected Financial Data (US$ in millions)
Enterprise value (EV)1 1,670,525 572,821 653,708 335,534 180,031 88,957
Earnings before interest, tax, depreciation and amortization (EBITDA)2 35,583 5,987 11,351 5,691 3,403 4,216
Valuation Ratio
EV/EBITDA3 46.95 95.68 57.59 58.96 52.90 21.10
Benchmarks
EV/EBITDA, Competitors4
Advanced Micro Devices Inc. 65.81 22.63 34.19 62.10 82.59
Analog Devices Inc. 15.56 16.23 38.55 23.61 18.67
Applied Materials Inc. 15.75 11.04 17.54 16.82 14.60
Broadcom Inc. 26.42 13.54 19.72 18.89 16.32
Enphase Energy Inc. 27.19 55.15 99.19 155.30 62.22
Intel Corp. 18.96 6.20 6.02 6.40 8.73
KLA Corp. 15.67 14.97 19.26 18.10 14.14
Lam Research Corp. 15.35 11.34 16.67 17.76 10.07
Micron Technology Inc. 32.38 3.26 6.05 6.46 3.90
ON Semiconductor Corp. 10.57 11.65 14.40 20.27 11.13
Qualcomm Inc. 12.82 7.84 12.76 19.49 10.55
Texas Instruments Inc. 16.36 14.69 15.54 21.75 17.73
EV/EBITDA, Sector
Semiconductors & Semiconductor Equipment 26.00 14.60 15.64 15.01 11.62
EV/EBITDA, Industry
Information Technology 23.37 18.32 20.41 19.60 14.44

Based on: 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).

1 See details »

2 See details »

3 2024 Calculation
EV/EBITDA = EV ÷ EBITDA
= 1,670,525 ÷ 35,583 = 46.95

4 Click competitor name to see calculations.

Valuation ratio Description The company
EV/EBITDA Enterprise value to earnings before interest, tax, depreciation and amortization is a valuation indicator for the overall company rather than common stock. NVIDIA Corp. EV/EBITDA ratio increased from 2022 to 2023 but then decreased significantly from 2023 to 2024.