Advanced Micro Devices Inc (AMD) is overvalued and NVIDIA Corp (NVDA) is overvalued.
Both trade above our estimate of their intrinsic value. NVDA is the closer of the two: -46%, against -136% for AMD.
Values as of the 22 Sept 2026 close.
A 10.4x revenue multiple, adjusted for growth and margin, values the shares at $264.56; the price of $623.77 is 136% above that value.
Leak Score 48/100 on 10 of 12 signals
A 12.5x revenue multiple, adjusted for growth and margin, values the shares at $156.98; the price of $228.87 is 46% above that value.
Leak Score 71/100 on 10 of 12 signals
| Metric | AMD | NVDA |
|---|---|---|
| Verdict | Overvalued | Overvalued |
| Price | $623.77 | $228.87 |
| Intrinsic value | $264.56 | $156.98 |
| Margin of safety | -136% | -46% |
| Leak Score | 48/100 (10/12) | 71/100 (10/12) |
| Market cap | $1.02T | $5.52T |
| Revenue growth, 5 years | 28.8% | 66.9% |
| Operating margin | 15.7% | 65.2% |
| Net margin | 15.6% | 63.7% |
| Return on equity | 10.2% | 117.2% |
| Debt to equity | 0.06 | 0.17 |
| P/E | 160.1x | 28.9x |
| Forward P/E | 39.3x | 14.5x |
| P/B | 15.1x | 24.1x |
| Dividend yield | — | 0.3% |