Advanced Micro Devices or NVIDIA: which stock is cheaper in 2026?
As of October 5, 2026, Advanced Micro Devices (AMD) trades at 161× earnings (P/E) and NVIDIA (NVDA) at 29.6×, according to Kaplio. The median across the 250 technology companies above $2bn in Kaplio's universe is 35.1×. Kaplio's verdict: Advanced Micro Devices, expensive; NVIDIA, cheap. Value range by multiples: $138 for Advanced Micro Devices and $278 for NVIDIA. Against its own value range, NVIDIA is the cheaper of the two today.
According to the Kaplio Summary
The same verdict as each company's page: price range by multiples, the four lights, the expected return if consensus is right and what Buffett and Lynch would say today.
| Advanced Micro Devices (AMD) | NVIDIA (NVDA) | |
|---|---|---|
| Summary valuation | expensive ($138) | cheap ($278) |
| The four lights | Valuation: P/E 160.9× (expensive) Business: ROIC 5 % (weak) Balance sheet: Net debt/EBITDA −0.1× (solid) Results: 7 of 8 (on track) | Valuation: P/E 29.6× (cheap) Business: ROIC 60 % (excellent) Balance sheet: Net debt/EBITDA 0.0× (solid) Results: 8 of 8 (on track) |
| Expected return (per year) | — | — |
| Buffett method | quality 56 · would not approve | quality 89 · too hard to value |
| Lynch method | outside his circle | fast grower · would not approve |
Metrics side by side
| Metric | Advanced Micro Devices (AMD) | NVIDIA (NVDA) |
|---|---|---|
| Overview | ||
| Market Cap | $1.0T | $5.7T |
| Price | $633.91 | $233.95 |
| Valuation | ||
| P/E | 161× | 29.6× |
| P/B | 15.3× | 24.7× |
| P/S | 24.9× | 18.7× |
| EV/EBITDA | 96.4× | 24.6× |
| FCF Yield | 0.8 % | 2.2 % |
| Dividend Yield | 0.0 % | 0.2 % |
| Profitability | ||
| ROIC | 5.0 % | 60.0 % |
| ROE | 10.1 % | 110.1 % |
| Gross Margin | 53.2 % | 74.7 % |
| Operating Margin | 15.7 % | 65.2 % |
| Net Margin | 15.6 % | 63.7 % |
| Growth | ||
| Revenue 5Y CAGR | 28.8 % | 66.9 % |
| EPS 5Y CAGR | 4.9 % | 93.9 % |
| FCF 5Y CAGR | 54.0 % | 83.1 % |
| Balance Sheet | ||
| Net Debt / EBITDA | -0.1× | 0.0× |
| Debt / Equity | 0.1× | 0.2× |
Trailing twelve months where available; otherwise the latest fiscal year. Growth: five-year compound annual rate.