NVIDIA (UKEX:NVDA) Cyclically Adjusted PB Ratio: 127.95 (As of Aug. 20, 2026) — 185% Above Median

Author: Vera Yuan Vera Yuan
Vera Yuan
Vera Yuan
Director of Data and Quant Analytics at GuruFocus
Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Reviewed by: Charlie Tian Charlie Tian
Charlie Tian
Charlie Tian
Founder & CEO of GuruFocus
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.

UKEX:NVDA NVIDIA Corp UKEX:NVDA
95 GF Score
Price ₴3,361.20
GF Value ₴5,937.41
! 4 Warning Signs
View Full Analysis

What is NVIDIA Cyclically Adjusted PB Ratio?

NVIDIA UKEX:NVDA 95 Cyclically Adjusted PB Ratio is 127.95 as of Aug. 20, 2026, which is 185% above its 10-year median of 44.84. GuruFocus rates UKEX:NVDA with a GF Score™ of 95/100 and a GF Value™ of ₴5,937.41. The stock has 4 warning signs investors should review. Among 726 Semiconductors companies, NVIDIA ranks worse than 99.86% on this metric.

As of today (2026-08-20), NVIDIA's current share price is ₴3361.20. NVIDIA's Cyclically Adjusted Book per Share for the quarter that ended in Apr. 2026 was ₴26.27. NVIDIA's Cyclically Adjusted PB Ratio for today is 127.95.

The historical rank and industry rank for NVIDIA's Cyclically Adjusted PB Ratio or its related term are showing as below:

UKEX:NVDA' s Cyclically Adjusted PB Ratio Range Over the Past 10 Years
Min: 9.3   Med: 44.84   Max: 196.84
Current: 139.5

During the past years, NVIDIA's highest Cyclically Adjusted PB Ratio was 196.84. The lowest was 9.30. And the median was 44.84.

UKEX:NVDA's Cyclically Adjusted PB Ratio is ranked worse than
99.86% of 726 companies
in the Semiconductors industry
Industry Median: 3.24 vs UKEX:NVDA: 139.50

The Shiller PE Ratio was first used by professor Robert Shiller. He uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings per share of a company over the past 10 years. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PB Ratio. The Cyclically Adjusted Book per Share is the average of the inflation adjusted book value per share of a company over the past 10 years.

NVIDIA's adjusted book value per share data for the three months ended in Apr. 2026 was ₴360.222. Add all the adjusted book value per share for the past 10 years together and divide the count will get our Cyclically Adjusted Book per Share, which is ₴26.27 for the trailing ten years ended in Apr. 2026.

Shiller PE for Stocks: The True Measure of Stock Valuation


NVIDIA  (UKEX:NVDA) Cyclically Adjusted PB Ratio Explanation

Compared with the regular PB Ratio, which works poorly for cyclical businesses, the Cyclically Adjusted PB Ratio smoothed out the fluctuations of book value during business cycles. Therefore it is more accurate in reflecting the valuation of the company.

If a company has consistent business performance, the Cyclically Adjusted PB Ratio should give similar results to regular PB Ratio.


NVIDIA Cyclically Adjusted PB Ratio Related Terms


NVIDIA Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for NVIDIA's Cyclically Adjusted PB Ratio can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

NVIDIA Cyclically Adjusted PB Ratio Chart

NVIDIA Annual Data
Trend Jan17 Jan18 Jan19 Jan20 Jan21 Jan22 Jan23 Jan24 Jan25 Jan26
Cyclically Adjusted PB Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only 61.71 39.57 100.19 138.76 143.40

NVIDIA Quarterly Data
Jul21 Oct21 Jan22 Apr22 Jul22 Oct22 Jan23 Apr23 Jul23 Oct23 Jan24 Apr24 Jul24 Oct24 Jan25 Apr25 Jul25 Oct25 Jan26 Apr26
Cyclically Adjusted PB Ratio Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 114.34 168.51 172.11 143.40 127.97

UKEX:NVDA vs AVGO, MU, AMD: Cyclically Adjusted PB Ratio Comparison

For the Semiconductors subindustry, NVIDIA's Cyclically Adjusted PB Ratio, along with its competitors' market caps and Cyclically Adjusted PB Ratio data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


NVIDIA Cyclically Adjusted PB Ratio vs Semiconductors Industry

For the Semiconductors industry and Technology sector, NVIDIA's Cyclically Adjusted PB Ratio distribution charts can be found below:

* The bar in red indicates where NVIDIA's Cyclically Adjusted PB Ratio falls into.


UKEX:NVDA
95GF Score
NVIDIA Corp UKEX:NVDA
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

NVIDIA Cyclically Adjusted PB Ratio Calculation

Like the Shiller PE Ratio, the Cyclically Adjusted PB Ratio takes the Book Value per Share from the past 10 years, adjusts it for inflation, and then calculates the average. This average is then used for the P/B calculation. Because it considers this 10-year average, it's often referred to as the CAPB Ratio.

The Shiller PE Ratio was first used by professor Robert Shiller to measure the valuation of the overall market. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PB Ratio.

NVIDIA's Cyclically Adjusted PB Ratio for today is calculated as

Cyclically Adjusted PB Ratio=Share Price/ Cyclically Adjusted Book per Share
=3361.20/26.27
=127.95

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

NVIDIA's Cyclically Adjusted Book per Share for the quarter that ended in Apr. 2026 is calculated as:

For example, NVIDIA's adjusted Book Value per Share data for the three months ended in Apr. 2026 was:

Adj_Book=Book Value per Share/CPI of Apr. 2026 (Change)*Current CPI (Apr. 2026)
=360.222/333.0200*333.0200
=360.222

Current CPI (Apr. 2026) = 333.0200.

NVIDIA Quarterly Data

Book Value per Share CPI Adj_Book
201607 9.344 240.628 12.932
201610 11.022 241.729 15.185
201701 10.991 242.839 15.073
201704 11.500 244.524 15.662
201707 11.108 244.786 15.112
201710 11.696 246.663 15.791
201801 13.757 247.867 18.483
201804 14.186 250.546 18.856
201807 16.142 252.006 21.331
201810 17.333 252.885 22.826
201901 17.202 251.712 22.759
201904 17.781 255.548 23.171
201907 18.939 256.571 24.582
201910 20.447 257.346 26.460
202001 22.234 257.971 28.702
202004 23.767 256.389 30.871
202007 25.164 259.101 32.343
202010 27.643 260.388 35.354
202101 30.404 261.582 38.707
202104 33.627 267.054 41.933
202107 37.816 273.003 46.129
202110 42.455 276.589 51.117
202201 47.399 281.148 56.144
202204 46.916 289.109 54.042
202207 42.772 296.276 48.077
202210 38.611 298.012 43.147
202301 40.001 299.170 44.527
202304 44.256 303.363 48.583
202307 49.717 305.691 54.162
202310 60.210 307.671 65.171
202401 77.854 308.417 84.065
202404 89.170 313.548 94.708
202407 105.685 314.540 111.894
202410 120.017 315.664 126.616
202501 144.656 317.671 151.645
202504 153.452 320.795 159.300
202507 183.568 323.048 189.234
202510 218.348 0.000
202601 288.872 325.252 295.771
202604 360.222 333.020 360.222

Add all the adjusted book value per share together and divide the count will get our Cyclically Adjusted Book per Share.

Please note that we use the CPI data of the country/region where the company is headquartered. If the CPI data for that country/region is not available, then we will use the CPI data of the United States as default.

What does a Cyclically Adjusted PB Ratio of 127.95 mean?
NVIDIA (UKEX:NVDA) has a Cyclically Adjusted PB Ratio of 127.95 as of Aug. 20, 2026. Cyclically Adjusted PB Ratio is the ratio of share price to a company's inflation-adjusted book value per share over a 10-year period. View historical data on NVIDIA and its competitors. This is 185% above median its historical median of 44.84. Over the past decade, NVIDIA's Cyclically Adjusted PB Ratio has ranged from 9.30 to 196.84. According to the industry distribution chart, NVIDIA ranks #725 out of 726 companies in the Semiconductors industry, placing it in the top 99.9%.
Is NVIDIA's Cyclically Adjusted PB Ratio too high?
NVIDIA's current Cyclically Adjusted PB Ratio of 127.95 is 185% above median its 10-year median of 44.84. Over the past 10 years, this metric has ranged from a low of 9.30 to a high of 196.84. The Semiconductors industry median Cyclically Adjusted PB Ratio is 3.24. NVIDIA's value of 127.95 is 3849.1% above this industry median. Based on the distribution chart, NVIDIA ranks #725 out of 726 companies in the Semiconductors industry, which is in the bottom quartile relative to peers. Overall, NVIDIA has a GF Score™ of 95/100, reflecting its overall financial health beyond just this single metric.
How does NVIDIA's Cyclically Adjusted PB Ratio compare to AVGO and MU?
According to the Semiconductors industry distribution chart, NVIDIA ranks #725 out of 726 companies for Cyclically Adjusted PB Ratio. This places NVIDIA in the lower half of its industry. The industry median Cyclically Adjusted PB Ratio is 3.24. NVIDIA's value of 127.95 is 3849.1% above this benchmark. Historically, NVIDIA's own Cyclically Adjusted PB Ratio has ranged from 9.30 to 196.84 over the past decade. While the company's 10-year median is 44.84 vs. the industry median of 3.24, NVIDIA has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Cyclically Adjusted PB Ratio for a Semiconductors company?
The median Cyclically Adjusted PB Ratio among Semiconductors companies is 3.24, based on 726 companies in the industry. Companies in the top quartile (top 25%) have a Cyclically Adjusted PB Ratio significantly above this median, while those in the bottom quartile fall well below. However, Cyclically Adjusted PB Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. NVIDIA's current Cyclically Adjusted PB Ratio of 127.95 is 3849.1% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Cyclically Adjusted PB Ratio mean?
A high Cyclically Adjusted PB Ratio can signal that a stock is expensive relative to its fundamentals. Cyclically Adjusted PB Ratio is the ratio of share price to a company's inflation-adjusted book value per share over a 10-year period. View historical data on NVIDIA and its competitors. For the Semiconductors industry, the median Cyclically Adjusted PB Ratio is 3.24 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. NVIDIA's current Cyclically Adjusted PB Ratio is 127.95, which is 185% above median its own 10-year median of 44.84. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is NVIDIA stock overvalued right now?
NVIDIA (UKEX:NVDA) has a current Cyclically Adjusted PB Ratio of 127.95. The stock's GF Value™ is ₴5,937.41, compared to a current price of ₴3,361.20 — trading 43.4% below its estimated fair value. The current Cyclically Adjusted PB Ratio is 127.95, which is 185% above median its 10-year median of 44.84 and 3849.1% above the Semiconductors industry median of 3.24. NVIDIA's overall GF Score™ is 95/100 with 4 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Cyclically Adjusted PB Ratio calculated?
Cyclically Adjusted PB Ratio is calculated from a company's financial statements. For NVIDIA (UKEX:NVDA), the current Cyclically Adjusted PB Ratio is 127.95 as of Aug. 20, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is NVIDIA (UKEX:NVDA) Overvalued in 2026?

Based on GuruFocus' analysis, NVIDIA stock appears to be undervalued. The current stock price of ₴3,361.20 is trading 43.4% below its estimated GF Value™ of ₴5,937.41.

Key valuation signals for UKEX:NVDA:

  • Cyclically Adjusted PB Ratio: 127.95 (185% above median its 10-year median of 44.84)
  • GF Value™: ₴5,937.41 vs. price of ₴3,361.20 (43.4% below fair value)
  • GF Score™: 95/100 with 4 warning signs
  • Industry Position: 3849.1% above the Semiconductors median (#725 of 726)

No single metric tells the full story. See the UKEX:NVDA stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


NVIDIA Business Description

Address 2788 San Tomas Expressway, Santa Clara, CA, USA, 95051
Nvidia is a leading developer of graphics processing units. Traditionally, GPUs were used to enhance the experience on computing platforms, most notably in gaming applications on PCs. GPU use cases have since emerged as important semiconductors used in artificial intelligence to run large language models. Nvidia not only offers AI GPUs, but also a software platform, Cuda, used for AI model development and training. Nvidia is also expanding its data center networking solutions, helping to tie GPUs together to handle complex workloads.
95GF Score

Get the complete analysis for UKEX:NVDA

Cyclically Adjusted PB Ratio is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

₴3,361.20
Price
₴5,937.41
GF Value