NVIDIA Corporation (NVDA)vs Intel Corporation (INTC)

Quick verdict

Only one of these two chipmakers made money over the trailing year. NVIDIA earned $192.9bn of net income on $303.0bn of revenue in the twelve months to 26 July 2026; Intel lost $11.3bn on $57.0bn of revenue in the twelve months to 27 June 2026, with operating profit of minus $77m — essentially break-even at the operating line before a much larger bottom-line deficit. That single fact shapes everything below, and it is why the two cannot be lined up on an earnings multiple: Intel has no positive EPS for a P/E to be built on. On our factor scoring NVIDIA takes quality, balance sheet and income, and carries an overall score of 4.5 against Intel's 1.5. Valuation, growth and momentum all score as ties. NVIDIA is tagged high-growth, high-quality; Intel is tagged mature.

At-a-glance comparison

Business model and revenue mix

Both sit in the semiconductor industry and both trade on Nasdaq, but they monetise silicon differently. NVIDIA designs GPUs and accelerated-computing platforms sold into data-centre AI, gaming, professional visualisation and automotive, and outsources manufacture — a design-led model visible in a 74.67% gross margin. Intel designs and manufactures its own CPUs and other chips for PCs and data centres, and is additionally building a contract foundry business, which means carrying fabrication assets and their depreciation; its gross margin is 38.6%. Scale differs sharply too: NVIDIA's trailing revenue of $303.0bn is more than five times Intel's $57.0bn, and its market capitalisation of $5,551.7bn at the 4 September 2026 close dwarfs Intel's $483.2bn. One company sells intellectual property embodied in chips; the other sells chips it also has to build.

Valuation

Our valuation factor scores as a tie, and the reason is that the two are priced on different evidence. NVIDIA trades at 29.12 times trailing earnings, 18.32 times sales and 24.24 times book at the 4 September 2026 close, with EV/EBITDA of 27.64 and a free cash flow yield of 2.29%. Intel has no meaningful P/E because trailing EPS is negative at minus $2.09, so the comparison rests on 8.47 times sales, 5.52 times book, EV/EBITDA of 42.34 and a 0.59% free cash flow yield. On sales and book Intel is the cheaper of the two; on enterprise value to EBITDA and cash yield NVIDIA screens better despite its far higher headline multiples. Neither set of numbers dominates the other, which is precisely why the factor is too close to call.

Growth profile

Trajectories here run in opposite directions, yet the growth factor scores as a tie rather than a win for either. NVIDIA compounded revenue at 100.05% a year from fiscal 2023 to fiscal 2026 and at 66.9% a year from fiscal 2021, with EPS compounding 206.61% annually over the three-year span — rates measured against a pre-AI-boom base, so they describe an exceptional step-change rather than a repeatable run-rate. Intel's revenue shrank at 5.71% a year from fiscal 2022 to fiscal 2025 and at 7.46% a year from fiscal 2020, and no EPS growth rate is shown because the trailing result is a loss, making any such calculation arithmetic across a sign change rather than growth. The honest reading: one series is decelerating from extremes, the other is contracting.

Profitability and quality

Margins are where the gap is widest and least ambiguous. NVIDIA converted 74.67% of revenue into gross profit, 65.21% into operating profit and 63.66% into net profit over the twelve months to July 2026 — a net margin higher than most companies' gross margin. Intel's 38.6% gross margin fell to minus 0.14% at the operating line and minus 19.79% at the net line in the twelve months to June 2026, meaning costs below gross profit, including the loss items that widened the deficit well beyond the near-flat operating result, consumed the entire gross margin. Cash generation follows the same pattern: NVIDIA produced $127.0bn of free cash flow against Intel's $2.8bn. Our quality factor goes to NVIDIA, and on these figures the verdict is not marginal.

Balance-sheet risk

Financial position favours NVIDIA on every metric available. It held $22.4bn of cash against $33.4bn of total debt at 26 July 2026, giving net debt of just 0.05 times EBITDA, a current ratio of 4.59 and interest coverage of 425.82 times. Intel held $12.9bn of cash against $50.5bn of total debt at 27 June 2026, with net debt at 3.06 times EBITDA and a current ratio of 1.60. Intel's interest coverage has been withheld because it cannot be interpreted meaningfully when operating profit is negative — a coverage ratio built on a minus $77m operating result conveys nothing useful. The practical difference is flexibility: NVIDIA's leverage is close to nil while it funds capacity and buybacks, whereas Intel carries roughly three years of EBITDA in net debt while rebuilding its foundry operations.

Price performance and shareholder returns

Capital returns split cleanly. NVIDIA generated a 117.21% return on equity and 69.14% return on invested capital over the trailing year; the ROE figure is flattered by an equity base of $229.0bn that buybacks have held down relative to earnings, so the 69.14% ROIC is the more reliable read — and it is still exceptional. Intel's returns are negative, at minus 11.68% on equity and minus 0.05% on invested capital, consistent with a loss-making period. On shareholder distributions, NVIDIA pays a 0.12% dividend yield from a 3.51% payout ratio and adds a 1% buyback yield, so the income factor goes to it despite the tiny absolute yield. Intel currently pays no dividend and shows a zero buyback yield, returning nothing to shareholders over the trailing period.

Which stock fits which investor

Growth-oriented and quality-oriented buyers are pointed to NVIDIA by these numbers: triple-digit three-year revenue compounding, a 69.14% ROIC and $127.0bn of free cash flow. Income seekers also land on NVIDIA by default, though a 0.12% dividend yield plus 1% buyback yield is a thin income case in absolute terms — it wins only because Intel distributes nothing. Value screeners get no clear answer; the factor is a tie, with Intel cheaper on 8.47 times sales and 5.52 times book but more expensive on EV/EBITDA at 42.34 and offering a 0.59% free cash flow yield. Momentum is likewise a tie. Anyone considering Intel is effectively underwriting a turnaround in a business with a minus 19.79% net margin and 3.06 times net debt to EBITDA, not buying current earnings.

• Value: Too close to call
• Growth: NVDA
• Income: NVDA
• Quality: NVDA

Frequently asked questions

Which of NVIDIA and Intel was profitable over the trailing year?

NVIDIA. It reported $192.9bn of net income on $303.0bn of revenue in the twelve months to 26 July 2026. Intel reported a net loss of $11.3bn on $57.0bn of revenue in the twelve months to 27 June 2026, with trailing EPS of minus $2.09.

Why is there no P/E ratio shown for Intel?

A price-to-earnings ratio requires positive earnings. Intel's trailing EPS is minus $2.09, so no meaningful P/E exists. Price-to-sales of 8.47 and price-to-book of 5.52 are the usable valuation anchors, against NVIDIA's 18.32 times sales and 24.24 times book at the 4 September 2026 close.

Is Intel actually cheaper than NVIDIA?

It depends on the measure, which is why the valuation factor scores as a tie. Intel is cheaper on sales (8.47x versus 18.32x) and book (5.52x versus 24.24x), but more expensive on EV/EBITDA at 42.34 versus NVIDIA's 27.64, and its free cash flow yield of 0.59% trails NVIDIA's 2.29%.

Which company carries more balance-sheet risk?

Intel, on the available figures. It held $12.9bn of cash against $50.5bn of debt at 27 June 2026, with net debt at 3.06 times EBITDA and a current ratio of 1.60. NVIDIA's net debt was 0.05 times EBITDA with a 4.59 current ratio and 425.82 times interest coverage.

Does either company pay a dividend?

NVIDIA does, but modestly: a 0.12% yield from $0.28 per share over the trailing twelve months, with a 3.51% payout ratio, plus a 1% buyback yield. Intel's dividend yield and buyback yield are both zero over the trailing period.

Related comparisons

• AAPL vs INTC
• AAPL vs NVDA
• AMD vs INTC
• INTC vs MU
• NVDA vs AMD
• NVDA vs AVGO