As of Q4'26 (2026-01-25), NVIDIA's P/E ratio stands at 26.37, marking the lowest point in the observed period. This latest data point reflects a significant contraction compared to previous quarters, indicating a notable shift in market valuation. From Q1'24 to Q4'26, the P/E ratio has shown a pronounced downward trend, starting at a high of 200.70 in Q1'24 and declining sharply through 2024, with intermittent fluctuations in 2025 before reaching the current low. The most substantial decreases occurred between Q1'24 and Q3'24, and again from Q2'26 to Q4'26, suggesting periods of rapid earnings growth or valuation adjustments. Overall, the chart highlights a transition from elevated valuation multiples toward more moderate levels over the nearly three-year timeframe.