NVIDIA Stock: Is It Too Late to Buy After Recent Run?

NVIDIA's stock has been on a run lately, but some investors may be wondering if they've missed the boat. A $10,000 investment in NVIDIA (NVDA) three months ago would now be worth around $11,700 as of September 25, 2026.

However, despite this appreciation, the stock still trades near its ten-year low end. One metric that suggests a potential issue is the price-to-earnings ratio (P/E), which is currently at 28.1 times earnings. This is higher than the S&P 500's P/E of 22.1 and above NVIDIA's own past range of 19.6 to 143.1.

But a low P/E only stays low if profit holds up, and NVIDIA's operating margin is at its highest in ten years at 65%. If margins were to slip back towards the three-year average of 59%, the same price would buy less profit.