Assertion Partly supported AI assessment confidence: 90% certainty 4/5 debate potential 3/5

Batnick: Nvidia got cheaper during its run as EPS sextupled

Michael Batnick · Decoding the NVIDIA Trade - With Michael Batnick · Jun 26, 2024 · at 9:26

Michael Batnick, managing partner at Ritholtz Wealth Management, discusses Nvidia's fundamentals and earnings surge with Alex Kantrowitz.

0:00 / 0:35exact quote · 35.0s

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“So Nvidia has gotten cheaper. Over the course of the run, because the fundamentals have outrun even the incredible share price. So over the last, so last year Nvidia earned a dollar nine. That was her earnings per share. Over the last 12 months, it's done six dollars and 12 cents. So it's earnings per share has sextupled over the last year, which is astronomical.”

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The claim, plainly

Nvidia became cheaper on a valuation multiple basis during its stock run because its earnings per share sextupled from $1.09 to $6.12 over a twelve-month period.

a quote alone can be ambiguous, so this restates it with the references and context of the conversation around it resolved. AI-written; the tape below the player is the source.

Assessment

Michael Batnick's core assertion that Nvidia's earnings per share sextupled over a 12-month period is accurate, but he conflated single-quarter earnings with 12-month earnings. NVIDIA's pre-split non-GAAP diluted EPS grew from $1.09 in Q1 FY2024 (three months ended April 30, 2023) to $6.12 in Q1 FY2025 (three months ended April 28, 2024), representing a 5.61x increase (~6x). On an actual trailing 12-month (TTM) non-GAAP basis, EPS grew from $3.06 to $18.00 over the same comparable periods, which also represents an approximate sextupling (5.88x). Thus, while the growth rate and exact numbers match NVIDIA's SEC filings, the $1.09 and $6.12 figures reflect single quarterly results rather than full trailing 12-month totals.

NVIDIA Form 10-Q and earnings release for Q1 FY2024 reported pre-split non-GAAP diluted EPS of $1.09 for the quarter ended April 30, 2023.
NVIDIA Form 10-Q and earnings release for Q1 FY2025 reported pre-split non-GAAP diluted EPS of $6.12 for the quarter ended April 28, 2024.
Actual TTM non-GAAP diluted EPS grew from $3.06 (ended Q1 FY24) to $18.00 (ended Q1 FY25), confirming a ~5.88x increase over the 12-month span.

Checked against

[1] nvidia.com [2] nvidia.com [3] sec.gov [4] sec.gov [5] scribd.com [6] nvidia.com [7] nvidia.com

"NVIDIA" non-GAAP diluted earnings per share FY24 FY23 Nvidia Q1 FY25 10-Q diluted earnings per share TTM "NVIDIA Announces Financial Results for First Quarter Fiscal 2024" "1.09" "NVIDIA Announces Financial Results for First Quarter Fiscal 2024" "Non-GAAP earnings per diluted share" "Q1 FY24" "Q1 FY25" "1.09" "6.12" Nvidia

assessed as of 2026-09-02

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Mentioned

Nvidia

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