NVIDIA's forward price-to-earnings (P/E) ratio, based on its projected profits over the next 12 months, has fallen below 17x, nearing its lowest level in over a decade, according to Bloomberg data. This valuation multiple is half of what it was in 2025, when NVIDIA's revenue and profit growth were slower, and also below the over 25x forward P/E ratio seen in May of this year. This has sparked market concerns about NVIDIA's ability to sustain its high-growth profit outlook.