A Business at a Glance
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Nutanix, Inc.
NTNX
$16.0B
Mkt Cap
$55.04
+4.58%
Nutanix, Inc. (NTNX) has a current P/E ratio of 59.8.
Nutanix, Inc. (NTNX) has a 5-year average return on invested capital (ROIC) of -10.1%. This is below average and may indicate limited pricing power.
Nutanix, Inc. (NTNX) has a market capitalization of $16M. It is classified as a small-cap stock.
Nutanix, Inc. (NTNX) does not currently pay a regular dividend. However, the company returns capital to shareholders through share buybacks, with a buyback yield of 1915.84%.
Nutanix, Inc. (NTNX) operates in the Services-Prepackaged Software industry, within the Technology sector.
Nutanix, Inc. (NTNX) reported annual revenue of $2.5 billion in its most recent fiscal year, based on SEC EDGAR filings.
Nutanix, Inc. (NTNX) has a net profit margin of 7.4%. This is a modest margin.
Nutanix is a hybrid multicloud computing platform company that provides a unified software platform enabling organizations to run applications, manage data, and deploy AI workloads across core data centers, edge locations, and public clouds. The company operates a subscription-based business model where products including support and entitlements are sold with defined contract durations, generating recurring annual recurring revenue (ARR). The Nutanix Cloud Platform combines hyperconverged infrastructure (HCI) capabilities—merging compute, storage, and networking—with native virtualization through Nutanix AHV, Kubernetes support, data services, network security, and cloud management tools, while increasingly supporting external storage from qualified partners and running on diverse server platforms to maximize customer choice. The platform serves enterprise customers across regulated industries, government agencies, and service providers seeking to standardize infrastructure and simplify operations, with land-and-expand unit economics where initial deployments expand to additional workloads and customer sites over time. Nutanix distributes through direct sales and OEM partnerships including Cisco and Dell, and is expanding addressable market opportunities through emerging solutions targeting cloud-native applications, enterprise AI workloads, and bare metal Kubernetes deployments.
【Supply constraints delaying conversions】 Management expects hardware supply constraints to continue impacting the timing of bookings conversion to revenue through fiscal 2027, with customers facing extended lead times for server procurement that delay their ability to deploy Nutanix software despite strong underlying demand and higher-than-expected bookings growth. The company is actively managing through these dynamics by supporting external storage solutions and expanding into new markets including bare metal Kubernetes and agentic AI applications, with several new solutions expected to become available within calendar year 2026 and contributing to growth in the second half of fiscal 2027. Operating margins are expected to expand over time as the company balances continued investment for growth against a large market opportunity while maintaining focus on operational efficiencies, with free cash flow generation remaining solid despite revenue timing shifts. Management remains confident in the fundamental strength of underlying demand, with bookings expectations for the full year higher than previously anticipated, and expects continued new logo additions and land-and-expand opportunities as customers increasingly adopt the platform for modern and AI workloads.
| Metric | Target | Period |
|---|---|---|
| Revenue | $725 million–$745 million | Q4 FY2026 |
| Non-GAAP Operating Margin | 21%–23% | Q4 FY2026 |
| Revenue | $2.82 billion–$2.84 billion | FY2026 |
| Non-GAAP Operating Margin | approximately 22.5% | FY2026 |
| Free Cash Flow | $760 million–$780 million | FY2026 |
| ARR Growth | mid-to-high teens | FY2029 |
Revenue (Q4 FY2026): “Our guidance for Q4 fiscal 2026 is as follows: revenue of $725 million-$745 million.”
Non-GAAP Operating Margin (Q4 FY2026): “Non-GAAP operating margin of 21%-23%.”
Revenue (FY2026): “Our updated guidance for fiscal year 2026 is as follows: revenue of $2.82 billion-$2.84 billion, an increase at the midpoint from our prior guidance.”
Non-GAAP Operating Margin (FY2026): “Non-GAAP operating margin of approximately 22.5%, an increase from our prior guidance.”
Free Cash Flow (FY2026): “free cash flow of $760 million-$780 million, representing a free cash flow margin of 27% at the midpoint, also an increase from our prior guidance.”
ARR Growth (FY2029): “provide an update on our medium-term target model, including mid-to-high teens revenue and ARR growth in FY 2029.”
Generated solely from the company's own reports listed below — not from third-party data. Hallucination risk is low. · Sources: 10-K, Q4 FY2026 Earnings Call, Q3 FY2026 Earnings Call, Q2 FY2026 Earnings Call, Q1 FY2026 Earnings Call
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 0 | 2.5B | 2.1B | 1.9B | 1.6B | 1.4B |
| Net Income | 0 | 188M | -125M | -255M | -799M | -1.0B |
| EPS | $0.00 | $0.65 | $-0.51 | $-1.09 | $-3.62 | $-5.02 |
| Free Cash Flow | 0 | 750M | 598M | 207M | 18M | -158M |
| ROIC | 0.0% | 5.7% | 0.3% | -8.2% | -19.4% | -29.1% |
| Gross Margin | - | 49.6% | 37.8% | 35.2% | 79.7% | 79.1% |
| Debt/Equity | 0.00 | -0.01 | -0.01 | -0.02 | -0.01 | -0.01 |
| Dividends/Share | $0.00 | - | - | - | - | - |
| Operating Income | 0 | 173M | 7.6M | -207M | -459M | -662M |
| Operating Margin | 0.0% | 6.8% | 0.4% | -11.1% | -29.0% | -47.5% |
| ROE | 0.0% | -26.5% | 17.4% | 33.8% | 87.7% | 158.9% |
| Shares Outstanding | 0M | 290M | 245M | 234M | 221M | 206M |
| Metric | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | ||||||||||||
| Revenue | 241M | 445M | 767M | 1.2B | 1.2B | 1.3B | 1.4B | 1.6B | 1.9B | 2.1B | 2.5B | 0 |
| Gross Margin | 58.2% | 74.8% | 67.6% | 66.6% | 75.4% | 78.1% | 79.1% | 79.7% | 35.2% | 37.8% | 49.6% | N/A |
| R&D | 74M | 116M | 289M | 314M | 501M | 554M | 558M | 573M | 581M | 639M | 737M | 737M |
| SG&A | 24M | 34M | 77M | 86M | 120M | 136M | 154M | 166M | 232M | 201M | 237M | 237M |
| EBIT | -119M | -105M | -348M | -280M | -598M | -829M | -662M | -459M | -207M | 7.6M | 173M | 0 |
| Op. Margin | -49.2% | -23.5% | -45.4% | -24.3% | -48.4% | -63.4% | -47.5% | -29.0% | -11.1% | 0.4% | 6.8% | 0.0% |
| Net Income | -126M | -108M | -380M | -297M | -621M | -873M | -1.0B | -799M | -255M | -125M | 188M | 0 |
| Net Margin | -52.2% | -24.3% | -49.5% | -25.7% | -50.3% | -66.8% | -74.3% | -50.5% | -13.7% | -5.8% | 7.4% | 0.0% |
| Non-Recurring | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 11M | 5.3M | 0 | 0 | 0 |
| Returns on Capital | ||||||||||||
| ROIC | N/A | -26.2% | -37.3% | -61.1% | -127.7% | -37.0% | -29.1% | -19.4% | -8.2% | 0.3% | 5.7% | 0.0% |
| ROE | 69.0% | 41.6% | -174.9% | -109.3% | -241.9% | N/A | 158.9% | 87.7% | 33.8% | 17.4% | -26.5% | 0.0% |
| ROA | N/A | -53.3% | -66.8% | -25.4% | -36.7% | -49.1% | -51.2% | -34.4% | -10.4% | -5.3% | 6.9% | 0.0% |
| Cash Flow | ||||||||||||
| Op. Cash Flow | -26M | 3.6M | 15M | 93M | 42M | -160M | -100M | 68M | 272M | 673M | 821M | 0 |
| Free Cash Flow | -49M | -39M | -35M | 30M | -76M | -249M | -158M | 18M | 207M | 598M | 750M | 0 |
| Owner Earnings | -59M | -43M | -255M | -136M | -342M | -606M | -553M | -364M | -116M | 266M | 397M | -424M |
| CapEx | 23M | 42M | 50M | 62M | 118M | 89M | 59M | 49M | 65M | 75M | 71M | 0 |
| Maint. CapEx | 17M | 26M | 38M | 50M | 78M | 94M | 94M | 88M | 76M | 73M | 73M | 73M |
| Growth CapEx | 6.7M | 16M | 12M | 12M | 41M | 0 | 0 | 0 | 0 | 2.1M | 0 | 0 |
| D&A | 17M | 26M | 38M | 50M | 78M | 94M | 94M | 88M | 76M | 73M | 73M | 73M |
| CapEx/OCF | N/A | N/A | 363.1% | 67.4% | 280.9% | N/A | N/A | 72.6% | 24.0% | 11.2% | 8.7% | 0.0% |
| Capital Allocation | ||||||||||||
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividend Yield | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | 0 | 0 | 0 | 0 | 0 | 0 | 125M | 59M | 0 | 131M | 308M | 308M |
| Buyback Yield | 0.0% | N/A | N/A | N/A | N/A | N/A | 1.7% | 1.8% | N/A | 1.1% | 1.4% | 1915.8% |
| Stock-Based Comp | 17M | 20M | 231M | 178M | 307M | 352M | 359M | 343M | 312M | 334M | 352M | 352M |
| Debt Repayment | 0 | 0 | 1.6M | 0 | 0 | 0 | 0 | 15M | 0 | 0 | 3.4M | 3.4M |
| Balance Sheet | ||||||||||||
| Net Debt | -68M | -26M | -349M | -505M | 62M | -76M | -277M | -392M | -500M | -645M | -763M | -670M |
| Cash & Equiv. | 68M | 99M | 138M | 306M | 397M | 319M | 286M | 403M | 513M | 655M | 770M | 2.0B |
| Long-Term Debt | 0 | 73M | 0 | 430M | 459M | 490M | 6.5M | 7.8M | 9.7M | 6.7M | 2.7M | 1.3M |
| Debt/Equity | 0.00 | -0.26 | 0.00 | 1.31 | 2.46 | -2.28 | -0.01 | -0.01 | -0.02 | -0.01 | -0.01 | 0.00 |
| Interest Coverage | N/A | -47.8 | -274.1 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Equity | -235M | -286M | 217M | 327M | 187M | -283M | -1.0B | -801M | -707M | -728M | -695M | -726M |
| Total Assets | N/A | 399M | 738M | 1.6B | 1.8B | 1.8B | 2.3B | 2.4B | 2.5B | 2.1B | 3.3B | 3.4B |
| Total Liabilities | 1.7M | 685M | 521M | 1.3B | 1.6B | 2.1B | 3.3B | 3.2B | 3.2B | 2.9B | 4.0B | 4.1B |
| Intangibles | N/A | 0 | 26M | 45M | 67M | 49M | 32M | 16M | 4.9M | 5.2M | 2.6M | 2.0M |
| Retained Earnings | N/A | -442M | -731M | -1.0B | -1.6B | -2.5B | -101M | -4.4B | -4.6B | -4.8B | -4.9B | -4.9B |
| Working Capital | N/A | 117M | 269M | 805M | 676M | 334M | 634M | 497M | 726M | 237M | 1.2B | 1.1B |
| Current Assets | N/A | 330M | 580M | 1.3B | 1.3B | 1.1B | 1.6B | 1.7B | 1.9B | 1.5B | 2.6B | 2.6B |
| Current Liabilities | N/A | 213M | 311M | 458M | 599M | 760M | 928M | 1.2B | 1.1B | 1.2B | 1.4B | 1.5B |
| Per Share Data | ||||||||||||
| EPS | -3.11 | -4.36 | -3.53 | -1.81 | -3.43 | -4.48 | -5.02 | -3.62 | -1.09 | -0.51 | 0.65 | 0.00 |
| Owner EPS | -1.46 | -1.73 | -2.37 | -0.83 | -1.89 | -3.11 | -2.68 | -1.65 | -0.50 | 1.09 | 1.37 | -1,453.09 |
| Book Value | -5.79 | -11.51 | 2.02 | 1.99 | 1.03 | -1.45 | -4.95 | -3.63 | -3.03 | -2.98 | -2.40 | -2,485.04 |
| Cash Flow/Share | -0.63 | 0.15 | 0.14 | 0.56 | 0.23 | -0.82 | -0.48 | 0.31 | 1.17 | 2.75 | 2.83 | 248.98 |
| Dividends/Share | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.00 |
| Shares Out. | 40.6M | 24.8M | 107.5M | 164.2M | 181.1M | 194.8M | 206.3M | 220.7M | 233.5M | 244.7M | 289.8M | 0.3M |
| Valuation | ||||||||||||
| P/E Ratio | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 114.3 | N/A |
| P/FCF | N/A | N/A | N/A | 282.4 | N/A | N/A | N/A | 178.5 | 33.6 | 20.2 | 28.7 | N/A |
| EV/EBIT | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 121.0 | N/A |
| Price/Book | N/A | N/A | 12.8 | 26.1 | 23.7 | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Price/Sales | N/A | N/A | 3.7 | 5.6 | 6.1 | 3.8 | 4.3 | 4.0 | 3.2 | 5.6 | 7.6 | N/A |
| FCF Yield | N/A | N/A | -1.3% | 0.4% | -1.7% | -5.9% | -2.1% | 0.6% | 3.0% | 4.9% | 3.5% | N/A |
| Market Cap | 0 | N/A | 2.8B | 8.5B | 4.4B | 4.2B | 7.5B | 3.3B | 7.0B | 12.1B | 21.5B | 16M |
| Avg. Price | 0.00 | N/A | 24.46 | 39.20 | 41.43 | 25.23 | 28.88 | 28.44 | 25.76 | 49.53 | 66.85 | 55.04 |
| Year-End Price | 0.00 | N/A | 21.74 | 51.89 | 24.50 | 21.79 | 36.49 | 14.95 | 29.78 | 49.42 | 74.28 | 55.04 |
Nutanix, Inc. passes 6 of 9 quality checks, suggesting mixed fundamentals.
On a free-cash-flow basis, the stock trades at 18.8x vs a median of 28.7x. The company's 5-year average gross margin is 56.3%. Total shareholder yield (buybacks) is 1915.8%. At current prices, the estimated annualized return to fair value is +80.3%.
Nutanix, Inc. (NTNX) generated $750 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
Nutanix, Inc. (NTNX) reported earnings per share (EPS) of $0.65 in its most recent fiscal year.
Nutanix, Inc. (NTNX) has a return on equity (ROE) of -26.5%. A negative ROE may indicate losses or negative equity.
Nutanix, Inc. (NTNX) has a 5-year average gross margin of 56.3%. This high margin suggests strong pricing power and a potential competitive moat.
The Ledger Terminal provides 11 years of financial data for Nutanix, Inc. (NTNX), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
Nutanix, Inc. (NTNX) has a book value per share of $-2.40, based on its most recent annual SEC filing.
Based on recent SEC filings and earnings disclosures, Management expects hardware supply constraints to continue impacting the timing of bookings conversion to revenue through fiscal 2027, with customers facing extended lead times for server procurement that delay their ability to deploy Nutanix software despite strong underlying demand and higher-than-expected bookings growth. The company is actively managing through these dynamics by supporting external storage solutions and expanding into new markets including bare metal Kubernetes and agentic AI applications, with several new solutions expected to become available within calendar year 2026 and contributing to growth in the second half of fiscal 2027. Operating margins are expected to expand over time as the company balances continued investment for growth against a large market opportunity while maintaining focus on operational efficiencies, with free cash flow generation remaining solid despite revenue timing shifts. Management remains confident in the fundamental strength of underlying demand, with bookings expectations for the full year higher than previously anticipated, and expects continued new logo additions and land-and-expand opportunities as customers increasingly adopt the platform for modern and AI workloads.
Based on recent SEC filings and earnings calls, Nutanix, Inc. (NTNX) has provided the following forward guidance: Revenue: $725 million–$745 million (Q4 FY2026); Non-GAAP Operating Margin: 21%–23% (Q4 FY2026); Revenue: $2.82 billion–$2.84 billion (FY2026); Non-GAAP Operating Margin: approximately 22.5% (FY2026); Free Cash Flow: $760 million–$780 million (FY2026), plus 1 additional metric.