Nutanix, Inc. (NTNX) stock analysis
Close on Nov 12, 2026Market cap $16.47BP/E –Yield –
StockData Score
Prices as of Nov 11, 2026How the score works
Mixed14 of 30 checks passed
Nutanix passes 14 of the 30 checks behind our score; 13 could not be run for lack of data and count as not passed. Each dot in the shape is one check — hover it for the numbers.
- Valuation
- 3/6
- Growth
- 3/6
- Past performance
- 3/6
- Financial health
- 5/6
- Dividend
- 0/6
What stands out
Margin of safety over 20%
The price is 99.8% below fair value, more than the 20% cushion we look for.
Trading below fair value
The share price of $60.14 is below our fair value estimate of $28503.45.
No debt
Nutanix has no borrowings on its latest balance sheet.
Revenue growing 10%+ a year
Revenue grew 15.3% a year over the last three fiscal years.
What to watch
Elevated bankruptcy risk
The Altman Z-score is 0.04; above 3 is the safe zone and below 1.8 the distress zone.
Gross margin slipping
Gross margin was 86.8% over the last twelve months, against 86.8% a year earlier.
No dividend
Nutanix has not paid a dividend in the last twelve months.
Valuation3/6
P/E against its history
Not enough price and earnings history to compare.
P/E against the industry
Needs positive earnings and enough profitable companies in the industry.
EV/EBITDA against its history
Needs positive EBITDA and price history.
P/B below the industry
Nutanix's price-to-book of 0.03 is below the Computer Programming, Data Processing, and Other Computer Related Services median of 3.32.
Trading below fair value
The share price of $60.14 is below our fair value estimate of $28503.45.
Margin of safety over 20%
The price is 99.8% below fair value, more than the 20% cushion we look for.
Growth3/6
Revenue growing 10%+ a year
Revenue grew 15.3% a year over the last three fiscal years.
EPS growth over 3 years
Needs positive EPS three years ago and today.
Earnings acceleration
Needs positive net income now, a year ago and five years ago.
Growing faster than the industry
Revenue grew 12.4% over the last twelve months; the Computer Programming, Data Processing, and Other Computer Related Services median is 9.6%.
Guidance raised
Nutanix raised its Fiscal 2026 Revenue outlook on May 27, 2026.
Gross margin slipping
Gross margin was 86.8% over the last twelve months, against 86.8% a year earlier.
Past performance3/6
Return on equity
Needs positive equity and five years of results.
Return on invested capital
Needs operating income and invested capital.
Return on equity above the industry
Nutanix's return on equity of 37460% is above the Computer Programming, Data Processing, and Other Computer Related Services median of -1.2%.
Earnings over 5 years
Needs positive net income five years ago and in the latest year.
Net margin above its 5-year average
Net margin was 52.8% over the last twelve months, against a 5-year average of 17.0%.
Net margin above the industry
Nutanix's net margin of 52.8% is above the Computer Programming, Data Processing, and Other Computer Related Services median of -4.8%.
Financial health5/6
No debt
Nutanix has no borrowings on its latest balance sheet.
Debt not rising
With no debt today, leverage cannot have risen.
Debt covered by cash flow
There is no debt to cover.
Interest well covered
No meaningful interest expense to cover.
Short-term assets cover short-term debts
Current assets are 1.80 times current liabilities.
Elevated bankruptcy risk
The Altman Z-score is 0.04; above 3 is the safe zone and below 1.8 the distress zone.
Dividend0/6
No dividend
Nutanix has not paid a dividend in the last twelve months.
Yield against Treasuries
No dividend.
Yield against the market
No dividend.
Dividend stability
No dividend.
Earnings cover
No dividend.
Cash-flow cover
No dividend.
Fair value
How we estimate itOur estimate per share
$28,503.45
The share price is 100% below this estimate.
| Method | Multiple used | Own 5Y median | Industry median | Value per share | Weight |
|---|---|---|---|---|---|
| EV/EBITDA | 18.8× | – | 18.8× | $30,262.01 | 70% |
| Earnings power | 10.3% cost of equity | – | – | $24,400.16 | 30% |
| Fair value | $28,503.45 | 100% | |||
Valuation over time
Using the earnings and balance sheet published at each date, not today's.
- P/B at month end
- Computer Programming, Data Processing, and Other Computer Related Services median 3.3
An estimate from reported numbers and market multiples, not a price target or investment advice. It can be far off for companies whose profits are about to change sharply.
Market risk
From the past year of daily prices.
Liquidity
Low risk
- Average value traded per day
- $166.16M
- Value traded per 1% price move
- $106.49M
Downside
High risk
- Typical loss in a bad month
- 27.7%
- Volatility (annualized)
- 47%
- Sharpe ratio, 1 year
- -0.45
- Beta to the S&P 500 (5Y)
- 1.08
Typical bad-month loss, week by week
Margins
Share of revenue, fiscal years 2014 to 2026
Gross margin
Operating margin
Net margin
Growth rates
Compound annual growth to fiscal 2026
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +12.4% | +15.3% | +15.4% | +18.9% | |
| Gross profit | +12.4% | +17.4% | +17.6% | +22.2% | |
| Operating income | +58.8% | – | – | – | |
| Net income | +700.0% | 0.0% | – | – | |
| EPS, diluted | +695.4% | – | – | – | |
| Free cash flow | +12.1% | +59.5% | – | – |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2017 | FY2021 | FY2026 | Trend |
|---|---|---|---|---|
| Return on equity | 1104.2% | 158.9% | 37460.2% | |
| Return on assets | -66.8% | -51.2% | 36.1% | |
| Current ratio | 1.86 | 1.68 | 1.80 | |
| Capex to revenue | 5.9% | 4.2% | 2.7% | |
| Diluted shares | 128M | 0M | 0M |
Where the cash went
Fiscal 2022 to 2026, five years combined
Nutanix generated $2.75B from operations and spent $1.32B on capital expenditure, dividends and share buybacks. 26% of that went back into the business.
DuPont analysis
Return on equity split into margin, efficiency and leverage
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2026 | 52.8% | 0.68× | 1038.77× | 37460.2% |
| FY2025 | 7.4% | 0.94× | -3.81× | -26.5% |
| FY2024 | -5.8% | 0.92× | -3.25× | 17.4% |
| FY2023 | 80.9% | 0.76× | -3.24× | -199.9% |
| FY2022 | -50.5% | 0.68× | -2.55× | 87.7% |
| FY2021 | -74.3% | 0.69× | -3.10× | 158.9% |
| FY2020 | -66.8% | 0.74× | -37.15× | 1824.5% |
| FY2019 | -50.3% | 0.73× | 6.59× | -241.9% |
| FY2018 | -25.7% | 0.99× | 4.30× | -109.3% |
| FY2017 | -44.9% | 1.49× | -16.54× | 1104.2% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2026 against fiscal 2025
- ProfitableNet income above zero$1.51B
- Cash generatingOperating cash flow above zero$916.69M
- Return on assets improvedROA up on the prior year8.8% → 45.9%
- Earnings backed by cashOperating cash flow above net income$916.69M vs $1.51B
- Less leverageLong-term debt to assets fell– → –
- Better liquidityCurrent ratio rose1.83 → 1.80
- No dilutionShare count did not rise0M → 0M
- Gross margin improvedGross margin up on the prior year86.81% → 86.80%
- More efficientAsset turnover rose1.18 → 0.87
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