Friday 6 November 2026
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Nutanix
NTNX Technology Software Infrastructure
Nutanix’s revenue for fiscal 2026 (year ended July 2026) was $2.9 billion, up 12.4% from fiscal 2025.
- Revenue
- +15.9%
- EPS
- +3,250.0%
- Free cash flow
- +33.6%
- Total debt
- +0.36%
Quarter to July 2026, against a year earlier
58.79
4.91
−7.71%
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Target Price Range
Analyst price targets
Free accountTen years at a glance Fiscal years to July
| Ten-year view | Analyst estimates Powerpack | ||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Group | Line | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Trend | 10 yrs | 2027e | 2028e | 2029e | Next 3/yr |
| Income, $m | |||||||||||||||||
| Income, $m | Revenue | 846 | 1,155 | 1,236 | 1,308 | 1,394 | 1,581 | 1,863 | 2,149 | 2,538 | 2,854 | +14.5% | 3,218 | 3,656 | 4,201 | +13.8% | |
| Gross margin, % | 61.30 | 66.59 | 75.40 | 78.08 | 79.07 | 79.68 | 82.17 | 84.92 | 86.81 | 86.80 | +25.5 pt | ||||||
| EBT | (375) | (290) | (613) | (855) | (1,017) | (780) | (234) | (101) | 212 | 327 | n/m | ||||||
| EBT margin, % | (44.31) | (25.07) | (49.59) | (65.40) | (72.94) | (49.32) | (12.54) | (4.72) | 8.34 | 11.46 | +55.8 pt | ||||||
| Net income | (380) | (297) | (621) | (873) | (1,036) | (799) | (255) | (125) | 188 | 1,507 | n/m | ||||||
| Per share, $ | |||||||||||||||||
| Per share, $ | Revenue | 6.59 | 7.04 | 6.83 | 6.72 | 6.75 | 7.17 | 7.99 | 8.78 | 9.49 | 10.62 | +5.4% | |||||
| Earnings | (2.96) | (1.81) | (3.43) | (4.48) | (5.01) | (3.62) | (1.09) | (0.51) | 0.70 | 5.61 | n/m | ||||||
| Cash flow | 0.12 | 0.56 | 0.23 | (0.82) | (0.48) | 0.31 | 1.17 | 2.75 | 3.07 | 3.41 | +45.7% | ||||||
| Capex | (0.39) | (0.38) | (0.65) | (0.46) | (0.28) | (0.22) | (0.28) | (0.31) | (0.27) | (0.28) | (3.5%) | ||||||
| Free cash flow | (0.28) | 0.18 | (0.42) | (1.28) | (0.77) | 0.08 | 0.89 | 2.44 | 2.80 | 3.13 | n/m | ||||||
| Book value | 1.69 | 1.99 | 1.03 | (1.41) | (4.90) | (3.63) | (3.03) | (2.98) | (2.60) | 2.61 | +5.0% | ||||||
| Shares, m | 128 | 164 | 181 | 195 | 206 | 221 | 233 | 245 | 267 | 269 | +8.6% | ||||||
| Valuation, × | |||||||||||||||||
| Valuation, × | P/E | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 107.39 | 10.59 | 11.8 | |||||
| P/S | 3.22 | 6.94 | 3.32 | 3.30 | 5.33 | 2.12 | 3.78 | 5.75 | 7.92 | 5.56 | 4.7 | ||||||
| P/B | 12.56 | 24.55 | 21.99 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 22.57 | 8.2 | ||||||
| EV/Sales | 2.90 | 6.51 | 2.96 | 3.13 | 5.22 | 2.02 | 3.66 | 5.56 | 7.67 | 5.20 | 4.5 | ||||||
| EV/FCF | (69.22) | 249.19 | (47.97) | (16.41) | (45.90) | 172.37 | 32.97 | 19.97 | 25.94 | 17.66 | 33.9 | ||||||
| Cash, $m | |||||||||||||||||
| Cash, $m | Operating cash flow | 15 | 93 | 42 | (160) | (100) | 68 | 272 | 673 | 821 | 917 | +58.2% | |||||
| Capex | (50) | (62) | (118) | (89) | (59) | (49) | (65) | (75) | (71) | (76) | +4.7% | ||||||
| Free cash flow | (35) | 30 | (76) | (249) | (158) | 18 | 207 | 598 | 750 | 841 | n/m | ||||||
| Balance, $m | |||||||||||||||||
| Balance, $m | Working capital | 269 | 805 | 676 | 334 | 634 | 497 | 726 | 237 | 1,176 | 1,344 | +19.6% | |||||
| Net debt | (349) | (505) | (450) | (230) | (158) | (168) | (219) | (424) | (649) | (1,013) | +12.6% | ||||||
| Shareholders’ equity | 217 | 327 | 187 | (275) | (1,012) | (801) | (707) | (728) | (695) | 703 | +13.9% | ||||||
| Returns, % | |||||||||||||||||
| Returns, % | ROA | (66.76) | (25.42) | (36.69) | (49.11) | (51.19) | (34.41) | (10.41) | (5.34) | 6.94 | 36.06 | +102.8 pt | |||||
| ROIC | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.0 pt | ||||||
| ROE | 476.78 | (109.28) | (241.86) | 1,981.93 | 160.93 | 88.16 | 33.76 | 17.38 | (26.48) | 37,461.61 | +36,984.8 pt | ||||||
| People | |||||||||||||||||
| People | Employees | 2,813 | 4,000 | 5,340 | 6,170 | 6,080 | 6,450 | 6,450 | 7,150 | 7,800 | 8,350 | +12.9% | |||||
| Revenue/emp, $m | 0.30 | 0.29 | 0.23 | 0.21 | 0.23 | 0.25 | 0.29 | 0.30 | 0.33 | 0.34 | +1.4% | ||||||
Negative figures in brackets.
estimates
Fiscal years to Jul 2026 · latest quarter Jul 2026 · fundamentals updated 25 Oct 2026
Business profile
Where the money comes from and where it goes Fiscal 2026
| Product | 1,490 | 52.20% |
|---|---|---|
| Support, Entitlements and Other Services | 1,364 | 47.80% |
| Gross margin | 86.80% | |
| Operating margin | 9.60% | |
| Pre-tax margin | 11.46% |
Nutanix vs peers in Software Infrastructure (Q) = latest quarter vs a year earlier
| Company | Market cap | P/E | Fwd P/E | Revenue growth (Q) | EPS growth (Q) | FCF growth (Q) | Gross margin (Q) | EBIT margin (Q) | Compare |
|---|---|---|---|---|---|---|---|---|---|
| RBRK Rubrik, Inc. | $21.9B | — (loss-making) | — (loss-making) | +37.89% (above 0%: growing) | n/m | +14.13% (above 0%: growing) | 78.44% | (16.83%) | Compare |
| TOST Toast, Inc. | $20.4B | 37.6× | 33.1× | +21.31% (above 0%: growing) | +62.17% (above 0%: growing) | +18.30% (above 0%: growing) | 27.41% | 8.33% | Compare |
| GEN Gen Digital Inc. | $18.2B | 15.3× | 16.9× | +12.21% (above 0%: growing) | +118.86% (above 0%: growing) | +201.87% (above 0%: growing) | 75.89% | 37.03% | Compare |
| FFIV F5, Inc. | $17.7B | 24.6× | 36.4× | +13.25% (above 0%: growing) | −0.63% (below 0%: shrinking) | −52.44% (below 0%: shrinking) | 82.24% | 23.08% | Compare |
| KSPI Joint Stock Company Kaspi.kz Sponsored ADR | $17.4B | 8.5× | 6.4× | +20.70% (above 0%: growing) | +5.19% (above 0%: growing) | +73.38% (above 0%: growing) | 74.32% | 0.00% | Compare |
| NTNX Nutanix | $16.0B | 10.6× | 53.4× | +15.89% (above 0%: growing) | +3,250.00% (above 0%: growing) | +33.59% (above 0%: growing) | 86.03% | 9.24% | |
| CHKP Check Point Software Technologies Ltd. | $15.1B | 17.7× | 19.7× | −1.14% (below 0%: shrinking) | −45.32% (below 0%: shrinking) | +9.88% (above 0%: growing) | 86.91% | 26.46% | Compare |
| GDDY GoDaddy Inc. | $14.6B | 16.4× | 15.6× | +6.05% (above 0%: growing) | +36.60% (above 0%: growing) | +9.40% (above 0%: growing) | 62.83% | 27.02% | Compare |
| AKAM Akamai Technologies, Inc. | $11.2B | 27.6× | 34.2× | +5.38% (above 0%: growing) | −23.61% (below 0%: shrinking) | −57.30% (below 0%: shrinking) | 55.81% | 7.30% | Compare |
| Median of peers | $17.6B | 17.7× | 19.7× | +12.73% | +5.19% | +12.01% | 75.11% | 15.71% |
Largest institutional holders 13F, quarter to 30 June 2026
Held by institutions
98.13%
Held by the ten largest
57.14%
| Holder | Shares | Stake | Change |
|---|---|---|---|
| Fidelity (FMR) | 39.61m | 14.65% | −228.87k |
| BlackRock | 27.77m | 10.27% | +458.70k |
| Vanguard | 27.05m | 10.01% | −1.18m |
| AQR Capital Management | 17.71m | 6.55% | +2.64m |
| Goldman Sachs | 9.55m | 3.53% | +5.09m |
| State Street | 8.20m | 3.03% | +102.03k |
| GENERATION INVESTMENT MANAGEMENT LLP | 6.71m | 2.48% | −794.66k |
| Assenagon Asset Management S.A. | 6.52m | 2.41% | +6.32m |
| BNY | 5.69m | 2.10% | +3.79m |
| Jericho Capital Asset Management L.P. | 5.67m | 2.10% | +1.75m |
13F filings for the quarter to 30 June 2026: long positions in US-listed shares reported by managers with $100m or more, ~45 days after the quarter.
Pay and ownership Proxy statement filed 20 October 2026
Chief executive’s pay
| Year | Total pay | Actually paid | $100 invested |
|---|---|---|---|
| 2026 | 29.49m | (21.69m) | 164.00 |
| 2025 | 22.57m | 73.38m | 209.00 |
| 2024 | 51.14m | 97.95m | 140.00 |
| 2023 | 14.85m | 38.68m | 84.00 |
| 2022 | 12.93m | 3.24m | 42.00 |
Ownership
Directors and executive officers, together
2.30%
Entities affiliated with Fidelity
13.40%
Entities affiliated with BlackRock
10.20%
Entities affiliated with AQR Capital Management LLC
5.60%
Entities affiliated with Vanguard Capital Management
5.20%
Total pay is as the Summary Compensation Table states it; actually paid revalues the year’s share awards
at its end, as the SEC’s pay-versus-performance rule asks. $100 invested is what $100 in the company’s
shares at the start of the earliest year shown was worth at each year’s end.
Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more.
Read the proxy statement
Nutanix (NTNX) Latest News
29 Oct
27 Oct
21 Oct
2 Oct
1 Oct
NTNX metrics, ten years each
- Revenue
- Net income
- EPS (diluted)
- EBITDA
- Free cash flow
- Operating cash flow
- Gross margin
- Operating margin
- Net margin
- Free cash flow margin
- P/E ratio
- P/S ratio
- P/B ratio
- Price to free cash flow
- EV/EBITDA
- EV/Sales
- EV/FCF
- Return on equity
- Return on assets
- Return on invested capital
- Debt to equity
- Current ratio
- Total debt
- Shares outstanding
- Book value per share
- Revenue growth
- Piotroski F-score
- Altman Z-score
- Beneish M-score
Nutanix sells infrastructure software that organizations use to run applications, manage data and support AI workloads. Its platform is designed to work across a customer’s own data centers, public clouds and locations at the edge of a network. Nutanix was founded in 2009 and is headquartered in San Jose, California.
The Nutanix Cloud Platform combines computing, storage and networking resources in software. For a customer, that means resources from a group of servers can be managed as a single pool rather than as separate pieces of infrastructure. The platform also includes a hypervisor, software that allows multiple virtual machines to run on hardware, and tools for managing cloud environments.