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. In the quarter to July 2026, revenue grew 15.9%, EPS grew 3,250.0%, free cash flow grew 33.6% and total debt was flat, each against the same quarter a year earlier. Revenue growth for ten consecutive years, operating cash flow growth for five.
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Nutanix (NTNX) Altman Z-score
Nutanix's Altman Z-score for fiscal 2026 is 2.21, in the grey zone (1.81–2.99).
Altman Z-score, annual
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Annual newest first
| Period | Altman Z-score | Change (points) |
|---|---|---|
| FY2026 | 2.21 | (0.11) |
| FY2025 | 2.32 | 1.76 |
| FY2024 | 0.56 | 1.01 |
| FY2023 | −0.45 | 1.23 |
| FY2022 | −1.68 | (0.79) |
| FY2021 | −0.89 | 0.42 |
| FY2020 | −1.31 | (1.60) |
| FY2019 | 0.29 | (3.34) |
| FY2018 | 3.63 | 1.85 |
| FY2017 | 1.78 | — |
How fiscal 2026’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | 0.26 | — | 0.32 | |
| Retained earnings / total assets | (0.73) | — | −1.02 | |
| EBIT / total assets | 0.05 | — | 0.18 | |
| Market value of equity / total liabilities | 3.63 | — | 2.18 | |
| Sales / total assets | 0.56 | — | 0.56 | |
| Altman Z-score | Grey zone | 2.21 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Distress zone | −0.11 | ||
Z and Z″ put Nutanix in different zones: grey zone by Z, distress zone by Z″.
How the Altman Z-score works
Z = 1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets (Altman, 1968). The market value of equity is the close on the last trading day of the fiscal year times weighted basic shares.
Z″ = 6.56 × working capital ÷ total assets + 3.26 × retained earnings ÷ total assets + 6.72 × EBIT ÷ total assets + 1.05 × book equity ÷ total liabilities (Altman, Hartzell and Peck, 1995), the variant for non-manufacturing and asset-light companies.
| Zone | Z | Z″ |
|---|---|---|
| Safe zone | above 2.99 | above 2.60 |
| Grey zone | 1.81–2.99 | 1.10–2.60 |
| Distress zone | below 1.81 | below 1.10 |
Not worked out for banks, insurers and REITs, whose balance sheets the model does not describe, nor when a figure is missing or there is no share price in the week to the fiscal year end.
Altman Z-score against peers
| Company | Altman Z-score |
|---|---|
| TOST Toast, Inc. compare | 14.5× |
| IOT Samsara Inc. compare | 8.6× |
| CHKP Check Point Software Technologies Ltd. compare | 6.1× |
| FFIV F5, Inc. compare | 6.0× |
| NTNX Nutanix | 2.2× |
| GEN Gen Digital Inc. compare | 1.2× |
| GPN Global Payments Inc. compare | 0.9× |
| RBRK Rubrik, Inc. compare | 0.9× |
| KSPI Joint Stock Company Kaspi.kz Sponsored ADR compare | — |
What Altman Z-score is
The Altman Z-Score weighs working capital, retained earnings, operating profit, market value and sales against assets and debts to gauge the risk of distress.
1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets