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) Beneish M-score
Nutanix's Beneish M-score for fiscal 2026 is −1.45; values above −1.78 are the model's flag for possible earnings manipulation — a statistical screen, not a finding.
Beneish M-score, annual
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Annual newest first
| Period | Beneish M-score | Change (points) |
|---|---|---|
| FY2026 | −1.45 | 1.64 |
| FY2025 | −3.08 | 0.66 |
| FY2024 | −3.74 | (0.49) |
| FY2023 | −3.26 | 1.20 |
| FY2022 | −4.46 | 0.30 |
| FY2021 | −4.76 | (0.44) |
| FY2020 | −4.32 | (0.06) |
| FY2019 | −4.26 | (0.94) |
| FY2018 | −3.32 | 0.53 |
| FY2017 | −3.84 | (1.17) |
How fiscal 2026’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Days’ sales in receivables index | 0.76 | — | 0.70 | |
| Gross margin index | 1.00 | — | 0.53 | |
| Asset quality index | 2.24 | — | 0.91 | |
| Sales growth index | 1.12 | — | 1.00 | |
| Depreciation index | 0.97 | — | 0.11 | |
| SG&A index | 0.97 | — | −0.17 | |
| Total accruals to total assets | 0.12 | — | 0.54 | |
| Leverage index | 0.71 | — | −0.23 | |
| Beneish M-score | Flagged by the model | −1.45 | ||
How the Beneish M-score works
M = −4.84 + 0.920 × DSRI + 0.528 × GMI + 0.404 × AQI + 0.892 × SGI + 0.115 × DEPI − 0.172 × SGAI + 4.679 × TATA − 0.327 × LVGI (Beneish, 1999): eight changes in the accounts from one fiscal year to the next, which the model weighs for the pattern seen in companies that later restated their earnings. Higher is worse.
| below −2.22 | Low — no pattern the model associates with manipulation |
|---|---|
| −2.22 to −1.78 | Elevated |
| above −1.78 | Flagged by the model |
−1.78 is the cut-off usually quoted from the paper, −2.22 a common conservative one. A statistical screen, not a finding of wrongdoing.
When asset quality, depreciation or SG&A cannot be worked out, that index is set to 1, as Beneish did, and the breakdown says so; with all three missing there is no score. Depreciation includes amortisation, and asset quality leaves out securities. Not worked out for banks, insurers and REITs.
Beneish M-score against peers
| Company | Beneish M-score |
|---|---|
| RBRK Rubrik, Inc. compare | −3.2× |
| TOST Toast, Inc. compare | −2.9× |
| CHKP Check Point Software Technologies Ltd. compare | −2.8× |
| FFIV F5, Inc. compare | −2.8× |
| GPN Global Payments Inc. compare | −2.7× |
| IOT Samsara Inc. compare | −2.6× |
| GEN Gen Digital Inc. compare | −1.8× |
| NTNX Nutanix | −1.4× |
| KSPI Joint Stock Company Kaspi.kz Sponsored ADR compare | — |
What Beneish M-score is
The Beneish M-Score combines eight year-on-year changes in the accounts into a statistical screen for patterns seen in companies that overstated earnings.
−4.84 + 0.920 × DSRI + 0.528 × GMI + 0.404 × AQI + 0.892 × SGI + 0.115 × DEPI − 0.172 × SGAI + 4.679 × TATA − 0.327 × LVGI