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Nutanix, Inc. (NTNX)

POSITIVE
TechnologySoftware - InfrastructureUnited States

Fundamental

72

Preço

$66.89

Capitalização de Mercado

$18.02B

Parte 1 · Quanto vale a empresa

Visão Geral

Nutanix sells software that lets a company run its own private cloud on standard servers instead of renting capacity from Amazon, Microsoft or Google, or instead of buying expensive specialized storage hardware. The software pools compute, storage and virtualization into a single system that IT staff can manage from one console. It does not make the servers itself: customers buy the hardware from partners like Dell, Lenovo or HPE and install Nutanix's software on top of it.

Como gera receita

Nutanix sells software licenses and support as term subscriptions rather than one-time purchases, typically for three or five years, most of it recognized upfront when the contract starts with the remainder recognized ratably as support and services are delivered over the term. Most sales go through the same server makers and distributors whose hardware runs Nutanix's software, and through IT resellers, rather than direct to end customers, so its growth depends heavily on how well those partners choose to sell it.

Receita por segmento

Support, Entitlements and Other Services52.1%

Technical support, software updates and other services revenue, recognized gradually over the life of the subscription rather than upfront.

Product Revenue47.9%

Upfront software license fees recognized when a multi-year subscription contract begins, covering the core Nutanix Cloud Platform software.

Vantagem competitiva

Custos de mudança · Estreita

Once a company's virtual machines, storage and data run on Nutanix's platform, migrating away means re-architecting how servers are provisioned and risking downtime — the same friction that has driven customers away from VMware since Broadcom raised its prices. That friction protects Nutanix's installed base, but it is not unique: Nutanix itself is winning share by exploiting exactly this dynamic against a larger incumbent.

O que impulsiona a procura

Moderadamente cíclico

Demand depends on corporate IT budgets for data-center and private-cloud infrastructure, which slow when companies cut capital spending, but a large share of revenue comes from renewing multi-year subscriptions already in place rather than winning entirely new business each quarter. The bigger swing factor recently has been customers leaving VMware after Broadcom's price increases, a one-time tailwind rather than a recurring driver.

Principais riscos

  • Reliance on channel distributors and OEM hardware partners — Most sales go through distributors and hardware partners like Dell and Lenovo rather than direct to customers, and Nutanix's software depends on those partners' hardware being available and willing to bundle it.
  • A one-time competitive tailwind may fade — Recent growth has been boosted by customers leaving VMware over Broadcom's pricing changes; once that migration wave runs its course, Nutanix must generate growth from new demand rather than a rival's mistake.
  • Corporate IT spending cycles — New infrastructure purchases slow when companies cut capital budgets, and a large upfront-license component of revenue makes results more sensitive to the timing of big deals than a purely ratable subscription model would be.
  • Competition from public cloud and hyperconverged rivals — Customers can choose to move workloads to a public cloud provider instead of running private infrastructure at all, and rivals including VMware, Microsoft and smaller hyperconverged vendors compete for the same budgets.

Concentração de clientes

Nutanix sells mostly through a small number of large distributors rather than directly; in prior fiscal years its two largest distributors together represented close to half of revenue, though the company has not disclosed an updated figure for fiscal 2025.

Os argumentos a favor

Buyers argue that the exodus from VMware after Broadcom's price increases gives Nutanix years of migration business still to capture, that its subscription model builds a growing base of recurring renewal revenue, and that private and hybrid cloud remain a durable alternative to renting everything from a public cloud provider.

Os argumentos contra

Sellers fear that the VMware migration tailwind is temporary and growth slows once it fades, that heavy reliance on distributors and hardware partners limits Nutanix's control over its own sales motion, and that public cloud providers keep pulling workloads away from private infrastructure altogether.

Written by the editors, published on 18 de agosto de 2026

Direct competitors

Who this company fights with for the same customers

No editorial profile for this company yet

No competitor list for this company yet.

Balanço & Liquidez

Receita

$2.75B

Últimos 12 meses (até 30/04/2026)

Resultado Líquido

$276M

Últimos 12 meses (até 30/04/2026)

Fluxo de Caixa Livre

$750M

Capital Próprio Total

$-695M

Passivo Total

$3.98B

Rácio de Liquidez

1.78

Cobertura de Juros

-

Dívida/EBITDA

6.25

Resultados Por Ação

Receita & Resultado Líquido

Fluxo de Caixa Livre

Decomposição dos Resultados

Demonstração histórica

Margens ao longo do tempo

A dívida ao longo do tempo

Quanto pesa a dívida

Grelha do crescimento

Crescimento — Receitas

Estimativa de Valor Justo

Sobrevalorizada

Valor Justo

$46.61

Preço Atual

$66.89

Margem de Segurança

-43.5%

Intervalo de Valor Justo

$30.30 - $62.93

Métodos de Estimativa

Analyst Target:$61.71
DCF:$70.53
PE-based:$25.80
Graham Growth:$15.47
EPV:$8.04
Consenso dos Analistas:Comprar (15B / 10H / 0S)
Última Surpresa de Resultados:+28.63%

Métricas de Avaliação

Rácio P/E

69.46

ROE

-27.1%

Rácio P/B

-

P/FCF

23.38

Margem Bruta

87.1%

ROIC

9.5%

Radar de Rentabilidade

Value Creation (Economic Moat)

ROIC

9.5%

WACC

7.4%

ROIC − WACC

+2.1 pp

ROIC exceeds the cost of capital — the company is creating value for shareholders.

Critérios de Análise Fundamental

Aprovado (17)

  • EPS shows upward trend
  • Price CAGR 9.80%
  • ROIC 9.5%
  • Gross Margin 87.1%
  • P/FCF 23.38
  • Operating Margin 8.6%
  • Positive Free Cash Flow
  • CapEx intensity
  • Current Ratio
  • Return on Tangible Assets
  • Low reliance on intangibles
  • Revenue Growth 5Y 14.2%
  • Analyst Consensus 60% Buy
  • Earnings Surprise avg 15.3%
  • Earnings Quality (OCF/NI) 2.98
  • Net Margin Trend 10.0% vs 1.0%
  • Piotroski F-Score 7/9

Reprovado (4)

  • Debt/EBITDA
  • DCF valuation (Overvalued)
  • ROE -321.3%
  • Share Dilution 18.4%

Indisponível (6)

  • P/B Ratio NaN
  • Dividend Payout NaN%
  • Debt/Equity ratio
  • Interest Coverage
  • Price below Graham Number
  • PEG Ratio (need PE > 0 and growth > 0)

Piotroski F-Score

7/9

Saúde financeira sólida

score
criteria

Qualidade dos Resultados

2.98

Alta qualidade: resultados respaldados por caixa

Diluição de Ações

18.4%

A emitir novas ações, diluindo a participação

Governação

Equipa Executiva

NomeCargoIdade
Dr. Rajiv Ramaswami Ph.D.CEO & Director59
Ms. Rukmini SivaramanPrincipal Accounting Officer & CFO43
Mr. Brian Michael Martin J.D.Chief Legal Officer63
Mr. Tarkan ManerPresident & Chief Commercial Officer55
Ms. Mandy DhaliwalChief Marketing Officer-
Ms. Jennifer LepirdChief People Officer-
Mr. Dave GwynSenior Vice President of Worldwide Channels & Customer Success-
Mr. Inder SidhuChief Customer Experience Officer65
Mr. Sammy ZoghlamiSenior Vice President of Sales in EMEA-
Mr. Andrew BrindedChief Revenue Officer-

Risco de Auditoria

4

Risco do Conselho

2

Risco de Remuneração

3

Risco dos Direitos dos Acionistas

2

Parte 2 · O preço e o momento de entrar

Esta parte não serve para saber se a empresa vale: serve para escolher quando comprá-la, depois que os fundamentos te convenceram. Dentro: análise técnica, potencial, quedas históricas, exposição gama.

Latest News

Recent headlines for NTNX, sourced from Markets Gazette.

  • 5/27/2026NEUTRAL
    Nutanix Q3 2026 Earnings Call: Complete Transcript

    Nutanix Inc. held its Q3 2026 earnings call on May 27, 2026. The transcript of this call is now available, providing detailed insights into the company's financial performance, strategic initiatives, and future outlook. Investors and analysts can review the discussion for a comprehensive understanding of Nutanix's operational status and market positioning. The availability of the full transcript allows for a deeper dive into management's commentary on revenue, profitability, and growth drivers.

  • 2/26/2026NEGATIVE
    These Analysts Cut Their Forecasts On Nutanix After Q2 Results

    Analysts have reportedly lowered their forecasts for Nutanix Inc. (NTNX) following the company's second-quarter results. While some investment banks, including Wells Fargo, Needham, and Morgan Stanley, maintained their previous ratings, the overarching market sentiment, as indicated by the news title, points to a reduction in expectations. This development suggests potential downward pressure on the stock's future performance, as expert projections often influence investor confidence and purchasing decisions. Investors should closely monitor the company's upcoming actions and market reactions, as a downgrade in forecasts can precede periods of volatility or corrections.

via Markets Gazette