Nutanix, Inc. financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data Nutanix, Inc. files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025	FY2026
Revenue	846	1,155	1,236	1,308	1,394	1,581	1,863	2,149	2,538	2,854
Cost of revenue	327	386	304	287	292	321	332	324	335	377
Gross profit	519	769	932	1,021	1,102	1,260	1,531	1,825	2,203	2,477
Research and development	289	314	501	554	558	573	581	639	737	791
Selling and marketing	501	650	910	1,160	1,053	979	925	977	1,056	1,150
General and administrative	77.3	86.4	120	136	154	166	232	201	237	262
Operating expenses	867	1,050	1,530	1,850	1,765	1,718	1,738	1,817	2,031	2,203
Operating income	-348	-280	-598	-829	-662	-459	-207	7.56	173	274
Other non-operating income	-26.4	-9.31	-15	-26.3	-355	-321	-26.4	-109	39.1	53.1
Pre-tax income	-375	-290	-613	-855	-1,017	-780	-234	-101	212	327
Income tax	4.85	7.45	8.12	17.7	18.5	19.3	21	23.5	23.3	-1,180
Net income	-380	-297	-621	-873	-1,036	-799	1,507	-125	188	1,507
EBITDA	-310	-230	-520	-735	-568	-371	-131	80.8	245	345
EPS, basic	-2.96	-1.81	-3.43	-4.48	-5.02	-3.62	-1.09	-0.51	0.70	5.61
EPS, diluted	-2.96	-1.81	-3.43	-4.48	-5.02	-3.62	-1.09	-0.51	0.65	5.17
Shares, basic (weighted)	128	164	181	0.19	0.21	0.22	0.23	0.24	0.27	0.27
Shares, diluted (weighted)	128	164	181	0.19	0.21	0.22	0.23	0.24	0.29	0.29

Balance sheet

	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025	FY2026
Cash and equivalents	138	306	397	319	286	403	513	655	770	777
Short-term investments	211	628	512	401	928	921	924	339	1,223	1,584
Receivables	179	258	245	243	181	125	157	230	338	289
Other current assets	28.4	9.74	12	14.4	12.1	37.4	56.1	26.5	38.3	142
Total current assets	580	1,263	1,275	1,094	1,562	1,658	1,862	1,481	2,589	3,029
Property, plant and equipment	58.1	85.1	137	143	132	113	112	136	143	135
Lease right-of-use assets			0	127	106	119	93.6	109	135	164
Goodwill	16.7	87.8	185	185	185	185	185	185	185	185
Intangible assets	26	45.4	66.8	49.4	32	15.8	4.89	5.15	2.62	1.84
Other non-current assets	7.65	37.9	14.4	22.5	28	22.3	31.9	28	22.6	125
Total assets	738	1,600	1,786	1,769	2,277	2,366	2,527	2,144	3,283	5,074
Accounts payable	73.7	65.5	74	54	47.1	44.9	29.9	45.1	81.6	96.5
Accrued liabilities	9.71	31.7	28.8	25.9	39.4	59.6	109	25	24.2	36.1
Deferred revenue	170	276	397	535	636	721	824	955	1,054	1,247
Total current liabilities	311	458	599	760	928	1,161	1,136	1,244	1,414	1,684
Long-term debt	0	430
Lease liabilities			0	117	86.6	89.8	68.9	90.4	116	134
Other non-current liabilities	11.1	29.7	27.5	27.4	42.7	35.2	39.8	49.1	45.9	27.2
Total liabilities	521	1,273	1,599	2,044	3,290	3,166	3,234	2,872	3,978	4,371
Paid-in capital	948	1,356	1,836	2,245	2,615	3,584	3,931	4,119	4,200	4,416
Retained earnings	-731	-1,028	-1,649	-2,522	-3,627	-4,378	-4,633	-4,847	-4,896	-3,709
Other comprehensive income	-0.11	-1	0.67	2.03	-0.01	-6.08	-5.17	0.15	0.7	-4.9
Shareholders' equity	217	327	187	-283	-1,021	-801	-707	-728	-695	703
Total equity	217	327	187	-283	-1,021	-801	-707	-728	-695	703
Total liabilities and equity	738	1,600	1,786	1,769	2,277	2,366	2,527	2,144	3,283	5,074
Shares outstanding	155	173	189	202	214	227

Cash flow statement

	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025	FY2026
Net income	-380	-297	-621	-873	-1,036	-799	1,507	-125	188	1,507
Depreciation and amortization	38.4	50.3	77.6	93.8	94.4	88	76.4	73.2	72.7	70.6
Stock-based compensation	231	178	307	352	359	343	312	334	352	358
Deferred income tax	-3.54	-3.58	-7.47	-0.63	-3.42	-2.4	-1.03	2.52	3.64	-1,199
Change in receivables	-67.4	-79.3	15.7	4.33	64.5	61	-25.9	-53.8	-71.9	-39.2
Change in payables	21.3	-16.5	13.5	-16.6	-5.76	-1.46	-9.6	14.7	30	19.4
Cash from operations	14.8	92.5	42.2	-160	-99.8	67.5	272	673	821	917
Capital expenditures	-50.2	-62.4	-118	-89.5	-58.6	-49.1	-65.4	-75.3	-71.3	-76
Acquisitions	-0.18	-22.2	-19	0		0	0	-4.5	0	0
Purchases of investments	-243	-716	-468	-607	-1,393	-1,081	-955	-871	-1,360	-1,168
Sales and maturities of investments	32.6	0	0	646	784	1,058	965	774	476	805
Cash from investing	-176	-504	-16.9	24.6	-597	-54.2	-49.8	530	-952	-436
Debt issued	0	0			724	88.7	0	0	848	0
Debt repaid	-75	0	0
Stock issued	15.6	33.1	12.2	6.9	15.1	6.5	3.7	4.2	2.8	0.1
Share buybacks					-125	-58.6	0	-131	-308	-484
Cash from financing	201	579	67.1	57.8	664	104	-113	-1,063	244	-473
Net change in cash	40.1	168	92.4	-77.5	-33.1	117	110	140	114	7.81
Free cash flow	-35.4	30.2	-76.3	-249	-158	18.5	207	598	750	841
Interest paid	1.27	0	0
Income taxes paid	5.21	10.1	29	16.6	16.6	20.4	30.8	23.6	32.5	30.3

Key metrics

Worked out from the statements above. Latest values use fiscal 2026. Valuation uses the share price of $68.03 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	86.8%	Gross profit / revenue.
Operating margin	9.6%	Operating income / revenue.
EBITDA margin	12.1%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	11.5%	Pre-tax income / revenue.
Net margin	52.8%	Net income / revenue.
FCF margin	29.5%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	32.1%	Cash from operations / revenue.
Effective tax rate	-360.7%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	37,460.0%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	36.1%	Net income / average total assets.
R&D / revenue	27.7%	Research and development expense / revenue.
Stock-based pay / revenue	12.5%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	2.7%	Capital expenditures / revenue.
D&A / revenue	2.5%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	12.4%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	15.3%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	15.4%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	12.4%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	17.4%	Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y	17.6%	Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating income growth, 1y	58.8%	Operating income vs the same period a year earlier. Only from a positive base.
EBITDA growth, 1y	40.5%	EBITDA vs the same period a year earlier. Only from a positive base.
Net income growth, 1y	700.0%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	0.0%	Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS growth, 1y	695.4%	EPS vs the same period a year earlier. Only from a positive base.
Operating cash flow growth, 1y	11.6%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	49.9%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Free cash flow growth, 1y	12.1%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 3y	59.5%	Compound annual growth of free cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets growth, 1y	54.5%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	26.2%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	17.4%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	-0.6%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	7.8%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	7.2%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	1.80x	Current assets / current liabilities.
Quick ratio	1.57x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	1.40x	(Cash + short-term investments) / current liabilities.
Liabilities / assets	86.2%	Total liabilities / total assets.
Working capital	$1.34B	Current assets - current liabilities.
Goodwill and intangibles / assets	3.7%	(Goodwill + intangible assets) / total assets.
Tangible book value	$515.5M	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.68x	Revenue / average total assets.
Fixed asset turnover	20.6x	Revenue / average property, plant and equipment.
Receivables turnover	9.10x	Revenue / average receivables.
Days sales outstanding	40 days	365 x average receivables / revenue.
Days payables	86 days	365 x average accounts payable / cost of revenue.
FCF conversion	55.8%	Free cash flow / net income, when net income is positive.
Capex / operating cash flow	8.3%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	$5.17	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
EPS, basic	$5.61	Net income per basic share, as reported (split-adjusted).
Revenue per share	$9,766.00	Revenue / diluted weighted shares.
FCF per share	$2,877.00	Free cash flow / diluted weighted shares.
Operating cash flow per share	$3,137.00	Cash from operations / diluted weighted shares.
Book value per share	$2,405.00	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$1,764.00	Tangible book value / shares outstanding.
Cash per share	$8,082.00	(Cash + short-term investments) / shares outstanding.
Buybacks / FCF	57.5%	Share buybacks / free cash flow, when free cash flow is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$18.39B	Share price x shares outstanding.
Enterprise value	$16.03B	Market cap + total debt - cash - short-term investments.
P/E	12.2x	Market cap / net income. Only when net income is positive.
P/S	6.44x	Market cap / revenue.
P/B	26.2x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	35.7x	Market cap / tangible book value, when positive.
P/FCF	21.9x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	20.1x	Market cap / cash from operations, when positive.
EV/Sales	5.62x	Enterprise value / revenue.
EV/EBIT	58.5x	Enterprise value / operating income, when both are positive.
EV/EBITDA	46.5x	Enterprise value / EBITDA, when both are positive.
EV/FCF	19.1x	Enterprise value / free cash flow, when both are positive.
FCF yield	4.6%	Free cash flow / market cap.
Earnings yield	8.2%	Net income / market cap (the inverse of P/E).
Shareholder yield	2.6%	(Dividends paid + share buybacks) / market cap.

What was Nutanix, Inc.'s revenue in fiscal 2026?

Nutanix, Inc. reported revenue of $2.85B for fiscal 2026, 12.4% higher than the year before.

Was Nutanix, Inc. profitable in fiscal 2026?

Yes. Net income was $1.51B, a net margin of 52.8%.

How much free cash flow did Nutanix, Inc. generate in fiscal 2026?

Cash from operations of $916.7M minus capital expenditures of $76.0M left free cash flow of $840.7M.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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