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Nutanix, Inc. key statistics and ratios

In fiscal 2026, Nutanix, Inc. had an operating margin of 9.6%, debt equal to 192.0% of equity and a current ratio of 1.80. Each ratio below is calculated from the figures on its income statement, balance sheet and cash flow pages.

Financial ratios

US$ thousands unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year2015Jul 20152016Jul 20162017Jul 20172018Jul 20182019Jul 20192020Jul 20202021Jul 20212022Jul 20222023Jul 20232024Jul 20242025Jul 20252026Jul 2026
Gross margin58.2%66.1%61.3%66.6%75.4%78.1%79.1%79.7%82.2%84.9%86.8%86.8%
Operating margin−49.2%−20.8%−41.2%−24.3%−48.4%−63.4%−47.5%−29.0%−11.1%0.4%6.8%9.6%
Net margin−52.2%−21.5%−44.9%−25.7%−50.3%−66.8%−74.3%−50.5%80.9%−5.8%7.4%52.8%
Free-cash-flow margin−20.3%−7.7%−4.2%2.6%−6.2%−19.1%−11.4%1.2%11.1%27.8%29.6%29.5%
Return on equity———−109.3%————————
Return on assets—−27.1%−66.8%−25.4%−36.7%−49.1%−51.2%−34.4%61.6%−5.3%6.9%36.1%
Asset turnover—1.261.490.990.730.740.690.680.760.920.940.68
Current ratio—1.551.862.762.131.441.681.431.641.191.831.80
Debt to equity——0.0%131.5%245.5%——————192.0%
Effective tax rate——————————11.0%—
R&D as % of revenue30.4%23.1%34.1%27.2%40.5%42.4%40.0%36.2%31.2%29.7%29.0%27.7%
Capital spending as % of revenue9.7%8.4%5.9%5.4%9.6%6.8%4.2%3.1%3.5%3.5%2.8%2.7%
Free cash flow ÷ net income————————13.7%—398.3%55.8%
Dividends and buybacks ÷ free cash flow———————316.9%0.0%21.9%41.0%57.5%

Returns use average equity or assets over the year. Return on equity is left blank when equity is negative or so small that the ratio says nothing (above ±200%); interest cover is left blank above 200 times. Price-based ratios such as P/E are on the valuation page.

Financial health

3 of 5 checks passed · July 31, 2026
What it owns · $5.1bn
Short-term assets $3.0bnLonger-term assets $2.0bn
What it owes, and who funded it · $5.1bn
Short-term liabilities $1.7bnLonger-term liabilities $2.7bnShareholders' equity $703m
  • Short-term assets cover short-term liabilities $3.0bn of assets due within a year against $1.7bn of liabilities due within a year.
  • Short-term assets cover long-term liabilities $3.0bn short-term assets against $2.7bn of longer-dated liabilities.
  • More cash than debt $777m of cash against $1.3bn of debt.
  • Debt below 40% of shareholders' equity Debt is 192% of equity.
  • Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
  • A year's operating cash flow covers at least 20% of debt $917m of operating cash flow against $1.3bn of debt.
  • Operating profit covers interest at least five times over Interest not separately reported. Not assessable.

From Nutanix, Inc.'s latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Moat

43 /100

Weak moat

How hard Nutanix's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 17 / 20

    Cash operating profit has been a median 12.9% of total assets over 10 years.

  • Pricing power 14 / 20

    Gross margin has been a median 79.4%, moving by 8.0 percentage points (standard deviation) across 10 years.

  • Durability 10 / 20

    Operating margin has been a median -26.6%; its worst year was -63.4%.

  • Cash conversion 7 / 20

    Free cash flow was positive in 6 of 10 years, at a median 1.9% of revenue.

  • Discipline 0 / 20

    The diluted share count rose 127.7% over five years; stock-based pay has been a median 19.2% of revenue.

AI disruption exposure: Medium. In this industry, AI could change how the product is made or sold, without replacing the core asset. The score above includes a 5-point deduction for that exposure (48 before it).

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Compare with peers

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Figures from Nutanix, Inc.'s SEC filings (10-K and 10-Q), retrieved October 20, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Nutanix, Inc.