NTNXNutanix, Inc.
Is the business good?
A genuinely good business: earnings fully cash-backed (4.2×) and margins widening.
Mixed fundamental signals. Nine pass/fail tests of year-over-year health from the filings.
Operating profit is fully backed by cash. Conversion is worsening vs a year ago.
Positive operating leverage, operating profit is growing faster than sales, so margins widen as the business scales.
Margin-driven, fat margins on slower asset turns. ROE 28% = margin × turnover × leverage.
Unless marked, from derived.
Against the whole market›
Percentile against every name Ryufin tracks. Higher is better; the tick marks the middle of the market. Context, not one of the checks above.
Where this answer is blind. The F-score rewards improvement, so an already-elite company can score mid-pack.
How good a business is NTNX?
Nutanix, Inc. keeps 9.6% of every revenue dollar as operating profit, against 5.8% for the median Software - Infrastructure name.
Operating margin · Software - Infrastructure median 5.8% · 12 months to Q4 2026
- Cash conversion
- 4.24×
Cash conversion · 5.35× a year ago · operating cash flow covers the operating profit after tax
- R&D as % of revenue
- 28%
R&D as % of revenue
- Gross margin
- 87%
Gross margin
| Year | Operating margin |
|---|---|
| FY2021 | −47% |
| FY2022 | −29% |
| FY2023 | −11% |
| FY2024 | 0.35% |
| FY2025 | 6.8% |
| FY2026 | 9.6% |
Details›
- Gross margin12 months to Q4 2026
- 87%
- Operating margin12 months to Q4 2026
- 9.6%
- Net margin12 months to Q4 2026
- 53%
- Free cash flow margin
- 29%
- R&D as % of revenue
- 28%
- Revenue, trailing twelve months
- $2.85B
- Free cash flow, trailing twelve months
- $841M
- Net income, trailing twelve months
- $1.51B
Margins, capital and share counts from the statements as filed with the SEC; cash conversion is operating cash flow over operating profit after tax.
Software, Infrastructure
Ranks #63 of 80 by RyuScore