Upside case
Bull case
$81+73.4%
NTNX would need investors to value it at roughly 43x earnings — about 18x more generous than today's 25x forward P/E. That requires meaningful multiple expansion on top of continued earnings growth.
Analysis OverviewBuyUpdated Jun 18, 2026
Nutanix, Inc. (NTNX) Stock Analysis
Wall Street verdict, consensus price target, and analyst rating breakdown — everything needed to frame the risk/reward at today's price.
Analyst consensus
Buy
Covering
32
analysts
20 bullish · 0 bearish · 32 covering NTNX
Strong Buy
0
Buy
20
Hold
12
Sell
0
Strong Sell
0
Consensus Target
$57
+20.8% vs today
Scenario Range
$39 – $81
Model bear to bull value window
Coverage
32
Published analyst ratings
Valuation Context
24.5x
Forward P/E · Market cap $12.7B
NTNX price targets
Three scenarios for where NTNX stock could go
Current
~$47
Confidence
58 / 100
Updated
Jun 18, 2026
Where we are now
Current · $47
Bear
$39
Base
$62
Bull
$81
Market caseClosest to today
Base case
$62+31.6%
At 32x on FY1 earnings, the base case reflects a reasonable but not stretched valuation. It prices in continued growth without assuming an exceptional setup.
Stress case
Bear case
$39-17.1%
If investor confidence fades or macro conditions deteriorate, a 4x multiple contraction could push NTNX down roughly 17% from where it trades now.
Not financial advice. Model confidence reflects internal scenario assumptions, not a guarantee of returns. Past performance does not predict future results.
Nutanix, Inc.
NTNX · NASDAQTechnologySoftware - InfrastructureJuly year-end
Nutanix provides a hyperconverged infrastructure platform that combines computing, storage, and virtualization into a single software solution. It generates revenue primarily through subscription software licenses — about 90% of total revenue — with the remainder from hardware sales and support services. The company's key advantage is its software-defined architecture that simplifies data center management and enables seamless hybrid cloud operations.
Market Cap
$12.7B
Revenue TTM
$2.7B
Net Income TTM
$276M
Net Margin
10.0%
NTNX Revenue and Earnings Performance
Quarterly beat-or-miss track record against analyst estimates, plus forward revenue and EPS outlook for the next two fiscal years.
EPS Beat Rate
100%Exceptional
12 quarters tracked
Revenue Beat Rate
83%Exceptional
vs consensus estimates
Avg EPS Surprise
+35.4%
above Street consensus
Beat / Miss Record
BeatMissLeft = EPS · Right = Revenue
Q3 2025
Q4 2025
Q1 2026
Q2 2026
Last 4 Quarters
EPS beats: 4 of 4Q3 2025
EPS
$0.37/$0.33
Revenue
$653M/$642M
Q4 2025
EPS
$0.41/$0.41
Revenue
$671M/$677M
Q1 2026
EPS
$0.56/$0.44
Revenue
$723M/$710M
Q2 2026
EPS
$0.47/$0.36
Revenue
$703M/$686M
| Quarter | EPS (Actual / Est) | EPS Surprise | Revenue (Actual / Est) | Rev Surprise |
|---|---|---|---|---|
| Q3 2025 | $0.37/$0.33 | +13.4% | $653M/$642M | +1.7% |
| Q4 2025 | $0.41/$0.41 | +0.1% | $671M/$677M | -0.9% |
| Q1 2026 | $0.56/$0.44 | +27.3% | $723M/$710M | +1.8% |
| Q2 2026 | $0.47/$0.36 | +32.1% | $703M/$686M | +2.4% |
FY1–FY2 Estimates
Revenue Outlook
FY1
$3.1B
+11.2% YoY
FY2
$3.3B
+8.3% YoY
EPS Outlook
FY1
$1.31
+36.5% YoY
FY2
$1.37
+4.7% YoY
Trailing FCF (TTM)$771M
FCF Margin: 28.0%
Next Earnings
—
Expected EPS
—
Expected Revenue
—
NTNX beat EPS estimates in 4 of 4 tracked quarters. A perfect track record raises the bar for the upcoming report.
NTNX Revenue Breakdown by Segment
Product and geographic revenue mix from the latest annual disclosure, with year-over-year growth by segment.
Latest disclosure
FY 2024
Total disclosed revenue $2.1B
Product Mix
Latest annual revenue by segment or product family
Subscription and Circulation
93.9%
YoY unavailable
Tap, hover, or focus a slice to inspect segment detail.
Geographic Mix
Latest annual revenue by reported region
UNITED STATES
55.3%
+14.4% YoY
Tap, hover, or focus a slice to inspect segment detail.
Subscription and Circulation is the largest disclosed segment at 93.9% of FY 2024 revenue, with no year-over-year comparison yet.
UNITED STATES is the largest reported region at 55.3%, up 14.4% YoY.
NTNX Valuation Snapshot
Current multiples compared to the S&P 500, the company's sector, and its own five-year average.
Relative Value Signal
Slightly expensive versus peers
Fair value est. $42 — implies -11.4% from today's price.
Premium to Fair Value
11.4%
above fair value
Deep DiscountFair ValueVery Expensive
vs S&P 500 Trailing P/E
NTNX
72.2x
vs
S&P 500
24.4x
+195% premium
vs Technology Trailing P/E
NTNX
72.2x
vs
Technology
29.0x
+149% premium
vs NTNX 5Y Avg P/E
Today
72.2x
vs
5Y Average
115.6x
38% discount
Forward PE
24.5x
S&P 500
18.8x
+30%
Technology
22.3x
+10%
5Y Avg
—
—
Trailing PE
72.2x
S&P 500
24.4x
+195%
Technology
29.0x
+149%
5Y Avg
115.6x
-38%
PEG Ratio
—
S&P 500
1.66x
—
Technology
1.51x
—
5Y Avg
—
—
EV/EBITDA
54.6x
S&P 500
15.2x
+259%
Technology
16.6x
+228%
5Y Avg
93.0x
-41%
Price/FCF
16.9x
S&P 500
20.7x
-18%
Technology
19.2x
-12%
5Y Avg
66.2x
-74%
Price/Sales
5.0x
S&P 500
3.1x
+62%
Technology
2.4x
+105%
5Y Avg
5.1x
-3%
Dividend Yield
—
S&P 500
1.91%
—
Technology
1.11%
—
5Y Avg
—
—
| Metric | NTNX | S&P 500 | Technology | 5Y Avg NTNX |
|---|---|---|---|---|
| Forward PE | 24.5x | 18.8x+30% | 22.3x+10% | — |
| Trailing PE | 72.2x | 24.4x+195% | 29.0x+149% | 115.6x-38% |
| PEG Ratio | — | 1.66x | 1.51x | — |
| EV/EBITDA | 54.6x | 15.2x+259% | 16.6x+228% | 93.0x-41% |
| Price/FCF | 16.9x | 20.7x-18% | 19.2x-12% | 66.2x-74% |
| Price/Sales | 5.0x | 3.1x+62% | 2.4x+105% | 5.1x |
| Dividend Yield | — | 1.91% | 1.11% | — |
NTNX trades above S&P 500 benchmarks on 4 of 5 measured multiples — commands a broad premium across most valuation dimensions.
Forward P/E and PEG reflect analyst consensus estimates. Historical averages use trailing ratios where forward data is unavailable.S&P 500 and sector benchmarks both use trailing median P/E — similar readings indicate the broader index and sector are priced alike.
Open valuation toolNTNX Financial Health
Verdict
Exceptional
NTNX generates $771M in free cash flow at a 28.0% margin — 688.9% ROIC signals a durable competitive advantage · returns 2.4% of market cap to shareholders annually.
Cash Engine
Revenue, margins, and cash generation
Revenue (TTM)
Trailing-twelve-month sales base
$2.7B
Revenue Growth
TTM vs prior year
+13.0%
Gross Margin
Gross profit as a share of revenue
87.1%
Operating Margin
Operating income divided by revenue
8.7%
Net Margin
Net income divided by revenue
10.0%
EPS (TTM)
Diluted earnings per share, trailing twelve months
$0.96
Free Cash Flow (TTM)
Cash generation after capex
$771M
FCF Margin
FCF as share of revenue — the primary cash quality signal
28.0%
Capital Quality
ROIC, leverage, and debt serviceability
ROIC
Return on invested capital — primary competitive quality signal
688.9%
ROA
Return on assets, trailing twelve months
8.3%
Cash & Equivalents
Liquid assets on the balance sheet
$770M
Net Debt
Total debt minus cash
$713M
Debt Serviceability
Net debt as a multiple of annual free cash flow
0.9× FCF
~0.9 years to full repayment at current FCF run-rate
ROE
Return on equity, trailing twelve months
—
Shareholder Returns
How capital is returned to owners
Total shareholder yield
2.4%
Dividend
—
Buyback
2.4%
Share Repurchases
Trailing buyback outflow — dollar magnitude of capital returned
$308M
Dividend / Share
Annualized trailing dividend per share
—
Payout Ratio
Share of earnings distributed as dividends
—
Shares Outstanding
Declining as buybacks retire shares
270M
All figures from the trailing twelve months. ROIC uses invested capital (equity + net debt).
Open full ratios pageNTNX Stock Risk Factors
Key factors that could pressure the stock price, compress the multiple, or weigh on future results.
AI analysis · updated June 18, 2026
High Risk
Stock Price Volatility
Nutanix stock experienced a significant decline of 17.75% following negative news, indicating high sensitivity to market sentiment.
Medium
Competitive Pressure
As a cloud computing company, Nutanix faces intense competition in virtualization and hybrid cloud solutions, potentially impacting market share.
Medium
Financial Health Concerns
Investors are advised to review Nutanix's fundamental analysis and financial health before investing, suggesting potential underlying risks.
Lower
Hybrid Cloud Adoption
While Nutanix offers strong hybrid cloud solutions, slower-than-expected adoption could limit growth opportunities.
Medium
Market Sentiment
Analyst reports and price targets indicate mixed sentiment, with some recommending caution before investing in NTNX.
These are risk mechanisms, not predictions. The key question is which would force a cut to earnings estimates or a lower multiple than the market currently prices in.
Why NTNX Stock Could Outperform
Structural drivers behind the upside case and why the stock could outperform over the next 12 months.
AI analysis · updated June 18, 2026
Unified cloud platform
Nutanix offers a unified platform that integrates infrastructure and management for seamless operations across clouds, enhancing efficiency and simplicity.
Hybrid cloud leadership
The company provides the agility of public cloud with the performance and security of private cloud, catering to diverse hybrid cloud needs.
Strong market position
Nutanix is recognized as a leader in hyperconverged infrastructure and hybrid cloud software, with a growing presence in virtualization and Kubernetes.
Improving financial performance
Analysts highlight Nutanix's improving financial metrics, signaling potential for sustained growth and profitability.
Sustainability impact
Generation Investment Management notes Nutanix's positive sustainability impact through efficient IT infrastructure management, appealing to ESG-focused investors.
Technical resource hub
Nutanix.dev provides extensive technical resources, fostering developer engagement and innovation in infrastructure and automation.
Compelling valuation
The stock is viewed as having strong moat and attractive valuation, with a detailed thesis supporting long-term growth prospects.
A real bull case compounds — each driver matters most when it strengthens margins, supports capital returns, and keeps the company above the market's minimum growth bar simultaneously.
NTNX Stock Price Performance
52-week range context and price returns across multiple time horizons. Dividend contribution is shown separately in the Capital Return section.
Current Price
$46.90
52W Range Position
27%
52-Week Range
Current price plotted between the 52-week low and high.
52-Week Low
$34.01
+37.9% from the low
52-Week High
$82.42
-43.1% from the high
1 Month
-1.16%
3 Month
+13.09%
YTD
-7.3%
1 Year
-36.3%
3Y CAGR
+17.1%
5Y CAGR
+4.9%
10Y CAGR
+2.4%
Range context matters because valuation compression and earnings misses rarely hit from the same starting point. A stock already far below its high can still fall, but it is no longer carrying the same embedded optimism as one pressing a fresh peak.
NTNX vs Peers
Valuation, growth, and margin comparison against the closest publicly traded peers for this company.
Peer Set
Accurate peer set
Forward PE
24.5x
vs 20.0x median
+23% above peer median
Revenue Growth
+11.2%
vs +6.6% median
+69% above peer median
Net Margin
10.0%
vs 5.9% median
+70% above peer median
| Company | Mkt Cap | Fwd PE | Rev Grw | Margin | Rating | Upside |
|---|---|---|---|---|---|---|
NTN NTNX Nutanix, Inc. | $12.7B | 24.5x | +11.2% | 10.0% | Buy | +20.8% |
CVL CVLT Commvault Systems, Inc. | $5.7B | 31.1x | +10.9% | 6.0% | Buy | +10.0% |
SCS SCSC ScanSource, Inc. | $1.0B | 12.6x | +5.1% | 2.4% | Hold | -13.4% |
PST PSTG Everpure, Inc | $28.5B | 37.6x | +6.6% | 5.9% | Buy | -0.3% |
HPE HPE Hewlett Packard Enterprise Company | $62.8B | 13.9x | +8.3% | 3.9% | Hold | +46.1% |
NTA NTAP NetApp, Inc. | $31.6B | 20.0x | +5.9% | 18.4% | Hold | +4.6% |
This peer comparison reflects companies with similar business models, product lines, or market positioning, supplemented by industry grouping when direct matches are limited.
NTNX Dividend and Capital Return
NTNX returns 2.4% annually — null% through dividends and 2.4% through buybacks.
Dividend UnknownFCF Unknown
Total Shareholder Yield
2.4%
Dividend + buyback return per year
Buyback Yield
2.4%
Dividend Yield
—
Payout Ratio
—
Dividend Profile
Yield, cadence, and growth quality
Dividend / Share
Trailing annualized cash dividend
$0.00
Growth Streak
Consecutive years of dividend increases
0Y
3Y Div CAGR
—
5Y Div CAGR
—
Ex-Dividend Date
—
Payment Cadence
—
0 payments over the last 12 months
Buyback Engine
How much per-share support comes from repurchases
Repurchases (TTM)
Cash used for buybacks in the latest trailing period
$308M
Estimated Shares Retired
7M
Approx. Share Reduction
2.4%
Shares Outstanding
Current diluted share count from the screening snapshot
270M
At 2.4%/year, buybacks mechanically lift EPS even with flat earnings — each remaining share represents a slightly larger piece of the company.
FAQ
7 questionsNTNX Investor Questions
Common questions answered from live analyst data and company financials.
01Is Nutanix, Inc. (NTNX) stock a buy or sell in 2026?
Nutanix, Inc. (NTNX) is rated Buy by Wall Street analysts as of 2026. Of 32 analysts covering the stock, 20 rate it Buy or Strong Buy, 12 rate it Hold, and 0 rate it Sell or Strong Sell. The consensus 12-month price target is $57, implying +20.8% from the current price of $47. The bear case scenario is $39 and the bull case is $81.
02What is the NTNX stock price target for 2026?
The Wall Street consensus price target for NTNX is $57 based on 32 analyst estimates. The high-end target is $62 (+32.2% from today), and the low-end target is $47 (+0.2%). The base case model target is $62.
03Is Nutanix, Inc. (NTNX) stock overvalued in 2026?
NTNX trades at 24.5x times forward earnings. The stock trades at a notable premium to the broad market, which is typical for businesses with strong free cash flow and above-average growth expectations. Based on current multiples versus the peer group, the relative model signals slightly expensive versus peers. Whether the stock is over or undervalued ultimately depends on whether consensus earnings estimates are achievable.
04What are the main risks for Nutanix, Inc. (NTNX) stock in 2026?
The primary risks for NTNX in 2026 are: (1) Stock Price Volatility — Nutanix stock experienced a significant decline of 17. (2) Competitive Pressure — As a cloud computing company, Nutanix faces intense competition in virtualization and hybrid cloud solutions, potentially impacting market share. (3) Financial Health Concerns — Investors are advised to review Nutanix's fundamental analysis and financial health before investing, suggesting potential underlying risks. Each factor has the potential to pressure earnings or compress the stock's valuation multiple.
05What is Nutanix, Inc.'s revenue and earnings forecast?
Analyst consensus estimates NTNX will report consensus revenue of $3.1B (+11.2% year-over-year) and EPS of $1.31 (+36.5% year-over-year) for the upcoming fiscal year. The following year, analysts project $3.3B in revenue.
06When does Nutanix, Inc. (NTNX) report its next earnings?
A confirmed upcoming earnings date for NTNX is not yet available. Check the Earnings section above for the most recent quarterly report dates and forward estimates.
07How much free cash flow does Nutanix, Inc. generate?
Nutanix, Inc. (NTNX) generated $771M in free cash flow over the trailing twelve months — a free cash flow margin of 28.0%. NTNX returns capital to shareholders through and share repurchases ($308M TTM).