Forensic Analysis · Software & SaaS · as of Nov 9, 2026
Nutanix, Inc. (NTNX)
A forensic read on Nutanix, Inc. built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.
D · Weak — demands caution
Forensic grade
Distress
Financial health
-0.1
Distress distance
Watch
Earnings quality
3
Forensic signals
12.4%
Revenue growth
This free snapshot doesn't read filing or proxy text, so the auditor-quality and governance checks that can lower a grade were not evaluated (auditor quality, say on pay, board independence, going concern). Those checks only ever lower a grade, so the full analysis can land below the grade above but never above it — treat it as the most favourable reading, not the settled one.
Nutanix, Inc. earns a D (Weak — demands caution) forensic quality grade, and its balance-sheet distress test reads -0.1, placing it in the Distress zone. 3 forensic signals were flagged in its latest SEC filings, led by share-count dilution.
What the filings flag
+9.3%/yr
FY2024–FY2026
Share-count dilution.Diluted share count changed +19% over the last 2 years to FY2026 (+9.3%/yr). The count is growing — 244.7M shares in FY2024, 292.2M in FY2026: more stock was issued than repurchased over this window, so aggregate results grew faster than their per-share equivalents. That's ~9.3% shaved off per-share growth every year — total profit has to grow that much just to keep earnings-per-share flat, and a stake held since FY2024 has been diluted ~16%.
13.3%
FY2026
Return on invested capital.Return on invested capital is 13.3% in the latest fiscal year. $1.4B of the $1.9B base at FY2026 is short-term investments (75.6%) — securities held beside cash, which the base keeps because only cash is subtracted from it; they earn the balance sheet's yield, which is not in the operating profit above, so this rate understates what the operating capital earns.
13% of rev
FY2026
Stock-based comp load.Stock-based compensation ran 13% of revenue and 43% of free cash flow in FY2026 — about $1.22 per diluted share. No cash left the business to pay it, which is why operating cash flow adds it back. Net of repurchases the diluted count still rose about 9.3% a year across FY2024–FY2026, and the rate is falling. Stock compensation is one source of that issuance; acquisition consideration, equity raises, convertibles and other employee plans also net into the count, and these figures do not separate them.
Key fundamentals
Latest Revenue$2.85B
Revenue Growth YoY+12.4%
Revenue CAGR (2yr)+15.2%
Net Margin52.8%
Free Cash Flow$840.7M
The forensic grade and screens above are free — no account needed. Want the AI investment read on top — the 0–100 rating, thesis, bull-vs-bear, red flags and the 12-month scenario, written from Nutanix, Inc.'s actual 10-K/10-Q/8-K filings?