Forensic Analysis · Technology / Software · as of Aug 11, 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
Grey Zone
Financial health
2.5
Distress distance
Clean
Earnings quality
4
Forensic signals
58.7
P / E (ttm)
$17.5B
Market cap
18.1%
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 (red flags, auditor quality, say on pay, board independence). 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 2.5, placing it in the Grey zone. 4 forensic signals were flagged in its latest SEC filings, led by share-count dilution.
What the filings flag
+10.1%/yr
FY2022–FY2025
Share-count dilution.Diluted share count changed +33% over the last 3 years to FY2025 (+10.1%/yr). The count is growing: more stock was issued than repurchased over this window, so aggregate results grew faster than their per-share equivalents. That's ~10.1% 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 FY2022 has been diluted ~25%.
14% of rev
FY2025
Stock-based comp load.Stock-based compensation ran 14% of revenue and 47% of free cash flow in FY2025. The cost of it is not in the cash flow — no cash left the business — it is in the count: holders gave up about 10.3% of the company a year, and that rate is not falling. That is the figure to weigh, not the share of free cash flow.
41d DSO
FY2024→FY2025
Receivables vs revenue.Days sales outstanding moved from 33 to 41 days FY2024→FY2025 (receivables +47% vs revenue +18%). Across FY2021–FY2025 the day count ran 55 → 35 → 28 → 33 → 41 days, so the latest reading sits on top of a record that was flat or falling before it — one year's move, not a direction the business has been travelling in. Receivables grew, but deferred revenue grew +10% over the same period too — rising alongside rising unearned revenue reads as upfront billing on multi-period contracts, not slipping collections.
14.0%
FY2025
Return on invested capital.Return on invested capital is 14.0% in the latest fiscal year and rising from -45% — a modest positive spread over its ~10% cost of capital — growth adds value, though not dramatically.
Key fundamentals
Latest Revenue$2.54B
Revenue Growth YoY+18.1%
Revenue CAGR (3yr)+17.1%
Net Margin7.4%
Free Cash Flow$750.2M
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?