Latest Ratios: P/E Ratio 82.7x · EV/EBITDA 62.2x · ROE N/A. (2013–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $14.5B | $22.1B | $12.4B | $7.0B | $3.3B | $7.4B | $4.3B | $4.1B | $8.0B | $2.7B | — |
| Enterprise Value | $15.2B | $22.8B | $12.4B | $7.9B | $4.4B | $8.3B | $4.6B | $4.2B | $8.1B | $2.6B | — |
| P/E Ratio → | 82.71 | 115.65 | — | — | — | — | — | — | — | — | — |
| P/S Ratio | 5.73 | 8.71 | 5.75 | 3.78 | 2.11 | 5.33 | 3.30 | 3.32 | 6.94 | 3.22 | — |
| P/B Ratio | — | — | — | — | — | — | — | 21.99 | 24.55 | 12.56 | — |
| P/FCF | 19.37 | 29.47 | 20.68 | 34.03 | 180.50 | — | — | — | 265.79 | — | — |
| P/OCF | 17.69 | 26.91 | 18.37 | 25.86 | 49.40 | — | — | 97.45 | 86.68 | 197.20 | — |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 8.99 | 5.77 | 4.22 | 2.77 | 5.98 | 3.55 | 3.37 | 7.05 | 3.06 | — |
| EV / EBITDA | 62.17 | 93.05 | 153.56 | — | — | — | — | — | — | — | — |
| EV / EBIT | 88.36 | 103.71 | 182.21 | — | — | — | — | — | — | — | — |
| EV / FCF | — | 30.42 | 20.75 | 37.98 | 236.70 | — | — | — | 269.89 | — | — |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 86.8% | 86.8% | 84.9% | 82.2% | 79.7% | 79.1% | 78.1% | 75.4% | 66.6% | 61.3% | 66.1% |
| Operating Margin | 6.8% | 6.8% | 0.4% | -11.1% | -29.0% | -47.5% | -63.4% | -48.4% | -24.3% | -41.2% | -20.8% |
| Net Profit Margin | 7.4% | 7.4% | -5.8% | -13.7% | -50.5% | -74.2% | -66.8% | -50.3% | -25.7% | -44.9% | -21.5% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | — | — | — | — | — | — | — | -241.9% | -109.3% | -174.9% | — |
| ROA | 6.9% | 6.9% | -5.3% | -10.4% | -34.4% | -51.1% | -49.1% | -36.7% | -25.4% | -66.8% | -33.4% |
| ROIC | 688.9% | 688.9% | — | -89.3% | -514.1% | — | -415.9% | -128.2% | -79.5% | -332.0% | — |
| ROCE | 12.5% | 12.5% | 0.7% | -16.0% | -35.9% | -56.2% | -75.5% | -51.4% | -35.7% | -113.6% | -63.2% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | — | — | — | — | — | — | — | 2.46 | 1.31 | — | — |
| Debt / EBITDA | 6.05 | 6.05 | 8.61 | — | — | — | — | — | — | — | — |
| Net Debt / Equity | — | — | — | — | — | — | — | 0.33 | 0.38 | -0.64 | — |
| Net Debt / EBITDA | 2.91 | 2.91 | 0.49 | — | — | — | — | — | — | — | — |
| Debt / FCF | — | 0.95 | 0.07 | 3.95 | 56.20 | — | — | — | 4.10 | — | — |
| Interest Coverage | 11.15 | 11.15 | 0.40 | -2.64 | -11.84 | -11.72 | -26.31 | -19.91 | -19.08 | — | -45.49 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.72 | 1.72 | 1.06 | 1.53 | 1.33 | 1.56 | 1.35 | 2.05 | 2.68 | 1.79 | 1.47 |
| Quick Ratio | 1.72 | 1.72 | 1.06 | 1.53 | 1.33 | 1.56 | 1.35 | 2.05 | 2.68 | 1.79 | 1.47 |
| Cash Ratio | 1.41 | 1.41 | 0.80 | 1.27 | 1.14 | 1.31 | 0.95 | 1.52 | 2.04 | 1.12 | 0.87 |
| Asset Turnover | — | 0.77 | 1.00 | 0.74 | 0.67 | 0.61 | 0.74 | 0.69 | 0.72 | 1.15 | 1.26 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | 50.09 | 40.40 | 31.98 | 30.50 | 49.49 | 72.42 | 73.98 | 81.59 | 77.18 | 80.23 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 1.2% | 0.9% | — | — | — | — | — | — | — | — | — |
| FCF Yield | 5.2% | 3.4% | 4.8% | 2.9% | 0.6% | — | — | — | 0.4% | — | — |
| Buyback Yield | 2.1% | 1.4% | 1.1% | 0.0% | 1.8% | 1.7% | 0.0% | 0.0% | 0.0% | 0.0% | — |
| Total Shareholder Yield | 2.1% | 1.4% | 1.1% | 0.0% | 1.8% | 1.7% | 0.0% | 0.0% | 0.0% | 0.0% | — |
| Shares Outstanding | — | $294M | $245M | $233M | $221M | $206M | $195M | $181M | $164M | $128M | $136M |
High Stock-Based Compensation Dilution
According to current market data, Nutanix trades at a forward P/E of 25.99, a valuation that appears to price in a scarcity premium as one of the few independent alternatives to the Broadcom-VMware ecosystem, despite the broader deceleration in top-line growth observed in recent quarterly filings.
The current P/S multiple of 5.30 suggests investors are willing to pay a premium for the company's recurring revenue transition, yet the lack of a PEG ratio highlights the difficulty in justifying this valuation through near-term earnings growth alone. Investors should monitor whether the company can sustain this multiple if the pace of VMware customer migration fails to accelerate as anticipated.
Based on reported financial statements, Nutanix has demonstrated a significant improvement in ROIC, reaching 57.2% in 2026Q3, which suggests that the company is becoming increasingly efficient at deploying capital within its software-defined architecture compared to the negative returns recorded in previous fiscal periods.
This sharp recovery in ROIC appears to be driven by the successful pivot to a subscription-only model and the resulting expansion in gross margins. However, analysts should interpret these returns with caution, as the persistent negative equity position and high stock-based compensation may artificially inflate return metrics by suppressing the denominator in capital calculations.
As reported in recent financial disclosures, Nutanix's DSO has fluctuated between 27 and 48 days over the last ten quarters, indicating that while the company maintains relatively efficient collection cycles, the variability suggests potential sensitivity to the timing of large enterprise contract renewals and multi-year billing structures.
The DPO trend, which has expanded from 42 to 87 days over the same period, suggests that Nutanix is effectively leveraging its supplier relationships to preserve cash. This improvement in working capital management appears to be a structural benefit of the shift toward a software-centric business model, though it warrants ongoing monitoring for signs of customer payment friction.
Based on an analysis of the company's financial structure, the most commonly misapplied metric for Nutanix is GAAP net income, which frequently obscures the underlying economic reality of the business due to the significant and persistent impact of non-cash stock-based compensation expenses.
Investors should instead focus on free cash flow and ACV billings to gauge the true velocity and profitability of the platform. Relying on GAAP earnings may lead to an inaccurate assessment of the company's ability to self-fund operations, as the high level of equity-based dilution effectively shifts the cost of talent acquisition from the income statement to the shareholder's ownership stake.
Includes 30+ ratios · 13 years · Updated daily
DCF models, multiple analysis, and analyst estimates.
10-year return with dividends reinvested.
See how regular investing compounds over time.
Compare growth, multiples, and margins vs sector.
Quick answers to the most common questions about buying NTNX stock.
Nutanix, Inc.'s current P/E ratio is 82.7x. The historical average is 115.6x.
Nutanix, Inc.'s current EV/EBITDA is 62.2x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 93.0x.
Based on historical data, Nutanix, Inc. is trading at a P/E of 82.7x. Compare with industry peers and growth rates for a complete picture.
Nutanix, Inc. has 86.8% gross margin and 6.8% operating margin.
Nutanix, Inc.'s Debt/EBITDA ratio is 6.0x, indicating high leverage. A ratio above 4x may signal elevated financial risk.