Nutanix, Inc.

NTNXInfrastructure

Nutanix is an enterprise cloud computing company that provides a hybrid multicloud platform.

Key figures

Data as of Jul 2026 · Pills compare vs Apr 2026

ARR Multiple

6.5x

+1.2x

ARR

$3.0B

+7.7%

YoY Growth

15.9%

+5.9pp

Market Cap

$19.7B

+23.5%

Revenue (Q)

$757M

+7.7%

Gross Margin

86.0%

-0.8pp

Op. Margin

9.2%

-0.8pp

Rule of 40

25.1

+163.3

Magic Number

0.76

+1.04

Revenue, margins & ratios from SEC filings; market cap & ARR multiple from market data. Market cap & ARR multiple use the close of 13 Oct 2026; their pills compare vs the Jul 2026 quarter-end (5.3x).

Valuation by quarter

Current ARR Multiple: 5.3x· Forward at Q1 FY2027 guidance: 5.3x

Calculated valuation

FRAMEWORK EST.

Valuation data is not available for this company.

Strategy recommendations

Levers ranked by valuation impact

No recommendations for this company.

AI Replacement RiskLOW

7/ 100

LowModerateElevatedHigh

Estimated likelihood that general-purpose AI replaces this product.

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Why this rating

From the AI Risk Calculator model

Structural moats (regulation, integration depth, or proprietary data) make AI-only replacement unlikely in the near term.

What's driving the score

InfrastructureCategory baseline

low base

Workflow complexity5/5

-12 risk

Data moat2/5

+5.5 risk

Integration depthHigh

-10 risk

SegmentEnterprise

-8 risk

IndustryOther

neutral

Own AI integration2/5

+1.6 risk

Ways to reduce exposure

Without unique data that improves the product over time, the logic alone is easy to replicate. Capture proprietary signals, feedback loops, or workflows that competitors cannot synthesize.

Company overview

Nutanix is an enterprise cloud computing company that provides a hybrid multicloud platform. Organizations use it to run applications and manage data across private clouds, public clouds, and edge locations. Dheeraj Pandey, Mohit Aron, and Ajeet Singh founded it in 2009 in San Jose, California. Nutanix pioneered hyperconverged infrastructure, which collapses compute, storage, networking, and virtualization into one software-defined solution. That eliminates the need for traditional SAN storage arrays.

The Nutanix Cloud Platform includes AOS (the storage fabric), AHV (a free built-in hypervisor), Prism (management interface), and cloud services for database-as-a-service, disaster recovery, security hardening, and cost governance. Nutanix Cloud Clusters extend the platform to run natively on AWS, Azure, and Google Cloud bare metal, enabling true hybrid cloud portability and unified management.

The company completed a strategic shift from hardware-bundled appliances to a pure software subscription model. Virtually all revenue now comes from term-based software subscriptions or SaaS. That transition improved gross margins and revenue predictability. Annual recurring revenue exceeds $2 billion. Software gross margins top 85%.

Over 32,000 customers use the platform globally, with a strong presence among Global 2000 enterprises across healthcare, financial services, government, retail, and manufacturing. Annual revenue is roughly $2.9 billion. About 7,000 employees work at the company. VMware (Broadcom), Microsoft (Azure Stack HCI), and HPE are the main competitors in enterprise cloud infrastructure.