Estados financieros detallados de Nutanix, Inc. (NTNX): cuenta de resultados, balance general y flujo de caja. Sigue la evolución de márgenes, deuda, liquidez y rentabilidad año a año con hasta 20 años de histórico.
Resumen del Análisis
Nutanix, Inc. registró ingresos de $2.85B en el último ejercicio fiscal, con un CAGR de 5 años del 15.4%.
Márgenes de los últimos 12 meses: margen bruto 86.8%, margen operativo 9.8%, margen neto 52.8%.
Al precio actual de $68.70, NTNX cotiza a un P/E de 12.81 y un ROE del 214.48%. La capitalización bursátil es de $18.6B, lo que la sitúa entre las empresas large-cap.
Cuenta de Resultados (10 años)
| Año | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|
| Ingresos | $845.9M | $1.16B | $1.24B | $1.31B | $1.39B | $1.58B | $1.86B | $2.15B | $2.54B | $2.85B |
| Coste de Ventas | $327.3M | $386.0M | $304.1M | $286.7M | $291.9M | $321.2M | $332.2M | $324.1M | $334.8M | $376.6M |
| Beneficio Bruto | $518.6M | $769.4M | $932.0M | $1.02B | $1.10B | $1.26B | $1.53B | $1.82B | $2.20B | $2.48B |
| I+D | $288.6M | $313.8M | $500.7M | $554.0M | $557.0M | $572.0M | $581.0M | $639.0M | $736.8M | $790.9M |
| Generales y Administrativos | $577.9M | $736.1M | $1.03B | $1.30B | $1.21B | $1.15B | $1.16B | $1.18B | $1.29B | $1.41B |
| Gastos Operativos | $866.5M | $1.05B | $1.53B | $1.85B | $1.76B | $1.72B | $1.74B | $1.82B | $2.03B | $2.20B |
| Beneficio Operativo | -$348.4M | -$280.4M | -$598.0M | -$828.9M | -$662.1M | -$458.9M | -$207.2M | $7.6M | $172.5M | $278.9M |
| EBITDA | -$310.0M | -$230.1M | -$506.1M | -$730.1M | -$842.8M | -$631.0M | -$93.1M | $141.3M | $292.7M | $400.6M |
| Gastos por Intereses | 0 | $14.7M | $29.3M | $31.3M | $79.9M | $60.7M | $64.1M | $169.4M | $19.7M | $9.0M |
| Beneficio Antes de Impuestos | -$374.8M | -$289.7M | -$613.1M | -$855.2M | -$1.02B | -$779.7M | -$233.6M | -$101.3M | $211.6M | $327.1M |
| Impuestos | $4.9M | $7.4M | $8.1M | $17.7M | $18.5M | $19.3M | $21.0M | $23.5M | $23.3M | -$1.18B |
| Beneficio Neto | -$379.6M | -$297.2M | -$621.2M | -$872.9M | -$1.03B | -$797.5M | -$254.6M | -$124.8M | $188.4M | $1.51B |
| BPA | $-3.57 | $-1.81 | $-3.43 | $-4.48 | $-5.01 | $-3.62 | $-1.09 | $-0.51 | $0.70 | $5.57 |
| BPA Diluido | $-3.57 | $-1.81 | $-3.43 | $-4.48 | $-5.01 | $-3.62 | $-1.09 | $-0.51 | $0.65 | $5.16 |
| Acciones en Circulación (Diluidas) | $128.3M | $164.1M | $181.0M | $194.7M | $206.5M | $220.5M | $233.2M | $244.7M | $294.1M | $292.7M |
Cuenta de Resultados (Trimestral)
| Año | 2025-Q4 | 2026-Q1 | 2026-Q2 | 2026-Q3 |
|---|
| Ingresos | $670.6M | $722.8M | $703.1M | $757.1M |
| Beneficio Bruto | $583.1M | $631.7M | $610.8M | $651.4M |
| Beneficio Operativo | $49.1M | $86.3M | $73.5M | $70.0M |
| EBITDA | $83.8M | $115.6M | $101.5M | $99.8M |
| Beneficio Neto | $62.1M | $103.0M | $72.1M | $1.27B |
| BPA | $0.23 | $0.38 | $0.27 | $4.69 |
| BPA Diluido | $0.21 | $0.36 | $0.25 | $4.34 |
Balance (10 años)
| Año | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|
| Caja y Equivalentes | $138.4M | $306.0M | $396.7M | $318.7M | $285.7M | $402.9M | $512.9M | $655.3M | $769.5M | $777.3M |
| Inversiones a Corto | $210.7M | $628.3M | $512.2M | $401.0M | $928.0M | $921.4M | $924.5M | $339.1M | $1.22B | $1.58B |
| Cuentas por Cobrar | $178.9M | $258.3M | $250.5M | $259.5M | $189.1M | $132.1M | $163.2M | $237.8M | $348.3M | $289.3M |
| Inventario | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Activos Corrientes | $556.3M | $1.23B | $1.23B | $1.03B | $1.45B | $1.54B | $1.74B | $1.32B | $2.44B | $2.87B |
| Inmovilizado Material | $58.1M | $85.1M | $137.0M | $270.5M | $237.5M | $232.2M | $205.4M | $245.3M | $277.3M | $299.3M |
| Fondo de Comercio | $16.7M | $87.8M | $185.2M | $185.3M | $185.3M | $185.3M | $184.9M | $185.2M | $185.2M | $185.2M |
| Activos Intangibles | $26.0M | $45.4M | $66.8M | $49.4M | $32.0M | $15.8M | $4.9M | $5.2M | $2.6M | $1.8M |
| Activos Totales | $738.2M | $1.60B | $1.79B | $1.77B | $2.28B | $2.37B | $2.53B | $2.14B | $3.28B | $5.07B |
| Cuentas por Pagar | $73.7M | $65.5M | $74.0M | $54.0M | $47.1M | $44.9M | $29.9M | $45.1M | $81.6M | $96.5M |
| Deuda a Corto | 0 | 0 | 0 | $36.6M | $44.4M | $187.9M | $33.1M | $28.1M | $23.2M | $35.7M |
| Pasivos Corrientes | $311.1M | $458.2M | $599.3M | $760.2M | $927.9M | $1.16B | $1.14B | $1.24B | $1.41B | $1.68B |
| Deuda a Largo | 0 | $429.6M | $458.9M | $490.2M | $1.06B | $1.16B | $1.22B | $570.1M | $1.34B | $1.35B |
| Pasivos Totales | $521.1M | $1.27B | $1.60B | $2.04B | $3.29B | $3.17B | $3.23B | $2.87B | $3.98B | $4.37B |
| Reservas | -$899.8M | -$1.03B | -$1.65B | -$2.52B | -$3.63B | -$4.38B | -$4.63B | -$4.85B | -$4.90B | -$3.71B |
| Patrimonio Neto | $48.2M | $326.8M | $186.9M | -$275.0M | -$1.01B | -$800.5M | -$707.4M | -$728.1M | -$694.5M | $702.6M |
| Deuda Total | 0 | $429.6M | $458.9M | $643.6M | $1.19B | $1.44B | $1.33B | $695.2M | $1.48B | $1.52B |
| Deuda Neta | -$349.1M | -$504.7M | -$449.9M | -$76.2M | -$20.5M | $117.5M | -$107.5M | -$299.1M | -$509.9M | -$842.7M |
| Capital Circulante | $245.2M | $771.2M | $629.7M | $265.1M | $523.4M | $382.1M | $605.6M | $77.1M | $1.02B | $1.19B |
Balance (Trimestral)
| Año | 2025-Q4 | 2026-Q1 | 2026-Q2 | 2026-Q3 |
|---|
| Caja y Equivalentes | $780.4M | $603.4M | $718.8M | $777.3M |
| Activos Totales | $3.32B | $3.28B | $3.42B | $5.07B |
| Pasivos Totales | $3.99B | $4.11B | $4.14B | $4.37B |
| Patrimonio Neto | -$668.6M | -$831.3M | -$725.6M | $702.6M |
| Deuda Total | $1.48B | $1.54B | $1.53B | $1.52B |
Flujo de Caja (10 años)
| Año | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|
| Beneficio Neto | -$458.0M | -$297.2M | -$621.2M | -$872.9M | -$1.03B | -$797.5M | -$254.6M | -$124.8M | $188.4M | $1.51B |
| Amortizaciones | $38.4M | $50.3M | $77.6M | $93.8M | $94.4M | $88.0M | $76.4M | $73.2M | $72.7M | $70.6M |
| Compensación en Acciones | $231.5M | $177.9M | $306.7M | $352.0M | $358.5M | $343.2M | $311.7M | $333.8M | $351.6M | $357.7M |
| Cambio en Capital Circulante | $174.8M | $150.2M | $253.3M | $202.2M | $89.8M | $64.6M | $64.5M | $204.5M | $169.4M | $144.8M |
| Flujo de Caja Operativo | $13.8M | $92.6M | $42.2M | -$159.9M | -$99.8M | $67.5M | $272.4M | $672.9M | $821.5M | $916.7M |
| Inversiones (CapEx) | -$50.2M | -$62.4M | -$118.5M | -$89.5M | -$58.6M | -$49.1M | -$65.4M | -$75.3M | -$71.3M | -$76.0M |
| Adquisiciones | -$184000 | -$22.2M | -$19.0M | -$114.0M | $538.5M | $5.1M | $5.9M | -$4.5M | 0 | 0 |
| Recompra de Acciones | 0 | 0 | 0 | 0 | -$125.1M | -$58.6M | 0 | -$131.1M | -$307.9M | -$483.5M |
| Dividendos Pagados | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Flujo de Caja Libre | -$36.4M | $30.2M | -$76.3M | -$249.4M | -$158.5M | $18.5M | $207.0M | $597.7M | $750.2M | $840.7M |
Flujo de Caja (Trimestral)
| Año | 2025-Q4 | 2026-Q1 | 2026-Q2 | 2026-Q3 |
|---|
| Flujo de Caja Operativo | $196.8M | $197.3M | $207.5M | $315.0M |
| Inversiones (CapEx) | -$22.3M | -$5.9M | -$10.3M | -$37.4M |
| Flujo de Caja Libre | $174.5M | $191.4M | $197.2M | $277.6M |
| Dividendos Pagados | 0 | 0 | 0 | 0 |
| Compensación en Acciones | $77.8M | $102.6M | $82.8M | $94.5M |
Crecimiento y Márgenes (10 años)
| Año | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|
| Crecimiento Ingresos (anual) | | +36.6% | +7.0% | +5.8% | +6.6% | +13.4% | +17.8% | +15.3% | +18.1% | +12.4% |
| Crecimiento Beneficio Neto (anual) | | +21.7% | -109.0% | -40.5% | -18.5% | +22.9% | +68.1% | +51.0% | +251.0% | +700.0% |
| Crecimiento BPA (anual) | | +49.3% | -89.5% | -30.6% | -11.8% | +27.7% | +69.9% | +53.2% | +237.3% | +695.7% |
| Cambio en Acciones (anual) | | +27.9% | +10.3% | +7.6% | +6.0% | +6.8% | +5.8% | +4.9% | +20.2% | -0.5% |
| Crecimiento FCF (anual) | | +183.0% | -352.7% | -226.9% | +36.5% | +111.7% | +1019.8% | +188.7% | +25.5% | +12.1% |
| Margen Bruto | 61.3% | 66.6% | 75.4% | 78.1% | 79.1% | 79.7% | 82.2% | 84.9% | 86.8% | 86.8% |
| Margen Operativo | -41.2% | -24.3% | -48.4% | -63.4% | -47.5% | -29.0% | -11.1% | 0.4% | 6.8% | 9.8% |
| Margen EBITDA | -36.6% | -19.9% | -40.9% | -55.8% | -60.4% | -39.9% | -5.0% | 6.6% | 11.5% | 14.0% |
| Margen Neto | -44.9% | -25.7% | -50.3% | -66.8% | -74.2% | -50.5% | -13.7% | -5.8% | 7.4% | 52.8% |
| Margen FCF | -4.3% | 2.6% | -6.2% | -19.1% | -11.4% | 1.2% | 11.1% | 27.8% | 29.6% | 29.5% |
| Tasa Impositiva Efectiva | -1.3% | -2.6% | -1.3% | -2.1% | -1.8% | -2.5% | -9.0% | -23.2% | 11.0% | -360.7% |
Datos por Acción (10 años)
| Año | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|
| FCF por Acción | $-0.28 | $0.18 | $-0.42 | $-1.28 | $-0.77 | $0.08 | $0.89 | $2.44 | $2.55 | $2.87 |
| Dividendo por Acción | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| Acciones en Circulación (Básicas) | $128.3M | $164.1M | $181.0M | $194.7M | $206.5M | $220.5M | $233.2M | $244.7M | $267.5M | $270.6M |
Qué mirar en empresas de Technology
- Crecimiento de ingresos 3a (≥15%/año) — Valida tracción sostenida, no un año puntual.
- Margen bruto (Depende del sub-sector) — SaaS ≥70%, Internet ≥55%, Semis ≥45%, Hardware ≥35%.
- FCF / Ingresos (≥20%) — Caja real generada. Muchas tech maquillan beneficios non-GAAP.
- ROIC (≥15%) — Eficiencia del capital reinvertido — la primera métrica de Buffett.
- SBC / Ingresos (<10% saludable) — Stock-based compensation. Dilución silenciosa: >20% destruye valor.
- Deuda Neta / EBITDA (≤2x (1,5x SaaS)) — Resistencia en recesiones y subidas de tipos.
Rentabilidad
| Rentabilidad sobre capital | 214.48% |
| Rentabilidad sobre capital invertido | 8.14% |
| Rentabilidad sobre activos | 29.70% |
| Margen bruto | 86.80% |
| Margen operativo | 9.77% |
| Margen neto | 52.81% |
Salud financiera
| Deuda / Patrimonio | 2.16 |
| Ratio corriente | 1.80 |
| Piotroski F-Score | 4 |
| Altman Z-Score | 2.19 |
Ratios Clave (10 años)
| Año | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|
| P/E | -5.95 | -27.01 | -6.62 | -4.95 | -7.19 | -4.20 | -27.71 | -99.04 | 107.39 | 10.59 |
| P/VC | 56.55 | 24.55 | 21.99 | -15.71 | -7.35 | -4.19 | -9.96 | -16.98 | -28.95 | 22.73 |
| P/V | 3.22 | 6.94 | 3.32 | 3.30 | 5.33 | 2.12 | 3.78 | 5.75 | 7.92 | 5.60 |
| Margen Bruto | 61.3% | 66.6% | 75.4% | 78.1% | 79.1% | 79.7% | 82.2% | 84.9% | 86.8% | 86.8% |
| Margen Operativo | -41.2% | -24.3% | -48.4% | -63.4% | -47.5% | -29.0% | -11.1% | 0.4% | 6.8% | 9.8% |
| Margen Neto | -44.9% | -25.7% | -50.3% | -66.8% | -74.2% | -50.5% | -13.7% | -5.8% | 7.4% | 52.8% |