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NetApp, Inc.(NTAP)Earnings, Financials & Key Ratios
NTAP•NASDAQ
$114.14
$22.6B mkt cap·20.1× P/E·Price updated May 6, 2026
AboutNetApp, Inc. provides cloud-led and data-centric services to manage and share data on-premises, and private and public clouds worldwide. It operates in two segments, Hybrid Cloud and Public Could. The company offers intelligent data management software, such as NetApp ONTAP, NetApp Snapshot, NetApp SnapCenter Backup Management, NetApp SnapMirror Data Replication, NetApp SnapLock Data Compliance, NetApp ElementOS software, and NetApp SANtricity software; and storage infrastructure solutions, including NetApp All-Flash FAS series, NetApp Fabric Attached Storage, NetApp FlexPod, NetApp E/EF series, NetApp StorageGRID, and NetApp SolidFire. It also provides cloud storage and data services comprising NetApp Cloud Volumes ONTAP, Azure NetApp Files, Amazon FSx for NetApp ONTAP, NetApp Cloud Volumes Service for Google Cloud, NetApp Cloud Sync, NetApp Cloud Tiering, NetApp Cloud Backup, NetApp Cloud Data Sense, and NetApp Cloud Volumes Edge Cache; and cloud operations services, such as NetApp Cloud Insights, Spot Ocean Kubernetes Suite, Spot Security, Spot Eco, and Spot CloudCheckr. In addition, the company offers application-aware data management service under the NetApp Astra name; and professional and support services, such as strategic consulting, professional, managed, and support services. Further, it provides assessment, design, implementation, and migration services. The company serves the energy, financial service, government, technology, internet, life science, healthcare service, manufacturing, media, entertainment, animation, video postproduction, and telecommunication markets through a direct sales force and an ecosystem of partners. NetApp, Inc. was incorporated in 1992 and is headquartered in San Jose, California.Show more
- Revenue$6.57B+4.9%
- EBITDA$1.58B+7.6%
- Net Income$1.19B+20.3%
- EPS (Diluted)5.67+22.5%
- Gross Margin70.19%-0.8%
- EBITDA Margin24.04%+2.6%
- Operating Margin20.34%+5.0%
- Net Margin18.05%+14.7%
- ROE108.51%+26.8%
- ROIC54.44%+2.3%
- Debt/Equity3.36+45.1%
- Interest Coverage20.89+10.1%
NTAP Key Insights
NetApp, Inc. (NTAP) fundamental analysis — strengths, weaknesses & financial health based on data analysis
✓Strengths
- ✓Excellent 3Y average ROE of 107.2%
- ✓FCF machine: 20.4% free cash flow margin
- ✓High quality earnings: Operating CF exceeds net income
- ✓Healthy 5Y average net margin of 16.3%
✗Weaknesses
- ✗High debt to equity ratio of 3.4x
- ✗Expensive at 22.9x book value
* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.
NTAP Price & Volume
NetApp, Inc. (NTAP) stock price & volume — 10-year historical chart
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NTAP Growth Metrics
NetApp, Inc. (NTAP) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Revenue CAGR
10 Years0.71%
5 Years3.96%
3 Years1.32%
TTM3.1%
Profit CAGR
10 Years7.79%
5 Years7.69%
3 Years8.17%
TTM6.6%
EPS CAGR
10 Years12.47%
5 Years10%
3 Years11.5%
TTM10.74%
Return on Capital
10 Years17.84%
5 Years19.82%
3 Years19.6%
Last Year22.39%
NTAP Recent Earnings
NetApp, Inc. (NTAP) EPS & revenue vs analyst estimates — last 4 quarters
●Beat EPS 11/12 qtrs (92%)●Beat Revenue 10/12 qtrs (83%)
Q1 2026Latest
Feb 26, 2026EPS
$2.12
Est $2.06
+2.9%
Revenue
$1.7B
Est $1.7B
+1.0%
Q4 2025
Nov 25, 2025EPS
$2.05
Est $1.88
+9.0%
Revenue
$1.7B
Est $1.7B
+1.0%
Q3 2025
Aug 27, 2025EPS
$1.55
Est $1.54
+0.6%
Revenue
$1.6B
Est $1.5B
+0.7%
Q2 2025
May 29, 2025EPS
$1.93
Est $1.90
+1.6%
Revenue
$1.7B
Est $1.7B
+0.5%
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q1 2026Latest | Feb 26, 2026 | $2.12vs $2.06+2.9% | $1.7Bvs $1.7B+1.0% |
| Q4 2025 | Nov 25, 2025 | $2.05vs $1.88+9.0% | $1.7Bvs $1.7B+1.0% |
| Q3 2025 | Aug 27, 2025 | $1.55vs $1.54+0.6% | $1.6Bvs $1.5B+0.7% |
| Q2 2025 | May 29, 2025 | $1.93vs $1.90+1.6% | $1.7Bvs $1.7B+0.5% |
Based on last 12 quarters of dataView full earnings history →
NTAP Peer Comparison
NetApp, Inc. (NTAP) competitors in Data Center Compute and Storage — business model, growth, and fundamentals comparison
| Company | Market Cap | Stock Price | P/E Ratio (TTM) | Revenue Growth 1Y | Net Margin | Return on Equity (ROE) | FCF Yield | Debt / Equity |
|---|---|---|---|---|---|---|---|---|
 PSTG | 21.99B | 66.97 | 142.49 | 15.61% | 5.14% | 13.02% | 2.8% | 0.15 |
 HPE | 39.92B | 30.04 | -673.54 | 14.06% | -0.44% | -0.64% | 1.57% | 0.90 |
 DELL | 72.26B | 216.39 | 18.8% | 5.23% | ||||
 IBM | 214.84B | 229.03 | 20.50 | 7.62% | 15.61% | 35.44% | 5.39% | 2.05 |
 STX | 168.14B | 771.01 | 113.89 | 38.86% | 21.6% | 9.16% | 0.49% | |
 WDC | 157.74B | 465.26 | 90.87 | 50.7% | 55.07% | 91.94% | 0.81% | 0.96 |
 SCSC | 914.95M | 42.27 | 14.09 | -6.72% | 2.44% | 8.11% | 11.37% | 0.16 |
 NCNO | 2.13B | 17.96 | -54.42 | 13.45% | -3.71% | -2.07% | 2.51% | 0.22 |
Compare NTAP vs Peers
NetApp, Inc. (NTAP) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
NTAP Income Statement
NetApp, Inc. (NTAP) annual income statement — 10-year revenue, gross profit & net income history
10Y historyFree accessUpdated daily
| Line item | Apr'17 | Apr'18 | Apr'19 | Apr'20 | Apr'21 | Apr'22 | Apr'23 | Apr'24 | Apr'25 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales/Revenue | 5.52B | 5.91B | 6.15B | 5.41B | 5.74B | 6.32B | 6.36B | 6.27B | 6.57B | 6.71B |
| Revenue Growth % | -0.49% | 7.1% | 3.98% | -11.94% | 6.13% | 9.99% | 0.7% | -1.48% | 4.85% | 3.1% |
| Cost of Goods Sold | 2.13B | 2.21B | 2.2B | 1.79B | 1.93B | 2.1B | 2.15B | 1.83B | 1.96B | 1.98B |
| COGS % of Revenue | 38.58% | 37.42% | 35.81% | 33.06% | 33.58% | 33.21% | 33.84% | 29.28% | 29.81% | - |
| Gross Profit | 3.39B▲ 0% | 3.7B▲ 9.1% | 3.94B▲ 6.7% | 3.62B▼ 8.2% | 3.81B▲ 5.3% | 4.22B▲ 10.6% | 4.21B▼ 0.3% | 4.43B▲ 5.3% | 4.61B▲ 4.1% | 4.73B▲ 0% |
| Gross Margin % | 61.42% | 62.58% | 64.19% | 66.94% | 66.42% | 66.79% | 66.16% | 70.72% | 70.19% | 70.46% |
| Gross Profit Growth % | 0.5% | 9.12% | 6.65% | -8.16% | 5.3% | 10.62% | -0.26% | 5.32% | 4.06% | - |
| Operating Expenses | 2.68B | 2.79B | 2.72B | 2.68B | 2.78B | 3.06B | 3.19B | 3.22B | 3.28B | 3.24B |
| OpEx % of Revenue | 48.61% | 47.23% | 44.32% | 49.48% | 48.47% | 48.48% | 50.16% | 51.36% | 49.85% | - |
| Selling, General & Admin | 1.9B | 2.01B | 1.94B | 1.85B | 2B | 2.14B | 2.09B | 2.14B | 2.18B | 2.18B |
| SG&A % of Revenue | 34.5% | 33.99% | 31.48% | 34.15% | 34.84% | 33.81% | 32.91% | 34.08% | 33.11% | - |
| Research & Development | 779M | 783M | 827M | 847M | 881M | 881M | 956M | 1.03B | 1.01B | 986M |
| R&D % of Revenue | 14.11% | 13.25% | 13.46% | 15.65% | 15.34% | 13.94% | 15.03% | 16.42% | 15.4% | - |
| Other Operating Expenses | 8M | 0 | -38M | -17M | -98M | 46M | 141M | 54M | 88M | 3M |
| Operating Income | 665M▲ 0% | 1.13B▲ 69.2% | 1.22B▲ 8.5% | 945M▼ 22.6% | 1.03B▲ 9.1% | 1.16B▲ 12.2% | 1.02B▼ 12.0% | 1.21B▲ 19.3% | 1.34B▲ 10.1% | 1.49B▲ 0% |
| Operating Margin % | 12.05% | 19.03% | 19.87% | 17.46% | 17.95% | 18.31% | 16% | 19.37% | 20.34% | 22.21% |
| Operating Income Growth % | 91.09% | 69.17% | 8.53% | -22.6% | 9.1% | 12.22% | -12.01% | 19.25% | 10.13% | - |
| EBITDA | 891M | 1.32B | 1.42B | 1.19B | 1.29B | 1.35B | 1.32B | 1.47B | 1.58B | 1.65B |
| EBITDA Margin % | 16.14% | 22.38% | 23.07% | 21.97% | 22.46% | 21.38% | 20.73% | 23.44% | 24.04% | 24.53% |
| EBITDA Growth % | 44.64% | 48.48% | 7.18% | -16.15% | 8.49% | 4.73% | -2.37% | 11.37% | 7.56% | 2.3% |
| D&A (Non-Cash Add-back) | 226M | 198M | 197M | 244M | 259M | 194M | 301M | 255M | 243M | 156M |
| EBIT | 673M | 1.26B | 1.33B | 999M | 1.04B | 1.17B | 1.13B | 1.33B | 1.45B | 1.13B |
| Net Interest Income | -8M | 17M | 30M | -7M | -65M | -66M | 2M | 48M | 48M | 16M |
| Interest Income | 44M | 79M | 88M | 48M | 9M | 7M | 69M | 112M | 112M | 92M |
| Interest Expense | 52M | 62M | 58M | 55M | 74M | 73M | 67M | 64M | 64M | 76M |
| Other Income/Expense | 0 | 41M | 47M | -1M | -69M | -62M | 48M | 49M | 46M | -6M |
| Pretax Income | 665M▲ 0% | 1.17B▲ 75.3% | 1.27B▲ 8.7% | 944M▼ 25.6% | 962M▲ 1.9% | 1.09B▲ 13.8% | 1.07B▼ 2.6% | 1.26B▲ 18.5% | 1.38B▲ 9.5% | 1.48B▲ 0% |
| Pretax Margin % | 12.05% | 19.73% | 20.63% | 17.44% | 16.75% | 17.33% | 16.76% | 20.15% | 21.04% | 22.12% |
| Income Tax | 156M | 1.09B | 99M | 125M | 232M | 158M | -208M | 277M | 197M | 272M |
| Effective Tax Rate % | 23.46% | 93.48% | 7.81% | 13.24% | 24.12% | 14.43% | -19.51% | 21.93% | 14.24% | 18.33% |
| Net Income | 509M▲ 0% | 76M▼ 85.1% | 1.17B▲ 1438.2% | 819M▼ 29.9% | 730M▼ 10.9% | 937M▲ 28.4% | 1.27B▲ 36.0% | 986M▼ 22.6% | 1.19B▲ 20.3% | 1.21B▲ 0% |
| Net Margin % | 9.22% | 1.29% | 19.02% | 15.13% | 12.71% | 14.83% | 20.03% | 15.73% | 18.05% | 18.07% |
| Net Income Growth % | 122.27% | -85.07% | 1438.16% | -29.94% | -10.87% | 28.36% | 35.97% | -22.61% | 20.28% | 6.6% |
| Net Income (Continuing) | 509M | 116M | 1.17B | 819M | 730M | 937M | 1.27B | 986M | 1.19B | 1.21B |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | 1.81▲ 0% | 0.28▼ 84.5% | 4.51▲ 1510.7% | 3.52▼ 22.0% | 3.23▼ 8.2% | 4.09▲ 26.6% | 5.79▲ 41.6% | 4.63▼ 20.0% | 5.67▲ 22.5% | 6.06▲ 0% |
| EPS Growth % | 135.06% | -84.53% | 1510.71% | -21.95% | -8.24% | 26.63% | 41.56% | -20.03% | 22.46% | 10.74% |
| EPS (Basic) | 1.85 | 0.28 | 4.60 | 3.56 | 3.29 | 4.20 | 5.87 | 4.74 | 5.81 | - |
| Diluted Shares Outstanding | 281M | 276M | 259M | 233M | 226M | 229M | 220M | 213M | 209M | 200M |
| Basic Shares Outstanding | 275M | 268M | 254M | 230M | 222M | 223M | 217M | 208M | 204M | 198M |
| Dividend Payout Ratio | 40.86% | 281.58% | 34.47% | 53.6% | 58.49% | 47.6% | 33.91% | 42.19% | 35.75% | - |
NTAP Balance Sheet
NetApp, Inc. (NTAP) balance sheet — assets, liabilities & shareholders' equity
| Line item | Apr'17 | Apr'18 | Apr'19 | Apr'20 | Apr'21 | Apr'22 | Apr'23 | Apr'24 | Apr'25 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Total Current Assets | 6.2B | 6.86B | 5.61B | 4.27B | 6B | 5.95B | 4.68B | 4.9B | 5.85B | 5B |
| Cash & Short-Term Investments | 4.92B | 5.39B | 3.9B | 2.88B | 4.6B | 4.13B | 3.07B | 3.25B | 3.85B | 3.01B |
| Cash Only | 2.44B | 2.94B | 2.33B | 2.66B | 4.53B | 4.11B | 2.32B | 1.9B | 2.74B | 1.63B |
| Short-Term Investments | 2.48B | 2.45B | 1.57B | 224M | 67M | 22M | 754M | 1.35B | 1.1B | 1.38B |
| Accounts Receivable | 731M | 1.05B | 1.22B | 973M | 945M | 1.23B | 987M | 1.01B | 1.25B | 1.31B |
| Days Sales Outstanding | 48.34 | 64.65 | 72.22 | 65.62 | 60.05 | 71.06 | 56.63 | 58.64 | 69.2 | 58.96 |
| Inventory | 163M | 126M | 131M | 145M | 114M | 204M | 167M | 186M | 186M | 109M |
| Days Inventory Outstanding | 27.95 | 20.79 | 21.72 | 29.58 | 21.57 | 35.49 | 28.31 | 37 | 34.66 | 25.55 |
| Other Current Assets | 383M | 392M | 364M | 274M | 346M | 377M | 456M | 452M | 573M | 565M |
| Total Non-Current Assets | 3.29B | 3.04B | 3.13B | 3.25B | 3.36B | 4.08B | 5.14B | 4.99B | 4.97B | 4.97B |
| Property, Plant & Equipment | 799M | 756M | 759M | 864M | 639M | 896M | 931M | 851M | 804M | 576M |
| Fixed Asset Turnover | 6.91x | 7.82x | 8.10x | 6.26x | 8.99x | 7.05x | 6.83x | 7.37x | 8.17x | 8.95x |
| Goodwill | 1.68B | 1.74B | 1.74B | 1.78B | 2.04B | 2.35B | 2.76B | 2.76B | 2.72B | 2.76B |
| Intangible Assets | 131M | 94M | 47M | 44M | 101M | 142M | 181M | 124M | 43M | 26M |
| Long-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 85M | 92M | 279M |
| Other Non-Current Assets | 156M | 221M | 389M | 342M | 361M | 335M | 319M | 275M | 316M | 2.6B |
| Total Assets | 9.49B▲ 0% | 9.87B▲ 3.9% | 8.74B▼ 11.4% | 7.52B▼ 13.9% | 9.36B▲ 24.4% | 10.03B▲ 7.1% | 9.82B▼ 2.1% | 9.89B▲ 0.7% | 10.82B▲ 9.5% | 9.97B▲ 0% |
| Asset Turnover | 0.58x | 0.60x | 0.70x | 0.72x | 0.61x | 0.63x | 0.65x | 0.63x | 0.61x | 0.67x |
| Asset Growth % | -5.42% | 3.92% | -11.39% | -13.95% | 24.44% | 7.12% | -2.07% | 0.7% | 9.47% | 31.3% |
| Total Current Liabilities | 4.04B | 3.62B | 3.87B | 3.62B | 3.45B | 3.95B | 3.47B | 4.11B | 4.66B | 3.59B |
| Accounts Payable | 347M | 609M | 542M | 426M | 420M | 607M | 392M | 517M | 511M | 413M |
| Days Payables Outstanding | 59.49 | 100.49 | 89.88 | 86.91 | 79.47 | 105.6 | 66.46 | 102.84 | 95.21 | 81.21 |
| Short-Term Debt | 1.25B | 385M | 649M | 522M | 0 | 250M | 0 | 400M | 750M | 0 |
| Deferred Revenue (Current) | 1.66B | 1.8B | 1.82B | 1.89B | 2.06B | 2.17B | 2.22B | 2.18B | 2.28B | 8.97B |
| Other Current Liabilities | 619M | 800M | 826M | 697M | 900M | 878M | 810M | 973M | 1.08B | 1.32B |
| Current Ratio | 1.53x | 1.89x | 1.45x | 1.18x | 1.74x | 1.50x | 1.35x | 1.19x | 1.26x | 1.26x |
| Quick Ratio | 1.49x | 1.86x | 1.42x | 1.14x | 1.71x | 1.45x | 1.30x | 1.15x | 1.22x | 1.22x |
| Cash Conversion Cycle | 16.8 | -15.05 | 4.06 | 8.29 | 2.15 | 0.95 | 18.48 | -7.2 | 8.65 | 3.3 |
| Total Non-Current Liabilities | 2.67B | 4.17B | 3.78B | 3.66B | 5.22B | 5.24B | 5.19B | 4.63B | 5.12B | 5.22B |
| Long-Term Debt | 744M | 1.54B | 1.14B | 1.15B | 2.63B | 2.39B | 2.39B | 1.99B | 2.48B | 2.49B |
| Capital Lease Obligations | 0 | 0 | 0 | 93M | 71M | 257M | 248M | 220M | 216M | 646M |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 127M | 131M | 144M | 153M | 45M | 142M |
| Other Non-Current Liabilities | 249M | 992M | 797M | 621M | 452M | 400M | 316M | 212M | 118M | 3.1B |
| Total Liabilities | 6.71B | 7.8B | 7.65B | 7.28B | 8.68B | 9.19B | 8.66B | 8.74B | 9.78B | 8.81B |
| Total Debt | 2.12B | 1.93B | 1.79B | 1.81B | 2.75B | 2.94B | 2.68B | 2.65B | 3.49B | 2.49B |
| Net Debt | -321M | -1.01B | -532M | -846M | -1.78B | -1.17B | 368M | 749M | 749M | 857M |
| Debt / Equity | 0.76x | 0.93x | 1.64x | 7.49x | 4.02x | 3.51x | 2.32x | 2.31x | 3.36x | 3.36x |
| Debt / EBITDA | 2.38x | 1.46x | 1.26x | 1.52x | 2.13x | 2.18x | 2.03x | 1.81x | 2.21x | 1.51x |
| Net Debt / EBITDA | -0.36x | -0.77x | -0.38x | -0.71x | -1.38x | -0.87x | 0.28x | 0.51x | 0.47x | 0.47x |
| Interest Coverage | 12.79x | 18.15x | 21.05x | 17.18x | 13.93x | 15.85x | 15.19x | 18.97x | 20.89x | 14.83x |
| Total Equity | 2.78B▲ 0% | 2.07B▼ 25.6% | 1.09B▼ 47.3% | 242M▼ 77.8% | 685M▲ 183.1% | 838M▲ 22.3% | 1.16B▲ 38.3% | 1.15B▼ 1.1% | 1.04B▼ 9.2% | 1.16B▲ 0% |
| Equity Growth % | -3.51% | -25.65% | -47.27% | -77.8% | 183.06% | 22.34% | 38.31% | -1.12% | -9.25% | 22.62% |
| Book Value per Share | 9.89 | 7.49 | 4.21 | 1.04 | 3.03 | 3.66 | 5.27 | 5.38 | 4.98 | 5.79 |
| Total Shareholders' Equity | 2.78B | 2.07B | 1.09B | 242M | 685M | 838M | 1.16B | 1.15B | 1.04B | 1.16B |
| Common Stock | 2.77B | 2.35B | 1.13B | 284M | 504M | 760M | 945M | 997M | 1.11B | 1.15B |
| Retained Earnings | 40M | -218M | 0 | 0 | 211M | 122M | 265M | 208M | 0 | 40M |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | -29M | -70M | -43M | -42M | -30M | -44M | -51M | -59M | -66M | -29M |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
NTAP Cash Flow Statement
NetApp, Inc. (NTAP) cash flow — operating, investing & free cash flow history
| Line item | Apr'17 | Apr'18 | Apr'19 | Apr'20 | Apr'21 | Apr'22 | Apr'23 | Apr'24 | Apr'25 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operations | 986M | 1.48B | 1.34B | 1.06B | 1.33B | 1.21B | 1.11B | 1.69B | 1.51B | 1.51B |
| Operating CF Margin % | 17.87% | 25% | 21.82% | 19.59% | 23.21% | 19.17% | 17.4% | 26.88% | 22.92% | - |
| Operating CF Growth % | 1.23% | 49.9% | -9.27% | -20.95% | 25.75% | -9.15% | -8.59% | 52.21% | -10.62% | 28.43% |
| Net Income | 509M | 76M | 1.17B | 819M | 730M | 937M | 1.27B | 986M | 1.19B | 1.21B |
| Depreciation & Amortization | 226M | 198M | 197M | 193M | 207M | 194M | 248M | 255M | 243M | 156M |
| Stock-Based Compensation | 195M | 161M | 158M | 153M | 197M | 245M | 312M | 357M | 386M | 377M |
| Deferred Taxes | 90M | 277M | -3M | -17M | -6M | -144M | -606M | 53M | -100M | 29M |
| Other Non-Cash Items | -16M | -245M | -71M | 14M | -80M | 1M | -15M | 32M | 41M | -300M |
| Working Capital Changes | -18M | 1.01B | -109M | -102M | 285M | -22M | -106M | 2M | -250M | 1M |
| Change in Receivables | 81M | -272M | -185M | 238M | 62M | -313M | 260M | -33M | -219M | -62M |
| Change in Inventory | -65M | 37M | -9M | -14M | 31M | -90M | 37M | -18M | -1M | 141M |
| Change in Payables | 94M | 262M | -57M | -117M | -11M | 181M | -207M | 123M | -8M | -4M |
| Cash from Investing | -220M | -21M | 704M | 1.27B | 21M | -561M | -1.39B | -735M | 147M | -245M |
| Capital Expenditures | -175M | -145M | -173M | -124M | -162M | -226M | -239M | -155M | -168M | -137M |
| CapEx % of Revenue | 3.17% | 2.45% | 2.81% | 2.29% | 2.82% | 3.58% | 3.76% | 2.47% | 2.56% | - |
| Acquisitions | -8M | -75M | -3M | -73M | -350M | -380M | -491M | 0 | 0 | 0 |
| Investments | - | - | - | - | - | - | - | - | - | - |
| Other Investing | 6M | 209M | 4M | 96M | 378M | 18M | 59M | 0 | 70M | 1.72B |
| Cash from Financing | -1.18B | -986M | -2.63B | -1.96B | 444M | -1.02B | -1.51B | -1.34B | -828M | -689M |
| Debt Issued (Net) | -351M | -70M | -136M | -127M | 948M | 0 | -250M | 0 | 840M | 490M |
| Equity Issued (Net) | -1000K | -1000K | -1000K | -1000K | -1000K | -1000K | -1000K | -1000K | -1000K | -3M |
| Dividends Paid | -208M | -214M | -403M | -439M | -427M | -446M | -432M | -416M | -424M | -415M |
| Share Repurchases | -705M | -794M | -2.11B | -1.41B | -125M | -600M | -850M | -900M | -1.15B | -1B |
| Other Financing | -7M | -81M | -102M | -85M | 90M | 29M | -89M | -28M | -202M | 36M |
| Net Change in Cash | -424M▲ 0% | 497M▲ 217.2% | -616M▼ 223.9% | 335M▲ 154.4% | 1.87B▲ 457.9% | -416M▼ 122.3% | -1.8B▼ 332.0% | -413M▲ 77.0% | 840M▲ 303.4% | 561M▲ 0% |
| Free Cash Flow | 811M▲ 0% | 1.33B▲ 64.4% | 1.17B▼ 12.4% | 936M▼ 19.9% | 1.17B▲ 25.1% | 985M▼ 15.9% | 868M▼ 11.9% | 1.53B▲ 76.3% | 1.34B▼ 12.5% | 1.34B▲ 0% |
| FCF Margin % | 14.69% | 22.55% | 19% | 17.29% | 20.39% | 15.59% | 13.64% | 24.41% | 20.36% | 19.94% |
| FCF Growth % | -0.37% | 64.37% | -12.38% | -19.86% | 25.11% | -15.88% | -11.88% | 76.27% | -12.55% | 5.77% |
| FCF per Share | 2.89 | 4.83 | 4.51 | 4.02 | 5.18 | 4.30 | 3.95 | 7.18 | 6.40 | 6.40 |
| FCF Conversion (FCF/Net Income) | 1.94x | 19.45x | 1.15x | 1.29x | 1.83x | 1.29x | 0.87x | 1.71x | 1.27x | 1.10x |
| Interest Paid | 44M | 0 | 0 | 50M | 57M | 67M | 65M | 59M | 53M | 58M |
| Taxes Paid | 102M | 0 | 0 | 276M | 338M | 398M | 386M | 357M | 412M | 410M |
NTAP Key Ratios
NetApp, Inc. (NTAP) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios
| Metric | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Return on Equity (ROE) | 17.98% | 3.14% | 74.06% | 122.97% | 157.5% | 123.05% | 127.59% | 85.55% | 108.51% | 104.66% |
| Return on Invested Capital (ROIC) | 20.65% | 48.06% | 113.76% | - | - | - | 128% | 53.21% | 54.44% | 54.44% |
| Gross Margin | 61.42% | 62.58% | 64.19% | 66.94% | 66.42% | 66.79% | 66.16% | 70.72% | 70.19% | 70.46% |
| Net Margin | 9.22% | 1.29% | 19.02% | 15.13% | 12.71% | 14.83% | 20.03% | 15.73% | 18.05% | 18.07% |
| Debt / Equity | 0.76x | 0.93x | 1.64x | 7.49x | 4.02x | 3.51x | 2.32x | 2.31x | 3.36x | 3.36x |
| Interest Coverage | 12.79x | 18.15x | 21.05x | 17.18x | 13.93x | 15.85x | 15.19x | 18.97x | 20.89x | 14.83x |
| FCF Conversion | 1.94x | 19.45x | 1.15x | 1.29x | 1.83x | 1.29x | 0.87x | 1.71x | 1.27x | 1.10x |
| Revenue Growth | -0.49% | 7.1% | 3.98% | -11.94% | 6.13% | 9.99% | 0.7% | -1.48% | 4.85% | 3.1% |
NTAP SEC Filings & Documents
NetApp, Inc. (NTAP) SEC filings — annual & quarterly reports (10-K, 10-Q)
NTAP Frequently Asked Questions
NetApp, Inc. (NTAP) stock FAQ — growth, dividends, profitability & financials explained
Growth & Financials
NetApp, Inc. (NTAP) reported $6.71B in revenue for fiscal year 2025. This represents a 14287% increase from $46.6M in 1996.
NetApp, Inc. (NTAP) grew revenue by 4.9% over the past year. Growth has been modest.
Yes, NetApp, Inc. (NTAP) is profitable, generating $1.21B in net income for fiscal year 2025 (18.0% net margin).
Dividend & Returns
Yes, NetApp, Inc. (NTAP) pays a dividend with a yield of 1.78%. This makes it attractive for income-focused investors.
NetApp, Inc. (NTAP) has a return on equity (ROE) of 108.5%. This is excellent, indicating efficient use of shareholder capital.
NetApp, Inc. (NTAP) generated $1.34B in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.
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NetApp, Inc. (NTAP) financial analysis — history, returns, DCA and operating performance tools
Full NTAP Stock Analysis
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Financial Ratios
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Valuation
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