NetApp, Inc. (NTAP) P/E Ratio History
Premium ValuationTrading at 25.1x vs 5Y avg 18.3x · 100th percentile · Premium to historical baseline · Data 1997–2026
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P/E Ratio Analysis
As of June 21, 2026, NetApp, Inc. (NTAP) trades at a price-to-earnings ratio of 25.1x, with a stock price of $159.71 and trailing twelve-month earnings per share of $6.41.
The current P/E is 37% above its 5-year average of 18.3x. Over the past five years, NTAP's P/E has ranged from a low of 10.5x to a high of 24.6x, placing the current valuation at the 100th percentile of its historical range.
Compared to the Technology sector median P/E of 29.0x, NTAP is roughly in line with its sector peers. The sector includes 352 companies with P/E ratios ranging from 0.0x to 187.7x.
The PEG ratio of 1.73 (P/E divided by 12% EPS growth) suggests a fair valuation relative to its earnings growth. Peter Lynch popularized the rule that a PEG below 1.0 indicates an attractive entry point.
Relative to the broader market, NTAP trades roughly in line with the S&P 500 median P/E of 24.4x. Investors should consider the company's growth prospects, competitive position, and earnings quality when evaluating whether the current valuation is justified.
For a comprehensive intrinsic value estimate using discounted cash flow analysis, see our NTAP DCF Valuation Calculator →
Note: P/E ratio is just one valuation metric. It does not account for balance sheet strength, cash flow quality, or growth sustainability. Always conduct comprehensive due diligence before making investment decisions.
NTAP Cross-Benchmark Valuation
How does the current P/E compare to sector peers and the broader market?
NTAP P/E vs Peers
Data Center Compute and Storage peers sorted by market cap
| Company | Market Cap | P/E Ratio | PEG Ratio | EPS Growth (1Y) |
|---|---|---|---|---|
| $28B | 183.4 | - | +0% | |
| $272B | 47.2 | 3.04 | +36% | |
| $234B | 22.3 | 1.80Best | +74% | |
| $233B | 158.1 | 12.85 | +328%Best | |
| $253B | 145.7 | - | +296% | |
| $1B | 16.5Lowest | - | -2% | |
| $2B | 296.0 | - | +115% | |
| $3B | 42.1 | - | -57% | |
| $471B | 46.9 | - | +0% |
Lower P/E can signal a discount or weaker growth expectations; PEG adds growth context.
NTAP Historical P/E Data (1997–2026)
Quarterly P/E ratios calculated from closing price and TTM EPS
| Quarter | Period End | Price | TTM EPS | P/E Ratio | vs Avg |
|---|---|---|---|---|---|
| FY2026 Q4 | Apr 24 2026 | $108.71 | $6.36 | 17.1x | -78% |
| FY2026 Q3 | Jan 23 2026 | $97.42 | $5.98 | 16.3x | -79% |
| FY2026 Q2 | Oct 24 2025 | $116.64 | $5.75 | 20.3x | -74% |
| FY2026 Q1 | Jul 25 2025 | $104.94 | $5.66 | 18.5x | -76% |
| FY2025 Q4 | Apr 30 2025 | $89.75 | $5.68 | 15.8x | -80% |
| FY2025 Q3 | Jan 24 2025 | $126.00 | $5.40 | 23.3x | -70% |
| FY2025 Q2 | Oct 25 2024 | $119.41 | $5.44 | 22.0x | -72% |
| FY2025 Q1 | Jul 26 2024 | $126.15 | $5.12 | 24.6x | -68% |
| FY2024 Q4 | - | $102.21 | $4.64 | 22.0x | -72% |
| FY2024 Q3 | Jan 26 2024 | $88.06 | $4.40 | 20.0x | -74% |
| FY2024 Q2 | Oct 27 2023 | $71.81 | $3.22 | 22.3x | -71% |
| FY2024 Q1 | Jul 28 2023 | $77.24 | $5.53 | 14.0x | -82% |
| FY2023 Q4 | Apr 30 2023 | $62.89 | $5.80 | 10.8x | -86% |
| FY2023 Q3 | Jan 27 2023 | $65.54 | $5.81 | 11.3x | -85% |
| FY2023 Q2 | Oct 28 2022 | $69.40 | $6.61 | 10.5x | -86% |
| FY2023 Q1 | Jul 29 2022 | $71.33 | $4.18 | 17.1x | -78% |
| FY2022 Q4 | Apr 30 2022 | $73.25 | $4.10 | 17.9x | -77% |
| FY2022 Q3 | Jan 28 2022 | $86.37 | $4.42 | 19.5x | -75% |
| FY2022 Q2 | Oct 29 2021 | $89.30 | $4.12 | 21.7x | -72% |
| FY2022 Q1 | Jul 30 2021 | $79.59 | $3.75 | 21.2x | -73% |
| FY2021 Q4 | Apr 30 2021 | $74.69 | $3.22 | 23.2x | -70% |
| FY2021 Q3 | Jan 29 2021 | $66.44 | $2.64 | 25.2x | -68% |
| FY2021 Q2 | Oct 30 2020 | $43.89 | $3.05 | 14.4x | -81% |
| FY2021 Q1 | Jul 31 2020 | $44.30 | $3.47 | 12.8x | -84% |
| FY2020 Q4 | - | $43.77 | $3.54 | 12.4x | -84% |
| FY2020 Q3 | Jan 24 2020 | $59.81 | $4.25 | 14.1x | -82% |
| FY2020 Q2 | Oct 25 2019 | $56.01 | $4.02 | 13.9x | -82% |
| FY2020 Q1 | Jul 26 2019 | $59.11 | $3.90 | 15.2x | -80% |
| FY2019 Q4 | - | $72.85 | $4.53 | 16.1x | -79% |
| FY2019 Q3 | Jan 25 2019 | $63.73 | $3.93 | 16.2x | -79% |
| FY2019 Q2 | Oct 26 2018 | $71.82 | $1.06 | 67.8x | -13% |
| FY2019 Q1 | Jul 27 2018 | $79.45 | $0.79 | 100.6x | +30% |
| FY2018 Q4 | Apr 30 2018 | $66.58 | $0.23 | 289.5x | +274% |
| FY2018 Q2 | Oct 27 2017 | $44.01 | $2.33 | 18.9x | -76% |
| FY2018 Q1 | Jul 28 2017 | $43.49 | $2.07 | 21.0x | -73% |
| FY2017 Q4 | Apr 30 2017 | $39.85 | $1.81 | 22.0x | -72% |
| FY2017 Q3 | Jan 27 2017 | $37.76 | $1.10 | 34.3x | -56% |
| FY2017 Q2 | Oct 28 2016 | $33.76 | $1.10 | 30.6x | -60% |
| FY2017 Q1 | Jul 29 2016 | $26.35 | $1.11 | 23.7x | -69% |
| FY2016 Q4 | Apr 30 2016 | $23.64 | $0.78 | 30.2x | -61% |
| FY2016 Q3 | Jan 29 2016 | $21.93 | $1.24 | 17.7x | -77% |
| FY2016 Q2 | Oct 30 2015 | $34.00 | $1.28 | 26.5x | -66% |
| FY2016 Q1 | Jul 31 2015 | $31.15 | $1.38 | 22.6x | -71% |
| FY2015 Q4 | - | $36.25 | $1.75 | 20.7x | -73% |
| FY2015 Q3 | Jan 23 2015 | $39.48 | $1.91 | 20.7x | -73% |
| FY2015 Q2 | Oct 24 2014 | $40.72 | $1.90 | 21.4x | -72% |
| FY2015 Q1 | Jul 25 2014 | $38.13 | $1.89 | 20.2x | -74% |
| FY2014 Q4 | Apr 30 2014 | $35.61 | $1.85 | 19.2x | -75% |
| FY2014 Q3 | Jan 24 2014 | $43.96 | $1.73 | 25.4x | -67% |
| FY2014 Q2 | Oct 25 2013 | $39.39 | $1.61 | 24.5x | -68% |
| FY2014 Q1 | Jul 26 2013 | $41.35 | $1.43 | 28.9x | -63% |
| FY2013 Q4 | - | $34.89 | $1.37 | 25.5x | -67% |
| FY2013 Q3 | Jan 25 2013 | $36.15 | $1.37 | 26.4x | -66% |
| FY2013 Q2 | Oct 26 2012 | $27.88 | $1.26 | 22.1x | -71% |
| FY2013 Q1 | Jul 27 2012 | $32.91 | $1.40 | 23.5x | -70% |
| FY2012 Q4 | Apr 30 2012 | $38.83 | $1.57 | 24.7x | -68% |
| FY2012 Q3 | Jan 27 2012 | $37.28 | $1.50 | 24.9x | -68% |
| FY2012 Q2 | Oct 28 2011 | $41.59 | $1.60 | 26.0x | -66% |
| FY2012 Q1 | Jul 29 2011 | $47.52 | $1.58 | 30.1x | -61% |
| FY2011 Q4 | Apr 30 2011 | $52.11 | $1.62 | 32.2x | -58% |
| FY2011 Q3 | Jan 28 2011 | $54.03 | $1.61 | 33.6x | -57% |
| FY2011 Q2 | Oct 29 2010 | $53.25 | $1.49 | 35.7x | -54% |
| FY2011 Q1 | Jul 30 2010 | $42.30 | $1.34 | 31.6x | -59% |
| FY2010 Q4 | Apr 30 2010 | $34.67 | $1.11 | 31.2x | -60% |
| FY2010 Q3 | Jan 29 2010 | $29.13 | $0.93 | 31.3x | -60% |
| FY2010 Q2 | Oct 30 2009 | $27.05 | $0.40 | 67.6x | -13% |
| FY2010 Q1 | Jul 31 2009 | $22.46 | $0.28 | 80.2x | +4% |
| FY2009 Q4 | - | $18.30 | $0.24 | 76.3x | -2% |
| FY2009 Q3 | Jan 23 2009 | $15.32 | $0.29 | 52.8x | -32% |
| FY2009 Q2 | Oct 24 2008 | $12.20 | $0.81 | 15.1x | -81% |
| FY2009 Q1 | Jul 25 2008 | $24.60 | $0.89 | 27.6x | -64% |
| FY2008 Q4 | Apr 30 2008 | $24.20 | $0.87 | 27.8x | -64% |
| FY2008 Q3 | Jan 25 2008 | $22.23 | $0.84 | 26.5x | -66% |
| FY2008 Q2 | Oct 26 2007 | $31.49 | $0.72 | 43.7x | -44% |
| FY2008 Q1 | Jul 27 2007 | $29.24 | $0.71 | 41.2x | -47% |
| FY2007 Q4 | Apr 30 2007 | $37.21 | $0.76 | 49.0x | -37% |
| FY2007 Q3 | Jan 26 2007 | $36.73 | $0.69 | 53.2x | -31% |
| FY2007 Q2 | Oct 27 2006 | $35.78 | $0.72 | 49.7x | -36% |
| FY2007 Q1 | Jul 28 2006 | $29.83 | $0.68 | 43.9x | -43% |
| FY2006 Q4 | Apr 30 2006 | $37.07 | $0.70 | 53.0x | -32% |
| FY2006 Q3 | Jan 27 2006 | $31.63 | $0.71 | 44.5x | -42% |
| FY2006 Q2 | Oct 28 2005 | $27.12 | $0.67 | 40.5x | -48% |
| FY2006 Q1 | Jul 29 2005 | $25.51 | $0.64 | 39.9x | -49% |
| FY2005 Q4 | Apr 30 2005 | $26.67 | $0.61 | 43.7x | -44% |
| FY2005 Q3 | Jan 28 2005 | $31.21 | $0.54 | 58.0x | -25% |
| FY2005 Q2 | Oct 29 2004 | $24.47 | $0.49 | 50.2x | -35% |
| FY2005 Q1 | Jul 30 2004 | $19.29 | $0.47 | 41.2x | -47% |
| FY2004 Q4 | Apr 30 2004 | $18.61 | $0.42 | 44.6x | -42% |
| FY2004 Q3 | Jan 30 2004 | $22.38 | $0.39 | 56.9x | -27% |
| FY2004 Q2 | Oct 31 2003 | $24.69 | $0.34 | 71.9x | -7% |
| FY2004 Q1 | Aug 01 2003 | $16.23 | $0.26 | 61.6x | -20% |
| FY2003 Q4 | Apr 30 2003 | $13.26 | $0.23 | 56.8x | -27% |
| FY2003 Q3 | Jan 24 2003 | $11.18 | $0.18 | 61.0x | -21% |
| FY2003 Q2 | Oct 25 2002 | $9.73 | $0.14 | 67.9x | -12% |
| FY2003 Q1 | Jul 26 2002 | $9.39 | $0.06 | 157.8x | +104% |
| FY2002 Q4 | - | $17.45 | $0.01 | 2208.9x | +2752% |
| FY2002 Q2 | Oct 26 2001 | $13.16 | $0.06 | 235.0x | +203% |
| FY2002 Q1 | Jul 27 2001 | $11.27 | $0.19 | 59.3x | -23% |
| FY2001 Q4 | Apr 30 2001 | $22.75 | $0.20 | 112.9x | +46% |
| FY2001 Q3 | Jan 26 2001 | $56.50 | $0.27 | 210.8x | +172% |
| FY2001 Q2 | Oct 27 2000 | $123.00 | $0.24 | 516.8x | +567% |
| FY2001 Q1 | Jul 28 2000 | $85.00 | $0.19 | 452.1x | +484% |
| FY2000 Q4 | Apr 30 2000 | $73.94 | $0.22 | 339.2x | +338% |
| FY2000 Q3 | Jan 28 2000 | $49.59 | $0.18 | 272.2x | +251% |
| FY2000 Q2 | Oct 29 1999 | $18.50 | $0.15 | 121.6x | +57% |
| FY2000 Q1 | Jul 30 1999 | $13.63 | $0.13 | 103.1x | +33% |
| FY1999 Q4 | Apr 30 1999 | $12.58 | $0.12 | 102.9x | +33% |
| FY1999 Q3 | Jan 29 1999 | $13.25 | $0.11 | 116.7x | +51% |
| FY1999 Q2 | Oct 30 1998 | $6.84 | $0.10 | 66.1x | -15% |
| FY1999 Q1 | Jul 31 1998 | $5.22 | $0.09 | 55.8x | -28% |
| FY1998 Q4 | - | $4.51 | $0.08 | 54.0x | -30% |
| FY1998 Q3 | Jan 23 1998 | $3.64 | $0.04 | 89.4x | +15% |
| FY1998 Q2 | Oct 24 1997 | $3.39 | $0.04 | 83.3x | +8% |
| FY1998 Q1 | Jul 25 1997 | $2.50 | $0.03 | 81.4x | +5% |
| FY1997 Q4 | Apr 30 1997 | $1.82 | $0.01 | 206.8x | +167% |
| FY1997 Q3 | Jan 24 1997 | $3.38 | $0.04 | 78.4x | +1% |
Average P/E for displayed period: 77.5x
Full Stock Analysis
Deep dive into NTAP consensus models and risk factors.
Intrinsic Valuation
DCF models, multiple analysis, and analyst estimates.
Historical Returns
29+ years return with dividends reinvested.
DCA Calculator
See how regular investing compounds over time.
Peer Comparison
Compare growth, multiples, and margins vs sector.
NTAP — Frequently Asked Questions
Quick answers to the most common questions about buying NTAP stock.
What is NTAP's P/E ratio?
NetApp, Inc. (NTAP) trailing twelve-month P/E ratio is 25.1x, based on TTM diluted EPS of $6.41. The 5-year average P/E is 18.3x and the historical range spans 10.5x to 24.6x.
Is NTAP stock overvalued or undervalued?
NTAP trades at 25.1x P/E, above its 5-year average of 18.3x. The 100th percentile ranking within the 10.5x–24.6x historical range indicates a premium to historical valuation.
Is NTAP stock expensive?
Yes, NTAP is expensive relative to its own history. The current P/E of 25.1x is above the 5-year average of 18.3x. The stock sits at the 100th percentile of its 5-year valuation range.
What is NTAP's historical P/E range?
Over the past 5 years, NTAP's P/E ratio has ranged from 10.5x to 24.6x, with a median of 19.5x and an average of 18.3x. The current P/E of 25.1x places the stock at the 100th percentile of this range. Full historical data spans 1997–2026.
How does NTAP's P/E compare to the S&P 500?
NTAP trades at 25.1x P/E versus the S&P 500 median of 24.4x. The 3% premium to the market typically reflects higher expected earnings growth or quality.
How does NTAP's valuation compare to Technology peers?
NetApp, Inc. P/E of 25.1x compares to the Technology sector median of 29.0x. The discount suggests lower growth expectations, weaker margins, or higher perceived risk relative to peers. See the peer comparison table on this page for ticker-by-ticker P/E and PEG.
What is NTAP's PEG ratio?
NTAP PEG ratio is 1.73, based on a P/E of 25.1x and EPS growth of 12.2%. A PEG between 1 and 2 suggests valuation aligns with growth expectations — typically considered fair.
What is NTAP's earnings yield?
NTAP earnings yield is 3.98%, the inverse of its 25.1x P/E ratio. Earnings yield represents the percentage of each dollar invested that the company earns. It can be compared directly to bond yields to assess relative attractiveness of stocks versus fixed income.