NetApp, Inc. (NTAP) P/E Ratio History
Historical price-to-earnings valuation from 1997 to 2026
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NTAP Valuation Context
How does the current P/E compare to historical and market benchmarks?
P/E Ratio Analysis
As of May 6, 2026, NetApp, Inc. (NTAP) trades at a price-to-earnings ratio of 20.1x, with a stock price of $114.14 and trailing twelve-month earnings per share of $6.06.
The current P/E is roughly in line with its 5-year average of 18.6x. 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 55th percentile of its historical range.
Compared to the Technology sector median P/E of 26.7x, NTAP trades at a 25% discount to its sector peers. The sector includes 358 companies with P/E ratios ranging from 0.0x to 197.6x.
The PEG ratio of 2.01 (P/E divided by 22% EPS growth) suggests the stock may be expensive 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 25.1x. 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 P/E vs Peers
P/E ratio compared to closely matched public peers
| Company | Market Cap | P/E Ratio | PEG Ratio | EPS Growth (1Y) |
|---|---|---|---|---|
| $22B | 142.5 | - | +52% | |
| $215B | 20.5 | 1.66Best | +74% | |
| $168B | 113.9 | 9.26 | +328%Best | |
| $158B | 90.9 | - | +296% | |
| $915M | 14.1Lowest | - | -2% | |
| $4B | 42.7 | - | -57% | |
| $373B | 37.0 | - | +0% |
Peers sorted by market capitalization. P/E below peers may indicate undervaluation or lower growth expectations. Consider PEG ratio for growth-adjusted comparison.
NTAP Historical P/E Data (1997–2026)
Quarterly P/E ratios calculated from closing price and TTM EPS
| Quarter | Date | Price | TTM EPS | P/E Ratio | vs Avg |
|---|---|---|---|---|---|
| FY2026 Q3 | Fri Jan 23 2026 00:00:00 GM | $97.42 | $5.98 | 16.3x | -79% |
| FY2026 Q2 | Fri Oct 24 2025 00:00:00 GM | $116.64 | $5.75 | 20.3x | -74% |
| FY2026 Q1 | Fri Jul 25 2025 00:00:00 GM | $104.94 | $5.66 | 18.5x | -76% |
| FY2025 Q4 | Wed Apr 30 2025 00:00:00 GM | $89.75 | $5.68 | 15.8x | -80% |
| FY2025 Q3 | Fri Jan 24 2025 00:00:00 GM | $126.00 | $5.40 | 23.3x | -70% |
| FY2025 Q2 | Fri Oct 25 2024 00:00:00 GM | $119.41 | $5.44 | 22.0x | -72% |
| FY2025 Q1 | Fri Jul 26 2024 00:00:00 GM | $126.15 | $5.12 | 24.6x | -68% |
| FY2024 Q4 | $102.21 | $4.64 | 22.0x | -72% | |
| FY2024 Q3 | Fri Jan 26 2024 00:00:00 GM | $88.06 | $4.40 | 20.0x | -74% |
| FY2024 Q2 | Fri Oct 27 2023 00:00:00 GM | $71.81 | $3.22 | 22.3x | -71% |
| FY2024 Q1 | Fri Jul 28 2023 00:00:00 GM | $77.24 | $5.53 | 14.0x | -82% |
| FY2023 Q4 | Sun Apr 30 2023 00:00:00 GM | $62.89 | $5.80 | 10.8x | -86% |
Average P/E for displayed period: 78.0x
Full NTAP Stock Analysis
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Start ComparisonNTAP — Frequently Asked Questions
Quick answers to the most common questions about buying NTAP stock.
Is NTAP stock overvalued or undervalued?
NTAP trades at 20.1x P/E, near its 5-year average of 18.6x. The 55th percentile ranking places valuation within normal historical bounds.
How does NTAP's valuation compare to peers?
NetApp, Inc. P/E of 20.1x compares to sector median of 26.7x. The discount suggests lower growth expectations or higher risk.
What is NTAP's PEG ratio?
NTAP PEG ratio is 2.01. Above 2.0 indicates premium valuation relative to growth rate. Historical P/E data spans 1997-2026.