NTAP

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NetApp, Inc.

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Key Metrics

Previous Close: $226.27
52-Week Range: $93.69 – $231.90
Market Cap: $43.69B
P/E (TTM): 31.37
EPS (TTM): 7.09
Dividend Yield: 0.92%

Advanced Metrics

Price/Book: 29.16
PEG Ratio: 2.51
Return on Equity: 114.82%
Return on Assets: 11.66%
Gross Margin: 70.63%
Operating Margin: 26.67%
Profit Margin: 19.18%
Current Ratio: 1.24
Debt/Equity: 1.69
Total Debt: $2.53B
Free Cash Flow: $1.17B
Revenue Growth: 29.90%
Earnings Growth: 63.50%
Enterprise Value: $43.40B

NTAP Income statement, annual periods, in USD
USD	FY2023	FY2024	FY2025	FY2026
Revenue	$6.36B	$6.27B	$6.57B	$6.92B
Cost of Revenue	$2.15B	$1.83B	$1.96B	$2.03B
Gross Profit	$4.21B	$4.43B	$4.61B	$4.90B
Research & Development	$956.00M	$1.03B	$1.01B	$991.00M
Selling, General & Admin	$2.09B	$2.14B	$2.18B	$2.21B
Operating Expenses	$3.05B	$3.17B	$3.19B	$3.20B
Operating Income	$1.16B	$1.27B	$1.43B	$1.70B
EBITDA	$1.38B	$1.58B	$1.69B	$1.96B
Pretax Income	$1.07B	$1.26B	$1.38B	$1.65B
Income Tax	-$208.00M	$277.00M	$197.00M	$372.00M
Net Income	$1.27B	$986.00M	$1.19B	$1.28B
Diluted EPS	5.79	4.63	5.67	6.35
Diluted Shares	220.00M	213.00M	209.00M	201.00M

NTAP Balance Sheet statement, annual periods, in USD
USD	FY2023	FY2024	FY2025	FY2026
Cash & Equivalents	$2.32B	$1.90B	$2.74B	$2.07B
Receivables	$987.00M	$1.01B	$1.25B	$1.29B
Inventory	$167.00M	$186.00M	$186.00M	$198.00M
Current Assets	$4.68B	$4.90B	$5.85B	$5.78B
Total Assets	$9.82B	$9.89B	$10.82B	$10.74B
Current Liabilities	$3.47B	$4.11B	$4.66B	$4.02B
Long-Term Debt	$2.39B	$1.99B	$2.48B	$2.49B
Total Debt	$2.68B	$2.65B	$3.49B	$2.73B
Total Liabilities	$8.66B	$8.74B	$9.78B	$9.39B
Retained Earnings	$265.00M	$208.00M	$0.00	$153.00M
Shareholders' Equity	$1.16B	$1.15B	$1.04B	$1.35B
Working Capital	$1.21B	$791.00M	$1.19B	$1.75B
Net Debt	$73.00M	$489.00M	$493.00M	$417.00M

NTAP Cash Flow statement, annual periods, in USD
USD	FY2023	FY2024	FY2025	FY2026
Operating Cash Flow	$1.11B	$1.69B	$1.51B	$2.07B
Capital Expenditure	-$239.00M	-$155.00M	-$168.00M	-$198.00M
Free Cash Flow	$868.00M	$1.53B	$1.34B	$1.87B
Depreciation & Amortisation	$248.00M	$255.00M	$243.00M	$200.00M
Stock-Based Compensation	$312.00M	$357.00M	$386.00M	$382.00M
Investing Cash Flow	-$1.39B	-$735.00M	$147.00M	-$595.00M
Financing Cash Flow	-$1.51B	-$1.34B	-$828.00M	-$2.15B
Dividends Paid	-$432.00M	-$416.00M	-$424.00M	-$413.00M
Share Repurchases	-$850.00M	-$900.00M	-$1.15B	-$950.00M
Net Change in Cash	-$1.80B	-$394.00M	$825.00M	-$675.00M

NTAP Income statement, quarterly periods, in USD
USD	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026	Q3 2026
Revenue	$1.73B	$1.56B	$1.71B	$1.71B	$1.95B	$2.02B
Cost of Revenue	$539.00M	$461.00M	$478.00M	$504.00M	$583.00M	$606.00M
Gross Profit	$1.19B	$1.10B	$1.23B	$1.21B	$1.36B	$1.42B
Research & Development	$256.00M	$242.00M	$251.00M	$237.00M	$261.00M	$274.00M
Selling, General & Admin	$543.00M	$545.00M	$554.00M	$541.00M	$573.00M	$605.00M
Operating Expenses	$799.00M	$787.00M	$805.00M	$778.00M	$834.00M	$879.00M
Operating Income	$394.00M	$311.00M	$422.00M	$431.00M	$531.00M	$540.00M
EBITDA	$428.00M	$384.00M	$471.00M	$507.00M	$595.00M	$546.00M
Pretax Income	$354.00M	$304.00M	$393.00M	$433.00M	$518.00M	$484.00M
Income Tax	$14.00M	$71.00M	$88.00M	$99.00M	$114.00M	$109.00M
Net Income	$340.00M	$233.00M	$305.00M	$334.00M	$404.00M	$375.00M
Diluted EPS	1.65	1.15	1.51	1.67	2.03	1.88
Diluted Shares	206.00M	203.00M	202.00M	200.00M	199.00M	200.00M

NTAP Balance Sheet statement, quarterly periods, in USD
USD	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026	Q3 2026
Cash & Equivalents	$2.74B	$2.08B	$2.07B	$1.63B	$2.07B	$1.57B
Receivables	$1.25B	$787.00M	$988.00M	$1.31B	$1.29B	$966.00M
Inventory	$186.00M	$133.00M	$127.00M	$109.00M	$198.00M	$375.00M
Current Assets	$5.85B	$4.69B	$4.65B	$5.00B	$5.78B	$5.67B
Total Assets	$10.82B	$9.68B	$9.63B	$9.97B	$10.74B	$10.96B
Current Liabilities	$4.66B	$3.57B	$3.47B	$3.59B	$4.02B	$4.57B
Long-Term Debt	$2.48B	$2.48B	$2.49B	$2.49B	$2.49B	$1.94B
Total Debt	$3.49B	$2.75B	$2.74B	$2.73B	$2.73B	$2.53B
Total Liabilities	$9.78B	$8.70B	$8.64B	$8.81B	$9.39B	$9.46B
Retained Earnings	$0.00	$0.00	$0.00	$40.00M	$153.00M	$235.00M
Shareholders' Equity	$1.04B	$975.00M	$986.00M	$1.16B	$1.35B	$1.50B
Working Capital	$1.19B	$1.12B	$1.18B	$1.40B	$1.75B	$1.10B
Net Debt	$493.00M	$400.00M	$414.00M	$857.00M	$417.00M	$915.00M

NTAP Cash Flow statement, quarterly periods, in USD
USD	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026	Q3 2026
Operating Cash Flow	$675.00M	$673.00M	$127.00M	$317.00M	$950.00M	$503.00M
Capital Expenditure	-$35.00M	-$53.00M	-$49.00M	-$46.00M	-$50.00M	-$102.00M
Free Cash Flow	$640.00M	$620.00M	$78.00M	$271.00M	$900.00M	$401.00M
Depreciation & Amortisation	$53.00M	$51.00M	$52.00M	$48.00M	$49.00M	$33.00M
Stock-Based Compensation	$95.00M	$83.00M	$102.00M	$97.00M	$100.00M	$98.00M
Investing Cash Flow	-$313.00M	-$181.00M	$249.00M	-$483.00M	-$180.00M	-$674.00M
Financing Cash Flow	$851.00M	-$1.16B	-$383.00M	-$279.00M	-$328.00M	-$319.00M
Dividends Paid	-$105.00M	-$104.00M	-$103.00M	-$103.00M	-$103.00M	-$102.00M
Share Repurchases	-$250.00M	-$300.00M	-$250.00M	-$200.00M	-$200.00M	-$200.00M
Net Change in Cash	$1.21B	-$665.00M	-$7.00M	-$445.00M	$442.00M	-$490.00M

Market Snapshot

About

NetApp is a global leader in enterprise data storage and cloud data management solutions. The company provides intelligent data infrastructure software and systems that help organizations manage, protect, and optimize their data across on-premises, hybrid cloud, and multi-cloud environments using its ONTAP operating system.