NetApp, Inc. (NTAP)

NetApp, Inc. provides a range of enterprise software, systems, and services that customers use to transform their data infrastructures in the United States, Canada, Latin America, Europe, the Middle East, Africa, and the Asia Pacific. It operates through two segments, Hybrid Cloud and Public Cloud. The company offers data management software, such as NetApp ONTAP, ONTAP One, NetApp Snapshot, NetApp SnapCenter Backup Management, NetApp SnapMirror Data Replication, and NetApp SnapLock Data Compliance; and storage infrastructure solutions, including NetApp AFF and ASA A-Series and C-Series, NetApp AFX, NetApp Fabric Attached Storage (FAS), NetApp E/EF series, and NetApp StorageGRID. It also provides cloud storage services comprising Azure NetApp Files, Amazon FSx for NetApp ONTAP, and Google Cloud NetApp Volumes, as well as NetApp Cloud Volumes ONTAP. In addition, the company offers operational services, such as NetApp Data Infrastructure Insights and Instaclustr; and professional and support services include storage-as-a-service (STaaS), strategic consulting, professional, managed, and support services, as well as assessment, design, implementation, migration, and proactive support services to help customers optimize the performance and efficiency of their on-premises and hybrid multicloud storage environments. Further, it offers ransomware protection, data backup and recovery, and disaster recovery. It serves various industries comprising energy, financial services, government, technology, internet, life sciences, healthcare services, manufacturing, media, entertainment, animation, video postproduction, and telecommunications through a direct sales force and an ecosystem of partners, including the cloud providers. The company has a strategic alliance with Commvault Systems, Inc. to develop an integrated solution for enterprise data protection and cyber resilience. NetApp, Inc. was incorporated in 1992 and is headquartered in San Jose, California.

Symbol
NTAP
Exchange
Nasdaq
Sector
Technology
Industry
Software - Infrastructure
Market cap
$44.35B
52 week range
93.69 - 231.9

Valuation

Share price
$226.27 (close of 2026-10-02)
P/E (TTM)
31.60x
Price to book
29.66x
Price to free cash flow
26.88x
Enterprise value
$43.31B
Book value per share
$7.63

Price performance

PeriodChange
1 day+5.22%
5 days+12.49%
1 month+25.17%
3 months+46.77%
6 months+118.94%
Year to date+111.29%
1 year+88.45%
3 years+198.51%
5 years+149.80%
10 years+531.69%
All time+17577.34%

Members of Congress who disclosed NTAP trades

John Boozman

Super investors holding NTAP

Ken Griffin (Citadel) · Ray Dalio (Bridgewater Associates) · Lee Ainslie (Maverick Capital LTD)

Profitability and growth

Return on equity
94.45%
Return on invested capital
260.40%
Return on assets
11.88%
Return on capital employed
24.90%
Gross margin
70.74%
Net margin
18.43%
EBITDA margin
27.06%
Revenue growth
5.37%
Net income growth
7.59%
Free cash flow growth
39.69%

Cash flow and balance sheet

Free cash flow yield (TTM)
3.72%
Current ratio
1.24x
Net debt to EBITDA
-0.49x

Latest reported year

Period end
2026-04-24
Fiscal year
2026
Revenue
$6.92B
Cost of revenue
$2.03B
Gross profit
$4.90B
EBITDA
$1.87B
Net income
$1.28B
Earnings per share
$6.41
Research and development
$991.00M
Shares outstanding
199.00M

Income statement by year

Period endRevenueGross profitNet incomeEPS
2026-04-24$6.92B$4.90B$1.28B$6.41
2025-04-25$6.57B$4.61B$1.19B$5.81
2024-04-26$6.27B$4.43B$986.00M$4.74
2023-04-28$6.36B$4.21B$1.27B$5.87
2022-04-29$6.32B$4.22B$937.00M$4.20
2021-04-30$5.74B$3.81B$730.00M$3.29
2020-04-24$5.41B$3.62B$819.00M$3.56
2019-04-26$6.15B$3.94B$1.17B$4.60
2018-04-27$5.92B$3.71B$116.00M$0.43
2017-04-28$5.49B$3.36B$481.00M$1.75

Margins and returns by year

Period endGross marginNet marginReturn on equityReturn on capital
2026-04-2470.74%18.43%94.45%260.40%
2025-04-2570.19%18.05%114.04%166.42%
2024-04-2670.72%15.73%86.04%171.61%
2023-04-2866.16%20.03%109.92%131.69%
2022-04-2966.79%14.83%111.81%-
2021-04-3066.42%12.71%106.57%-
2020-04-2466.94%15.13%338.43%-
2019-04-2664.19%19.02%107.25%-
2018-04-2762.66%1.96%5.10%-
2017-04-2861.26%8.76%16.31%-

Cash and debt by year

Period endCashDebt
2026-04-24$3.58B$2.49B
2025-04-25$3.85B$2.48B
2024-04-26$3.25B$1.99B
2023-04-28$3.07B$2.39B
2022-04-29$4.13B$2.39B
2021-04-30$4.60B$2.63B
2020-04-24$2.88B$1.15B
2019-04-26$3.90B$1.14B
2018-04-27$5.39B$1.54B
2017-04-28$4.92B$744.00M

Free cash flow by year

Period endFree cash flowStock-based compensation
2026-04-24$1.87B$382.00M
2025-04-25$1.34B$386.00M
2024-04-26$1.53B$357.00M
2023-04-28$868.00M$312.00M
2022-04-29$985.00M$245.00M
2021-04-30$1.17B$197.00M
2020-04-24$936.00M$153.00M
2019-04-26$1.17B$158.00M
2018-04-27$1.33B$161.00M
2017-04-28$811.00M$195.00M

Dividend history

Most recent payment
2026-07-10
Paid in the last twelve months
$2.08
Payment dateDividend per share
2026-07-10$0.52
2026-04-02$0.52
2026-01-02$0.52
2025-10-03$0.52
2025-07-03$0.52
2025-04-04$0.52
2025-01-03$0.52
2024-10-04$0.52

Investor relations

Next earnings report

Next confirmed report
2026-11-24
Consensus EPS estimate
$2.13

Past earnings dates

ReportedFiscal periodEPS estimate
2026-09-02Jul/2026$1.72
2026-05-28Apr/2026$1.88
2026-02-26Jan/2026$1.67
2025-11-25Oct/2025$1.51
2025-08-27Jul/2025$1.19
2025-05-29Apr/2025$1.54
2025-02-27Jan/2025$1.55
2024-11-21Oct/2024$1.44

Filings and sources

Company website
netapp.com
SEC filings
10-K, 10-Q and 8-K on EDGAR
Earnings calendar
All upcoming reports

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