N 
NetApp NTAP · USD
Information Technology · Technology Hardware, Storage & Peripherals · US listing · 🇺🇸 United States
S&P 500
176.07
+4.07%
Close of 9 Nov 2026, in USD
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At a glance
Figures in USD, from our data supplier.
Revenue
$6.92bn
FY2017FY2026
Net income
$1.28bn
FY2017FY2026
Free cash flow
$1.87bn
FY2017FY2026
Shareholders' equity
$1.35bn
FY2017FY2026
Income statement
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $6.92bn | $6.57bn | $6.27bn | $6.36bn | $6.32bn | $5.74bn | $5.41bn | $6.15bn | $5.91bn | $5.52bn |
| Gross profit | $4.90bn | $4.61bn | $4.43bn | $4.21bn | $4.22bn | $3.81bn | $3.62bn | $3.94bn | $3.70bn | $3.39bn |
| Research and development | $991.0m | $1.01bn | $1.03bn | $956.0m | $881.0m | $881.0m | $847.0m | $827.0m | $783.0m | $779.0m |
| Operating income | $1.70bn | $1.34bn | $1.21bn | $1.02bn | $1.16bn | $1.04bn | $945.0m | $1.22bn | $1.13bn | $715.0m |
| Net income | $1.28bn | $1.19bn | $986.0m | $1.27bn | $937.0m | $730.0m | $819.0m | $1.17bn | $76.0m | $509.0m |
| Diluted earnings per share | 6.38 | 5.87 | 4.70 | 6.04 | 4.26 | 3.19 | 3.66 | 4.95 | 0.29 | 1.85 |
Balance sheet
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | $10.74bn | $10.82bn | $9.89bn | $9.82bn | $10.03bn | $9.36bn | $7.52bn | $8.74bn | $9.87bn | $9.49bn |
| Cash and short-term investments | $3.58bn | $3.85bn | $3.25bn | $3.07bn | $4.13bn | $4.60bn | $2.88bn | $3.90bn | $5.39bn | $4.92bn |
| Total liabilities | $9.39bn | $9.78bn | $8.74bn | $8.66bn | $9.19bn | $8.68bn | $7.28bn | $7.65bn | $7.80bn | $6.71bn |
| Debt | $2.53bn | $3.27bn | $2.43bn | $2.44bn | $2.68bn | $2.63bn | $1.72bn | $1.79bn | $1.93bn | $2.12bn |
| Shareholders' equity | $1.35bn | $1.04bn | $1.15bn | $1.16bn | $838.0m | $685.0m | $242.0m | $1.09bn | $2.07bn | $2.78bn |
| Shares outstanding | 200m | 202m | 210m | 211m | 220m | 229m | 224m | 236m | 264m | 275m |
Cash flow
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | $2.07bn | $1.51bn | $1.69bn | $1.11bn | $1.21bn | $1.33bn | $1.06bn | $1.34bn | $1.48bn | $986.0m |
| Capital spending | −$198.0m | −$168.0m | −$155.0m | −$239.0m | −$226.0m | −$162.0m | −$124.0m | −$173.0m | −$145.0m | −$175.0m |
| Free cash flow | $1.87bn | $1.34bn | $1.53bn | $868.0m | $985.0m | $1.17bn | $936.0m | $1.17bn | $1.33bn | $811.0m |
| Dividends paid | −$413.0m | −$424.0m | −$416.0m | −$432.0m | −$446.0m | −$427.0m | −$439.0m | −$403.0m | −$214.0m | −$208.0m |
Latest quarters
By quarter end
| Jul 2026 | Apr 2026 | Jan 2026 | Oct 2025 | Jul 2025 | Apr 2025 | Jan 2025 | Oct 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $2.02bn | $1.95bn | $1.71bn | $1.71bn | $1.56bn | $1.73bn | $1.64bn | $1.66bn |
| Gross profit | $1.42bn | $1.36bn | $1.21bn | $1.23bn | $1.10bn | $1.19bn | $1.15bn | $1.18bn |
| Operating income | $541.0m | $531.0m | $432.0m | $422.0m | $311.0m | $394.0m | $373.0m | $358.0m |
| Net income | $375.0m | $404.0m | $334.0m | $305.0m | $233.0m | $340.0m | $299.0m | $299.0m |
| Diluted earnings per share | 1.88 | 2.02 | 1.67 | 1.51 | 1.15 | 1.65 | 1.44 | 1.42 |
| Cash from operations | $503.0m | $950.0m | $317.0m | $127.0m | $673.0m | $675.0m | $385.0m | $105.0m |
| Capital spending | −$102.0m | −$50.0m | −$46.0m | −$49.0m | −$53.0m | −$35.0m | −$47.0m | −$45.0m |
| Free cash flow | $401.0m | $900.0m | $271.0m | $78.0m | $620.0m | $640.0m | $338.0m | $60.0m |
| Total assets | $10.96bn | $10.74bn | $9.97bn | $9.63bn | $9.68bn | $10.82bn | $8.99bn | $9.00bn |
| Cash and short-term investments | $3.58bn | $3.58bn | $3.02bn | $3.01bn | $3.32bn | $3.85bn | $2.26bn | $2.22bn |
| Debt | $2.53bn | $2.53bn | $2.53bn | $2.49bn | $2.48bn | $2.48bn | $1.24bn | $1.24bn |
| Shareholders' equity | $1.50bn | $1.35bn | $1.16bn | $986.0m | $975.0m | $1.04bn | $995.0m | $892.0m |
Financial ratios
Data as of 27 Sept 2026
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Gross margin | 70.7% | 70.2% | 70.7% | 66.2% | 66.8% | 66.4% |
| Operating margin | 24.5% | 20.3% | 19.4% | 16.0% | 18.3% | 18.0% |
| Net margin | 18.4% | 18.0% | 15.7% | 20.0% | 14.8% | 12.7% |
| Return on equity | 94.4% | 114.0% | 86.0% | 109.9% | 111.8% | 106.6% |
| Return on assets | 11.9% | 11.0% | 10.0% | 13.0% | 9.3% | 7.8% |
| Free cash flow yield | 5.6% | 4.1% | 4.4% | 3.2% | 3.2% | 3.2% |
| Revenue growth | 5.4% | 4.9% | -1.5% | 0.7% | 10.0% | 6.1% |
| Earnings growth | 7.6% | 20.3% | -22.6% | 36.0% | 28.4% | -10.9% |
| Current ratio | 1.44x | 1.26x | 1.19x | 1.35x | 1.50x | 1.74x |
| Debt to equity | 1.87x | 3.15x | 2.12x | 2.10x | 3.20x | 3.91x |
| Equity ratio | 12.6% | 9.6% | 11.6% | 11.8% | 8.4% | 7.3% |
| Interest coverage | 20.93x | 20.89x | 18.97x | 15.19x | 15.85x | 14.00x |
| R&D as a share of sales | 14.3% | 15.4% | 16.4% | 15.0% | 13.9% | 15.3% |
| Buybacks as a share of market value | 1.0% | 3.8% | 0.5% | 4.1% | 3.9% | -2.2% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 2.9% | 3.8% | 2.2% |
| Operating income | 18.5% | 10.3% | 17.2% |
| Net income | 0.1% | 11.8% | 18.7% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 70.5% | 69.5% | 68.6% | 66.3% |
| Operating margin | 22.5% | 20.1% | 19.5% | 17.7% |
| Net margin | 18.2% | 18.1% | 16.7% | 13.8% |
Valuation history
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 29.4 | 18.2 | 24.7 | 14.6 | 14.1 | 28.9 | 18.1 | 12.6 | 207.3 | 29.9 |
| Price to sales | 5.4 | 3.3 | 3.9 | 2.9 | 2.1 | 3.7 | 2.7 | 2.4 | 2.7 | 2.8 |
Market value over time
31 Oct 2016 to 25 Sept 2026, in USD
$9.64bn$40.23bn
Share price return
Finished calendar years
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Return | -7% | 31% | 53% | -32% | 36% | 4% | 7% | 1% | 55% | 42% |
Dividends and splits
Per share, in the currency the company pays
Paid for 13 years. Last went ex-dividend on 9 Oct 2026.
| FY2027 | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 1.04 | 2.08 | 2.08 | 2.00 | 2.00 | 2.00 | 1.92 | 1.92 |
- 2-for-1 split · 23 Mar 2000
- 2-for-1 split · 21 Dec 1999
- 2-for-1 split · 22 Dec 1998
- 2-for-1 split · 19 Dec 1997
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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