NetApp, Inc. NTAP SPX

Technology · Software - Infrastructure · United States

https://www.netapp.com

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 All-Flash FAS (AFF A-Series), NetApp All-Flash FAS with capacity flash (AFF C-Series), NetApp All-Flash SAN Array (ASA A-Series & C-Series), NetApp Fabric Attached Storage (FAS), NetApp E/EF series, and NetApp StorageGRID. It also provides cloud storage services comprising NetApp Cloud Volumes ONTAP, Azure NetApp Files, Amazon FSx for NetApp ONTAP, and Google Cloud NetApp Volumes, as well as NetApp BlueXP, BlueXP Copy and Sync, BlueXP Backup and Recovery, BlueXP Classification, and BlueXP Ransomware Protection. In addition, the company offers operational services, such as NetApp Data Infrastructure Insights and Instaclustr; and professional and support services offerings 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. 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 leading 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.

Market & Price

Market Cap

$34.52B

Current Price

$174.29

High / Low (52W)

$174.29 / $93.63

Beta

1.27

Valuation

Stock P/E

27.49

Industry PE

32.74

Forward P/E

17.76

PEG Ratio

1.98

Book Value

$5.85

Price to Book

29.80

P/S

4.98

EV/EBITDA

17.54

Dividend Yield

1.19%

Profitability & Returns

ROCE

23.49%

ROE

106.73%

ROA

9.82%

Profit Margin

18.43%

Op Margin

27.26%

EPS (Latest Qtr)

$2.03

EPS (TTM)

$6.34

Balance Sheet & Liquidity

Debt/Equity

1.84

Quick Ratio

1.21

Current Ratio

1.44

Debt

$2.49B

Total Assets

$10.82B

Current Assets

$5.85B

Working Capital

$1.19B

Ownership

Promoter Holding

0.59%

Chg in Prom Hold

FII / Inst Holding

105.09%

Chg in FII Hold

0.00%

Financial Snapshot

Enterprise Value

$33.24B

Total Revenue (TTM)

$6.93B

EBITDA

$1.90B

Free Cash Flow

$1.40B

Operating Cash Flow

$2.07B

Shares Outstanding

197.33M

Gross Margin

70.74%

Payout Ratio

32.76%

Growth (CAGR)

Revenue 5Y

1.32%

Profit 5Y

8.17%

Revenue (YoY)

12.50%

Earnings (YoY)

23.50%

PROS

Strong return on equity of 106.7%.
Healthy ROCE of 23.5%.
Generates positive free cash flow.
In a confirmed uptrend (50-DMA above 200-DMA).

CONS

RSI at 92 suggests overbought conditions.

* The pros and cons are auto-generated from financial metrics.

Price Chart

Robinhood TradingView StockAnalysis

Fundamental Growth

Period: Metric:

Figures from the latest reported periods. CAGR is computed across the displayed window (quarterly CAGR is annualised assuming 4 quarters per year).

Peer comparison

Peer companies in the same sector (Technology).

#	Name	CMP $	P/E	Mkt Cap	Div Yld %	ROCE %	ROE %	Rev CAGR 5Y %	Profit CAGR 5Y %
1	NTAP NetApp, Inc. SPX	174.29	27.49	$34.52B	1.19%	23.49%	106.73%	1.32%	8.17%
2	NVDA NVIDIA Corporation NDXSPXAI	211.14	32.38	$5.11T	0.47%	81.14%	114.29%	100.05%	201.80%
3	AAPL Apple Inc. NDXSPX	312.06	37.73	$4.58T	0.35%	68.72%	141.47%	1.81%	3.92%
4	MSFT Microsoft Corporation NDXSPXAI	450.24	26.82	$3.34T	0.81%	26.37%	34.01%	12.42%	11.87%
5	TSM Taiwan Semiconductor Manufacturing Company Limited AI	418.45	35.86	$2.17T	0.91%	32.04%	36.21%	18.94%	19.57%
6	MU Micron Technology, Inc. NDXSPXAI	971.00	45.87	$1.10T	0.06%	14.20%	39.82%	6.71%	-0.57%
7	AMD Advanced Micro Devices, Inc. NDXSPXAI	516.10	172.61	$841.55B	-	6.33%	8.06%	13.64%	48.64%
8	ORCL Oracle Corporation SPXAI	225.78	40.46	$649.35B	0.89%	13.07%	57.57%	10.59%	22.81%
9	ASML ASML Holding N.V. NDXAI	1,612.76	53.76	$621.59B	0.54%	43.81%	52.24%	15.55%	19.55%

Quarterly Results

Figures in USD.

Metric	Jan 2014	Apr 2014	Jul 2014	Oct 2014	Jan 2015	Jul 2015	Oct 2015	Jan 2016	Jul 2016	Oct 2016	Jan 2017	Jul 2017	Oct 2017	Jan 2018	Jul 2018	Oct 2018	Jan 2019	Jul 2019	Oct 2019	Jan 2020	Jul 2020	Oct 2020	Jan 2021	Jul 2021	Oct 2021	Jan 2022	Jul 2022	Oct 2022	Jan 2023	Jul 2023	Oct 2023	Jan 2024	Jul 2024	Oct 2024	Jan 2025	Apr 2025	Jul 2025	Oct 2025	Jan 2026	Apr 2026
Revenue	-	-	-	-	-	-	-	-	-	-	-	1.32B	1.42B	1.54B	1.47B	1.52B	1.56B	1.24B	1.37B	1.40B	1.30B	1.42B	1.47B	1.46B	1.57B	1.61B	1.59B	1.66B	1.53B	1.43B	1.56B	1.61B	1.54B	-	1.64B	1.73B	1.56B	1.71B	1.71B	-
Cost of Revenue	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	496.00M	539.00M	461.00M	478.00M	504.00M	-
Gross Profit	1.00B	1.04B	938.00M	983.00M	977.00M	816.00M	884.00M	855.00M	797.00M	829.00M	851.00M	824.00M	900.00M	956.00M	963.00M	974.00M	982.00M	816.00M	925.00M	941.00M	872.00M	933.00M	975.00M	999.00M	1.06B	1.07B	1.05B	1.09B	1.00B	996.00M	1.11B	1.15B	1.10B	-	1.15B	1.19B	1.10B	1.23B	1.21B	-
Operating Expenses	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	772.00M	799.00M	787.00M	805.00M	778.00M	-
Operating Income	226.70M	-	160.00M	193.00M	202.00M	-26.00M	145.00M	165.00M	93.00M	142.00M	183.00M	140.00M	216.00M	490.00M	254.00M	286.00M	311.00M	104.00M	296.00M	268.00M	136.00M	182.00M	258.00M	249.00M	294.00M	321.00M	255.00M	282.00M	172.00M	178.00M	304.00M	366.00M	282.00M	-	373.00M	394.00M	311.00M	422.00M	431.00M	-
EBITDA	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	446.00M	428.00M	384.00M	471.00M	507.00M	-
Interest Expense	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	12.00M	21.00M	29.00M	26.00M	26.00M	-
Pretax Income	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	370.00M	354.00M	304.00M	393.00M	433.00M	-
Tax Provision	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	71.00M	14.00M	71.00M	88.00M	99.00M	-
Net Income	192.10M	197.00M	88.00M	160.00M	177.00M	-30.00M	114.00M	153.00M	64.00M	109.00M	146.00M	131.00M	174.00M	-479.00M	283.00M	241.00M	249.00M	103.00M	243.00M	277.00M	77.00M	137.00M	182.00M	202.00M	224.00M	252.00M	214.00M	750.00M	65.00M	149.00M	233.00M	313.00M	248.00M	-	299.00M	340.00M	233.00M	305.00M	334.00M	-
Diluted EPS	0.55	0.59	0.27	0.49	0.56	-0.10	0.39	0.52	0.23	0.38	0.52	0.47	0.63	-1.79	1.05	0.91	0.98	0.42	1.03	1.21	0.35	0.61	0.80	0.88	0.98	1.10	0.96	3.41	0.30	0.69	1.10	1.48	1.17	-	-	1.65	1.15	1.51	1.67	2.03
R&D Expense	230.30M	-	228.00M	229.00M	230.00M	244.00M	216.00M	200.00M	207.00M	200.00M	181.00M	193.00M	194.00M	193.00M	208.00M	211.00M	203.00M	215.00M	209.00M	211.00M	233.00M	212.00M	215.00M	210.00M	216.00M	220.00M	240.00M	243.00M	230.00M	247.00M	262.00M	249.00M	252.00M	257.00M	247.00M	-	242.00M	251.00M	237.00M	-

Profit & Loss (Annual)

Figures in USD.

Metric	Apr 2009	Apr 2010	Apr 2011	Apr 2012	Apr 2013	Apr 2014	Apr 2015	Apr 2016	Apr 2017	Apr 2018	Apr 2019	Apr 2020	Apr 2021	Apr 2022	Apr 2023	Apr 2024	Apr 2025
Revenue	-	-	-	-	-	-	-	-	5.49B	5.92B	6.15B	5.41B	5.74B	6.32B	6.36B	6.27B	6.57B
Cost of Revenue	-	-	-	-	-	-	-	-	-	-	-	-	-	2.10B	2.15B	1.83B	1.96B
Gross Profit	1.99B	2.52B	3.33B	3.71B	3.76B	3.92B	3.83B	3.37B	3.36B	3.71B	3.94B	3.62B	3.81B	4.22B	4.21B	4.43B	4.61B
Operating Expenses	-	-	-	-	-	-	-	-	-	-	-	-	-	3.02B	3.05B	3.17B	3.19B
Operating Income	47.20M	488.40M	824.30M	746.50M	607.80M	734.00M	716.00M	348.00M	621.00M	1.16B	1.22B	945.00M	1.03B	1.20B	1.16B	1.27B	1.43B
EBITDA	-	-	-	-	-	-	-	-	-	-	-	-	-	1.36B	1.38B	1.58B	1.69B
Interest Expense	-	-	-	-	-	-	-	-	-	-	-	-	-	73.00M	67.00M	64.00M	64.00M
Pretax Income	-	-	-	-	-	-	-	-	-	-	-	-	-	1.09B	1.07B	1.26B	1.38B
Tax Provision	-	-	-	-	-	-	-	-	-	-	-	-	-	158.00M	-208.00M	277.00M	197.00M
Net Income	64.60M	400.40M	673.10M	605.40M	505.30M	638.00M	560.00M	229.00M	481.00M	116.00M	1.17B	819.00M	730.00M	937.00M	1.27B	986.00M	1.19B
Diluted EPS	0.19	1.13	1.71	1.58	1.37	1.83	1.75	0.77	1.71	0.42	4.51	3.52	3.23	4.09	5.79	4.63	5.67
R&D Expense	498.50M	535.70M	648.60M	828.20M	904.20M	918.00M	920.00M	861.00M	779.00M	783.00M	827.00M	847.00M	881.00M	881.00M	956.00M	1.03B	1.01B

Compounded Sales Growth

5 Years:	1.32%
1 Year:	12.50%

Compounded Profit Growth

5 Years:	8.17%
1 Year:	23.50%

Stock Price Performance

1 Year:	+79.17%
6 Months:	+57.91%
3 Months:	+76.90%
1 Month:	+60.41%

Balance Sheet (Annual)

Figures in USD.

Metric	Apr 2008	Apr 2009	Apr 2010	Apr 2011	Apr 2012	Apr 2013	Apr 2014	Apr 2015	Apr 2016	Apr 2017	Apr 2018	Apr 2019	Apr 2020	Apr 2021	Apr 2022	Apr 2023	Apr 2024	Apr 2025
Total Assets	-	-	6.49B	8.50B	9.53B	11.24B	9.21B	9.40B	10.04B	9.49B	9.99B	8.74B	7.52B	9.36B	10.03B	9.82B	9.89B	10.82B
Current Assets	-	-	-	-	-	-	-	-	-	-	-	-	-	-	5.95B	4.68B	4.90B	5.85B
Cash & Equivalents	936.50M	1.49B	1.71B	2.76B	1.55B	3.28B	2.29B	1.92B	2.87B	2.44B	2.94B	2.33B	2.66B	4.53B	4.11B	2.32B	1.90B	2.74B
Inventory	-	-	-	-	-	-	-	-	-	-	-	-	-	-	204.00M	167.00M	186.00M	186.00M
Receivables	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1.23B	987.00M	1.01B	1.25B
Total Liabilities	-	-	3.96B	4.65B	5.18B	6.52B	5.43B	5.99B	7.16B	6.71B	7.71B	7.65B	7.28B	8.68B	9.19B	8.66B	8.74B	9.78B
Current Liabilities	-	-	1.91B	3.37B	3.52B	3.83B	2.69B	2.71B	3.66B	4.12B	3.53B	3.87B	3.62B	3.45B	3.95B	3.47B	4.11B	4.66B
Long Term Debt	-	-	-	-	0	994.60M	990.10M	1.49B	1.49B	744.00M	1.54B	1.14B	1.15B	2.63B	2.39B	2.39B	1.99B	2.48B
Total Debt	-	-	-	-	-	-	-	-	-	-	-	-	-	-	2.94B	2.68B	2.65B	3.49B
Total Equity	1.70B	1.78B	2.53B	3.73B	4.29B	4.72B	3.79B	3.41B	2.88B	2.95B	2.28B	1.09B	242.00M	685.00M	838.00M	1.16B	1.15B	1.04B
Shares Outstanding	-	-	-	-	-	-	-	-	-	-	-	-	-	-	220.00M	212.00M	206.38M	201.00M

Cash Flows (Annual)

Figures in USD.

Metric	Apr 2009	Apr 2010	Apr 2011	Apr 2012	Apr 2013	Apr 2014	Apr 2015	Apr 2016	Apr 2017	Apr 2018	Apr 2019	Apr 2020	Apr 2021	Apr 2022	Apr 2023	Apr 2024	Apr 2025
Operating Cash Flow	889.20M	975.00M	1.35B	1.46B	-	-	-	974.00M	986.00M	1.48B	1.34B	1.06B	1.33B	1.21B	1.11B	1.69B	1.51B
Investing Cash Flow	-1.00B	-987.70M	-777.20M	-2.31B	-	-	-	85.00M	-223.00M	-21.00M	704.00M	1.27B	21.00M	-561.00M	-1.39B	-735.00M	147.00M
Financing Cash Flow	696.60M	219.90M	450.90M	-343.60M	-	-	-	-109.00M	-1.18B	-986.00M	-2.63B	-1.96B	444.00M	-1.02B	-1.51B	-1.34B	-828.00M
Capital Expenditure	-289.60M	-135.60M	-222.70M	-407.10M	-303.30M	-221.00M	-175.00M	-160.00M	-175.00M	-145.00M	-173.00M	-124.00M	-162.00M	-226.00M	-239.00M	-155.00M	-168.00M
Free Cash Flow	599.60M	839.40M	1.12B	1.06B	-	-	-	814.00M	811.00M	1.33B	1.17B	936.00M	1.17B	985.00M	868.00M	1.53B	1.34B
Net Change in Cash	-	-	-	-	-	-	-	-	-	-	-	-	-	-367.00M	-1.80B	-394.00M	825.00M
Share Buybacks	400.00M	0	0	600.00M	590.00M	1.88B	1.17B	960.00M	705.00M	794.00M	2.11B	1.41B	125.00M	600.00M	850.00M	900.00M	1.15B
Dividends Paid	-	-	-	0	0	202.00M	208.00M	210.00M	208.00M	214.00M	403.00M	439.00M	427.00M	446.00M	432.00M	416.00M	424.00M

Ratios (Annual)

Figures in %.

Metric	Apr 2009	Apr 2010	Apr 2011	Apr 2012	Apr 2013	Apr 2014	Apr 2015	Apr 2016	Apr 2017	Apr 2018	Apr 2019	Apr 2020	Apr 2021	Apr 2022	Apr 2023	Apr 2024	Apr 2025
Gross Margin %	-	-	-	-	-	-	-	-	61.3%	62.7%	64.2%	66.9%	66.4%	66.8%	66.2%	70.7%	70.2%
Operating Margin %	-	-	-	-	-	-	-	-	11.3%	19.6%	19.9%	17.5%	17.9%	19.0%	18.2%	20.2%	21.7%
Net Margin %	-	-	-	-	-	-	-	-	8.8%	2.0%	19.0%	15.1%	12.7%	14.8%	20.0%	15.7%	18.0%
ROE %	3.6%	15.8%	18.0%	14.1%	10.7%	16.8%	16.4%	7.9%	16.3%	5.1%	107.2%	338.4%	106.6%	111.8%	109.9%	86.0%	114.0%
ROCE %	-	10.7%	16.1%	12.4%	8.2%	11.3%	10.7%	5.5%	11.6%	17.9%	25.1%	24.2%	17.5%	19.8%	18.2%	21.9%	23.1%

Shareholding Pattern

Insiders

0.59%

Institutions

105.09%

Public Float

105.71%

Top Institutional Holders

#	Holder	% Held	Shares	Value
1	Blackrock Inc.	10.09%	19.91M	$3.47B
2	Vanguard Portfolio Management LLC	6.41%	12.65M	$2.21B
3	Vanguard Capital Management LLC	6.33%	12.49M	$2.18B
4	State Street Corporation	5.08%	10.02M	$1.75B
5	Primecap Management Company	4.59%	9.06M	$1.58B
6	Geode Capital Management, LLC	3.27%	6.44M	$1.12B
7	Ameriprise Financial, Inc.	3.04%	6.00M	$1.05B
8	Wellington Management Group, LLP	2.37%	4.67M	$814.06M
9	UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC	2.06%	4.06M	$707.68M
10	Invesco Ltd.	1.97%	3.89M	$678.33M

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NTAP · Technology

NetApp, Inc.

About

Key Facts

Sector	Technology
Industry	Software - Infrastructure
Headquarters	United States
Website	https://www.netapp.com

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NetApp, Inc. NTAP SPX

Market & Price

Valuation

Profitability & Returns

Balance Sheet & Liquidity

Ownership

Financial Snapshot

Growth (CAGR)

PROS

CONS

Price Chart

Technical Trend

Fundamental Growth

Peer comparison

Quarterly Results

Profit & Loss (Annual)

Compounded Sales Growth

Compounded Profit Growth

Stock Price Performance

Balance Sheet (Annual)

Cash Flows (Annual)

Ratios (Annual)

Shareholding Pattern

Top Institutional Holders

Analyst View

Latest News

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