NTAP · Netapp, Inc. - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | Q3 '26 | Q2 '25 | Q1 '25 | Q3 '25 | Q2 '24 | Q3 '24 | Q1 '24 | Q2 '23 | Q3 '23 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.71B | $1.71B | $1.56B | $1.64B | $1.56B | $1.61B | $1.43B | $1.66B | $1.53B | $1.59B |
| Cost of Revenue | $504.00M | $478.00M | $461.00M | $496.00M | $452.00M | $455.00M | $436.00M | $576.00M | $525.00M | $546.00M |
| Gross Profit | $1.21B | $1.23B | $1.10B | $1.15B | $1.11B | $1.15B | $996.00M | $1.09B | $1.00B | $1.05B |
| R&D | $237.00M | $251.00M | $242.00M | $247.00M | $262.00M | $249.00M | $247.00M | $243.00M | $230.00M | $240.00M |
| SG&A | $86.00M | $89.00M | $84.00M | $74.00M | $75.00M | $81.00M | $74.00M | $67.00M | $59.00M | $72.00M |
| Total Operating Expenses | $775.00M | $828.00M | $789.00M | $783.00M | $806.00M | $785.00M | $818.00M | $805.00M | $829.00M | $791.00M |
| D&A | - | - | $51.00M | - | - | - | $64.00M | - | - | $58.00M |
| Operating Income | $434.00M | $399.00M | $309.00M | $362.00M | $304.00M | $366.00M | $178.00M | $282.00M | $172.00M | $255.00M |
| Interest Expense | $26.00M | $26.00M | $29.00M | ($17.00M) | $15.00M | $17.00M | $16.00M | $17.00M | $16.00M | $18.00M |
| Income Tax | $99.00M | $88.00M | $71.00M | $71.00M | $82.00M | $69.00M | $37.00M | ($445.00M) | $112.00M | $56.00M |
| Net Income | $334.00M | $305.00M | $233.00M | $313.00M | $233.00M | $313.00M | $149.00M | $750.00M | $65.00M | $214.00M |
| EPS - Basic | $1.69 | $1.53 | $1.16 | $1.47 | $1.12 | $1.52 | $0.70 | $3.46 | $0.30 | $0.97 |
| EPS - Diluted | $1.67 | $1.51 | $1.15 | $1.44 | $1.10 | $1.48 | $0.69 | $3.41 | $0.30 | $0.96 |
Balance Sheet
| Line item | Q3 '26 | Q2 '25 | Q1 '25 | Q3 '25 | Q2 '24 | Q3 '24 | Q1 '24 | Q2 '23 | Q3 '23 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $1.63B | $2.07B | $2.08B | $1.51B | $1.90B | $1.82B | $2.02B | $2.32B | $2.64B | $3.29B |
| Accounts Receivable | $1.31B | $988.00M | $787.00M | $898.00M | $1.01B | $787.00M | $653.00M | $987.00M | $821.00M | $865.00M |
| Inventory | $109.00M | $127.00M | $133.00M | $268.00M | $186.00M | $131.00M | $131.00M | $167.00M | $175.00M | $232.00M |
| Accounts Payable | $413.00M | $436.00M | $404.00M | $434.00M | $517.00M | $396.00M | $344.00M | $392.00M | $432.00M | $515.00M |
| Current Assets | $5.00B | $4.65B | $4.69B | $3.91B | $4.90B | $4.33B | $4.16B | $4.68B | $4.54B | $4.92B |
| Total Assets | $9.97B | $9.63B | $9.68B | $8.99B | $9.89B | $9.37B | $9.27B | $9.82B | $9.71B | $9.54B |
| Current Liabilities | $3.59B | $3.47B | $3.57B | $4.20B | $4.11B | $3.77B | $3.25B | $3.47B | $3.39B | $3.58B |
| Long-term Debt | $2.49B | $2.49B | $2.48B | $1.24B | $1.99B | $1.99B | $2.39B | $2.39B | $2.39B | $2.39B |
| Total Liabilities | $8.81B | $8.64B | $8.70B | $7.99B | $8.74B | $8.38B | $8.40B | $8.66B | $8.61B | $8.89B |
| Stockholders' Equity | $1.16B | $986.00M | $975.00M | $995.00M | $1.15B | $994.00M | $873.00M | $1.16B | $1.10B | $657.00M |
| Retained Earnings | $40.00M | $0 | $0 | $0 | $208.00M | $115.00M | $0 | $265.00M | $268.00M | $0 |
Cash Flow
| Line item | Q3 '26 | Q2 '25 | Q1 '25 | Q3 '25 | Q2 '24 | Q3 '24 | Q1 '24 | Q2 '23 | Q3 '23 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | - | - | $673.00M | - | - | - | $453.00M | - | - | $281.00M |
| Investing Cash Flow | - | - | ($181.00M) | - | - | - | ($228.00M) | - | - | ($628.00M) |
| Financing Cash Flow | - | - | ($1.16B) | - | - | - | ($521.00M) | - | - | ($459.00M) |
| CapEx | - | - | $53.00M | - | - | - | $35.00M | - | - | $65.00M |
| Free Cash Flow | - | - | $620.00M | - | - | - | $418.00M | - | - | $216.00M |
Ratios
| Metric | Q3 '26 | Q2 '25 | Q1 '25 | Q3 '25 | Q2 '24 | Q3 '24 | Q1 '24 | Q2 '23 | Q3 '23 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Profitability | ||||||||||
| Gross margin | 70.6% | 72.0% | 70.4% | 69.8% | 71.1% | 71.7% | 69.6% | 65.4% | 65.6% | 65.7% |
| Operating margin | 25.3% | 23.4% | 19.8% | 22.1% | 19.5% | 22.8% | 12.4% | 17.0% | 11.3% | 16.0% |
| EBITDA margin | - | - | 23.1% | - | - | - | 16.9% | - | - | 19.7% |
| Net margin | 19.5% | 17.9% | 14.9% | 19.1% | 14.9% | 19.5% | 10.4% | 45.1% | 4.3% | 13.4% |
| Free cash flow margin | - | - | 39.8% | - | - | - | 29.2% | - | - | 13.6% |
| FCF / Net income | - | - | 2.66 | - | - | - | 2.81 | - | - | 1.01 |
| R&D / Revenue | 13.8% | 14.7% | 15.5% | 15.1% | 16.8% | 15.5% | 17.2% | 14.6% | 15.1% | 15.1% |
| SG&A / Revenue | 5.0% | 5.2% | 5.4% | 4.5% | 4.8% | 5.0% | 5.2% | 4.0% | 3.9% | 4.5% |
| Effective tax rate | 22.9% | 22.4% | 23.4% | 18.5% | 26.0% | 18.1% | 19.9% | -145.9% | 63.3% | 20.7% |
| Return on assets | 3.3% | 3.2% | 2.4% | 3.5% | 2.4% | 3.3% | 1.6% | 7.6% | 0.7% | 2.2% |
| Return on equity | 28.8% | 30.9% | 23.9% | 31.5% | 20.3% | 31.5% | 17.1% | 64.7% | 5.9% | 32.6% |
| Return on invested capital | 9.2% | 8.9% | 6.8% | 13.2% | 7.2% | 10.0% | 4.4% | 7.9% | 2.5% | 6.6% |
| Liquidity | ||||||||||
| Current ratio | 1.39 | 1.34 | 1.31 | 0.93 | 1.19 | 1.15 | 1.28 | 1.35 | 1.34 | 1.38 |
| Quick ratio | 1.36 | 1.30 | 1.28 | 0.87 | 1.15 | 1.11 | 1.24 | 1.30 | 1.29 | 1.31 |
| Cash ratio | 0.45 | 0.60 | 0.58 | 0.36 | 0.46 | 0.48 | 0.62 | 0.67 | 0.78 | 0.92 |
| Leverage | ||||||||||
| Debt / Equity | 2.15 | 2.52 | 2.55 | 1.25 | 1.74 | 2.00 | 2.74 | 2.06 | 2.17 | 3.63 |
| Debt / Assets | 0.25 | 0.26 | 0.26 | 0.14 | 0.20 | 0.21 | 0.26 | 0.24 | 0.25 | 0.25 |
| Debt / EBITDA | - | - | 6.90 | - | - | - | 9.88 | - | - | 7.63 |
| Interest coverage | 16.7x | 15.3x | 10.7x | -21.3x | 20.3x | 21.5x | 11.1x | 16.6x | 10.8x | 14.2x |
| Equity multiplier | 8.61 | 9.77 | 9.93 | 9.03 | 8.63 | 9.43 | 10.62 | 8.47 | 8.81 | 14.53 |
| Liabilities / Assets | 0.88 | 0.90 | 0.90 | 0.89 | 0.88 | 0.89 | 0.91 | 0.88 | 0.89 | 0.93 |
| Efficiency | ||||||||||
| Asset turnover | 0.17 | 0.18 | 0.16 | 0.18 | 0.16 | 0.17 | 0.15 | 0.17 | 0.16 | 0.17 |
| Inventory turnover | 4.62 | 3.76 | 3.47 | 1.85 | 2.43 | 3.47 | 3.33 | 3.45 | 3.00 | 2.35 |
| Days sales outstanding | 280d | 212d | 184d | 200d | 235d | 179d | 166d | 217d | 196d | 198d |
| Days inventory outstanding | 79d | 97d | 105d | 197d | 150d | 105d | 110d | 106d | 122d | 155d |
| Days payable outstanding | 299d | 333d | 320d | 319d | 417d | 318d | 288d | 248d | 300d | 344d |
| Cash conversion cycle | 60d | -24d | -30d | 78d | -32d | -34d | -12d | 74d | 18d | 9d |
| Valuation | ||||||||||
| P / E | 58.3x | 77.2x | 91.3x | 87.5x | 92.1x | 59.5x | 111.9x | 18.4x | 218.5x | 74.3x |
| P / B | 16.8x | 23.9x | 21.8x | 26.3x | 18.7x | 18.7x | 19.1x | 11.9x | 13.0x | 24.3x |
| P / S | 11.4x | 13.8x | 13.7x | 16.0x | 13.7x | 11.6x | 11.7x | 8.3x | 9.4x | 10.0x |
| EV / EBITDA | - | - | 60.3x | - | - | - | 70.5x | - | - | 48.2x |
| Growth | ||||||||||
| Revenue growth (YoY) | 4.4% | 9.2% | 8.9% | 2.2% | -6.1% | 5.2% | -10.1% | 6.2% | -5.5% | 9.2% |
| Revenue CAGR (3y) | 3.9% | 2.9% | 2.3% | 0.6% | 3.3% | 3.0% | 3.2% | 6.6% | 2.8% | 8.8% |
| Revenue CAGR (5y) | 3.1% | 4.5% | 4.8% | 3.2% | 0.6% | 0.9% | -0.6% | 3.2% | 0.0% | 3.7% |
| Gross profit growth (YoY) | 5.6% | 10.5% | 10.2% | -0.5% | 2.1% | 15.0% | -4.8% | 2.6% | -6.7% | 4.7% |
| Operating income growth (YoY) | 19.9% | 31.3% | 73.6% | -1.1% | 7.8% | 112.8% | -30.2% | -4.1% | -46.4% | 2.4% |
| Net income growth (YoY) | 6.7% | 30.9% | 56.4% | 0.0% | -68.9% | 381.5% | -30.4% | 234.8% | -74.2% | 177.9% |
| EPS growth (YoY) | 16.0% | 37.3% | 66.7% | -2.7% | -67.7% | 393.3% | -28.1% | 248.0% | -72.7% | 9.1% |
| EPS CAGR (3y) | 77.2% | 15.5% | 9.3% | 9.4% | 21.7% | 22.8% | 25.4% | 49.0% | -37.2% | 31.7% |
| EPS CAGR (5y) | 15.9% | 8.0% | 22.3% | 3.5% | 3.9% | 8.6% | -8.1% | 39.7% | - | 14.4% |
| FCF growth (YoY) | - | - | 48.3% | - | - | - | 93.5% | - | - | 14.9% |
| FCF CAGR (5y) | - | - | 17.4% | - | - | - | 9.8% | - | - | 0.2% |
| Book value growth (YoY) | 16.4% | -14.0% | 11.7% | 0.1% | -1.1% | -9.8% | 32.9% | 38.3% | 24.9% | -8.8% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-04-25.
Business segments
$6.57B totalHybrid Cloud Segment$5.91B · 89.9%
Public Cloud Segment$665.00M · 10.1%
Product / service
$10.10B totalService$3.53B · 35.0%
Product$3.04B · 30.1%
Support$2.51B · 24.9%
Public Cloud$665.00M · 6.6%
Professional And Other Services$355.00M · 3.5%
Geographic
$9.66B totalAmericas$3.35B · 34.6%
US$3.09B · 32.0%
EMEA$2.20B · 22.8%
Asia Pacific$1.02B · 10.6%
Peer comparison
Same SIC group: Computer Storage Devices
Comparing NetApp against the 5 most active filers in the same SIC group.
Dividends
$2.08/share trailing 12 months · 0.0% YoY
| Ex-date | Per share |
|---|---|
| Apr 2, 2026 | $0.5200 |
| Jan 2, 2026 | $0.5200 |
| Oct 3, 2025 | $0.5200 |
| Jul 3, 2025 | $0.5200 |
| Apr 4, 2025 | $0.5200 |
| Jan 3, 2025 | $0.5200 |
| Oct 4, 2024 | $0.5200 |
| Jul 5, 2024 | $0.5200 |
| Apr 4, 2024 | $0.5000 |
| Jan 4, 2024 | $0.5000 |
| Oct 5, 2023 | $0.5000 |
| Jul 6, 2023 | $0.5000 |
| Apr 5, 2023 | $0.5000 |
| Jan 5, 2023 | $0.5000 |
| Oct 6, 2022 | $0.5000 |
| Jul 7, 2022 | $0.5000 |
| Apr 7, 2022 | $0.5000 |
| Jan 6, 2022 | $0.5000 |
| Oct 7, 2021 | $0.5000 |
| Jul 8, 2021 | $0.5000 |
| Apr 8, 2021 | $0.4800 |
| Jan 7, 2021 | $0.4800 |
| Oct 8, 2020 | $0.4800 |
| Jul 9, 2020 | $0.4800 |