NTGR · Netgear, 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 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Revenue | $699.62M | $673.76M | $740.84M | $932.47M | $1.17B | $1.26B |
| Cost of Revenue | $433.43M | $477.83M | $491.59M | $681.92M | $802.24M | $883.05M |
| Gross Profit | $266.19M | $195.93M | $249.25M | $250.55M | $365.84M | $372.15M |
| R&D | $85.72M | $81.08M | $83.30M | $88.44M | $92.97M | $88.79M |
| SG&A | $78.92M | $63.47M | $66.24M | $56.32M | $59.66M | $61.15M |
| Total Operating Expenses | $300.34M | $183.71M | $282.53M | $333.47M | $299.24M | $296.61M |
| D&A | $8.00M | $6.51M | $7.16M | $10.07M | $13.91M | $18.93M |
| Operating Income | ($34.15M) | $12.22M | ($33.27M) | ($82.92M) | $66.60M | $75.54M |
| Interest Expense | - | - | - | - | - | - |
| Income Tax | $1.15M | $12.53M | $85.63M | ($13.04M) | $16.12M | $12.51M |
| Net Income | ($17.92M) | $12.36M | ($104.77M) | ($68.99M) | $49.39M | $58.29M |
| EPS - Basic | ($0.63) | $0.43 | ($3.57) | ($2.38) | $1.63 | $1.95 |
| EPS - Diluted | ($0.63) | $0.42 | ($3.57) | ($2.38) | $1.59 | $1.90 |
Balance Sheet
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $209.90M | $286.44M | $176.72M | $146.50M | $263.77M | $346.46M |
| Accounts Receivable | $142.04M | $156.21M | $185.06M | $277.49M | $261.16M | $337.05M |
| Inventory | $176.46M | $162.54M | $248.85M | $299.61M | $315.67M | $172.11M |
| Accounts Payable | $43.75M | $58.48M | $46.85M | $85.55M | $73.73M | $90.90M |
| Current Assets | $673.28M | $758.03M | $747.98M | $834.29M | $883.09M | $893.18M |
| Total Assets | $836.27M | $850.23M | $847.14M | $1.02B | $1.08B | $1.11B |
| Current Liabilities | $250.22M | $270.08M | $264.35M | $345.97M | $341.05M | $365.07M |
| Long-term Debt | - | - | - | - | - | - |
| Total Liabilities | $338.45M | $309.16M | $311.65M | $398.93M | $381.72M | $416.65M |
| Stockholders' Equity | $497.82M | $541.07M | $535.50M | $620.86M | $696.82M | $689.38M |
| Retained Earnings | ($538.95M) | ($457.12M) | ($432.32M) | ($324.76M) | ($226.59M) | ($193.32M) |
Cash Flow
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Operating Cash Flow | $1.61M | $164.80M | $56.85M | ($13.73M) | ($4.58M) | $181.15M |
| Investing Cash Flow | ($22.64M) | ($26.16M) | ($27.43M) | ($79.52M) | ($9.98M) | ($16.84M) |
| Financing Cash Flow | ($55.51M) | ($28.91M) | $797.0K | ($24.02M) | ($68.12M) | ($8.06M) |
| CapEx | $20.52M | $8.99M | $5.80M | $5.76M | $9.86M | $10.30M |
| Free Cash Flow | ($18.91M) | $155.80M | $51.05M | ($19.49M) | ($14.44M) | $170.85M |
Ratios
| Metric | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Profitability | ||||||
| Gross margin | 38.0% | 29.1% | 33.6% | 26.9% | 31.3% | 29.6% |
| Operating margin | -4.9% | 1.8% | -4.5% | -8.9% | 5.7% | 6.0% |
| EBITDA margin | -3.7% | 2.8% | -3.5% | -7.8% | 6.9% | 7.5% |
| Net margin | -2.6% | 1.8% | -14.1% | -7.4% | 4.2% | 4.6% |
| Free cash flow margin | -2.7% | 23.1% | 6.9% | -2.1% | -1.2% | 13.6% |
| FCF / Net income | 1.06 | 12.60 | -0.49 | 0.28 | -0.29 | 2.93 |
| R&D / Revenue | 12.3% | 12.0% | 11.2% | 9.5% | 8.0% | 7.1% |
| SG&A / Revenue | 11.3% | 9.4% | 8.9% | 6.0% | 5.1% | 4.9% |
| Effective tax rate | - | 50.3% | - | - | 24.6% | 17.7% |
| Return on assets | -2.1% | 1.5% | -12.4% | -6.8% | 4.6% | 5.3% |
| Return on equity | -3.6% | 2.3% | -19.6% | -11.1% | 7.1% | 8.5% |
| Return on invested capital | - | - | - | - | - | - |
| Liquidity | ||||||
| Current ratio | 2.69 | 2.81 | 2.83 | 2.41 | 2.59 | 2.45 |
| Quick ratio | 1.99 | 2.20 | 1.89 | 1.55 | 1.66 | 1.98 |
| Cash ratio | 0.84 | 1.06 | 0.67 | 0.42 | 0.77 | 0.95 |
| Leverage | ||||||
| Debt / Equity | - | - | - | - | - | - |
| Debt / Assets | - | - | - | - | - | - |
| Debt / EBITDA | - | - | - | - | - | - |
| Interest coverage | - | - | - | - | - | - |
| Equity multiplier | 1.68 | 1.57 | 1.58 | 1.64 | 1.55 | 1.60 |
| Liabilities / Assets | 0.40 | 0.36 | 0.37 | 0.39 | 0.35 | 0.38 |
| Efficiency | ||||||
| Asset turnover | 0.84 | 0.79 | 0.87 | 0.91 | 1.08 | 1.13 |
| Inventory turnover | 2.46 | 2.94 | 1.98 | 2.28 | 2.54 | 5.13 |
| Days sales outstanding | 74d | 85d | 91d | 109d | 82d | 98d |
| Days inventory outstanding | 149d | 124d | 185d | 160d | 144d | 71d |
| Days payable outstanding | 37d | 45d | 35d | 46d | 34d | 38d |
| Cash conversion cycle | 186d | 164d | 241d | 223d | 192d | 132d |
| Valuation | ||||||
| P / E | - | 66.4x | - | - | 18.4x | 21.4x |
| P / B | 1.4x | 1.5x | 0.8x | 0.8x | 1.3x | 1.8x |
| P / S | 1.0x | 1.2x | 0.6x | 0.6x | 0.8x | 1.0x |
| EV / EBITDA | - | 28.9x | - | - | 8.0x | 9.5x |
| Growth | ||||||
| Revenue growth (YoY) | 3.8% | -9.1% | -20.6% | -20.2% | -6.9% | 25.7% |
| Revenue CAGR (3y) | -9.1% | -16.8% | -16.1% | -2.3% | 0.7% | -3.7% |
| Revenue CAGR (5y) | -11.0% | -7.6% | -8.3% | -7.9% | -2.5% | -0.7% |
| Gross profit growth (YoY) | 35.9% | -21.4% | -0.5% | -31.5% | -1.7% | 26.5% |
| Operating income growth (YoY) | - | - | 59.9% | - | -11.8% | 188.5% |
| Net income growth (YoY) | - | - | -51.9% | - | -15.3% | 126.0% |
| EPS growth (YoY) | - | - | -50.0% | - | -16.3% | 134.6% |
| EPS CAGR (3y) | - | -35.8% | - | - | - | 47.7% |
| EPS CAGR (5y) | - | -12.3% | - | - | -6.7% | 5.7% |
| FCF growth (YoY) | - | 205.2% | - | -34.9% | - | - |
| FCF CAGR (5y) | - | - | - | - | - | 12.1% |
| Book value growth (YoY) | -8.0% | 1.0% | -13.7% | -10.9% | 1.1% | 13.3% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-12-31.
Business segments
$699.62M totalConsumer$357.59M · 51.1%
Enterprise$342.03M · 48.9%
Geographic
$902.05M totalUS$461.87M · 51.2%
Americas$176.79M · 19.6%
EMEA$106.19M · 11.8%
Asia Pacific$84.00M · 9.3%
APAC$59.04M · 6.5%
Americas Excluding United States$14.15M · 1.6%
Stability scores
Altman Z′
FY 2025 · bankruptcy risk
1.14
Distress
Private-firm variant - uses book equity instead of market cap. > 2.90 safe · 1.23-2.90 grey · < 1.23 distress.
Piotroski F-score
FY 2025 · 9-point quality
5/9
Neutral
- ✗Net income positive
- ✓Operating cash flow positive
- ✗ROA improved YoY
- ✓Cash flow > net income
- -Long-term debt decreased
- ✗Current ratio improved
- ✓No share dilution
- ✓Gross margin improved
- ✓Asset turnover improved
Peer comparison
Same SIC group: Telephone & Telegraph Apparatus
Comparing NETGEAR against the 5 most active filers in the same SIC group.