NetApp, Inc.
NTAP Technology Software Infrastructure
In the quarter to July 2026, revenue grew 29.9%, EPS grew 64.7%, free cash flow fell 35.3% and total debt was flat, each against the same quarter a year earlier. Member of the S&P 500; dividend growth for ten consecutive years.
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NetApp, Inc. (NTAP) Gross margin
NetApp, Inc.'s gross margin over the twelve months to 31 July 2026 was 70.6%, down 0.1 percentage points from fiscal 2026 (70.7%). Over the past ten years it has ranged from 60.8% (fiscal 2016) to 70.7% (fiscal 2026) — the current reading is the highest in ten years. That is above the Software Infrastructure industry median of 61.0% and above the Technology sector median of 47.2%.
Gross margin, annual
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Annual newest first
| Period | Gross margin | Change (points) |
|---|---|---|
| FY2026 | 70.7% | 0.55 |
| FY2025 | 70.2% | (0.53) |
| FY2024 | 70.7% | 4.56 |
| FY2023 | 66.2% | (0.63) |
| FY2022 | 66.8% | 0.37 |
| FY2021 | 66.4% | (0.52) |
| FY2020 | 66.9% | 2.75 |
| FY2019 | 64.2% | 1.53 |
| FY2018 | 62.7% | 1.40 |
| FY2017 | 61.3% | 0.44 |
Quarterly newest first
| Period | Gross margin | Change (points) |
|---|---|---|
| Jul 2026 | 70.1% | 0.00 |
| Apr 2026 | 70.1% | (0.51) |
| Jan 2026 | 70.6% | (1.38) |
| Oct 2025 | 72.0% | 1.53 |
| 43 more quarters | Free account |
Against its own ten years
Gross margin against peers
| Company | Gross margin |
|---|---|
| VRSN VeriSign, Inc. compare | 88.5% |
| OKTA Okta, Inc. compare | 78.1% |
| ZS Zscaler, Inc. compare | 76.8% |
| NBIS Nebius Group N.V. compare | 74.3% |
| MDB MongoDB, Inc. compare | 72.7% |
| NTAP NetApp, Inc. | 70.6% |
| CRWV CoreWeave Inc. compare | 67.4% |
| TWLO Twilio Inc. compare | 48.5% |
| XYZ Block, Inc. compare | 46.4% |
| Software Infrastructure industry median | 61.0% |
| Technology sector median | 47.2% |
| Market median | 46.2% |
What Gross margin is
Gross Margin tells an investor how much of each sale a company keeps after paying the direct costs of making or buying what it sells.
Gross Profit ÷ Revenue
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