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) Operating margin
NetApp, Inc.'s operating margin over the twelve months to 31 July 2026 was 25.0%, up 0.8 percentage points from fiscal 2026 (24.2%). Over the past ten years it has ranged from 6.27% (fiscal 2016) to 24.2% (fiscal 2026) — the current reading is the highest in ten years. That is above the Software Infrastructure industry median of 0.00% and above the Technology sector median of 0.00%.
Operating margin, annual
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Annual newest first
| Period | Operating margin | Change (points) |
|---|---|---|
| FY2026 | 24.2% | 3.83 |
| FY2025 | 20.3% | 0.97 |
| FY2024 | 19.4% | 3.37 |
| FY2023 | 16.0% | (2.31) |
| FY2022 | 18.3% | 0.36 |
| FY2021 | 18.0% | 0.49 |
| FY2020 | 17.5% | (2.41) |
| FY2019 | 19.9% | 0.31 |
| FY2018 | 19.6% | 8.25 |
| FY2017 | 11.3% | 5.04 |
Quarterly newest first
| Period | Operating margin | Change (points) |
|---|---|---|
| Jul 2026 | 23.9% | (3.41) |
| Apr 2026 | 27.3% | 1.97 |
| Jan 2026 | 25.3% | 1.94 |
| Oct 2025 | 23.4% | 3.58 |
| 43 more quarters | Free account |
Against its own ten years
Operating margin against peers
| Company | Operating margin |
|---|---|
| VRSN VeriSign, Inc. compare | 67.9% |
| NTAP NetApp, Inc. | 25.0% |
| OKTA Okta, Inc. compare | 7.55% |
| TWLO Twilio Inc. compare | 5.20% |
| XYZ Block, Inc. compare | 4.67% |
| MDB MongoDB, Inc. compare | −0.52% |
| CRWV CoreWeave Inc. compare | −3.04% |
| ZS Zscaler, Inc. compare | −3.98% |
| NBIS Nebius Group N.V. compare | −50.5% |
| Software Infrastructure industry median | 0.00% |
| Technology sector median | 0.00% |
| Market median | 0.00% |
What Operating margin is
EBIT Margin tells an investor how much operating profit, before interest and taxes, a company keeps from each unit of revenue.
EBIT ÷ Revenue
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- Revenue
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- EV/EBITDA
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