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Saturday 17 October 2026 Export NTAP’s income statement to Excel — free account

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.

203.80 10.90 −5.08%
Market cap
$42.2B
P/E
28.4×
Fwd P/E
23.4×
Dividend yield
1.02%
F-score
9/9
Altman Z
2.78
Beneish M
−2.74
Dividend safety
93/100
Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios Filings 10-Q 10-K

Insider Decisions trades per month

Total sells 45.25
Totals in millions of $.
Dec 25 Mar 26 Jun 26 Sep 26
Buy — — — — — — — — — — — —
Sell 2 2 1 2 1 1 2 4 1 2 7 4
Insider Ownership 0.12%

Capital & Financial Ratios $m

Market Cap 42,170.00
Revenue 7,391.00
Net Income 1,418.00
Free Cash Flow 1,650.00
Net Debt (1,088.00)
Current Ratio 1.24
Debt/Equity 1.66
P/E ratio 28.38
Fwd P/E 23.40
P/S ratio 5.40
P/B ratio 26.72 (above 6: high)
Past 5Y EPS Growth 14.48%
This Y EPS Growth 22.99% (at or above 15%: strong)
Next Y EPS Growth 11.32%
Next Y revenue growth 18.14% (at or above 10%: strong)
Next 5Y EPS Growth 15.38% (at or above 15%: strong)

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 5.3×, against a ten-year median of 2.4×; over the ten years it ranged from 0.5× in 2016 to 5.4× in 2026.
P/E against its own 10 years 82.88%
10-year low 10-year high
P/S against its own 10 years 99.34%
10-year low 10-year high
P/B against its own 10 years 80.39%
10-year low 10-year high
EV/Sales against its own 10 years 99.34%
10-year low 10-year high
EV/FCF against its own 10 years 99.34%
10-year low 10-year high

Dividends

Payout Ratio 0.29
Annual Dividend Rate 2.08
Annual Dividend Yield 1.02%
total individual payouts
2029 Powerpack
2028 Powerpack
2027 Powerpack
2026 2.08
0.52
0.52
0.52
0.52
2025 2.08
0.52
0.52
0.52
0.52
2024 2.04
0.50
0.50
0.52
0.52
2023 2.00
0.50
0.50
0.50
0.50
2022 2.00
0.50
0.50
0.50
0.50
2021 1.96
0.48
0.48
0.50
0.50
2020 1.92
0.48
0.48
0.48
0.48
2019 1.76
0.40
0.40
0.48
0.48
2018 1.20
0.20
0.20
0.40
0.40
2017 0.78
0.19
0.19
0.20
0.20
2016 0.74
0.18
0.18
0.19
0.19
predictions special payouts not included in total or ratios

Assets vs Liabilities $m

2024 2025 2026 Q'26
Cash 3,252 3,846 3,584 3,576
Receivables 1,007 1,246 1,286 966
Inventory 186 186 198 375
Other 452 573 708 755
4,897 5,851 5,776 5,672
2024 2025 2026 Q'26
Payables 517 511 550 566
ST’ Debt 400 750 — 550
Other — — — —
4,106 4,662 4,021 4,568

Compound Annual Growth %

10y 5y 3y
Sales 2.25% 3.81% 2.87%
Cash Flow 7.81% 9.17% 23.14%
Earnings 18.74% 11.82% 0.05%
Book Value (7.29%) 14.55% 5.24%

Revenue $m

Jul Oct Jan Apr Year
’26 2,025 — — — —
’26 1,559 1,705 1,713 1,948 6,925
’25 1,541 1,658 1,641 1,732 6,572
’24 1,432 1,562 1,606 1,668 6,268
’23 1,592 1,663 1,526 1,581 6,362
’22 1,458 1,566 1,614 1,680 6,318
’21 1,303 1,416 1,470 1,555 5,744
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Jul Oct Jan Apr Year
’26 503 — — — —
’26 673 127 317 950 2,067
’25 341 105 385 675 1,506
’24 453 135 484 613 1,685
’23 281 214 377 235 1,107
’22 242 298 260 411 1,211
’21 240 161 373 559 1,333
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Jul Oct Jan Apr Year
’26 401 — — — —
’26 620 78 271 900 1,869
’25 300 60 338 640 1,338
’24 418 97 448 567 1,530
’23 216 137 319 196 868
’22 191 252 199 343 985
’21 194 121 341 886 1,542
Fiscal quarters ending in the months shown.

EPS $

Jul Oct Jan Apr Year
’26 1.88 — — — —
’26 1.15 1.51 1.67 2.03 6.35
’25 1.17 1.42 1.44 1.65 5.67
’24 0.69 1.10 1.48 1.37 4.63
’23 0.96 3.41 0.30 1.13 5.79
’22 0.88 0.98 1.10 1.14 4.09
’21 0.35 0.61 0.80 1.46 3.23
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

2.4
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to April

Group Line 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 Trend 2027e 2028e 2029e
Price, $
Price, $ Low 35.08 52.00 44.55 34.66 58.83 58.08 59.73 83.62 71.84 93.69

Analyst estimates 2027–2029

Powerpack
High 58.99 88.08 78.35 67.63 94.69 96.82 91.78 135.45 127.78 240.87
People
People Employees 10,100 10,300 10,500 10,800 11,000 12,000 12,000 11,800 11,700 11,700
Revenue/emp, $m 0.54 0.57 0.59 0.50 0.52 0.53 0.53 0.53 0.56 0.59
Income, $m
Income, $m Revenue 5,491 5,919 6,146 5,412 5,744 6,318 6,362 6,268 6,572 6,925
Gross margin, % 61.26 62.66 64.19 66.94 66.42 66.79 66.16 70.72 70.19 70.74
EBT 621 1,199 1,268 944 962 1,095 1,066 1,263 1,383 1,648
EBT margin, % 11.31 20.26 20.63 17.44 16.75 17.33 16.76 20.15 21.04 23.80
Net income 481 116 1,169 819 730 937 1,274 986 1,186 1,276
Depreciation 226 198 197 193 207 194 248 255 243 200
Per share, $
Per share, $ Revenue 19.97 22.09 24.20 23.53 25.87 28.33 29.32 30.13 32.22 34.80
Earnings 1.85 0.43 4.60 3.56 3.29 4.20 5.87 4.74 5.81 6.41
Cash flow 3.59 5.51 5.28 4.61 6.00 5.43 5.10 8.10 7.38 10.39
Capex (0.64) 0.24 (0.68) (0.12) 0.94 (1.01) (1.10) (0.75) (0.82) (0.99)
Free cash flow 2.95 5.76 4.60 4.49 6.95 4.42 4.00 7.36 6.56 9.39
Book value 10.11 8.49 4.29 1.05 3.09 3.76 5.34 5.51 5.10 6.79
Shares, m 275 268 254 230 222 223 217 208 204 199
Valuation, ×
Valuation, × P/E 21.71 237.79 15.73 12.23 22.70 17.58 10.83 21.52 15.45 17.23
P/S 2.01 3.01 3.01 1.86 2.89 2.61 2.17 3.39 2.79 3.18
P/B 3.97 7.84 16.98 41.60 24.21 19.69 11.92 18.55 17.60 16.32
EV/Sales 1.39 2.49 2.63 1.65 2.55 2.37 2.07 3.25 2.69 3.13
EV/FCF 9.39 9.56 13.83 8.63 9.51 15.23 15.19 13.33 13.23 11.61
Cash, $m
Cash, $m Operating cash flow 986 1,478 1,341 1,060 1,333 1,211 1,107 1,685 1,506 2,067
Capex (175) 65 (173) (28) 209 (226) (239) (155) (168) (198)
Free cash flow 811 1,543 1,168 1,032 1,542 985 868 1,530 1,338 1,869
Balance, $m
Balance, $m Working capital 2,076 3,421 1,743 658 2,549 1,992 1,213 791 1,189 1,755
Total debt 1,493 1,926 1,544 1,719 2,681 2,636 2,436 2,392 3,235 2,487
Net debt (3,428) (3,465) (2,355) (1,163) (1,915) (1,498) (634) (860) (611) (1,097)
Shareholders’ equity 2,780 2,276 1,090 242 685 838 1,159 1,146 1,040 1,351
Returns, %
Returns, % ROA 4.93 1.19 12.48 10.07 8.65 9.67 12.84 10.01 11.45 11.83
ROIC 0.00 0.00 0.00 0.00 0.00 0.00 121.19 265.30 194.78 411.91
ROE 16.99 4.59 69.46 122.97 157.50 123.05 127.59 85.55 108.51 106.73
Negative figures in brackets.

All 10 years →

Fiscal years to Apr 2026 · latest quarter Jul 2026

Charts ten years each

NetApp, Inc. vs peers in Software Infrastructure (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
NBIS Nebius Group N.V. $51.2B 636× 34.8× +454.04% (above 0%: growing) n/m −399.28% (below 0%: shrinking) 77.06% (30.21%) Compare
XYZ Block, Inc. $48.0B 134× 29.7× +9.30% (above 0%: growing) −82.95% (below 0%: shrinking) +181.80% (above 0%: growing) 47.84% 6.75% Compare
NTAP NetApp, Inc. $42.2B 28.4× 23.4× +29.89% (above 0%: growing) +64.66% (above 0%: growing) −35.32% (below 0%: shrinking) 70.07% 23.90%
TWLO Twilio Inc. $42.0B 32.5× 107× +22.03% (above 0%: growing) +4,560.00% (above 0%: growing) +32.18% (above 0%: growing) 48.42% 5.64% Compare
CRWV CoreWeave Inc. $38.4B — (loss-making) — (loss-making) +112.46% (above 0%: growing) n/m −112.39% (below 0%: shrinking) 65.86% (1.90%) Compare
OKTA Okta, Inc. $36.5B 111× 72.2× +10.58% (above 0%: growing) +76.32% (above 0%: growing) +38.89% (above 0%: growing) 79.63% 13.29% Compare
ZS Zscaler, Inc. $35.9B — (loss-making) — (loss-making) +24.88% (above 0%: growing) n/m −64.66% (below 0%: shrinking) 76.73% (1.72%) Compare
MDB MongoDB, Inc. $29.5B 456× 2,423× +30.50% (above 0%: growing) n/m +94.79% (above 0%: growing) 73.83% 3.68% Compare
VRSN VeriSign, Inc. $27.5B 32.8× 31.1× +6.03% (above 0%: growing) +7.69% (above 0%: growing) +9.30% (above 0%: growing) 88.50% 68.18% Compare
Median of peers $37.4B 122× 53.5× +23.45% +42.01% +20.74% 75.28% 4.66%

All 173 Software Infrastructure stocks →

NTAP metrics, ten years each

NetApp, Inc. (NTAP) key facts

  • NetApp, Inc. (NTAP) is a Software Infrastructure company in the Technology sector, listed on Nasdaq.
  • As of October 16, 2026, NTAP traded at $203.80, a market capitalization of $42.2 billion.
  • NetApp, Inc. pays an annual dividend of $2.08 per share, a yield of 1.02%, with a payout ratio of 29.3%.
  • Return on equity was 106.7% and debt-to-equity 1.66.
  • Its Piotroski F-score is 9 out of 9 and its Altman Z-score is 2.78 (grey zone) for fiscal 2026.

Source: company filings (standardised) and stockrow calculations.

NetApp, Inc. (NTAP) Latest News

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stockrow.com/NTAP · Data as of Jul 31, 2026 · For information only; not investment advice. · © 2026 stockrow.com