NetApp, Inc. NTAP

Technology SIC 3572 - Computer Storage Devices NAICS Manufacturing › Computer and Electronic Product Manufacturing › Computer and Peripheral Equipment Manufacturing › Computer Storage Device Manufacturing derived Nasdaq

NetApp, Inc. (NetApp, we, us, or the Company), headquartered in San Jose, California, is a global leader in Intelligent Data Infrastructure. Since our founding in 1992, we have transformed from a pioneering storage hardware provider into a software-driven, cloud-centric data infrastructure company. Our flagship ONTAP® data management software, together with a comprehensive portfolio of all-flash, hybrid-flash, and cloud-native solutions, forms the backbone of digital transformation for thousands of enterprises worldwide. NetApp empowers organizations to manage, protect, and leverage data across on-premises, hybrid, and multi-cloud environments. We are well positioned to enable Intelligent Data Infrastructure for our customers and help them realize the full promise of artificial intelligence (AI) providing solutions that connect, protect, and activate data across every data environment—on-premises, in the cloud, and at the edge.

Last close 215.48 2026-10-23
Market cap $42.32B 2026-07-31 share count
52-week range 93.69 - 240.87

Valuation FY2025 figures against the last close

P/S6.1x
P/E33.9x
P/FCF22.6x
EV/EBITDA22.2x
Dividend yield1.0%
Diluted EPS6.35

Where the revenue comes from as reported in the latest 10-K

Revenue by geography

  • United States, Canada And Latin America (Americas)
  • Europe, Middle East And Africa (EMEA)
  • Asia Pacific (APAC)
Revenue by geography, 3 categories over 3 years. The same figures are in the table below. FY2025 United States, Canada And Latin America (Americas), FY2025: 3.5B (50.6%) 51% United States, Canada And Latin America (Americas) Europe, Middle East And Africa (EMEA), FY2025: 2.4B (34.1%) 34% Europe, Middle East And Africa (EMEA) Asia Pacific (APAC), FY2025: 1.1B (15.3%) 15% Asia Pacific (APAC) FY2024 United States, Canada And Latin America (Americas), FY2024: 3.3B (50.9%) 51% Europe, Middle East And Africa (EMEA), FY2024: 2.2B (33.5%) 34% Asia Pacific (APAC), FY2024: 1B (15.5%) 16% FY2023 United States, Canada And Latin America (Americas), FY2023: 3.2B (50.9%) 51% Europe, Middle East And Africa (EMEA), FY2023: 2.1B (33.6%) 34% Asia Pacific (APAC), FY2023: 971M (15.5%) 15%
Region FY2025FY2024FY2023
United States, Canada And Latin America (Americas) $3.50B $3.35B $3.19B
Europe, Middle East And Africa (EMEA) $2.36B $2.20B $2.10B
Asia Pacific (APAC) $1.06B $1.02B $971.0M

As the company reported it, from the “Segment Geographic and Significant Customer Information - Schedule of Revenues by Geographic Region (Detail)” note of its latest 10-K. Every figure here has been checked against the total revenue the same filing reported. Regions are the filer's own and are not mapped onto a standard list — one company's “Americas” and another's “United States” are different areas, and making them look comparable would mean making at least one of them wrong. Slices under 1% are folded into “Other”.

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue $6.92B$6.57B$6.27B$6.36B$6.32B$5.74B$5.41B$6.15B$5.92B$5.49B
Cost of revenue $2.03B$1.96B$1.83B$2.15B$2.10B$1.93B$1.79B$2.20B$2.21B$2.13B
Gross profit $4.90B$4.61B$4.43B$4.21B$4.22B$3.81B$3.62B$3.94B$3.71B$3.36B
R&D $991.0M$1.01B$1.03B$956.0M$881.0M$881.0M$847.0M$827.0M$783.0M$779.0M
SG&A $344.0M$311.0M$308.0M$265.0M$279.0M$257.0M$263.0M$278.0M$280.0M$271.0M
Total operating expenses $3.23B$3.28B$3.22B$3.19B$3.06B$2.78B$2.68B$2.72B$2.55B$2.74B
Operating income $1.67B$1.34B$1.21B$1.02B$1.16B$1.03B$945.0M$1.22B$1.16B$621.0M
Interest expense $109.0M$64.0M$64.0M$67.0M$73.0M$74.0M$55.0M$58.0M$62.0M$52.0M
Pre-tax income $1.65B$1.38B$1.26B$1.07B$1.09B$962.0M$944.0M$1.27B$1.20B$621.0M
Income tax $372.0M$197.0M$277.0M$208.0M$158.0M$232.0M$125.0M$99.0M$1.08B$140.0M
Net income $1.28B$1.19B$986.0M$1.27B$937.0M$730.0M$819.0M$1.17B$116.0M$481.0M
EPS, basic 6.415.814.745.874.203.293.564.600.431.75
EPS, diluted 6.355.674.635.794.093.233.524.510.421.71
Shares, diluted (wtd. avg.) 201.0M209.0M213.0M220.0M229.0M226.0M233.0M259.0M276.0M281.0M

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents $2.07B$2.74B$1.91B$2.32B$4.12B$4.54B$2.67B$2.33B$2.95B$2.45B
Short-term investments $1.51B$1.10B$1.35B$754.0M$22.0M$67.0M$224.0M$1.57B$2.45B$2.48B
Receivables $1.29B$1.25B$1.01B$987.0M$1.23B$945.0M$973.0M$1.22B$1.05B$731.0M
Inventory $198.0M$186.0M$186.0M$167.0M$204.0M$114.0M$145.0M$131.0M$122.0M$163.0M
Total current assets $5.78B$5.85B$4.90B$4.68B$5.95B$6.00B$4.27B$5.61B$6.95B$6.20B
Property, plant and equipment $592.0M$563.0M$604.0M$650.0M$602.0M$525.0M$727.0M$759.0M$756.0M$799.0M
Goodwill $2.77B$2.72B$2.76B$2.76B$2.35B$2.04B$1.78B$1.74B$1.74B$1.68B
Other intangibles $22.0M$43.0M$124.0M$181.0M$142.0M$101.0M$44.0M$47.0M$94.0M$131.0M
Total assets $10.74B$10.82B$9.89B$9.82B$10.03B$9.36B$7.52B$8.74B$9.99B$9.49B
Accounts payable $550.0M$511.0M$517.0M$392.0M$607.0M$420.0M$426.0M$542.0M$609.0M$347.0M
Short-term debt $0$750.0M$400.0M$0$250.0M$0$0$400.0M$0$749.0M
Total current liabilities $4.02B$4.66B$4.11B$3.47B$3.95B$3.45B$3.62B$3.87B$3.53B$4.12B
Long-term debt $2.49B$2.48B$1.99B$2.39B$2.39B$2.63B$1.15B$1.14B$1.54B$744.0M
Total liabilities $9.39B$9.78B$8.74B$8.66B$9.19B$8.68B$7.28B$7.65B$7.71B$6.71B
Retained earnings $153.0M$0$208.0M$265.0M$122.0M$211.0M$0$0-$9.0M$40.0M
Total equity $1.35B$1.04B$1.15B$1.16B$838.0M$685.0M$242.0M$1.09B$2.28B$2.95B

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow $2.07B$1.51B$1.69B$1.11B$1.21B$1.33B$1.06B$1.34B$1.48B$986.0M
Depreciation and amortisation $179.0M$196.0M$198.0M$181.0M$148.0M$158.0M$154.0M$150.0M$145.0M$178.0M
Stock-based compensation $382.0M$386.0M$357.0M$312.0M$245.0M$197.0M$153.0M$158.0M$161.0M$195.0M
Capital expenditure $198.0M$168.0M$155.0M$239.0M$226.0M$162.0M$124.0M$173.0M$145.0M$175.0M
Investing cash flow -$595.0M$147.0M-$735.0M-$1.39B-$561.0M$21.0M$1.27B$704.0M-$21.0M-$223.0M
Financing cash flow -$2.15B-$828.0M-$1.34B-$1.51B-$1.02B$444.0M-$1.96B-$2.63B-$986.0M-$1.18B
Dividends paid $413.0M$424.0M$416.0M$432.0M$446.0M$427.0M$439.0M$403.0M$214.0M$208.0M
Buybacks $950.0M$1.15B$900.0M$850.0M$600.0M$125.0M$1.41B$2.11B$794.0M$705.0M

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001193125-26-321210.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. 0 2B 4B 6B 8B Revenue, FY2016: 5.5B Gross profit, FY2016: 3.4B Net income, FY2016: 481M Revenue, FY2017: 5.9B Gross profit, FY2017: 3.7B Net income, FY2017: 116M Revenue, FY2018: 6.1B Gross profit, FY2018: 3.9B Net income, FY2018: 1.2B Revenue, FY2019: 5.4B Gross profit, FY2019: 3.6B Net income, FY2019: 819M Revenue, FY2020: 5.7B Gross profit, FY2020: 3.8B Net income, FY2020: 730M Revenue, FY2021: 6.3B Gross profit, FY2021: 4.2B Net income, FY2021: 937M Revenue, FY2022: 6.4B Gross profit, FY2022: 4.2B Net income, FY2022: 1.3B Revenue, FY2023: 6.3B Gross profit, FY2023: 4.4B Net income, FY2023: 986M Revenue, FY2024: 6.6B Gross profit, FY2024: 4.6B Net income, FY2024: 1.2B Revenue, FY2025: 6.9B Gross profit, FY2025: 4.9B Net income, FY2025: 1.3B FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue $5.49B $5.92B $6.15B $5.41B $5.74B $6.32B $6.36B $6.27B $6.57B $6.92B
Gross profit $3.36B $3.71B $3.94B $3.62B $3.81B $4.22B $4.21B $4.43B $4.61B $4.90B
Net income $481.0M $116.0M $1.17B $819.0M $730.0M $937.0M $1.27B $986.0M $1.19B $1.28B

Recent filings and events

  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
  • Results announced Item 2.02
  • Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
  • Results announced Item 2.02
  • Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
  • Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
  • Results announced Item 2.02
  • Officer or director change Item 5.02
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Results announced Item 2.02
  • Annual report filed Form 10-K

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

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