NetApp, Inc.

US$169.19As of Sun 8 Nov 2026, 12:00 UTC

NASDAQ:NTAPTechnology

Country USA

PE (Fwd) •••

TSR 10Y CAGR 20.27%

Div yield 1.23%

ROE 114.82%

Software (Infrastructure)

Beta (5Y) 1.51

PE TTM 23.88

TSR TTM 45.86%

Mkt cap US$33.23B

ROIC 313.21%

SE Grade™

Value

Quality

Moat

Consensus

Reference

$179

5.65%

(48.19%)

Hold 8|8|7|10|4

TTM

FYE 30 Apr USD

FY2017

FY2018

FY2019

FY2020

FY2021

FY2022

FY2023

FY2024

FY2025

FY2026

FY2027E

Trend

10Y

Peers

6.961

Revenue$B

6.913

7.031

7.114

7.194

7.367

7.538

7.634

7.488

7.649

7.600

7.203

0.63%

1.07%

5.21

Revenue growth%

25.08

24.97

27.94

28.45

25.48

28.17

27.46

26.63

27.12

27.34

29.14

27.34

27.23

16.85

Gross margin%

9.15

7.50

10.16

8.15

9.83

10.19

8.36

10.13

7.86

5.32

12.28

8.36

8.76

26.85

Operating margin%

23.32

23.14

23.60

21.38

21.51

19.95

17.36

17.91

19.31

21.65

5.51

19.31

21.45

14.24

Net margin%

10.13

12.96

13.83

15.46

16.37

17.26

16.32

19.25

16.51

15.53

27.55

16.51

15.92

36.10

P/E ratio (avg)x

28.98

28.83

26.90

29.63

28.98

27.85

26.97

29.22

30.63

28.29

16.11

28.29

28.90

10.06

EV/EBITx

11.76

11.63

12.51

12.08

11.83

10.45

10.17

9.751

9.742

8.824

32.30

9.751

11.04

26.20

FCF yield (avg)%

7.78

7.52

6.30

4.30

5.91

6.74

6.76

7.83

8.13

7.64

27.75

7.64

7.14

9.45

FCF margin%

17.81

15.27

12.92

13.27

15.23

14.18

13.96

13.33

14.95

14.99

9.60

14.18

14.57

1.764

FCF / Net incomex

0.965

1.060

1.115

1.106

1.132

1.126

1.234

1.371

1.523

1.786

0.790

1.371

1.129

9.39

ROIC%

16.24

17.41

15.10

17.32

15.95

15.11

14.63

12.31

9.36

9.47

11.75

12.31

15.10

27.42

Return on equity%

5.82

7.92

9.56

7.05

5.19

3.94

3.73

2.31

3.74

4.32

7.84

3.74

4.75

11.57

Return on assets%

15.07

15.61

17.58

15.16

14.75

15.58

12.88

11.51

12.39

14.11

10.04

12.88

14.91

32.44

EPS$

11.94

13.71

13.58

14.24

16.84

18.28

20.27

23.39

24.22

28.81

34.47

11.34%

10.64%

—

3.51

EPS growth%

18.72

21.31

18.89

18.20

19.25

21.50

22.63

24.62

23.90

26.44

3.47

23.90

21.41

18.02

Bookvalue per sh$

21.99

23.30

24.19

25.07

26.70

26.24

28.47

29.55

32.00

29.23

34.46

1.83%

3.32%

—

21.27

FCF per share$

27.09

28.05

28.95

30.68

34.71

33.44

33.88

36.96

40.84

46.09

25.72

5.84%

5.67%

—

27.15

Dividend per sh$

14.34

15.25

17.50

16.65

19.02

18.58

19.97

20.11

19.64

19.59

30.01

0.59%

4.66%

—

20.94

Div yield (avg)%

10.03

7.36

5.14

4.96

2.94

0.84

1.74

3.07

1.05

0.40

9.98

1.05

3.00

3.52

Payout ratio%

10.50

11.25

12.39

12.88

10.71

12.74

15.52

15.47

12.87

13.85

6.07

13.85

12.80

200.1

Shares (diluted)M

261.1

300.9

304.0

347.1

371.4

383.8

383.7

449.0

510.0

478.2

198.8

5.18%

6.51%

8.60

Buyback yield%

20.18

17.97

20.90

18.44

19.61

18.20

16.75

15.84

18.66

18.79

23.45

18.20

18.55

1.773

D/E ratiox

0.787

0.725

0.668

0.665

0.680

0.613

0.618

0.603

0.651

0.737

0.339

0.618

0.666

5.668

Enterprise value$B

5.193

5.304

5.644

5.423

4.659

4.753

4.344

4.328

4.029

4.139

6.582

(2.34%)

(2.36%)

8.831

LT debt$B

2.554

2.720

2.504

2.818

3.093

3.366

3.723

3.525

3.740

4.023

2.090

5.40%

5.17%

Peers (US$33.23B)

Cap (US$)

Zscaler, Inc.

32.23B

—

Twilio Inc.

31.26B

24.57x

Okta, Inc.

29.49B

102.6x

Adyen N.V.

31.94B

25.34x

Capital

TTM

10Y

Leveragex

1.019

(0.728)

(0.734)

EBIT/Intx

2.571

0.357

0.333

Own earn%

(9.86)

34.02

26.33

Sh yield%

29.54

19.04

21.13

Owners

Insiders/Inst%

12.64

81.89

Short interest%

0.60

SBC / revenue%

1.67

Record

10Y

Profitable years

10/10

Revenue growth years

10/10

EPS growth years

10/10

Dividend streakyrs

Op margin range%

17–24

$1 testx

−2.3

Incr. ROIC%

NetApp, Inc. develops enterprise software, systems, and services to transform data infrastructures in the United States, Canada, Latin America, Europe, the Middle East, Africa, and the Asia Pacific. It operates through two segments, Hybrid Cloud and Public Cloud.

Growth vs revenue

Latest

Trend

10Y CAGR

Rel growth

Revenue

$7.600B

1.07%

1.00×

Cost of revenue

$4.398B

0.98%

0.99×

Operating expenses

$1.289B

1.04%

1.00×