Tearsheet

NetScout Systems (NTCT)

Market Price (12/26/2025): $27.7 | Market Cap: $2.0 Bil
Sector: Information Technology | Industry: Communications Equipment

NetScout Systems (NTCT)

Market Price (12/26/2025): $27.7
Market Cap: $2.0 Bil
Sector: Information Technology
Industry: Communications Equipment

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

0	Cash is significant % of market cap Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -24%	Trading close to highs Dist 52W High is -4.7%	Weak revenue growth Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -0.7%
1	Attractive cash flow generation CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 31%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 30%	Weak multi-year price returns 2Y Excs Rtn is -24%, 3Y Excs Rtn is -97%	Key risks NTCT key risks include [1] the eroding relevance of its legacy products due to the industry's shift to the cloud, Show more.
2	Attractive yield FCF Yield is 13%
3	Low stock price volatility Vol 12M is 32%
4	Megatrend and thematic drivers Megatrends include Cybersecurity, 5G & Advanced Connectivity, and Cloud Computing. Themes include Network Security, Show more.

0	Cash is significant % of market cap Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -24%
1	Attractive cash flow generation CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 31%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 30%
2	Attractive yield FCF Yield is 13%
3	Low stock price volatility Vol 12M is 32%
4	Megatrend and thematic drivers Megatrends include Cybersecurity, 5G & Advanced Connectivity, and Cloud Computing. Themes include Network Security, Show more.
5	Trading close to highs Dist 52W High is -4.7%
6	Weak multi-year price returns 2Y Excs Rtn is -24%, 3Y Excs Rtn is -97%
7	Weak revenue growth Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -0.7%
8	Key risks NTCT key risks include [1] the eroding relevance of its legacy products due to the industry's shift to the cloud, Show more.

Valuation, Metrics & Events

	12/26/25	2024	2023	2022
Share Price CYE	$27.70	$21.66	$21.95	$32.51
Market Cap CYE ($ Bil)	2.0	1.6	1.6	2.3
Total Debt ($ Bil)	0.0	0.0	0.2	0.2
Total Cash ($ Bil)	0.5	0.5	0.4	0.4
Enterprise Value ($ Bil)	1.5	1.6	1.8	2.5
Valuation Ratios
P/S TTM	2.3	1.9	1.9	2.6
P/EBIT TTM	18.4	-4.3	-11.5	29.7
P/E TTM	22.3	-4.2	-10.6	39.1
P/FCF TTM	7.8	7.4	29.9	16.0
Sector Ratios
P/S TTM (Sector)	3.2	3.2	2.9	2.6
P/EBIT TTM (Sector)	3.0	2.3	-0.2	-0.7
P/E TTM (Sector)	-0.2	-0.3	-0.5	-0.8
P/FCF TTM (Sector)	12.3	13.7	12.2	6.9

	12/26/25	2024	2023
Share Price CYE	$27.70	$21.66	$21.95
Market Cap CYE ($ Bil)	2.0	1.6	1.6
Total Debt ($ Bil)	0.0	0.0	0.2
Total Cash ($ Bil)	0.5	0.5	0.4
Enterprise Value ($ Bil)	1.5	1.6	1.8
Valuation Ratios
P/S TTM	2.3	1.9	1.9
P/EBIT TTM	18.4	-4.3	-11.5
P/E TTM	22.3	-4.2	-10.6
P/FCF TTM	7.8	7.4	29.9
Sector Ratios
P/S TTM (Sector)	3.2	3.2	2.9
P/EBIT TTM (Sector)	3.0	2.3	-0.2
P/E TTM (Sector)	-0.2	-0.3	-0.5
P/FCF TTM (Sector)	12.3	13.7	12.2

	NTCT	S&P 500
REVENUE GROWTH
Rev LTM ($ Bil)	0.9
Rev Chg Q	14.6%	7.3%
Rev Chg LTM	9.6%	6.1%
Rev Chg 3Y Avg	-0.7%	5.5%
PROFITABILITY	GOOD
Op Inc LTM ($ Bil)	0.1
CFO LTM ($ Bil)	0.3
Net Inc LTM ($ Bil)	0.1
Op Mgn LTM	12.7%	18.8%
CFO/Rev LTM	30.5%	20.4%
Net Inc Mgn	10.4%	13.1%
VALUATION	MODERATE
P/S	2.3	3.3
P/CFO	7.6	15.8
P/FCF	7.8	20.7
P/E	22.3	23.5
STABILITY	VERY GOOD
Debt/Equity	0.02	0.21
Cash/Assets	0.24	0.07

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Metric	Value	Date	Source
Total Product Backlog	$39.8 million	9302025	Link
Number of Employees	2,123	3312025	Link
Percentage of Revenue from Service	57%	9302025	Link

Upcoming
1/29/2026	Earnings Release	Rev: $233 Mil (E) EPS: $0.86 (E)

NTCT Stock

Return (1M):

Why The Stock Moved

Qualitative Assessment

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The NetScout Systems (NTCT) stock experienced a 12% climb around January 30, 2025, following its third-quarter fiscal year 2025 earnings report. While the requested period starts on August 31, 2025, the most direct explanation for a 12% stock movement for NTCT within the available information precedes this date, providing key context for the company's performance leading into the specified approximate timeframe. Key points influencing the stock's movement around this period include: **1. NetScout Systems' stock climbed 12% following the company's announcement of third-quarter fiscal year 2025 earnings (for the quarter ending December 31, 2024) around January 30, 2025. This report surpassed analyst expectations and included strong guidance for fiscal year 2025.**

**2. The robust sales across NetScout's cybersecurity and service assurance product lines significantly contributed to this strong quarterly performance, particularly with a substantial increase in product revenue.**

**3. The company benefited from certain customer orders that were anticipated for the fourth quarter of fiscal year 2025 being received earlier, leveraging year-end budgets, which positively impacted the third-quarter results.**

**4. NetScout also highlighted ongoing restructuring efforts, including a Voluntary Separation Program, which were projected to generate annual run-rate savings of approximately $25 million, with about $19 million of these savings realized in fiscal year 2025.**

**5. As of late 2025, Wall Street analysts maintained a "Moderate Buy" consensus rating for NTCT, with average price targets suggesting potential upside for the stock.** Show more

Stock Movement Drivers

Fundamental Drivers

The 8.1% change in NTCT stock from 9/25/2025 to 12/25/2025 was primarily driven by a 19.1% change in the company's Net Income Margin (%).

	9252025	12252025	Change
Stock Price ($)	25.78	27.88	8.15%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	834.86	862.77	3.34%
Net Income Margin (%)	8.72%	10.38%	19.10%
P/E Multiple	25.41	22.43	-11.71%
Shares Outstanding (Mil)	71.73	72.08	-0.49%
Cumulative Contribution			8.14%

LTM = Last Twelve Months as of date shown

Market Drivers

9/25/2025 to 12/25/2025

	Return	Correlation
NTCT	8.1%
Market (SPY)	4.9%	37.6%
Sector (XLK)	5.3%	40.1%

Fundamental Drivers

The 10.9% change in NTCT stock from 6/26/2025 to 12/25/2025 was primarily driven by a 6.1% change in the company's P/S Multiple.

	6262025	12252025	Change
Stock Price ($)	25.14	27.88	10.90%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	822.68	862.77	4.87%
P/S Multiple	2.20	2.33	6.07%
Shares Outstanding (Mil)	71.86	72.08	-0.31%
Cumulative Contribution			10.90%

LTM = Last Twelve Months as of date shown

Market Drivers

6/26/2025 to 12/25/2025

	Return	Correlation
NTCT	10.9%
Market (SPY)	13.1%	44.4%
Sector (XLK)	16.7%	42.3%

Fundamental Drivers

The 27.1% change in NTCT stock from 12/25/2024 to 12/25/2025 was primarily driven by a 17.0% change in the company's P/S Multiple.

	12252024	12252025	Change
Stock Price ($)	21.93	27.88	27.13%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	787.19	862.77	9.60%
P/S Multiple	1.99	2.33	17.02%
Shares Outstanding (Mil)	71.45	72.08	-0.88%
Cumulative Contribution			27.12%

LTM = Last Twelve Months as of date shown

Market Drivers

12/25/2024 to 12/25/2025

	Return	Correlation
NTCT	27.1%
Market (SPY)	15.8%	57.1%
Sector (XLK)	22.2%	57.2%

Fundamental Drivers

The -14.6% change in NTCT stock from 12/26/2022 to 12/25/2025 was primarily driven by a -52.6% change in the company's P/E Multiple.

	12262022	12252025	Change
Stock Price ($)	32.63	27.88	-14.56%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	890.28	862.77	-3.09%
Net Income Margin (%)	5.57%	10.38%	86.47%
P/E Multiple	47.30	22.43	-52.57%
Shares Outstanding (Mil)	71.86	72.08	-0.31%
Cumulative Contribution			-14.56%

LTM = Last Twelve Months as of date shown

Market Drivers

12/26/2023 to 12/25/2025

	Return	Correlation
NTCT	24.0%
Market (SPY)	48.3%	47.7%
Sector (XLK)	53.5%	42.8%

Return vs. Risk

Price Returns Compared

	2020	2021	2022	2023	2024	2025	Total [1]
Returns
NTCT Return	14%	21%	-2%	-32%	-1%	28%	15%
Peers Return	84%	40%	-38%	28%	10%	39%	209%
S&P 500 Return	16%	27%	-19%	24%	23%	18%	115%
Monthly Win Rates [3]
NTCT Win Rate	42%	50%	42%	42%	58%	67%
Peers Win Rate	63%	62%	35%	57%	55%	62%
S&P 500 Win Rate	58%	75%	42%	67%	75%	73%
Max Drawdowns [4]
NTCT Max Drawdown	-17%	-5%	-11%	-39%	-20%	-11%
Peers Max Drawdown	-23%	-7%	-46%	-20%	-23%	-16%
S&P 500 Max Drawdown	-31%	-1%	-25%	-1%	-2%	-15%

[1] Cumulative total returns since the beginning of 2020
[2] Peers: KEYS, VIAV, FFIV, AKAM, NET. See NTCT Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2025 data is for the year up to 12/24/2025 (YTD)

How Low Can It Go

Unique Key	Event	NTCT	S&P 500
2022 Inflation Shock	2022 Inflation Shock
2022 Inflation Shock% Loss	% Loss	-47.5%	-25.4%
2022 Inflation Shock% Gain to Breakeven	% Gain to Breakeven	90.6%	34.1%
2022 Inflation ShockTime to Breakeven	Time to Breakeven	Not Fully Recovered days	464 days
2020 Covid Pandemic	2020 Covid Pandemic
2020 Covid Pandemic% Loss	% Loss	-32.1%	-33.9%
2020 Covid Pandemic% Gain to Breakeven	% Gain to Breakeven	47.4%	51.3%
2020 Covid PandemicTime to Breakeven	Time to Breakeven	73 days	148 days
2018 Correction	2018 Correction
2018 Correction% Loss	% Loss	-44.7%	-19.8%
2018 Correction% Gain to Breakeven	% Gain to Breakeven	80.7%	24.7%
2018 CorrectionTime to Breakeven	Time to Breakeven	Not Fully Recovered days	120 days
2008 Global Financial Crisis	2008 Global Financial Crisis
2008 Global Financial Crisis% Loss	% Loss	-60.9%	-56.8%
2008 Global Financial Crisis% Gain to Breakeven	% Gain to Breakeven	156.1%	131.3%
2008 Global Financial CrisisTime to Breakeven	Time to Breakeven	519 days	1,480 days

Compare to CSCO, KEYS, VIAV, RPD, ANET

In The Past

NetScout Systems's stock fell -47.5% during the 2022 Inflation Shock from a high on 12/1/2022. A -47.5% loss requires a 90.6% gain to breakeven.

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About NetScout Systems (NTCT)

Business Description Analogies Products Customers Suppliers Management Key Risks Emerging Threats Market Size Revenue Drivers Capital Allocation

NetScout Systems, Inc. provides service assurance and cybersecurity solutions for protect digital business services against disruptions in the United States, Europe, Asia, and internationally. The company offers nGeniusONE management software that enables customers to predict, preempt, and resolve network and service delivery problems, as well as facilitate the optimization and capacity planning of their network infrastructures; and specialized platforms and analytic modules that enable its customers to analyze and troubleshoot traffic in radio access and Wi-Fi networks. It also provides nGeniusPULSE, an active testing tool that enables enterprises to identify infrastructure performance issues and determine application availability, reliability, and performance; and nGenius Business Analytics solution, which enables service providers to analyze their network traffic. In addition, the company offers ISNG, an advanced passive network probe; packet flow systems that deliver targeted network traffic access to various monitoring and security tools and systems; and a suite of test access points that enable non-disruptive access to network traffic. Further, it provides cybersecurity solutions to protect their networks against distributed denial of service attacks under the Arbor brand, such as Arbor Sightline, Arbor Threat Mitigation System, Arbor Insight, Arbor Edge Defense, and Arbor Cloud. Additionally, it offers advanced threat detection solutions, such as Omnis Cyber Investigator. It serves enterprise customers in various industries, including financial services, technology, manufacturing, healthcare, utilities, education, transportation, and retail; mobile operators, wireline operators, cable operators, Internet service providers, and cloud providers; and governmental agencies through a direct sales force, and indirect reseller and distribution channels. NetScout Systems, Inc. was incorporated in 1984 and is headquartered in Westford, Massachusetts.

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Here are 1-2 brief analogies for NetScout Systems (NTCT):

Datadog for deep network performance and security monitoring.
Splunk for network data analytics and threat detection.

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NetScout Systems (NTCT) Major Products and Services:

Service Assurance Solutions: These solutions provide comprehensive visibility and analytics to monitor, troubleshoot, and ensure optimal performance of applications and services across complex IT environments.
Cybersecurity Solutions: NetScout offers advanced threat detection, incident response, and Distributed Denial of Service (DDoS) protection by leveraging deep packet inspection and network traffic analysis.
Packet Flow Systems (Smart Data Technology): These systems deliver the underlying technology and platforms for intelligent collection, processing, and analysis of network packet data, essential for their assurance and security offerings.

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NetScout Systems (NTCT) primarily sells its network performance management, cybersecurity, and service assurance solutions to other companies (B2B).

While NetScout Systems serves a broad range of organizations globally, it does not publicly disclose the names of individual major customers in its financial filings or investor relations materials. Instead, it categorizes its customer base into the following broad types of organizations:

Large Enterprises: This category encompasses major corporations across diverse sectors, including financial services, technology, manufacturing, healthcare, and retail. These enterprises utilize NetScout's solutions to ensure the performance, availability, and security of their critical IT infrastructure and applications.
Service Providers: This includes telecommunications mobile operators (e.g., for 5G network monitoring and optimization), cable operators, and managed service providers. These customers rely on NetScout for network visibility, service assurance, and to enhance subscriber experience.
Government Entities: Federal, state, and local government agencies are also key customers, leveraging NetScout's technology for secure and efficient network operations, critical infrastructure protection, and digital transformation initiatives.

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Anil Singhal Co-founder, President, Chief Executive Officer, and Chairman of the Board

Anil Singhal co-founded NetScout in June 1984 as Frontier Software and has served as CEO since its inception. He has guided NetScout through substantial growth, including its initial public offering in 1999 and the $2.3 billion acquisition of the Danaher Communications Business in 2015. Prior to co-founding NetScout, Mr. Singhal was a Project Manager and Senior Architect at Wang Laboratories, Inc. from 1979 to 1984. Wang Laboratories was later acquired by Getronics BV in 1999.

Anthony Piazza Executive Vice President, Chief Financial Officer (Effective May 31, 2025)

Anthony Piazza is set to become the Executive Vice President and Chief Financial Officer of NetScout Systems, effective May 31, 2025.

Sanjay Munshi Chief Operating Officer (Effective May 31, 2025)

Sanjay Munshi will assume the role of Chief Operating Officer for NetScout Systems, effective May 31, 2025.

Jean Bua Executive Vice President, Chief Financial Officer, and Treasurer (Stepping down May 31, 2025)

Jean Bua has served as Executive Vice President, Chief Financial Officer, and Treasurer of NetScout Systems since 2015. Her previous roles at NetScout include Chief Accounting Officer and Vice President of Finance from 2010 to 2011. Before rejoining NetScout, she was the Executive Vice President of Finance and Treasurer of American Tower Corporation from 2009 to 2010, and earlier, she served as Senior Vice President, Chief Accounting Officer, and Worldwide Controller at Iron Mountain, Inc. Ms. Bua is stepping down from her role effective May 31, 2025.

Michael Szabados Vice Chairman

Michael Szabados currently serves as Vice Chairman for NetScout Systems. He previously held the position of Chief Operating Officer from April 2007 to May 2025, playing a critical role in the company's growth, including the acquisition of the Danaher Communications Business in 2015. Prior to joining NetScout in 1997, Mr. Szabados held senior leadership roles at companies such as UB Networks, SynOptics/Bay Networks, and MIPS Corporation, following earlier engineering and product management roles at Intel Corporation and Apple. UB Networks was acquired by Alcatel Networks Corp. in 1997. Mr. Szabados will be stepping down from his COO role effective May 31, 2025.

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NetScout Systems (NTCT) faces several key risks to its business operations:

Highly Competitive Industry and Cloud Migration: NetScout operates in a highly competitive industry characterized by strong pricing pressures and rapid technological advancements. This environment has historically impacted revenues and could continue to deteriorate operations beyond 2025. The ongoing shift towards cloud, SaaS, and AI-driven solutions, along with IT stack consolidation, poses a significant threat by potentially undermining the relevance of NetScout's legacy products and squeezing margins.
Decline in Service Provider Revenue: The company's performance is partly dependent on customer spending in the service provider market, which has been constrained. There has been a notable decline in revenue from this traditional service provider vertical, with a 20% decrease in the first nine months of fiscal 2024 for the service assurance segment, and a 22.2% decrease in the first half of fiscal year 2025. This trend is expected to continue, with revenues projected to decrease further in fiscal years 2024 and 2025 as management does not foresee these headwinds easing soon.
Goodwill Impairment Charges: NetScout has experienced significant non-cash goodwill impairment charges. For example, a substantial charge of $427.0 million primarily drove a GAAP net loss of $366.9 million for fiscal year 2025. While these are non-cash, one-time accounting events and do not directly affect liquidity, their magnitude can be a "red flag" for investors and indicate past overvaluations or challenges with prior acquisitions.

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The rapid adoption and market dominance of cloud-native, SaaS-based observability and monitoring platforms pose a clear emerging threat. Companies like Datadog, Dynatrace, and Splunk (with its observability suite) offer integrated solutions for application performance monitoring (APM), infrastructure monitoring, log management, and security analytics, often with a focus on ease of deployment, scalability, and unified visibility in modern, distributed, and multi-cloud environments. This trend directly challenges NetScout's traditional service assurance and network performance management solutions, particularly as enterprises accelerate their cloud migration and adopt microservices architectures. These cloud-native competitors are capturing significant market share by offering flexible, subscription-based models and solutions inherently designed for the complexities of modern cloud infrastructure, potentially displacing or limiting the growth of traditional on-premises or less cloud-integrated offerings.

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NetScout Systems (NTCT) operates in several key addressable markets, including cybersecurity, network performance monitoring, and telecom service assurance.

Cybersecurity Solutions: The global cybersecurity market was estimated at USD 245.62 billion in 2024 and is projected to reach USD 500.70 billion by 2030, with a compound annual growth rate (CAGR) of 12.9% from 2025 to 2030. North America is a dominant region in this market, holding a market share of over 34% in 2024.
Network Performance Monitoring (NPM): The global network monitoring market was valued at USD 3.71 billion in 2024. This market is projected to grow to USD 8.24 billion by 2032, exhibiting a CAGR of 10.4% during the forecast period. In 2024, North America held the largest share of this market, at 42.32%.
Telecom Service Assurance: The global Telecom Service Assurance Market was valued at USD 4.82 billion in 2024. It is projected to reach USD 20.85 billion by 2034, growing at a robust CAGR of 15.49% during 2025–2034. North America is expected to maintain the largest market share in the global telecom service assurance market.
5G Network and Service Assurance: The global 5G network and assurance market is projected to attain a market size of US$5.027 billion in 2025 and grow to US$7.027 billion by 2030, at a CAGR of 6.93%.

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NetScout Systems (NTCT) is positioned for future revenue growth over the next 2-3 years, driven by several strategic initiatives and market trends. These include continued strength in its cybersecurity offerings, AI-driven product innovation, expansion of its service assurance portfolio, and robust demand from the federal government sector.

Here are 3-5 expected drivers of future revenue growth for NetScout Systems:

Growth in Cybersecurity Solutions: NetScout is experiencing significant growth in its cybersecurity segment, with revenue in this area showing strong year-over-year increases. For instance, cybersecurity revenue grew by 18.3% in Q1 FY26 and continued double-digit growth in Q2 FY26. The company is focused on enhancing its cybersecurity offerings, including new cyber intelligence, to meet the evolving threat landscape.
AI-driven Product Innovation and Smart Data Integration: A key strategic initiative for NetScout is the integration of Artificial Intelligence (AI) into its products to drive innovation. The company has emphasized its differentiation by "feeding smart data to algorithms in a unique way" and has introduced new AI-driven product enhancements. This focus aims to provide advanced solutions and maintain a competitive edge.
Expansion of Service Assurance Offerings and AIOps: NetScout continues to expand its service assurance capabilities, which also contributed to revenue growth, with service assurance revenue increasing by 10.1% in the first half of fiscal year 2026. The company is investing in AIOps (AI operations) and edge instrumentation, recognizing the growing interest from customers in these areas. Enterprise customers are increasingly investing in digital transformation initiatives that require enhanced visibility, observability, and AIOps.
Increased Demand from the Federal Government Sector: The federal government has emerged as a particularly strong customer vertical for NetScout, demonstrating robust underlying demand and an acceleration of orders in the first half of FY26. This sector has been a significant contributor to recent strong financial results.
Strategic Shift Towards Software-Related Sales: NetScout is undergoing a strategic transition towards a higher proportion of software-related sales. This shift, while also contributing to improved gross margins, implies an increase in scalable software revenue within the company's overall sales mix, supporting sustained growth.

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Share Repurchases

NetScout Systems utilized $56.92 million to repurchase 2,737,970 shares of its common stock during the first quarter of fiscal year 2026, which ended on August 7, 2025.
During the second quarter of fiscal year 2026, which ended September 30, 2025, NetScout repurchased approximately 741,000 shares for an aggregate of $16.6 million.
As of September 30, 2024, the company had completed repurchases of 1,976,721 shares for $41.9 million under a buyback plan announced on May 5, 2022. NetScout intends to remain active in the market for share repurchases during the remainder of fiscal year 2026, leveraging its existing authorization capacity.

Share Issuance

NetScout Systems expanded its 2019 Equity Incentive Plan in September 2024, adding 3.4 million shares authorized for issuance to align employee interests with shareholders.
The weighted average diluted shares outstanding have remained relatively stable, fluctuating around 71 to 73 million shares from Q4 2022 to Q3 2025.
As of January 30, 2025, the number of outstanding common shares was 71,754,689.

Outbound Investments

In February 2020, NetScout acquired Gigavation, a cybersecurity company, for $8.0 million.
The company divested its Test Optimization business in September 2023 for $8.3 million.
NetScout completed the sale of a foreign investment on August 4, 2025, for $11.8 million, which had an original purchase price of $7.5 million.

Capital Expenditures

Capital investments in property, plant, and equipment have ranged modestly from approximately $1.0 million to $3.5 million per quarter between Q4 2022 and Q3 2025.
For the six months ended September 30, 2025, $4.1 million was used for capital expenditures.
The company plans to continue investing in capital expenditures to support its infrastructure through the remainder of fiscal year 2026.

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CGI

Higher Rev Chg 3Y Avg | Lower P/Op Inc (Values for NTCT: -0.7% | 18.3x)

QCOM (1.2% | 15.2x)

Qualcomm

ACN (4.3% | 16.5x)

Accenture

ADBE (10.5% | 17.8x)

Adobe

DELL (0.2% | 12.4x)

Dell Technologies

CTSH (2.6% | 12.7x)

Cognizant Technology Solutions

Higher Rev Chg LTM (Value for NTCT: 9.6%)

NVDA (65.2%)

NVIDIA

PLTR (47.2%)

Palantir Technologies

AVGO (23.9%)

Broadcom

MSFT (15.6%)

Microsoft

ORCL (11.1%)

Oracle

Higher Rev Chg 3Y Avg (Value for NTCT: -0.7%)

NVDA (91.6%)

NVIDIA

AVGO (25.2%)

Broadcom

MSFT (13.2%)

Microsoft

ORCL (9.8%)

Oracle

AAPL (1.8%)

Apple

Higher Op Mgn LTM (Value for NTCT: 12.7%)

NVDA (58.8%)

NVIDIA

MSFT (46.3%)

Microsoft

AVGO (40.8%)

Broadcom

ORCL (31.9%)

Oracle

AAPL (31.9%)

Apple

Higher CFO/Rev LTM (Value for NTCT: 30.5%)

MSFT (50.0%)

Microsoft

PLTR (46.6%)

Palantir Technologies

NVDA (44.4%)

NVIDIA

AVGO (43.1%)

Broadcom

ORCL (36.5%)

Oracle

Higher FCF/Rev LTM (Value for NTCT: 29.6%)

APP (50.6%)

AppLovin

PLTR (46.0%)

Palantir Technologies

AVGO (42.1%)

Broadcom

NVDA (41.3%)

NVIDIA

CRM (32.0%)

Salesforce

Higher Total Yield (Value for NTCT: 4.5%)

ACN (6.8%)

Accenture

TXN (6.2%)

Texas Instruments

CSCO (5.4%)

Cisco Systems

IBM (5.0%)

International Business Machines

QCOM (5.0%)

Qualcomm

All Other Sectors

Higher Rev Chg 3Y Avg | Lower P/S (Values for NTCT: -0.7% | 2.3x)

WMT (5.4% | 1.3x)

Walmart

COST (6.7% | 1.4x)

Costco Wholesale

HD (1.9% | 2.1x)

Home Depot

UNH (11.4% | 0.7x)

UnitedHealth

DIS (4.5% | 2.2x)

Walt Disney

Higher Rev Chg 3Y Avg | Lower P/Op Inc (Values for NTCT: -0.7% | 18.3x)

V (10.9% | 17.3x)

Visa

HD (1.9% | 16.0x)

Home Depot

PG (1.8% | 16.5x)

Procter & Gamble

UNH (11.4% | 11.3x)

UnitedHealth

MRK (2.9% | 11.9x)

Merck

Higher Rev Chg LTM (Value for NTCT: 9.6%)

LLY (36.8%)

Eli Lilly

META (21.3%)

Meta Platforms

MA (14.6%)

Mastercard

GOOGL (13.4%)

Alphabet

AMZN (10.9%)

Amazon.com

Higher Rev Chg 3Y Avg (Value for NTCT: -0.7%)

BRK-B (19.8%)

Berkshire Hathaway

META (17.3%)

Meta Platforms

AMZN (11.3%)

Amazon.com

GOOGL (11.0%)

Alphabet

TSLA (9.3%)

Tesla

Higher Op Mgn LTM (Value for NTCT: 12.7%)

MA (58.3%)

Mastercard

META (43.2%)

Meta Platforms

LLY (43.0%)

Eli Lilly

GOOGL (32.2%)

Alphabet

JNJ (26.2%)

Johnson & Johnson

Higher CFO/Rev LTM (Value for NTCT: 30.5%)

V (57.6%)

Visa

BAC (57.3%)

Bank of America

META (56.8%)

Meta Platforms

MA (56.1%)

Mastercard

GOOGL (39.3%)

Alphabet

Higher FCF/Rev LTM (Value for NTCT: 29.6%)

RY (79.6%)

Royal Bank of Canada

BAC (57.3%)

Bank of America

V (53.9%)

Visa

MA (52.5%)

Mastercard

ABBV (33.0%)

AbbVie

Higher Total Yield (Value for NTCT: 4.5%)

XOM (9.2%)

Exxon Mobil

JNJ (7.5%)

Johnson & Johnson

JPM (6.4%)

JPMorgan Chase

BRK-B (6.2%)

Berkshire Hathaway

V (5.1%)

Visa

		Best Bets In Information Technology Sector
	NTCT	VRSN	IDCC	NVDA	RMBS	GEN	ZM	DBX	YOU	MPWR	DAVE
What You Pay
P/E	22.4	28.3	17.1	46.3	44.4	29.9	16.4	14.6	19.2	24.1	21.0
P/EBIT	18.5	20.4	13.8	39.4	37.9	10.6	23.9	11.9	20.9	66.0	24.0
What You Get
Rev Chg Q	14.6%	7.3%	28.0%	62.5%	22.7%	25.3%	4.4%	-0.7%	15.5%	18.9%	63.0%
Rev Chg LTM	9.6%	5.5%	28.8%	65.2%	31.0%	16.2%	3.8%	-0.4%	17.8%	30.5%	53.8%
Rev Chg 3Y Avg	-0.7%	5.2%	27.1%	91.6%	17.3%	16.5%	3.4%	3.4%	31.0%	17.2%	38.6%
FCF/Rev 3Y Avg	19.5%	57.4%	54.2%	43.4%	39.3%	36.7%	36.1%	33.4%	32.5%	28.6%	26.0%

[1] Choosing top 10 best bets from each sector quarterly is an alpha producing strategy vs sector benchmark
[2] Historical annualized return of 24%, alpha of 2.9%, and sharpe of 1.04

Latest Trefis Analyses

	Title	Topic
0	DASHBOARDS
1	NetScout Systems Earnings Notes
2	How Low Can NetScout Systems Stock Really Go?	Return
3	NTCT Dip Buy Analysis
4	NetScout Systems Total Shareholder Return (TSR): -3.8% in 2025 and -13.2% 3-yr compounded annual returns (below peer average)
5	NetScout Systems (NTCT) Operating Cash Flow Comparison	Financials
6	NetScout Systems (NTCT) Net Income Comparison	Financials
7	NetScout Systems (NTCT) Operating Income Comparison	Financials
8	NetScout Systems (NTCT) Revenue Comparison	Financials
9	NetScout Systems vs. S&P500 Correlation	Correlation
10	NetScout Systems Price Volatility	Volatility

	Title
0	ARTICLES

Trade Ideas

Select ideas related to NTCT. For more, see Trefis Trade Ideas.

Unique Key	Date	Ticker	Company	Category	Trade Strategy	6M Fwd Rtn	12M Fwd Rtn	12M Max DD
ENPH_11302025_Dip_Buyer_High_CFO_Margins_ExInd_DE	11302025	ENPH	Enphase Energy	Dip Buy	DB \| CFO/Rev \| Low D/EDip Buy with High Cash Flow Margins Buying dips for companies with significant cash flows from operations and reasonable debt / market cap	13.9%	13.9%	-0.9%
PD_11262025_Dip_Buyer_High_FCF_Yield_ExInd_DE_RevG	11262025	PD	PagerDuty	Dip Buy	DB \| FCF Yield \| Low D/EDip Buy with High Free Cash Flow Yield Buying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap	12.0%	12.0%	0.0%
CRM_11212025_Dip_Buyer_FCFYield	11212025	CRM	Salesforce	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	17.0%	17.0%	-0.1%
HUBS_11212025_Dip_Buyer_High_CFO_Margins_ExInd_DE	11212025	HUBS	HubSpot	Dip Buy	DB \| CFO/Rev \| Low D/EDip Buy with High Cash Flow Margins Buying dips for companies with significant cash flows from operations and reasonable debt / market cap	11.9%	11.9%	0.0%
FIVN_11212025_Dip_Buyer_High_FCF_Yield_ExInd_DE_RevG	11212025	FIVN	Five9	Dip Buy	DB \| FCF Yield \| Low D/EDip Buy with High Free Cash Flow Yield Buying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap	4.1%	4.1%	0.0%

Recent Active Movers

Top Gainers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
OMER	Omeros	0.9	75.5%	55.5%
DVAX	Dynavax Technologies	1.8	38.2%	20.4%
EWTX	Edgewise Therapeutics	2.9	25.5%	2.2%
AGIO	Agios Pharmaceuticals	1.7	18.6%	-11.2%
TVTX	Travere Therapeutics	3.6	13.9%	131.2%
KOD	Kodiak Sciences	1.6	13.2%	212.4%
RZLT	Rezolute	0.3	13.2%	-44.1%
UP	Wheels Up Experience	0.5	11.7%	-57.4%
FBYD	Falcons Beyond Global	0.7	9.5%	129.7%
BW	Babcock & Wilcox Enterprises	0.5	8.5%	226.2%

Top Losers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
ASTS	AST SpaceMobile	18.9	-8.9%	269.9%
QBTS	D-Wave Quantum	9.4	-5.5%	227.6%
NNE	Nano Nuclear Energy	1.2	-4.6%	21.7%
MNMD	Mind Medicine	1.2	-4.2%	93.0%
PPTA	Perpetua Resources	2.0	-4.0%	149.1%
KOS	Kosmos Energy	0.4	-4.0%	-73.6%
FRMI	Fermi	5.5	-4.0%	-75.7%
EXOD	Exodus Movement	0.4	-3.9%	-50.5%
TLRY	Tilray Brands	10.8	-3.6%	-23.7%
AEHR	Aehr Test Systems	0.7	-3.1%	32.7%

Top Gainers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
OMER	Omeros	0.9	74.0%	55.5%
LUNR	Intuitive Machines	2.0	63.7%	-8.0%
AAOI	Applied Optoelectronics	2.6	51.1%	11.2%
FBYD	Falcons Beyond Global	0.7	47.2%	129.7%
FLY	Firefly Aerospace	3.8	45.9%	-55.2%
RKLB	Rocket Lab	39.8	43.0%	203.0%
DVAX	Dynavax Technologies	1.8	42.5%	20.4%
UAMY	United States Antimony	0.8	39.9%	258.8%
DJT	Trump Media & Technology	4.0	36.7%	-58.0%
RZLT	Rezolute	0.3	36.3%	-44.1%

Top Losers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
NOW	ServiceNow	31.7	-80.5%	-28.0%
TPL	Texas Pacific Land	6.8	-66.5%	-19.2%
LW	Lamb Weston	6.0	-28.6%	-34.8%
TLRY	Tilray Brands	10.8	-21.2%	-23.7%
INSP	Inspire Medical Systems	2.8	-19.1%	-48.4%
TDUP	ThredUp	0.8	-17.1%	354.7%
OLMA	Olema Pharmaceuticals	2.3	-15.8%	370.8%
IIPR	Innovative Industrial Properties	1.4	-12.9%	-15.7%
ABM	ABM Industries	2.6	-12.6%	-15.8%
FRMI	Fermi	5.5	-12.6%	-75.7%

Top Gainers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
WVE	WAVE Life Sciences	3.0	144.6%	47.5%
TE	T1 Energy	1.1	124.5%	418.4%
ANF	Abercrombie & Fitch	6.0	93.2%	-15.2%
VERA	Vera Therapeutics	3.6	90.4%	31.6%
LUNR	Intuitive Machines	2.0	85.7%	-8.0%
AAOI	Applied Optoelectronics	2.6	82.5%	11.2%
RKLB	Rocket Lab	39.8	81.8%	203.0%
PL	Planet Labs PBC	6.2	76.1%	403.0%
NRGV	Energy Vault	0.8	66.9%	118.9%
FLY	Firefly Aerospace	3.8	60.4%	-55.2%

Top Losers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
RZLT	Rezolute	0.3	-72.0%	-44.1%
JANX	Janux Therapeutics	0.9	-54.6%	-73.3%
LENZ	LENZ Therapeutics	0.5	-46.3%	-40.6%
FRMI	Fermi	5.5	-45.2%	-75.7%
GOGO	Gogo	0.6	-34.1%	-43.0%
HPK	HighPeak Energy	0.6	-30.8%	-69.2%
ORIC	ORIC Pharmaceuticals	0.7	-28.5%	4.5%
FDMT	4D Molecular Therapeutics	0.5	-25.6%	45.4%
NKTR	Nektar Therapeutics	0.6	-25.1%	215.0%
LW	Lamb Weston	6.0	-24.8%	-34.8%

Peer Comparisons for NetScout Systems

Peers to compare with:

Financials

	NTCT	KEYS	VIAV	FFIV	AKAM	NET	Median
Name	NetScout.	Keysight.	Viavi So.	F5	Akamai T.	Cloudfla.
Mkt Price	27.88	205.33	18.26	262.33	88.82	202.66	145.74
Mkt Cap	2.0	35.3	4.1	15.1	12.8	70.8	13.9
Rev LTM	863	5,375	1,084	3,088	4,133	2,013	2,551
Op Inc LTM	110	876	58	791	637	-193	373
FCF LTM	256	1,281	62	906	718	209	487
FCF 3Y Avg	164	1,130	74	756	740	160	452
CFO LTM	263	1,409	90	950	1,496	540	745
CFO 3Y Avg	172	1,290	107	798	1,454	375	587

Growth & Margins

	NTCT	KEYS	VIAV	FFIV	AKAM	NET	Median
Name	NetScout.	Keysight.	Viavi So.	F5	Akamai T.	Cloudfla.
Rev Chg LTM	9.6%	8.0%	8.4%	9.7%	4.2%	28.1%	9.0%
Rev Chg 3Y Avg	-0.7%	-0.0%	-5.2%	4.7%	4.8%	31.1%	2.3%
Rev Chg Q	14.6%	10.3%	15.3%	8.5%	5.0%	30.7%	12.4%
QoQ Delta Rev Chg LTM	3.3%	2.5%	3.7%	2.1%	1.2%	7.0%	2.9%
Op Mgn LTM	12.7%	16.3%	5.4%	25.6%	15.4%	-9.6%	14.1%
Op Mgn 3Y Avg	9.2%	19.3%	5.8%	22.8%	16.8%	-12.0%	13.0%
QoQ Delta Op Mgn LTM	1.5%	-0.7%	0.4%	0.4%	0.0%	0.3%	0.4%
CFO/Rev LTM	30.5%	26.2%	8.3%	30.8%	36.2%	26.8%	28.7%
CFO/Rev 3Y Avg	20.3%	24.4%	10.1%	27.4%	36.8%	22.9%	23.7%
FCF/Rev LTM	29.6%	23.8%	5.7%	29.4%	17.4%	10.4%	20.6%
FCF/Rev 3Y Avg	19.5%	21.3%	7.0%	25.9%	18.7%	9.9%	19.1%

Valuation

	NTCT	KEYS	VIAV	FFIV	AKAM	NET	Median
Name	NetScout.	Keysight.	Viavi So.	F5	Akamai T.	Cloudfla.
Mkt Cap	2.0	35.3	4.1	15.1	12.8	70.8	13.9
P/S	2.3	6.6	3.8	4.9	3.1	35.2	4.3
P/EBIT	18.5	30.0	61.6	19.1	18.5	-825.9	18.8
P/E	22.4	41.5	117.2	21.8	25.2	-687.0	23.8
P/CFO	7.6	25.1	45.4	15.9	8.5	131.1	20.5
Total Yield	4.5%	2.4%	0.9%	4.6%	4.0%	-0.1%	3.2%
Dividend Yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
FCF Yield 3Y Avg	9.2%	4.2%	3.4%	5.7%	5.4%	0.5%	4.8%
D/E	0.0	0.1	0.2	0.0	0.4	0.0	0.1
Net D/E	-0.2	0.0	0.1	-0.1	0.3	-0.0	0.0

Returns

	NTCT	KEYS	VIAV	FFIV	AKAM	NET	Median
Name	NetScout.	Keysight.	Viavi So.	F5	Akamai T.	Cloudfla.
1M Rtn	3.9%	5.0%	4.5%	9.3%	-2.1%	2.6%	4.2%
3M Rtn	8.1%	19.1%	48.6%	-19.0%	17.8%	-7.1%	13.0%
6M Rtn	10.9%	24.5%	84.1%	-9.3%	11.6%	6.1%	11.2%
12M Rtn	27.1%	25.3%	76.8%	2.4%	-8.3%	80.0%	26.2%
3Y Rtn	-14.6%	20.9%	78.1%	86.0%	6.8%	362.9%	49.5%
1M Excs Rtn	2.3%	12.2%	6.9%	7.7%	-2.8%	1.1%	4.6%
3M Excs Rtn	3.2%	14.2%	43.6%	-24.0%	12.9%	-12.1%	8.0%
6M Excs Rtn	-2.0%	11.6%	71.2%	-22.1%	-1.3%	-6.8%	-1.6%
12M Excs Rtn	12.9%	8.9%	62.1%	-12.9%	-24.3%	63.0%	10.9%
3Y Excs Rtn	-96.7%	-61.8%	-0.4%	3.5%	-75.9%	268.1%	-31.1%

Comparison Analyses

	Title
0	NTCT Looks Stronger Than VIAV With 7.3% Return Potential
1	KEYS or NTCT - With 7.3% Return Forecast, NTCT Probably Deserves Your Money
2	NetScout Systems vs. Cisco: With Return Forecast Of 15%, NetScout Systems Is A Better Bet
3	NetScout Systems vs. Keysight Technologies: With Return Forecast Of 20%, Keysight Technologies Is A Better Bet
4	NetScout Systems vs. Penumbra: With Return Forecast Of 70%, Penumbra Is A Better Bet
5	NetScout Systems vs. Globus Medical: Both Seem Similar Bets
6	NetScout Systems vs. Alnylam Pharmaceuticals: With Return Forecast Of 80%, Alnylam Pharmaceuticals Is A Better Bet
7	NetScout Systems vs. World Wrestling Entertainment: Similar Market Cap, Similar Bets
8	NetScout Systems vs. Ingevity: Similar Market Cap, But Ingevity Is A Better Bet
9	NetScout Systems vs. Itron: Similar Market Cap, But Itron Is A Better Bet

FDIC Bank Data

Bank Capital

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Bank Deposits

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Bank Assets

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Bank Loans

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FDA Approved Drugs Data

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Financials

Annual
Quarterly

$ Mil \| FY: 3/31	LTM	2025	2024	2023	2022	2021	2020
Period End	9/30/2025	3/31/2025	3/31/2024	3/31/2023	3/31/2022	3/31/2021	3/31/2020
Filing Date	11/6/2025	5/15/2025	5/16/2024	5/16/2023	5/19/2022	5/20/2021	5/20/2020
Key Financials
Total Revenue	863	823	829	915	856	831	892
EBITDA	172	-295	-61	165	147	139	139
Operating Income	110	80	64	79	49	37	20
Net Income	90	-367	-148	60	36	19	-3
EPS	1.25	-5.12	-2.07	0.83	0.48	0.26	-0.04
Growth Rates
Total Revenue Growth	9.6%	-0.8%	-9.3%	6.9%	2.9%	-6.8%	-2.0%
EBITDA Growth	132.6%	-384.4%	-137.0%	12.2%	5.5%	0.3%	94.9%
Operating Income Growth	158.1%	25.5%	-19.9%	63.4%	30.8%	83.1%	369.2%
Net Income Growth	114.9%	-148.4%	-347.7%	66.3%	85.4%	802.7%	96.2%
Margins
EBITDA Margin	19.9%	-35.8%	-7.3%	18.0%	17.1%	16.7%	15.5%
Operating Income Margin	12.7%	9.7%	7.7%	8.7%	5.7%	4.5%	2.3%
Net Income Margin	10.4%	-44.6%	-17.8%	6.5%	4.2%	2.3%	-0.3%
Cash & Debt
Total Cash	517	491	423	419	703	476	386
Total Debt	44	44	150	160	415	424	531
Net Debt / (Cash)	-473	-448	-273	-259	-288	-53	145
Cash Flows
Net Cash from Operations	263	218	59	157	296	214	225
Free Cash from Operations	256	211	52	146	286	197	205
Returns to Shareholders
Dividends	0	-0	-0	-0	-0	-0	-0
Share Repurchases	32	25	50	150	36	3	175

$ Mil \| FY: 3/31	2026Q2	2026Q1	2025Q4	2025Q3	2025Q2	2025Q1	2024Q4	2024Q3	2024Q2	2024Q1	2023Q4	2023Q3
Period End	9/30/2025	6/30/2025	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022
Filing Date	11/6/2025	8/7/2025	5/15/2025	2/6/2025	11/1/2024	8/5/2024	5/16/2024	2/8/2024	11/2/2023	8/3/2023	5/16/2023	2/2/2023
Key Financials Quarterly
Total Revenue	219	187	205	252	191	175	203	218	197	211	208	270
Ebitda	49	15	31	78	33	-433	-18	-110	51	19	24	85
Operating Income	33	-6	20	63	17	-20	13	33	22	-5	2	64
Net Income	26	-4	19	49	9	-443	-32	-133	21	-4	-3	53
EPS	0.36	-0.05	0.26	0.68	0.13	-6.20	-0.46	-1.87	0.30	-0.06	-0.05	0.73
Key Financials TTM
Total Revenue TTM	863	835	823	821	787	793	829	834	886	917	915	898
Ebitda TTM	172	156	-291	-340	-528	-510	-59	-17	179	170	165	157
Operating Income TTM	110	94	80	73	43	49	64	52	83	82	79	70
Net Income TTM	90	73	-367	-418	-599	-587	-148	-119	67	63	60	54
Growth Rates Quarterly
Total Revenue Growth	14.6%	7.0%	0.8%	15.6%	-2.9%	-17.3%	-2.2%	-19.1%	-13.7%	1.1%	8.8%	2.8%
EBITDA Growth	48.1%	103.4%	267.8%	171.0%	-35.9%	-2403.4%	-176.6%	-229.9%	19.5%	44.9%	48.8%	4.6%
Operating Income Growth	98.3%	69.5%	55.5%	91.8%	-26.5%	-321.6%	715.0%	-48.8%	5.4%	36.1%	119.4%	15.1%
Net Income Growth	186.1%	99.2%	157.4%	136.8%	-57.9%	-10456.6%	-906.5%	-352.0%	23.5%	41.1%	61.7%	10.3%
Margins Quarterly
EBITDA Margin	22.2%	7.8%	14.9%	31.1%	17.2%	-247.9%	-9.0%	-50.6%	26.0%	8.9%	11.4%	31.5%
Operating Income Margin	15.0%	-3.2%	10.0%	24.9%	8.7%	-11.3%	6.5%	15.0%	11.4%	-2.2%	0.8%	23.7%
Net Income Margin	11.8%	-2.0%	9.1%	19.4%	4.7%	-254.0%	-15.9%	-60.8%	10.9%	-2.0%	-1.5%	19.5%
Cash & Debt
Total Cash	517	533	491	427	401	406	423	329	329	385	419	409
Total Debt	44	42	44	118	120	122	150	153	155	158	160	260
Net Debt / (Cash)	-473	-491	-448	-309	-280	-284	-273	-176	-173	-226	-259	-149
Cash Flows Quarterly
FCF from Operations	7	74	142	41	-4	38	94	14	-26	-22	113	46
Cash Flows TTM
FCF from Operations TTM	263	253	218	170	142	120	59	78	110	147	157	200
Returns to Shareholders Quarterly
Dividends	0	0	0	0	0	0	0	0	0	0	0	0
Share Repurchases	17	15	-0	-0	0	25	-0	19	31	-0	-0	-0
Return on Invested Capital (ROIC) Quarterly
ROIC	-	-	-	-	-	-	-	-	-	-	-	-
Return on Invested Capital (ROIC) TTM
ROIC TTM	-	-	-	-	-	-	-	-	-	-	-	-

Segment Financials

Revenue by Segment

$ Mil	2025	2024	2023	2022	2021
Service	469	464	445	454	453
Product	360	451	410	378	438
Total	829	915	856	831	892

Price Behavior

Price Behavior

Market Price	$27.88
Market Cap ($ Bil)	2.0
First Trading Date	08/12/1999
Distance from 52W High	-4.7%
	50 Days	200 Days
DMA Price	$27.17	$24.03
DMA Trend	up	up
Distance from DMA	2.6%	16.0%
	3M	1YR
Volatility	31.3%	31.8%
Downside Capture	55.53	100.69
Upside Capture	79.60	109.91
Correlation (SPY)	37.9%	57.2%

NTCT Betas & Captures as of 11/30/2025

	1M	2M	3M	6M	1Y	3Y
Beta	1.04	0.87	0.96	1.23	0.92	0.94
Up Beta	2.31	1.63	1.68	1.95	0.82	1.03
Down Beta	2.12	1.09	0.78	0.87	0.83	0.90
Up Capture	22%	69%	94%	116%	119%	44%
Bmk +ve Days	13	26	39	74	142	427
Stock +ve Days	8	22	34	64	122	350
Down Capture	83%	56%	81%	114%	103%	101%
Bmk -ve Days	7	16	24	52	107	323
Stock -ve Days	12	19	28	60	124	391

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively

Based On 1-Year Data

		Comparison of NTCT With Other Asset Classes (Last 1Y)
	NTCT	Sector ETF	Equity	Gold	Commodities	Real Estate	Bitcoin
Annualized Return	28.5%	26.7%	19.2%	71.9%	8.9%	6.0%	-10.1%
Annualized Volatility	31.6%	27.6%	19.5%	19.3%	15.3%	17.1%	35.0%
Sharpe Ratio	0.81	0.84	0.78	2.69	0.36	0.18	-0.12
Correlation With Other Assets		57.0%	56.8%	6.4%	16.6%	38.7%	30.3%

ETFs used for asset classes: Sector ETF = XLK, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
Smart multi-asset allocation framework can stack odds in your favor. Learn How

Based On 5-Year Data

		Comparison of NTCT With Other Asset Classes (Last 5Y)
	NTCT	Sector ETF	Equity	Gold	Commodities	Real Estate	Bitcoin
Annualized Return	1.1%	19.0%	14.9%	18.7%	11.7%	4.8%	32.7%
Annualized Volatility	32.6%	24.7%	17.1%	15.5%	18.7%	18.9%	48.7%
Sharpe Ratio	0.09	0.69	0.70	0.97	0.51	0.17	0.60
Correlation With Other Assets		41.8%	45.8%	6.0%	15.6%	37.1%	20.5%

Based On 10-Year Data

		Comparison of NTCT With Other Asset Classes (Last 10Y)
	NTCT	Sector ETF	Equity	Gold	Commodities	Real Estate	Bitcoin
Annualized Return	-0.9%	22.3%	14.7%	14.9%	6.9%	5.2%	69.3%
Annualized Volatility	34.6%	24.2%	18.0%	14.8%	17.6%	20.8%	55.8%
Sharpe Ratio	0.07	0.84	0.70	0.83	0.31	0.22	0.90
Correlation With Other Assets		46.2%	51.2%	3.1%	20.9%	40.8%	13.8%

Short Interest

Short Interest: As Of Date	12152025
Short Interest: Shares Quantity	1,800,672
Short Interest: % Change Since 11302025	-13.9%
Average Daily Volume	469,716
Days-to-Cover Short Interest	3.83
Basic Shares Quantity	72,077,000
Short % of Basic Shares	2.5%

Returns Analyses

	Title
0	How Low Can NetScout Systems Stock Really Go?
1	NetScout Systems Stock Return Comparison
2	NetScout Systems (NTCT) Stock Movement Probability: AI Predicts NTCT Stock Price To Move Down 0.07% In A Week
3	NetScout Systems (NTCT) Stock Return: AI Predicts NTCT Average and Excess Return After a Fall or Rise

Earnings Returns History

Expand for More

	Forward Returns
Earnings Date	1D Returns	5D Returns	21D Returns
11/6/2025	7.1%	3.3%	-1.2%
8/7/2025	-2.0%	6.7%	14.5%
5/8/2025	1.7%	6.8%	9.9%
1/30/2025	12.1%	10.4%	0.6%
10/24/2024	-2.1%	1.7%	3.2%
1/25/2024	6.0%	-0.8%	0.0%
10/16/2023	-16.6%	-20.6%	-23.5%
7/27/2023	-4.1%	-4.9%	-4.7%
...
SUMMARY STATS
# Positive	12	11	12
# Negative	10	11	10
Median Positive	6.5%	6.7%	8.4%
Median Negative	-2.2%	-3.9%	-9.9%
Max Positive	13.9%	12.3%	20.2%
Max Negative	-16.6%	-20.6%	-23.5%

	Forward Returns
11/6/2025	7.1%	3.3%	-1.2%
8/7/2025	-2.0%	6.7%	14.5%
5/8/2025	1.7%	6.8%	9.9%
1/30/2025	12.1%	10.4%	0.6%
10/24/2024	-2.1%	1.7%	3.2%
1/25/2024	6.0%	-0.8%	0.0%
10/16/2023	-16.6%	-20.6%	-23.5%
7/27/2023	-4.1%	-4.9%	-4.7%
5/4/2023	8.3%	12.0%	20.2%
1/26/2023	13.9%	2.1%	-9.5%
10/27/2022	-2.2%	-1.4%	6.2%
8/4/2022	-2.3%	-3.9%	-11.5%
5/5/2022	-0.2%	6.7%	13.7%
1/27/2022	7.0%	6.2%	6.9%
11/4/2021	0.2%	-1.8%	-10.3%
7/29/2021	0.3%	-6.7%	-4.9%
5/6/2021	0.8%	0.4%	15.6%
1/28/2021	-0.3%	-1.6%	-6.7%
10/29/2020	0.8%	-2.9%	13.7%
7/30/2020	-5.4%	-9.3%	-13.6%
4/16/2020	-3.1%	-4.2%	-11.1%
1/30/2020	9.6%	12.3%	4.6%
SUMMARY STATS
# Positive	12	11	12
# Negative	10	11	10
Median Positive	6.5%	6.7%	8.4%
Median Negative	-2.2%	-3.9%	-9.9%
Max Positive	13.9%	12.3%	20.2%
Max Negative	-16.6%	-20.6%	-23.5%

SEC Filings

Expand for More

Report Date	Filing Date	Filing
9302025	11062025	10-Q 9/30/2025
6302025	8072025	10-Q 6/30/2025
3312025	5152025	10-K 3/31/2025
12312024	2062025	10-Q 12/31/2024
9302024	11012024	10-Q 9/30/2024
6302024	8052024	10-Q 6/30/2024
3312024	5162024	10-K 3/31/2024
12312023	2082024	10-Q 12/31/2023
9302023	11022023	10-Q 9/30/2023
6302023	8032023	10-Q 6/30/2023
3312023	5162023	10-K 3/31/2023
12312022	2022023	10-Q 12/31/2022
9302022	11032022	10-Q 9/30/2022
6302022	8042022	10-Q 6/30/2022
3312022	5192022	10-K 3/31/2022
12312021	2032022	10-Q 12/31/2021

Insider Activity

Expand for More

	Owner	Title	Filing Date	Action	Price	Shares	Transacted Value	Value of Held Shares	Form
0	DOWNING JOHN	EVP, World-Wide Sales	11032025	Sell	27.80	3,000	83,400	3,850,133	Form

External Quote Links

0	Y Finance	Barrons
1	TradingView	Morningstar
2	SeekingAlpha	ValueLine
3	Motley Fool	Robinhood
4	CNBC	Etrade
5	MarketWatch	Unusual Whales
6	YCharts	Perplexity Finance
7	FinViz

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NetScout Systems (NTCT)

Market Price (12/26/2025): $27.7 | Market Cap: $2.0 BilSector: Information Technology | Industry: Communications Equipment

NetScout Systems (NTCT)

Market Price (12/26/2025): $27.7Market Cap: $2.0 BilSector: Information TechnologyIndustry: Communications Equipment

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

Valuation, Metrics & Events

NTCT Stock

Why The Stock Moved

Qualitative Assessment

Stock Movement Drivers

Fundamental Drivers

Market Drivers

Fundamental Drivers

Market Drivers

Fundamental Drivers

Market Drivers

Fundamental Drivers

Market Drivers

Return vs. Risk

Price Returns Compared

How Low Can It Go

In The Past

Preserve Wealth

Asset Allocation

About NetScout Systems (NTCT)

NetScout Systems (NTCT) Major Products and Services:

Interactive Breakdown

Better Bets than NetScout Systems (NTCT)

INDUSTRY: Communications Equipment

Higher Rev Chg 3Y Avg | Lower P/S (Values for NTCT: -0.7% | 2.3x)

Higher Rev Chg 3Y Avg | Lower P/Op Inc (Values for NTCT: -0.7% | 18.3x)

Higher Rev Chg LTM (Value for NTCT: 9.6%)

Higher Rev Chg 3Y Avg (Value for NTCT: -0.7%)

Higher Op Mgn LTM (Value for NTCT: 12.7%)

Higher CFO/Rev LTM (Value for NTCT: 30.5%)

Higher FCF/Rev LTM (Value for NTCT: 29.6%)

Higher Total Yield (Value for NTCT: 4.5%)

SECTOR: Information Technology

Higher Rev Chg 3Y Avg | Lower P/S (Values for NTCT: -0.7% | 2.3x)

Higher Rev Chg 3Y Avg | Lower P/Op Inc (Values for NTCT: -0.7% | 18.3x)

Higher Rev Chg LTM (Value for NTCT: 9.6%)

Higher Rev Chg 3Y Avg (Value for NTCT: -0.7%)

Higher Op Mgn LTM (Value for NTCT: 12.7%)

Higher CFO/Rev LTM (Value for NTCT: 30.5%)

Higher FCF/Rev LTM (Value for NTCT: 29.6%)

Higher Total Yield (Value for NTCT: 4.5%)

All Other Sectors

Higher Rev Chg 3Y Avg | Lower P/S (Values for NTCT: -0.7% | 2.3x)

Higher Rev Chg 3Y Avg | Lower P/Op Inc (Values for NTCT: -0.7% | 18.3x)

Higher Rev Chg LTM (Value for NTCT: 9.6%)

Higher Rev Chg 3Y Avg (Value for NTCT: -0.7%)

Higher Op Mgn LTM (Value for NTCT: 12.7%)

Higher CFO/Rev LTM (Value for NTCT: 30.5%)

Higher FCF/Rev LTM (Value for NTCT: 29.6%)

Higher Total Yield (Value for NTCT: 4.5%)

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Market Price (12/26/2025): $27.7 | Market Cap: $2.0 Bil
Sector: Information Technology | Industry: Communications Equipment

Market Price (12/26/2025): $27.7
Market Cap: $2.0 Bil
Sector: Information Technology
Industry: Communications Equipment