Netgear (NTGR)


Market Price (8/8/2026): $23.67 | Market Cap: $640.1 MilSector: Information Technology | Industry: Communications Equipment

Netgear (NTGR)


Market Price (8/8/2026): $23.67
Market Cap: $640.1 Mil
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 -35%

Low stock price volatility
Vol 12M is 45%

Megatrend and thematic drivers
Megatrends include 5G & Advanced Connectivity, and Smart Buildings & Proptech. Themes include Network Equipment, and IoT for Buildings.

Weak multi-year price returns
3Y Excs Rtn is -6.4%

Not profitable at operating income level
Op Inc LTMOperating Income, Last Twelve Months is -25 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -3.7%

Expensive valuation multiples
P/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 177x

Weak revenue growth
Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -6.2%, Rev Chg QQuarterly Revenue Change % is -1.2%

Not cash flow generative
FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -2.5%

Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -8.4%

Key risks
NTGR key risks include [1] gross margin pressure from specific supply constraints in managed switches and rising component costs, 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 -35%
1 Low stock price volatility
Vol 12M is 45%
2 Megatrend and thematic drivers
Megatrends include 5G & Advanced Connectivity, and Smart Buildings & Proptech. Themes include Network Equipment, and IoT for Buildings.
3 Weak multi-year price returns
3Y Excs Rtn is -6.4%
4 Not profitable at operating income level
Op Inc LTMOperating Income, Last Twelve Months is -25 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -3.7%
5 Expensive valuation multiples
P/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 177x
6 Weak revenue growth
Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -6.2%, Rev Chg QQuarterly Revenue Change % is -1.2%
7 Not cash flow generative
FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -2.5%
8 Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -8.4%
9 Key risks
NTGR key risks include [1] gross margin pressure from specific supply constraints in managed switches and rising component costs, Show more.

NTGR in ETFs

Weight = NTGR's share of each fund

ITOT0.00%
IWM0.02%
FNDA0.05%
ESML0.05%
IWN0.04%
VTWO0.02%
DFAS0.01%
SCHA0.01%
+4 more covered ETFs

Valuation & Metrics

Price Chart

Why The Stock Moved

Qualitative Assessment

AI Analysis | Feedback

Updated on 8/6/2026

Netgear (NTGR) stock has lost about 5% since 4/30/2026 because of the following key factors:

1. Declining Consumer Segment and Overall Revenue. Netgear's total net revenue for fiscal Q2 2026, which ended on June 28, 2026, was $168.6 million, marking a 1.2% decrease year over year. This was primarily driven by a 9.4% year-over-year decline in the consumer segment revenue, which fell to $79.6 million. The weakness in consumer products was attributed to memory-cost inflation, aggressive promotions, and supply constraints, overshadowing the 7.7% growth in the enterprise segment.

2. Cautious Fiscal Q3 2026 Outlook and Expected Margin Pressure. Management provided a conservative outlook for fiscal Q3 2026, projecting non-GAAP operating margins between negative 3% and 0%. This guidance anticipates continued pressure from elevated memory costs and tighter component availability, particularly impacting Q3, which likely tempered investor enthusiasm despite the fiscal Q2 2026 earnings exceeding expectations.

Show more
Updated on 8/6/2026

Netgear (NTGR) stock has lost about 5% since 4/30/2026 because of the following key factors:

1. Declining Consumer Segment and Overall Revenue. Netgear's total net revenue for fiscal Q2 2026, which ended on June 28, 2026, was $168.6 million, marking a 1.2% decrease year over year. This was primarily driven by a 9.4% year-over-year decline in the consumer segment revenue, which fell to $79.6 million. The weakness in consumer products was attributed to memory-cost inflation, aggressive promotions, and supply constraints, overshadowing the 7.7% growth in the enterprise segment.

2. Cautious Fiscal Q3 2026 Outlook and Expected Margin Pressure. Management provided a conservative outlook for fiscal Q3 2026, projecting non-GAAP operating margins between negative 3% and 0%. This guidance anticipates continued pressure from elevated memory costs and tighter component availability, particularly impacting Q3, which likely tempered investor enthusiasm despite the fiscal Q2 2026 earnings exceeding expectations.

3. Mixed Analyst Sentiment and Valuation Concerns. Despite Netgear's fiscal Q2 2026 non-GAAP EPS of $0.16 significantly beating analysts' consensus estimates (which ranged from $0.01 to $0.08), the stock maintains a consensus "Hold" recommendation from brokerages. While the average 12-month price target ranges from $35.00 to $36.00, suggesting potential upside, the stock has been trading well below its 52-week high of $36.86. This indicates lingering investor caution regarding long-term growth or profitability, despite recent operational beats.

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Stock Movement Drivers

Fundamental Drivers

The -6.3% change in NTGR stock from 4/30/2026 to 8/7/2026 was primarily driven by a -9.4% change in the company's P/S Multiple.
(LTM values as of)43020268072026Change
Stock Price ($)25.2723.67-6.3%
Change Contribution By: 
Total Revenues ($ Mil)700694-0.7%
P/S Multiple1.00.9-9.4%
Shares Outstanding (Mil)28274.1%
Cumulative Contribution-6.3%

LTM = Last Twelve Months as of date shown

Market Drivers

4/30/2026 to 8/7/2026
ReturnCorrelation
NTGR-6.3% 
Market (SPY)7.6%49.5%
Sector (XLK)17.8%57.2%

Fundamental Drivers

The 13.2% change in NTGR stock from 1/31/2026 to 8/7/2026 was primarily driven by a 7.7% change in the company's P/S Multiple.
(LTM values as of)13120268072026Change
Stock Price ($)20.9123.6713.2%
Change Contribution By: 
Total Revenues ($ Mil)700694-0.7%
P/S Multiple0.90.97.7%
Shares Outstanding (Mil)29275.9%
Cumulative Contribution13.2%

LTM = Last Twelve Months as of date shown

Market Drivers

1/31/2026 to 8/7/2026
ReturnCorrelation
NTGR13.2% 
Market (SPY)12.1%39.3%
Sector (XLK)30.8%47.8%

Fundamental Drivers

The 1.8% change in NTGR stock from 7/31/2025 to 8/7/2026 was primarily driven by a 6.2% change in the company's Shares Outstanding (Mil).
(LTM values as of)73120258072026Change
Stock Price ($)23.2523.671.8%
Change Contribution By: 
Total Revenues ($ Mil)6716943.5%
P/S Multiple1.00.9-7.3%
Shares Outstanding (Mil)29276.2%
Cumulative Contribution1.8%

LTM = Last Twelve Months as of date shown

Market Drivers

7/31/2025 to 8/7/2026
ReturnCorrelation
NTGR1.8% 
Market (SPY)23.4%42.7%
Sector (XLK)43.7%45.0%

Fundamental Drivers

The 73.5% change in NTGR stock from 7/31/2023 to 8/7/2026 was primarily driven by a 110.1% change in the company's P/S Multiple.
(LTM values as of)73120238072026Change
Stock Price ($)13.6423.6773.5%
Change Contribution By: 
Total Revenues ($ Mil)903694-23.1%
P/S Multiple0.40.9110.1%
Shares Outstanding (Mil)29277.4%
Cumulative Contribution73.5%

LTM = Last Twelve Months as of date shown

Market Drivers

7/31/2023 to 8/7/2026
ReturnCorrelation
NTGR73.5% 
Market (SPY)74.9%38.7%
Sector (XLK)114.7%36.3%

Return vs. Risk

Price Returns Compared

 202120222023202420252026Total [1]
Returns
NTGR Return-28%-38%-19%91%-12%-1%-40%
Peers Return49%-30%43%38%12%49%245%
S&P 500 Return27%-19%24%23%16%13%105%

Monthly Win Rates [3]
NTGR Win Rate42%17%50%75%33%62% 
Peers Win Rate68%33%55%63%58%62% 
S&P 500 Win Rate75%42%67%75%67%50% 

Max Drawdowns [4]
NTGR Max Drawdown-42%-43%-49%-27%-35%-22% 
Peers Max Drawdown-17%-40%-19%-19%-34%-21% 
S&P 500 Max Drawdown-5%-25%-10%-8%-19%-9% 


[1] Cumulative total returns since the beginning of 2021
[2] Peers: CSCO, QCOM, NTAP, FFIV, ANET. See NTGR 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] 2026 data is for the year up to 8/7/2026 (YTD)

How Low Can It Go

EventNTGRS&P 500
2025 US Tariff Shock
  % Loss-26.7%-18.8%
  % Gain to Breakeven36.4%23.1%
  Time to Breakeven27 days79 days
Summer-Fall 2023 Five Percent Yield Shock
  % Loss-26.8%-9.5%
  % Gain to Breakeven36.5%10.5%
  Time to Breakeven47 days24 days
2023 SVB Regional Banking Crisis
  % Loss-29.9%-6.7%
  % Gain to Breakeven42.7%7.1%
  Time to Breakeven499 days31 days
2022 Inflation Shock & Fed Tightening
  % Loss-41.3%-24.5%
  % Gain to Breakeven70.4%32.4%
  Time to Breakeven973 days427 days
2020 COVID-19 Crash
  % Loss-29.8%-33.7%
  % Gain to Breakeven42.5%50.9%
  Time to Breakeven12 days140 days
Q4 2018 Fed Policy Error / Growth Scare
  % Loss-22.4%-19.2%
  % Gain to Breakeven28.9%23.8%
  Time to Breakeven18 days105 days

Compare to CSCO, QCOM, NTAP, FFIV, ANET

In The Past

Netgear's stock fell -26.7% during the 2025 US Tariff Shock. Such a loss loss requires a 36.4% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

EventNTGRS&P 500
2025 US Tariff Shock
  % Loss-26.7%-18.8%
  % Gain to Breakeven36.4%23.1%
  Time to Breakeven27 days79 days
Summer-Fall 2023 Five Percent Yield Shock
  % Loss-26.8%-9.5%
  % Gain to Breakeven36.5%10.5%
  Time to Breakeven47 days24 days
2023 SVB Regional Banking Crisis
  % Loss-29.9%-6.7%
  % Gain to Breakeven42.7%7.1%
  Time to Breakeven499 days31 days
2022 Inflation Shock & Fed Tightening
  % Loss-41.3%-24.5%
  % Gain to Breakeven70.4%32.4%
  Time to Breakeven973 days427 days
2020 COVID-19 Crash
  % Loss-29.8%-33.7%
  % Gain to Breakeven42.5%50.9%
  Time to Breakeven12 days140 days
Q4 2018 Fed Policy Error / Growth Scare
  % Loss-22.4%-19.2%
  % Gain to Breakeven28.9%23.8%
  Time to Breakeven18 days105 days
2016-2017 Trump Reflation Bond Selloff
  % Loss-29.9%-3.7%
  % Gain to Breakeven42.6%3.9%
  Time to Breakeven202 days6 days
2011 US Debt Ceiling Crisis & European Contagion
  % Loss-41.0%-17.9%
  % Gain to Breakeven69.5%21.8%
  Time to Breakeven108 days123 days
2010 Eurozone Sovereign Debt Crisis / Flash Crash
  % Loss-38.2%-15.4%
  % Gain to Breakeven61.7%18.2%
  Time to Breakeven110 days125 days
2008-2009 Global Financial Crisis
  % Loss-76.6%-53.4%
  % Gain to Breakeven327.4%114.4%
  Time to Breakeven688 days1085 days
Summer 2007 Credit Crunch
  % Loss-32.2%-8.6%
  % Gain to Breakeven47.4%9.5%
  Time to Breakeven1330 days47 days

Compare to CSCO, QCOM, NTAP, FFIV, ANET

In The Past

Netgear's stock fell -26.7% during the 2025 US Tariff Shock. Such a loss loss requires a 36.4% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About Netgear (NTGR)

Netgear, Inc. (NTGR) is a technology company that designs, develops, and markets a broad range of networking and Internet-connected products. The company operates through two primary segments: Connected Home, which serves individual consumers, and Small and Medium Business, which caters to various organizational clients.

For its Connected Home segment, Netgear offers essential products that power modern households. These include Wi-Fi routers, comprehensive home Wi-Fi systems, broadband modems, and Wi-Fi range extenders, all designed to enhance internet access and connectivity within the home. Beyond hardware, Netgear also provides value-added services such as technical support, robust parental controls, and cybersecurity protection, ensuring a secure and optimized online experience for consumers.

In the Small and Medium Business segment, Netgear provides critical networking infrastructure for enterprises. Its product portfolio encompasses Ethernet switches, Wi-Fi mesh systems and access points for reliable wireless connectivity, local and remote unified storage solutions, and Internet security appliances. These offerings are tailored to meet the networking needs of small and medium-sized businesses, as well as specific markets like education, hospitality, and healthcare, across global regions including the Americas, Europe, the Middle East, Africa, and Asia Pacific.

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Netgear is like Cisco for the home and small business.

They are the HP or Dell for network equipment in homes and small offices.

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  • Wi-Fi Routers and Home Wi-Fi Systems: Devices that provide wireless internet connectivity and comprehensive Wi-Fi coverage for homes.
  • Broadband Modems and Wi-Fi Gateways: Equipment used to connect residential networks to internet service providers, often integrating modem and router functionalities.
  • Wi-Fi Extenders and Adapters: Devices designed to expand the range of Wi-Fi signals or enable wireless connectivity for non-Wi-Fi enabled devices.
  • Powerline Adapters: Products that extend network connectivity to various rooms using a home's existing electrical wiring.
  • Digital Canvases: Internet-connected displays designed for showcasing digital artwork or photos.
  • Ethernet Switches: Networking hardware for connecting multiple wired devices and managing network traffic in business environments.
  • Business Wi-Fi Systems and Access Points: Professional-grade wireless networking solutions tailored for small and medium-sized businesses.
  • Unified Storage Products: Solutions for both local and remote data storage and management for businesses.
  • Internet Security Appliances: Devices offering advanced network security features to protect business networks from online threats.
  • Technical Support: A service providing assistance with product setup, usage, and troubleshooting.
  • Parental Controls: A service offering features to manage and filter internet access for family members, particularly children.
  • Cybersecurity Protection: A service designed to safeguard networks and connected devices from various online security risks.

AI Analysis | Feedback

Netgear (NTGR) primarily sells its products to other companies, which then distribute or resell to end-consumers or small/medium businesses. Its major customers fall into the following categories:

  • Retailers and Online Retailers: Companies that purchase Netgear products in bulk to sell directly to consumers. Examples include:
    • Amazon (NASDAQ: AMZN)
    • Best Buy (NYSE: BBY)
    • Walmart (NYSE: WMT)
  • Wholesale Distributors: Businesses that buy products from Netgear and then sell them to various retailers, resellers, or directly to businesses. Examples include:
    • TD SYNNEX (NYSE: SNX) (parent company of Tech Data)
    • Ingram Micro (private company)
  • Broadband Service Providers (ISPs): Telecommunications companies that purchase Netgear modems, routers, and Wi-Fi systems to provide to their subscribers, often bundled with internet services. Examples include:
    • Comcast (NASDAQ: CMCSA)
    • Charter Communications (NASDAQ: CHTR)
    • AT&T (NYSE: T)
  • Direct Market Resellers (DMRs) and Value-Added Resellers (VARs): Companies that purchase Netgear's business-focused networking equipment (switches, access points, storage) to resell to small and medium businesses, educational institutions, and other commercial clients, often adding their own services. Examples include:
    • CDW (NASDAQ: CDW)
    • Insight Enterprises (NASDAQ: NSIT)

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Charles "CJ" Prober, Chief Executive Officer and Director

Charles "CJ" Prober joined NETGEAR as CEO in January 2024. He has extensive experience in scaling technology businesses and delivering innovative solutions. Prior to NETGEAR, Prober was President of Life360 and previously served as CEO at Tile, which was acquired by Life360 in January 2022. His career also includes executive leadership roles such as Chief Operating Officer at GoPro and SVP of Digital Publishing at Electronic Arts (EA). He was instrumental in EA's transformation from a packaged software to a digital services company. Earlier in his career, Prober was a consultant with McKinsey & Company and a corporate attorney. He currently sits on the Board of Directors for Life360 and Glorious Gaming.

Bryan Murray, Chief Financial Officer

Bryan Murray has served as NETGEAR's Chief Financial Officer since August 2018. He has been with NETGEAR for over 16 years, holding various management positions within the Finance organization, including Vice President of Finance and Corporate Controller before becoming CFO. Prior to joining NETGEAR in 2001, Murray worked in public accounting at Deloitte. He is a Certified Public Accountant and holds a B.A. from the University of California, Santa Barbara.

Pramod Badjate, President & General Manager of NETGEAR for Business Products

Pramod Badjate brings extensive experience in leading large networking businesses to his role. Before joining NETGEAR, he was the Group Vice President and General Manager for the Cognitive Campus business at Arista Networks. His career in enterprise networking also includes positions at Cisco and Ruckus Networks.

Kirsten Daru, General Counsel and Chief Privacy Officer

Kirsten Daru joined NETGEAR in May 2024. She has a strong background serving in similar roles with leading technology companies. Daru spent over 11 years at Electronic Arts (EA), where she was appointed its first Chief Privacy Officer. She also served as General Counsel of Tile and later as General Counsel of the combined company after Tile merged with Life360.

Heidi Cormack, Chief Marketing Officer

Heidi Cormack currently serves as NETGEAR's Chief Marketing Officer. She has been with the company for over 10 years, having held various management roles within the Marketing department.

AI Analysis | Feedback

Netgear (NTGR) faces several significant risks to its business, primarily stemming from the highly competitive and rapidly evolving technology markets in which it operates. Here are the key risks identified:
  1. Intense Competition and Market Commoditization: Netgear operates in highly competitive markets for both consumer and business networking products. In the consumer segment, the market is intensely commoditized, with numerous competitors offering comparable or superior products at lower price points, leading to significant pressure on Netgear's revenues and margins. Competitors include TP-Link, Linksys, ASUS, Eero, Cisco, Ubiquiti Networks, and Aruba.

  2. Supply Chain Disruptions and Rising Component Costs: The company is vulnerable to global supply chain issues and escalating costs for key components. A prominent current example is a global memory shortage, driven by AI data center demand, which is expected to increase costs and squeeze gross margins, particularly in the latter half of 2026. These supply constraints can limit revenue capture across both consumer and enterprise segments.

  3. Dependence on Hardware Sales and Shifting Consumer Demand: Netgear's business is heavily reliant on the sale of networking hardware, which is subject to cyclical market demand and rapid technological obsolescence. The consumer market, in particular, has seen declining revenues, with consumers extending the lifespan of existing equipment and delaying upgrades to newer technologies like Wi-Fi 7. While Netgear is expanding subscription services, these have not yet fully offset the challenges in its traditional hardware business.

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NETGEAR, Inc. operates in two primary segments: Connected Home and Small and Medium Business. The addressable markets for its main products and services are sized as follows:

Connected Home Segment

  • Wi-Fi Routers: The global wireless router market was valued at approximately USD 17.03 billion in 2025 and is projected to reach USD 48.76 billion by 2034. Separately, the global home Wi-Fi router market was valued at USD 19.2 billion in 2024 and is projected to reach USD 37.26 billion by 2033.
  • Home Wi-Fi Systems (Mesh Wi-Fi): The global Whole Home Mesh WiFi System market is projected to reach approximately USD 10.02 billion in 2025, growing at a Compound Annual Growth Rate (CAGR) of 13.6% from 2025 to 2033. Another estimate indicates the global Mesh Wi-Fi Router Market size was valued at USD 2.69 billion in 2024 and is expected to grow to USD 9.8 billion by 2035.
  • Broadband Modems: The global modem market size was valued at USD 10.49 billion in 2024 and is projected to grow to USD 14.63 billion by 2032. The global mobile broadband modem market was valued at USD 24.35 billion in 2025 and is projected to reach USD 62.9 billion by 2035.
  • Wi-Fi Range Extenders: The global Wi-Fi range extender market size was estimated at USD 3.65 billion in 2025 and is projected to reach USD 7.04 billion by 2033.
  • Powerline Adapters and Bridges: The global Powerline Extender Market is estimated to be valued at approximately USD 3.93 billion in 2026 and is projected to reach USD 8.09 billion by 2035. The global powerline adapter market was valued at approximately USD 1.5 billion in 2023 and is projected to reach around USD 3.7 billion by 2032.
  • Value-Added Services (Parental Controls and Cybersecurity Protection for Home):
    • Parental Control Software: The global parental control software market size was valued at USD 1.57 billion in 2025 and is projected to grow to USD 4.12 billion by 2034.
    • Connected Home/Home Security: The global connected home security market size is likely to be valued at USD 47.6 billion in 2025 and is estimated to reach USD 77 billion by 2032. The global home security systems market size was over USD 59.75 billion in 2025 and is poised to exceed USD 119.75 billion by 2035.

Small and Medium Business (SMB) Segment

  • Ethernet Switches: The global SMB Switch market is projected to reach USD 2.36 billion by 2033, growing from an estimated USD 2.36 billion in 2025. More broadly, the global ethernet switch market was valued at USD 18.2 billion in 2024 and is estimated to grow to USD 29.6 billion by 2034.
  • Wi-Fi Mesh Systems and Access Points: While the global Mesh WiFi Router market has strong residential deployment, approximately 39% of total installations serve commercial and enterprise networks.
  • Local and Remote Unified Storage Products (NAS for SMB): The global SMB & SME NAS market is estimated to be valued at USD 0.2 billion in 2026 and is projected to reach USD 0.8 billion by 2035. The global consumer and SMB NAS market size has grown to USD 18.57 billion in 2026 and is expected to reach USD 26.41 billion in 2030. The broader global network-attached storage (NAS) market was valued at USD 46.97 billion in 2025 and is projected to grow to USD 173.12 billion by 2034, with the mid-size segment (less than 1,000 FTEs) holding the highest market share.
  • Internet Security Appliances: The global SMB integrated security appliances market is projected to reach USD 5.8 billion by 2031, growing at a CAGR of 7.3% from 2025 to 2031, from an estimated USD 3.2 billion in 2024. The broader global security appliances market size reached USD 145.8 billion in 2024 and is expected to reach USD 370.3 billion by 2033.

AI Analysis | Feedback

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Netgear (NTGR) is expected to drive future revenue growth over the next 2-3 years through several key initiatives and market trends:

  • Expansion and Focus on the Enterprise Segment, particularly ProAV Solutions: Netgear is prioritizing and seeing significant growth in its Enterprise segment (formerly Small and Medium Business), with a strong focus on ProAV managed switches. This segment achieved 18.8% annual growth in 2025 and is projected for continued double-digit growth. The company is actively expanding its ProAV ecosystem and simplifying solutions for small and medium-sized enterprises (SMEs).
  • Aggressive Rollout of Wi-Fi 7 Products in the Consumer Segment: Netgear is strategically expanding its Wi-Fi 7 offerings in the Connected Home (now Consumer) segment, launching new Nighthawk routers and Orbi mesh systems. This initiative aims to capture new market segments and reclaim market share, leveraging the rising consumer demand for advanced Wi-Fi 7 technology.
  • Growth in Recurring Revenue from Subscription Services: The company is focused on increasing its Annual Recurring Revenue (ARR) through value-added services such as technical support, parental controls, and the Armor cybersecurity offering. Netgear reported $40.4 million in ARR by the end of Q4 2025, representing an 18% year-over-year increase, with a growing base of recurring subscribers.
  • Integration of Advanced Security and AI-driven Networking Solutions: Netgear is enhancing its offerings by integrating advanced, cloud-managed security features and leveraging AI-driven advancements. This is supported by acquisitions like VAAG Systems and investments in software development, particularly for simplifying networking solutions for SMEs.
  • Strategic Price Increases and Favorable Product Mix: To offset rising component costs, particularly due to memory shortages, Netgear plans to implement price increases in its enterprise sector. Additionally, an advantageous product mix, especially with Wi-Fi 7 products and a focus on higher-margin direct-to-consumer channels in the consumer segment, is expected to contribute to revenue and gross margin improvements.
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Share Repurchases

  • Netgear repurchased $50 million of common stock in 2025.
  • The company executed ongoing share repurchases totaling $84 million since 2024.
  • As of February 2026, 1.5 million shares remained under the existing share repurchase authorization.

Share Issuance

  • The number of outstanding shares was 28,638,000 as of March 2026 and at the end of 2025.
  • Share issuances have occurred through insider sales to cover tax liabilities associated with the vesting of equity awards.

Inbound Investments

  • Cinctive Capital Management LP acquired a new position in NETGEAR during the third quarter of 2026, purchasing 198,597 shares valued at approximately $6.43 million, resulting in a 0.70% ownership stake.
  • Brandes Investment Partners, L.P. reported beneficial ownership of 1,594,528 common shares in August 2025, representing 5.54% of the outstanding class.

Outbound Investments

  • In 2025, Netgear strengthened its enterprise division by acquiring two software teams.
  • The company acquired a perpetual license for its Pro AV operating system to drive long-term margin expansion.
  • Netgear has historically made, and expects to continue making, acquisitions as part of its business growth strategy.

Capital Expenditures

  • Capital expenditures were $9.86 million in 2021, $5.76 million in 2022, $5.80 million in 2023, and $8.99 million in 2024.
  • The latest value for Capital Expenditure (LTM - Last Twelve Months) was $0.87 million as of March 6, 2024.
  • Netgear is investing in its highest-growth opportunities and increasing resources for software research and development.

Better Bets vs. Netgear (NTGR)

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Peer Comparisons

Peers to compare with:

Financials

NTGRCSCOQCOMNTAPFFIVANETMedian
NameNetgear Cisco Sy.Qualcomm NetApp F5 Arista N. 
Mkt Price23.67121.43167.86189.52400.23188.67178.26
Mkt Cap0.6479.9177.437.722.7237.7107.6
Rev LTM69460,74644,0696,9253,30910,5418,733
Op Inc LTM-2514,40810,2581,6958264,5473,121
FCF LTM-1711,78810,4161,8699705,1553,512
FCF 3Y Avg6712,33411,5351,5798743,9432,761
CFO LTM413,02512,4012,0671,0495,3073,687
CFO 3Y Avg8013,27712,9031,7539244,0272,890

Growth & Margins

NTGRCSCOQCOMNTAPFFIVANETMedian
NameNetgear Cisco Sy.Qualcomm NetApp F5 Arista N. 
Rev Chg LTM-0.5%9.2%1.9%5.4%9.4%32.6%7.3%
Rev Chg 3Y Avg-6.2%3.5%4.8%2.9%5.8%26.2%4.2%
Rev Chg Q-1.2%12.0%-4.0%12.5%10.9%37.7%11.4%
QoQ Delta Rev Chg LTM-0.3%2.9%-0.9%3.2%2.6%8.6%2.7%
Op Inc Chg LTM19.4%19.0%-15.9%18.9%8.3%32.6%19.0%
Op Inc Chg 3Y Avg3.0%0.8%-0.6%13.6%20.9%33.8%8.3%
Op Mgn LTM-3.7%23.7%23.3%24.5%25.0%43.1%24.1%
Op Mgn 3Y Avg-5.5%24.0%25.6%22.1%24.5%42.5%24.3%
QoQ Delta Op Mgn LTM0.1%0.5%-2.3%1.3%-0.1%0.3%0.2%
CFO/Rev LTM0.5%21.4%28.1%29.8%31.7%50.3%29.0%
CFO/Rev 3Y Avg11.5%23.2%31.3%26.5%30.3%48.2%28.4%
FCF/Rev LTM-2.5%19.4%23.6%27.0%29.3%48.9%25.3%
FCF/Rev 3Y Avg9.6%21.6%28.1%23.9%28.6%47.2%26.0%

Valuation

NTGRCSCOQCOMNTAPFFIVANETMedian
NameNetgear Cisco Sy.Qualcomm NetApp F5 Arista N. 
Mkt Cap0.6479.9177.437.722.7237.7107.6
P/S0.97.94.05.46.922.66.2
P/Op Inc-25.233.317.322.327.552.324.9
P/EBIT-25.230.914.921.527.552.324.5
P/E-24.940.119.229.631.358.830.4
P/CFO177.236.814.318.221.644.829.2
Total Yield-4.0%3.9%7.4%4.5%3.2%1.7%3.5%
Dividend Yield0.0%1.4%2.2%1.1%0.0%0.0%0.5%
FCF Yield 3Y Avg11.7%4.5%5.9%6.0%5.5%2.7%5.7%
D/E0.10.10.10.10.00.00.1
Net D/E-0.30.00.0-0.0-0.1-0.1-0.0

Returns

NTGRCSCOQCOMNTAPFFIVANETMedian
NameNetgear Cisco Sy.Qualcomm NetApp F5 Arista N. 
1M Rtn7.6%6.7%-10.0%14.9%-4.5%4.2%5.4%
3M Rtn-13.8%26.2%-23.1%61.1%13.0%33.1%19.6%
6M Rtn15.5%44.5%23.5%84.9%44.7%37.2%40.9%
12M Rtn-4.3%77.3%17.5%85.7%26.2%35.5%30.8%
3Y Rtn77.8%147.7%52.3%158.0%150.4%318.2%149.1%
1M Excs Rtn0.3%-0.2%-15.0%7.9%-9.8%-0.7%-0.4%
3M Excs Rtn-14.3%26.5%-22.6%62.5%10.3%27.4%18.4%
6M Excs Rtn5.0%34.7%10.3%77.7%33.5%32.5%33.0%
12M Excs Rtn-27.0%56.8%-4.7%64.4%2.3%13.7%8.0%
3Y Excs Rtn-6.4%78.1%-33.3%84.2%80.0%253.8%79.0%

Financials

Segment Financials

Revenue by Segment
$ Mil20252024202320222021
Home Networking358386447559853
Enterprise342288294374315
Total7006747419321,168


Operating Income by Segment
$ Mil2015
Retail85
Commercial53
Service Provider39
Corporate and unallocated costs-92
Total85


Price Behavior

Price Behavior
Market Price$23.67 
Market Cap ($ Bil)0.7 
First Trading Date07/31/2003 
Distance from 52W High-34.3% 
   50 Days200 Days
DMA Price$23.94$24.32
DMA Trenddowndown
Distance from DMA-1.1%-2.7%
 3M1YR
Volatility44.7%45.1%
Downside Capture229.01170.34
Upside Capture119.28125.14
Correlation (SPY)51.2%41.7%
NTGR Betas & Captures as of 7/31/2026

 1M2M3M6M1Y3Y
Beta1.961.701.771.331.541.27
Up Beta2.190.530.630.571.221.31
Down Beta2.282.232.181.931.771.23
Up Capture216%179%181%164%169%196%
Bmk +ve Days11223567138427
Stock +ve Days13243467130374
Down Capture154%187%201%128%141%106%
Bmk -ve Days11212859114326
Stock -ve Days8182857119368

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with NTGR
NTGR-4.8%45.0%0.02-
Sector ETF (XLK)43.7%25.9%1.3644.3%
Equity (SPY)23.3%12.8%1.3641.4%
Gold (GLD)28.5%28.4%0.877.1%
Commodities (DBC)32.9%19.8%1.32-9.8%
Real Estate (VNQ)14.2%13.8%0.7211.3%
Bitcoin (BTCUSD)-44.2%42.9%-1.2332.5%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with NTGR
NTGR-7.6%45.3%-0.03-
Sector ETF (XLK)20.5%25.8%0.7139.6%
Equity (SPY)13.5%17.2%0.6141.7%
Gold (GLD)18.6%18.6%0.817.3%
Commodities (DBC)8.2%19.6%0.315.8%
Real Estate (VNQ)2.3%18.9%0.0230.7%
Bitcoin (BTCUSD)8.8%53.0%0.3519.2%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with NTGR
NTGR-3.5%43.6%0.07-
Sector ETF (XLK)24.6%24.9%0.8940.4%
Equity (SPY)15.4%17.9%0.7341.3%
Gold (GLD)12.1%16.2%0.617.1%
Commodities (DBC)7.4%18.0%0.3310.5%
Real Estate (VNQ)4.8%20.7%0.2030.8%
Bitcoin (BTCUSD)58.2%66.2%0.9813.5%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Short Interest

Short Interest: As Of Date7152026
Short Interest: Shares Quantity2.5 Mil
Short Interest: % Change Since 6302026-0.4%
Average Daily Volume0.3 Mil
Days-to-Cover Short Interest9.3 days
Basic Shares Quantity27.0 Mil
Short % of Basic Shares9.1%

Earnings Returns History

Updated 8/6/2026
Expand for More
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
4/29/2026-2.4%-1.3%0.4%
2/4/2026-1.5%1.8%0.5%
10/29/20250.8%-12.8%-23.1%
7/30/2025-5.7%0.8%8.6%
4/30/202516.1%18.9%21.6%
2/5/20251.3%4.5%-17.2%
10/30/20246.0%13.6%19.0%
7/31/20243.5%-5.4%2.3%
...
SUMMARY STATS   
# Positive81010
# Negative151313
Median Positive4.7%3.1%5.4%
Median Negative-4.4%-7.1%-11.7%
Max Positive22.6%31.8%24.7%
Max Negative-21.2%-22.5%-23.1%
Collapse to Preview
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
4/29/2026-2.4%-1.3%0.4%
2/4/2026-1.5%1.8%0.5%
10/29/20250.8%-12.8%-23.1%
7/30/2025-5.7%0.8%8.6%
4/30/202516.1%18.9%21.6%
2/5/20251.3%4.5%-17.2%
10/30/20246.0%13.6%19.0%
7/31/20243.5%-5.4%2.3%
5/1/2024-21.2%-22.5%-7.6%
2/7/2024-7.8%-0.5%1.8%
10/25/202319.7%16.0%24.7%
7/26/2023-3.5%-1.0%-12.0%
4/26/2023-13.7%-18.5%-18.7%
2/1/2023-6.0%-5.6%-11.4%
10/26/2022-8.7%-10.2%-10.0%
7/27/202222.6%31.8%22.0%
4/27/20222.5%1.5%-11.7%
2/2/2022-0.8%-7.1%-7.3%
10/27/2021-3.3%-4.0%-15.0%
7/21/2021-9.5%-10.3%-6.1%
4/21/2021-3.2%0.6%2.0%
2/3/2021-4.4%0.9%-8.0%
10/21/2020-3.8%-10.4%-13.9%
SUMMARY STATS   
# Positive81010
# Negative151313
Median Positive4.7%3.1%5.4%
Median Negative-4.4%-7.1%-11.7%
Max Positive22.6%31.8%24.7%
Max Negative-21.2%-22.5%-23.1%

SEC Filings

Expand for More
Report DateFiling DateFiling
06/30/202608/06/202610-Q
03/31/202605/01/202610-Q
12/31/202502/13/202610-K
09/30/202510/31/202510-Q
06/30/202508/01/202510-Q
03/31/202505/02/202510-Q
12/31/202402/14/202510-K
09/30/202411/01/202410-Q
06/30/202408/02/202410-Q
03/31/202405/03/202410-Q
12/31/202302/16/202410-K
09/30/202311/03/202310-Q
06/30/202308/04/202310-Q
03/31/202305/05/202310-Q
12/31/202202/17/202310-K
09/30/202211/04/202210-Q
Collapse to Preview
Report DateFiling DateFiling
06/30/202608/06/202610-Q
03/31/202605/01/202610-Q
12/31/202502/13/202610-K
09/30/202510/31/202510-Q
06/30/202508/01/202510-Q
03/31/202505/02/202510-Q
12/31/202402/14/202510-K
09/30/202411/01/202410-Q
06/30/202408/02/202410-Q
03/31/202405/03/202410-Q
12/31/202302/16/202410-K
09/30/202311/03/202310-Q
06/30/202308/04/202310-Q
03/31/202305/05/202310-Q
12/31/202202/17/202310-K
09/30/202211/04/202210-Q
06/30/202208/05/202210-Q
03/31/202205/06/202210-Q
12/31/202102/18/202210-K
09/30/202111/05/202110-Q
06/30/202107/30/202110-Q
03/31/202104/30/202110-Q
12/31/202002/16/202110-K
09/30/202010/30/202010-Q
06/30/202007/31/202010-Q
03/31/202005/01/202010-Q
12/31/201902/18/202010-K
09/30/201911/01/201910-Q

Recent Forward Guidance

Updated 8/7/2026

Latest: Q2 2026 Earnings Reported 8/6/2026

Forward GuidanceGuidance Change
MetricLowMidHigh% Chg% DeltaChangePrior
Q3 2026 Revenue165.00 Mil170.00 Mil175.00 Mil7.9% Higher NewGuidance: 157.50 Mil for Q2 2026
Q3 2026 Service Provider Net Revenue 22.00 Mil 22.2% Higher NewGuidance: 18.00 Mil for Q2 2026
Q3 2026 GAAP Operating Margin-12.0%-10.5%-9.0% -3.6%Lower NewGuidance: -6.9% for Q2 2026
Q3 2026 Non-GAAP Operating Margin-3.0%-1.5%0.0% -2.0%Lower NewGuidance: 0.5% for Q2 2026
Q3 2026 GAAP Tax Expense0.50 Mil1.00 Mil1.50 Mil-23.1% Lower NewGuidance: 1.30 Mil for Q2 2026
Q3 2026 Non-GAAP Tax Expense1.00 Mil1.50 Mil2.00 Mil50.0% Higher NewGuidance: 1.00 Mil for Q2 2026

Prior: Q1 2026 Earnings Reported 4/29/2026

Forward GuidanceGuidance Change
MetricLowMidHigh% Chg% DeltaChangePrior
Q2 2026 Revenue150.00 Mil157.50 Mil165.00 Mil3.3% Higher NewGuidance: 152.50 Mil for Q1 2026
Q2 2026 GAAP Operating Margin-8.4%-6.9%-5.4% 7.9%Higher NewGuidance: -14.8% for Q1 2026
Q2 2026 Non-GAAP Operating Margin-1.0%0.5%2.0% 5.0%Higher NewGuidance: -4.5% for Q1 2026
Q2 2026 GAAP Tax Expense0.80 Mil1.30 Mil1.80 Mil-13.3% Lower NewGuidance: 1.50 Mil for Q1 2026
Q2 2026 Non-GAAP Tax Expense0.50 Mil1.00 Mil1.50 Mil25.0% Higher NewGuidance: 0.80 Mil for Q1 2026
Q2 2026 Service Provider Revenue 18.00 Mil    

Q4 2025 Earnings Reported 2/4/2026

Forward GuidanceGuidance Change
MetricLowMidHigh% Chg% DeltaChangePrior
Q1 2026 Revenue145.00 Mil152.50 Mil160.00 Mil-14.1% Lower NewGuidance: 177.50 Mil for Q4 2025
Q1 2026 GAAP Operating Margin-16.3%-14.8%-13.3% -9.0%Lower NewGuidance: -5.8% for Q4 2025
Q1 2026 Non-GAAP Operating Margin-6.0%-4.5%-3.0% -4.0%Lower NewGuidance: -0.5% for Q4 2025
Q1 2026 GAAP Tax Expense1.00 Mil1.50 Mil2.00 Mil  Higher NewGuidance: 0 for Q4 2025
Q1 2026 Non-GAAP Tax Expense0.30 Mil0.80 Mil1.30 Mil-20.0% Lower NewGuidance: 1.00 Mil for Q4 2025

Q3 2025 Earnings Reported 10/29/2025

Forward GuidanceGuidance Change
MetricLowMidHigh% Chg% DeltaChangePrior
Q4 2025 Revenue170.00 Mil177.50 Mil185.00 Mil2.9% Higher NewActual: 172.50 Mil for Q3 2025
Q4 2025 GAAP Operating Margin-7.3%-5.8%-4.3% 3.7%Higher NewActual: -9.5% for Q3 2025
Q4 2025 Non-GAAP Operating Margin-2.0%-0.5%1.0% 3.5%Higher NewActual: -4.0% for Q3 2025
Q4 2025 GAAP Tax Expense-0.50 Mil00.50 Mil-100.0% Lower NewActual: 1.30 Mil for Q3 2025
Q4 2025 Non-GAAP Tax Expense0.50 Mil1.00 Mil1.50 Mil  Higher NewActual: 0 for Q3 2025

Insider Activity

Updated 8/6/2026
Expand for More
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Badjate, PramodPresident & GM, NFBDirectSell804202623.883,00071,6303,678,750Form
2Durr, LauraDirectSell603202626.761,00026,7601,125,499Form
3Goli, ShravanDirectSell603202626.893,38190,901695,189Form
4Butterfass, SarahDirectSell603202626.902,70472,7381,047,836Form
5Durr, LauraDirectSell603202625.942,00051,8801,116,950Form
Collapse to Preview
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Badjate, PramodPresident & GM, NFBDirectSell804202623.883,00071,6303,678,750Form
2Durr, LauraDirectSell603202626.761,00026,7601,125,499Form
3Goli, ShravanDirectSell603202626.893,38190,901695,189Form
4Butterfass, SarahDirectSell603202626.902,70472,7381,047,836Form
5Durr, LauraDirectSell603202625.942,00051,8801,116,950Form
6Badjate, PramodPresident & GM, NFBDirectSell504202625.473,00076,4104,215,616Form
7Badjate, PramodPresident & GM, NFBDirectSell203202620.973,00062,9103,031,968Form
8Badjate, PramodPresident & GM, NFBDirectSell1121202524.604,00098,4003,821,881Form
9McLindin, GraemeVP, MobileDirectSell1105202534.261,20541,2831,055,482Form
10Maiorino, BradleyDirectSell1014202535.2613,063460,6011,987,113Form
11Goli, ShravanDirectSell1001202529.952,04761,308875,678Form
12Goli, ShravanDirectSell826202526.1111,757306,923816,713Form
13McLindin, GraemeVP, MobileDirectSell805202522.624179,433724,134Form
Core Cache Last Updated: 8/7/2026