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NetApp (NTAP)

Market Price (10/28/2025): $117.19 | Market Cap: $23.6 Bil
Sector: Information Technology | Industry: Technology Hardware, Storage & Peripherals

NetApp (NTAP)

Market Price (10/28/2025): $117.19
Market Cap: $23.6 Bil
Sector: Information Technology
Industry: Technology Hardware, Storage & Peripherals

Investment Highlights Why It Matters Which of these 2 stories sounds closer for this stock?

1. Generates cash flow

The stock generated 4% or more of the share price (called cash flow yield), and shows moderate 10-15% or more growth.

2. Riding a trend

Think Tesla during the pandemic of 2020 when EVs were riding a cultural high, or Nvidia in the current AI boom, or even Figma. These companies don’t have enough yield, or, enough growth, or both - however - they are riding a trend. They have momentum. These can be more volatile - they don’t have the floor of strong cash flow

0 Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 6.8%, FCF Yield is 7.0%		  Weak revenue growth
Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is 0.8%
1 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 28%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 25%		  
2 Low stock price volatility
Vol 12M is 37%		  
0 Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 6.8%, FCF Yield is 7.0%
1 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 28%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 25%
2 Low stock price volatility
Vol 12M is 37%
3 Weak revenue growth
Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is 0.8%

Market Valuation & Key Metrics

NTAPS&P 500
REVENUE GROWTHPOOR
Rev LTM ($ Bil)6.6
Rev Chg Q1.2%6.4%
Rev Chg LTM3.3%5.3%
Rev Chg 3Y Avg0.8%5.4%
PROFITABILITYGOOD
Op Inc LTM ($ Bil)1.4
CFO LTM ($ Bil)1.8
Net Inc LTM ($ Bil)1.2
Op Mgn LTM21.8%18.7%
CFO/Rev LTM27.9%20.5%
Net Inc Mgn17.8%12.7%
VALUATIONMODERATE
P/S3.63.3
P/CFO12.816.1
P/FCF14.220.9
P/E20.124.0
STABILITYVERY GOOD
Debt/Equity0.120.21
Cash/Assets0.340.07

NTAP Stock

   
   
   
   
   
   
   

Return vs. Risk

Price Returns Compared

 202020212022202320242025Total [1]
Returns
NTAP Return11%42%-33%51%34%3%120%
Peers Return12%49%-12%52%40%25%290%
S&P 500 Return16%27%-19%24%23%17%110%

Monthly Win Rates [3]
NTAP Win Rate58%75%33%42%50%67% 
Peers Win Rate60%57%43%60%62%60% 
S&P 500 Win Rate58%75%42%67%75%67% 

Max Drawdowns [4]
NTAP Max Drawdown-43%-7%-35%0%-3%-34% 
Peers Max Drawdown-38%-12%-33%-10%-11%-25% 
S&P 500 Max Drawdown-31%-1%-25%-1%-2%-15% 

[1] Cumulative total returns since the beginning of 2020
[2] Peers: IBM, ANET, PSTG, NTNX, TDC. See NTAP 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 10/27/2025 (YTD)

How Low Can It Go

Unique KeyEventNTAPS&P 500
2022 Inflation Shock2022 Inflation Shock  
2022 Inflation Shock% Loss% Loss-39.1%-25.4%
2022 Inflation Shock% Gain to Breakeven% Gain to Breakeven64.1%34.1%
2022 Inflation ShockTime to BreakevenTime to Breakeven429 days464 days
2020 Covid Pandemic2020 Covid Pandemic  
2020 Covid Pandemic% Loss% Loss-45.9%-33.9%
2020 Covid Pandemic% Gain to Breakeven% Gain to Breakeven85.0%51.3%
2020 Covid PandemicTime to BreakevenTime to Breakeven274 days148 days
2018 Correction2018 Correction  
2018 Correction% Loss% Loss-49.1%-19.8%
2018 Correction% Gain to Breakeven% Gain to Breakeven96.6%24.7%
2018 CorrectionTime to BreakevenTime to Breakeven747 days120 days
2008 Global Financial Crisis2008 Global Financial Crisis  
2008 Global Financial Crisis% Loss% Loss-74.3%-56.8%
2008 Global Financial Crisis% Gain to Breakeven% Gain to Breakeven289.7%131.3%
2008 Global Financial CrisisTime to BreakevenTime to Breakeven580 days1480 days

Compare to IBM, ANET, PSTG, NTNX, TDC


In The Past

NetApp's stock fell -39.1% during the 2022 Inflation Shock from a high on 1/13/2022. A -39.1% loss requires a 64.1% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth over time.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About NetApp (NTAP)

Interactive Breakdown

NetApp Interactive Breakdown Analysis

Better Bets than NetApp (NTAP)

 NTAPBetter Performance than NTAP
MetricValueIndustry (Technology Hardware, Storage &)
Rev Chg LTM3.3%AAPL (6.0%), DELL (10.5%), STX (38.9%), WDC (39.2%), HPE (14.0%)
Rev Chg 3Y Avg0.8%AAPL (1.8%), WDC (8.3%), HPE (5.9%), PSTG (9.7%), SMCI (64.7%)
Op Mgn LTM21.8%AAPL (31.9%)
CFO/Rev LTM27.9%MLNK (29.4%), CRCT (38.0%)
FCF/Rev LTM25.2%MLNK (27.2%), CRCT (35.4%)
Total Yield6.8%HPQ (12.0%), AGMH (198.3%)
 NTAPBetter Performance than NTAP
MetricValueAll Other Sectors
Rev Chg LTM3.3%GOOGL (13.1%), AMZN (10.9%), META (19.4%), JPM (8.2%), WMT (4.2%)
Rev Chg 3Y Avg0.8%GOOGL (10.2%), AMZN (11.3%), META (13.0%), TSLA (9.3%), JPM (13.5%)
Op Mgn LTM21.8%GOOGL (32.7%), META (42.9%), LLY (43.0%), V (66.5%), MA (58.0%)
CFO/Rev LTM27.9%GOOGL (36.0%), META (56.4%), V (60.4%), MA (53.3%), ABBV (33.1%)
FCF/Rev LTM25.2%META (30.7%), V (56.8%), MA (49.2%), ABBV (31.3%), AXP (26.9%)
Total Yield6.8%XOM (9.6%), JNJ (8.2%), BABA (35.1%), BAC (6.8%), UNH (8.8%)
 Best Bets In Information Technology Sector
 NTAPVRSN NVDA RMBS QLYS ADBE YOU GEN IDCC DBX KLAC
What You Pay           
P/E20.128.453.953.424.721.816.827.721.616.339.5
P/EBIT16.120.646.247.323.117.420.010.117.313.932.4
What You Get           
Rev Chg Q1.2%7.3%55.6%30.3%10.3%10.7%17.5%30.3%34.5%-1.4%23.6%
Rev Chg LTM3.3%5.5%71.6%35.2%9.6%10.7%19.8%10.6%21.8%-0.0%23.9%
Rev Chg 3Y Avg0.8%5.2%92.0%18.7%12.5%10.5%35.5%14.8%23.3%4.1%10.4%
FCF/Rev 3Y Avg21.5%57.4%41.3%40.9%39.0%37.7%37.3%35.9%35.1%32.9%31.1%

[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

TitleTopicDate
0DASHBOARDS  
1NetApp Earnings Notes  
2How Low Can NetApp Stock Really Go?Return 
3Day 8 of Loss Streak for NetApp Stock with -6.3% Return (vs. 3.2% YTD) [9/30/2025]Notification 
4Day 8 of Loss Streak for NetApp Stock with -6.3% Return (vs. 3.2% YTD) [9/30/2025]Notification 
5Day 8 of Loss Streak for NetApp Stock with -6.3% Return (vs. 3.2% YTD) [9/30/2025]Notification 
6Day 8 of Loss Streak for NetApp Stock with -6.3% Return (vs. 3.2% YTD) [9/30/2025]Notification 
7Day 7 of Loss Streak for NetApp Stock with -6.2% Return (vs. 3.3% YTD) [9/29/2025]Notification 
8How Does NetApp Stock Stack Up Against Its Peers?Peer Comparison 
9Better Bet Than NTAP Stock: Pay Less Than NetApp To Get More From TMUS, DIS   
10Better Bet Than NTAP Stock: Pay Less Than NetApp To Get More From FSLR, IDCC   
11ARTICLES  
12NTAP Stock Down -6.3% after 8-Day Loss Streak October 1st, 2025
13NTAP Stock Down -6.2% after 7-Day Loss Streak September 30th, 2025
14How Will NetApp’s Stock React To Its Upcoming Earnings? August 25th, 2025
15Better Bet Than Apple Stock: Pay Less To Get More From Industry Peers July 9th, 2025
16Will Q4 Results Move NetApp’s Stock Up? May 27th, 2025
Title
0DASHBOARDS
1NTAP Stock Down -6.3% after 8-Day Loss Streak
2NTAP Stock Down -6.2% after 7-Day Loss Streak
3How Will NetApp’s Stock React To Its Upcoming Earnings?
4Better Bet Than Apple Stock: Pay Less To Get More From Industry Peers
5Will Q4 Results Move NetApp’s Stock Up?
6ARTICLES
7NetApp Earnings Notes
8How Low Can NetApp Stock Really Go?
9Day 8 of Loss Streak for NetApp Stock with -6.3% Return (vs. 3.2% YTD) [9/30/2025]
10Day 8 of Loss Streak for NetApp Stock with -6.3% Return (vs. 3.2% YTD) [9/30/2025]
11Day 8 of Loss Streak for NetApp Stock with -6.3% Return (vs. 3.2% YTD) [9/30/2025]
12Day 8 of Loss Streak for NetApp Stock with -6.3% Return (vs. 3.2% YTD) [9/30/2025]
13Day 7 of Loss Streak for NetApp Stock with -6.2% Return (vs. 3.3% YTD) [9/29/2025]
14How Does NetApp Stock Stack Up Against Its Peers?
15Better Bet Than NTAP Stock: Pay Less Than NetApp To Get More From TMUS, DIS 
16Better Bet Than NTAP Stock: Pay Less Than NetApp To Get More From FSLR, IDCC 

Trade Ideas

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

Unique KeyDateTickerCompanyCategoryTrade Strategy6M Fwd Rtn12M Fwd Rtn12M Max DD
ADBE_9302025_Monopoly_xInd_xCD_Getting_Cheaper09302025ADBEAdobeMonopolyMY | Getting CheaperMonopoly-Like with P/S Decline
Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple		1.4%1.4%-6.7%
CRM_9302025_Monopoly_xInd_xCD_Getting_Cheaper09302025CRMSalesforceMonopolyMY | Getting CheaperMonopoly-Like with P/S Decline
Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple		7.8%7.8%-0.6%
MPWR_9302025_Monopoly_xInd_xCD_Getting_Cheaper09302025MPWRMonolithic Power SystemsMonopolyMY | Getting CheaperMonopoly-Like with P/S Decline
Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple		20.0%20.0%-1.8%
POWI_9262025_Dip_Buyer_High_CFO_Margins_ExInd_DE09262025POWIPower IntegrationsDip BuyDB | 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		7.5%7.5%-13.4%
ROP_9262025_Monopoly_xInd_xCD_Getting_Cheaper09262025ROPRoper TechnologiesMonopolyMY | Getting CheaperMonopoly-Like with P/S Decline
Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple		-7.0%-7.0%-7.0%
NTAP_5312025_Monopoly_xInd_xCD_Getting_Cheaper05312025NTAPNetAppMonopolyMY | Getting CheaperMonopoly-Like with P/S Decline
Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple		19.3%19.3%-0.4%
NTAP_9302022_Dip_Buyer_FCFYield09302022NTAPNetAppDip BuyDB | FCFY OPMDip Buy with High FCF Yield and High Margin
Buying dips for companies with high FCF yield and meaningfully high operating margin		4.9%26.4%-5.2%
Unique KeyDateTickerCompanyCategoryTrade Strategy6M Fwd Rtn12M Fwd Rtn12M Max DD
ADBE_9302025_Monopoly_xInd_xCD_Getting_Cheaper09302025ADBEAdobeMonopolyMY | Getting CheaperMonopoly-Like with P/S Decline
Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple		1.4%1.4%-6.7%
CRM_9302025_Monopoly_xInd_xCD_Getting_Cheaper09302025CRMSalesforceMonopolyMY | Getting CheaperMonopoly-Like with P/S Decline
Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple		7.8%7.8%-0.6%
MPWR_9302025_Monopoly_xInd_xCD_Getting_Cheaper09302025MPWRMonolithic Power SystemsMonopolyMY | Getting CheaperMonopoly-Like with P/S Decline
Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple		20.0%20.0%-1.8%
POWI_9262025_Dip_Buyer_High_CFO_Margins_ExInd_DE09262025POWIPower IntegrationsDip BuyDB | 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		7.5%7.5%-13.4%
ROP_9262025_Monopoly_xInd_xCD_Getting_Cheaper09262025ROPRoper TechnologiesMonopolyMY | Getting CheaperMonopoly-Like with P/S Decline
Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple		-7.0%-7.0%-7.0%
NTAP_5312025_Monopoly_xInd_xCD_Getting_Cheaper05312025NTAPNetAppMonopolyMY | Getting CheaperMonopoly-Like with P/S Decline
Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple		19.3%19.3%-0.4%
NTAP_9302022_Dip_Buyer_FCFYield09302022NTAPNetAppDip BuyDB | FCFY OPMDip Buy with High FCF Yield and High Margin
Buying dips for companies with high FCF yield and meaningfully high operating margin		4.9%26.4%-5.2%

Recent Active Movers

1 Week Top Gainers

#TickerCompany1W RtnYTD Rtn
1VICRVicor55.1%86.3%
2INBXInhibrx Biosciences54.0%282.1%
3BALYBallys45.5%4.1%
4RNAAvidity Biosciences42.8%140.7%
5CLBCore Laboratories42.3%-2.4%
6DYNDyne Therapeutics41.5%2.6%
7MOFGMidWestOne Financial36.4%35.6%
8GTXGarrett Motion36.4%92.0%
9NUVBNuvation Bio36.2%89.5%
10WGOWinnebago Industries35.0%-10.4%

1 Week Top Losers

#TickerCompany1W RtnYTD Rtn
1PMIPicard Medical-59.1%7439.7%
2NTLAIntellia Therapeutics-47.1%26.8%
3ITGRInteger-34.6%-47.0%
4USARUSA Rare Earth-31.6%72383.2%
5UAMYUnited States Antimony-28.7%440.7%
6METCRamaco Resources-28.7%236.0%
7SESSES AI-25.4%11.4%
8ASMAvino Silver & Gold Mines-24.5%428.9%
9OGNOrganon-23.6%-51.6%
10MPMP Materials-20.9%320.3%

1 Month Top Gainers

#TickerCompany1M RtnYTD Rtn
1WOLFWolfspeed2452.9%363.8%
2PRAXPraxis Precision Medicines254.6%141.6%
3NVTSNavitas Semiconductor116.3%289.6%
4VICRVicor84.9%86.3%
5DYNDyne Therapeutics83.8%2.6%
6ORKAOruka Therapeutics82.2%42.9%
7SNDKSanDisk81.7% 
8INBXInhibrx Biosciences80.1%282.1%
9CIFRCipher Mining79.1%342.7%
10BITFBitfarms78.7%204.7%

1 Month Top Losers

#TickerCompany1M RtnYTD Rtn
1PMIPicard Medical-45.4%7439.7%
2VGVenture Global-36.9% 
3SOCSable Offshore-34.9%-43.9%
4OGNOrganon-30.9%-51.6%
5ITGRInteger-30.8%-47.0%
6USNAUsana Health Sciences-29.5%-44.0%
7FWRDForward Air-26.0%-38.7%
8NFENew Fortress Energy-25.6%-89.6%
9LENZLENZ Therapeutics-25.6%8.4%
10RCReady Capital-24.7%-49.9%

Recent Active Movers

1 Week Top Gainers

#TickerCompany1W RtnYTD Rtn
1VICRVicor55.1%86.3%
2INBXInhibrx Biosciences54.0%282.1%
3BALYBallys45.5%4.1%
4RNAAvidity Biosciences42.8%140.7%
5CLBCore Laboratories42.3%-2.4%
6DYNDyne Therapeutics41.5%2.6%
7MOFGMidWestOne Financial36.4%35.6%
8GTXGarrett Motion36.4%92.0%
9NUVBNuvation Bio36.2%89.5%
10WGOWinnebago Industries35.0%-10.4%

1 Week Top Losers

#TickerCompany1W RtnYTD Rtn
1PMIPicard Medical-59.1%7439.7%
2NTLAIntellia Therapeutics-47.1%26.8%
3ITGRInteger-34.6%-47.0%
4USARUSA Rare Earth-31.6%72383.2%
5UAMYUnited States Antimony-28.7%440.7%
6METCRamaco Resources-28.7%236.0%
7SESSES AI-25.4%11.4%
8ASMAvino Silver & Gold Mines-24.5%428.9%
9OGNOrganon-23.6%-51.6%
10MPMP Materials-20.9%320.3%

More From Trefis

Research & Analysis

Invest in Strategies

Wealth Management

Peer Comparisons for NetApp

Financials

NTAPIBMANETPSTGNTNXTDCMedian
NameNetApp Internat.Arista N.Pure Sto.Nutanix Teradata  
Mkt Price117.19313.09156.8195.4769.5521.37106.33
Mkt Cap23.6292.4197.031.318.72.027.4
Rev LTM6,59065,4027,9513,3502,5381,6754,970
Op Inc LTM1,43611,5443,43076173185810
FCF LTM1,65811,8543,9755497502631,204
FCF 3Y Avg1,38011,7532,540553518276966
CFO LTM1,83813,4834,0478028212841,330
CFO 3Y Avg1,56313,4982,5867725892971,168

Growth & Margins

NTAPIBMANETPSTGNTNXTDCMedian
NameNetApp Internat.Arista N.Pure Sto.Nutanix Teradata  
Rev Chg LTM3.3%4.5%26.0%11.3%18.1%-6.7%7.9%
Rev Chg 3Y Avg0.8%2.6%32.1%9.7%17.1%-3.4%6.2%
Rev Chg Q1.2%9.1%30.4%12.7%19.2%-6.4%10.9%
QoQ Delta Rev Chg LTM0.3%2.1%6.9%3.0%4.3%-1.6%2.6%
Op Mgn LTM21.8%17.7%43.1%2.3%6.8%11.0%14.3%
Op Mgn 3Y Avg20.2%16.4%40.2%2.5%-1.3%9.9%13.1%
QoQ Delta Op Mgn LTM0.1%0.6%0.9%-0.7%1.5%-2.3%0.3%
CFO/Rev LTM27.9%20.6%50.9%23.9%32.4%17.0%25.9%
CFO/Rev 3Y Avg24.4%21.4%37.6%25.4%26.1%16.9%24.9%
FCF/Rev LTM25.2%18.1%50.0%16.4%29.6%15.7%21.6%
FCF/Rev 3Y Avg21.5%18.6%36.9%18.2%22.8%15.7%20.1%

Valuation

NTAPIBMANETPSTGNTNXTDCMedian
NameNetApp Internat.Arista N.Pure Sto.Nutanix Teradata  
Mkt Cap23.6292.4197.031.318.72.027.4
P/S3.64.524.89.37.41.25.9
P/EBIT16.125.757.4165.684.911.641.6
P/E20.137.060.6224.799.218.548.8
P/CFO12.821.748.739.022.77.222.2
Total Yield6.8%4.8%1.7%0.4%1.0%5.4%3.2%
Dividend Yield1.8%2.1%0.0%0.0%0.0%0.0%0.0%
FCF Yield 3Y Avg6.6%6.4%2.5%3.3%3.7%8.6%5.1%
D/E0.10.20.00.00.10.30.1
Net D/E-0.00.2-0.0-0.0-0.00.1-0.0

Returns

NTAPIBMANETPSTGNTNXTDCMedian
NameNetApp Internat.Arista N.Pure Sto.Nutanix Teradata  
1M Rtn-1.8%10.1%10.0%15.9%-9.9%-3.7%4.1%
3M Rtn10.1%19.8%33.4%60.7%-6.4%-5.1%14.9%
6M Rtn34.4%34.4%100.2%110.4%2.4%-1.0%34.4%
12M Rtn0.1%50.0%59.2%76.6%12.9%-33.2%31.4%
3Y Rtn80.8%153.8%416.4%213.0%159.5%-32.4%156.7%
1M Excs Rtn-5.3%6.6%6.6%12.4%-13.3%-7.2%0.6%
3M Excs Rtn3.0%12.2%24.3%52.9%-15.9%-11.3%7.6%
6M Excs Rtn10.0%10.0%75.9%86.0%-21.9%-25.3%10.0%
12M Excs Rtn-18.1%19.7%40.6%63.7%-3.7%-51.0%8.0%
3Y Excs Rtn13.2%86.5%406.2%157.9%73.2%-116.9%79.8%

Comparison Analyses

Financials

$ Mil | FY: 4/252026Q12025Q42025Q32025Q22025Q12024Q42024Q32024Q22024Q12023Q42023Q32023Q2
Period End7/25/20254/25/20251/24/202510/25/20247/26/20244/26/20241/26/202410/27/20237/28/20234/28/20231/27/202310/28/2022
Filing Date8/27/20256/9/20252/27/202511/25/20248/28/20246/10/20242/29/202411/30/20238/29/20236/14/20233/1/202312/1/2022
Key Financials Quarterly            
Total Revenue1,5591,7321,6411,6581,5411,6681,6061,5621,4321,5811,5261,663
Ebitda384428446438378460462394266396258381
Operating Income311394373358300367382312207323262298
Net Income23334029929924829131323314924565750
EPS1.161.671.471.471.201.411.521.120.701.150.303.46
Key Financials TTM            
Total Revenue TTM6,5906,5726,5086,4736,3776,2686,1816,1016,2026,3626,4616,549
Ebitda TTM1,6961,6901,7221,7381,6941,5821,5181,3141,3011,3811,3261,444
Operating Income TTM1,4361,4251,3981,4071,3611,2681,2241,1041,0901,1591,1381,203
Net Income TTM1,1711,1861,1371,1511,0859869406921,2091,2741,2881,475
Growth Rates Quarterly            
Total Revenue Growth1.2%3.8%2.2%6.1%7.6%5.5%5.2%-6.1%-10.1%-5.9%-5.5%6.2%
EBITDA Growth1.6%-7.0%-3.5%11.2%42.1%16.2%79.1%3.4%-23.1%16.1%-31.4%10.8%
Operating Income Growth3.7%7.4%-2.4%14.7%44.9%13.6%45.8%4.7%-25.0%7.0%-19.9%-1.3%
Net Income Growth-6.0%16.8%-4.5%28.3%66.4%18.8%381.5%-68.9%-30.4%-5.4%-74.2%234.8%
Margins Quarterly            
EBITDA Margin24.6%24.7%27.2%26.4%24.5%27.6%28.8%25.2%18.6%25.0%16.9%22.9%
Operating Income Margin19.9%22.7%22.7%21.6%19.5%22.0%23.8%20.0%14.5%20.4%17.2%17.9%
Net Income Margin14.9%19.6%18.2%18.0%16.1%17.4%19.5%14.9%10.4%15.5%4.3%45.1%
Cash & Debt            
Total Cash3,3243,8462,2612,2223,0173,2522,9172,6202,9753,0703,1413,033
Total Debt2,7453,4912,2502,2502,6482,6522,6562,6622,6722,6842,6902,695
Net Debt / (Cash)-579-355-1128-369-600-26142-303-386-451-338
Cash Flows Quarterly            
FCF from Operations673675385105341613484135453235377214
Cash Flows TTM            
FCF from Operations TTM1,8381,5061,4441,5431,5731,6851,3071,2001,2791,1071,2831,166
Returns to Shareholders Quarterly            
Dividends104105106106107104103103106106108108
Share Repurchases300250200300400100100300400150200150
Return on Invested Capital (ROIC) Quarterly            
ROIC240.8%221.0%122.5%129.3%177.7%332.6%202.6%113.7%116.4%198.4%100.5%326.6%
Return on Invested Capital (ROIC) TTM            
ROIC TTM305.9%178.4%114.6%123.9%191.6%292.9%155.5%94.8%191.2%228.1%297.1%329.6%

Segment Financials

Revenue by Segment

$ Mil20252024202320222021
Hybrid Cloud5,6575,7875,9225,545 
Public Cloud611575396199 
Hardware maintenance and other services    1,383
Product    2,995
Software    1,034
Total6,2686,3626,3185,7445,412


Price Behavior

NTAP Betas & Captures as of 9/30/2025

 1M2M3M6M1Y3Y
Beta0.781.561.581.271.251.15
Up Beta1.631.261.861.261.121.02
Down Beta-1.921.461.931.311.171.22
Up Capture118%197%143%148%154%181%
Bmk +ve Days13233574144420
Stock +ve Days10233368130400
Down Capture75%142%134%114%128%104%
Bmk -ve Days8192952107330
Stock -ve Days11193057120348

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

Short Interest

Short Interest: As Of Date10152025
Short Interest: Shares Quantity14,235,210
Short Interest: % Change Since 930202519.8%
Average Daily Volume1,935,932
Days-to-Cover Short Interest7.35
Basic Shares Quantity201,000,000
Short % of Basic Shares7.1%

Returns Analyses

Earnings Returns History

Expand for More

 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
8/27/20254.5%6.0%6.9%
5/29/2025-0.1%5.4%7.4%
2/27/2025-15.6%-22.3%-25.2%
11/21/2024-3.4%-3.2%-6.8%
8/28/2024-9.6%-11.4%-8.1%
5/30/20243.4%4.3%11.8%
2/29/202418.2%17.0%17.9%
11/28/202314.6%16.0%12.9%
...
SUMMARY STATS   
# Positive141212
# Negative101212
Median Positive4.3%6.7%9.6%
Median Negative-5.8%-3.5%-8.9%
Max Positive18.2%17.0%22.3%
Max Negative-15.6%-22.3%-32.9%

SEC Filings

Expand for More

Report DateFiling DateFiling
7312025827202510-Q 7/25/2025
4302025609202510-K 4/25/2025
1312025227202510-Q 1/24/2025
103120241125202410-Q 10/25/2024
7312024828202410-Q 7/26/2024
4302024610202410-K 4/26/2024
1312024229202410-Q 1/26/2024
103120231130202310-Q 10/27/2023
7312023829202310-Q 7/28/2023
4302023614202310-K 4/28/2023
1312023301202310-Q 1/27/2023
103120221201202210-Q 10/28/2022
7312022830202210-Q 7/29/2022
4302022616202210-K 4/29/2022
1312022302202210-Q 1/28/2022
103120211202202110-Q 10/29/2021

Insider Activity

Expand for More

 OwnerTitleFiling DateActionPriceSharesTransacted
Value		Value of
Held Shares		Form
0De Lorenzo DanielVP, Controller & CAO9292025Sell121.8777994,937 Form

Industry Resources

Technology Hardware, Storage & Peripherals Resources
The Verge
TechRadar
Tom’s Hardware
PCMag
CNET

External Quote Links


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