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NetApp (NTAP)

Market Price (6/8/2026): $166.97 | Market Cap: $33.2 BilInvestor Relations Sector: Information Technology | Industry: Technology Hardware, Storage & Peripherals

NetApp (NTAP)

Market Price (6/8/2026): $166.97
Market Cap: $33.2 Bil
Sector: Information Technology
Industry: Technology Hardware, Storage & Peripherals

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

0

Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 5.1%, FCF Yield is 5.6%

Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 30%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 27%, CFO LTM is 2.1 Bil

Stock buyback support
Stock Buyback 3Y Total is 3.0 Bil

Low stock price volatility
Vol 12M is 40%

Megatrend and thematic drivers
Megatrends include Cloud Computing, Artificial Intelligence, and Cybersecurity. Themes include Hybrid Cloud Solutions, Show more.

Meaningful short interest
Short Interest Days-to-CoverDTC = (Short Interest Share Quantity) / (Average Daily Trading Volume). Reflects how many days it would take to cover (close out) the short interest based on average volumes. High DTC can signify an increased risk of a short squeeze. is 10.61, Short Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 12%

Valuation getting more expensive
P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 52%

Key risks
NTAP key risks include [1] intense competition from both established technology giants and specialized rivals, Show more.

0 Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 5.1%, FCF Yield is 5.6%
1 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 30%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 27%, CFO LTM is 2.1 Bil
2 Stock buyback support
Stock Buyback 3Y Total is 3.0 Bil
3 Low stock price volatility
Vol 12M is 40%
4 Megatrend and thematic drivers
Megatrends include Cloud Computing, Artificial Intelligence, and Cybersecurity. Themes include Hybrid Cloud Solutions, Show more.
5 Meaningful short interest
Short Interest Days-to-CoverDTC = (Short Interest Share Quantity) / (Average Daily Trading Volume). Reflects how many days it would take to cover (close out) the short interest based on average volumes. High DTC can signify an increased risk of a short squeeze. is 10.61, Short Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 12%
6 Valuation getting more expensive
P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 52%
7 Key risks
NTAP key risks include [1] intense competition from both established technology giants and specialized rivals, Show more.

Valuation, Metrics & Events

Price Chart

Why The Stock Moved

Qualitative Assessment

AI Analysis | Feedback

Updated on 6/5/2026

NetApp (NTAP) stock has gained about 70% since 2/28/2026 because of the following key factors:

1. Strong Fiscal Q4 2026 Earnings and Optimistic Fiscal Year 2027 Guidance.

NetApp reported robust financial results for its fiscal fourth quarter 2026 (ended April 24, 2026) on May 28, 2026. The company's net revenues reached $1.95 billion, marking a 12% increase year-over-year and surpassing the Wall Street consensus of $1.87 billion. Non-GAAP diluted earnings per share (EPS) were $2.43, significantly exceeding analyst expectations of $2.27. Furthermore, NetApp provided an upbeat outlook for fiscal year 2027, projecting revenues of $7.33 billion to $7.58 billion and non-GAAP EPS of $8.70 to $9.00, both of which were above consensus estimates, significantly boosting investor confidence.

2. Accelerated Demand for AI-Driven Data Infrastructure.

NetApp highlighted the increasing importance of artificial intelligence (AI) in its business growth. The company's intelligent data infrastructure platform, which includes hybrid cloud solutions, is actively powering customers' AI-driven transformations. NetApp recorded approximately 500 AI and data-preparation wins in fiscal Q4 2026 alone, and over 1,100 such wins for the entire fiscal year 2026. This significant traction in AI-related projects, particularly those requiring high-performance on-premise storage, was identified as a key driver for future growth and instilled confidence in the market.

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Stock Movement Drivers

Fundamental Drivers

The 69.5% change in NTAP stock from 2/28/2026 to 6/7/2026 was primarily driven by a 61.8% change in the company's P/E Multiple.
(LTM values as of)22820266072026Change
Stock Price ($)98.53167.0469.5%
Change Contribution By: 
Total Revenues ($ Mil)6,7096,9253.2%
Net Income Margin (%)18.1%18.4%2.0%
P/E Multiple16.126.161.8%
Shares Outstanding (Mil)198199-0.5%
Cumulative Contribution69.5%

LTM = Last Twelve Months as of date shown

Market Drivers

2/28/2026 to 6/7/2026
ReturnCorrelation
NTAP69.5% 
Market (SPY)7.8%20.3%
Sector (XLK)30.1%35.8%

Fundamental Drivers

The 51.2% change in NTAP stock from 11/30/2025 to 6/7/2026 was primarily driven by a 39.5% change in the company's P/E Multiple.
(LTM values as of)113020256072026Change
Stock Price ($)110.45167.0451.2%
Change Contribution By: 
Total Revenues ($ Mil)6,6376,9254.3%
Net Income Margin (%)17.7%18.4%3.9%
P/E Multiple18.726.139.5%
Shares Outstanding (Mil)1991990.0%
Cumulative Contribution51.2%

LTM = Last Twelve Months as of date shown

Market Drivers

11/30/2025 to 6/7/2026
ReturnCorrelation
NTAP51.2% 
Market (SPY)8.5%33.3%
Sector (XLK)26.3%41.8%

Fundamental Drivers

The 71.7% change in NTAP stock from 5/31/2025 to 6/7/2026 was primarily driven by a 49.3% change in the company's P/E Multiple.
(LTM values as of)53120256072026Change
Stock Price ($)97.28167.0471.7%
Change Contribution By: 
Total Revenues ($ Mil)6,5086,9256.4%
Net Income Margin (%)17.5%18.4%5.5%
P/E Multiple17.526.149.3%
Shares Outstanding (Mil)2041992.5%
Cumulative Contribution71.7%

LTM = Last Twelve Months as of date shown

Market Drivers

5/31/2025 to 6/7/2026
ReturnCorrelation
NTAP71.7% 
Market (SPY)26.6%40.8%
Sector (XLK)57.1%45.9%

Fundamental Drivers

The 167.9% change in NTAP stock from 5/31/2023 to 6/7/2026 was primarily driven by a 149.1% change in the company's P/E Multiple.
(LTM values as of)53120236072026Change
Stock Price ($)62.36167.04167.9%
Change Contribution By: 
Total Revenues ($ Mil)6,4616,9257.2%
Net Income Margin (%)19.9%18.4%-7.6%
P/E Multiple10.526.1149.1%
Shares Outstanding (Mil)2161998.5%
Cumulative Contribution167.9%

LTM = Last Twelve Months as of date shown

Market Drivers

5/31/2023 to 6/7/2026
ReturnCorrelation
NTAP167.9% 
Market (SPY)83.4%50.3%
Sector (XLK)124.1%54.0%

Return vs. Risk

Price Returns Compared

 202120222023202420252026Total [1]
Returns
NTAP Return42%-33%51%34%-6%69%208%
Peers Return30%-16%48%48%16%75%388%
S&P 500 Return27%-19%24%23%16%11%102%

Monthly Win Rates [3]
NTAP Win Rate75%33%42%50%50%83% 
Peers Win Rate60%40%67%65%53%63% 
S&P 500 Win Rate75%42%67%75%67%67% 

Max Drawdowns [4]
NTAP Max Drawdown-15%-38%-12%-15%-39%-13% 
Peers Max Drawdown-21%-36%-20%-29%-38%-21% 
S&P 500 Max Drawdown-5%-25%-10%-8%-19%-9% 

[1] Cumulative total returns since the beginning of 2021
[2] Peers: DELL, HPE, PSTG, IBM, AMZN. 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] 2026 data is for the year up to 6/5/2026 (YTD)

How Low Can It Go

EventNTAPS&P 500
2025 US Tariff Shock
  % Loss-38.5%-18.8%
  % Gain to Breakeven62.6%23.1%
  Time to Breakeven159 days79 days
2024 Yen Carry Trade Unwind
  % Loss-14.1%-7.8%
  % Gain to Breakeven16.4%8.5%
  Time to Breakeven655 days18 days
2023 SVB Regional Banking Crisis
  % Loss-10.2%-6.7%
  % Gain to Breakeven11.4%7.1%
  Time to Breakeven20 days31 days
2022 Inflation Shock & Fed Tightening
  % Loss-31.7%-24.5%
  % Gain to Breakeven46.5%32.4%
  Time to Breakeven425 days427 days
2020 COVID-19 Crash
  % Loss-33.6%-33.7%
  % Gain to Breakeven50.5%50.9%
  Time to Breakeven238 days140 days
Q4 2018 Fed Policy Error / Growth Scare
  % Loss-35.8%-19.2%
  % Gain to Breakeven55.7%23.8%
  Time to Breakeven865 days105 days

Compare to DELL, HPE, PSTG, IBM, AMZN

In The Past

NetApp's stock fell -38.5% during the 2025 US Tariff Shock. Such a loss loss requires a 62.6% 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.

EventNTAPS&P 500
2025 US Tariff Shock
  % Loss-38.5%-18.8%
  % Gain to Breakeven62.6%23.1%
  Time to Breakeven159 days79 days
2022 Inflation Shock & Fed Tightening
  % Loss-31.7%-24.5%
  % Gain to Breakeven46.5%32.4%
  Time to Breakeven425 days427 days
2020 COVID-19 Crash
  % Loss-33.6%-33.7%
  % Gain to Breakeven50.5%50.9%
  Time to Breakeven238 days140 days
Q4 2018 Fed Policy Error / Growth Scare
  % Loss-35.8%-19.2%
  % Gain to Breakeven55.7%23.8%
  Time to Breakeven865 days105 days
2015-2016 China Devaluation / Global Growth Scare
  % Loss-29.6%-12.2%
  % Gain to Breakeven42.1%13.9%
  Time to Breakeven206 days62 days
2014-2016 Oil Price Collapse
  % Loss-48.1%-6.8%
  % Gain to Breakeven92.5%7.3%
  Time to Breakeven388 days15 days
2011 US Debt Ceiling Crisis & European Contagion
  % Loss-34.1%-17.9%
  % Gain to Breakeven51.8%21.8%
  Time to Breakeven2236 days123 days
2008-2009 Global Financial Crisis
  % Loss-59.6%-53.4%
  % Gain to Breakeven147.3%114.4%
  Time to Breakeven314 days1085 days
Summer 2007 Credit Crunch
  % Loss-23.4%-8.6%
  % Gain to Breakeven30.6%9.5%
  Time to Breakeven80 days47 days

Compare to DELL, HPE, PSTG, IBM, AMZN

In The Past

NetApp's stock fell -38.5% during the 2025 US Tariff Shock. Such a loss loss requires a 62.6% 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 NetApp (NTAP)

NetApp, Inc. provides software, systems, and cloud services to manage and share data on-premises, and private and public clouds worldwide. The company offers cloud storage services, including NetApp Cloud Volumes; cloud control solutions, such as NetApp Cloud Manager and NetApp Virtual Desktop Service; cloud services and analytics comprising NetApp Cloud Insights, NetApp Cloud Sync, NetApp Cloud Compliance, NetApp Cloud Tiering, NetApp SaaS Backup, NetApp Cloud Backup, and NetApp Global File Cache; and Cloud Optimization solutions, such as Spot by NetApp, Spot Cloud Analyzer by NetApp, Spot Eco by NetApp, Spot Ocean by NetApp, Spot Wave by NetApp, Spot Elastigroup by NetApp, and NetApp Virtual Desktop Managed Service. It provides data storage solutions comprising NetApp All-Flash FAS series, NetApp Fabric Attached Storage, NetApp FlexPod, NetApp E/EF series, NetApp StorageGRID, NetApp SolidFire, and NetApp HCI; data protection solutions, such as NetApp SnapCenter Backup Management, NetApp SnapMirror Data Replication, NetApp SnapLock Data Compliance, and NetApp Data Availability Services; and data management solutions, including NetApp ONTAP Storage Management System, NetApp ElementOS software, NetApp SANtricity software, NetApp Active IQ Digital Advisor, OnCommand Insight, and OnCommand Workflow Automation. In addition, the company offers application-aware data management service under the NetApp Astra name; and payment solutions and storage-as-a-service under the NetApp Keystone name. Further, it provides assessment, design, consulting, and implementation services. The company serves the energy, financial service, government, technology, internet, life science, healthcare service, manufacturing, media, entertainment, animation, video postproduction, and telecommunication markets through a direct sales force and an ecosystem of partners. NetApp, Inc. was incorporated in 1992 and is headquartered in San Jose, California.

AI Analysis | Feedback

Here are a couple of analogies for NetApp (NTAP):

  • NetApp is like **Dell EMC for the multi-cloud data era.**
  • NetApp is like **VMware for enterprise data management.**

AI Analysis | Feedback

  • Cloud Services: Provides a comprehensive suite of cloud offerings including storage (NetApp Cloud Volumes), control (NetApp Cloud Manager), analytics (NetApp Cloud Insights), and optimization (Spot by NetApp).
  • Data Storage Systems: Offers various hardware and software-defined storage solutions such as All-Flash FAS, Fabric Attached Storage, FlexPod, and StorageGRID.
  • Data Management Software: Includes NetApp ONTAP Storage Management System, NetApp ElementOS, NetApp SANtricity, and NetApp Astra for efficient data organization and optimization.
  • Data Protection Solutions: Features tools like NetApp SnapCenter, SnapMirror, and SnapLock for backup management, data replication, and compliance.
  • NetApp Keystone: A portfolio of payment solutions and storage-as-a-service offerings for flexible consumption.
  • Professional Services: Provides assessment, design, consulting, and implementation services to support NetApp solutions.

AI Analysis | Feedback

NetApp (NTAP) sells primarily to other companies and organizations, operating in a business-to-business (B2B) model. Due to the nature of its enterprise software, systems, and cloud services business, NetApp does not typically disclose the names of its individual major customer companies.

However, NetApp serves a wide range of markets globally, which represent its customer base:

  • Energy
  • Financial Services
  • Government
  • Technology
  • Internet
  • Life Science
  • Healthcare Service
  • Manufacturing
  • Media
  • Entertainment
  • Animation
  • Video Postproduction
  • Telecommunication

AI Analysis | Feedback

  • Flex (FLEX)
  • Jabil (JBL)

AI Analysis | Feedback

George Kurian, Chief Executive Officer, Director

George Kurian became Chief Executive Officer of NetApp in June 2015, having joined the company in 2011. Prior to his time at NetApp, he held significant leadership roles including Vice President and General Manager of the Application Networking and Switching Technology Group at Cisco Systems, Vice President at Akamai Technologies, a management consultant at McKinsey & Company, and led software engineering and product management teams at Oracle Corporation. He holds a Bachelor of Science degree in electrical engineering from Princeton University and an MBA from Stanford University.

Mike Berry, Executive Vice President, Chief Financial Officer

Mike Berry joined NetApp as Executive Vice President and Chief Financial Officer on March 16, 2020. Before his role at NetApp, he served as EVP and CFO at McAfee. His extensive background in finance and operations also includes positions as EVP, CFO, and COO at FireEye, and EVP and CFO for Informatica. He has also held finance and operations leadership roles at other technology companies such as SolarWinds and i2 Technologies. Mr. Berry earned a bachelor's degree in finance from Augsburg University and an MBA in finance from the University of St. Thomas. He serves on the boards of directors for Rapid7, Inc. and FinancialForce.com, Inc.

César Cernuda, President

César Cernuda has served as President of NetApp since July 2020, overseeing the company's go-to-market strategy. Before joining NetApp, he was President of Microsoft Asia Pacific and Latin America. He holds a Bachelor's degree in Business Administration from ESIC Business & Marketing School.

Syam Nair, Executive Vice President and Chief Product Officer

Syam Nair is the Chief Product Officer at NetApp, leading the company's product and engineering teams with over 25 years of experience in scaling cloud platforms. He is recognized for his disruptive innovation, incubating new technologies, and leading large teams through transformations. Previously at Microsoft, he played a key role in the growth of Office 365, launched Windows 10, and led the Microsoft 365 Security business.

Elizabeth (Beth) O'Callahan, Executive Vice President and Chief Administrative Officer

Elizabeth (Beth) O'Callahan serves as NetApp's Chief Administrative Officer, responsible for Legal, Compliance, Government Relations, Sustainability, Human Resources, Workplace Experience, and Corporate Communications. She also holds the position of NetApp's Corporate Secretary.

AI Analysis | Feedback

Key Risks for NetApp (NTAP)

  1. Intense and Evolving Competition in Data Management and Storage Markets: NetApp operates in a highly competitive environment against both traditional enterprise storage vendors (such as Dell EMC, Hewlett Packard Enterprise, and IBM) and hyperscale cloud providers (including Amazon Web Services, Microsoft Azure, and Google Cloud). This diverse competitive landscape puts significant pressure on pricing, product differentiation, and market share, particularly as customers increasingly adopt hybrid and multi-cloud strategies.

  2. Rapid Technological Change and the Need for Continuous Innovation: The data storage and management industry is characterized by swift technological advancements, including the rise of new storage technologies (e.g., all-flash arrays, object storage), software-defined infrastructure, artificial intelligence for data insights, and evolving cloud architectures. NetApp must consistently invest heavily in research and development and successfully bring innovative products and services to market to meet changing customer demands and avoid technological obsolescence.

  3. Vulnerability to Macroeconomic Conditions and Enterprise IT Spending Fluctuations: NetApp's financial performance is closely tied to overall enterprise IT spending, which can be significantly impacted by global economic conditions, geopolitical events, and business confidence. Economic downturns or uncertainty can lead to reduced capital expenditures by businesses, delayed purchasing decisions for new storage systems and data management solutions, and extended product refresh cycles, thereby negatively affecting NetApp's revenue and profitability.

AI Analysis | Feedback

The clear emerging threat for NetApp is the increasing maturity and comprehensive nature of native data storage, management, and optimization services offered directly by hyperscale public cloud providers (such as Amazon Web Services, Microsoft Azure, and Google Cloud Platform). As enterprises continue to accelerate their adoption of cloud-native strategies and consolidate workloads within these public cloud environments, they may increasingly opt for the integrated, native services provided by the cloud vendors themselves, potentially diminishing the need for third-party hybrid cloud data management solutions like those offered by NetApp. While NetApp strategically partners and integrates with these cloud providers, the hyperscalers are also direct competitors aiming to capture the full stack of enterprise IT spending, including data services that NetApp traditionally provides.

AI Analysis | Feedback

NetApp (NTAP) participates in several large and growing addressable markets globally, spanning data storage, cloud services, and data management.

Here are the estimated market sizes for their main products and services:

  • Global Data Storage Market: The global data storage market size was valued at approximately USD 255.29 billion in 2025 and is projected to reach USD 984.56 billion by 2034. Within this, the global next-generation data storage market was estimated at USD 65.12 billion in 2024 and is projected to grow to USD 90.03 billion by 2029. The global data center storage market revenue reached USD 63.72 billion in 2024 and is predicted to attain around USD 185.56 billion by 2033.
  • Global Cloud Storage Market: The global cloud storage market was valued at USD 161.28 billion in 2025 and is projected to grow to USD 809.99 billion by 2034. Another estimate places the global cloud storage market at USD 179.26 billion in 2026, expected to reach USD 513.86 billion by 2031.
  • Global Hybrid Cloud Market: The global hybrid cloud market size was valued at approximately USD 196.04 billion in 2025 and is projected to grow to USD 611.33 billion by 2034. North America accounted for approximately 35% of the global hybrid cloud market in 2023.
  • Global Data Protection Market: The global data protection market size was valued at over USD 179.02 billion in 2025 and is poised to exceed USD 817.39 billion by 2035. North America is projected to hold a 35% share of this market by 2035.
  • Global Enterprise Data Management Market: The global enterprise data management market size is estimated at USD 124.93 billion in 2025 and is predicted to increase to approximately USD 349.52 billion by 2034. North America dominated this market with a 37% share in 2024.
  • Global Storage-as-a-Service (STaaS) Market: The global Storage as a Service market size was valued at USD 55.94 billion in 2024 and is poised to grow to USD 549.56 billion by 2033. North America held the second-largest market share in 2024. Other reports estimate the global STaaS market at USD 53.6 billion in 2025, reaching USD 323.9 billion by 2032.
  • Global Cloud Cost Management and Optimization Market: The global cloud cost management and optimization market size is projected at USD 11.01 billion in 2026 and is anticipated to reach USD 38.4 billion by 2035. North America leads this global market.

AI Analysis | Feedback

NetApp (NASDAQ: NTAP) is expected to drive future revenue growth over the next 2-3 years through several key areas:

  • Growth in All-Flash Array Revenue: NetApp has demonstrated strong performance in its all-flash array portfolio, which recorded a revenue of $1 billion in Q3 FY2026, marking an 11% year-over-year increase. This segment is a significant contributor to its Hybrid Cloud offerings.
  • Expansion of Public Cloud Services: The company's Public Cloud revenue, excluding the divested Spot business, saw an 18% increase in Q2 FY2026 and a 17% rise in Q3 FY2026, primarily driven by its first-party and marketplace storage services. Approximately half of this revenue growth is attributed to new customer acquisition.
  • Increasing Adoption of AI-focused Solutions: NetApp is experiencing strong momentum with its Artificial Intelligence (AI) solutions, including AFX, a disaggregated storage system for AI, and the AI Data Engine (AIDE). Around 300 customers have already selected NetApp for their AI data preparation and storage needs, indicating a growing opportunity in this sector.
  • Growth of Keystone (Storage-as-a-Service): Revenue from NetApp's storage-as-a-service offering, Keystone, grew by 76% year-over-year in Q2 FY2026 and approximately 65% in Q3 FY2026, highlighting its increasing adoption and contribution to the company's top line.

AI Analysis | Feedback

Share Repurchases

  • NetApp consistently returned capital to shareholders through share repurchases, with $1.57 billion returned in fiscal year 2025 through dividends and buybacks.
  • In fiscal year 2023, NetApp repurchased $850 million in stock.
  • At the end of fiscal year 2023, the company authorized an additional $1 billion for share repurchases, with approximately $400 million remaining from prior authorizations.

Share Issuance

  • No significant dollar amounts for share issuance for capital raising purposes were explicitly detailed. However, the diluted share count decreased year-over-year, for example, by 5% in Q4 fiscal year 2023, reflecting the impact of share repurchases.

Inbound Investments

  • No information available regarding large investments made in NetApp by third parties.

Outbound Investments

  • NetApp completed the acquisition of CloudCheckr, a cloud optimization platform, in February 2022.

Capital Expenditures

  • NetApp reported cash flow from operations of $1.51 billion in fiscal year 2025 and $1.69 billion in fiscal year 2024.
  • The company consistently directs investments towards product innovation, focusing on its all-flash array portfolio and cloud storage services, with new system launches and enhanced capabilities occurring in Q3 fiscal year 2025.
  • Capital expenditures are primarily focused on strategic growth areas such as AI, hybrid cloud, and data security, aligning with customers' digital transformation priorities.

Interactive Breakdown

NetApp Interactive Breakdown Analysis

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Peer Comparisons

Peers to compare with:

Financials

NTAPDELLHPEPSTGIBMAMZNMedian
NameNetApp Dell Tec.Hewlett .Everpure Internat.Amazon.c. 
Mkt Price167.04394.3949.20-284.84246.03246.03
Mkt Cap33.2260.365.7-267.32,643.1260.3
Rev LTM6,925113,53838,794-68,912742,77668,912
Op Inc LTM1,6958,2512,248-12,94685,4228,251
FCF LTM1,8698,5523,989-12,258-2,4723,989
FCF 3Y Avg1,5795,4472,353-12,26921,3465,447
CFO LTM2,06711,1856,358-13,992148,53111,185
CFO 3Y Avg1,7538,1274,739-13,988120,5278,127

Growth & Margins

NTAPDELLHPEPSTGIBMAMZNMedian
NameNetApp Dell Tec.Hewlett .Everpure Internat.Amazon.c. 
Rev Chg LTM5.4%18.8%22.6%-9.7%14.2%14.2%
Rev Chg 3Y Avg2.9%4.4%10.0%-4.5%12.3%4.5%
Rev Chg Q12.5%39.5%40.0%-9.5%16.6%16.6%
QoQ Delta Rev Chg LTM3.2%9.1%8.5%-2.0%3.6%3.6%
Op Inc Chg LTM18.9%29.2%1.7%-26.0%19.2%19.2%
Op Inc Chg 3Y Avg13.6%13.2%-4.8%-15.6%108.4%13.6%
Op Mgn LTM24.5%7.3%5.8%-18.8%11.5%11.5%
Op Mgn 3Y Avg22.1%6.9%6.9%-16.8%10.2%10.2%
QoQ Delta Op Mgn LTM1.3%0.2%1.0%-0.3%0.3%0.3%
CFO/Rev LTM29.8%9.9%16.4%-20.3%20.0%20.0%
CFO/Rev 3Y Avg26.5%8.1%14.4%-21.7%18.1%18.1%
FCF/Rev LTM27.0%7.5%10.3%-17.8%-0.3%10.3%
FCF/Rev 3Y Avg23.9%5.4%7.0%-19.0%3.5%7.0%

Valuation

NTAPDELLHPEPSTGIBMAMZNMedian
NameNetApp Dell Tec.Hewlett .Everpure Internat.Amazon.c. 
Mkt Cap33.2260.365.7-267.32,643.1260.3
P/S4.82.31.7-3.93.63.6
P/Op Inc19.631.529.2-20.630.929.2
P/EBIT18.929.529.2-21.422.422.4
P/E26.143.942.2-24.929.129.1
P/CFO16.123.310.3-19.117.817.8
Total Yield5.1%2.8%3.5%-6.4%3.4%3.5%
Dividend Yield1.2%0.6%1.1%-2.3%0.0%1.1%
FCF Yield 3Y Avg8.0%7.8%8.6%-5.9%1.1%7.8%
D/E0.10.10.3-0.30.10.1
Net D/E-0.00.10.2-0.20.00.1

Returns

NTAPDELLHPEPSTGIBMAMZNMedian
NameNetApp Dell Tec.Hewlett .Everpure Internat.Amazon.c. 
1M Rtn41.6%51.4%56.9%-24.0%-9.8%41.6%
3M Rtn66.1%169.2%134.3%-10.9%15.4%66.1%
6M Rtn43.9%185.2%113.5%--6.3%7.2%43.9%
12M Rtn60.3%250.9%178.5%-8.6%15.2%60.3%
3Y Rtn152.7%766.0%237.9%-133.4%98.0%152.7%
1M Excs Rtn49.2%64.9%61.7%-26.9%-10.8%49.2%
3M Excs Rtn56.6%159.7%124.8%-1.3%5.8%56.6%
6M Excs Rtn39.3%188.6%116.0%--12.4%-1.9%39.3%
12M Excs Rtn40.4%230.5%159.1%--13.6%-4.9%40.4%
3Y Excs Rtn91.2%748.9%193.6%-67.4%27.4%91.2%

Financials

Segment Financials

Revenue by Segment
$ Mil20262025202420232022
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

Price Behavior
Market Price$167.04 
Market Cap ($ Bil)33.1 
First Trading Date11/21/1995 
Distance from 52W High-7.8% 
   50 Days200 Days
DMA Price$119.41$111.77
DMA Trendupup
Distance from DMA39.9%49.4%
 3M1YR
Volatility60.9%40.4%
Downside Capture2.47120.52
Upside Capture189.37145.71
Correlation (SPY)13.8%38.7%
NTAP Betas & Captures as of 5/31/2026

 1M2M3M6M1Y3Y
Beta0.350.010.561.191.321.20
Up Beta-8.93-1.62-0.89-0.150.601.02
Down Beta0.940.071.112.031.911.34
Up Capture657%270%228%217%194%234%
Bmk +ve Days13283667141432
Stock +ve Days11243565128398
Down Capture-75%-158%-23%98%113%105%
Bmk -ve Days7132757109318
Stock -ve Days8162758121352

[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 NTAP
NTAP64.4%40.3%1.32-
Sector ETF (XLK)53.4%22.0%1.8645.6%
Equity (SPY)25.3%12.1%1.5740.6%
Gold (GLD)27.6%26.9%0.881.5%
Commodities (DBC)36.9%19.0%1.520.2%
Real Estate (VNQ)12.5%13.3%0.637.4%
Bitcoin (BTCUSD)-42.0%42.5%-1.1620.5%

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 NTAP
NTAP19.4%33.8%0.58-
Sector ETF (XLK)22.1%25.1%0.7857.4%
Equity (SPY)13.5%17.1%0.6255.9%
Gold (GLD)17.3%18.1%0.785.7%
Commodities (DBC)9.5%19.4%0.3813.3%
Real Estate (VNQ)3.2%18.8%0.0734.0%
Bitcoin (BTCUSD)11.3%54.6%0.4021.2%

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 NTAP
NTAP24.0%35.9%0.70-
Sector ETF (XLK)24.8%24.6%0.9157.5%
Equity (SPY)15.3%17.9%0.7358.6%
Gold (GLD)13.0%16.0%0.671.3%
Commodities (DBC)7.1%18.0%0.3218.7%
Real Estate (VNQ)5.6%20.7%0.2437.3%
Bitcoin (BTCUSD)63.3%66.9%1.0313.8%

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

Short Interest

Short Interest: As Of Date5152026
Short Interest: Shares Quantity23.9 Mil
Short Interest: % Change Since 430202611.1%
Average Daily Volume2.3 Mil
Days-to-Cover Short Interest10.6 days
Basic Shares Quantity199.0 Mil
Short % of Basic Shares12.0%

Returns Analyses

Earnings Returns History

Updated 6/8/2026
Expand for More
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
5/28/202622.4%25.6% 
2/26/2026-0.1%3.0%3.8%
11/25/2025-2.0%4.0%-2.7%
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%
...
SUMMARY STATS   
# Positive141412
# Negative101011
Median Positive4.6%6.7%9.6%
Median Negative-4.6%-3.5%-6.8%
Max Positive22.4%25.6%22.3%
Max Negative-15.6%-22.3%-25.2%

SEC Filings

Expand for More
Report DateFiling DateFiling
04/30/202606/05/202610-K
01/31/202602/26/202610-Q
10/31/202511/25/202510-Q
07/31/202508/27/202510-Q
04/30/202506/09/202510-K
01/31/202502/27/202510-Q
10/31/202411/25/202410-Q
07/31/202408/28/202410-Q
04/30/202406/10/202410-K
01/31/202402/29/202410-Q
10/31/202311/30/202310-Q
07/31/202308/29/202310-Q
04/30/202306/14/202310-K
01/31/202303/01/202310-Q
10/31/202212/01/202210-Q
07/31/202208/30/202210-Q

Recent Forward Guidance

Updated 5/31/2026

Latest: Q4 2026 Earnings Reported 5/28/2026

Forward GuidanceGuidance Change
MetricLowMidHigh% Chg% DeltaChangePrior
Q1 2027 Revenue1.75 Bil1.82 Bil1.90 Bil-2.4% LoweredGuidance: 1.87 Bil for Q4 2026
Q1 2027 EPS1.351.41.45-22.7% Lower NewGuidance: 1.81 for Q4 2026
2027 Revenue7.33 Bil7.45 Bil7.58 Bil8.8% Higher NewGuidance: 6.85 Bil for 2026
2027 EPS6.516.666.818.8% Higher NewGuidance: 6.12 for 2026

Prior: Q3 2026 Earnings Reported 2/26/2026

Forward GuidanceGuidance Change
MetricLowMidHigh% Chg% DeltaChangePrior
Q4 2026 Revenue1.79 Bil1.87 Bil1.95 Bil10.6% RaisedGuidance: 1.69 Bil for Q3 2026
Q4 2026 GAAP EPS1.761.811.8615.3% RaisedGuidance: 1.57 for Q3 2026
Q4 2026 Non-GAAP EPS2.212.262.3144.0% RaisedGuidance: 1.57 for Q3 2026
2026 Revenue6.77 Bil6.85 Bil6.92 Bil1.4% RaisedGuidance: 6.75 Bil for 2026
2026 GAAP EPS6.076.126.172.5% RaisedGuidance: 5.97 for 2026
2026 Non-GAAP EPS7.927.978.0233.5% RaisedGuidance: 5.97 for 2026

Insider Activity

Updated 6/5/2026
Expand for More
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value		Value of
Held Shares		Form
1Held, Gerald DirectSell6052026180.007,1321,283,7602,479,500Form
2De, Lorenzo DanielVP, Controller & CAODirectSell6032026171.0922538,495186,488Form
3De, Lorenzo DanielVP, Controller & CAODirectSell5202026120.0027533,000130,800Form
4O'Callahan, Elizabeth MEVP, Chief Admin. OfficerDirectSell5132026117.731,000117,7302,164,113Form
5O'Callahan, Elizabeth MEVP, Chief Admin. OfficerDirectSell414202696.251,00096,2501,865,518Form

Industry Resources

Information Technology Resources
TechCrunch
Wired
CIO
MIT Technology Review
Gartner Insights
Ars Technica
Technology Hardware, Storage & Peripherals Resources
The Verge
TechRadar
Tom’s Hardware
PCMag
CNET

External Quote Links


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Core Cache Last Updated: 6/7/2026