Tearsheet

NetApp (NTAP)

Market Price (9/13/2025): $124.69 | Market Cap: $25.1 Bil
Sector: Information Technology | Industry: Technology Hardware, Storage & Peripherals

NetApp (NTAP)

Market Price (9/13/2025): $124.69
Market Cap: $25.1 Bil
Sector: Information Technology
Industry: Technology Hardware, Storage & Peripherals

Investment Highlights

0	Attractive yield Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 6.4%, FCF Yield is 6.7%	Trading close to highs Dist 52W High is -4.4%	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 6.4%, FCF Yield is 6.7%
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	Trading close to highs Dist 52W High is -4.4%
4	Weak revenue growth Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is 0.8%

Market Valuation

	9/13/25	2024	2023	2022
Share Price CYE	$124.69	$114.82	$85.58	$56.62
Market Cap CYE ($ Bil)	25.1	23.4	17.8	12.3
Total Debt ($ Bil)	2.7	3.5	2.7	2.7
Total Cash ($ Bil)	3.3	3.8	3.3	3.1
Enterprise Value ($ Bil)	24.5	26.9	20.5	15.0
Valuation Ratios
P/S TTM	3.8	3.6	2.9	2.0
P/EBIT TTM	17.1	16.4	13.8	11.5
P/E TTM	21.4	20.0	18.6	10.2
Sector Ratios
P/S TTM (Sector)	3.2	3.1	2.8	2.5
P/EBIT TTM (Sector)	4.3	-0.0	-0.1	-0.5
P/E TTM (Sector)	-0.4	-0.3	-0.4	-0.5

	9/13/25	2024
Share Price CYE	$124.69	$114.82
Market Cap CYE ($ Bil)	25.1	23.4
Total Debt ($ Bil)	2.7	3.5
Total Cash ($ Bil)	3.3	3.8
Enterprise Value ($ Bil)	24.5	26.9
Valuation Ratios
P/S TTM	3.8	3.6
P/EBIT TTM	17.1	16.4
P/E TTM	21.4	20.0
Sector Ratios
P/S TTM (Sector)	3.2	3.1
P/EBIT TTM (Sector)	4.3	-0.0
P/E TTM (Sector)	-0.4	-0.3

Stock Price
Market Cap

Stock Price Chart

Return (1Y):

Market Cap Chart

Business Description

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. Show more

Price Returns Compared

Expand for Detailed View

	2020	2021	2022	2023	2024	2025	Total [1]
Returns
NTAP Return	11%	42%	-33%	51%	34%	9%	111%
Peers Return	12%	49%	-12%	52%	40%	19%	271%
S&P 500 Return	16%	27%	-19%	24%	23%	12%	101%

[1] Cumulative total returns since the beginning of 2020
[2] Peers: IBM, ANET, PSTG, NTNX, TDC. See NTAP Returns vs. Peers.
[3] 2025 data is for the year up to 9/12/2025 (YTD)

Interactive Breakdown

NetApp Interactive Breakdown Analysis

Latest Trefis Analyses

	Title	Topic	Date
0	DASHBOARDS
1	NetApp Earnings Notes
2	How Does NTAP Stack Up Against Its Peers?	Peer Comparison
3	Better Bet Than NTAP Stock: Pay Less Than NetApp To Get More From TMUS, DIS
4	Better Bet Than NTAP Stock: Pay Less Than NetApp To Get More From FSLR, IDCC
5	NTAP Dip Buy Analysis
6	NetApp Total Shareholder Return (TSR): -9.2% in 2025 and 11.4% 3-yr compounded annual returns (below peer average)
7	NetApp (NTAP) Operating Cash Flow Comparison	Financials
8	NetApp (NTAP) Net Income Comparison	Financials
9	NetApp (NTAP) Operating Income Comparison	Financials
10	NTAP YTD Stock Return Of 1.9% Outperforms TDC by 22% and Underperforms IBM by -17%	Return
11	ARTICLES
12	How Will NetApp’s Stock React To Its Upcoming Earnings?		August 25th, 2025
13	Better Bet Than Apple Stock: Pay Less To Get More From Industry Peers		July 9th, 2025
14	Will Q4 Results Move NetApp’s Stock Up?		May 27th, 2025
15	NetApp’s Stock Up 46%. What’s Next?		January 23rd, 2025
16	Up 45% This Year, Will Higher Flash Array Sales And Gen AI Drive NetApp Stock Higher?		June 24th, 2024

	Title
0	DASHBOARDS
1	How Will NetApp’s Stock React To Its Upcoming Earnings?
2	Better Bet Than Apple Stock: Pay Less To Get More From Industry Peers
3	Will Q4 Results Move NetApp’s Stock Up?
4	NetApp’s Stock Up 46%. What’s Next?
5	Up 45% This Year, Will Higher Flash Array Sales And Gen AI Drive NetApp Stock Higher?
6	ARTICLES
7	NetApp Earnings Notes
8	How Does NTAP Stack Up Against Its Peers?
9	Better Bet Than NTAP Stock: Pay Less Than NetApp To Get More From TMUS, DIS
10	Better Bet Than NTAP Stock: Pay Less Than NetApp To Get More From FSLR, IDCC
11	NTAP Dip Buy Analysis
12	NetApp Total Shareholder Return (TSR): -9.2% in 2025 and 11.4% 3-yr compounded annual returns (below peer average)
13	NetApp (NTAP) Operating Cash Flow Comparison
14	NetApp (NTAP) Net Income Comparison
15	NetApp (NTAP) Operating Income Comparison
16	NTAP YTD Stock Return Of 1.9% Outperforms TDC by 22% and Underperforms IBM by -17%

Recent Active Movers

1 Day Top Gainers

#	Ticker	Company	1D Rtn	YTD Rtn
1	GCTK	GlucoTrack	117.5%	-97.6%
2	OPI	Office Properties Income Trust	78.6%	-42.6%
3	HCWB	HCW Biologics	68.4%	-68.7%
4	AGAE	Allied Gaming & Entertainment	62.4%	86.8%
5	ATCH	AtlasClear	53.4%	-95.9%
6	SONN	Sonnet BioTherapeutics	49.0%	304.1%
7	EVTV	Envirotech Vehicles	48.4%	-66.3%
8	ISPC	iSpecimen	47.7%	-26.6%
9	ENTO	Entero Therapeutics	37.0%	68.8%
10	IBEX	IBEX	36.5%	93.5%

1 Day Top Losers

#	Ticker	Company	1D Rtn	YTD Rtn
1	NXTT	Next Technology	-57.4%	-93.8%
2	VCIG	VCI Global	-42.8%	-98.7%
3	RENT	Rent the Runway	-36.4%	-40.9%
4	NUAI	New Era Energy & Digital	-30.5%
5	AEI	Alset	-29.6%	156.9%
6	NAKA	Kindly MD	-29.5%
7	XTIA	XTI Aerospace	-24.6%	-85.8%
8	FARM	Farmer Bros	-21.5%	1.7%
9	FEIM	Frequency Electronics	-21.0%	46.5%
10	MSS	Maison Solutions	-20.4%	-27.6%

1 Week Top Gainers

#	Ticker	Company	1W Rtn	YTD Rtn
1	OCTO	Eightco	900.0%	562.1%
2	QMMM	QMMM	875.3%	5698.4%
3	WLDS	Wearable Devices	780.4%	8.0%
4	CWD	CaliberCos	268.8%	-45.1%
5	AIRE	ReAlpha Tech	257.5%	-49.8%
6	PTNM	Pitanium	154.0%
7	OPI	Office Properties Income Trust	144.0%	-42.6%
8	HYPD	Hyperion DeFi	144.0%
9	ISPC	iSpecimen	128.4%	-26.6%
10	EDHL	Everbright Digital	127.6%

1 Week Top Losers

#	Ticker	Company	1W Rtn	YTD Rtn
1	DGNX	Diginex	-85.6%
2	LGCL	Lucas GC	-69.1%	-76.6%
3	YYGH	YY	-68.7%	-76.6%
4	BINI	Bollinger Innovations	-61.6%	-100.0%
5	IPDN	Professional Diversity Network	-54.5%	-41.4%
6	INHD	Inno	-53.4%	-4.4%
7	CDT	CDT Equity	-49.2%	-99.4%
8	NFE	New Fortress Energy	-46.5%	-91.3%
9	TGHL	Growhub	-44.8%
10	SLXN	Silexion Therapeutics	-43.1%	-86.5%

1 Month Top Gainers

#	Ticker	Company	1M Rtn	YTD Rtn
1	PMI	Picard Medical	11249.2%	11249.2%
2	GIBO	GIBO	7400.0%
3	LNZA	LanzaTech Global	4710.5%	-85.8%
4	CHSN	Chanson International	3717.0%	-99.3%
5	QMMM	QMMM	2669.4%	5698.4%
6	VTAK	Catheter Precision	1332.7%	-71.4%
7	CURX	Curanex Pharmaceuticals	1309.0%	1309.0%
8	OCTO	Eightco	811.9%	562.1%
9	WLDS	Wearable Devices	708.6%	8.0%
10	PTNM	Pitanium	423.7%

1 Month Top Losers

#	Ticker	Company	1M Rtn	YTD Rtn
1	BINI	Bollinger Innovations	-93.4%	-100.0%
2	ETS	Elite Express	-92.8%	-92.8%
3	CJET	Chijet Motor	-92.7%	-94.6%
4	ELPW	Elong Power	-91.7%	-75.8%
5	STFS	Star Fashion Culture	-91.4%	-97.8%
6	JEM	707 Cayman	-90.4%	-98.0%
7	FLYE	Fly-E	-90.4%	-82.8%
8	NXTT	Next Technology	-89.3%	-93.8%
9	NUTR	NusaTrip	-87.2%	-87.2%
10	CUPR	Cuprina	-84.3%

Recent Active Movers

1 Day Top Gainers

#	Ticker	Company	1D Rtn	YTD Rtn
1	GCTK	GlucoTrack	117.5%	-97.6%
2	OPI	Office Properties Income Trust	78.6%	-42.6%
3	HCWB	HCW Biologics	68.4%	-68.7%
4	AGAE	Allied Gaming & Entertainment	62.4%	86.8%
5	ATCH	AtlasClear	53.4%	-95.9%
6	SONN	Sonnet BioTherapeutics	49.0%	304.1%
7	EVTV	Envirotech Vehicles	48.4%	-66.3%
8	ISPC	iSpecimen	47.7%	-26.6%
9	ENTO	Entero Therapeutics	37.0%	68.8%
10	IBEX	IBEX	36.5%	93.5%

1 Day Top Losers

#	Ticker	Company	1D Rtn	YTD Rtn
1	NXTT	Next Technology	-57.4%	-93.8%
2	VCIG	VCI Global	-42.8%	-98.7%
3	RENT	Rent the Runway	-36.4%	-40.9%
4	NUAI	New Era Energy & Digital	-30.5%
5	AEI	Alset	-29.6%	156.9%
6	NAKA	Kindly MD	-29.5%
7	XTIA	XTI Aerospace	-24.6%	-85.8%
8	FARM	Farmer Bros	-21.5%	1.7%
9	FEIM	Frequency Electronics	-21.0%	46.5%
10	MSS	Maison Solutions	-20.4%	-27.6%

1 Week Top Gainers

#	Ticker	Company	1W Rtn	YTD Rtn
1	OCTO	Eightco	900.0%	562.1%
2	QMMM	QMMM	875.3%	5698.4%
3	WLDS	Wearable Devices	780.4%	8.0%
4	CWD	CaliberCos	268.8%	-45.1%
5	AIRE	ReAlpha Tech	257.5%	-49.8%
6	PTNM	Pitanium	154.0%
7	OPI	Office Properties Income Trust	144.0%	-42.6%
8	HYPD	Hyperion DeFi	144.0%
9	ISPC	iSpecimen	128.4%	-26.6%
10	EDHL	Everbright Digital	127.6%

1 Week Top Losers

#	Ticker	Company	1W Rtn	YTD Rtn
1	DGNX	Diginex	-85.6%
2	LGCL	Lucas GC	-69.1%	-76.6%
3	YYGH	YY	-68.7%	-76.6%
4	BINI	Bollinger Innovations	-61.6%	-100.0%
5	IPDN	Professional Diversity Network	-54.5%	-41.4%
6	INHD	Inno	-53.4%	-4.4%
7	CDT	CDT Equity	-49.2%	-99.4%
8	NFE	New Fortress Energy	-46.5%	-91.3%
9	TGHL	Growhub	-44.8%
10	SLXN	Silexion Therapeutics	-43.1%	-86.5%

Peer Comparisons for NetApp

Financials

	NTAP	IBM	ANET	PSTG	NTNX	TDC	Median
Name	NetApp	Internat.	Arista N.	Pure Sto.	Nutanix	Teradata
Mkt Price	124.00	253.44	139.39	82.30	79.23	21.15	103.15
Mkt Cap	24.9	235.9	175.1	26.9	21.2	2.0	25.9
Rev LTM	6,590	64,038	7,951	3,253	2,433	1,675	4,922
Op Inc LTM	1,436	10,929	3,430	96	129	185	810
FCF LTM	1,658	11,646	3,975	566	767	263	1,212
FCF 3Y Avg	1,380	11,346	2,540	548	457	276	964
CFO LTM	1,838	13,282	4,047	816	847	284	1,342
CFO 3Y Avg	1,563	13,104	2,586	754	528	297	1,159

Growth & Margins

	NTAP	IBM	ANET	PSTG	NTNX	TDC	Median
Name	NetApp	Internat.	Arista N.	Pure Sto.	Nutanix	Teradata
Rev Chg LTM	3.3%	2.7%	26.0%	10.8%	16.1%	-6.7%	7.1%
Rev Chg 3Y Avg	0.8%	2.4%	32.1%	10.9%	15.4%	-3.4%	6.6%
Rev Chg Q	1.2%	7.7%	30.4%	12.3%	21.8%	-6.4%	10.0%
QoQ Delta Rev Chg LTM	0.3%	1.9%	6.9%	2.7%	4.9%	-1.6%	2.3%
Op Mgn LTM	21.8%	17.1%	43.1%	2.9%	5.3%	11.0%	14.1%
Op Mgn 3Y Avg	20.2%	15.9%	40.2%	2.7%	-4.4%	9.9%	12.9%
QoQ Delta Op Mgn LTM	0.1%	0.7%	0.9%	-0.2%	2.3%	-2.3%	0.4%
CFO/Rev LTM	27.9%	20.7%	50.9%	25.1%	34.8%	17.0%	26.5%
CFO/Rev 3Y Avg	24.4%	21.0%	37.6%	25.4%	24.1%	16.9%	24.3%
FCF/Rev LTM	25.2%	18.2%	50.0%	17.4%	31.5%	15.7%	21.7%
FCF/Rev 3Y Avg	21.5%	18.2%	36.9%	18.5%	20.7%	15.7%	19.6%

Valuation

	NTAP	IBM	ANET	PSTG	NTNX	TDC	Median
Name	NetApp	Internat.	Arista N.	Pure Sto.	Nutanix	Teradata
Mkt Cap	24.9	235.9	175.1	26.9	21.2	2.0	25.9
P/S	3.8	3.7	22.0	8.3	8.7	1.2	6.0
P/EBIT	17.0	29.2	51.1	146.4	122.7	11.5	40.1
P/E	21.3	40.4	53.9	210.4	897.7	18.3	47.1
P/CFO	13.6	17.8	43.3	32.9	25.0	7.1	21.4
Total Yield	6.4%	5.1%	1.9%	0.5%	0.1%	5.5%	3.5%
Dividend Yield	1.7%	2.6%	0.0%	0.0%	0.0%	0.0%	0.0%
FCF Yield 3Y Avg	6.6%	6.8%	2.5%	3.5%	3.2%	8.6%	5.0%
D/E	0.1	0.3	0.0	0.0	0.1	0.3	0.1
Net D/E	-0.0	0.2	-0.1	-0.0	-0.0	0.1	-0.0

Returns

	NTAP	IBM	ANET	PSTG	NTNX	TDC	Median
Name	NetApp	Internat.	Arista N.	Pure Sto.	Nutanix	Teradata
1M Rtn	13.3%	5.6%	1.0%	38.2%	12.9%	-1.2%	9.2%
3M Rtn	23.4%	-8.0%	50.9%	59.3%	9.8%	-1.4%	16.6%
6M Rtn	35.7%	3.4%	66.9%	61.6%	14.0%	-6.8%	24.9%
12M Rtn	8.1%	23.2%	56.9%	70.5%	30.4%	-23.9%	26.8%
3Y Rtn	86.5%	123.6%	364.9%	177.7%	249.5%	-34.7%	150.6%
1M Excs Rtn	11.5%	3.7%	-0.8%	36.4%	11.1%	-3.0%	7.4%
3M Excs Rtn	11.5%	-18.1%	36.6%	42.1%	-1.3%	-13.6%	5.1%
6M Excs Rtn	19.3%	-14.8%	54.7%	50.3%	-0.5%	-22.9%	9.4%
12M Excs Rtn	-10.3%	7.1%	50.8%	56.4%	11.7%	-43.1%	9.4%
3Y Excs Rtn	22.0%	57.4%	298.2%	116.2%	187.2%	-100.3%	86.8%

Comparison Analyses

	Title
0	How Does NTAP Stack Up Against Its Peers?
1	NetApp vs. Nutanix: With Return Forecast Of -46%, NetApp Is A Better Bet
2	IBM Looks Stronger Than NTAP With 3.2% Return Potential
3	ANET Could Deliver 30% Returns And Outperform NTAP
4	Why TDC With 5.0% Upside May Beat NTAP?
5	NTAP or PSTG - With 17% Return Forecast, PSTG Probably Deserves Your Money
6	NetApp vs. Synopsys: With Return Forecast Of 8.7%, Synopsys Is A Better Bet
7	NetApp vs. Intuitive Surgical: With Return Forecast Of 52%, Intuitive Surgical Is A Better Bet
8	NetApp vs. Boston Scientific: With Return Forecast Of 1.2%, Boston Scientific Is A Better Bet
9	NetApp vs. Edwards Lifesciences: With Return Forecast Of 19%, Edwards Lifesciences Is A Better Bet

Financials

Annual
Quarterly

$ Mil \| FY: 4/25	LTM	2025	2024	2023	2022	2021	2020
Period End		4/25/2025	4/26/2024	4/28/2023	4/29/2022	4/30/2021	4/24/2020
Filing Date		6/9/2025	6/10/2024	6/14/2023	6/16/2022	6/21/2021	6/15/2020
Key Financials
Total Revenue	6,590	6,572	6,268	6,362	6,318	5,744	5,412
Ebitda	1,696	1,690	1,582	1,381	1,362	1,243	1,192
Operating Income	1,436	1,425	1,268	1,159	1,203	933	928
Net Income	1,171	1,186	986	1,274	937	730	819
EPS	5.77	5.81	4.74	5.87	4.20	3.29	3.56
Growth Rates
Total Revenue Growth	3.3%	4.9%	-1.5%	0.7%	10.0%	6.1%	-11.9%
EBITDA Growth	0.1%	6.8%	14.6%	1.4%	9.6%	4.3%	-21.7%
Operating Income Growth	5.5%	12.4%	9.4%	-3.7%	28.9%	0.5%	-21.6%
Net Income Growth	7.9%	20.3%	-22.6%	36.0%	28.4%	-10.9%	-29.9%
Margins
EBITDA Margin	25.7%	25.7%	25.2%	21.7%	21.6%	21.6%	22.0%
Operating Income Margin	21.8%	21.7%	20.2%	18.2%	19.0%	16.2%	17.1%
Net Income Margin	17.8%	18.0%	15.7%	20.0%	14.8%	12.7%	15.1%
Cash & Debt
Total Cash	3,324	3,846	3,252	3,070	4,134	4,596	2,882
Total Debt	2,745	3,491	2,652	2,684	2,940	2,752	1,812
Net Debt / (Cash)	-579	-355	-600	-386	-1,194	-1,844	-1,070
Cash Flows
Net Cash from Operations	1,838	1,506	1,685	1,107	1,211	1,333	1,060
Free Cash from Operations	1,658	1,338	1,530	868	985	1,171	936
Returns to Shareholders
Dividends	421	424	416	432	446	427	439
Share Repurchases	1,050	1,150	900	850	600	125	1,411

$ Mil \| FY: 4/25	2026Q1	2025Q4	2025Q3	2025Q2	2025Q1	2024Q4	2024Q3	2024Q2	2024Q1	2023Q4	2023Q3	2023Q2
Period End	7/25/2025	4/25/2025	1/24/2025	10/25/2024	7/26/2024	4/26/2024	1/26/2024	10/27/2023	7/28/2023	4/28/2023	1/27/2023	10/28/2022
Filing Date	8/27/2025	6/9/2025	2/27/2025	11/25/2024	8/28/2024	6/10/2024	2/29/2024	11/30/2023	8/29/2023	6/14/2023	3/1/2023	12/1/2022
Key Financials Quarterly
Total Revenue	1,559	1,732	1,641	1,658	1,541	1,668	1,606	1,562	1,432	1,581	1,526	1,663
Ebitda	384	428	446	438	378	460	462	394	266	396	258	381
Operating Income	311	394	373	358	300	367	382	312	207	323	262	298
Net Income	233	340	299	299	248	291	313	233	149	245	65	750
EPS	1.16	1.67	1.47	1.47	1.20	1.41	1.52	1.12	0.70	1.15	0.30	3.46
Key Financials TTM
Total Revenue TTM	6,590	6,572	6,508	6,473	6,377	6,268	6,181	6,101	6,202	6,362	6,461	6,549
Ebitda TTM	1,696	1,690	1,722	1,738	1,694	1,582	1,518	1,314	1,301	1,381	1,326	1,444
Operating Income TTM	1,436	1,425	1,398	1,407	1,361	1,268	1,224	1,104	1,090	1,159	1,138	1,203
Net Income TTM	1,171	1,186	1,137	1,151	1,085	986	940	692	1,209	1,274	1,288	1,475
Growth Rates Quarterly
Total Revenue Growth	1.2%	3.8%	2.2%	6.1%	7.6%	5.5%	5.2%	-6.1%	-10.1%	-5.9%	-5.5%	6.2%
EBITDA Growth	1.6%	-7.0%	-3.5%	11.2%	42.1%	16.2%	79.1%	3.4%	-23.1%	16.1%	-31.4%	10.8%
Operating Income Growth	3.7%	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 Margin	24.6%	24.7%	27.2%	26.4%	24.5%	27.6%	28.8%	25.2%	18.6%	25.0%	16.9%	22.9%
Operating Income Margin	19.9%	22.7%	22.7%	21.6%	19.5%	22.0%	23.8%	20.0%	14.5%	20.4%	17.2%	17.9%
Net Income Margin	14.9%	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 Cash	3,324	3,846	2,261	2,222	3,017	3,252	2,917	2,620	2,975	3,070	3,141	3,033
Total Debt	2,745	3,491	2,250	2,250	2,648	2,652	2,656	2,662	2,672	2,684	2,690	2,695
Net Debt / (Cash)	-579	-355	-11	28	-369	-600	-261	42	-303	-386	-451	-338
Cash Flows Quarterly
FCF from Operations	673	675	385	105	341	613	484	135	453	235	377	214
Cash Flows TTM
FCF from Operations TTM	1,838	1,506	1,444	1,543	1,573	1,685	1,307	1,200	1,279	1,107	1,283	1,166
Returns to Shareholders Quarterly
Dividends	104	105	106	106	107	104	103	103	106	106	108	108
Share Repurchases	300	250	200	300	400	100	100	300	400	150	200	150
Return on Invested Capital (ROIC) Quarterly
ROIC	240.8%	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 TTM	305.9%	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

$ Mil	2025	2024	2023	2022	2021
Hybrid Cloud	5,657	5,787	5,922	5,545
Public Cloud	611	575	396	199
Hardware maintenance and other services					1,383
Product					2,995
Software					1,034
Total	6,268	6,362	6,318	5,744	5,412

Price Behavior

Behavior Stats
Betas Matrix

Price Behavior

Market Price	$124.00
Market Cap ($ Bil)	24.9
First Trading Date	11/21/1995
Distance from 52W High	-4.4%
	50 Days	200 Days
DMA Price	$109.41	$106.62
DMA Trend	down	up
Distance from DMA	13.3%	16.3%
	3M	1YR
Volatility	24.8%	36.9%
Downside Capture	108.10	153.07
Upside Capture	164.81	135.04
Correlation (SPY)	63.8%	65.8%

NTAP Betas & Captures as of 8/31/2025

	1M	2M	3M	6M	1Y	3Y
Beta	1.84	1.83	1.75	1.29	1.23	1.13
Up Beta	0.70	2.17	2.48	1.27	1.10	1.01
Down Beta	2.05	2.46	2.16	1.30	1.15	1.17
Up Capture	256%	144%	138%	146%	151%	167%
Bmk +ve Days	10	22	35	71	142	415
Stock +ve Days	13	22	34	66	134	395
Down Capture	178%	146%	124%	120%	128%	104%
Bmk -ve Days	11	19	27	54	106	334
Stock -ve Days	8	19	28	59	114	352

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

Short Interest

Short Interest: As Of Date	8292025
Short Interest: Shares Quantity	10,107,107
Short Interest: % Change Since 8152025	2.5%
Average Daily Volume	2,403,199
Days-to-Cover Short Interest	4.21
Basic Shares Quantity	201,000,000
Short % of Basic Shares	5.0%

Returns Analyses

	Title
0	NTAP YTD Stock Return Of 1.9% Outperforms TDC by 22% and Underperforms IBM by -17%
1	NTAP Jumped 13% In A Month. What To Do Now?
2	NetApp During 2008 Recession vs. 2022 Inflation Shock: NTAP Stock Is Now 41% Higher Than Its Pre-Shock High
3	NetApp (NTAP) Stock Has 54% Chance Of Rise In The Next One Month
4	NTAP YTD Stock Return Of -23% Outperforms NTNX by 25% and Underperforms IBM by -20%
5	NetApp Stock Return Comparison
6	[10/2/2021] NetApp (NTAP) Stock Price Forecast: AI Forecasts NTAP Stock Price To Be Around $91 In A Month (Up 0.5%)
7	NetApp Total Shareholder Return (TSR): -11.4% in 2023 and 16.0% 3-yr returns (below peer average)

Earnings Returns History

Expand for More

	Forward Returns
Earnings Date	1D Returns	5D Returns	21D Returns
8/27/2025	4.5%	6.0%
5/29/2025	-0.1%	5.4%	7.4%
2/27/2025	-15.6%	-22.3%	-24.7%
11/21/2024	-3.4%	-3.2%	-6.8%
8/28/2024	-9.6%	-11.4%	-8.1%
5/30/2024	3.4%	4.3%	11.8%
2/29/2024	18.2%	17.0%	17.9%
11/28/2023	14.6%	16.0%	12.9%
...
SUMMARY STATS
# Positive	14	12	11
# Negative	10	12	13
Median Positive	4.3%	6.7%	11.8%
Median Negative	-5.8%	-3.5%	-8.9%
Max Positive	18.2%	17.0%	22.3%
Max Negative	-15.6%	-22.3%	-32.9%

	Forward Returns
8/27/2025	4.5%	6.0%
5/29/2025	-0.1%	5.4%	7.4%
2/27/2025	-15.6%	-22.3%	-24.7%
11/21/2024	-3.4%	-3.2%	-6.8%
8/28/2024	-9.6%	-11.4%	-8.1%
5/30/2024	3.4%	4.3%	11.8%
2/29/2024	18.2%	17.0%	17.9%
11/28/2023	14.6%	16.0%	12.9%
8/23/2023	-1.3%	-0.1%	-0.7%
5/31/2023	8.5%	7.0%	15.1%
2/22/2023	0.6%	-1.9%	-6.5%
11/29/2022	-5.8%	-12.1%	-16.3%
8/24/2022	7.9%	-0.9%	-12.8%
6/1/2022	0.5%	-3.4%	-13.4%
2/23/2022	-5.7%	-3.6%	2.6%
11/30/2021	0.7%	2.0%	3.2%
8/25/2021	4.7%	8.6%	13.8%
6/2/2021	2.1%	6.4%	6.4%
2/24/2021	-14.5%	-10.9%	-1.8%
12/1/2020	9.4%	11.8%	22.3%
8/26/2020	4.0%	14.1%	-0.6%
5/27/2020	-4.6%	-1.3%	-9.7%
2/12/2020	-9.3%	-11.7%	-32.9%
11/13/2019	3.2%	2.3%	5.3%
SUMMARY STATS
# Positive	14	12	11
# Negative	10	12	13
Median Positive	4.3%	6.7%	11.8%
Median Negative	-5.8%	-3.5%	-8.9%
Max Positive	18.2%	17.0%	22.3%
Max Negative	-15.6%	-22.3%	-32.9%

SEC Filings

Expand for More

Report Date	Filing
7312025	10-Q 7/25/2025
4302025	10-K 4/25/2025
1312025	10-Q 1/24/2025
10312024	10-Q 10/25/2024
7312024	10-Q 7/26/2024
4302024	10-K 4/26/2024
1312024	10-Q 1/26/2024
10312023	10-Q 10/27/2023
7312023	10-Q 7/28/2023
4302023	10-K 4/28/2023
1312023	10-Q 1/27/2023
10312022	10-Q 10/28/2022
7312022	10-Q 7/29/2022
4302022	10-K 4/29/2022
1312022	10-Q 1/28/2022
10312021	10-Q 10/29/2021

Insider Activity

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	Owner	Title	Filing Date	Action	Price	Shares	Transacted Value	Value of Held Shares	Form
0	Kurian George	CEO	8202025	Sell	108.85	8,500	925,225	30,879,439	Form
1	O'Callahan Elizabeth M	EVP, Chief Admin. Officer	8122025	Sell	105.90	1,000	105,900	2,462,281	Form
2	Kurian George	CEO	7232025	Sell	108.08	8,500	918,680	31,160,004	Form
3	O'Callahan Elizabeth M	EVP, Chief Admin. Officer	7142025	Sell	106.84	1,000	106,840	2,590,977	Form
4	Kurian George	CEO	6182025	Sell	101.78	8,500	865,130	30,208,813	Form

Collapse to Preview

	Owner	Title	Filing Date	Action	Price	Shares	Transacted Value	Value of Held Shares	Form
0	Kurian George	CEO	8202025	Sell	108.85	8,500	925,225	30,879,439	Form
1	O'Callahan Elizabeth M	EVP, Chief Admin. Officer	8122025	Sell	105.90	1,000	105,900	2,462,281	Form
2	Kurian George	CEO	7232025	Sell	108.08	8,500	918,680	31,160,004	Form
3	O'Callahan Elizabeth M	EVP, Chief Admin. Officer	7142025	Sell	106.84	1,000	106,840	2,590,977	Form
4	Kurian George	CEO	6182025	Sell	101.78	8,500	865,130	30,208,813	Form
5	O'Callahan Elizabeth M	EVP, Chief Admin. Officer	6122025	Sell	103.06	528	54,416	2,602,368	Form
6	De Lorenzo Daniel	VP, Controller & CAO	6052025	Sell	98.77	302	29,829	44,940	Form
7	Kurian George	CEO	5212025	Sell	99.68	4,159	414,569	30,865,513	Form
8	O'Callahan Elizabeth M	EVP, Chief Admin. Officer	5132025	Sell	97.50	452	44,070	1,169,708	Form
9	Kurian George	CEO	4232025	Sell	81.83	8,500	695,555	20,438,270	Form
10	O'Callahan Elizabeth M	EVP, Chief Admin. Officer	4112025	Sell	83.14	451	37,496	1,035,010	Form
11	GUSTAFSSON ANDERS		3312025	Buy	91.00	2,800	254,800	577,668	Form
12	CERNUDA CESAR	President	3312025	Sell	89.91	12,306	1,106,432	1,736,881	Form
13	Kurian George	CEO	3192025	Sell	92.48	5,430	502,166	24,168,261	Form
14	O'Callahan Elizabeth M	EVP, Chief Admin. Officer	3112025	Sell	92.58	528	48,882	1,194,282	Form
15	BERRY MICHAEL J	EVP, CFO	3062025	Sell	93.21	4,569	425,876	10,115,988	Form
16	De Lorenzo Daniel	VP, Controller & CAO	2212025	Sell	121.28	299	36,263		Form
17	Kurian George	CEO	2202025	Sell	118.57	4,189	496,690	32,141,481	Form
18	O'Callahan Elizabeth M	EVP, Chief Legal Officer	2122025	Sell	120.75	452	54,579	1,395,025	Form
19	BERRY MICHAEL J	EVP, CFO	2062025	Sell	119.37	1,721	205,436	15,998,206	Form
20	Kurian George	CEO	1232025	Sell	122.81	4,474	549,452	33,810,575	Form
21	O'Callahan Elizabeth M	EVP, Chief Legal Officer	1142025	Sell	116.79	451	52,672	1,402,064	Form
22	BERRY MICHAEL J	EVP, CFO	1102025	Sell	116.76	1,615	188,567	18,579,785	Form
23	CERNUDA CESAR	President	12312024	Sell	114.99	22,000	2,529,780	3,116,114	Form
24	Kurian George	CEO	12182024	Sell	123.24	1,836	226,269	35,301,605	Form
25	BERRY MICHAEL J	EVP, CFO	12122024	Sell	121.11	2,402	290,906	20,993,329	Form
26	O'Callahan Elizabeth M	EVP, Chief Legal Officer	12122024	Sell	127.41	770	98,106	1,587,019	Form
27	NEVENS THOMAS MICHAEL		11202024	Sell	118.21	294	34,754	1,455,874	Form
28	O'Callahan Elizabeth M	EVP, Chief Legal Officer	11132024	Sell	123.63	503	62,186	1,383,543	Form
29	Kurian George	CEO	10232024	Sell	125.71	3,279	412,203	37,461,454	Form
30	O'Callahan Elizabeth M	EVP, Chief Legal Officer	10112024	Sell	126.20	705	88,971	1,475,783	Form
31	CERNUDA CESAR	President	10022024	Sell	121.49	5,241	636,729	7,617,787	Form
32	De Lorenzo Daniel	VP, Controller & CAO	9262024	Sell	123.60	1,685	208,266		Form
33	NEVENS THOMAS MICHAEL		9202024	Sell	119.96	2,087	250,357	1,662,166	Form
34	Kurian George	CEO	9182024	Sell	116.44	2,875	334,765	35,735,785	Form
35	BERRY MICHAEL J	EVP, CFO	9122024	Sell	114.10	4,331	494,167	20,987,212	Form
36	O'Callahan Elizabeth M	EVP, Chief Legal Officer	9122024	Sell	114.69	704	80,742	1,422,041	Form

Industry Resources

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2	SeekingAlpha	ValueLine
3	Motley Fool	Robinhood
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6	YCharts	Perplexity Finance
7	FinViz

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NetApp (NTAP)

Market Price (9/13/2025): $124.69 | Market Cap: $25.1 BilSector: Information Technology | Industry: Technology Hardware, Storage & Peripherals

NetApp (NTAP)

Market Price (9/13/2025): $124.69Market Cap: $25.1 BilSector: Information TechnologyIndustry: Technology Hardware, Storage & Peripherals

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Market Price (9/13/2025): $124.69 | Market Cap: $25.1 Bil
Sector: Information Technology | Industry: Technology Hardware, Storage & Peripherals

Market Price (9/13/2025): $124.69
Market Cap: $25.1 Bil
Sector: Information Technology
Industry: Technology Hardware, Storage & Peripherals