Zacks Investment Research·Jun 25, 2026
Western Digital vs. NetApp: Which Data Center Stock is the Smarter Bet?WDC's AI-driven HDD roadmap, rising cloud demand and strong estimate revisions highlight why it may offer more upside than NTAP.
NetApp, Inc.(NTAP)Earnings, Financials & Key Ratios
NTAP•NASDAQ
$165.78
26.1× P/E·Price updated Jul 7, 2026
AboutNetApp, Inc. provides cloud-led and data-centric services to manage and share data on-premises, and private and public clouds worldwide. It operates in two segments, Hybrid Cloud and Public Could. The company offers intelligent data management software, such as NetApp ONTAP, NetApp Snapshot, NetApp SnapCenter Backup Management, NetApp SnapMirror Data Replication, NetApp SnapLock Data Compliance, NetApp ElementOS software, and NetApp SANtricity software; and storage infrastructure solutions, including NetApp All-Flash FAS series, NetApp Fabric Attached Storage, NetApp FlexPod, NetApp E/EF series, NetApp StorageGRID, and NetApp SolidFire. It also provides cloud storage and data services comprising NetApp Cloud Volumes ONTAP, Azure NetApp Files, Amazon FSx for NetApp ONTAP, NetApp Cloud Volumes Service for Google Cloud, NetApp Cloud Sync, NetApp Cloud Tiering, NetApp Cloud Backup, NetApp Cloud Data Sense, and NetApp Cloud Volumes Edge Cache; and cloud operations services, such as NetApp Cloud Insights, Spot Ocean Kubernetes Suite, Spot Security, Spot Eco, and Spot CloudCheckr. In addition, the company offers application-aware data management service under the NetApp Astra name; and professional and support services, such as strategic consulting, professional, managed, and support services. Further, it provides assessment, design, implementation, and migration 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.Show more
- Revenue$6.92B+5.4%
- EBITDA$1.9B+19.9%
- Net Income$1.28B+7.6%
- EPS (Diluted)6.36+12.2%
- Gross Margin70.74%+0.8%
- EBITDA Margin27.36%+13.8%
- Operating Margin24.48%+20.3%
- Net Margin18.43%+2.1%
- ROE106.73%-1.6%
NTAP Price & Volume
NetApp, Inc. (NTAP) stock price & volume — 10-year historical chart
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Accelerating Revenue Growth Drives Strong Margin Expansion
Investment Thesis • Updated 2026Q4
VerdictPositive
Growth:Accelerating
Profitability:Strong
Financial:Fortress
Cash Flow:Robust
Primary Risk:Hyperscaler vertical integration
Key Thesis Takeaways
- NetApp is currently benefiting from an inflection in enterprise demand, evidenced by a 12.5% revenue growth rate in 2026Q4, as the company successfully pivots toward high-margin cloud-native data management.
- While the firm maintains a robust liquidity position with $3.6 billion in cash, investors should monitor the long-term competitive threat posed by hyperscaler proprietary storage tiers which may pressure current 70.1% gross margins.
- The company's disciplined capital allocation, including $200 million in quarterly share repurchases, supports shareholder value, though the persistent $100 million in quarterly stock-based compensation warrants ongoing scrutiny regarding dilution.
Verdict Logic
the company demonstrates strong operational leverage with a 27.3% operating margin and a significant $4.8 billion deferred revenue backlog that suggests durable future demand.
NTAP Growth Metrics
NetApp, Inc. (NTAP) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Revenue CAGR
10 Years2.25%
5 Years3.81%
3 Years2.87%
TTM5.37%
Profit CAGR
10 Years18.74%
5 Years11.82%
3 Years0.05%
TTM7.59%
EPS CAGR
10 Years23.51%
5 Years14.51%
3 Years3.18%
TTM11.97%
Return on Capital
10 Years19.94%
5 Years20.88%
3 Years22.91%
Last Year26.31%
NTAP Recent Earnings
NetApp, Inc. (NTAP) EPS & revenue vs analyst estimates — last 4 quarters
●Beat EPS 11/12 qtrs (92%)●Beat Revenue 10/12 qtrs (83%)
Q2 2026Latest
May 28, 2026Metric
Actual
Est
EPS
$2.43+7.0%
$2.27
Rev
$1.9B+4.1%
$1.9B
Q1 2026
Feb 26, 2026Metric
Actual
Est
EPS
$2.12+2.9%
$2.06
Rev
$1.7B+1.0%
$1.7B
Q4 2025
Nov 25, 2025Metric
Actual
Est
EPS
$2.05+9.0%
$1.88
Rev
$1.7B+1.0%
$1.7B
Q3 2025
Aug 27, 2025Metric
Actual
Est
EPS
$1.55+0.6%
$1.54
Rev
$1.6B+0.7%
$1.5B
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q2 2026Latest | May 28, 2026 | $2.43vs $2.27+7.0% | $1.9Bvs $1.9B+4.1% |
| Q1 2026 | Feb 26, 2026 | $2.12vs $2.06+2.9% | $1.7Bvs $1.7B+1.0% |
| Q4 2025 | Nov 25, 2025 | $2.05vs $1.88+9.0% | $1.7Bvs $1.7B+1.0% |
| Q3 2025 | Aug 27, 2025 | $1.55vs $1.54+0.6% | $1.6Bvs $1.5B+0.7% |
Based on last 12 quarters of dataView full earnings history →
Latest NTAP News
Recent stock market news and headlines for NetApp, Inc. (NTAP)
Business Wire·Jun 23, 2026
NetApp Enhances Support for AI Workloads at Massive ScaleSAN JOSE, Calif.--(BUSINESS WIRE)--NetApp® (NASDAQ: NTAP), the Intelligent Data Infrastructure company, today announced the release of StorageGRID 12.1, designed to help customers scale AI and other modern workloads with a federated global namespace. The new capabilities improve how data is accessed, processed, and managed across distributed environments to support AI data pipelines, data lakes, and modern object-based applications. Organizations are contending with rapid growth in unstructured.
Zacks Investment Research·Jun 22, 2026
TDC or NTAP: Which Is the Better Value Stock Right Now?Investors interested in Computer- Storage Devices stocks are likely familiar with Teradata (TDC) and NetApp (NTAP). But which of these two companies is the best option for those looking for undervalued stocks?
PRNewsWire·Jun 22, 2026
CGI and NetApp deepen global alliance to drive innovation, accelerate growth and strengthen client outcomesStock Market Symbols GIB.A (TSX) GIB (NYSE) cgi.com/newsroom Partnership delivers a combination of intelligent data infrastructure with deep cloud and AI expertise to modernize operations and improve performance across hybrid environments MONTRÉAL and SAN JOSE, Calif., June 22, 2026 /PRNewswire/ - CGI (TSX: GIB.A) (NYSE: GIB) and NetApp (NASDAQ: NTAP), the Intelligent Data Infrastructure company, today announced that NetApp Keystone will power CGI's block storage solutions within its shared services platform.
Zacks Investment Research·Jun 19, 2026
How Is NetApp Capitalizing on Rising All-Flash Adoption?NTAP's all-flash growth and AI-driven customer wins are accelerating as enterprises modernize infrastructure and expand data-intensive workloads.
Peers Comparison
Key metrics vs top competitors for NetApp, Inc. (NTAP)
| Company | Price | Market Cap | P/E Ratio | Rev Growth (1Y) | Net Margin | ROE | Div Yield |
|---|---|---|---|---|---|---|---|
| $165.78 | $32.83B | 26.07 | 5.37% | 18.43% | 106.73% | 1.25% | |
| $86.22 | $28.49B | 183.45 | — | 5.89% | 17.22% | — | |
| $43.45 | $57.53B | -974.10 | 14.06% | 3.9% | 6.11% | — | |
| $416.98 | $276.98B | 48.04 | 18.8% | 6.28% | — | — | |
| $306.13 | $287.16B | 27.41 | 7.62% | 15.61% | 35.44% | — | |
| $915.19 | $199.58B | 135.18 | 38.86% | 21.6% | 916.38% | — |
Compare NTAP vs Peers
NetApp, Inc. (NTAP) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
NTAP SEC Filings & Documents
NetApp, Inc. (NTAP) SEC filings — annual & quarterly reports (10-K, 10-Q)
8-K Announcements
6Material company update
May 28, 2026·SEC
Material company update
Feb 26, 2026·SEC
Material company update
Jan 12, 2026·SEC
10-K Annual Reports
310-Q Quarterly Reports
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NTAP Frequently Asked Questions
NetApp, Inc. (NTAP) stock FAQ — growth, dividends, profitability & financials explained
Growth & Financials
What is NetApp, Inc.'s revenue?
NetApp, Inc. (NTAP) reported $6.92B in revenue for fiscal year 2026. This represents a 7320% increase from $93.3M in 1997.
How fast is NetApp, Inc. growing?
NetApp, Inc. (NTAP) grew revenue by 5.4% over the past year. This is steady growth.
Is NTAP profitable?
Yes, NetApp, Inc. (NTAP) is profitable, generating $1.28B in net income for fiscal year 2026 (18.4% net margin).
Dividend & Returns
Does NTAP pay dividends?
Yes, NetApp, Inc. (NTAP) pays a dividend with a yield of 1.25%. This makes it attractive for income-focused investors.
What is NTAP's return on equity?
NetApp, Inc. (NTAP) has a return on equity (ROE) of 106.7%. This is excellent, indicating efficient use of shareholder capital.
What is NetApp, Inc.'s free cash flow?
NetApp, Inc. (NTAP) generated $1.87B in free cash flow for fiscal year 2026. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.