NetApp NTAP

Data storage. NetApp, Inc., listed on NASDAQ.

Based on the FY2026 annual report (Apr 2025 – Apr 2026)

NetApp's market cap is
about $33.20 billion.

#286 by market cap among 289 companies, based on the Nov 5, 2026 close. FY2026 revenue was $6.925B.

Share price (close): $169.38; Close on Nov 5, 2026 · per share
P/E ratio: 26.7x; Closing price ÷ latest annual EPS
Market cap: $33.20B; #286 of 289
Revenue: $6.925B; #249 of 299 · +5.4% YoY
Operating income: $1.674B; #177 of 231 · +25.2% YoY
Net income: $1.276B; #233 of 298 · +7.6% YoY
Free cash flow: $1.869B; #173 of 261 · +39.7% YoY
Total assets: $10.744B; #265 of 299 · −0.7% YoY
Dividends paid: $413M; #184 of 214 · −2.6% YoY
Dividend per share: $2.08; #130 of 205 · +0.0% YoY
Dividend yield: 1.2%; #124 of 203
Shares outstanding: 196,000,000 shares; As of Apr 24, 2026

Size, put in perspective

Revenue every second$220$19M a day

Net income every second$40$3.5M a day

Buying Ciena with a year's profit3.9% of itBased on Ciena's market cap of about $32.75 billion

Market cap vs Ciena1.0×NetApp ÷ Ciena

Calculated from the FY2026 annual report, spread evenly over 365 days.

Where the revenue went

Revenue is set at 100% and split into what went to costs, R&D, operating expenses and taxes, and what was left as profit.

Cost of revenue29.3%
R&D14.3%
SG&A and other32.3%
Taxes, interest & other5.7%
Net income18.4%

Profitability and stability

Each figure comes with its rank among 300 companies. The further right the dot, the higher the rank.

Revenue growthHow much revenue grew from the previous fiscal year: +5.4%; #195 of 299; Revenue is growing steadily. The median across 299 companies is +7.9%.
Operating marginShare of revenue kept as profit from the core business: 24.2%; #86 of 231; 24.2% of revenue was kept as operating profit. The median across 231 companies is 19.2%.
Net marginShare of revenue left as profit after interest and taxes: 18.4%; #109 of 298; After taxes, 18.4% of revenue was left as net income. The median across 298 companies is 14.0%.
FCF marginShare of revenue left as cash after capital spending: 27.0%; #54 of 261; Plenty of cash is left after capital spending. The median across 261 companies is 15.8%.
ROEHow much profit the company earned on shareholders' equity in a year: 106.7%; #11 of 276; Equity is small, so ROE comes out very high. The median across 276 companies is 16.8%.
Debt-to-equityLiabilities relative to equity. Lower means less debt: 695.3%; #224 of 244; Liabilities are more than twice equity. The median across 244 companies is 159.6%.

Revenue and profit over time

Gray bars show revenue and the green part inside shows net income. The number above each bar is revenue (abbreviated) and the number below is net margin. Hover over a bar to see the exact amounts.

Currency: US dollars. Years are the years in which each fiscal year ended.

Where the cash went

Unlike profit, cash flow is money that actually came in and went out.

Cash from operations$2.067B
Capital spending−$198M
Free cash flow (FCF)$1.869B
Dividends paid−$413M

Whose money funds the assets

The company's assets, split into borrowed money (liabilities) and shareholders' money (equity).

Liabilities 87%Equity 13%

Total assets$10.744B
Total liabilities$9.393B
Total equity$1.351B
Cash and equivalents$2.07B

Compared with similar companies

Based on each company's latest annual report, so fiscal year ends may differ.

Compare in detail

Company	Annual revenue	Net income	Revenue growth	Operating margin	Net margin
NetAppNTAP	$6.925B	$1.276B	+5.4%	24.2%	18.4%
CienaCIEN	$4.769507B	$123.338M	+18.8%	4.1%	2.6%
CoherentCOHR	$7.118181B	$804.998M	+22.5%	—	11.3%
Keysight TechnologiesKEYS	$5.375B	$850M	+8.0%	16.3%	15.8%
LumentumLITE	$3.014B	−$6.9351B	+83.2%	17.4%	−230.1%

What the company does

NetApp sells enterprise data storage systems and cloud data management software.

The fiscal year ends around April each year.

Related companies: Ciena, Coherent, Keysight Technologies, Lumentum

Financial statements

Last 5 fiscal years. Currency: US dollars.

Show the table

Item	FY2022	FY2023	FY2024	FY2025	FY2026
Revenue	6.318B	6.362B	6.268B	6.572B	6.925B
Cost of revenue	2.098B	2.153B	1.835B	1.959B	2.026B
Gross profit	4.22B	4.209B	4.433B	4.613B	4.899B
R&D expense	881M	956M	1.029B	1.012B	991M
Operating income	1.157B	1.018B	1.214B	1.337B	1.674B
Pretax income	1.095B	1.066B	1.263B	1.383B	1.648B
Net income	937M	1.274B	986M	1.186B	1.276B
EPS (diluted)	$4.09	$5.79	$4.63	$5.67	$6.35
Operating cash flow	1.211B	1.107B	1.685B	1.506B	2.067B
Capital expenditures	226M	239M	155M	168M	198M
Free cash flow (FCF)	985M	868M	1.53B	1.338B	1.869B
Dividends paid	446M	432M	416M	424M	413M
Total assets	10.026B	9.818B	9.887B	10.823B	10.744B
Total liabilities	9.188B	8.659B	8.741B	9.783B	9.393B
Total equity	838M	1.159B	1.146B	1.04B	1.351B
Cash and equivalents	4.119B	2.322B	1.909B	2.742B	2.07B
Original filing	10-K	10-K	10-K	10-K	10-K

Source: SEC EDGAR filings for NetApp, Inc. · CIK 0001002047 · US-GAAP