Financials · NTAP

NetApp Inc. (NTAP) financials

For the twelve months ended Jul 31, 2026, NetApp Inc. reported $7.39B of revenue and $1.42B of net income.

Revenue, TTM
$7.39B
Revenue growth, YoY
+12.2%
Net income, TTM
$1.42B
Net income growth, YoY
+21.1%
Net margin
19.2%
Free cash flow, TTM
$1.65B
EPS, diluted, TTM
$7.08
EPS growth, YoY
+25.3%
Cash
$1.57B
Total debt
$2.49B
P/E
23.44
P/S
4.50
Market cap
$33.23B
Annual revenue$6.92B
FY2017FY2026
Annual net income$1.28B
FY2017FY2026
Annual free cash flow$1.87B
FY2017FY2026

NTAP revenue and earnings growth

NTAP revenueQ1 2027$2.02B

Quarter YoY
+29.9%
QoQ
+4.0%
FY YoY
+5.4%
5Y CAGR
+3.8%
10Y CAGR
+2.2%

NTAP revenue was $2.02B in fiscal Q1 2027 (ended Jul 31, 2026), up 29.9% from a year earlier and up 4.0% from the prior quarter. For the full fiscal 2026 it was $6.92B, up 5.4% from fiscal 2025. Compound annual growth was +3.8% over 5 years and +2.2% over 10 years. It rose in 7 of the last 10 fiscal years. Fiscal 2026 is the highest of the 15 fiscal years on file.

NTAP net incomeQ1 2027$375.00M

Quarter YoY
+60.9%
QoQ
-7.2%
FY YoY
+7.6%
5Y CAGR
+11.8%
10Y CAGR
+18.7%

NTAP net income was $375.00M in fiscal Q1 2027 (ended Jul 31, 2026), up 60.9% from a year earlier and down 7.2% from the prior quarter. For the full fiscal 2026 it was $1.28B, up 7.6% from fiscal 2025. Compound annual growth was +11.8% over 5 years and +18.7% over 10 years. It rose in 6 of the last 10 fiscal years. Fiscal 2026 is the highest of the 15 fiscal years on file.

NTAP EPSQ1 2027$1.88

Quarter YoY
+63.5%
QoQ
-6.9%
FY YoY
+12.0%
5Y CAGR
+14.5%
10Y CAGR
+23.5%

NTAP diluted EPS was $1.88 in fiscal Q1 2027 (ended Jul 31, 2026), up 63.5% from a year earlier and down 6.9% from the prior quarter. For the full fiscal 2026 it was $6.35, up 12.0% from fiscal 2025. Compound annual growth was +14.5% over 5 years and +23.5% over 10 years.

NTAP free cash flowQ1 2027$401.00M

Quarter YoY
-35.3%
QoQ
-55.4%
FY YoY
+39.7%
5Y CAGR
+9.8%
10Y CAGR
+8.7%

NTAP free cash flow was $401.00M in fiscal Q1 2027 (ended Jul 31, 2026), down 35.3% from a year earlier and down 55.4% from the prior quarter. For the full fiscal 2026 it was $1.87B, up 39.7% from fiscal 2025. Compound annual growth was +9.8% over 5 years and +8.7% over 10 years. It rose in 4 of the last 10 fiscal years. Fiscal 2026 is the highest of the 15 fiscal years on file.

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Income statement

Income statement
Line item
Apr 24, 2026
Apr 25, 2025
Apr 26, 2024
Apr 28, 2023
Apr 29, 2022
Apr 30, 2021
Apr 24, 2020
Apr 26, 2019
Apr 27, 2018
Apr 28, 2017
Revenue$6.92B$6.57B$6.27B$6.36B$6.32B$5.74B$5.41B$6.15B$5.92B$5.49B
Cost of revenue$2.03B$1.96B$1.83B$2.15B$2.10B$1.93B$1.79B$2.20B$2.21B$2.13B
Gross profit$4.90B$4.61B$4.43B$4.21B$4.22B$3.81B$3.62B$3.94B$3.71B$3.36B
Research and development$991.00M$1.01B$1.03B$956.00M$881.00M$881.00M$847.00M$827.00M$783.00M$779.00M
Selling, general and admin$344.00M$311.00M$308.00M$265.00M$279.00M$257.00M$263.00M$278.00M$280.00M$271.00M
Operating income$1.67B$1.34B$1.21B$1.02B$1.16B$1.03B$945.00M$1.22B$1.16B$621.00M
Interest expense$109.00M$64.00M$64.00M$67.00M$73.00M$74.00M$55.00M$58.00M$62.00M$52.00M
Pre-tax income$1.65B$1.38B$1.26B$1.07B$1.09B$962.00M$944.00M$1.27B$1.20B$621.00M
Income tax$372.00M$197.00M$277.00M-$208.00M$158.00M$232.00M$125.00M$99.00M$1.08B$140.00M
Net income$1.28B$1.19B$986.00M$1.27B$937.00M$730.00M$819.00M$1.17B$116.00M$481.00M
EPS, basic$6.41$5.81$4.74$5.87$4.20$3.29$3.56$4.60$0.43$1.75
EPS, diluted$6.35$5.67$4.63$5.79$4.09$3.23$3.52$4.51$0.42$1.71
Diluted shares201.0M209.0M213.0M220.0M229.0M226.0M233.0M259.0M276.0M281.0M

Balance sheet

Balance sheet
Line item
Apr 24, 2026
Apr 25, 2025
Apr 26, 2024
Apr 28, 2023
Apr 29, 2022
Apr 30, 2021
Apr 24, 2020
Apr 26, 2019
Apr 27, 2018
Apr 28, 2017
Cash and equivalents$2.07B$2.75B$1.91B$2.32B$4.12B$4.54B$2.67B$2.33B$2.95B$2.45B
Short-term investments$1.51B$1.10B$1.35B$754.00M$22.00M$67.00M$224.00M$1.57B$2.45B$2.48B
Receivables$1.29B$1.25B$1.01B$987.00M$1.23B$945.00M$973.00M$1.22B$1.05B$731.00M
Inventory$198.00M$186.00M$186.00M$167.00M$204.00M$114.00M$145.00M$131.00M$122.00M$163.00M
Current assets$5.78B$5.85B$4.90B$4.68B$5.95B$6.00B$4.27B$5.61B$6.95B$6.20B
Goodwill$2.77B$2.72B$2.76B$2.76B$2.35B$2.04B$1.78B$1.74B$1.74B$1.68B
Total assets$10.74B$10.82B$9.89B$9.82B$10.03B$9.36B$7.52B$8.74B$9.99B$9.49B
Current liabilities$4.02B$4.66B$4.11B$3.47B$3.95B$3.45B$3.62B$3.87B$3.53B$4.12B
Short-term debt$0$750.00M$400.00M$0$250.00M$0$0$400.00M$0$749.00M
Long-term debt$2.49B$2.48B$1.99B$2.39B$2.39B$2.63B$1.15B$1.14B$1.54B$744.00M
Total debt$2.49B$3.23B$2.39B$2.39B$2.64B$2.63B$1.15B$1.54B$1.54B$1.49B
Total liabilities$9.39B$9.78B$8.74B$8.66B$9.19B$8.68B$7.28B$7.65B$7.71B$6.71B
Shareholders' equity$1.35B$1.04B$1.15B$1.16B$838.00M$685.00M$242.00M$1.09B$2.28B$2.95B

Cash flow

Cash flow
Line item
Apr 24, 2026
Apr 25, 2025
Apr 26, 2024
Apr 28, 2023
Apr 29, 2022
Apr 30, 2021
Apr 24, 2020
Apr 26, 2019
Apr 27, 2018
Apr 28, 2017
Operating cash flow$2.07B$1.51B$1.69B$1.11B$1.21B$1.33B$1.06B$1.34B$1.48B$986.00M
Capital expenditures$198.00M$168.00M$155.00M$239.00M$226.00M$162.00M$124.00M$173.00M$145.00M$175.00M
Free cash flow$1.87B$1.34B$1.53B$868.00M$985.00M$1.17B$936.00M$1.17B$1.33B$811.00M
Investing cash flow-$595.00M$147.00M-$735.00M-$1.39B-$561.00M$21.00M$1.27B$704.00M-$21.00M-$223.00M
Financing cash flow-$2.15B-$828.00M-$1.34B-$1.51B-$1.02B$444.00M-$1.96B-$2.63B-$986.00M-$1.18B
Dividends paid$413.00M$424.00M$416.00M$432.00M$446.00M$427.00M$439.00M$403.00M$214.00M$208.00M
Share repurchases$950.00M$1.15B$900.00M$850.00M$600.00M$125.00M$1.41B$2.11B$794.00M$705.00M
Stock-based compensation$382.00M$386.00M$357.00M$312.00M$245.00M$197.00M$153.00M$158.00M$161.00M$195.00M
Depreciation and amortization$179.00M$196.00M$198.00M$181.00M$148.00M$158.00M$154.00M$150.00M$145.00M$178.00M

Key ratios

Key ratios
Line item
Apr 24, 2026
Apr 25, 2025
Apr 26, 2024
Apr 28, 2023
Apr 29, 2022
Apr 30, 2021
Apr 24, 2020
Apr 26, 2019
Apr 27, 2018
Apr 28, 2017
Revenue growth, YoY5.4%4.9%-1.5%0.7%10.0%6.1%-11.9%3.8%7.8%-1.0%
Net income growth, YoY7.6%20.3%-22.6%36.0%28.4%-10.9%-29.9%907.8%-75.9%110.0%
EPS growth, YoY12.0%22.5%-20.0%41.6%26.6%-8.2%-22.0%973.8%-75.4%122.1%
Gross margin70.7%70.2%70.7%66.2%66.8%66.4%66.9%64.2%62.7%61.3%
Operating margin24.2%20.3%19.4%16.0%18.3%17.9%17.5%19.9%19.6%11.3%
Net margin18.4%18.0%15.7%20.0%14.8%12.7%15.1%19.0%2.0%8.8%
Free cash flow margin27.0%20.4%24.4%13.6%15.6%20.4%17.3%19.0%22.5%14.8%
Return on equity94.4%114.0%86.0%109.9%111.8%106.6%338.4%107.2%5.1%16.3%
Return on assets11.9%11.0%10.0%13.0%9.3%7.8%10.9%13.4%1.2%5.1%
Current ratio1.441.261.191.351.501.741.181.451.971.50
Debt to equity1.843.112.092.063.153.844.741.420.680.51

Source: XBRL data NetApp Inc. files with the SEC, latest filing dated Sep 2, 2026 (see filings on SEC EDGAR). Provided for information only, not investment advice. Check the filing before relying on a number.

* Worked out from the filings rather than stated in them: Q4 is the full year less the first nine months.

Per-share figures are as filed. The filings show no stock split in these periods.

EPS growth is left out where the share count moved enough to suggest a split the filings do not show. Growth rates need a positive starting figure. CAGR is compound annual growth between fiscal years. The CSV holds every period on file, in full figures, from the same SEC filings.

NTAP peers

CompanyRevenueGrowthNet incomeNet marginMarket cap
NTAP$7.39B+12.2%$1.42B19.2%$33.23B
HPE$41.87B+26.6%$2.79B6.7%$59.43B
NTNX$2.85B+12.4%$1.51B52.8%$15.92B
CVLT$1.25B+14.3%$82.68M6.6%$6.48B

NTAP FAQ

9 questions
  • What is NTAP revenue?
    NetApp Inc. (NTAP) reported $7.39B of revenue for the twelve months ended Jul 31, 2026. That is up 12.2% from the year before. Revenue for fiscal 2026 was $6.92B.
  • Is NTAP profitable?
    Yes. NetApp Inc. earned $1.42B in net income for the twelve months ended Jul 31, 2026, a net margin of 19.2%.
  • How much cash and debt does NTAP have?
    NetApp Inc. reported $1.57B in cash and cash equivalents and $2.49B of debt on its most recent balance sheet in SEC filings.
  • How fast is NTAP revenue growing?
    NetApp Inc.'s revenue changed +5.4% in fiscal 2026, to $6.92B. Its compound annual growth rate was +3.8% over 5 years and +2.2% over 10 years.
  • What is NTAP gross margin?
    NetApp Inc.'s gross profit was $5.22B on $7.39B of revenue for the twelve months ended Jul 31, 2026, a gross margin of 70.6%.
  • What is NTAP free cash flow?
    NetApp Inc. generated $1.65B of free cash flow for the twelve months ended Jul 31, 2026, which is operating cash flow of $1.90B less capital expenditures.
  • What is NTAP earnings per share?
    Diluted earnings per share were $7.08 for the twelve months ended Jul 31, 2026, from SEC filings, restated for any stock split those filings show.
  • When did NTAP last report financial results?
    The latest statements here come from NetApp Inc.'s 10-Q filed on Sep 2, 2026, covering the period ended Jul 31, 2026.
  • Where does this NTAP financial data come from?
    Quantisnow builds these statements from the structured XBRL data NetApp Inc. files with the SEC. It is provided for information only and is not investment advice.