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Nasdaq · Technology

NetApp, Inc. (NTAP)

As-reported financials and SEC filings for NetApp, Inc. The latest annual period is FY2026. The latest reported quarter is Q1 FY2027. Financial statements come straight from the company’s EDGAR filings; valuation figures such as P/E and market cap use market data.

About NetApp, Inc.

NetApp, Inc. provides data infrastructure solutions that help organizations manage, protect, and leverage data across on-premises, hybrid, and multi-cloud environments. Its main products include ONTAP data management software and a portfolio of all-flash, hybrid-flash, and cloud-native storage solutions. NetApp serves enterprises worldwide, supporting workloads such as AI, data protection, and cloud integration.

Snapshot

Revenue
$6.92B
Revenue growth (YoY)
5.4%
Net income
$1.28B
Diluted EPS
$6.35
Gross margin
70.7%
Operating margin
24.2%
Net margin
18.4%
FCF margin
27.0%
ROE
94.4%
net income / fiscal-year-end equity
P/E
30.4×
trailing when available, otherwise FY EPS
Market cap
$42.32B
Long-term debt / equity
1.84×
non-current term debt only

Fundamentals are from SEC filings for FY2026, the latest annual period (ended April 24, 2026). P/E and market cap are derived from stored market prices, last retrieved on a rolling basis and typically within the past week.

What changed at NetApp

  • Revenue grew 5.4% to $6.9B in FY2026, in line with the 4.9% the year before.
  • Operating margin is 24.2% in FY2026, +5.9 pp against 18.3% in FY2022.
  • Most recent quarter Q1 FY2027: revenue $2.0B, up 29.9% from Q1 FY2026.
  • Free cash flow was $1.9B in FY2026, 27.0% of revenue.
  • Net income rose 7.6% to $1.3B in FY2026.

Computed from the as-reported figures in the statements below. A change we cannot state from filed figures is left out rather than estimated.

Peer comparison

Where NetApp’s fundamentals sit among the 628 Technology companies. Each figure is ranked only against peers that report it, from lowest (left) to highest (right).

Gross margin70.7%
75th percentile of 512
Operating margin24.2%
88th percentile of 564
Net margin18.4%
83rd percentile of 577
FCF margin27.0%
85th percentile of 545
Revenue growth (YoY)+5.4%
39th percentile of 619
ROE94.4%
97th percentile of 547
P/E30.4×
54th percentile of 319
Long-term debt / equity1.84×
90th percentile of 281
Short interest4.40d
63rd percentile of 625

NetApp’s return on equity of 94.4% ranks in the 97th percentile of the 547 Technology companies reporting it. NetApp’s long-term debt to equity of 1.84 ranks in the 90th percentile of the 281 Technology companies reporting it. NetApp’s operating margin of 24.2% ranks in the 88th percentile of the 564 Technology companies reporting it.

No reported insider purchases (code P) in the last 90 days; 24 insider sales totaling $36.2M. For context, about 15% of companies in the universe saw any reported insider purchase (code P) in the same window. Browse insider activity →

Percentiles describe where a figure sits among sector peers reporting it (100th = highest). They are position within a peer group, not a rating, and not investment advice. Short interest ranking uses days to cover from FINRA Consolidated Short Interest data; FINRA is the owner and source of that data, included at no additional charge.

Institutional ownership

Held by 3 of the superinvestors we track (plus 6 quant / multi-strat books), based on each investor’s most recent 13F; periods vary by investor (newest: Q2 2026).

Conviction investors
3
+6 quant / multi-strat
Initiated / added
5
2 new, 3 added
Reduced / exited
4
4 trimmed, 0 exited
Combined position
$677.3M
reported long value
InvestorAs ofPosition valueSharesChange
AQR Capital ManagementquantQ2 2026$194.8M1.3MReduced
Two Sigma InvestmentsquantQ2 2026$177.0M1.1MAdded
Citadel AdvisorsquantQ2 2026$116.8M754.5KAdded
Gotham Asset ManagementQ2 2026$69.3M448.0KReduced
Millennium ManagementquantQ2 2026$48.9M316.1KReduced
D. E. ShawquantQ2 2026$47.9M309.6KAdded
Renaissance TechnologiesquantQ2 2026$19.0M122.8KNew
Bridgewater AssociatesQ2 2026$3.0M19.3KReduced
Maverick CapitalQ2 2026$677,0754.4KNew

From quarterly Form 13F filings, which can be up to 45 days delayed. Long US-listed positions only: excludes short positions, options, cash, bonds, and non-US holdings, so this is not a manager’s complete portfolio. Counts are of the investors we track, not all institutions. Not investment advice.

Recent insider activity

Non-derivative buys and sells (codes P/S) reported by officers, directors and 10% owners on SEC Form 4.

Buys (90d)
0
code P
Bought (90d)
—
code P value
Sells (90d)
24
$36.2M
Reported activity
Net selling
by $ value, 90d
Trade dateInsiderTypeSharesPriceValue
2026-10-12
filed 2026-10-14
Elizabeth M. O'CallahanEVP, Chief Admin. OfficerSell1.0K$237.42$237K
2026-10-02
filed 2026-10-06
Carrie PalinDirectorSell5.0K$216.43$1.1M
2026-10-01
filed 2026-10-05
Gerald HeldDirectorSell5.8K$212.00$1.2M
2026-10-01
filed 2026-10-05
George KurianCEOSell3.7K$209.01$771K
2026-10-01
filed 2026-10-05
George KurianCEOSell3.6K$210.20$759K
2026-10-01
filed 2026-10-05
George KurianCEOSell1.7K$210.98$358K
2026-10-01
filed 2026-10-05
George KurianCEOSell1.0K$211.67$212K
2026-09-29
filed 2026-10-01
George KurianCEOSell50.0K$209.95$10.5M
2026-09-24
filed 2026-09-28
George KurianCEOSell37.0K$199.95$7.4M
2026-09-21
filed 2026-09-23
George KurianCEOSell13.0K$200.01$2.6M
2026-09-21
filed 2026-09-23
Deepak AhujaDirectorSell3.5K$200.00$690K
2026-09-14
filed 2026-09-16
George KurianCEOSell12.8K$192.11$2.5M

Reported non-derivative purchases and sales (codes P/S), which may be open-market or private. Excludes option exercises, grants, and shares withheld for taxes. Dates shown are the trade date; a Form 4 can be filed days to years later. A sale can be routine (e.g. a pre-set 10b5-1 plan), so read individual transactions in context. From SEC Form 4. Not investment advice.

Short interest

Total shares sold short as of each twice-monthly FINRA settlement. Rising short interest means more investors are positioned against the stock; days to cover estimates how many trading days of average volume that position represents.

Shares short
10.7M
settled 2026-09-30
Change vs prior
+5.4%
vs previous settlement
Days to cover
4.40
at avg daily volume
Avg daily volume
2.4M
FINRA reported
SettlementShares shortChangeDays to cover
2026-09-3010.7M+5.4%4.40
2026-09-1510.1M-5.6%3.64
2026-08-3110.7M+0.4%5.10
2026-08-1410.7M-18.9%4.05
2026-07-3113.2M+2.5%6.33
2026-07-1512.9M-14.4%3.90
2026-06-3015.0M-12.4%4.72
2026-06-1517.2M-20.1%5.28

Source: FINRA Consolidated Short Interest. FINRA is the owner and source of the FINRA-supplied data, which is included at no additional charge for your own personal or professional use; republishing or redistributing it is not permitted. Settlement dates are shown; FINRA publishes each settlement about nine business days later, so the latest figure can be two to four weeks old. Not presented as a percentage of float. No FINRA endorsement of this product is implied. Not investment advice.

Income statement (as reported)

 FY2026FY2025FY2024FY2023FY2022
Revenue$6.92B$6.57B$6.27B$6.36B$6.32B
Gross profit
Operating income$1.67B$1.34B$1.21B$1.02B$1.16B
Pre-tax income$1.65B$1.38B$1.26B$1.07B$1.09B
Net income$1.28B$1.19B$986.0M$1.27B$937.0M
Diluted EPS$6.35$5.67$4.63$5.79$4.09

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures (free cash flow is operating cash flow minus capital expenditures, which can differ from a company’s own definition); “adj” means restated for a stock split (tap or hover a figure to see how it was calculated or what was filed). Diluted EPS includes discontinued operations where a company reports them. Cash & Equivalents excludes short-term investments and may include restricted cash where that is the figure the company tags. Full details: where the numbers come from.

Balance sheet (as reported)

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures (free cash flow is operating cash flow minus capital expenditures, which can differ from a company’s own definition); “adj” means restated for a stock split (tap or hover a figure to see how it was calculated or what was filed). Diluted EPS includes discontinued operations where a company reports them. Cash & Equivalents excludes short-term investments and may include restricted cash where that is the figure the company tags. Full details: where the numbers come from.

Cash flow (as reported)

 FY2026FY2025FY2024FY2023FY2022
Operating cash flow$2.07B$1.51B$1.69B$1.11B$1.21B
Capital expenditure$198.0M$168.0M$155.0M$239.0M$226.0M
Free cash flow

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures (free cash flow is operating cash flow minus capital expenditures, which can differ from a company’s own definition); “adj” means restated for a stock split (tap or hover a figure to see how it was calculated or what was filed). Diluted EPS includes discontinued operations where a company reports them. Cash & Equivalents excludes short-term investments and may include restricted cash where that is the figure the company tags. Full details: where the numbers come from.

Quarterly trend

QuarterRevenueRevenue YoYNet incomeDiluted EPS
Q1 FY2027$2.02B29.9%$375.0M$1.88
Q4 FY202618.1%
Q3 FY2026$1.71B4.4%$334.0M$1.67
Q2 FY2026$1.71B2.8%$305.0M$1.51
Q1 FY2026$1.56B1.2%$233.0M$1.15
Q4 FY20250.9%
Q3 FY2025$1.64B2.2%$299.0M$1.44
Q2 FY2025$1.66B6.1%$299.0M$1.42

Latest 8 quarters, from company XBRL filings on SEC EDGAR. A dotted underline marks a fourth-quarter figure we calculated from the full year and the first nine months. Revenue YoY is our calculation too: each quarter against the same quarter a year earlier.

Company facts

ExchangeNasdaq
SectorTechnology
SIC industryComputer Storage Devices
Latest annual periodFY2026 (ended April 24, 2026)
Latest reported quarterQ1 FY2027 (ended July 31, 2026)
Oldest indexed filing2016
SEC CIK1002047

Selected SEC filings

10-K2026-06-05
View on EDGAR →
10-K2025-06-09
View on EDGAR →
10-Q2026-09-02
View on EDGAR →
10-Q2026-02-26
View on EDGAR →
10-Q2025-11-25
View on EDGAR →
10-Q2025-08-27
View on EDGAR →
8-K2026-09-11
View on EDGAR →
8-K2026-09-02
View on EDGAR →

Largest Technology peers

All Technology companies →

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Data sourced from SEC EDGAR. Figures are as-reported and may be unaudited or restated; verify against the source filing before relying on them. Informational only. Not investment advice.