NetApp, Inc. (NTAP)

Name: NetApp, Inc. (NTAP): results, filings decoded, planned insider sales, 13F holders, insiders, Congress and short interest
Creator: GreekSoup
License: https://creativecommons.org/licenses/by/4.0/

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NetApp, Inc. (NTAP) reported revenue of $1.8 billion for Q1 FY2027, the quarter ended 31 July 2026, up 30.1% on the same quarter a year earlier. Net income was $375 million, up 60.9% on the year, and diluted earnings per share $1.88. The figures are the company's own, from the 10-Q it filed with the SEC on 2 September 2026.

Revenue$1.8 billionup 30.1%

Net income$375 millionup 60.9%

Diluted EPS$1.88

QuarterQ1 FY2027ended 31 July 2026

Ratios

From the filings

ROE94.8%

ROCE46.4%

Operating marginn/a

Net marginn/a

FCF marginn/a

Interest covern/a

Debt to equity1.66

Cash conversion1.34

Share count, 1 year-2.0%

Sales CAGR, 3 years-0.7%

Profit CAGR, 3 years0.1%

EPS, TTM$7.08

At the close of 21 September 2026

Price$198.15

Market cap$38.8 billion

Stock P/E27.99

Price to book25.98

EV / EBITDA19.57

Dividend yield1.0%

Market cap / salesn/a

52-week high$207.08

52-week low$94.11

Price, 1 year58.3%

Price CAGR, 3 years37.6%

Price CAGR, 5 years17.1%

Every figure is arithmetic on the filed lines (hover a name for the formula); the priced ones use the latest daily close, CBOE delayed quotes, daily history, by CBOE, for splits. Debt to equity here stands on long-term debt as NetApp, Inc. files it, with lease liabilities counted separately and never inside it. Nothing here is a valuation or a view.

Price, 17 September 2021 to 21 September 2026

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50-day average 200-day average Volume

Daily closes from CBOE delayed quotes, daily history, by CBOE, for splits; the last is 21 September 2026. P/E is the close over the trailing four quarters' EPS as filed at each filing date, on the current share count; the dashed line is the median over the range shown. Sales and margin are quarterly revenue and the operating margin from the tables above. EV/EBITDA, price to book and market cap to sales use the latest filed balance sheet and share count at each date. Drawn in your browser; the range and overlay you pick are remembered here only.

The public record on NTAP

Filings	17 in twelve months: 6 current reports (8-K), about 4 results of operations; 1 change to security holders' rights; 1 charter or bylaw amendment, or fiscal year change; 1 shareholder vote; 1 other events
Planned insider sales	26 Form 144 notices in twelve months, $24.0 million; latest 21 September 2026
Options tape	put/call 0.63 by open interest on 23 September 2026; the straddle prices a 9.6% move to 16 October 2026
Holders	9 of the followed funds hold it; largest Geode Capital Management; 4 Schedule 13D or 13G filings in twelve months
Insider trading	31 sales and 0 purchases on Form 4 in twelve months
Congress	0 House trades disclosed in six months
Short interest	10.7 million shares short, 5.10 days to cover at 31 August 2026
Documents	the 10-K, the 10-Qs, the proxy and 4 earnings press releases, each linked

Quarterly results, the last 12 quarters

	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026	Q3 FY2026	Q4 FY2026 *	Q1 FY2027
Revenue	1,562	1,606	1,668	1,541	1,658	1,641	1,732	1,398	1,705	1,713	n/a	1,819
Cost of revenue	452	455	492	443	481	496	539	461	478	504	583	606
Gross profit	1,110	1,151	1,176	1,098	1,177	1,145	1,193	1,098	1,227	1,209	1,365	1,419
Gross margin	71%	72%	71%	71%	71%	70%	69%	79%	72%	71%	n/a	78%
R&D	262	249	271	252	257	247	256	242	251	237	261	274
Operating income	304	366	366	282	345	362	348	309	399	434	532	484
Operating margin	19%	23%	22%	18%	21%	22%	20%	22%	23%	25%	n/a	27%
Interest expense	15.0	-17.0	16.0	-16.0	-15.0	-12.0	107	29.0	26.0	26.0	28.0	n/a
Pre-tax income	315	382	380	299	360	370	354	304	393	433	518	484
Tax rate	26%	18%	23%	17%	17%	19%	4%	23%	22%	23%	22%	23%
Net income	233	313	291	248	299	299	340	233	305	334	404	375
Net margin	15%	19%	17%	16%	18%	18%	20%	17%	18%	19%	n/a	21%
Diluted EPS	$1.10	$1.48	$1.36	$1.17	$1.42	$1.44	$1.64	$1.15	$1.51	$1.67	$2.02	$1.88
Operating cash flow	135	484	613	341	105	385	675	673	127	317	950	503
Capital expenditure	38.0	36.0	46.0	41.0	45.0	47.0	35.0	53.0	49.0	46.0	50.0	102
Free cash flow	97.0	448	567	300	60.0	338	640	620	78.0	271	900	401
Buybacks	300	100	100	400	300	200	250	300	250	200	200	200
Dividends paid	103	103	104	107	106	106	105	104	103	103	103	102
Shares outstanding	206m	206m	206m	205m	203m	203m	201m	200m	198m	198m	196m	196m
Filing	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Profit and loss, 12 fiscal years and the trailing twelve months

	FY2015 †	FY2016	FY2017 †	FY2018 †	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025	FY2026	TTM
Revenue	6,123	5,546	5,491	5,919	6,146	5,412	5,744	6,318	6,362	5,657	5,907	6,237	n/a
Cost of revenue	2,290	2,173	2,129	2,212	2,201	1,789	1,929	2,098	2,153	1,835	1,959	2,026	2,171
Gross profit	3,833	3,373	3,364	3,709	3,945	3,623	3,815	4,220	4,209	4,433	4,613	4,899	5,220
Gross margin	62.6%	60.8%	61.3%	62.7%	64.2%	66.9%	66.4%	66.8%	66.2%	78.4%	78.1%	78.5%	n/a
Research and development	919	861	779	783	827	847	881	881	956	1,029	1,012	991	1,023
Operating income	716	348	621	1,158	1,221	945	1,031	1,157	1,018	1,214	1,337	1,674	1,849
Operating margin	11.7%	6.3%	11.3%	19.6%	19.9%	17.5%	17.9%	18.3%	16.0%	21.5%	22.6%	26.8%	n/a
Interest expense	42.0	49.0	52.0	62.0	58.0	55.0	74.0	73.0	67.0	64.0	64.0	109	n/a
Pre-tax income	713	345	621	1,199	1,268	944	962	1,095	1,066	1,263	1,383	1,648	1,828
Income tax	153	116	140	1,083	99.0	125	232	158	-208	277	197	372	410
Effective tax rate	21.5%	33.6%	22.5%	90.3%	7.8%	13.2%	24.1%	14.4%	-19.5%	21.9%	14.2%	22.6%	22.4%
Net income	560	229	481	116	1,169	819	730	937	1,274	986	1,186	1,276	1,418
Net margin	9.1%	4.1%	8.8%	2.0%	19.0%	15.1%	12.7%	14.8%	20.0%	17.4%	20.1%	20.5%	n/a
Diluted EPS	$1.75	$0.77	$1.81	$0.28	$4.51	$3.52	$3.23	$4.09	$5.79	$4.63	$5.67	$6.35	$7.08
Filing	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K

Income statement lines from each year's 10-K, the year linked to its filing; TTM is the sum of the last four quarters. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are. † The year as the company last restated it in a later filing; rest on a figure for the one first filed. EPS is as filed.

Cash flow and capital returned

	FY2015 †	FY2016	FY2017 †	FY2018 †	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025	FY2026	TTM
Operating cash flow	n/a	974	986	1,478	1,341	1,060	1,333	1,211	1,107	1,685	1,506	2,067	1,897
Capital expenditure	175	160	175	145	173	124	162	226	239	155	168	198	247
Free cash flow	n/a	814	811	1,333	1,168	936	1,171	985	868	1,530	1,338	1,869	1,650
Free cash flow margin	n/a	14.7%	14.8%	22.5%	19.0%	17.3%	20.4%	15.6%	13.6%	27.0%	22.7%	30.0%	n/a
Depreciation and amortisation	243	212	178	145	150	154	207	148	181	198	196	179	182
Share-based compensation	259	260	195	161	158	153	197	245	312	357	386	382	397
Buybacks	1,165	960	705	794	2,111	1,411	125	600	850	900	1,150	950	850
Dividends paid	208	210	208	214	403	439	427	446	432	416	424	413	411
Dividend per share	$0.66	$0.72	$0.76	$0.80	$1.60	$1.92	$1.92	$2.00	$2.00	$2.00	$2.08	$2.08	n/a
Diluted shares, weighted	321m	297m	281m	276m	259m	233m	226m	229m	220m	213m	209m	201m	200m
Shares outstanding at period end	306m	281m	269m	263m	240m	219m	222m	220m	212m	206m	201m	196m	196m
Filing	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K

Buybacks and dividends are the cash paid in the year, from the cash flow statement; the dividend per share is as declared. Diluted shares are the weighted average for the year; a falling count is the buybacks net of issuance. TTM sums the last four quarters; the share counts are the latest quarter's.

Balance sheet at year end

	FY2015 †	FY2016	FY2017 †	FY2018 †	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025	FY2026	TTM
Total assets	9,401	10,037	9,493	9,991	8,741	7,522	9,360	10,026	9,818	9,887	10,823	10,744	10,955
Cash and equivalents	1,922	2,868	2,444	2,941	2,325	2,658	4,529	4,112	2,316	1,903	2,742	2,070	1,573
Receivables	779	813	731	1,047	1,216	973	945	1,230	987	1,007	1,246	1,286	966
Inventory	146	98.0	163	122	131	145	114	204	167	186	186	198	375
Goodwill	1,027	1,676	1,684	1,739	1,735	1,778	2,039	2,346	2,759	2,759	2,723	2,772	2,916
Long-term debt	1,488	1,490	1,493	1,541	1,544	1,146	2,632	2,636	2,389	2,392	3,235	2,487	2,488
Operating lease liabilities	n/a	n/a	n/a	n/a	0.0	93.0	71.0	257	248	220	216	204	n/a
Shareholders' equity	3,414	2,881	2,949	2,276	1,090	242	685	838	1,159	1,146	1,040	1,351	1,495
Filing	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K

At the fiscal year end; the TTM column is the latest quarter end. A line the company does not tag under the usual name is left out.

Compounded growth

	10 years	5 years	3 years	TTM
Sales growth, compounded	1.2%	1.7%	-0.7%	n/a
Profit growth, compounded	18.7%	11.8%	0.1%	21.1%
Return on equity, average	109.0%	103.3%	98.2%	94.4%

Compounded growth is the latest fiscal year over the year that many years earlier, annualised; the TTM column is the last four quarters over the four before. Return on equity is net income over shareholders' equity at each year end, averaged over the window (the TTM column is the latest year alone); equity is the parent's shareholders' equity as tagged in the 10-K. Arithmetic on filed numbers, nothing forecast.

Peers: Computer Storage Devices

Company	Market cap	P/E	ROE	Op. margin	Sales growth TTM	Debt to equity	Div. yield
Sandisk Corp. SNDK	$257.9 billion	23.95	72.7%	61.2%	175.3%	0.00	n/a
Seagate Technology Holdings plc STX	$199.0 billion	63.12	146.9%	33.6%	34.1%	1.66	0.3%
Western Digital Corp. WDC	$161.8 billion	18.46	106.3%	34.5%	-2.7%	0.12	0.1%
NetApp, Inc. NTAP	$38.8 billion	27.99	94.8%	n/a	n/a	1.66	1.0%
Everpure, Inc. P	$37.9 billion	155.70	16.4%	5.3%	27.2%	0.00	n/a

The names on this site in the same industry (the SEC's SIC description), by market capitalisation. Each figure is the same arithmetic as the ratio box above, on each company's own filings and latest close.

Filings

Filing	Period	Filed	Where
10-Q	31 July 2026	2 September 2026	EDGAR
10-K	24 April 2026	5 June 2026	EDGAR
10-Q	23 January 2026	26 February 2026	EDGAR
10-Q	24 October 2025	25 November 2025	EDGAR
10-Q	25 July 2025	27 August 2025	EDGAR
10-K	25 April 2025	9 June 2025	EDGAR
10-Q	24 January 2025	27 February 2025	EDGAR
10-Q	25 October 2024	25 November 2024	EDGAR
10-Q	26 July 2024	28 August 2024	EDGAR
10-K	26 April 2024	10 June 2024	EDGAR

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