NetApp (NTAP) FY2017 results: revenue $5.5 billion, down 1.0% on the year
NetApp, Inc. (NTAP) reported revenue of $5.5 billion for fiscal 2017, the year ended 28 April 2017, down 1.0% on the year before. Net income was $481 million, up 110.0%, and diluted earnings per share $1.71. The figures are the company's own, from the 10-K it filed with the SEC on 20 June 2017.
Revenue
$5.5 billion
-1.0% on the year
FY2010FY2017
Operating margin
11.3%
6.3% a year earlier
FY2010FY2017
Net income
$481 million
+110.0% on the year
FY2010FY2017
Diluted EPS
$1.71
+122.1% on the year
FY2010FY2017
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Revenue
5,491
5,546
6,123
-1.0%
Cost of revenue
2,129
2,173
2,290
-2.0%
Gross profit
3,364
3,373
3,833
-0.3%
Gross margin
61.3%
60.8%
62.6%
Research and development
779
861
919
-9.5%
Operating income
621
348
716
+78.4%
Operating margin
11.3%
6.3%
11.7%
Interest expense
52.0
49.0
42.0
+6.1%
Pre-tax income
621
345
713
+80.0%
Income tax
140
116
153
+20.7%
Effective tax rate
22.5%
33.6%
21.5%
Net income
481
229
560
+110.0%
Net margin
8.8%
4.1%
9.1%
Diluted EPS
$1.71
$0.77
$1.75
+122.1%
$ million except per share. Read moreFree 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.
Cash flow
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Operating cash flow
986
974
1,268
+1.2%
Capital expenditure
175
160
175
+9.4%
Free cash flow
811
814
1,093
-0.4%
Free cash flow margin
14.8%
14.7%
17.8%
Cash from investing
-223
85.0
n/a
Cash from financing
-1,179
-109
n/a
Depreciation and amortisation
178
212
243
-16.0%
Share-based compensation
195
260
259
-25.0%
Buybacks
705
960
1,165
-26.6%
Dividends paid
208
210
208
-1.0%
Dividend per share
$0.76
$0.72
$0.66
+5.6%
Diluted shares, weighted
281m
297m
321m
-5.4%
Shares outstanding at period end
269m
281m
306m
-4.3%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
2,949
2,881
3,414
+2.4%
Short-term borrowings
n/a
n/a
0.0
Debt
1,993
2,339
1,488
-14.8%
Other liabilities
4,551
4,817
4,500
-5.5%
Total liabilities and equity
9,493
10,037
9,401
-5.4%
Fixed assets
799
937
1,030
-14.7%
Goodwill
1,684
1,676
1,027
+0.5%
Intangible assets
131
180
90.0
-27.2%
Investments
2,477
2,435
3,405
+1.7%
Cash and equivalents
2,444
2,868
1,922
-14.8%
Receivables
731
813
779
-10.1%
Inventory
163
98.0
146
+66.3%
Other assets
1,064
1,030
1,003
+3.3%
Total assets
9,493
10,037
9,401
-5.4%
10-K for the year ended 28 April 2017, filed 20 June 2017: the filing.