NetApp (NTAP) FY2019 results: revenue $6.1 billion, up 4.0% on the year
NetApp, Inc. (NTAP) reported revenue of $6.1 billion for fiscal 2019, the year ended 26 April 2019, up 4.0% on the year before. Net income was $1.2 billion, up 907.8%, and diluted earnings per share $4.51. The figures are the company's own, from the 10-K it filed with the SEC on 18 June 2019.
Revenue
$6.1 billion
+4.0% on the year
FY2012FY2019
Operating margin
19.9%
19.6% a year earlier
FY2012FY2019
Net income
$1.2 billion
+907.8% on the year
FY2012FY2019
Diluted EPS
$4.51
+973.8% on the year
FY2012FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
6,146
5,911
5,491
+4.0%
Cost of revenue
2,201
2,212
2,129
-0.5%
Gross profit
3,945
3,709
3,364
+6.4%
Gross margin
64.2%
62.7%
61.3%
Research and development
827
783
779
+5.6%
Operating income
1,221
1,158
621
+5.4%
Operating margin
19.9%
19.6%
11.3%
Interest expense
58.0
62.0
52.0
-6.5%
Pre-tax income
1,268
1,199
621
+5.8%
Income tax
99.0
1,083
140
-90.9%
Effective tax rate
7.8%
90.3%
22.5%
Net income
1,169
116
481
+907.8%
Net margin
19.0%
2.0%
8.8%
Diluted EPS
$4.51
$0.42
$1.71
+973.8%
$ 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
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
1,341
1,478
986
-9.3%
Capital expenditure
173
145
175
+19.3%
Free cash flow
1,168
1,333
811
-12.4%
Free cash flow margin
19.0%
22.6%
14.8%
Cash from investing
704
-21.0
-223
Cash from financing
-2,631
-986
-1,179
Depreciation and amortisation
150
145
178
+3.4%
Share-based compensation
158
161
195
-1.9%
Buybacks
2,111
794
705
+165.9%
Dividends paid
403
214
208
+88.3%
Dividend per share
$1.60
$0.80
$0.76
+100.0%
Diluted shares, weighted
259m
276m
281m
-6.2%
Shares outstanding at period end
240m
263m
269m
-8.7%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
1,090
2,276
2,949
-52.1%
Debt
1,793
1,926
1,993
-6.9%
Operating lease liabilities
0.0
n/a
n/a
Other liabilities
5,858
5,789
4,551
+1.2%
Total liabilities and equity
8,741
9,991
9,493
-12.5%
Fixed assets
759
756
799
+0.4%
Goodwill
1,735
1,739
1,684
-0.2%
Intangible assets
47.0
94.0
131
-50.0%
Investments
1,574
2,450
2,477
-35.8%
Cash and equivalents
2,325
2,941
2,444
-20.9%
Receivables
1,216
1,047
731
+16.1%
Inventory
131
122
163
+7.4%
Other assets
954
842
1,064
+13.3%
Total assets
8,741
9,991
9,493
-12.5%
10-K for the year ended 26 April 2019, filed 18 June 2019: the filing.