NetApp (NTAP) FY2023 results: revenue $6.4 billion, up 0.7% on the year
NetApp, Inc. (NTAP) reported revenue of $6.4 billion for fiscal 2023, the year ended 28 April 2023, up 0.7% on the year before. Net income was $1.3 billion, up 36.0%, and diluted earnings per share $5.79. The figures are the company's own, from the 10-K it filed with the SEC on 14 June 2023.
Revenue
$6.4 billion
+0.7% on the year
FY2016FY2023
Operating margin
16.0%
18.3% a year earlier
FY2016FY2023
Net income
$1.3 billion
+36.0% on the year
FY2016FY2023
Diluted EPS
$5.79
+41.6% on the year
FY2016FY2023
this yearthe year beforeHover a bar for its figure.
$ 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
FY2023
FY2022
FY2021
On the year
Last 8 years
Operating cash flow
1,107
1,211
1,333
-8.6%
Capital expenditure
239
226
162
+5.8%
Free cash flow
868
985
1,171
-11.9%
Free cash flow margin
13.6%
15.6%
20.4%
Cash from investing
-1,390
-561
21.0
Cash from financing
-1,513
-1,017
444
Depreciation and amortisation
181
148
207
+22.3%
Share-based compensation
312
245
197
+27.3%
Buybacks
850
600
125
+41.7%
Dividends paid
432
446
427
-3.1%
Dividend per share
$2.00
$2.00
$1.92
0.0%
Diluted shares, weighted
220m
229m
226m
-3.9%
Shares outstanding at period end
212m
220m
222m
-3.6%
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
1,159
838
685
+38.3%
Debt
2,389
2,636
2,632
-9.4%
Operating lease liabilities
248
257
71.0
-3.5%
Other liabilities
6,022
6,295
5,972
-4.3%
Total liabilities and equity
9,818
10,026
9,360
-2.1%
Fixed assets
650
602
525
+8.0%
Goodwill
2,759
2,346
2,039
+17.6%
Intangible assets
181
142
101
+27.5%
Investments
754
22.0
67.0
+3,327.3%
Cash and equivalents
2,316
4,112
4,529
-43.7%
Receivables
987
1,230
945
-19.8%
Inventory
167
204
114
-18.1%
Other assets
2,004
1,368
1,040
+46.5%
Total assets
9,818
10,026
9,360
-2.1%
10-K for the year ended 28 April 2023, filed 14 June 2023: the filing.