NetApp (NTAP) FY2024 results: revenue $6.3 billion, down 1.5% on the year
NetApp, Inc. (NTAP) reported revenue of $6.3 billion for fiscal 2024, the year ended 26 April 2024, down 1.5% on the year before. Net income was $986 million, down 22.6%, and diluted earnings per share $4.63. The figures are the company's own, from the 10-K it filed with the SEC on 10 June 2024.
Revenue
$6.3 billion
-1.5% on the year
FY2017FY2024
Operating margin
19.4%
16.0% a year earlier
FY2017FY2024
Net income
$986 million
-22.6% on the year
FY2017FY2024
Diluted EPS
$4.63
-20.0% on the year
FY2017FY2024
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
FY2024
FY2023
FY2022
On the year
Last 8 years
Operating cash flow
1,685
1,107
1,211
+52.2%
Capital expenditure
155
239
226
-35.1%
Free cash flow
1,530
868
985
+76.3%
Free cash flow margin
24.4%
13.6%
15.6%
Cash from investing
-735
-1,390
-561
Cash from financing
-1,344
-1,513
-1,017
Depreciation and amortisation
198
181
148
+9.4%
Share-based compensation
357
312
245
+14.4%
Buybacks
900
850
600
+5.9%
Dividends paid
416
432
446
-3.7%
Dividend per share
$2.00
$2.00
$2.00
0.0%
Diluted shares, weighted
213m
220m
229m
-3.2%
Shares outstanding at period end
206m
212m
220m
-2.8%
Balance sheet
$ million
FY2024
FY2023
FY2022
On the year
Last 8 years
Shareholders' equity
1,146
1,159
838
-1.1%
Debt
2,392
2,389
2,636
+0.1%
Operating lease liabilities
220
248
257
-11.3%
Other liabilities
6,129
6,022
6,295
+1.8%
Total liabilities and equity
9,887
9,818
10,026
+0.7%
Fixed assets
604
650
602
-7.1%
Goodwill
2,759
2,759
2,346
0.0%
Intangible assets
124
181
142
-31.5%
Investments
1,349
754
22.0
+78.9%
Cash and equivalents
1,903
2,316
4,112
-17.8%
Receivables
1,007
987
1,230
+2.0%
Inventory
186
167
204
+11.4%
Other assets
1,955
2,004
1,368
-2.4%
Total assets
9,887
9,818
10,026
+0.7%
10-K for the year ended 26 April 2024, filed 10 June 2024: the filing.