NetApp, Inc. logo NTAP - NetApp, Inc.

Price: -- -- | CONSENSUS: Hold DETAILS
STRONG
BUY
0
BUY 26
HOLD 36
SELL 9
STRONG
SELL
0
| PRICE TARGET: $112.33 DETAILS
HIGH: $128.00
LOW: $89.00
MEDIAN: $120.00
CONSENSUS: $112.33
DOWNSIDE: 19.40%
Metric 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 2002 2001 2000 1999 1998 1997 1996
Revenue
Revenue 6,572 6,268 6,362 6,318 5,744 5,412 6,146 5,911 5,519 5,546 6,122.7 6,325.1 6,332.4 6,233.2 5,122.6 3,931.4 3,406.4 3,303.2 2,804.3 2,066.5 1,598.1 1,170.3 892.1 798.4 1,006.2 579.3 289.4 166.2 93.3 46.6
Cost of Revenue 1,959 1,835 2,153 2,098 1,929 1,789 2,201 2,212 2,129 2,173 2,289.5 2,406 2,571.3 2,519.8 1,793.9 1,412.2 1,416.5 1,289.8 1,099.8 810.0 623.1 465.8 345.6 317.8 401.7 235.8 118.1 67.5 38.1 20.6
Gross Profit 4,613 4,433 4,209 4,220 3,815 3,623 3,945 3,699 3,390 3,373 3,833.2 3,919.1 3,761.1 3,713.4 3,328.7 2,519.2 1,989.9 2,013.4 1,704.5 1,256.5 975.0 704.5 546.4 480.5 604.5 343.5 171.3 98.6 55.3 26.1
Operating Expenses
R&D Expenses 1,012 1,029 956 881 881 847 827 783 779 861 919.3 917.3 904.2 828.2 648.6 535.7 498.5 452.2 385.4 243.0 171.0 131.9 112.9 116.7 120.9 62.1 30.5 16.6 9.0 4.8
SG&A Expenses 2,176 2,136 2,094 2,136 2,001 1,848 1,935 2,009 1,904 2,099 2,197.4 2,179.2 2,247.4 2,128.9 1,848.3 1,532.5 1,389.8 1,247.1 1,043.3 700.3 551.1 407.9 344.7 331.7 335.5 176.0 85.7 49.3 28.4 15.3
Other Expenses 88 54 141 46 (98) (17) (38) 0 8 (3) (3.7) 7.6 8.3 2.4 5.8 0 0 0 (25.3) 0 0 0.0 0 20.9 11.7 0 0 0 4.3 0
Operating Expenses 3,276 3,219 3,191 3,063 2,784 2,678 2,724 2,792 2,683 2,960 3,116.7 3,096.5 3,151.6 2,957.1 2,496.9 2,068.2 1,888.3 1,699.3 1,403.3 943.3 722.1 539.8 457.6 469.4 468.1 238.1 116.2 66.0 41.7 20.1
Operating Income
Operating Income 1,337 1,214 1,018 1,157 1,031 945 1,221 1,125 665 348 716.5 734.3 607.8 746.5 824.3 488.4 47.2 313.6 301.2 308.3 253.2 158.5 87.6 (1.1) 109.7 105.4 55.1 32.7 3.1 6
Interest Expense 64 64 67 73 74 55 58 62 52 49 42 36 91.7 74.7 75.9 74.1 26.9 0 0 0 0 0 0 0 0 0 0 0 0 0
Interest Income 112 112 69 7 9 48 88 79 44 46 37 35 42.2 38.2 39.9 31.2 57.6 0 0 0 24.2 13.7 12.2 0 0 0 0 0 0 0
Profitability
EBITDA 1,690 1,582 1,434 1,364 1,295 1,243 1,523 1,459 943 662 1,023.7 1,110.9 1,002.9 1,080.2 1,035.6 687.1 242.2 534.9 482.2 395.0 341.9 224.2 146.3 76.5 178.6 119.7 62.6 38.2 16.5 7.4
EBIT 1,447 1,327 1,133 1,168 1,036 999 1,326 1,261 673 394 716 776.8 658.3 787.1 870 521.1 71.7 314.0 301.2 313.2 252.9 164.7 88.9 11.2 136.3 105.4 55.1 32.7 13.6 6
Income Before Tax 1,383 1,263 1,066 1,095 962 944 1,268 1,166 665 345 712.8 740.7 566.6 712.4 794.1 447 44.8 382.7 359.7 350.3 276.2 170.5 97.8 2.5 133.0 114.4 57.0 33.5 4.0 6.7
Income Tax Expense 197 277 (208) 158 232 125 99 1,090 156 116 152.9 103.2 61.3 107 121 46.6 (41.7) 73.0 62.0 83.8 50.5 18.4 21.3 (0.5) 58.1 40.6 21.4 12.6 3.8 (0.6)
Net Income 1,186 986 1,274 937 730 819 1,169 76 509 229 559.9 637.5 505.3 605.4 673.1 400.4 86.5 309.7 297.7 266.5 225.8 152.1 76.5 3.0 74.9 73.8 35.6 21.0 0.2 6.6
Per Share Data
EPS (Basic) 5.81 4.74 5.87 4.20 3.29 3.56 4.60 0.28 1.85 0.78 1.77 1.87 1.40 1.66 1.87 1.18 0.20 0.88 0.80 0.72 0.63 0.44 0.23 0.01 0.23 0.25 0.13 0.08 0.00 0.05
EPS (Diluted) 5.67 4.63 5.79 4.09 3.23 3.52 4.51 0.28 1.81 0.77 1.75 1.83 1.37 1.58 1.71 1.13 0.19 0.86 0.77 0.69 0.59 0.42 0.22 0.01 0.21 0.21 0.11 0.07 0.00 0.03
Shares Outstanding 204 208 217 223 222 230 254 268 275 294 315.5 340.3 361.5 363.9 360.9 339.6 330.3 351.7 371.2 371.1 358.3 345.7 337.6 331.6 320.4 299.4 273.7 259.7 243.9 144.0
Metric 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2009 2008 2004 2003 2002 2001 2000 1999 1998 1997 1996
Current Assets
Cash & Cash Equivalents 2,742 1,903 2,316 4,112 4,529 2,658 2,325 2,941 2,444 2,868 1,494.2 936.5 241.1 284.2 210.8 271.9 279.0 221.3 37.3 21.5 24.6
Short-Term Investments 1,104 1,349 754 22 67 224 1,574 2,450 2,477 2,435 1,110.1 227.9 566.8 334.7 243.4 92.1 74.5 5.8 10.8 6.9 3.0
Net Receivables 1,246 1,007 987 1,230 945 973 1,216 1,047 731 813 446.5 582.1 193.9 151.6 146.5 187.0 108.9 57.2 34.3 13.9 5.3
Inventory 186 186 167 204 114 145 131 126 163 98 61.1 70.2 34.1 31.6 23.8 22.5 20.4 13.6 8.7 9.9 4.8
Other Current Assets 573 452 456 377 346 274 364 392 383 0 207.1 130.2 24.2 27.4 32.5 36.3 22.2 10.1 5.3 3.1 2.1
Total Current Assets 5,851 4,897 4,680 5,945 6,001 4,274 5,610 6,856 6,198 6,448 3,438.8 2,067.4 1,089.2 853.5 679.1 635.5 533 315.3 98.9 56.6 40.4
Non-Current Assets
Property, Plant & Equipment 804 851 931 896 639 864 759 756 799 937 807.9 693.8 370.7 362.9 345.2 103.2 47.9 19.3 12.2 9.2 4.8
Goodwill 2,723 2,759 2,759 2,346 2,039 1,778 1,735 1,739 1,684 1,676 681.0 680.1 0 0 0 0 0 0 0 0 0
Intangible Assets 43 124 181 142 101 44 47 94 131 180 45.7 90.1 323.5 51.2 58.6 79.5 0 0 0 0 0
Long-Term Investments 92 85 0 0 0 0 0 0 0 0 127.3 0 0 0 0 0 0 0 0 0 0
Other Non-Current Assets 316 275 319 335 361 342 389 221 156 175 0 331.1 93.8 51.7 25.9 218.0 10.9 11.7 4.6 3.1 0.2
Total Non-Current Assets 4,972 4,990 5,138 4,081 3,359 3,248 3,131 3,039 3,295 3,589 2,034.0 2,003.6 788.0 465.7 429.7 400.7 59.2 31.0 16.8 12.3 5.0
Total Assets 10,823 9,887 9,818 10,026 9,360 7,522 8,741 9,865 9,493 10,037 5,472.8 4,071.0 1,877.3 1,319.2 1,108.8 1,036.3 592.2 346.3 115.7 68.9 45.4
Current Liabilities
Account Payables 511 517 392 607 420 426 542 609 347 254 137.8 178.2 52.7 39.6 40.2 64.9 34.1 15.1 10.0 4.4 2.1
Short-Term Debt 750 400 0 250 0 522 649 385 1,249 849 0 0 0 0 0 0 0 0 0.0 0.0 0.0
Deferred Revenue 2,279 2,176 2,218 2,171 2,062 1,894 1,825 1,804 1,661 1,794 1,013.6 872.4 166.6 110.7 76.1 58.3 23.2 11.5 4.8 2.3 0.4
Other Current Liabilities 1,082 973 810 878 900 697 826 800 619 698 128.7 6.2 16.0 30.3 17.1 21.8 0.5 0 1.8 1.0 0.5
Total Current Liabilities 4,662 4,106 3,467 3,953 3,452 3,616 3,867 3,623 4,039 3,662 1,679.3 1,414.1 344.2 265.0 215.6 218.8 113.4 50.5 29.3 14.7 6.1
Non-Current Liabilities
Long-Term Debt 2,485 1,992 2,389 2,386 2,632 1,146 1,144 1,541 744 1,490 1,265 172.6 4.9 3.1 3.7 0.1 0.1 0.1 0.2 0.0 0.0
Deferred Tax Liabilities 45 153 144 131 127 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Other Non-Current Liabilities 118 212 316 400 452 621 797 992 249 413 164.5 783.9 112.3 66.8 31.0 12.9 0.3 0 0 0 0.3
Total Non-Current Liabilities 5,121 4,635 5,192 5,235 5,223 3,664 3,784 4,175 2,674 3,494 2,131.1 956.5 117.2 66.8 34.8 13.0 0.1 0.1 0.2 0.2 0.3
Total Liabilities 9,783 8,741 8,659 9,188 8,675 7,280 7,651 7,798 6,713 7,156 3,810.5 2,370.6 461.4 331.8 250.3 231.8 113.5 50.6 29.5 14.9 6.4
Stockholders' Equity
Common Stock 1,106 997 945 760 504 284 1,133 2,355 2,769 2,912 0.4 0.4 0.4 0.3 0.3 616.6 352.7 240.1 66.4 54.7 40.3
Retained Earnings 0 208 265 122 211 0 0 (218) 40 0 1,622.4 1,535.9 436.2 284.1 207.7 204.6 129.7 56.0 20.3 (0.6) (0.9)
Accumulated Other Comprehensive Income (66) (59) (51) (44) (30) (42) (43) (70) (29) (31) (5.2) 0.8 (22.7) (1.5) (6.1) (16.8) (3.7) (1.0) (0.5) (0.1) (0.4)
Total Stockholders' Equity 1,040 1,146 1,159 838 685 242 1,090 2,067 2,780 2,881 1,662.3 1,700.3 1,415.8 987.4 858.5 804.4 478.7 295.7 86.3 54.0 39.0
Total Liabilities & Equity 10,823 9,887 9,818 10,026 9,360 7,522 8,741 9,865 9,493 10,037 5,472.8 4,071.0 1,877.3 1,319.2 1,108.8 1,036.3 592.2 346.3 115.7 68.9 45.4
Debt Metrics
Total Debt 3,491 2,652 2,684 2,940 2,752 1,812 1,793 1,926 2,123 2,358 1,265 172.6 4.9 0 3.7 0.1 0.1 0.1 0.2 0.2 0.1
Net Debt 749 749 368 (1,172) (1,777) (846) (532) (1,015) (321) (510) (229.2) (763.9) (236.3) (284.2) (207.0) (271.8) (279.0) (221.2) (37.1) (21.3) (24.6)
Metric 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2005 2004 2003 2002 2001 2000 1999 1998 1997 1996
Operating Activities
Net Income 1,186 986 1,274 937 730 819 1,169 76 509 229 225.8 152.1 76.5 3.0 74.9 73.8 35.6 21.0 0.2 6.6
Depreciation & Amortization 243 255 248 194 207 193 197 198 226 279 65.6 59.5 57.4 65.3 42.3 15.7 8.1 5.5 2.9 1.4
Stock-Based Compensation 386 357 312 245 197 153 158 161 195 260 8.1 3.9 3.6 7.2 0 0 0 0 0 0
Change in Working Capital (250) 2 (106) (22) 285 (102) (109) 1,011 (18) 300 152.9 112.6 76.2 49.4 93.3 37.2 4.8 (2.5) (4.5) (2.6)
Other Non-Cash Items 41 32 (15) 1 (80) 14 (71) (245) (16) 19 3.3 4.3 (0.1) 23.5 43.4 3.0 2.5 0.4 10.4 0.2
Operating Cash Flow 1,506 1,685 1,107 1,211 1,333 1,060 1,341 1,478 986 974 462.1 310.9 195.2 143.9 218.4 118.1 45.9 22.7 6.3 3.5
Investing Activities
Capital Expenditure (168) (155) (239) (226) (162) (124) (173) (145) (175) (160) (93.6) (48.6) (61.3) (284.2) (83.7) (40.8) (15.5) (8.0) (7.1) (4.3)
Acquisitions 0 0 (491) (380) (350) (73) (3) (75) (8) (842) 0 (6.8) 0 0 (7.2) 0 0 0 0 0
Purchases of Investments (1,782) (2,635) (1,269) (18) (5) (13) (41) (1,389) (1,977) (1,589) (872.7) (590.6) (361.7) (362.9) (172.9) (106.5) (18.7) (15.1) (17.8) (3.0)
Sales/Maturities of Investments 2,027 2,055 550 45 160 1,383 917 1,379 1,934 2,571 605.8 355.7 271.9 211.9 151.6 30.6 23.7 11.2 13.8 0
Other Investing Activities 70 0 59 18 378 96 4 209 6 105 9.1 (8.9) 0 0 0 2.5 (7) (2) 0.0 0
Investing Cash Flow 147 (735) (1,390) (561) 21 1,269 704 (21) (220) 85 (351.3) (299.3) (151.1) (435.3) (112.2) (114.2) (17.5) (13.9) (11.0) (7.3)
Financing Activities
Net Debt Issuance 840 0 (250) 0 948 (127) (136) (70) (351) 998 0 0 0 0 0 0 0 (0.0) (0.0) (0.0)
Stock Repurchased (1,150) (900) (850) (600) (125) (1,411) (2,111) (794) (705) (960) (192.9) (136.2) 0 0 0 0 0 (0.0) (0.1) 0
Dividends Paid (424) (416) (432) (446) (427) (439) (403) (214) (208) (210) 0 0 0 0 0 0 0 0 0 0
Other Financing Activities (202) (28) (89) 29 90 (85) (102) (81) (7) (7) (1.1) 0 0 193.7 (193.7) 0 0 0 0 0
Financing Cash Flow (828) (1,344) (1,513) (1,017) 444 (1,960) (2,631) (986) (1,179) (109) (12.1) (54.6) 29.2 230.2 (113.2) 53.8 155.5 6.9 1.7 26.6
Cash Position
Net Change in Cash 840 (413) (1,797) (416) 1,869 335 (616) 497 (424) 946 101.2 (43.0) 73.4 (61.2) (7.1) 57.7 184.0 15.8 (3.1) 22.8
Cash at Beginning 1,909 2,316 4,119 4,535 2,666 2,331 2,947 2,444 2,868 1,922 92.3 284.2 210.8 271.9 279.0 221.3 37.3 21.5 24.6 1.8
Cash at End 2,749 1,903 2,322 4,119 4,535 2,666 2,331 2,941 2,444 2,868 193.5 241.1 284.2 210.8 271.9 279.0 221.3 37.3 21.5 24.6
Free Cash Flow 1,338 1,530 868 985 1,171 936 1,168 1,333 811 814 368.6 262.3 134.0 (140.3) 134.7 77.3 30.5 14.8 (0.9) (0.8)
Key Metrics 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 2002 2001 2000 1999 1998 1997 1996
Income Statement
Revenue 6,572 6,268 6,362 6,318 5,744 5,412 6,146 5,911 5,519 5,546 6,122.7 6,325.1 6,332.4 6,233.2 5,122.6 3,931.4 3,406.4 3,303.2 2,804.3 2,066.5 1,598.1 1,170.3 892.1 798.4 1,006.2 579.3 289.4 166.2 93.3 46.6
Gross Profit 4,613 4,433 4,209 4,220 3,815 3,623 3,945 3,699 3,390 3,373 3,833.2 3,919.1 3,761.1 3,713.4 3,328.7 2,519.2 1,989.9 2,013.4 1,704.5 1,256.5 975.0 704.5 546.4 480.5 604.5 343.5 171.3 98.6 55.3 26.1
Operating Income 1,337 1,214 1,018 1,157 1,031 945 1,221 1,125 665 348 716.5 734.3 607.8 746.5 824.3 488.4 47.2 313.6 301.2 308.3 253.2 158.5 87.6 (1.1) 109.7 105.4 55.1 32.7 3.1 6
Net Income 1,186 986 1,274 937 730 819 1,169 76 509 229 559.9 637.5 505.3 605.4 673.1 400.4 86.5 309.7 297.7 266.5 225.8 152.1 76.5 3.0 74.9 73.8 35.6 21.0 0.2 6.6
EPS (Diluted) 5.67 4.63 5.79 4.09 3.23 3.52 4.51 0.28 1.81 0.77 1.75 1.83 1.37 1.58 1.71 1.13 0.19 0.86 0.77 0.69 0.59 0.42 0.22 0.01 0.21 0.21 0.11 0.07 0.00 0.03
Balance Sheet
Cash & Equivalents 2,742 1,903 2,316 4,112 4,529 2,658 2,325 2,941 2,444 2,868 1,494.2 936.5 241.1 284.2 210.8 271.9 279.0 221.3 37.3 21.5 24.6
Total Assets 10,823 9,887 9,818 10,026 9,360 7,522 8,741 9,865 9,493 10,037 5,472.8 4,071.0 1,877.3 1,319.2 1,108.8 1,036.3 592.2 346.3 115.7 68.9 45.4
Total Debt 3,491 2,652 2,684 2,940 2,752 1,812 1,793 1,926 2,123 2,358 1,265 172.6 4.9 0 3.7 0.1 0.1 0.1 0.2 0.2 0.1
Stockholders' Equity 1,040 1,146 1,159 838 685 242 1,090 2,067 2,780 2,881 1,662.3 1,700.3 1,415.8 987.4 858.5 804.4 478.7 295.7 86.3 54.0 39.0
Cash Flow
Operating Cash Flow 1,506 1,685 1,107 1,211 1,333 1,060 1,341 1,478 986 974 462.1 310.9 195.2 143.9 218.4 118.1 45.9 22.7 6.3 3.5
Capital Expenditure (168) (155) (239) (226) (162) (124) (173) (145) (175) (160) (93.6) (48.6) (61.3) (284.2) (83.7) (40.8) (15.5) (8.0) (7.1) (4.3)
Free Cash Flow 1,338 1,530 868 985 1,171 936 1,168 1,333 811 814 368.6 262.3 134.0 (140.3) 134.7 77.3 30.5 14.8 (0.9) (0.8)