NetApp, Inc.
NTAP · Price history
Price at last available close
$223.66
+$14.48 (+6.92%) 1M
2026-10-28
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Company & revenue
About NetApp, Inc.
Primary reporting period: 2026-04-24 · Research updated Oct 12, 2026. A research update is not a new financial filing.
Who they are
NetApp, Inc. is a technology company focused on providing cloud-centric and data-driven services that enable businesses worldwide to efficiently manage and share their information across on-premises infrastructure, private cloud setups, and public cloud platforms. The company's operations are divided into two key segments: Hybrid Cloud and Public Cloud. NetApp offers an extensive suite of intelligent data management software, including its foundational NetApp ONTAP, NetApp Snapshot for data protection, NetApp SnapCenter for backup management, NetApp SnapMirror for data replication, NetApp SnapLock for data compliance, NetApp ElementOS software, and NetApp SANtricity software.
How they make money
NetApp operates as an intelligent data infrastructure company, generating revenue through the sale of storage hardware, software, and cloud-based data services. The company utilizes a hybrid model that includes direct sales and indirect channel distribution, offering flexible consumption models and subscription-based cloud services to help enterprises manage data across on-premises and public cloud environments.
Products & services
NetApp provides enterprise-grade storage solutions, including the ONTAP data management software, all-flash and hybrid-flash storage arrays, and cloud-native data services integrated with major public cloud providers like AWS, Microsoft Azure, and Google Cloud.
Brands & revenue mix
Flagship data management software.
Separate brand revenue is not available in this research.Source
Infrastructure monitoring tool.
Separate brand revenue is not available in this research.Source
Revenue share is not unit sales or a best-seller ranking. Parent brands and included sub-brands can overlap; do not add overlapping rows.
Product / operating segments
Period ended 2026-04-24Source
Period ended 2026-04-24Source
Period ended 2026-04-24Source
Period ended 2026-04-24Source
Calculated from reported segment revenue. Check the source period and revenue basis before comparing shares. Categories can overlap and may not add to 100%.
Geographic revenue
Period ended 2026-04-24Source
Period ended 2026-04-24Source
Period ended 2026-04-24Source
Calculated from reported segment revenue. Check the source period and revenue basis before comparing shares. Categories can overlap and may not add to 100%.
Customer concentration
Sales to two of our major customers accounted for 43% of our net revenues in fiscal 2026.
Suppliers, materials & equipment
- Contract Manufacturers — The company relies on third-party contract manufacturers to assemble its hardware products; specific supplier names are unnamed.Source
Business relationships & partnerships
- Amazon Web Services (AWS) — Strategic collaboration to provide cloud-based storage services and infrastructure solutions.Source
- Microsoft Azure — Strategic collaboration to provide cloud-based storage services and infrastructure solutions.Source
- Google Cloud — Strategic collaboration to provide cloud-based storage services and infrastructure solutions.Source
Competitors
Strengths
Wall Street Score
Overall investment score · Quality, value, risk and opportunity
41
Weak
View category scores →
Company Quality
How good is the actual business—regardless of today’s stock price?
79
Strong
Financial Strength
81
Business Quality / Moat
80
Management
100
Growth Quality
38
Risk / Durability
97
Uses financial strength, moat, management, growth quality and durability. It excludes share price, P/E, market cap, intrinsic value and margin of safety.
Opportunity
Opportunity Score · How does the current price compare with estimated value?
27
Avoid
Based on current valuation, company quality, recent trends, and available market signals.
View score details →
Model Outlook
12-month model · What does the model think happens next?
33/100
Building Historical Record
Model Score 33/100 — estimates relative performance potential, distinct from the overall Wall Street Score and the separate Company Quality score.
Probability unavailable — the model has not produced a calibrated probability yet.
Click for full breakdown →
WSS View
The quick read
The overall Wall Street Score is low across its combined quality, valuation and risk inputs. This can reflect an expensive share price, business weaknesses, or both; check Company Quality and the category breakdown before drawing a conclusion.
At today’s price, the WSS valuation framework currently reads as less attractive based on the available valuation and market data.
The model outlook is currently cautious.
- •Balance-sheet / debt profile scores strongly
- •Recent buyback activity is present
- •Valuation is a weaker part of the current profile
- •Revenue fundamentals are weak
- •Asset quality is a weaker factor
Company-specific research
Questions worth answering for NTAP
These questions are generated from this company's current financial and score data so the page adds context instead of treating the headline score as a stand-alone conclusion.
- •Can NTAP maintain its current revenue growth rate and improve the amount of that revenue that turns into earnings and cash?
- •Is NTAP's positive free cash flow repeatable, or is the current level being helped by temporary working-capital or spending changes?
- •Does NTAP's balance between cash and debt leave enough flexibility if business conditions weaken?
- •What future growth or profitability would be needed to justify NTAP's current valuation?
Essential Investment Snapshot
Wall Street Score
41
Opportunity Score
27
Market Cap
$43.93B
P/E Ratio
32.6
EPS
$7.18
52-Week High
$238.08
52-Week Low
$93.69
Beta
1.45
Intrinsic Value
$102.20
Analyst Target
$205.00
Shares Outstanding
199.0M
Total Revenue
$7.39B
Total Debt
$2.53B
Dividend Yield (TTM)
0.93%
Liquidation Value / Share
$7.51
Dividend / Share (TTM)
$2.08
Momentum & Volatility Signals
Two different market-behavior signals. Momentum measures direction and trend strength. Volatility measures how large and unstable the price moves are, regardless of direction.
Building upward momentum
Normal movement
A high momentum score means price has been trending upward with confirming short- and medium-term strength. A low score means downward or weakening momentum.
A high volatility score means larger, less stable price swings. It can happen while a stock is rising or falling, so high volatility is not automatically bullish or bearish.
Important: the volatility score above is based on realized price volatility. Implied volatility (IV) comes from options prices and represents the market's expected future movement. Wall Street Score will keep IV separate and will only display it when a verified options-chain feed is available.
Notices for NTAP
Detected from reported data — verify before acting.Dividend history reported
Dividend payments are recorded. Review the dates and regular/special classification below; past payments do not guarantee future dividends.
Historical repurchase activity
Reported cash flows or share-count measures indicate past repurchase activity. This does not verify an active buyback authorization or future purchases.
Community Sentiment
0 active · 0 total callsNo personal call yet on NTAP.
Potential upside factors
- +Growth opportunities may come from revenue expansion, margin improvement, new products, market-share gains, and stronger cash flow.
- +Strategic differentiation and deep customer-centricity.
- +Deep integration with major public cloud providers.
- +Positive free cash flow may provide capacity to invest in growth.
Potential downside factors
- −Key risks may include competition, margin pressure, debt levels, valuation risk, and changes in demand within the Computer Hardware industry.
- −Rapid technological change and evolving customer requirements.
- −Emergence of new competitors and business models.
These research factors come from saved company research and financial data, not community votes. They are starting points to verify against filings, not buy or sell recommendations.
Create a free account to make a call.
Scores
Click any score for full breakdownWas this stock page easy to understand?
One click helps us improve the research experience. This is not tied to an investment decision.
Score Changes
3 historical score records availablePrevious Score
43
Oct 1, 2026
Change
-1.1
points
Current Score
41
Oct 8, 2026
Category Changes
NTAP decreased 1.1 points because Capital declined by 5 points, Valuation declined by 5.9 points.
Negative Contributors
- − Capital declined by 5 points
- − Valuation declined by 5.9 points
Projected Score
Projected Score
43
Projected Change
+2.0 points
Preliminary comparable-period financial changes suggest improvement of approximately 2.0 points. This is a projected estimate, not the official WallStreetScore.
Price vs. Value
OvervaluedCurrent Price
$223.66
Model Intrinsic Value
$102.20
Difference
+$121.46
+118.9% vs IV
Margin of Safety
-118.9%
Financial Charts
Revenue
Additional Metrics
Operating Cash Flow
Total Debt
Total Assets
Net Margin %
Free includes 3 annual periods plus available TTM; Premium includes up to 10 annual periods. History depends on available company filings. Swipe the table horizontally to see older periods. A dash means unavailable, not zero.
| Line Item | TTM | 2026 | 2025 | 2025 | 2024 | 2024 | 2023 | 2023 | 2022 | 2022 | 2021 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $7.39B | $6.92B | $6.57B | $6.57B | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Cost of Revenue | $2.17B | $2.03B | $1.96B | $1.96B | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Gross Profit | $5.22B | $4.90B | $4.61B | $4.61B | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Research & Development | $1.02B | $991.0M | $1.01B | $1.01B | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| SG&A Expenses | $2.27B | $2.21B | $2.18B | $2.18B | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Operating Expenses | $3.32B | $3.23B | $3.28B | $3.28B | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| EBITDA | $2.15B | $1.93B | $1.69B | $1.69B | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Operating Income | $1.90B | $1.70B | $1.34B | $1.34B | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Interest Expense | $109.0M | $81.0M | $64.0M | $64.0M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Income Before Tax | $1.83B | $1.65B | $1.38B | $1.38B | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Income Tax Expense | $410.0M | $372.0M | $197.0M | $197.0M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Net Income | $1.42B | $1.28B | $1.19B | $1.19B | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Basic EPS | $7.18 | $6.43 | $5.81 | $5.81 | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Basic Shares | 196M | 197M | 204M | 204M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Diluted Shares | 200M | 199M | 209M | 209M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
Earnings Summary
Revenue
$2.02B
Estimate unavailable.
Revenue Beat/Miss
Not available (no estimate stored)
EPS
$1.88
Estimate unavailable.
EPS Beat/Miss
Not available (no estimate stored)
Debt Change
-7.7%
Cash Change
-24.6%
Margin Change
+3.6 pp
Debt and cash show percentage changes versus the comparison period; margin shows the change in percentage points (pp). These are company-wide changes, not per-share amounts.
Financial Changes Since Prior Period
What Improved
- Margins expanded
- Debt reduced
What Weakened
- Cash position declined
Potential Score Impact
Positive indicators included revenue growth, EPS growth, debt levels, net income margin. Pressure indicators included cash levels. These factors may support or pressure the Revenue, Management, Financial, and Debt categories; this summary does not claim that the stored scores changed.
Stored Earnings Analysis
Revenue increased 29.9%. EPS increased 63.5%. Cash declined 24.6%. Total debt declined 7.7%. Net income margin improved by 3.6 percentage points.
Earnings-Call Transcript
Earnings-call transcript analysis is not currently available.
These results may influence future scores when the next evaluation is completed.
Insider Activity
Guru / Smart Money
Guru Score
15
Smart Money
15
Number of Gurus
2
Total Guru Value
Avg Portfolio Weight
Largest Holder
Largest Holder %
New Positions
Increased Positions
Reduced Positions
Exited Positions
Net Guru Sentiment
Short Interest
Dividend History
Log in to view dividend history.
Conservative Projected Values
3 Years
$———.——
5 Years
$———.——
10 Years
$———.——
Conservative Projection Rate
——%
Conservative Projected Values — price projections derived from actual 10-year adjusted historical returns, conservatively adjusted and capped at 8% annually. These are distinct from the Outperformance Model Score and WallStreetScore.
Conservative Projected Values
Premium unlocks the 3-year, 5-year, and 10-year conservative projected values with full calculation breakdowns based on actual historical returns.
Start 7-Day Free TrialHistorical Outperformance Record
Premium includes stored forecasts and any available evaluated results. Completed results, win rates and calibrated probabilities are shown only when supported records exist; access does not create historical outcomes.
Start 7-Day Free TrialHistorical Trends
3 historical recordsHistorical Score Chart
3 of 3 records shownWall Street Score
Debt Score
Revenue Score
Asset Score
Capital Score
Management Score
Moat Score
Valuation Score
Buffett Score
Intrinsic Value
Value Reference
Margin of Safety %
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Rumor Mill · NTAP
Corporate developments & opportunities
No reviewed developments match this filter.
Evidence credibility is not a forecast of stock performance. Rumor Mill is separate from the WSS score.
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