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NetApp (NTAP) Financials

NetApp logo
$92.26 -0.83 (-0.89%)
Closing price 05/6/2025 04:00 PM Eastern
Extended Trading
$93.66 +1.40 (+1.51%)
As of 05/6/2025 07:44 PM Eastern
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Annual Income Statements for NetApp

Annual Income Statements for NetApp

This table shows NetApp's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 4/24/2015 4/29/2016 4/28/2017 4/27/2018 4/26/2019 4/24/2020 4/30/2021 4/29/2022 4/28/2023 4/26/2024
Net Income / (Loss) Attributable to Common Shareholders		 560 229 481 116 1,169 819 730 937 1,274 986
Consolidated Net Income / (Loss)		 560 229 481 116 1,169 819 730 937 1,274 986
Net Income / (Loss) Continuing Operations		 560 229 481 116 1,169 819 730 937 1,274 986
Total Pre-Tax Income 		713 345 621 1,199 1,268 944 962 1,095 1,066 1,263
Total Operating Income		 716 348 621 1,158 1,221 945 1,031 1,157 1,018 1,214
Total Gross Profit		 3,833 3,373 3,364 3,709 3,945 3,623 3,815 4,220 4,209 4,433
Total Revenue		 6,123 5,546 5,491 5,919 6,146 5,412 5,744 6,318 6,362 6,268
Operating Revenue		 6,123 5,546 5,491 5,919 6,146 5,412 5,744 6,318 6,362 6,268
Total Cost of Revenue		 2,290 2,173 2,127 2,210 2,201 1,789 1,929 2,098 2,153 1,835
Operating Cost of Revenue		 2,290 2,173 2,127 2,210 2,201 1,789 1,929 2,098 2,153 1,835
Total Operating Expenses		 3,117 3,025 2,743 2,551 2,724 2,678 2,784 3,063 3,191 3,219
Selling, General & Admin Expense		 284 307 271 280 278 263 257 279 265 308
Marketing Expense		 1,913 1,792 1,651 1,706 1,657 1,585 1,744 1,857 1,829 1,828
Research & Development Expense		 920 861 779 783 827 847 881 881 956 1,029
Other Operating Expenses / (Income)		 - - - -218 -73 -38 -156 0.00 0.00 0.00
Restructuring Charge		 0.00 116 52 0.00 35 21 58 46 141 54
Total Other Income / (Expense), net		 -3.00 -3.00 0.00 41 47 -1.00 -69 -62 48 49
Income Tax Expense		 153 116 140 1,083 99 125 232 158 -208 277
Basic Earnings per Share		 $1.77 $0.78 $1.75 $0.43 $4.60 $3.56 $3.29 $4.20 $5.87 $4.74
Weighted Average Basic Shares Outstanding		 316M 294M 275M 268M 254M 230M 222M 223M 217M 208M
Diluted Earnings per Share		 $1.75 $0.77 $1.71 $0.42 $4.51 $3.52 $3.23 $4.09 $5.79 $4.63
Weighted Average Diluted Shares Outstanding		 321M 297M 281M 276M 259M 233M 226M 229M 220M 213M
Weighted Average Basic & Diluted Shares Outstanding		 316.40M 293.60M 275.10M 269.80M 254.10M 221.82M 223.22M 221.19M 212.43M 205.80M
Cash Dividends to Common per Share		 $0.66 $0.72 $0.76 $0.80 $1.60 $1.92 $1.92 $2.00 $2.00 $2.00

Quarterly Income Statements for NetApp

This table shows NetApp's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025
Period end date 7/29/2022 10/28/2022 1/27/2023 4/28/2023 7/28/2023 10/27/2023 1/26/2024 4/26/2024 7/26/2024 10/25/2024 1/24/2025
Net Income / (Loss) Attributable to Common Shareholders		 214 750 65 245 149 233 313 291 248 299 299
Consolidated Net Income / (Loss)		 214 750 65 245 149 233 313 291 248 299 299
Net Income / (Loss) Continuing Operations		 214 750 65 245 149 233 313 291 248 299 299
Total Pre-Tax Income 		270 305 177 314 186 315 382 380 299 360 370
Total Operating Income		 255 282 172 309 178 304 366 366 282 345 362
Total Gross Profit		 1,046 1,087 1,001 1,075 996 1,110 1,151 1,176 1,098 1,177 1,145
Total Revenue		 1,592 1,663 1,526 1,581 1,432 1,562 1,606 1,668 1,541 1,658 1,641
Operating Revenue		 1,592 1,663 1,526 1,581 1,432 1,562 1,606 1,668 1,541 1,658 1,641
Total Cost of Revenue		 546 576 525 506 436 452 455 492 443 481 496
Operating Cost of Revenue		 546 576 525 506 436 452 455 492 443 481 496
Total Operating Expenses		 791 805 829 766 818 806 785 810 816 832 783
Selling, General & Admin Expense		 72 67 59 67 74 75 81 78 75 77 74
Marketing Expense		 458 479 450 442 468 461 439 460 471 485 451
Research & Development Expense		 240 243 230 243 247 262 249 271 252 257 247
Restructuring Charge		 21 16 90 14 29 8.00 16 1.00 18 13 11
Total Other Income / (Expense), net		 15 23 5.00 5.00 8.00 11 16 14 17 15 8.00
Income Tax Expense		 56 -445 112 69 37 82 69 89 51 61 71
Basic Earnings per Share		 $0.97 $3.46 $0.30 $1.14 $0.70 $1.12 $1.52 $1.40 $1.20 $1.47 $1.47
Weighted Average Basic Shares Outstanding		 220M 217M 216M 217M 212M 208M 206M 208M 206M 204M 204M
Diluted Earnings per Share		 $0.96 $3.41 $0.30 $1.12 $0.69 $1.10 $1.48 $1.36 $1.17 $1.42 $1.44
Weighted Average Diluted Shares Outstanding		 224M 220M 219M 220M 216M 211M 211M 213M 212M 210M 208M
Weighted Average Basic & Diluted Shares Outstanding		 217.37M 215.57M 213.90M 212.43M 208.79M 206.03M 20.64M 205.80M 204.78M 203.31M 203.41M
Cash Dividends to Common per Share		 $0.50 $0.50 $0.50 $0.50 $0.50 $0.50 $0.50 $0.50 $0.52 $0.52 $0.52

Annual Cash Flow Statements for NetApp

This table details how cash moves in and out of NetApp's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 4/24/2015 4/29/2016 4/28/2017 4/27/2018 4/26/2019 4/24/2020 4/30/2021 4/29/2022 4/28/2023 4/26/2024
Net Change in Cash & Equivalents		 -369 946 -416 497 -586 335 -259 -416 -1,797 -413
Net Cash From Operating Activities		 1,268 974 986 1,478 1,341 1,060 1,333 1,211 1,107 1,685
Net Cash From Continuing Operating Activities		 1,268 974 986 1,478 1,341 1,060 1,333 1,211 1,107 1,685
Net Income / (Loss) Continuing Operations		 560 229 481 116 1,169 819 730 937 1,274 986
Consolidated Net Income / (Loss)		 560 229 481 116 1,169 819 730 937 1,274 986
Depreciation Expense		 307 279 226 198 197 193 207 194 248 255
Non-Cash Adjustments To Reconcile Net Income		 204 209 185 -57 85 166 93 300 364 402
Changes in Operating Assets and Liabilities, net		 197 257 94 1,221 -110 -118 303 -220 -779 42
Net Cash From Investing Activities		 -903 85 -223 -21 704 1,269 21 -561 -1,390 -735
Net Cash From Continuing Investing Activities		 -903 85 -223 -21 704 1,269 21 -561 -1,390 -735
Purchase of Property, Plant & Equipment		 -175 -160 -175 -145 -173 -124 -162 -226 -239 -155
Acquisitions		 -85 -842 -8.00 -75 -3.00 -73 -350 -380 -491 0.00
Purchase of Investments		 -2,597 -1,589 -1,977 -1,389 -41 -13 -5.00 -18 -1,269 -2,635
Sale and/or Maturity of Investments		 1,952 2,571 1,934 1,379 917 1,383 165 63 550 2,055
Other Investing Activities, net		 2.00 3.00 3.00 -1.00 4.00 0.00 2.00 0.00 59 0.00
Net Cash From Financing Activities		 -675 -109 -1,179 -986 -2,631 -1,960 444 -1,017 -1,513 -1,344
Net Cash From Continuing Financing Activities		 -675 -109 -1,179 -986 -2,631 -1,960 -1,613 -1,017 -1,513 -1,344
Repayment of Debt		 -9.00 -27 -857 -871 -142 -416 -1,117 -2.00 -255 -1.00
Repurchase of Common Equity		 -1,165 -960 -705 -794 -2,111 -1,411 -125 -600 -850 -900
Payment of Dividends		 -208 -210 -208 -214 -403 -439 -427 -446 -432 -416
Issuance of Common Equity		 157 120 140 173 121 102 98 105 108 100
Other Financing Activities, net		 55 98 -48 -75 -96 -79 -42 -74 -84 -127
Effect of Exchange Rate Changes		 - -4.00 - 26 - -34 - -49 -1.00 -19

Quarterly Cash Flow Statements for NetApp

This table details how cash moves in and out of NetApp's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025
Period end date 7/29/2022 10/28/2022 1/27/2023 4/28/2023 7/28/2023 10/27/2023 1/26/2024 4/26/2024 7/26/2024 10/25/2024 1/24/2025
Net Change in Cash & Equivalents		 -824 -619 -30 -324 -296 -85 -115 83 -250 -172 31
Net Cash From Operating Activities		 281 214 377 235 453 135 484 613 341 105 385
Net Cash From Continuing Operating Activities		 281 214 377 235 453 135 484 613 341 105 385
Net Income / (Loss) Continuing Operations		 214 750 65 245 149 233 313 291 248 299 299
Consolidated Net Income / (Loss)		 214 750 65 245 149 233 313 291 248 299 299
Depreciation Expense		 58 59 65 66 64 64 63 64 63 63 64
Non-Cash Adjustments To Reconcile Net Income		 81 91 106 86 98 105 100 99 95 114 113
Changes in Operating Assets and Liabilities, net		 -72 -686 141 -162 142 -267 8.00 159 -65 -371 -91
Net Cash From Investing Activities		 -628 -288 -189 -285 -228 227 -437 -297 -51 564 -53
Net Cash From Continuing Investing Activities		 -628 -288 -189 -285 -228 227 -437 -297 -51 564 -53
Purchase of Property, Plant & Equipment		 -65 -77 -58 -39 -35 -38 -36 -46 -41 -45 -47
Purchase of Investments		 -133 -287 -342 -507 -571 -289 -803 -972 -480 -402 -406
Sale and/or Maturity of Investments		 2.00 76 210 262 379 553 402 721 470 1,009 399
Other Investing Activities, net		 59 - 1.00 -1.00 -1.00 1.00 - - 0.00 2.00 1.00
Net Cash From Financing Activities		 -459 -520 -265 -269 -521 -421 -178 -224 -548 -842 -289
Net Cash From Continuing Financing Activities		 -459 -520 -265 -269 -521 -421 -178 -224 -548 -842 -289
Repurchase of Common Equity		 -350 -150 -200 -150 -400 -300 -100 -100 -400 -300 -200
Payment of Dividends		 -110 -108 -108 -106 -106 -103 -103 -104 -107 -106 -106
Issuance of Common Equity		 54 - 54 - 52 - 48 - 55 - 53
Other Financing Activities, net		 -52 -11 -11 -10 -65 -20 -23 -19 -97 -35 -36
Effect of Exchange Rate Changes		 -18 -25 39 3.00 0.00 -26 16 -9.00 8.00 1.00 -12

Annual Balance Sheets for NetApp

This table presents NetApp's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 4/24/2015 4/29/2016 4/28/2017 4/27/2018 4/26/2019 4/24/2020 4/30/2021 4/29/2022 4/28/2023 4/26/2024
Total Assets		 9,401 10,037 9,493 9,991 8,741 7,522 9,360 10,026 9,818 9,887
Total Current Assets		 6,773 6,448 6,198 6,952 5,610 4,274 6,001 5,945 4,680 4,897
Cash & Equivalents		 1,922 2,868 2,444 2,941 2,325 2,658 4,529 4,112 2,316 1,903
Short-Term Investments		 3,404 2,435 2,477 2,450 1,574 224 67 22 754 1,349
Accounts Receivable		 779 813 731 1,047 1,216 973 945 1,230 987 1,007
Inventories, net		 146 98 163 122 131 145 114 204 167 186
Other Current Assets		 522 234 383 392 364 274 346 377 456 452
Plant, Property, & Equipment, net		 1,030 937 799 756 759 727 525 602 650 604
Total Noncurrent Assets		 1,598 2,652 2,496 2,283 2,372 2,521 2,834 3,479 4,488 4,386
Goodwill		 1,027 1,676 1,684 1,739 1,735 1,778 2,039 2,346 2,759 2,759
Intangible Assets		 90 180 131 94 47 44 101 142 181 124
Other Noncurrent Operating Assets		 481 796 681 450 590 699 694 991 1,548 1,503
Total Liabilities & Shareholders' Equity		 9,401 10,037 9,493 9,991 8,741 7,522 9,360 10,026 9,818 9,887
Total Liabilities		 5,987 7,156 6,713 7,715 7,651 7,280 8,675 9,188 8,659 8,741
Total Current Liabilities		 2,709 3,662 4,122 3,531 3,867 3,616 3,452 3,953 3,467 4,106
Short-Term Debt		 0.00 849 1,249 385 649 522 0.00 250 0.00 400
Accounts Payable		 284 254 347 609 542 426 420 607 392 517
Accrued Expenses		 701 765 782 825 851 774 970 925 857 1,013
Current Deferred Revenue		 1,724 1,794 1,744 1,712 1,825 1,894 2,062 2,171 2,218 2,176
Total Noncurrent Liabilities		 3,278 3,494 2,591 4,184 3,784 3,664 5,223 5,235 5,192 4,635
Long-Term Debt		 1,487 1,490 744 1,541 1,144 1,146 2,632 2,386 2,389 1,992
Noncurrent Deferred Revenue		 1,473 1,591 1,598 1,651 1,843 1,804 1,941 2,061 2,095 2,058
Other Noncurrent Operating Liabilities		 318 413 249 992 797 714 650 788 708 585
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 3,414 2,881 2,780 2,276 1,090 242 685 838 1,159 1,146
Total Preferred & Common Equity		 3,414 2,881 2,780 2,276 1,090 242 685 838 1,159 1,146
Total Common Equity		 3,414 2,881 2,780 2,276 1,090 242 685 838 1,159 1,146
Common Stock		 3,385 2,912 2,769 2,355 1,133 284 504 760 945 997
Retained Earnings		 53 0.00 40 -9.00 0.00 0.00 211 122 265 208
Accumulated Other Comprehensive Income / (Loss)		 -24 -31 -29 -70 -43 -42 -30 -44 -51 -59

Quarterly Balance Sheets for NetApp

This table presents NetApp's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025
Period end date 7/29/2022 10/28/2022 1/27/2023 4/28/2023 7/28/2023 10/27/2023 1/26/2024 4/26/2024 7/26/2024 10/25/2024 1/24/2025
Total Assets		 9,544 9,780 9,710 9,818 9,270 9,073 9,369 9,887 9,311 9,004 8,989
Total Current Assets		 4,922 4,603 4,540 4,680 4,160 3,993 4,327 4,897 4,321 3,939 3,908
Cash & Equivalents		 3,288 2,669 2,640 2,316 2,020 1,934 1,820 1,903 1,652 1,478 1,511
Short-Term Investments		 151 364 501 754 955 686 1,097 1,349 1,365 744 750
Accounts Receivable		 865 910 821 987 653 787 787 1,007 679 873 898
Inventories, net		 232 244 175 167 131 122 131 186 214 317 268
Other Current Assets		 386 416 403 456 401 464 492 452 411 527 481
Plant, Property, & Equipment, net		 622 661 667 650 641 623 607 604 594 593 567
Total Noncurrent Assets		 4,000 4,516 4,503 4,488 4,469 4,457 4,435 4,386 4,396 4,472 4,514
Goodwill		 2,767 2,767 2,767 2,759 2,759 2,759 2,759 2,759 2,759 2,759 2,723
Intangible Assets		 232 215 198 181 166 152 138 124 110 96 49
Other Noncurrent Operating Assets		 1,001 1,534 1,538 1,548 1,544 1,546 1,538 1,503 1,527 1,617 1,742
Total Liabilities & Shareholders' Equity		 9,544 9,780 9,710 9,818 9,270 9,073 9,369 9,887 9,311 9,004 8,989
Total Liabilities		 8,887 8,578 8,608 8,659 8,397 8,303 8,375 8,741 8,382 8,112 7,994
Total Current Liabilities		 3,575 3,395 3,393 3,467 3,249 3,733 3,765 4,106 4,512 4,317 4,195
Short-Term Debt		 250 0.00 0.00 0.00 0.00 400 400 400 1,149 749 750
Accounts Payable		 515 584 432 392 344 411 396 517 437 554 434
Accrued Expenses		 722 819 835 857 778 919 876 1,013 793 969 941
Current Deferred Revenue		 2,088 1,992 2,126 2,218 2,127 2,003 2,093 2,176 2,133 2,045 2,070
Total Noncurrent Liabilities		 5,312 5,183 5,215 5,192 5,148 4,570 4,610 4,635 3,870 3,795 3,799
Long-Term Debt		 2,387 2,387 2,388 2,389 2,390 1,991 1,991 1,992 1,244 1,244 1,244
Noncurrent Deferred Revenue		 2,082 2,059 2,090 2,095 2,055 1,999 2,034 2,058 2,036 2,055 2,052
Other Noncurrent Operating Liabilities		 843 737 737 708 703 580 585 585 590 496 503
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 657 1,202 1,102 1,159 873 770 994 1,146 929 892 995
Total Preferred & Common Equity		 657 1,202 1,102 1,159 873 770 994 1,146 929 892 995
Total Common Equity		 657 1,202 1,102 1,159 873 770 994 1,146 929 892 995
Common Stock		 705 765 889 945 921 825 934 997 988 947 1,060
Retained Earnings		 0.00 499 268 265 0.00 0.00 115 208 0.00 0.00 0.00
Accumulated Other Comprehensive Income / (Loss)		 -48 -62 -55 -51 -48 -55 -55 -59 -59 -55 -65

Annual Metrics and Ratios for NetApp

This table displays calculated financial ratios and metrics derived from NetApp's official financial filings.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 4/24/2015 4/29/2016 4/28/2017 4/27/2018 4/26/2019 4/24/2020 4/30/2021 4/29/2022 4/28/2023 4/26/2024
Growth Metrics		 - - - - - - - - - -
Revenue Growth		 -3.19% -9.42% -0.99% 7.79% 3.84% -11.94% 6.13% 9.99% 0.70% -1.48%
EBITDA Growth		 -5.12% -38.82% 35.74% 64.94% 4.87% -22.39% 2.81% 15.57% -6.29% 16.03%
EBIT Growth		 -3.78% -51.61% 80.00% 93.08% 5.75% -25.55% 1.91% 20.27% -12.01% 19.25%
NOPAT Growth		 -11.02% -58.92% 108.23% -76.71% 904.76% -27.17% -4.57% 26.55% 22.89% -22.10%
Net Income Growth		 -12.23% -59.11% 110.04% -75.88% 907.76% -29.94% -10.87% 28.36% 35.97% -22.61%
EPS Growth		 -4.37% -56.00% 122.08% -75.44% 973.81% -21.95% -8.24% 26.63% 41.56% -20.03%
Operating Cash Flow Growth		 -6.07% -23.19% 1.23% 49.90% -9.27% -20.95% 25.75% -9.15% -8.59% 52.21%
Free Cash Flow Firm Growth		 -13.16% -114.59% 591.85% 111.18% -17.38% -18.56% 40.41% -65.94% -78.81% 1,349.43%
Invested Capital Growth		 -87.47% 80.47% -78.31% -703.38% 14.55% 4.33% -31.58% 48.40% 172.42% -40.17%
Revenue Q/Q Growth		 293.56% -2.80% 1.35% 3.33% -0.84% -3.41% 2.75% 2.02% -1.53% 1.41%
EBITDA Q/Q Growth		 -6.39% -13.69% 16.51% 9.31% 3.97% -10.61% 19.04% -6.83% 2.51% 3.89%
EBIT Q/Q Growth		 -7.71% -23.16% 30.19% 11.53% 4.62% -12.43% 23.97% -8.10% 1.60% 4.93%
NOPAT Q/Q Growth		 -9.96% -37.35% 53.06% 1,056.75% 10.36% -16.44% 20.23% -6.62% -3.47% 4.31%
Net Income Q/Q Growth		 -10.04% -38.44% 54.66% 1,066.67% 9.97% -19.63% 23.31% -7.41% -1.09% 4.89%
EPS Q/Q Growth		 -7.41% -37.90% 56.88% 481.82% 11.36% -16.78% 23.28% -7.67% -0.17% 5.47%
Operating Cash Flow Q/Q Growth		 13.57% -4.98% 2.07% 9.56% -6.62% -1.49% 15.21% -10.89% -13.72% 28.92%
Free Cash Flow Firm Q/Q Growth		 6.21% -120.45% 1,220.23% -3.78% 10.52% 2.74% 98.88% -61.36% -65.41% 44.35%
Invested Capital Q/Q Growth		 -70.14% 80.42% -142.62% 6.45% 8.72% -9.58% -63.14% 3.51% 36.96% -38.89%
Profitability Metrics		 - - - - - - - - - -
Gross Margin		 62.60% 60.82% 61.26% 62.66% 64.19% 66.94% 66.42% 66.79% 66.16% 70.72%
EBITDA Margin		 16.66% 11.25% 15.43% 23.60% 23.84% 21.01% 20.35% 21.38% 19.90% 23.44%
Operating Margin		 11.69% 6.27% 11.31% 19.56% 19.87% 17.46% 17.95% 18.31% 16.00% 19.37%
EBIT Margin		 11.64% 6.22% 11.31% 20.26% 20.63% 17.44% 16.75% 18.31% 16.00% 19.37%
Profit (Net Income) Margin		 9.15% 4.13% 8.76% 1.96% 19.02% 15.13% 12.71% 14.83% 20.03% 15.73%
Tax Burden Percent		 78.54% 66.38% 77.46% 9.67% 92.19% 86.76% 75.88% 85.57% 119.51% 78.07%
Interest Burden Percent		 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 94.64% 104.72% 104.04%
Effective Tax Rate		 21.46% 33.62% 22.54% 90.33% 7.81% 13.24% 24.12% 14.43% -19.51% 21.93%
Return on Invested Capital (ROIC)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 248.10%
ROIC Less NNEP Spread (ROIC-NNEP)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 243.14%
Return on Net Nonoperating Assets (RNNOA)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% -162.55%
Return on Equity (ROE)		 15.55% 7.28% 16.99% 4.59% 69.46% 122.97% 157.50% 123.05% 127.59% 85.55%
Cash Return on Invested Capital (CROIC)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 16.45% 298.36%
Operating Return on Assets (OROA)		 7.66% 3.55% 6.36% 12.31% 13.54% 11.61% 11.40% 11.94% 10.26% 12.32%
Return on Assets (ROA)		 6.02% 2.36% 4.93% 1.19% 12.48% 10.07% 8.65% 9.67% 12.84% 10.01%
Return on Common Equity (ROCE)		 15.55% 7.28% 16.99% 4.59% 69.46% 122.97% 157.50% 123.05% 127.59% 85.55%
Return on Equity Simple (ROE_SIMPLE)		 16.40% 7.95% 17.30% 5.10% 107.25% 338.43% 106.57% 111.81% 109.92% 86.04%
Net Operating Profit after Tax (NOPAT)		 562 231 481 112 1,126 820 782 990 1,217 948
NOPAT Margin		 9.18% 4.17% 8.76% 1.89% 18.32% 15.15% 13.62% 15.67% 19.12% 15.12%
Net Nonoperating Expense Percent (NNEP)		 -0.06% -0.06% 0.00% 0.12% 1.56% -0.05% -3.30% -3.06% 5.27% 4.96%
Cost of Revenue to Revenue		 37.40% 39.18% 38.74% 37.34% 35.81% 33.06% 33.58% 33.21% 33.84% 29.28%
SG&A Expenses to Revenue		 4.64% 5.54% 4.94% 4.73% 4.52% 4.86% 4.47% 4.42% 4.17% 4.91%
R&D to Revenue		 15.03% 15.52% 14.19% 13.23% 13.46% 15.65% 15.34% 13.94% 15.03% 16.42%
Operating Expenses to Revenue		 50.91% 54.54% 49.95% 43.10% 44.32% 49.48% 48.47% 48.48% 50.16% 51.36%
Earnings before Interest and Taxes (EBIT)		 713 345 621 1,199 1,268 944 962 1,157 1,018 1,214
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 1,020 624 847 1,397 1,465 1,137 1,169 1,351 1,266 1,469
Valuation Ratios		 - - - - - - - - - -
Price to Book Value (P/BV)		 2.59 1.91 3.20 6.64 13.95 34.96 22.35 18.33 11.29 1.82
Price to Tangible Book Value (P/TBV)		 3.85 5.37 9.22 34.14 0.00 0.00 0.00 0.00 0.00 0.00
Price to Revenue (P/Rev)		 1.44 0.99 1.62 2.56 2.47 1.56 2.67 2.43 2.06 0.33
Price to Earnings (P/E)		 15.79 24.03 18.50 130.37 13.01 10.33 20.97 16.40 10.27 2.11
Dividend Yield		 2.33% 3.78% 2.31% 1.42% 2.60% 5.02% 2.79% 2.90% 3.27% 1.98%
Earnings Yield		 6.33% 4.16% 5.41% 0.77% 7.69% 9.68% 4.77% 6.10% 9.74% 47.34%
Enterprise Value to Invested Capital (EV/IC)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 25.95 4.28
Enterprise Value to Revenue (EV/Rev)		 0.82 0.46 1.09 1.97 2.13 1.34 2.32 2.19 1.95 0.20
Enterprise Value to EBITDA (EV/EBITDA)		 4.90 4.07 7.05 8.35 8.94 6.37 11.42 10.26 9.80 0.83
Enterprise Value to EBIT (EV/EBIT)		 7.02 7.36 9.61 9.72 10.33 7.68 13.87 11.98 12.18 1.01
Enterprise Value to NOPAT (EV/NOPAT)		 8.89 10.99 12.41 104.06 11.64 8.84 17.06 14.01 10.19 1.29
Enterprise Value to Operating Cash Flow (EV/OCF)		 3.94 2.61 6.05 7.89 9.77 6.84 10.01 11.45 11.20 0.73
Enterprise Value to Free Cash Flow (EV/FCFF)		 6.58 0.00 10.93 10.11 13.75 9.34 12.25 37.37 157.73 1.07
Leverage & Solvency		 - - - - - - - - - -
Debt to Equity		 0.44 0.81 0.72 0.85 1.65 6.89 3.84 3.15 2.06 2.09
Long-Term Debt to Equity		 0.44 0.52 0.27 0.68 1.05 4.74 3.84 2.85 2.06 1.74
Financial Leverage		 -1.09 -1.08 -1.04 -1.26 -1.66 -2.49 -3.43 -2.27 -1.09 -0.67
Leverage Ratio		 2.59 3.09 3.45 3.85 5.57 12.21 18.21 12.73 9.94 8.55
Compound Leverage Factor		 2.59 3.09 3.45 3.85 5.57 12.21 18.21 12.05 10.41 8.89
Debt to Total Capital		 30.34% 44.81% 41.76% 45.84% 62.19% 87.33% 79.35% 75.88% 67.33% 67.61%
Short-Term Debt to Total Capital		 0.00% 16.26% 26.17% 9.16% 22.51% 27.33% 0.00% 7.20% 0.00% 11.31%
Long-Term Debt to Total Capital		 30.34% 28.54% 15.59% 36.67% 39.68% 60.00% 79.35% 68.68% 67.33% 56.30%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 69.66% 55.19% 58.24% 54.16% 37.81% 12.67% 20.65% 24.12% 32.67% 32.39%
Debt to EBITDA		 1.46 3.75 2.35 1.38 1.22 1.47 2.25 1.95 1.89 1.63
Net Debt to EBITDA		 -3.76 -4.75 -3.46 -2.48 -1.44 -1.07 -1.68 -1.11 -0.54 -0.59
Long-Term Debt to EBITDA		 1.46 2.39 0.88 1.10 0.78 1.01 2.25 1.77 1.89 1.36
Debt to NOPAT		 2.64 10.13 4.14 17.19 1.59 2.03 3.36 2.66 1.96 2.52
Net Debt to NOPAT		 -6.83 -12.83 -6.09 -30.93 -1.87 -1.48 -2.51 -1.51 -0.56 -0.91
Long-Term Debt to NOPAT		 2.64 6.45 1.55 13.75 1.02 1.40 3.36 2.41 1.96 2.10
Altman Z-Score		 2.31 1.46 1.86 2.57 2.61 1.94 2.37 2.27 2.08 1.31
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - - -
Current Ratio		 2.50 1.76 1.50 1.97 1.45 1.18 1.74 1.50 1.35 1.19
Quick Ratio		 2.25 1.67 1.37 1.82 1.32 1.07 1.61 1.36 1.17 1.04
Cash Flow Metrics		 - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 761 -111 546 1,153 953 776 1,089 371 79 1,140
Operating Cash Flow to CapEx		 724.57% 1,679.31% 563.43% 0.00% 775.14% 3,785.71% 0.00% 535.84% 463.18% 1,087.10%
Free Cash Flow to Firm to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Efficiency Ratios		 - - - - - - - - - -
Asset Turnover		 0.66 0.57 0.56 0.61 0.66 0.67 0.68 0.65 0.64 0.64
Accounts Receivable Turnover		 7.49 6.97 7.11 6.66 5.43 4.94 5.99 5.81 5.74 6.29
Inventory Turnover		 17.06 17.81 16.30 15.51 17.40 12.96 14.90 13.20 11.61 10.40
Fixed Asset Turnover		 5.73 5.64 6.33 7.61 8.11 7.28 9.18 11.21 10.16 10.00
Accounts Payable Turnover		 8.63 8.08 7.08 4.62 3.82 3.70 4.56 4.09 4.31 4.04
Days Sales Outstanding (DSO)		 48.73 52.39 51.32 54.82 67.20 73.82 60.94 62.83 63.60 58.06
Days Inventory Outstanding (DIO)		 21.39 20.49 22.39 23.54 20.98 28.16 24.50 27.66 31.45 35.11
Days Payable Outstanding (DPO)		 42.32 45.18 51.57 78.95 95.44 98.75 80.04 89.34 84.68 90.40
Cash Conversion Cycle (CCC)		 27.80 27.70 22.14 -0.59 -7.26 3.22 5.40 1.15 10.36 2.76
Capital & Investment Metrics		 - - - - - - - - - -
Invested Capital		 -425 -83 -148 -1,189 -1,016 -972 -1,279 -660 478 286
Invested Capital Turnover		 -18.79 -21.83 -47.54 -8.85 -5.57 -5.44 -5.10 -6.52 -69.91 16.41
Increase / (Decrease) in Invested Capital		 -198 342 -65 -1,041 173 44 -307 619 1,138 -192
Enterprise Value (EV)		 5,002 2,539 5,968 11,658 13,097 7,247 13,345 13,866 12,403 1,223
Market Capitalization		 8,841 5,503 8,896 15,123 15,203 8,461 15,309 15,364 13,084 2,083
Book Value per Share		 $10.95 $9.97 $10.26 $8.50 $4.41 $1.09 $3.08 $3.77 $5.42 $55.53
Tangible Book Value per Share		 $7.37 $3.55 $3.56 $1.65 ($2.80) ($7.14) ($6.54) ($7.41) ($8.33) ($84.17)
Total Capital		 4,901 5,220 4,773 4,202 2,883 1,910 3,317 3,474 3,548 3,538
Total Debt		 1,487 2,339 1,993 1,926 1,793 1,668 2,632 2,636 2,389 2,392
Total Long-Term Debt		 1,487 1,490 744 1,541 1,144 1,146 2,632 2,386 2,389 1,992
Net Debt		 -3,839 -2,964 -2,928 -3,465 -2,106 -1,214 -1,964 -1,498 -681 -860
Capital Expenditures (CapEx)		 175 58 175 -65 173 28 -209 226 239 155
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -1,262 -1,668 -1,596 -1,585 -1,507 -1,702 -2,047 -1,892 -1,857 -2,061
Debt-free Net Working Capital (DFNWC)		 4,064 3,635 3,325 3,806 2,392 1,180 2,549 2,242 1,213 1,191
Net Working Capital (NWC)		 4,064 2,786 2,076 3,421 1,743 658 2,549 1,992 1,213 791
Net Nonoperating Expense (NNE)		 2.36 1.99 0.00 -3.97 -43 0.87 52 53 -57 -38
Net Nonoperating Obligations (NNO)		 -3,839 -2,964 -2,928 -3,465 -2,106 -1,214 -1,964 -1,498 -681 -860
Total Depreciation and Amortization (D&A)		 307 279 226 198 197 193 207 194 248 255
Debt-free, Cash-free Net Working Capital to Revenue		 -20.61% -30.08% -29.07% -26.78% -24.52% -31.45% -35.64% -29.95% -29.19% -32.88%
Debt-free Net Working Capital to Revenue		 66.37% 65.54% 60.55% 64.30% 38.92% 21.80% 44.38% 35.49% 19.07% 19.00%
Net Working Capital to Revenue		 66.37% 50.23% 37.81% 57.80% 28.36% 12.16% 44.38% 31.53% 19.07% 12.62%
Earnings Adjustments		 - - - - - - - - - -
Adjusted Basic Earnings per Share		 $1.77 $0.78 $1.85 $0.28 $4.60 $3.56 $3.29 $4.20 $5.87 $4.74
Adjusted Weighted Average Basic Shares Outstanding		 315.50M 294M 275M 268M 254M 230M 222M 223M 217M 208M
Adjusted Diluted Earnings per Share		 $1.75 $0.77 $1.81 $0.28 $4.51 $3.52 $3.23 $4.09 $5.79 $4.63
Adjusted Weighted Average Diluted Shares Outstanding		 320.70M 297M 281M 276M 259M 233M 226M 229M 220M 213M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $4.60 $3.56 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 304.98M 280.08M 271.74M 263.48M 240.02M 221.82M 223.22M 221.19M 212.43M 205.80M
Normalized Net Operating Profit after Tax (NOPAT)		 562 274 514 811 1,158 838 826 1,029 811 990
Normalized NOPAT Margin		 9.18% 4.94% 9.35% 13.69% 18.84% 15.49% 14.39% 16.29% 12.75% 15.79%
Pre Tax Income Margin		 11.64% 6.22% 11.31% 20.26% 20.63% 17.44% 16.75% 17.33% 16.76% 20.15%
Debt Service Ratios		 - - - - - - - - - -
EBIT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
EBIT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Payout Ratios		 - - - - - - - - - -
Dividend Payout Ratio		 37.14% 91.70% 43.24% 184.48% 34.47% 53.60% 58.49% 47.60% 33.91% 42.19%
Augmented Payout Ratio		 245.18% 510.92% 189.81% 868.97% 215.06% 225.89% 75.62% 111.63% 100.63% 133.47%

Quarterly Metrics and Ratios for NetApp

This table displays calculated financial ratios and metrics derived from NetApp's official financial filings.

Metric Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025
Period end date 7/29/2022 10/28/2022 1/27/2023 4/28/2023 7/28/2023 10/27/2023 1/26/2024 4/26/2024 7/26/2024 10/25/2024 1/24/2025
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 9.19% 6.19% -5.45% -5.89% -10.05% -6.07% 5.24% 5.50% 7.61% 6.15% 2.18%
EBITDA Growth		 15.90% 11.66% -32.21% 9.01% -26.22% 1.10% 77.27% 14.67% 42.56% 10.87% -0.70%
EBIT Growth		 13.92% 8.93% -42.16% 5.46% -34.07% -0.33% 106.78% 18.45% 58.43% 13.49% -1.09%
NOPAT Growth		 -4.77% 194.83% -76.11% -13.58% -29.45% -67.57% 374.78% 16.25% 64.03% 27.43% -2.45%
Net Income Growth		 5.94% 234.82% -74.21% -5.41% -30.37% -68.93% 381.54% 18.78% 66.44% 28.33% -4.47%
EPS Growth		 9.09% 247.96% -72.73% -0.89% -28.13% -67.74% 393.33% 21.43% 69.57% 29.09% -2.70%
Operating Cash Flow Growth		 16.12% -28.19% 45.00% -42.82% 61.21% -36.92% 28.38% 160.85% -24.72% -22.22% -20.45%
Free Cash Flow Firm Growth		 -221.47% -236.55% -690.09% -163.79% 65.71% 123.57% 118.65% 152.66% 174.69% -31.40% -82.01%
Invested Capital Growth		 87.86% 148.14% 151.02% 172.42% 298.62% -2.70% 34.10% -40.17% 5.90% 22.55% 55.56%
Revenue Q/Q Growth		 -5.24% 4.46% -8.24% 3.60% -9.42% 9.08% 2.82% 3.86% -7.61% 7.59% -1.03%
EBITDA Q/Q Growth		 -4.65% 10.98% -33.52% 54.96% -35.47% 52.07% 16.58% -3.37% -19.77% 18.26% 4.41%
EBIT Q/Q Growth		 -7.85% 12.96% -41.97% 74.58% -42.39% 70.79% 20.39% -4.19% -22.95% 22.34% 4.93%
NOPAT Q/Q Growth		 -27.56% 243.10% -90.89% 281.70% -40.86% 57.70% 33.37% -6.54% -16.55% 22.51% 2.09%
Net Income Q/Q Growth		 -17.37% 250.47% -91.33% 276.92% -39.18% 56.38% 34.33% -7.03% -14.78% 20.56% 0.00%
EPS Q/Q Growth		 -15.04% 255.21% -91.20% 273.33% -38.39% 59.42% 34.55% -8.11% -13.97% 21.37% 1.41%
Operating Cash Flow Q/Q Growth		 -31.63% -23.84% 76.17% -37.67% 92.77% -70.20% 258.52% 26.65% -44.37% -69.21% 266.67%
Free Cash Flow Firm Q/Q Growth		 -149.08% -20.15% 4.69% 7.52% 67.62% 182.60% -24.59% 161.09% -54.07% -24.14% -80.23%
Invested Capital Q/Q Growth		 78.03% 483.45% -37.23% 36.96% -39.75% 87.85% -13.49% -38.89% 6.64% 117.38% 9.80%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 65.70% 65.36% 65.60% 67.99% 69.55% 71.06% 71.67% 70.50% 71.25% 70.99% 69.77%
EBITDA Margin		 20.60% 21.89% 15.86% 23.72% 16.90% 23.56% 26.71% 25.78% 22.39% 24.61% 25.96%
Operating Margin		 16.02% 16.96% 11.27% 19.54% 12.43% 19.46% 22.79% 21.94% 18.30% 20.81% 22.06%
EBIT Margin		 16.96% 18.34% 11.60% 19.54% 12.43% 19.46% 22.79% 21.94% 18.30% 20.81% 22.06%
Profit (Net Income) Margin		 13.44% 45.10% 4.26% 15.50% 10.41% 14.92% 19.49% 17.45% 16.09% 18.03% 18.22%
Tax Burden Percent		 79.26% 245.90% 36.72% 78.03% 80.11% 73.97% 81.94% 76.58% 82.94% 83.06% 80.81%
Interest Burden Percent		 100.00% 100.00% 100.00% 101.62% 104.49% 103.62% 104.37% 103.83% 106.03% 104.35% 102.21%
Effective Tax Rate		 20.74% -145.90% 63.28% 21.97% 19.89% 26.03% 18.06% 23.42% 17.06% 16.94% 19.19%
Return on Invested Capital (ROIC)		 0.00% 0.00% 0.00% 0.00% 863.73% 160.13% 282.54% 275.71% 326.45% 185.83% 194.01%
ROIC Less NNEP Spread (ROIC-NNEP)		 0.00% 0.00% 0.00% 0.00% 862.80% 158.27% 280.49% 274.32% 324.12% 180.39% 192.38%
Return on Net Nonoperating Assets (RNNOA)		 0.00% 0.00% 0.00% 0.00% -782.16% -70.22% -171.16% -183.40% -217.46% -49.71% -76.70%
Return on Equity (ROE)		 137.84% 150.43% 129.84% 127.59% 81.57% 89.90% 111.38% 92.32% 108.99% 136.12% 117.31%
Cash Return on Invested Capital (CROIC)		 0.00% -42.91% 65.14% 16.45% 251.92% 125.21% 193.29% 298.36% 344.78% 162.59% 139.37%
Operating Return on Assets (OROA)		 11.70% 12.64% 7.80% 12.53% 8.20% 12.60% 14.77% 13.96% 12.56% 14.90% 15.64%
Return on Assets (ROA)		 9.28% 31.09% 2.87% 9.94% 6.86% 9.65% 12.63% 11.10% 11.05% 12.92% 12.92%
Return on Common Equity (ROCE)		 137.84% 150.43% 129.84% 127.59% 81.57% 89.90% 111.38% 92.32% 108.99% 136.12% 117.31%
Return on Equity Simple (ROE_SIMPLE)		 144.44% 122.71% 116.88% 0.00% 138.49% 89.87% 94.57% 0.00% 116.79% 129.04% 114.27%
Net Operating Profit after Tax (NOPAT)		 202 693 63 241 143 225 300 280 234 287 293
NOPAT Margin		 12.70% 41.70% 4.14% 15.25% 9.96% 14.40% 18.67% 16.80% 15.18% 17.28% 17.83%
Net Nonoperating Expense Percent (NNEP)		 0.88% 4.42% 0.16% 0.36% 0.92% 1.86% 2.05% 1.39% 2.33% 5.44% 1.63%
Return On Investment Capital (ROIC_SIMPLE)		 - - - - - - 8.86% - - - 9.79%
Cost of Revenue to Revenue		 34.30% 34.64% 34.40% 32.01% 30.45% 28.94% 28.33% 29.50% 28.75% 29.01% 30.23%
SG&A Expenses to Revenue		 4.52% 4.03% 3.87% 4.24% 5.17% 4.80% 5.04% 4.68% 4.87% 4.64% 4.51%
R&D to Revenue		 15.08% 14.61% 15.07% 15.37% 17.25% 16.77% 15.50% 16.25% 16.35% 15.50% 15.05%
Operating Expenses to Revenue		 49.69% 48.41% 54.33% 48.45% 57.12% 51.60% 48.88% 48.56% 52.95% 50.18% 47.71%
Earnings before Interest and Taxes (EBIT)		 270 305 177 309 178 304 366 366 282 345 362
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 328 364 242 375 242 368 429 430 345 408 426
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 22.81 12.01 12.37 11.29 18.40 19.11 17.94 1.82 27.95 27.41 25.75
Price to Tangible Book Value (P/TBV)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Price to Revenue (P/Rev)		 2.32 2.20 2.11 2.06 2.59 2.41 2.88 0.33 4.07 3.78 3.94
Price to Earnings (P/E)		 15.79 9.79 10.58 10.27 13.29 21.26 18.97 2.11 23.93 21.25 22.53
Dividend Yield		 2.95% 3.01% 3.16% 3.27% 2.64% 2.84% 2.31% 1.98% 1.60% 1.71% 1.63%
Earnings Yield		 6.33% 10.22% 9.45% 9.74% 7.53% 4.70% 5.27% 47.34% 4.18% 4.71% 4.44%
Enterprise Value to Invested Capital (EV/IC)		 0.00 24.81 36.91 25.95 53.75 26.78 36.97 4.28 83.08 36.54 34.82
Enterprise Value to Revenue (EV/Rev)		 2.20 2.11 1.99 1.95 2.50 2.37 2.80 0.20 3.97 3.74 3.90
Enterprise Value to EBITDA (EV/EBITDA)		 10.36 10.07 10.43 9.80 12.95 11.85 12.24 0.83 16.12 15.03 15.75
Enterprise Value to EBIT (EV/EBIT)		 12.20 11.98 12.85 12.18 16.45 15.04 14.96 1.01 19.22 17.82 18.71
Enterprise Value to NOPAT (EV/NOPAT)		 14.50 9.37 10.22 10.19 13.36 21.56 19.04 1.29 24.38 22.01 23.18
Enterprise Value to Operating Cash Flow (EV/OCF)		 11.35 11.83 10.04 11.20 12.10 12.07 13.24 0.73 16.11 15.70 17.56
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 56.66 157.73 21.34 21.09 21.91 1.07 24.79 24.75 30.42
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 4.01 1.99 2.17 2.06 2.74 3.11 2.41 2.09 2.58 2.23 2.00
Long-Term Debt to Equity		 3.63 1.99 2.17 2.06 2.74 2.59 2.00 1.74 1.34 1.39 1.25
Financial Leverage		 -1.97 -1.31 -1.17 -1.09 -0.91 -0.44 -0.61 -0.67 -0.67 -0.28 -0.40
Leverage Ratio		 13.58 9.69 9.68 9.94 12.30 9.56 9.10 8.55 10.31 10.88 9.23
Compound Leverage Factor		 13.58 9.69 9.68 10.10 12.85 9.91 9.50 8.88 10.93 11.35 9.43
Debt to Total Capital		 80.05% 66.51% 68.42% 67.33% 73.25% 75.64% 70.64% 67.61% 72.03% 69.08% 66.71%
Short-Term Debt to Total Capital		 7.59% 0.00% 0.00% 0.00% 0.00% 12.65% 11.82% 11.31% 34.59% 25.96% 25.09%
Long-Term Debt to Total Capital		 72.47% 66.51% 68.42% 67.33% 73.25% 62.99% 58.82% 56.30% 37.45% 43.12% 41.62%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 19.95% 33.49% 31.58% 32.67% 26.75% 24.36% 29.36% 32.39% 27.97% 30.92% 33.29%
Debt to EBITDA		 1.93 1.74 1.93 1.89 2.00 1.96 1.69 1.63 1.52 1.24 1.24
Net Debt to EBITDA		 -0.59 -0.47 -0.61 -0.54 -0.49 -0.19 -0.37 -0.59 -0.40 -0.14 -0.17
Long-Term Debt to EBITDA		 1.74 1.74 1.93 1.89 2.00 1.63 1.41 1.36 0.79 0.77 0.77
Debt to NOPAT		 2.70 1.62 1.89 1.96 2.06 3.56 2.63 2.52 2.30 1.81 1.82
Net Debt to NOPAT		 -0.82 -0.44 -0.60 -0.56 -0.51 -0.34 -0.58 -0.91 -0.60 -0.21 -0.24
Long-Term Debt to NOPAT		 2.44 1.62 1.89 1.96 2.06 2.96 2.19 2.10 1.20 1.13 1.14
Altman Z-Score		 1.95 2.00 1.86 1.84 2.00 1.88 2.16 1.02 2.62 2.60 2.74
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 1.38 1.36 1.34 1.35 1.28 1.07 1.15 1.19 0.96 0.91 0.93
Quick Ratio		 1.20 1.16 1.17 1.17 1.12 0.91 0.98 1.04 0.82 0.72 0.75
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -847 -1,018 -970 -897 -290 240 181 472 217 165 33
Operating Cash Flow to CapEx		 432.31% 277.92% 650.00% 602.56% 1,294.29% 355.26% 1,344.44% 1,332.61% 831.71% 233.33% 819.15%
Free Cash Flow to Firm to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.69 0.69 0.67 0.64 0.66 0.65 0.65 0.64 0.69 0.72 0.71
Accounts Receivable Turnover		 8.49 8.41 7.98 5.74 8.17 7.19 7.69 6.29 9.58 7.80 7.72
Inventory Turnover		 12.85 11.30 13.09 11.61 11.26 10.49 12.09 10.40 10.68 8.52 9.58
Fixed Asset Turnover		 11.17 10.82 10.40 10.16 9.82 9.50 9.70 10.00 10.33 10.65 11.09
Accounts Payable Turnover		 4.95 4.44 5.18 4.31 4.76 3.86 4.47 4.04 4.72 3.88 4.61
Days Sales Outstanding (DSO)		 42.99 43.39 45.76 63.60 44.67 50.76 47.48 58.06 38.12 46.80 47.25
Days Inventory Outstanding (DIO)		 28.40 32.31 27.89 31.45 32.43 34.81 30.20 35.11 34.18 42.82 38.08
Days Payable Outstanding (DPO)		 73.75 82.26 70.46 84.68 76.73 94.63 81.73 90.40 77.38 94.13 79.22
Cash Conversion Cycle (CCC)		 -2.36 -6.57 3.19 10.36 0.36 -9.06 -4.04 2.76 -5.08 -4.50 6.11
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 -145 556 349 478 288 541 468 286 305 663 728
Invested Capital Turnover		 -9.64 -21.87 -38.57 -69.91 86.74 11.12 15.13 16.41 21.51 10.75 10.88
Increase / (Decrease) in Invested Capital		 1,049 1,711 1,033 1,138 433 -15 119 -192 17 122 260
Enterprise Value (EV)		 14,187 13,793 12,880 12,403 15,479 14,486 17,303 1,223 25,338 24,224 25,350
Market Capitalization		 14,989 14,439 13,633 13,084 16,064 14,715 17,829 2,083 25,962 24,453 25,617
Book Value per Share		 $2.97 $5.53 $5.11 $5.42 $4.11 $3.69 $4.82 $55.53 $4.51 $4.36 $4.89
Tangible Book Value per Share		 ($10.59) ($8.19) ($8.64) ($8.33) ($9.66) ($10.25) ($9.24) ($84.17) ($9.43) ($9.59) ($8.74)
Total Capital		 3,294 3,589 3,490 3,548 3,263 3,161 3,385 3,538 3,322 2,885 2,989
Total Debt		 2,637 2,387 2,388 2,389 2,390 2,391 2,391 2,392 2,393 1,993 1,994
Total Long-Term Debt		 2,387 2,387 2,388 2,389 2,390 1,991 1,991 1,992 1,244 1,244 1,244
Net Debt		 -802 -646 -753 -681 -585 -229 -526 -860 -624 -229 -267
Capital Expenditures (CapEx)		 65 77 58 39 35 38 36 46 41 45 47
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -1,842 -1,825 -1,994 -1,857 -2,064 -1,960 -1,955 -2,061 -2,059 -1,851 -1,798
Debt-free Net Working Capital (DFNWC)		 1,597 1,208 1,147 1,213 911 660 962 1,191 958 371 463
Net Working Capital (NWC)		 1,347 1,208 1,147 1,213 911 260 562 791 -191 -378 -287
Net Nonoperating Expense (NNE)		 -12 -57 -1.84 -3.90 -6.41 -8.14 -13 -11 -14 -12 -6.46
Net Nonoperating Obligations (NNO)		 -802 -646 -753 -681 -585 -229 -526 -860 -624 -229 -267
Total Depreciation and Amortization (D&A)		 58 59 65 66 64 64 63 64 63 63 64
Debt-free, Cash-free Net Working Capital to Revenue		 -28.55% -27.87% -30.86% -29.19% -33.28% -32.13% -31.63% -32.88% -32.29% -28.60% -27.63%
Debt-free Net Working Capital to Revenue		 24.75% 18.45% 17.75% 19.07% 14.69% 10.82% 15.56% 19.00% 15.02% 5.73% 7.11%
Net Working Capital to Revenue		 20.88% 18.45% 17.75% 19.07% 14.69% 4.26% 9.09% 12.62% -3.00% -5.84% -4.41%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.97 $3.46 $0.30 $1.14 $0.70 $1.12 $1.52 $1.40 $1.20 $1.47 $1.47
Adjusted Weighted Average Basic Shares Outstanding		 220M 217M 216M 217M 212M 208M 206M 208M 206M 204M 204M
Adjusted Diluted Earnings per Share		 $0.96 $3.41 $0.30 $1.12 $0.69 $1.10 $1.48 $1.36 $1.17 $1.42 $1.44
Adjusted Weighted Average Diluted Shares Outstanding		 224M 220M 219M 220M 216M 211M 211M 213M 212M 210M 208M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 217.37M 215.57M 213.90M 212.43M 208.79M 206.03M 20.64M 205.80M 204.78M 203.31M 203.41M
Normalized Net Operating Profit after Tax (NOPAT)		 219 209 183 252 166 231 313 281 249 297 301
Normalized NOPAT Margin		 13.74% 12.54% 12.02% 15.94% 11.58% 14.77% 19.49% 16.85% 16.15% 17.93% 18.37%
Pre Tax Income Margin		 16.96% 18.34% 11.60% 19.86% 12.99% 20.17% 23.79% 22.78% 19.40% 21.71% 22.55%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
EBIT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 46.79% 29.83% 33.93% 33.91% 35.40% 61.13% 44.47% 42.19% 38.43% 36.49% 37.20%
Augmented Payout Ratio		 136.35% 89.15% 107.69% 100.63% 109.84% 212.86% 145.53% 133.47% 121.38% 114.68% 125.15%

Frequently Asked Questions About NetApp's Financials

When does NetApp's fiscal year end?

According to the most recent income statement we have on file, NetApp's financial year ends in April. Their financial year 2024 ended on April 26, 2024.

How has NetApp's net income changed over the last 9 years?

NetApp's net income appears to be on an upward trend, with a most recent value of $986 million in 2024, rising from $560 million in 2015. The previous period was $1.27 billion in 2023. See NetApp's forecast for analyst expectations on what’s next for the company.

What is NetApp's operating income?
NetApp's total operating income in 2024 was $1.21 billion, based on the following breakdown:
  • Total Gross Profit: $4.43 billion
  • Total Operating Expenses: $3.22 billion
How has NetApp revenue changed over the last 9 years?

Over the last 9 years, NetApp's total revenue changed from $6.12 billion in 2015 to $6.27 billion in 2024, a change of 2.4%.

How much debt does NetApp have?

NetApp's total liabilities were at $8.74 billion at the end of 2024, a 0.9% increase from 2023, and a 46.0% increase since 2015.

How much cash does NetApp have?

In the past 9 years, NetApp's cash and equivalents has ranged from $1.90 billion in 2024 to $4.53 billion in 2021, and is currently $1.90 billion as of their latest financial filing in 2024.

How has NetApp's book value per share changed over the last 9 years?

Over the last 9 years, NetApp's book value per share changed from 10.95 in 2015 to 55.53 in 2024, a change of 407.1%.


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This page (NASDAQ:NTAP) was last updated on 5/7/2025 by MarketBeat.com Staff
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