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NetApp (NTAP) Financials

$99.21 -0.46 (-0.46%)

Closing price 04:00 PM Eastern

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$94.25 -4.96 (-5.00%)

As of 06:21 PM Eastern

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

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

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

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

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

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

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

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

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

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

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

Frequently Asked Questions About NetApp's Financials

When does NetApp's financial year end?

According to the most recent income statement we have on file, NetApp's fiscal year ends in April. Their fiscal 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. Check out NetApp's forecast to explore projected trends and price targets.

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 5/29/2025 by MarketBeat.com Staff

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NetApp (NTAP) Financials

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NetApp (NTAP) Financials

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