Fundamental analysis · SEC EDGAR · as of 24/04/2026

Fundamental analysis of Netapp, Inc.

NTAP · Nasdaq · Technology

Fundamental quality

REASONABLE

73

out of 100

Breakdown by area

I.GrowthEPS growth: 3.1% · Revenue growth: -0.7%
32
II.ProfitabilityNet margin: 20.5% · ROE: 94.4%
91
III.Financial healthNet debt/EBITDA: 0.23x · FCF: 30%
95

Source: SEC EDGAR · as of 24/04/2026

The score combines growth, profitability and financial strength. Here its financial strength weighs in its favor, while its growth drags it down the most.

Strengths

  • High net margin (20.5%), a sign of a very profitable business.
  • High gross margin (78.5%), pointing to pricing power.
  • Strong return on equity (ROE of 94.4%).
  • Strong free-cash-flow generation (FCF margin of 30%).
  • Low leverage (net debt of 0.23× EBITDA).

Risks and weaknesses

  • Declining revenue (-0.7% annualized).

Historical evolution

YearRevenueNet incomeFree cash flowNet debt
2022$6,318M$937M$985M-$1,476M
2023$6,362M$1,274M$868M$73M
2024$5,657M$986M$1,530M$489M
2025$5,907M$1,186M$1,338M$493M
2026$6,237M$1,276M$1,869M$417M

Between 2022 and 2026, revenue went from $6,318M to $6,237M (-1%) and net income went from $937M to $1,276M (+36%).

Annual figures in U.S. dollars per SEC filings. Net debt is total debt minus cash.

Frequently asked questions

Is Netapp, Inc. a profitable company?

Yes. Netapp, Inc. shows a net margin of 20.5% and an ROE of 94.4%, a sign of a profitable business.

Does Netapp, Inc. have a lot of debt?

Not particularly. Its net debt is 0.23 times its EBITDA, a low level.

Is Netapp, Inc. growing?

Its revenue has fallen 0.7% annualized in recent years.

Does Netapp, Inc. generate cash?

Yes. It converts about 30% of its revenue into free cash flow.

The thresholds are general and the system doesn't judge qualitative factors. See the full methodology and use this analysis as a first filter, never as a final decision.

Is Netapp, Inc. cheap or expensive?

That depends on the current price. Look it up, enter it in the tool and get the full valuation verdict (P/E against its sector).

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