NetApp Inc is storage hardware provider into a software-driven, cloud-centric data infrastructure company.
It is a $46.7B technology company. Revenue shrank 10.8% over the last year, it keeps 18¢ of every dollar of sales as profit, and it holds more cash than debt. It trades at 32.8× earnings — near the highest of its own history.
- Website
- netapp.com
- Location
- San Jose, CA
- Employees
- 11 700
- Sector
- Technology
- Founded
- 1992
Skills
Six independent scores, 0–100, built from reported numbers and valuation history. Click a row to see how it was scored.
Strong profitability, health, quality and moat; Valuation and Growth lag behind.
Valuation44
- P/E vs own history95th pct · 0/25
- FCF yield7.8% · 20/25
- P/S6.3x · 12/25
- EV/EBITDA23.4x · 12/25
Growth43
- Revenue CAGR2.3% · 6/25
- Net income CAGR8.0% · 12/25
- EPS CAGR ~5Y-27.9% · 0/25
- Fwd implied growth77.6% · 25/25
Profitability95
- ROIC82.8% · 25/25
- ROE113.7% · 25/25
- Net margin18.2% · 20/25
- Operating margin25.0% · 25/25
Health87
- Altman Z3.45 · 25/25
- Current ratio1.24 · 12/25
- Interest coverage17.6x · 25/25
- Net cash / debtNet cash · 25/25
Quality95
- Piotroski F8/9 · 25/25
- Beneish M-7.11 · 25/25
- FCF conversion146% · 25/25
- Margin stabilityσ 5.2% · 20/25
Moat87
- ROIC >12% years3/3 yrs · 25/25
- Median gross margin67.1% · 25/25
- FCF-positive years12/12 yrs · 25/25
- Worst-year net marginworst 0.1% · 12/25
Experience
The company's career so far — founding, the IPO, landmark products and acquisitions, plus revenue milestones and insider buying.
- FY2023FinancialBest year on record$3.48B net income
- FY2017FinancialRevenue crossed $10B$12.9B for the year
- FY2016FinancialProfitable every year on record12 consecutive profitable years in our data
- FY2016FinancialRevenue already above $1B$6.90B in first reported year
- FY2016FinancialPositive free cash flow every year since12-year streak
- 1992FoundedFounded in 1992 with an initial public offering in 1995, NetApp offers cloud data services for management of…
Achievements
Verifiable track record, straight from the reported numbers.
Strengths & watch-outs
What a bull and a bear would each point to. Both lists come from the reported numbers, not opinions.
Strengths
- High gross margin (70.6%)
- Strong cash conversion — FCF is 22.8% of revenue
- Net cash position after subtracting debt from cash
- Interest covered 17.6× by operating earnings
- High returns on invested capital (ROIC 82.8%)
Watch-outs
- Revenue shrinking 10.8% year over year
Qualifications
The basics a company should meet before you research it further. Each check uses the reported numbers.
- Revenue growing — the company sells more than a year ago-10.8% YoY
- Profitable — makes more than it spends$2.90B TTM
- Profit growing — earnings are higher than last year+3.1% YoY
- Generates cash — cash left after running and investing$3.64B TTM
- Debt under control — could handle its obligationsmore cash than debt
- Established company — not a micro-cap — lower blow-up risk$46.7B market cap
- Not printing shares — share count not ballooning — you keep your slice-14.4% shares over ~5y
- Proven track record — years of profitability behind it12/12 profitable years
- Financially stable — balance sheet not near distressAltman Z 3.5 — safe
- Pays a dividend — returns cash to shareholdersyield 0.88%
- Valuation not extreme — price not wildly above earningsP/E 32.8
Peer comparisonNetApp, Inc vs 6 largest technology peers — cap, P/E, growth and margin side by sideOpen ▾Close ▴
| Company | Market cap | P/E | Revenue growth | Net margin | Profile |
|---|---|---|---|---|---|
| NTAP this company | $46.7B | 32.8 | -10.8% | 18.2% | Strong |
| NVDA Nvidia Corp | $5.5T | 28.6 | +83.4% | 63.7% | Mixed |
| AAPL Apple Inc. | $4.9T | 38.1 | +14.2% | 27.6% | Strong |
| GOOGL Alphabet Inc. | $4.3T | 17.6 | +20.1% | 54.8% | Mixed |
| MSFT Microsoft Corp | $4.0T | 29.7 | +17.8% | 40.3% | Strong |
| SPCX Space Exploration Technologies Corp. | $2.1T | — | +33.2% | -34.0% | Strained |
| META Meta Platforms, Inc. | $1.8T | 26.9 | +27.7% | 29.8% | Mixed |
Head-to-head: NTAP vs NVDA · NTAP vs AAPL · NTAP vs GOOGL
References
What covering analysts publish about the company — information only, not a recommendation.
Appendix · Financial records
The full statements behind this CV, FY2016–FY2027. For readers who want to check the numbers.
Live data and quarterly detail: stockcv.com/NTAP
Want the live picture — intraday moves, valuation history and full analysis?
Deeper analysis of NTAP on PreMarketPriceFigures are derived from company filings (quarterly values normalised from as-filed year-to-date data where applicable) and may be delayed, restated or incomplete. This page is information, not investment advice. Latest price $237.68 · market cap $46.7B.