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NetApp (NTAP) | Financial Analysis & Statements

NetApp Inc. | Large-cap | Technology

$110.52

2.54%

NetApp vs Arista Networks NetApp vs Dell Technologies NetApp vs Seagate Technology NetApp vs Western Digital NetApp vs Super Micro NetApp vs S&P 500 | Market

TL;DR Income Statement Balance Sheet Cash Flow Key Ratios Peer Comparison

TL;DR: Financial Overview - Revenue, Profits & Key Metrics

Latest Quarterly: Apr 2025

Income Metrics

Revenue 1.7B

Gross Profit 1.2B 68.88%

Operating Income 394.0M 22.75%

Net Income 340.0M 19.63%

Balance Sheet Metrics

Total Assets 10.8B

Total Liabilities 9.8B

Shareholders Equity 1.0B

Debt to Equity 9.41

Cash Flow Metrics

Operating Cash Flow 642.0M

Free Cash Flow 640.0M

Revenue & Profitability Trend

Interactive Financial Charts Not Available

This page uses interactive financial charts and dynamic data visualization tools that require JavaScript. For detailed financial analysis:

Available Financial Data:

Income statements (annual and quarterly)
Balance sheets with asset and liability details
Cash flow statements and free cash flow analysis
Key financial ratios and performance metrics
Peer comparison and industry benchmarking

All financial data is displayed in accessible table format below. Use the table headers and structure to analyze trends and compare metrics across different periods.

NetApp Income Statement From 2021 to 2025

Metric	2025	2024	2023	2022	2021
Revenue i	6.6B	6.3B	6.4B	6.3B	5.7B
Cost of Goods Sold i	2.0B	1.8B	2.2B	2.1B	1.9B
Gross Profit i	4.6B	4.4B	4.2B	4.2B	3.8B
Gross Margin % i	70.2%	70.7%	66.2%	66.8%	66.4%
Operating Expenses
Research & Development i	1.0B	1.0B	956.0M	881.0M	881.0M
Selling, General & Administrative i	2.2B	2.1B	2.1B	2.1B	2.0B
Other Operating Expenses i	-	-	-	-	-
Total Operating Expenses i	3.2B	3.2B	3.0B	3.0B	2.9B
Operating Income i	1.4B	1.3B	1.2B	1.2B	933.0M
Operating Margin % i	21.7%	20.2%	18.2%	19.0%	16.2%
Non-Operating Items
Interest Income i	112.0M	112.0M	69.0M	7.0M	9.0M
Interest Expense i	64.0M	64.0M	67.0M	73.0M	74.0M
Other Non-Operating Income	-90.0M	-53.0M	-95.0M	-42.0M	94.0M
Pre-tax Income i	1.4B	1.3B	1.1B	1.1B	962.0M
Income Tax i	197.0M	277.0M	-208.0M	158.0M	232.0M
Effective Tax Rate % i	14.2%	21.9%	-19.5%	14.4%	24.1%
Net Income i	1.2B	986.0M	1.3B	937.0M	730.0M
Net Margin % i	18.0%	15.7%	20.0%	14.8%	12.7%
Key Metrics
EBITDA i	1.8B	1.6B	1.5B	1.4B	1.1B
EPS (Basic) i	$5.81	$4.74	$5.87	$4.20	$3.29
EPS (Diluted) i	$5.67	$4.63	$5.79	$4.09	$3.23
Basic Shares Outstanding i	204000000	208000000	217000000	223000000	222000000
Diluted Shares Outstanding i	204000000	208000000	217000000	223000000	222000000

Income Statement Trend

NetApp Balance Sheet From 2021 to 2025

Metric	2025	2024	2023	2022	2021
Assets
Current Assets
Cash & Equivalents i	2.7B	1.9B	2.3B	4.1B	4.5B
Short-term Investments i	1.1B	1.3B	754.0M	22.0M	67.0M
Accounts Receivable i	1.2B	1.0B	987.0M	1.2B	945.0M
Inventory i	186.0M	186.0M	167.0M	204.0M	114.0M
Other Current Assets	573.0M	452.0M	456.0M	377.0M	346.0M
Total Current Assets i	5.9B	4.9B	4.7B	5.9B	6.0B
Non-Current Assets
Property, Plant & Equipment i	241.0M	247.0M	281.0M	294.0M	114.0M
Goodwill i	5.5B	5.6B	5.7B	4.8B	4.2B
Intangible Assets i	43.0M	124.0M	181.0M	142.0M	101.0M
Long-term Investments	-	-	-	-	-
Other Non-Current Assets	1.3B	1.3B	1.3B	697.0M	580.0M
Total Non-Current Assets i	5.0B	5.0B	5.1B	4.1B	3.4B
Total Assets i	10.8B	9.9B	9.8B	10.0B	9.4B
Liabilities
Current Liabilities
Accounts Payable i	511.0M	517.0M	392.0M	607.0M	420.0M
Short-term Debt i	790.0M	440.0M	47.0M	297.0M	49.0M
Current Portion of Long-term Debt	-	-	-	-	-
Other Current Liabilities	551.0M	417.0M	430.0M	399.0M	395.0M
Total Current Liabilities i	4.7B	4.1B	3.5B	4.0B	3.5B
Non-Current Liabilities
Long-term Debt i	2.7B	2.2B	2.6B	2.6B	2.7B
Deferred Tax Liabilities i	45.0M	153.0M	-	-	-
Other Non-Current Liabilities	109.0M	103.0M	237.0M	219.0M	217.0M
Total Non-Current Liabilities i	5.1B	4.6B	5.2B	5.2B	5.2B
Total Liabilities i	9.8B	8.7B	8.7B	9.2B	8.7B
Equity
Common Stock i	1.1B	997.0M	945.0M	760.0M	504.0M
Retained Earnings i	0	208.0M	265.0M	122.0M	211.0M
Treasury Stock i	-	-	-	-	-
Other Equity	-	-	-	-	-
Total Shareholders Equity i	1.0B	1.1B	1.2B	838.0M	685.0M
Key Metrics
Total Debt i	3.5B	2.7B	2.7B	2.9B	2.8B
Working Capital i	1.2B	791.0M	1.2B	2.0B	2.5B

Balance Sheet Composition

NetApp Cash Flow Statement From 2021 to 2025

Metric	2025	2024	2023	2022	2021
Operating Activities
Net Income i	1.2B	986.0M	1.3B	937.0M	730.0M
Depreciation & Amortization i	243.0M	255.0M	248.0M	194.0M	207.0M
Stock-Based Compensation i	386.0M	357.0M	312.0M	245.0M	197.0M
Working Capital Changes i	-105.0M	-5.0M	73.0M	134.0M	208.0M
Operating Cash Flow i	1.7B	1.7B	1.3B	1.4B	1.4B
Investing Activities
Capital Expenditures i	-168.0M	-155.0M	-239.0M	-226.0M	209.0M
Acquisitions i	0	0	-491.0M	-380.0M	-350.0M
Investment Purchases i	-1.8B	-2.6B	-1.3B	-18.0M	-5.0M
Investment Sales i	2.0B	2.1B	550.0M	63.0M	165.0M
Investing Cash Flow i	147.0M	-735.0M	-1.4B	-561.0M	21.0M
Financing Activities
Share Repurchases i	-1.2B	-900.0M	-850.0M	-600.0M	-125.0M
Dividends Paid i	-424.0M	-416.0M	-432.0M	-446.0M	-427.0M
Debt Issuance i	1.2B	-	0	0	2.1B
Debt Repayment i	-400.0M	0	-250.0M	0	-1.1B
Financing Cash Flow i	-936.0M	-1.4B	-1.6B	-1.1B	-74.0M
Free Cash Flow i	1.3B	1.5B	868.0M	985.0M	1.2B
Net Change in Cash i	862.0M	-501.0M	-1.7B	-316.0M	1.4B

Cash Flow Trend

NetApp Key Financial Ratios

Valuation Ratios

P/E Ratio (TTM) 19.49

Forward P/E 14.58

Price to Book 21.36

Price to Sales 3.36

PEG Ratio 14.58

Profitability Ratios

Profit Margin 18.05%

Operating Margin 22.75%

Return on Equity 108.51%

Return on Assets 8.60%

Financial Health

Current Ratio 1.26

Debt to Equity 335.67

Beta 1.44

Per Share Data

EPS (TTM) $5.67

Book Value per Share $5.17

Revenue per Share $32.22

Peer Financial Comparison

Company	Market Cap	P/E Ratio	P/B Ratio	ROE	Profit Margin	Debt/Equity
ntap	22.1B	19.49	21.36	108.51%	18.05%	335.67
Arista Networks	165.9B	51.78	15.28	33.64%	40.90%	0.00
Dell Technologies	86.5B	20.04	-29.94	-331.07%	4.72%	-9.80
Seagate Technology	32.9B	22.84	-74.51	-324.28%	16.15%	-11.86
Western Digital	26.3B	17.05	4.93	19.81%	19.84%	0.85
Super Micro	25.3B	25.18	4.01	17.90%	4.77%	80.68

Financial data is updated regularly. All figures are in the company's reporting currency.