NTAP Stock Analysis: NetApp | NASDAQ
Software - Infrastructure | NASDAQ, USA | Market Cap: 38.742m USD | 12M Return: 84.7% | US64110D1046 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 479M
EPS Trend: 87.7%
Qual. Beats: 2
Rev. Trend: 93.9%
Qual. Beats: 2
Warnings
Tailwinds
Seasonality 11.7 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
NetApp, Inc. (NASDAQ: NTAP) is a global provider of enterprise software, systems, and services focused on data infrastructure and storage solutions. Headquartered in San Jose, California, and incorporated in 1992, the company operates through two reportable segments: Hybrid Cloud and Public Cloud, serving customers across the Americas, Europe, the Middle East, Africa, and Asia Pacific.
The companys product portfolio spans data management software (including the ONTAP operating system and related data protection tools such as SnapCenter, SnapMirror, and SnapLock), storage infrastructure hardware (such as the AFF, ASA, FAS, and StorageGRID product lines), and integrated cloud storage offerings delivered through partnerships with major hyperscalers, including Azure NetApp Files, Amazon FSx for NetApp ONTAP, and Google Cloud NetApp Volumes. NetApp also generates recurring revenue through operational, professional, and support services, including storage-as-a-service (STaaS) and managed services.
NetApp serves a diverse set of industries, including energy, financial services, government, healthcare, manufacturing, media, and telecommunications, through a direct sales force and a partner ecosystem that includes the major cloud providers. The company maintains a strategic alliance with Commvault Systems to deliver integrated enterprise data protection and cyber resilience solutions. As a large-cap company classified within the Information Technology sector (specifically Technology Hardware, Storage & Peripherals), NetApp sits at the intersection of traditional enterprise storage hardware and the growing hybrid multicloud market, with ransomware protection, backup, and disaster recovery increasingly central to its value proposition.
- Public Cloud segment revenue accelerates on hyperscaler partnerships
- All-flash array mix drives gross margin expansion
- Enterprise AI workloads boost hybrid cloud storage demand
| Net Income: 1.42b TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.15 > 0.02 and ΔFCF/TA -2.07 > 1.0 |
| NWC/Revenue: 14.94% < 20% (prev 16.97%; Δ -2.03% < -1%) |
| CFO/TA 0.17 > 3% & CFO 1.90b > Net Income 1.42b |
| Net Debt (-996.0m) to EBITDA (2.15b): -0.46 < 3 |
| Current Ratio: 1.24 > 1.5 & < 3 |
| Outstanding Shares: last quarter (200.0m) vs 12m ago -1.48% < -2% |
| Gross Margin: 70.63% > 18% (prev 70.0%; Δ 0.63% > 0.5%) |
| Asset Turnover: 71.64% > 50% (prev 68.09%; Δ 3.55% > 0%) |
| Interest Coverage Ratio: 18.03 > 6 (EBIT TTM 1.97b / Interest Expense TTM 109.0m) |
| A: 0.10 (Total Current Assets 5.67b - Total Current Liabilities 4.57b) / Total Assets 11.0b |
| B: 0.02 (Retained Earnings 235.0m / Total Assets 11.0b) |
| C: 0.19 (EBIT TTM 1.97b / Avg Total Assets 10.3b) |
| D: 0.16 (Book Value of Equity 1.50b / Total Liabilities 9.46b) |
| Altman-Z'' = 2.18 = BBB |
| DSRI: 1.09 (Receivables 966.0m/787.0m, Revenue 7.39b/6.59b) |
| GMI: 0.99 (GM 70.0% / 70.63%) |
| AQI: 0.98 (AQ_t 0.42 / AQ_t-1 0.43) |
| SGI: 1.12 (Revenue 7.39b / 6.59b) |
| TATA: -0.04 (NI 1.42b - CFO 1.90b) / TA 11.0b) |
| Beneish M = -2.89 (Cap -4..+1) = A |
As of October 02, 2026, the stock is trading at USD 215.05 with a total of 2,347,686 shares traded. Over the past week, the price has changed by +9.03%, over one month by +17.41%, over three months by +37.94% and over the past year by +84.65%.
Current recommended Stop Loss: 205.80 (which is 4.3% or 1.2 ATR below the current price).
NetApp has received a consensus analysts rating of 3.60. Therefore, it is recommended to hold NTAP.
- StrongBuy: 6
- Buy: 2
- Hold: 11
- Sell: 0
- StrongSell: 1
| Analysts Target Price | 197 | -8.4% |
P/E Trailing = 27.7022
P/E Forward = 21.3675
P/S = 5.2417
P/B = 25.3453
P/EG = 2.1387
Revenue TTM = 7.39b USD
EBIT TTM = 1.97b USD
EBITDA TTM = 2.15b USD
Long Term Debt = 1.94b USD (from longTermDebt, last quarter)
Short Term Debt = 596.0m USD (from shortTermDebt, last quarter)
Debt = 2.58b USD (from shortLongTermDebtTotal, last quarter) + Leases 46.0m
Net Debt = -996.0m USD (calculated: Debt 2.58b - CCE 3.58b)
Enterprise Value = 37.7b USD (38.7b + Debt 2.58b - CCE 3.58b)
Interest Coverage Ratio = 18.03 (Ebit TTM 1.97b / Interest Expense TTM 109.0m)
EV/FCF = 22.88x (Enterprise Value 37.7b / FCF TTM 1.65b)
FCF Yield = 4.37% (FCF TTM 1.65b / Enterprise Value 37.7b)
FCF Margin = 22.32% (FCF TTM 1.65b / Revenue TTM 7.39b)
Net Margin = 19.19% (Net Income TTM 1.42b / Revenue TTM 7.39b)
Gross Margin = 70.63% ((Revenue TTM 7.39b - Cost of Revenue TTM 2.17b) / Revenue TTM)
Gross Margin QoQ = 70.07% (prev 70.07%)
Tobins Q-Ratio = 3.45 (Enterprise Value 37.7b / Total Assets 11.0b)
Interest Expense / Debt = 4.22% (Interest Expense 109.0m / Debt 2.58b)
Taxrate = 22.43% (410.0m / 1.83b)
NOPAT = 1.52b (EBIT 1.97b * (1 - 22.43%))
Current Ratio = 1.24 (Total Current Assets 5.67b / Total Current Liabilities 4.57b)
Debt / Equity = 1.73 (Debt 2.58b / totalStockholderEquity, last quarter 1.50b)
Debt / EBITDA = -0.46 (Net Debt -996.0m / EBITDA 2.15b)
Debt / FCF = -0.60 (Net Debt -996.0m / FCF TTM 1.65b)
Total Stockholder Equity = 1.25b (last 4 quarters mean from totalStockholderEquity)
RoA = 13.74% (Net Income 1.42b / Total Assets 11.0b)
RoE = 113.7% (Net Income TTM 1.42b / Total Stockholder Equity 1.25b)
RoCE = 61.69% (EBIT 1.97b / Capital Employed (Equity 1.25b + L.T.Debt 1.94b))
RoIC = 23.05% (NOPAT 1.52b / Invested Capital 6.61b)
WACC = 9.95% (E(38.7b)/V(41.3b) * Re(10.39%) + D(2.58b)/V(41.3b) * Rd(4.22%) * (1-Tc(0.22)))
Discount Rate = 10.39% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -97.66 | Cagr: -2.56%
[DCF] Terminal Value 69.97% ; FCFF base≈1.65b ; Y1≈1.65b ; Y5≈1.74b
[DCF] Fair Price = 113.4 (EV 21.3b - Net Debt -996.0m = Equity 22.3b / Shares 196.4m; r=9.95% [WACC]; 5y FCF grow -0.48% → 2.50% )
EPS Correlation: 87.70 | EPS CAGR: 9.23% | SUE: 4.0 | # QB: 2
Revenue Correlation: 93.92 | Revenue CAGR: 5.57% | SUE: 4.0 | # QB: 2
EPS current Quarter (2026-10-31): EPS=2.60 | Chg30d=+21.00% | Revisions=+82% | Analysts=18
EPS next Quarter (2027-01-31): EPS=2.37 | Chg30d=+5.25% | Revisions=+82% | Analysts=18
EPS current Year (2027-04-30): EPS=10.01 | Chg30d=+11.51% | Revisions=+83% | GrowthEPS=+23.1% | GrowthRev=+18.1%
EPS next Year (2028-04-30): EPS=11.12 | Chg30d=+11.65% | Revisions=+82% | GrowthEPS=+11.2% | GrowthRev=+5.8%
[Analyst] Revisions Ratio: +95% (up=57, down=0)