NetApp (NTAP) Financials

$82.28 -1.00 (-1.20%)

As of 03:27 PM Eastern

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

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

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

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

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

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

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

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

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

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

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

Frequently Asked Questions About NetApp's Financials

When does NetApp's fiscal year end?

According to the most recent income statement we have on file, NetApp's financial year ends in April. Their financial 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.

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 4/15/2025 by MarketBeat.com Staff

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NetApp (NTAP) Financials

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NetApp (NTAP) Financials

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