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NetAppNTAP

Legal name
NetApp, Inc.
Sector
Technology
Industry
Computer Storage Devices
Exchange
Nasdaq

Stock Price $NTAP

Latest filings

You are here#59 of 91 in Technology by market cap

Filing record · 2016–202610-K1110-Q328-K97

NTAP filed 11 annual reports (10-K), 32 quarterly reports (10-Q) and 97 current reports (8-K) between 2016 and 2026.

  1. Material agreement8-K · Dec ’16Dec ’16
  2. FY2019 annual report10-K · Jun ’19Jun ’19
  3. Leadership change8-K · Sep ’21Sep ’21
  4. Leadership change8-K · Sep ’25Sep ’25

01—Key figures

Source: 10-KFY2026
Source: 10-KFY2026
Source: 10-KFY2026
Source: 10-KFY2026

Revenue Trend

Year-over-year comparison from 10-K annual reports

  18. $6.92B
YoY changeLargest recent move−11.9%in FY20Latest +5.4%

2 older moves run past ±20% (largest +30.3%); point at, tap or drag across the bars to read one.

Latest bar from 10-KFY2026Click a bar to open its SEC filing

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All NTAP Financial Metrics64 metrics

Income Statement17

Balance Sheet27

Cash Flow15

Per Share5

02—Overview

NetApp Financial Overview 2022–2026

Updated Nov 4, 2026

NetApp grew diluted EPS 55% between FY2022 and FY2026, from $4.09 to $6.35a, on only about 10% revenue growth. That gap is the story. This is a margin-and-buyback compounder, not a top-line growth story, and the earnings leverage came from operating discipline and a shrinking share count.

Revenue rose from $6.32 billion in FY2022 to $6.93 billionb in FY2026, with a dip to $6.27 billion in FY2024 along the way. Operating income climbed to $1.67 billion in FY2026, a 24% margin versus 20% in FY2025. Gross margin held at 71%, even as memory and component costs rose. Operating cash flow reached $2.07 billion, up from $1.51 billion.

Cash went back to owners. In FY2026, NetApp spent $950 millionc on buybacks and $413 million on dividends. It also repaid a $750 million note, cutting principal debt to $2.5 billion from $3.25 billion. Cash and short-term investments ended at $3.58 billion.

The market priced the improvement. NetApp closed FY2025 at $88.45d, or 15.6x earnings. At the close of FY2026 it traded at $108.71, or 17.1x, for a $21.3 billion market cap. The risks are concrete: higher memory costs are pressuring margins, and two distributors account for 43% of revenue.

Recent Developments (Q4 2026 and Q1 2027)

Demand accelerated sharply in Q1 FY2027. Revenue rose 30% to $2.03 billione, led by all-flash revenue of $1.31 billion versus $893 million a year earlier. Non-GAAP EPS hit a record $2.58, up 66%. Management raised FY2027 guidance to $7.975 billion–$8.225 billion in revenue, from $7.325 billion–$7.575 billion set after Q4 2026, when revenue grew 12% to $1.95 billion. The extra week added about $65 million. NetApp took $56 million of restructuring charges and closed the $193 million DataPelago acquisition. Free cash flow fell 35% to $401 million.

Bulls see record earnings, higher guidance and price increases offsetting component costs. Bears see a stock at 28.5x earnings as of the September 1, 2026 quarterly report, not today, against 17.1x at fiscal year-end, plus weaker cash flow and $550 million of notes now current.

What to watch: gross margin as memory costs persist; free cash flow recovery after the inventory build

03—Filings

Recent SEC Filings

  1. 8-KNetApp 8-K Report, Rights Modification (Sep 11, 2026)NetApp, Inc. (NTAP) reported in an 8-K filed September 11, 2026 that its stockholders, at the 2026 annual meeting held September 9, 2026, approved an amended and restated certificate of incorporation providing for officer exculpation to the fullest extent permitted by the Delaware General Corporation Law. The Company filed the Amended and Restated Charter with the Delaware Secretary of State on September 10, 2026, and it became effective upon filing. The Board of Directors also adopted amended and restated bylaws effective September 9, 2026, as part of a periodic review of governance documents. Key changes include clarifying that the presiding officer's authority at stockholder meetings is subject to Board supervision, narrowing the definition of "Stockholder Associated Person," limiting indemnification for settlement amounts absent the Company's written consent, providing for subrogation rights on indemnification payments, updating board action by written consent, and allowing insurance for indemnification to be provided through a captive insurance company. At the meeting, all ten director nominees were elected to terms expiring at the next annual meeting. Stockholders also approved, on a nonbinding advisory basis, named executive officer compensation, ratified Deloitte & Touche LLP as the independent registered public accounting firm for the fiscal year ending April 30, 2027, and approved the Amended and Restated Charter. A stockholder proposal regarding action by written consent was not voted on because the proponent did not attend to present it.
  2. 8-KNetApp 8-K Report, Financial Results (Sep 2, 2026)NetApp, Inc. (NTAP) furnished a press release under Item 2.02 reporting results for the first quarter of fiscal year 2027, which ended July 31, 2026. Net revenues were $2.03 billion, up 30% year-over-year, with record all-flash array net revenue of $1.3 billion (up 47%) and Public Cloud net revenue of $206 million (up 28%). GAAP net income was $375 million, or $1.88 per diluted share (up 63%), and non-GAAP earnings per share were a record $2.58. Billings were $2.06 billion, up 36%. GAAP operating margin was 23.9% and non-GAAP operating margin was 31.9%. The company raised its full fiscal year 2027 guidance, now calling for net revenues of $7.975 billion to $8.225 billion, GAAP earnings per share of $7.35 to $7.65, and non-GAAP earnings per share of $9.73 to $10.03. For the second quarter, it guided to net revenues of $2.025 billion to $2.175 billion and non-GAAP earnings per share of $2.54 to $2.64. Cash flow was weaker than earnings: operating cash flow was $503 million, down 25%, and free cash flow was $401 million, down 35%. Restructuring charges were $56 million in the quarter, compared with $2 million a year earlier. The company also announced the acquisition of DataPelago, Inc., an AI data infrastructure company, and reported an $0.52 per share dividend payable October 28, 2026. Balance sheet data show cash, cash equivalents and investments of $3.58 billion and total debt of $2.49 billion ($550 million current plus $1.94 billion long-term) as of July 31, 2026.
  3. 8-KNetApp 8-K Report, Financial Results (May 28, 2026)NetApp, Inc. (NASDAQ: NTAP) furnished a press release reporting results for its fourth quarter and fiscal year 2026, which ended April 24, 2026. Fourth-quarter net revenues were $1.95 billion, up 12% year-over-year, and fiscal 2026 net revenues were $6.93 billion, up 5%. GAAP net income was $404 million ($2.03 diluted EPS) for the quarter and $1.28 billion ($6.35 diluted EPS) for the year. Non-GAAP diluted EPS was $2.43 for the quarter and $8.13 for the fiscal year. The company describes fiscal 2026 as a record year for net revenues, gross profit, operating income, operating cash flow and free cash flow. Operating cash flow was $2.07 billion and free cash flow was $1.87 billion for the year. Billings were $7.21 billion, up 6%. For fiscal 2027, NetApp guided to net revenues of $7.325 billion to $7.575 billion, GAAP diluted EPS of $6.51 to $6.81, and non-GAAP diluted EPS of $8.70 to $9.00. For the first quarter of fiscal 2027, guidance calls for net revenues of $1.750 billion to $1.900 billion and non-GAAP diluted EPS of $2.05 to $2.15. The company also reported that it returned $1.36 billion to stockholders through share repurchases and cash dividends during fiscal 2026. Separately, on May 21, 2026, the Board authorized an additional repurchase of up to $1.0 billion of common stock with no expiration date. The company will pay a quarterly cash dividend of $0.52 per share on July 29, 2026, to holders of record on July 10, 2026.
  4. 8-KNetApp 8-K Report, Financial Results (Feb 26, 2026)NetApp, Inc. (NASDAQ: NTAP) filed this Form 8-K on February 26, 2026 under Item 2.02 to furnish its press release reporting results for the third quarter of fiscal 2026, which ended January 23, 2026. Net revenues were $1.71 billion, up 4% year over year from $1.64 billion, with Hybrid Cloud segment revenue rising 5% to $1.54 billion and Public Cloud segment revenue flat at $174 million. GAAP net income was $334 million and GAAP diluted EPS was $1.67, compared with $1.44 a year earlier. On a non-GAAP basis, net income was $423 million and diluted EPS was $2.12, up 11% from $1.91. Billings grew 10% to $1.89 billion, the ninth consecutive quarter of year-over-year growth. Management cited a record quarter for all-flash array revenue of $1.0 billion, up 11% year over year. Cash provided by operations was $317 million, down 18% from $385 million, and free cash flow was $271 million versus $338 million a year earlier. The company returned $303 million to stockholders through share repurchases and cash dividends during the quarter. At January 23, 2026, cash, cash equivalents and investments totaled $3.01 billion against long-term debt of $2.49 billion. Constant-currency figures showed net revenues up 2% and billings up 8%, and foreign exchange added approximately $0.11 to both GAAP and non-GAAP EPS. For the fourth quarter of fiscal 2026, NetApp guided net revenues of $1.795 billion to $1.945 billion, GAAP EPS of $1.76 to $1.86, and non-GAAP EPS of $2.21 to $2.31. Full-year fiscal 2026 guidance calls for net revenues of $6.772 billion to $6.922 billion, GAAP EPS of $6.07 to $6.17, and non-GAAP EPS of $7.92 to $8.02. The company also declared a next quarterly cash dividend of $0.52 per share, payable April 22, 2026.
  5. 8-KNetApp 8-K Report, Executive Changes (Jan 12, 2026)NetApp, Inc. (NASDAQ: NTAP) filed a Current Report on Form 8-K on January 12, 2026 to disclose the appointment of Paul Fipps to its Board of Directors. On January 8, 2026, the Board increased the number of authorized directors from nine to ten and appointed Mr. Fipps to fill the resulting vacancy. The filing states he is President of Global Customer Operations at ServiceNow and will participate as a non-employee director in the company's existing director compensation program, as described in its July 25, 2025 definitive proxy statement. The filing states there are no arrangements or understandings under which Mr. Fipps was selected as a director, and no related party transactions requiring disclosure under Item 404(a) of Regulation S-K. He is expected to enter into the company's standard director indemnification agreement. The accompanying press release, furnished as Exhibit 99.1 under Item 7.01, states the board now has ten directors, nine of whom are independent, and that 50% of directors have been appointed within the last five years. The filing is primarily a governance update. It contains no financial results, guidance, or financial figures. Its main relevance for investors is the board refresh and the stated focus on AI-ready data and customer-led execution, as described by CEO George Kurian and Board Chair Mike Nevens in the press release.
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04—See also

Related Companies

Annual revenue over each company’s last eight fiscal years, each strip on its own scale from zero.