01—Abstract
Summary
Summary of the 8-K filed May 28, 2026. Cited figures are marked; the original filing is the authoritative source.
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 billiona, 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 billionb 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 billionc, 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 billiond 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.
02—Key points
Key Highlights
- Q4 FY2026 net revenues of $1.95 billion, up 12% year-over-year; all-flash array net revenue of $1.2 billion, up 18%
- FY2026 net revenues of $6.93 billion, up 5%, with record gross profit, operating income, operating cash flow and free cash flow
- Q4 FY2026 GAAP diluted EPS of $2.03 (up 23%) and non-GAAP diluted EPS of $2.43 (up 26%)
- Fiscal 2027 guidance: net revenues of $7.325 billion to $7.575 billion; non-GAAP diluted EPS of $8.70 to $9.00
- Additional share repurchase authorization of up to $1.0 billion approved by the Board on May 21, 2026, with no expiration date
- Fiscal 2026 billings of $7.21 billion, up 6%, and $1.36 billion returned to stockholders through repurchases and dividends
- Quarterly cash dividend of $0.52 per share payable July 29, 2026, to holders of record as of July 10, 2026
03—Questions
Frequently Asked Questions
How did NetApp perform in the fourth quarter of fiscal 2026?
Net revenues were $1.95 billion, up 12% year-over-year. GAAP net income was $404 million, up 19%, and GAAP diluted EPS was $2.03, up 23%. Non-GAAP diluted EPS was $2.43, up 26%. Net cash from operating activities was $950 million, up 41%, and free cash flow was $900 million.
What is NetApp's revenue outlook for fiscal 2027?
For the full fiscal year 2027, NetApp expects net revenues of $7.325 billion to $7.575 billion, GAAP gross margin of 67.5% to 68.5%, and GAAP operating margin of 22.1% to 23.1%. GAAP diluted EPS is expected to be $6.51 to $6.81, and non-GAAP diluted EPS $8.70 to $9.00. For the first quarter of fiscal 2027, net revenues are expected to be $1.750 billion to $1.900 billion.
What did the Board authorize regarding share repurchases?
On May 21, 2026, the Board authorized the repurchase of up to an additional $1.0 billion of common stock, with no expiration date. Repurchases may be made through open market purchases, Rule 10b5-1 trading plans, privately negotiated transactions, accelerated repurchase plans, block purchases or other techniques. NetApp is not obligated to repurchase any specific number of shares and may discontinue purchases at any time.
What did NetApp return to shareholders in fiscal 2026?
NetApp returned $1.36 billion to stockholders through share repurchases and cash dividends in fiscal 2026. Its next cash dividend is $0.52 per share, payable July 29, 2026, to stockholders of record as of July 10, 2026.
04—Continue