MARKETS / NASDAQ / NTAP

NASDAQ · COMPUTER STORAGE DEVICES · LARGE CAP

NetApp, Inc. NTAP

18 fiscal years on record · USD · FY2025 reported · SEC filings only

Revenue

$6.9B

▲ 5.4% YoY

Net income

$1.3B

▲ 7.6% YoY

Free cash flow

$1.9B

▲ 39.7% YoY

In brief

What this company does

NetApp, Inc., headquartered in San Jose, California, is a software-driven, cloud-centric data infrastructure company that has transformed from its origins as a storage hardware provider. As of April 24, 2026, it had approximately 11,700 employees worldwide. As of the same date, its worldwide sales and marketing functions consisted of approximately 5,000 managers, sales representatives and technical support personnel, and it had offices in over 20 countries. Sales to two of its major customers accounted for 43% of net revenues in fiscal 2026. NetApp's operations are organized into two segments, Hybrid Cloud and Public Cloud. Hybrid Cloud includes software, hardware and related support, along with professional and other services. Public Cloud offers a portfolio of products delivered primarily as-a-service, including related support, comprising cloud storage, data services and operational services. NetApp, Inc. was founded in 1992.

Written from the business description in NetApp, Inc.'s annual report to the U.S. Securities and Exchange Commission, filed 5 June 2026. Every sentence was checked against that document before publication.

Growth

USD 6.9B

Revenue, FY2025 · full 18-year series below

Revenue $B Net income $B

FY2025 · Revenue 6.9 · Net income 1.3

Compound annual growth

Revenue

+2.9%

+3.8%

+2.2%

+2.0%

Net income

+0.1%

+11.8%

+18.7%

+4.4%

EPS, diluted

+3.1%

+14.5%

+23.5%

+9.1%

Dividend / share

+1.3%

+1.6%

+11.2%

Returned to shareholders

+2.1%

+20.2%

+1.8%

3 yrs

5 yrs

10 yrs

15 yrs

Revenue compounded at +3.8% a year over five years — but profit grew faster: net income at +11.8%, earnings per share at +14.5%.

The share count fell from 0.22B to 0.20B — the buyback concentrates the same profit into fewer slices.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability

18 cents

of every revenue dollar became profit

Operating margin Net margin

FY2025 · Operating 24.2% · Net 18.4%

ROE

FY2025 · ROE 106.7%

Gross margin70.7%

Operating margin24.2%

Net margin18.4%

Return on assets11.8%

EBITDAUSD 1.9B

Each USD of equity produced 107 cents of profit this year.

Cash & shareholders

USD 1.4B

returned in FY2025 · dividends + net buybacks

Free cash flow $B

FY2025 · FCF 1.9

Net buybacks $B Dividends $B

FY2025 · Dividends 0.4 · Net buybacks 0.9

Dividends paidUSD 413.0M

Net buybacksUSD 950.0M

Share of profit106.8%

Consecutive raises—

USD 413.0M in dividends and USD 950.0M in buybacks — 107% of the year's profit, so the payout drew on cash built up earlier.

Total assetsUSD 10.7B

EquityUSD 1.4B

CashUSD 2.1B

Gross debtUSD 2.5B

Net debtUSD 417.0M

Current ratio1.44×

Net debt stands at 31% of equity.

The 18-year record

18 fiscal years

Every figure from documents filed with the SEC · USD

row low → row highnegative

Metric	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008
Revenue $B	6.9	6.6	6.3	6.4	6.3	5.7	5.4	6.1	5.9	5.5	5.5	6.1	6.3	6.3	6.2	5.1	3.9	3.4
Operating income $B	1.7	1.3	1.2	1.0	1.2	1.0	0.9	1.2	1.2	0.6	0.3	0.7	0.7	0.6	0.7	0.8	0.5	0.0
EBITDA $B	1.9	1.5	1.4	1.2	1.3	1.2	1.1	1.4	1.3	0.8	0.6	1.0	1.0	0.9	1.0	1.0	·	·
Income tax $B	0.4	0.2	0.3	−0.2	0.2	0.2	0.1	0.1	1.1	0.1	0.1	0.2	0.1	0.1	0.1	0.1	0.0	−0.1
Net income $B	1.3	1.2	1.0	1.3	0.9	0.7	0.8	1.2	0.1	0.5	0.2	0.6	0.6	0.5	0.6	0.7	0.4	0.1
Free cash flow $B	1.9	1.3	1.5	0.9	1.0	1.2	0.9	1.2	1.3	0.8	0.8	1.1	1.1	1.1	1.1	1.1	0.8	0.6
EPS, diluted $	6.35	5.67	4.63	5.79	4.09	3.23	3.52	4.51	0.42	1.71	0.77	1.75	1.83	1.37	1.58	1.71	1.13	0.19
Dividend / sh $	2.08	2.08	2.00	2.00	2.00	1.92	1.92	1.60	0.80	0.76	0.72	0.66	0.60	·	·	·	·	·
Payout %	32	36	42	34	48	58	54	34	184	43	92	37	32	0	0	·	·	·
ROE %	106.7	108.5	85.6	127.6	123.0	157.5	123.0	69.5	4.4	16.5	7.3	15.6	15.0	11.2	15.1	21.5	18.6	3.6
Shares out B	0.20	0.20	0.21	0.21	0.22	0.22	0.22	0.24	0.26	0.27	0.28	0.31	0.32	·	·	·	·	·

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

Provenance

Company facts, as filed

How we verify · 0 failures in 88 reconciliationsAUDITED

Reconciled in 18 of 19 fiscal years. 7 checks could not be computed.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquiditymoeda_consistente0 failures

ActivityComputer Storage Devices

Listed onNASDAQ

Incorporated inCalifornia

Fiscal year endsApril 30

Data on record since2008