Stocks · Technology · Computer Hardware
NetApp, Inc. NTAP
$226.27 +5.22% Close, Oct 2, 2026 · NASDAQ · Market cap $44.40B
High qualityStrong trend
Next earnings report: Dec 1, 2026
Scroll or pinch to zoom, drag to move. Daily prices adjusted for splits. Markers: E = earnings (green beat, red miss), S = split, D = dividend.
Three things to know
- At 31.9× trailing earnings, the shares trade at the highest P/E of the company's past five years.
- Over the past year the stock returned +90.9%, ahead of the S&P 500 by 75.9 percentage points.
- Earnings beat analyst estimates in each of the last 6 quarters (average surprise over the last four: +10.2%).
PromtFinance scores
Each score is a percentile within the Technology sector (0–100). Under each score: how the stock ranks in its sector on every component. As of Oct 5, 2026.
Growth55Neutral
How fast revenue, earnings and cash flow are growing.
- Revenue growth (TTM, YoY)Bottom 50%
- EPS growth (TTM, YoY)Top 41%
- FCF growth (TTM, YoY)Bottom 31%
- Revenue growth, 3-year CAGRBottom 39%
- Revenue growth accelerationTop 15%
Quality82Strong
Returns on capital, margins, earnings quality and balance-sheet strength.
- Return on invested capitalTop 9%
- Gross marginTop 26%
- Operating marginTop 10%
- Cash conversion (OCF / net income)Bottom 32%
- Accruals (lower is better)Bottom 36%
- Net debt / EBITDA (lower is better)Bottom 49%
- Interest coverTop 20%
Value47Neutral
How cheap the shares are relative to earnings, cash flow and their own history.
- Earnings yieldTop 28%
- Free-cash-flow yieldTop 43%
- EBITDA / enterprise valueTop 37%
- Sales / enterprise valueBottom 36%
- P/E vs own 5-year history (lower is better)Bottom 4%
Momentum95Exceptional
Strength and persistence of the price trend, including versus the S&P 500.
- 12-month return excluding last monthTop 20%
- 6-month returnTop 9%
- 1-year return vs S&P 500Top 16%
- Distance from 52-week highTop 6%
- Trend checklist (0–4)Top 18%
Revisions16Very weak
Earnings surprises and analyst sentiment (estimate-revision history is being collected).
- Average EPS surprise, last 4 quartersTop 45%
- Consecutive EPS beatsTop 32%
- Share of analysts rating BuyBottom 13%
- Upside to consensus price targetBottom 8%
Stability76Positive
Low volatility, shallow drawdowns, low market sensitivity and modest leverage.
- Volatility, 60 days (lower is better)Top 22%
- Maximum drawdown, 3 yearsTop 15%
- Beta vs S&P 500 (lower is better)Bottom 49%
- Net debt / EBITDA (lower is better)Bottom 49%
What changed
Latest four quarters versus the same period a year earlier (growth: versus one quarter earlier).
| Measure | Before | Now | |
|---|---|---|---|
| Revenue growth (YoY) | 5.4% | 12.2% | ↑ |
| EPS growth (YoY) | 12.0% | 25.3% | ↑ |
| Gross margin | 70.0% | 70.6% | ↑ |
| Operating margin | 20.7% | 25.7% | ↑ |
| FCF margin | 25.2% | 22.3% | ↓ |
Fundamental momentum
| Measure | Now (TTM) | Year / quarter before | Sector rank | |
|---|---|---|---|---|
| Revenue growth (TTM, YoY) | 12.2% | 5.4% | ↑ | Bottom 50% |
| EPS growth (TTM, YoY) | 25.3% | 12.0% | ↑ | Top 41% |
| Gross margin | 70.6% | 70.0% | ↑ | Top 26% |
| Operating margin | 25.7% | 20.7% | ↑ | Top 10% |
| Net margin | 19.2% | 17.8% | ↑ | — |
| Free-cash-flow margin | 22.3% | 25.2% | ↓ | — |
| Return on invested capital | 21.1% | — | Top 9% | |
| Revenue growth, 3-year CAGR | 2.9% | — | Bottom 39% |
Quality of earnings and balance sheet
- Cash conversion (OCF / net income)Above 1× means profits are backed by cash.
- 1.34×
- Accruals (net income − OCF) / assetsLower is better; high accruals can signal weaker earnings quality.
- -4.4%
- Stock-based compensation / revenueA cost to shareholders through dilution.
- 5.4%
- Receivables growth vs revenue growthReceivables growing much faster than sales can be a warning.
- +10.6 pp
- Net debt / EBITDABelow 1× is conservative; above 3× is high leverage.
- 0.45×
- Interest cover (operating income / interest)How many times operating profit covers interest.
- 17.4×
Shareholder returns
- Dividend yield (dividends paid, TTM)
- 0.93%
- Net buyback yield (TTM)
- 1.68%
- Shareholder yield
- 2.60%
- Share count change, 1 year
- -1.5%
- Share count change, 3-year CAGR
- -2.5%
Shareholder yield = dividends + net buybacks over the last four quarters, divided by market cap.
Based on the four quarters through Jul 31, 2026 (filed Sep 2, 2026).
Earnings and expectations
Earnings momentum
- Consecutive EPS beats
- 6
- Beats in the last 8 reports
- 7 of 8
- Average EPS surprise, last 4
- +10.2%
- Average 2-day reaction, last 8
- -0.3%
- Positive 20 days after report
- 6 of 8
Analysts
- Consensus price target
- $203.30
- Target vs current price
- -10.2%
- Analysts with a rating
- 71
- Share rating Buy or Strong Buy
- 37%
- Consensus rating
- Hold
How the stock reacted to recent reports
| Report date | EPS surprise | 2 days | 5 days | 20 days | 60 days |
|---|---|---|---|---|---|
| Sep 2, 2026 | +21.7% | -1.3% | +0.9% | +14.7% | — |
| May 28, 2026 | +7.0% | -0.2% | +26.9% | +8.3% | +34.7% |
| Feb 26, 2026 | +2.9% | -2.7% | -2.3% | +3.6% | +21.7% |
| Nov 25, 2025 | +9.0% | +2.3% | +6.3% | +0.8% | -7.7% |
| Aug 27, 2025 | +0.6% | +2.5% | +6.5% | +12.6% | -2.9% |
| May 29, 2025 | +1.6% | -0.5% | +4.1% | +5.1% | +10.9% |
| Feb 27, 2025 | +0.0% | -5.0% | -23.8% | -25.5% | -19.8% |
| Nov 21, 2024 | +5.1% | +2.6% | -0.8% | -5.6% | +0.9% |
Returns from the close before each report. Past reactions do not determine future ones.
Earnings history
| Report date | EPS | Estimate | Surprise | Revenue |
|---|---|---|---|---|
| Sep 2, 2026 | $2.58 | $2.12 | +21.7% | $2.02B |
| May 28, 2026 | $2.43 | $2.27 | +7.0% | $1.95B |
| Feb 26, 2026 | $2.12 | $2.06 | +2.9% | $1.71B |
| Nov 25, 2025 | $2.05 | $1.88 | +9.0% | $1.71B |
| Aug 27, 2025 | $1.55 | $1.54 | +0.6% | $1.56B |
| May 29, 2025 | $1.93 | $1.90 | +1.6% | $1.73B |
| Feb 27, 2025 | $1.91 | $1.91 | +0.0% | $1.64B |
| Nov 21, 2024 | $1.87 | $1.78 | +5.1% | $1.66B |
Valuation in context
| Multiple | Now | 5-year median | 5-year percentile | Sector rank (cheapness) |
|---|---|---|---|---|
| P/E (trailing) | 31.9× | 19.8× | 100th | Top 28% |
| P/E (forward) | 22.6× | — | — | — |
| EV / EBITDA | 21.1× | — | — | Top 37% |
| EV / Sales | 6.14× | — | — | Bottom 36% |
| Free-cash-flow yield | 3.72% | — | — | Top 43% |
| Earnings yield | 3.13% | — | — | Top 28% |
P/E over the past five years
Range 10.3× – 28.4× since Jul 30, 2021. Each point: price on the filing date divided by trailing-twelve-month EPS known then.
What moved the stock over the past year
- Price return, 1 year
- +90.9%
- Earnings per share growth (TTM)
- +25.3%
- Change in P/E multiple
- +28.7%
Most of the move came from a change in the valuation multiple.
Technical state
Trend checklist
- ✓ Price above 20-day average
- ✓ Price above 50-day average
- ✓ Price above 200-day average
- ✓ 50-day average above 200-day
- ✓ MACD histogram positive
Trend quality
- Days above the 50-day average
- 118
- Days above the 200-day average
- 108
- 50-day average slope (20 days)
- +8.0%
- 200-day average slope (20 days)
- +6.6%
- Distance from 50-day average
- +17.6%
- Distance from 200-day average
- +63.1%
- RSI (14)
- 75.9
- Relative volume
- 1.97×
Risk and drawdowns
- Volatility, 60 days (annualized)
- 43.1%
- Volatility vs own 5-year history
- 88th percentile · High for this stock
- Beta vs S&P 500 (2 years, weekly)
- 1.43
- Correlation with S&P 500
- 0.52
- Current drawdown from 1-year high
- +0.0%
- Maximum drawdown, 3 years
- -43.5%
Largest declines in the past six years
| From peak | To low | Decline | Length | Recovery |
|---|---|---|---|---|
| Jul 10, 2024 | Apr 4, 2025 | -43.5% | 185 days | 284 days (May 22, 2026) |
| Jan 13, 2022 | Dec 28, 2022 | -39.1% | 240 days | 294 days (Mar 1, 2024) |
| Jun 3, 2026 | Jun 26, 2026 | -15.8% | 16 days | 25 days (Aug 3, 2026) |
| Feb 24, 2021 | Mar 4, 2021 | -14.7% | 6 days | 16 days (Mar 26, 2021) |
| Aug 14, 2026 | Sep 2, 2026 | -12.7% | 13 days | 18 days (Sep 29, 2026) |
Declines of 10% or more from a closing high, measured on daily closes.
Financial statements
- Market cap
- $44.40B
- P/E (TTM)
- 31.9
- EPS, diluted (TTM)
- $7.09
- Revenue (TTM)
- $7.39B
- Dividend yield
- 0.92%
- 52-week range
- $93.69 – $231.90
| FY 2022 | FY 2023 | FY 2024 | FY 2025 | FY 2026 | |
|---|---|---|---|---|---|
| Revenue | $6.32B | $6.36B | $6.27B | $6.57B | $6.92B |
| Gross profit | $4.22B | $4.21B | $4.43B | $4.61B | $4.90B |
| Operating income | $1.16B | $1.02B | $1.21B | $1.34B | $1.70B |
| Net income | $937.0M | $1.27B | $986.0M | $1.19B | $1.28B |
| EPS (diluted) | $4.09 | $5.79 | $4.63 | $5.67 | $6.36 |
| Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | Q2 2026 | Q3 2026 | Q4 2026 | Q1 2027 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $1.66B | $1.64B | $1.73B | $1.56B | $1.71B | $1.71B | $1.95B | $2.02B |
| Net income | $299.0M | $299.0M | $340.0M | $233.0M | $305.0M | $334.0M | $404.0M | $375.0M |
| EPS (diluted) | $1.42 | $1.44 | $1.65 | $1.15 | $1.51 | $1.67 | $2.03 | $1.88 |
| FY 2022 | FY 2023 | FY 2024 | FY 2025 | FY 2026 | |
|---|---|---|---|---|---|
| Operating cash flow | $1.21B | $1.11B | $1.69B | $1.51B | $2.07B |
| Capital expenditure | -$226.0M | -$239.0M | -$155.0M | -$168.0M | -$198.0M |
| Free cash flow | $985.0M | $868.0M | $1.53B | $1.34B | $1.87B |
| Dividends paid | -$446.0M | -$432.0M | -$416.0M | -$424.0M | -$413.0M |
| Net share buybacks | -$600.0M | -$742.0M | -$900.0M | -$1.04B | -$901.0M |
Cash outflows are shown as negative numbers.
- Cash and short-term investments
- $3.58B
- Total assets
- $10.96B
- Total liabilities
- $9.46B
- Total debt
- $2.53B
- Net debt
- $961.0M
- Shareholders’ equity
- $1.50B
As of Jul 31, 2026 (filed Sep 2, 2026).
Dividends
| Ex-date | Amount | Paid |
|---|---|---|
| Oct 9, 2026 | $0.52 | Oct 28, 2026 |
| Jul 10, 2026 | $0.52 | Jul 29, 2026 |
| Apr 2, 2026 | $0.52 | Apr 22, 2026 |
| Jan 2, 2026 | $0.52 | Jan 21, 2026 |
| Oct 3, 2025 | $0.52 | Oct 22, 2025 |
| Jul 3, 2025 | $0.52 | Jul 23, 2025 |
| Apr 4, 2025 | $0.52 | Apr 23, 2025 |
| Jan 3, 2025 | $0.52 | Jan 22, 2025 |
Short interest
- Shares sold short
- 10,146,420
- Days to cover
- 3.64
- Change vs previous report
- -5.6%
FINRA short interest, settlement date Sep 15, 2026.
Stock splits
- Mar 23, 2000
- 2-for-1
- Dec 21, 1999
- 2-for-1
- Dec 22, 1998
- 2-for-1
- Dec 19, 1997
- 2-for-1