NTAP Stock Analysis: NetApp | NASDAQ
Software - Infrastructure | NASDAQ, USA | Market Cap: 38.850m USD | 12M Return: 69.5% | US64110D1046 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 459M
EPS Trend: 87.7%
Qual. Beats: 2
Rev. Trend: 93.9%
Qual. Beats: 2
Warnings
Tailwinds
Seasonality 11.7 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
NetApp, Inc. (NASDAQ: NTAP) is a US-based provider of enterprise software, systems, and services focused on data infrastructure and storage solutions, operating globally across the Americas, EMEA, and Asia Pacific. The company is organized into two reportable segments-Hybrid Cloud and Public Cloud-and offers a broad portfolio spanning data management software (notably the ONTAP platform), all-flash and hybrid storage hardware (AFF, ASA, and FAS product lines), and cloud storage services delivered through partnerships with major hyperscalers such as Microsoft Azure, Amazon Web Services, and Google Cloud. Beyond products, NetApp provides operational, professional, managed, and support services, including a storage-as-a-service (STaaS) offering, and serves a diverse customer base across industries such as financial services, government, healthcare, manufacturing, media, and telecommunications. The company maintains a strategic alliance with Commvault to deliver integrated enterprise data protection and cyber resilience solutions.
Within the Information Technology sector and the Technology Hardware, Storage & Peripherals sub-industry, NetApp sits in a market that has been progressively shifting from traditional on-premises storage arrays toward software-defined, hybrid, and multicloud architectures, where recurring software and cloud services revenue has become an increasingly important component of incumbents business models.
- All-flash storage demand rises on enterprise AI workloads
- Public Cloud segment growth accelerates with Azure NetApp Files scale
- Enterprise IT spending softness pressures Hybrid Cloud revenue
- Product gross margins expand on all-flash mix shift
| Net Income: 1.42b TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.15 > 0.02 and ΔFCF/TA -2.07 > 1.0 |
| NWC/Revenue: 14.94% < 20% (prev 16.97%; Δ -2.03% < -1%) |
| CFO/TA 0.17 > 3% & CFO 1.90b > Net Income 1.42b |
| Net Debt (-996.0m) to EBITDA (2.15b): -0.46 < 3 |
| Current Ratio: 1.24 > 1.5 & < 3 |
| Outstanding Shares: last quarter (200.0m) vs 12m ago -1.48% < -2% |
| Gross Margin: 70.63% > 18% (prev 70.0%; Δ 0.63% > 0.5%) |
| Asset Turnover: 71.64% > 50% (prev 68.09%; Δ 3.55% > 0%) |
| Interest Coverage Ratio: 18.03 > 6 (EBIT TTM 1.97b / Interest Expense TTM 109.0m) |
| A: 0.10 (Total Current Assets 5.67b - Total Current Liabilities 4.57b) / Total Assets 11.0b |
| B: 0.02 (Retained Earnings 235.0m / Total Assets 11.0b) |
| C: 0.19 (EBIT TTM 1.97b / Avg Total Assets 10.3b) |
| D: 0.16 (Book Value of Equity 1.50b / Total Liabilities 9.46b) |
| Altman-Z'' = 2.18 = BBB |
| DSRI: 1.09 (Receivables 966.0m/787.0m, Revenue 7.39b/6.59b) |
| GMI: 0.99 (GM 70.0% / 70.63%) |
| AQI: 0.98 (AQ_t 0.42 / AQ_t-1 0.43) |
| SGI: 1.12 (Revenue 7.39b / 6.59b) |
| TATA: -0.04 (NI 1.42b - CFO 1.90b) / TA 11.0b) |
| Beneish M = -2.89 (Cap -4..+1) = A |
As of September 27, 2026, the stock is trading at USD 201.15 with a total of 1,363,812 shares traded. Over the past week, the price has changed by +1.70%, over one month by +7.32%, over three months by +30.51% and over the past year by +69.45%.
Current recommended Stop Loss: 187.40 (which is 6.8% or 1.7 ATR below the current price).
NetApp has received a consensus analysts rating of 3.60. Therefore, it is recommended to hold NTAP.
- StrongBuy: 6
- Buy: 2
- Hold: 11
- Sell: 0
- StrongSell: 1
| Analysts Target Price | 197 | -2.1% |
P/E Trailing = 27.897
P/E Forward = 21.8341
P/S = 5.2564
P/B = 25.8721
P/EG = 2.1831
Revenue TTM = 7.39b USD
EBIT TTM = 1.97b USD
EBITDA TTM = 2.15b USD
Long Term Debt = 1.94b USD (from longTermDebt, last quarter)
Short Term Debt = 596.0m USD (from shortTermDebt, last quarter)
Debt = 2.58b USD (from shortLongTermDebtTotal, last quarter) + Leases 46.0m
Net Debt = -996.0m USD (calculated: Debt 2.58b - CCE 3.58b)
Enterprise Value = 37.9b USD (38.8b + Debt 2.58b - CCE 3.58b)
Interest Coverage Ratio = 18.03 (Ebit TTM 1.97b / Interest Expense TTM 109.0m)
EV/FCF = 22.94x (Enterprise Value 37.9b / FCF TTM 1.65b)
FCF Yield = 4.36% (FCF TTM 1.65b / Enterprise Value 37.9b)
FCF Margin = 22.32% (FCF TTM 1.65b / Revenue TTM 7.39b)
Net Margin = 19.19% (Net Income TTM 1.42b / Revenue TTM 7.39b)
Gross Margin = 70.63% ((Revenue TTM 7.39b - Cost of Revenue TTM 2.17b) / Revenue TTM)
Gross Margin QoQ = 70.07% (prev 70.07%)
Tobins Q-Ratio = 3.46 (Enterprise Value 37.9b / Total Assets 11.0b)
Interest Expense / Debt = 4.22% (Interest Expense 109.0m / Debt 2.58b)
Taxrate = 22.43% (410.0m / 1.83b)
NOPAT = 1.52b (EBIT 1.97b * (1 - 22.43%))
Current Ratio = 1.24 (Total Current Assets 5.67b / Total Current Liabilities 4.57b)
Debt / Equity = 1.73 (Debt 2.58b / totalStockholderEquity, last quarter 1.50b)
Debt / EBITDA = -0.46 (Net Debt -996.0m / EBITDA 2.15b)
Debt / FCF = -0.60 (Net Debt -996.0m / FCF TTM 1.65b)
Total Stockholder Equity = 1.25b (last 4 quarters mean from totalStockholderEquity)
RoA = 13.74% (Net Income 1.42b / Total Assets 11.0b)
RoE = 113.7% (Net Income TTM 1.42b / Total Stockholder Equity 1.25b)
RoCE = 61.69% (EBIT 1.97b / Capital Employed (Equity 1.25b + L.T.Debt 1.94b))
RoIC = 23.05% (NOPAT 1.52b / Invested Capital 6.61b)
WACC = 10.05% (E(38.8b)/V(41.4b) * Re(10.50%) + D(2.58b)/V(41.4b) * Rd(4.22%) * (1-Tc(0.22)))
Discount Rate = 10.50% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -97.66 | Cagr: -2.56%
[DCF] Terminal Value 69.64% ; FCFF base≈1.65b ; Y1≈1.65b ; Y5≈1.74b
[DCF] Fair Price = 111.9 (EV 21.0b - Net Debt -996.0m = Equity 22.0b / Shares 196.4m; r=10.05% [WACC]; 5y FCF grow -0.48% → 2.50% )
EPS Correlation: 87.70 | EPS CAGR: 9.23% | SUE: 4.0 | # QB: 2
Revenue Correlation: 93.92 | Revenue CAGR: 5.57% | SUE: 4.0 | # QB: 2
EPS current Quarter (2026-10-31): EPS=2.60 | Chg30d=+21.00% | Revisions=+82% | Analysts=18
EPS next Quarter (2027-01-31): EPS=2.37 | Chg30d=+5.25% | Revisions=+82% | Analysts=18
EPS current Year (2027-04-30): EPS=10.01 | Chg30d=+11.51% | Revisions=+83% | GrowthEPS=+23.1% | GrowthRev=+18.1%
EPS next Year (2028-04-30): EPS=11.12 | Chg30d=+11.65% | Revisions=+82% | GrowthEPS=+11.2% | GrowthRev=+5.8%
[Analyst] Revisions Ratio: +95% (up=57, down=0)