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NetApp NTAP Q1 2027 earnings

Reported September 2, 2026 · After market close

Revenue$2.0BBeat by $188.0M
Adjusted EPS$2.58Beat by $0.46
Revenue estimate$1.8B
EPS estimate$2.12
“NetApp delivered a record-setting start to the year, exceeding guidance on every metric and achieving our strongest first quarter ever. Our momentum reflects not only the trust of existing customers but also our success in winning new ones, as organizations choose the NetApp Platform to power their AI and hybrid multi-cloud initiatives. Through continued innovation and strategic investments, we are enabling customers to address their most critical needs and creating lasting value for all stakeholders.”
George Kurian

Next report

Dec 1, 2026 (in 2 months)
Revenue estimate$2.1B
EPS estimate$2.60

Financials

Q1 2027

Income statement

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Revenue$1.8B+30.1%
Gross profit$1.2B+29.5%
Operating income$484.0M+56.6%
Net income$375.0M+60.9%
EPS (diluted)$1.88+63.5%

Balance sheet

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Cash & equivalents$1.6B-24.6%
Total debt$2.5B-7.7%
Total equity$1.5B+53.3%
Total assets$11.0B+13.2%

Cash flow

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Operating cash flow$503.0M-25.3%
CapEx$102.0M+92.5%
Free cash flow$401.0M-35.3%

Valuation & ratios

Valuation

as of 10/08/26
See full
Market cap$46.31B+90.4%
Enterprise value$47.27B+89.3%
P/E32.7×+11.9×
P/S6.5×+2.7×

Profitability

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Gross margin69.8%+0.5pp
Operating margin25.7%+4.5pp
Net margin19.7%+1.5pp
FCF margin23%-2.8pp

Returns & leverage

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Return on equity114.8%-8.2pp
Debt / equity1.7×-1.1×
Current ratio1.2×-0.1×

Segments

By geography

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Americas$978.0M+23.6%
EMEA$668.0M+32.8%
Asia Pacific$379.0M+43.0%

By product

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Support$720.0M+11.3%
Public Cloud$206.0M+28.0%
Professional And Other Services$112.0M+15.5%

FAQ

When did NetApp report Q1 2027 earnings?
NetApp (NTAP) reported Q1 2027 earnings on September 2, 2026 after market close.
What were NetApp's Q1 2027 revenue and EPS?
NetApp reported revenue of $2.0B and adjusted eps of $2.58 for Q1 2027.
Did NetApp beat estimates in Q1 2027?
Revenue beat the consensus estimate of $1.8B by $188.0M. EPS beat the consensus estimate of $2.12 by $0.46.
How did NetApp's Q1 2027 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 30.1% from $1.6B a year earlier.
Where can I find NetApp's Q1 2027 SEC filings?
You can read the 8-K earnings release (0001002047-26-000003) and the 10-Q periodic report (0001193125-26-380207) directly on SEC EDGAR. The filing index links above go to sec.gov.