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NetApp NTAP Q2 2026 earnings

Reported November 25, 2025 · After market close

Revenue$1.7BBeat by $17.7M
EPS$2.05Beat by $0.17
Revenue estimate$1.7B
EPS estimate$1.88

Next report

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

Financials

Q2 2026

Income statement

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Revenue$1.7B+2.8%
Gross profit$1.2B+4.2%
Operating income$399.0M+15.7%
Net income$305.0M+2.0%
EPS (diluted)$1.51+6.3%

Balance sheet

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Cash & equivalents$2.1B+40.2%
Total debt$2.7B+21.7%
Total equity$986.0M+10.5%
Total assets$9.6B+7.0%

Cash flow

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Operating cash flow$127.0M+21.0%
CapEx$49.0M+8.9%
Free cash flow$78.0M+30.0%

Valuation & ratios

Valuation

as of 10/24/25
See full
Market cap$23.51B-1.0%
Enterprise value$24.18B-1.4%
P/E20×-0.7×
P/S3.6×0.0×

Profitability

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Gross margin69.5%-1.6pp
Operating margin21.9%+0.9pp
Net margin18.2%+0.4pp
FCF margin25.9%+4.6pp

Returns & leverage

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Return on equity125.3%-13.2pp
Debt / equity2.8×+0.3×
Current ratio1.3×+0.4×

Segments

By geography

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Americas$863.0M+0.1%
EMEA$572.0M+5.3%
Asia Pacific$270.0M+6.7%

By product

See full
Support$647.0M+1.9%
Public Cloud$171.0M+1.8%
Professional And Other Services$99.0M+13.8%

FAQ

When did NetApp report Q2 2026 earnings?
NetApp (NTAP) reported Q2 2026 earnings on November 25, 2025 after market close.
What were NetApp's Q2 2026 revenue and EPS?
NetApp reported revenue of $1.7B and eps of $2.05 for Q2 2026.
Did NetApp beat estimates in Q2 2026?
Revenue beat the consensus estimate of $1.7B by $17.7M. EPS beat the consensus estimate of $1.88 by $0.17.
How did NetApp's Q2 2026 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 2.8% from $1.7B a year earlier and eps grew 9.6% from $1.87.
Where can I find NetApp's Q2 2026 SEC filings?
You can read the 8-K earnings release (0001193125-25-297164) and the 10-Q periodic report (0001193125-25-297237) directly on SEC EDGAR. The filing index links above go to sec.gov.