What is NetApp's capex?

NetApp (NTAP) reported capex of $50M in Q1 2026.

How has NetApp's capex changed year-over-year?

NetApp's capex increased by 42.9% year-over-year, from $35M to $50M.

What is the long-term trend for NetApp's capex?

Over 4 years (2022 to 2026), NetApp's capex has grown at a -3.3% compound annual growth rate (CAGR), from $226M to $198M.

What does capex mean?

Cash spent on property, plant, and equipment — the primary measure of investment in productive capacity and infrastructure.

NetApp NTAP CapEx

CapEx at other companies

International Business MachinesIBM

$232M-4.9%

Backblaze, Inc.BLZE

$651K+29.4%

Dell TechnologiesDELL

$963M+69.5%

Nutanix, Inc.NTNX

$10.32M-31.6%

Hewlett Packard EnterpriseHPE

$583M+6.6%

SnowflakeSNOW

$10.45M-76.8%

Other financials

Income statement

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Revenue$1.9B+12.5%

Gross profit$1.4B+14.4%

Operating income$532.0M+52.9%

Net income$404.0M+18.8%

EPS (diluted)$2.03+23.8%

Balance sheet

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Cash & equivalents$2.1B-24.5%

Total debt$2.7B-21.7%

Total equity$1.4B+29.9%

Total assets$10.7B-0.7%

Cash flow

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Operating cash flow$950.0M+40.7%

Free cash flow$900.0M+40.6%

Valuation

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Market cap$30.32B+43.9%

Enterprise value$30.98B+42.0%

P/E23.8×+6.0×

P/S4.4×+1.2×

Profitability

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Gross margin70.7%+0.6pp

Operating margin24.2%+3.8pp

Net margin18.4%+0.4pp

FCF margin27%+6.6pp

Returns & leverage

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Return on equity106.7%-1.8pp

Debt / equity2×-1.3×

Current ratio1.4×+0.2×

Where this comes from

Reported directly by NetApp in its filing.

Tagged under the XBRL concept us-gaap:PaymentsToAcquirePropertyPlantAndEquipment.

The official record: NetApp’s 10-K, filed June 5, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is NetApp's capex?: NetApp (NTAP) reported capex of $50M in Q1 2026.
How has NetApp's capex changed year-over-year?: NetApp's capex increased by 42.9% year-over-year, from $35M to $50M.
What is the long-term trend for NetApp's capex?: Over 4 years (2022 to 2026), NetApp's capex has grown at a -3.3% compound annual growth rate (CAGR), from $226M to $198M.
What does capex mean?: Cash spent on property, plant, and equipment — the primary measure of investment in productive capacity and infrastructure.