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NetApp NTAP EBITDA margin

EBITDA margin at other companies

International Business Machines logo
International Business MachinesIBM
25.6%+6.0pp
Dell Technologies logo
Dell TechnologiesDELL
10.2%+0.4pp
Hewlett Packard Enterprise logo
Hewlett Packard EnterpriseHPE
12.3%+2.8pp
TD SYNNEX logo
TD SYNNEXSNX
3.1%+0.4pp
Snowflake logo
SnowflakeSNOW
-21.4%-6.1pp
Western Digital logo
Western DigitalWDC
31.6%+22.3pp

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%
CapEx$50.0M+42.9%
Free cash flow$900.0M+40.6%

Valuation

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Market cap$30.33B+20.1%
Enterprise value$30.99B+18.9%
P/E23.8×+2.5×
P/S4.4×+0.5×

Profitability

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Gross margin70.7%+0.6pp
Operating margin24.2%+3.8pp
Net margin18.4%+0.4pp

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

Calculated from NetApp’s reported figures.

ebitda/total revenue=27.1%

Based on trailing twelve months.

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 EBITDA margin?
NetApp (NTAP) reported EBITDA margin of 27.1% in Q1 2026.
How has NetApp's EBITDA margin changed year-over-year?
NetApp's EBITDA margin increased by 12.6% year-over-year, from 24% to 27.1%.
What is the long-term trend for NetApp's EBITDA margin?
Over 5 years (2021 to 2026), NetApp's EBITDA margin has grown at a 4.5% compound annual growth rate (CAGR), from 81.1% to 101.2%.
What does EBITDA margin mean?
Operating cash profitability per sales dollar, before interest, taxes, and non-cash charges.
How do you interpret EBITDA margin?
Useful for comparing operating profitability across firms with different depreciation policies and leverage. High EBITDA margin alongside heavy capex can still mean weak free cash flow — pair it with FCF margin.
How does EBITDA margin compare across companies?
Widely used to compare capital-intensive businesses on a like-for-like basis. Less meaningful for banks and insurers.