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NetApp NTAP Free cash flow yield

Free cash flow yield at other companies

International Business Machines logo
International Business MachinesIBM
5.7%+0.2pp
Dell Technologies logo
Dell TechnologiesDELL
7%+1.2pp
Hewlett Packard Enterprise logo
Hewlett Packard EnterpriseHPE
10.4%+9.9pp
TD SYNNEX logo
TD SYNNEXSNX
19.1%—
Snowflake logo
SnowflakeSNOW
2.5%+1.0pp
Western Digital logo
Western DigitalWDC
-5.3%-1.6pp

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.

free cash flow/market cap=8.6%

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 free cash flow yield?
NetApp (NTAP) reported free cash flow yield of 8.6% in Q1 2026.
How has NetApp's free cash flow yield changed year-over-year?
NetApp's free cash flow yield increased by 16.3% year-over-year, from 7.4% to 8.6%.
What is the long-term trend for NetApp's free cash flow yield?
Over 5 years (2021 to 2026), NetApp's free cash flow yield has grown at a -1.3% compound annual growth rate (CAGR), from 34.2% to 32.1%.
What does free cash flow yield mean?
The spendable cash the business throws off each year as a percentage of its market price.
How do you interpret free cash flow yield?
Higher yield can mean better value — you pay less for each dollar of cash generated. A useful sanity check against earnings-based multiples, which non-cash items can distort.
How does free cash flow yield compare across companies?
Comparable across cash-generative companies; less meaningful for firms in heavy-investment phases with temporarily negative FCF.