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NetApp NTAP Gross margin

Gross margin at other companies

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58.4%+1.3pp
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62.1%+7.1pp
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19.1%-3.0pp
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87.1%+0.7pp
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67.1%+0.8pp
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Western DigitalWDC
45.4%+8.2pp

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$35.03B+69.6%
Enterprise value$35.69B+67.4%
P/E27.5×+9.8×
P/S5.1×+1.9×

Profitability

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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 / equity-1.3×
Current ratio1.4×+0.2×

Where this comes from

Calculated from NetApp’s reported figures.

Based on trailing twelve months.

The source filing: NetApp’s 10-K, filed June 5, 2026. Open the filing →

Filed
Jun 5, 2026, 4:30 PM EDT
Fiscal year
FY2026
Accession
0001193125-26-259683

FAQ

What is NetApp's gross margin?
NetApp (NTAP) reported gross margin of 70.7% in Q1 2026.
How has NetApp's gross margin changed year-over-year?
NetApp's gross margin increased by 0.8% year-over-year, from 70.2% to 70.7%.
What is the long-term trend for NetApp's gross margin?
Over 5 years (2021 to 2026), NetApp's gross margin has grown at a 1.3% compound annual growth rate (CAGR), from 66.4% to 70.7%.
What does gross margin mean?
Gross profit (revenue minus cost of revenue) as a percentage of revenue, on a trailing-twelve-month basis. Measures how much of each sales dollar survives the direct cost of producing the goods or services sold.

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