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NetApp NTAP Net margin

Net margin at other companies

International Business Machines logo
International Business MachinesIBM
15.6%+6.9pp
Dell Technologies logo
Dell TechnologiesDELL
6.3%+1.6pp
Hewlett Packard Enterprise logo
Hewlett Packard EnterpriseHPE
4%-0.6pp
TD SYNNEX logo
TD SYNNEXSNX
1.5%+0.4pp
Snowflake logo
SnowflakeSNOW
-23.8%-6.1pp
Western Digital logo
Western DigitalWDC
55.3%+36.8pp

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

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 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 net margin?
NetApp (NTAP) reported net margin of 18.4% in Q1 2026.
How has NetApp's net margin changed year-over-year?
NetApp's net margin increased by 2.1% year-over-year, from 18% to 18.4%.
What is the long-term trend for NetApp's net margin?
Over 5 years (2021 to 2026), NetApp's net margin has grown at a 7.5% compound annual growth rate (CAGR), from 50.2% to 72%.
What does net margin mean?
The share of every sales dollar that becomes bottom-line profit.
How do you interpret net margin?
Higher is better, but net margin mixes operating performance with financing and tax effects and one-off items — read it alongside operating margin to separate the operating story from the rest.
How does net margin compare across companies?
Comparable across peers but sensitive to leverage and tax structure; two operationally identical firms can show different net margins purely from financing.