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NetApp NTAP Operating margin

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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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Gross margin70.7%+0.6pp
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 operating margin?
NetApp (NTAP) reported operating margin of 24.2% in Q1 2026.
How has NetApp's operating margin changed year-over-year?
NetApp's operating margin increased by 18.8% year-over-year, from 20.3% to 24.2%.
What is the long-term trend for NetApp's operating margin?
Over 5 years (2021 to 2026), NetApp's operating margin has grown at a 6.1% compound annual growth rate (CAGR), from 17.9% to 24.2%.
What does operating margin mean?
Operating income as a percentage of revenue (trailing twelve months). Captures profitability from core operations after both cost of revenue and operating expenses, but before interest and taxes.

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