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NetApp NTAP Variable costs

Variable costs at other companies

Carnival CorporationCCL

$52.25M-0.9%

Devon EnergyDVN

$0—

Iron MountainIRM

$59.9M+74.1%

Las Vegas SandsLVS

$0—

Medline, Inc. MDLN

$500K0.0%

Granite Point Mortgage TrustGPMT

——

Other financials

Income statement

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

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

Operating cash flow$950.0M+40.7%

CapEx$50.0M+42.9%

Free cash flow$900.0M+40.6%

Valuation

Market cap$31.29B+20.1%

Enterprise value$31.95B+18.9%

P/E24.5×+2.6×

P/S4.5×+0.6×

Profitability

Gross margin70.7%+0.6pp

Operating margin24.2%+3.8pp

Net margin18.4%+0.4pp

Returns & leverage

Return on equity106.7%-1.8pp

Debt / equity2×-1.3×

Current ratio1.4×+0.2×

Where this comes from

Reported directly by NetApp in its filing.

Tagged under the XBRL concept us-gaap:VariableLeaseCost.

The official record: NetApp’s 10-Q, filed February 26, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is NetApp's variable costs?: NetApp (NTAP) reported variable costs of $4M in Q4 2025.
How has NetApp's variable costs changed year-over-year?: NetApp's variable costs increased by 33.3% year-over-year, from $3M to $4M.