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NetApp NTAP Price / sales

Price / sales at other companies

International Business Machines logo
International Business MachinesIBM
3.3×-0.4×
Dell Technologies logo
Dell TechnologiesDELL
+0.3×
Hewlett Packard Enterprise logo
Hewlett Packard EnterpriseHPE
+0.3×
TD SYNNEX logo
TD SYNNEXSNX
0.2×0.0×
Snowflake logo
SnowflakeSNOW
9.4×-4.4×
Western Digital logo
Western DigitalWDC
12.5×+10.9×

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×

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 / equity-1.3×
Current ratio1.4×+0.2×

Where this comes from

Calculated from NetApp’s reported figures.

Based on the most recent quarter.

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 price / sales?
NetApp (NTAP) reported price / sales of 3.2× in Q1 2026.
How has NetApp's price / sales changed year-over-year?
NetApp's price / sales increased by 14.0% year-over-year, from 2.8× to 3.2×.
What is the long-term trend for NetApp's price / sales?
Over 5 years (2021 to 2026), NetApp's price / sales has grown at a 6.9% compound annual growth rate (CAGR), from 9.1× to 12.7×.
What does price / sales mean?
How many dollars investors pay for each dollar of the company's annual sales.
How do you interpret price / sales?
Useful when earnings are negative or volatile (e.g. early-stage or cyclical firms). Only comparable across companies with similar margins — a sales dollar is worth more at a high-margin business.
How does price / sales compare across companies?
Best compared within a margin cohort; a software P/S and a retailer P/S are not directly comparable.