What are NetApp's profit margins?

NetApp (NTAP) runs a 70.7% gross margin and a 24.2% operating margin, with a 18.4% net margin.

Where do NetApp's ratios come from?

Every ratio is computed from NetApp's SEC filings — trailing-twelve-month flows over period-end balances. Valuation multiples combine those fundamentals with market data, recomputed each period. Switch between quarterly, annual, and TTM, or open any ratio for its full history and peer comparisons.

NetApp NTAP Ratios & Valuation

Income Statement Balance Sheet Cash Flow Ratios Segments

Quarterly Annual TTM

YoY QoQ

Simplified Detailed

	Q4 '26	Q3 '26	Q2 '26	Q1 '26	Q4 '25
Profitability
Gross margin	70.7%+0.3pp	70.5%+0.2pp	70.3%+0.3pp	70%-0.2pp	70.2%-0.4pp
Operating margin	24.2%+2.0pp	22.2%+0.8pp	21.4%+0.7pp	20.7%+0.4pp	20.3%-0.5pp
Net margin	18.4%+0.4pp	18.1%+0.3pp	17.7%0.0pp	17.8%-0.3pp	18%+0.6pp
EBITDA margin	27.1%+1.8pp	25.2%+0.6pp	24.7%+0.5pp	24.2%+0.2pp	24%-0.7pp
Free cash flow margin	27%+3.0pp	24%-1.3pp	25.3%+0.1pp	25.2%+4.8pp	20.4%+0.9pp
Returns
Return on equity	106.7%-5.9pp	112.6%-12.8pp	125.3%+2.3pp	123%+14.5pp	108.5%-5.8pp
Return on assets	11.8%-1.0pp	12.8%+0.2pp	12.6%+0.3pp	12.3%+0.9pp	11.5%-0.9pp
Return on invested capital	68.2%+7.3pp	60.9%-9.9pp	70.8%+6.2pp	64.6%+2.4pp	62.2%+0.9pp
Efficiency
Asset turnover	0.6×-0.1×	0.7×0.0×	0.7×0.0×	0.7×+0.1×	0.6×-0.1×
Inventory turnover	10.6×0.0×	10.5×+1.6×	8.9×-2.5×	11.4×+0.9×	10.5×+0.9×
Liquidity
Current ratio	1.4×0.0×	1.4×0.0×	1.3×0.0×	1.3×+0.1×	1.3×+0.3×
Quick ratio	1.4×0.0×	1.4×+0.1×	1.3×0.0×	1.3×+0.1×	1.2×+0.3×
Cash ratio	0.5×+0.1×	0.5×-0.1×	0.6×0.0×	0.6×0.0×	0.6×+0.2×
Leverage
Debt-to-equity	2×-0.3×	2.4×-0.4×	2.8×0.0×	2.8×-0.5×	3.4×+1.1×
Debt-to-assets	0.3×0.0×	0.3×0.0×	0.3×0.0×	0.3×0.0×	0.3×+0.1×
Net debt / EBITDA	0.4×-0.3×	0.7×+0.2×	0.4×0.0×	0.4×-0.1×	0.5×0.0×
Per Share
Book value per share	$6.72+16.1%	$5.79+18.6%	$4.88+1.6%	$4.80-3.5%	$4.98+4.0%
Valuation
Market capitalization	$21.86B+14.5%	$19.08B-18.8%	$23.51B+12.8%	$20.84B+14.5%	$18.2B-26.7%
Enterprise value	$22.52B+11.6%	$20.19B-16.5%	$24.18B+12.5%	$21.5B+13.5%	$18.95B-25.9%
Price / earnings	17.1×+1.4×	15.7×-4.2×	20×+2.2×	17.8×+2.5×	15.3×-6.5×
Price / sales	3.2×+0.3×	2.8×-0.7×	3.5×+0.4×	3.2×+0.4×	2.8×-1.0×
Price / book	16.2×-0.3×	16.5×-7.4×	23.8×+2.5×	21.4×+3.9×	17.5×-7.5×
EV / EBITDA	12×+0.1×	11.9×-2.8×	14.8×+1.3×	13.5×+1.5×	12×-3.9×
EV / sales	3.3×+0.2×	3×-0.6×	3.6×+0.4×	3.3×+0.4×	2.9×-1.0×
Free cash flow yield	8.6%+0.1pp	8.4%+1.3pp	7.1%-0.8pp	8%+0.6pp	7.4%+2.3pp
Earnings yield	5.8%-0.5pp	6.4%+1.3pp	5%-0.6pp	5.6%-0.9pp	6.5%+1.9pp
Dividend yield	1.9%-0.3pp	2.2%+0.4pp	1.8%-0.2pp	2%-0.3pp	2.3%+0.6pp
PEG ratio	2.3×-0.1×	2.4×-6.5×	8.8×+6.6×	2.2×+1.5×	0.8×-0.3×

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Questions, answered.

What are NetApp's profit margins?: NetApp (NTAP) runs a 70.7% gross margin and a 24.2% operating margin, with a 18.4% net margin.
Where do NetApp's ratios come from?: Every ratio is computed from NetApp's SEC filings — trailing-twelve-month flows over period-end balances. Valuation multiples combine those fundamentals with market data, recomputed each period. Switch between quarterly, annual, and TTM, or open any ratio for its full history and peer comparisons.