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

	TTM Q4 '26	TTM Q3 '26	TTM Q2 '26	TTM Q1 '26	TTM Q4 '25
Profitability
Gross margin	281.5%+0.6pp	280.9%-0.2pp	281.1%-0.8pp	281.9%-1.1pp	283%-0.5pp
Operating margin	88.4%+3.8pp	84.6%+1.4pp	83.2%+0.4pp	82.9%0.0pp	82.8%+1.0pp
Net margin	72%+0.4pp	71.6%+0.6pp	71%0.0pp	71.1%+0.8pp	70.3%+2.3pp
EBITDA margin	101.2%+3.0pp	98.2%+0.5pp	97.6%-0.2pp	97.9%-0.4pp	98.3%+0.6pp
Free cash flow margin	101.4%+6.6pp	94.8%+4.5pp	90.2%+4.0pp	86.2%+3.0pp	83.2%-4.1pp
Returns
Return on equity	467.7%-1.8pp	469.4%-1.7pp	471.2%-13.2pp	484.3%+2.6pp	481.8%+23.0pp
Return on assets	49.6%+0.4pp	49.2%+0.4pp	48.8%-0.1pp	48.9%+0.7pp	48.3%+1.4pp
Return on invested capital	264.5%+5.9pp	258.6%-0.5pp	259.1%+1.2pp	257.9%+4.4pp	253.5%+6.9pp
Efficiency
Asset turnover	2.8×0.0×	2.7×0.0×	2.8×0.0×	2.8×0.0×	2.7×0.0×
Inventory turnover	41.4×0.0×	41.3×+0.9×	40.4×+0.4×	40×+0.7×	39.3×+0.1×
Liquidity
Current ratio	5.5×+0.2×	5.3×+0.5×	4.8×+0.4×	4.4×+0.4×	4.1×+0.1×
Quick ratio	5.3×+0.2×	5.2×+0.5×	4.7×+0.5×	4.2×+0.4×	3.8×+0.1×
Cash ratio	2.1×-0.1×	2.2×+0.1×	2.1×+0.3×	1.9×+0.2×	1.7×+0.1×
Leverage
Debt-to-equity	10×-1.3×	11.3×+0.1×	11.2×+0.3×	11×0.0×	11×+1.0×
Debt-to-assets	1.1×-0.1×	1.2×0.0×	1.1×0.0×	1.1×0.0×	1.1×+0.1×
Net debt / EBITDA	1.8×-0.1×	1.9×+0.2×	1.8×-0.1×	1.8×-0.2×	2×0.0×
Per Share
Book value per share	$22.20+8.5%	$20.45+5.2%	$19.44+3.4%	$18.81+2.3%	$18.39-2.2%
Valuation
Market capitalization	$85.29B+4.5%	$81.63B-6.6%	$87.37B-0.3%	$87.61B-5.7%	$92.93B-3.0%
Enterprise value	$88.38B+4.2%	$84.81B-6.0%	$90.18B-0.4%	$90.53B-5.9%	$96.19B-2.9%
Price / earnings	70.6×+1.8×	68.9×-6.1×	74.9×-0.7×	75.6×-6.3×	81.9×-6.0×
Price / sales	12.7×+0.4×	12.3×-1.0×	13.3×-0.1×	13.4×-0.9×	14.4×-0.6×
Price / book	77.9×-1.3×	79.2×-8.5×	87.7×-2.8×	90.4×-6.8×	97.2×-0.9×
EV / EBITDA	52.2×0.0×	52.1×-4.0×	56.1×-0.5×	56.6×-3.8×	60.4×-2.9×
EV / sales	13.2×+0.4×	12.8×-0.9×	13.7×-0.1×	13.9×-1.0×	14.9×-0.6×
Free cash flow yield	32.1%+1.2pp	30.9%+3.3pp	27.5%+1.3pp	26.2%+2.6pp	23.6%+0.1pp
Earnings yield	22.8%-0.7pp	23.5%+1.8pp	21.7%+0.2pp	21.6%+1.5pp	20.1%+1.8pp
Dividend yield	7.9%-0.4pp	8.3%+0.5pp	7.8%0.0pp	7.8%+0.4pp	7.4%+0.4pp
PEG ratio	15.7×+1.5×	14.2×+1.3×	12.9×+8.5×	4.4×—	——

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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.