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%+0.6pp	70.5%-0.2pp	70.3%-0.8pp	70%-1.1pp	70.2%-0.5pp
Operating margin	24.2%+3.8pp	22.2%+1.4pp	21.4%+0.4pp	20.7%0.0pp	20.3%+1.0pp
Net margin	18.4%+0.4pp	18.1%+0.6pp	17.7%0.0pp	17.8%+0.8pp	18%+2.3pp
EBITDA margin	27.1%+3.0pp	25.2%+0.5pp	24.7%-0.2pp	24.2%-0.4pp	24%+0.6pp
Free cash flow margin	27%+6.6pp	24%+4.5pp	25.3%+4.0pp	25.2%+3.0pp	20.4%-4.1pp
Returns
Return on equity	106.7%-1.8pp	112.6%-1.7pp	125.3%-13.2pp	123%+2.6pp	108.5%+23.0pp
Return on assets	11.8%+0.4pp	12.8%+0.4pp	12.6%-0.1pp	12.3%+0.7pp	11.5%+1.4pp
Return on invested capital	68.2%+5.9pp	60.9%-0.5pp	70.8%+1.2pp	64.6%+4.4pp	62.2%+6.9pp
Efficiency
Asset turnover	0.6×0.0×	0.7×0.0×	0.7×0.0×	0.7×0.0×	0.6×0.0×
Inventory turnover	10.6×0.0×	10.5×+0.9×	8.9×+0.4×	11.4×+0.7×	10.5×+0.1×
Liquidity
Current ratio	1.4×+0.2×	1.4×+0.5×	1.3×+0.4×	1.3×+0.4×	1.3×+0.1×
Quick ratio	1.4×+0.2×	1.4×+0.5×	1.3×+0.5×	1.3×+0.4×	1.2×+0.1×
Cash ratio	0.5×-0.1×	0.5×+0.1×	0.6×+0.3×	0.6×+0.2×	0.6×+0.1×
Leverage
Debt-to-equity	2×-1.3×	2.4×+0.1×	2.8×+0.3×	2.8×0.0×	3.4×+1.0×
Debt-to-assets	0.3×-0.1×	0.3×0.0×	0.3×0.0×	0.3×0.0×	0.3×+0.1×
Net debt / EBITDA	0.4×-0.1×	0.7×+0.2×	0.4×-0.1×	0.4×-0.2×	0.5×0.0×
Per Share
Book value per share	$6.72+35.1%	$5.79+21.0%	$4.88+14.9%	$4.80+9.6%	$4.98-7.5%
Valuation
Market capitalization	$21.86B+20.1%	$19.08B-23.1%	$23.51B-1.0%	$20.84B-20.3%	$18.2B-13.6%
Enterprise value	$22.52B+18.9%	$20.19B-21.0%	$24.18B-1.4%	$21.5B-20.8%	$18.95B-13.1%
Price / earnings	17.1×+1.8×	15.7×-6.1×	20×-0.7×	17.8×-6.3×	15.3×-6.0×
Price / sales	3.2×+0.4×	2.8×-1.0×	3.5×-0.1×	3.2×-0.9×	2.8×-0.6×
Price / book	16.2×-1.3×	16.5×-8.5×	23.8×-2.8×	21.4×-6.8×	17.5×-0.9×
EV / EBITDA	12×0.0×	11.9×-4.0×	14.8×-0.5×	13.5×-3.8×	12×-2.9×
EV / sales	3.3×+0.4×	3×-0.9×	3.6×-0.1×	3.3×-1.0×	2.9×-0.6×
Free cash flow yield	8.6%+1.2pp	8.4%+3.3pp	7.1%+1.3pp	8%+2.6pp	7.4%+0.1pp
Earnings yield	5.8%-0.7pp	6.4%+1.8pp	5%+0.2pp	5.6%+1.5pp	6.5%+1.8pp
Dividend yield	1.9%-0.4pp	2.2%+0.5pp	1.8%0.0pp	2%+0.4pp	2.3%+0.4pp
PEG ratio	2.3×+1.5×	2.4×+1.3×	8.8×+8.5×	2.2×—	0.8×—

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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.