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%-1.6pp	280.9%-2.6pp	281.1%-2.0pp	281.9%+1.4pp	283%+6.6pp
Operating margin	88.4%+5.6pp	84.6%+2.8pp	83.2%+3.5pp	82.9%+8.3pp	82.8%+13.8pp
Net margin	72%+1.7pp	71.6%+3.6pp	71%+5.3pp	71.1%+11.8pp	70.3%+8.5pp
EBITDA margin	101.2%+2.9pp	98.2%+0.5pp	97.6%+1.8pp	97.9%+6.9pp	98.3%+12.7pp
Free cash flow margin	101.4%+18.2pp	94.8%+7.5pp	90.2%+3.7pp	86.2%+4.0pp	83.2%+5.9pp
Returns
Return on equity	467.7%-14.1pp	469.4%+10.6pp	471.2%+37.0pp	484.3%+118pp	481.8%+78.3pp
Return on assets	49.6%+1.3pp	49.2%+2.4pp	48.8%+4.5pp	48.9%+10.0pp	48.3%+8.2pp
Return on invested capital	264.5%+11.0pp	258.6%+12.0pp	259.1%-3.8pp	257.9%-6.0pp	253.5%-53.2pp
Efficiency
Asset turnover	2.8×0.0×	2.7×0.0×	2.8×+0.1×	2.8×+0.1×	2.7×+0.2×
Inventory turnover	41.4×+2.0×	41.3×+2.2×	40.4×-1.3×	40×-3.6×	39.3×-4.9×
Liquidity
Current ratio	5.5×+1.4×	5.3×+1.3×	4.8×+0.6×	4.4×0.0×	4.1×-0.6×
Quick ratio	5.3×+1.5×	5.2×+1.4×	4.7×+0.7×	4.2×0.0×	3.8×-0.7×
Cash ratio	2.1×+0.5×	2.2×+0.7×	2.1×+0.5×	1.9×0.0×	1.7×-0.4×
Leverage
Debt-to-equity	10×-1.0×	11.3×+1.4×	11.2×+0.9×	11×-0.3×	11×-0.5×
Debt-to-assets	1.1×0.0×	1.2×+0.1×	1.1×+0.1×	1.1×0.0×	1.1×0.0×
Net debt / EBITDA	1.8×-0.2×	1.9×-0.1×	1.8×-0.5×	1.8×-0.5×	2×-0.2×
Per Share
Book value per share	$22.20+20.7%	$20.45+8.8%	$19.44+3.9%	$18.81+3.8%	$18.39+3.4%
Valuation
Market capitalization	$85.29B-8.2%	$81.63B-14.8%	$87.37B-1.8%	$87.61B+9.3%	$92.93B+32.3%
Enterprise value	$88.38B-8.1%	$84.81B-14.4%	$90.18B-2.3%	$90.53B+8.4%	$96.19B+31.4%
Price / earnings	70.6×-11.3×	68.9×-19.1×	74.9×-10.3×	75.6×-10.6×	81.9×+6.4×
Price / sales	12.7×-1.6×	12.3×-2.6×	13.3×-0.7×	13.4×+0.6×	14.4×+3.0×
Price / book	77.9×-19.4×	79.2×-18.9×	87.7×-3.6×	90.4×+6.4×	97.2×+22.7×
EV / EBITDA	52.2×-8.2×	52.1×-11.1×	56.1×-4.5×	56.6×-1.7×	60.4×+5.2×
EV / sales	13.2×-1.7×	12.8×-2.7×	13.7×-0.9×	13.9×+0.5×	14.9×+3.0×
Free cash flow yield	32.1%+8.4pp	30.9%+7.3pp	27.5%+2.6pp	26.2%+0.2pp	23.6%-3.5pp
Earnings yield	22.8%+2.7pp	23.5%+5.2pp	21.7%+2.8pp	21.6%+2.9pp	20.1%-1.9pp
Dividend yield	7.9%+0.5pp	8.3%+1.3pp	7.8%+0.2pp	7.8%-0.9pp	7.4%-2.4pp
PEG ratio	15.7×—	14.2×—	12.9×—	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.