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NetApp NTAP Return on invested capital

Return on invested capital at other companies

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-19.7%-7.8pp
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46.8%+17.8pp
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4%+2.4pp
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-326.9%-476pp
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38.5%+26.3pp

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$35.03B+69.6%
Enterprise value$35.69B+67.4%
P/E27.5×+9.8×
P/S5.1×+1.9×

Profitability

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Gross margin70.7%+0.6pp
Operating margin24.2%+3.8pp
Net margin18.4%+0.4pp
FCF margin27%+6.6pp

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 trailing twelve months.

The source filing: NetApp’s 10-K, filed June 5, 2026. Open the filing →

Filed
Jun 5, 2026, 4:30 PM EDT
Fiscal year
FY2026
Accession
0001193125-26-259683

FAQ

What is NetApp's return on invested capital?
NetApp (NTAP) reported return on invested capital of 68.2% in Q1 2026.
How has NetApp's return on invested capital changed year-over-year?
NetApp's return on invested capital increased by 9.5% year-over-year, from 62.2% to 68.2%.
What is the long-term trend for NetApp's return on invested capital?
Over 2 years (2024 to 2026), NetApp's return on invested capital has grown at a 10.9% compound annual growth rate (CAGR), from 55.4% to 68.2%.
What does return on invested capital mean?
Net operating profit after tax (operating income taxed at the effective rate) divided by average invested capital (debt plus equity minus cash). Measures the after-tax return on all capital put to work in the business, independent of capital structure.

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