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NasdaqGS · Technology · Financials

NetApp Inc (NTAP) financial statements and cash flow.

Revenue, profitability, balance-sheet strength, and cash generation for NTAP. Market data source · as of 2026-07-31.

Section freshness

Price Sep 4, 1:34 PM EDT · Statements Jul 30, 8:00 PM EDT

Financial read

NTAP latest financial snapshot.

Start with the latest reported values below. Deeper quarterly and annual statement tables follow when supplied.

Revenue

$2.02B

+23.4% YoY

Net income

$375.00M

+12.3% QoQ

Gross margin

70.07%

Gross profit $1.42B

Net margin

18.52%

Operating margin 23.90%

Balance sheet coverage

NTAP balance sheet summary

Assets, liabilities, liquidity, debt, and equity sit beside income and cash-flow tables so the statement history reads as one model-ready dataset.

20 quarterly · 4 annual rows · Market data source · as of 2026-07-31

Open balance sheet table

Latest period

Q2 FY2026

20 quarterly · 4 annual rows

Assets / liabilities

$10.96B

Liabilities $9.46B

Cash / debt

$1.57B

Net cash -$915.00M

Equity / working capital

$1.50B

Working capital $1.10B

Financial statements

NTAP statement coverage.

Income statement, balance sheet, and cash-flow figures for NTAP, with quarterly and annual history in the tables below.

Data last updated

Jul 30, 2026

Income periods

Balance-sheet periods

Cash-flow periods

Quarterly and annual NTAP statements, sourced from Market data source · as of 2026-07-31.

Financial statement period

NTAP statement history

Market data source · as of 2026-07-31 · Data last updated: Jul 30, 2026

ProfitabilityIncome statementRevenue, expenses, margins, and income quality20 quarterly periods Capital structureBalance sheetAssets, liabilities, debt, equity, and share count20 quarterly periods Cash generationCash flowOperating cash flow, CapEx, FCF, buybacks, and dividends20 quarterly periods

Income statement

Quarterly and annual rows for revenue, operating leverage, earnings quality, and margin direction.

8 / 20 Quarterly

Period	Revenue	Gross profit	Operating income	Net income	Net margin	Revenue QoQ	Net income QoQ
Q2 FY2026	$2.02B	$1.42B	$484.00M	$375.00M	18.52%	+18.2%	+12.3%
Q4 FY2025	$1.71B	$1.21B	$434.00M	$334.00M	19.50%	+0.5%	+9.5%
Q3 FY2025	$1.71B	$1.23B	$399.00M	$305.00M	17.89%	+9.4%	+30.9%
Q2 FY2025	$1.56B	$1.10B	$309.00M	$233.00M	14.95%	-5.0%	-22.1%
Q4 FY2024	$1.64B	$1.15B	$362.00M	$299.00M	18.22%	0.0%	0.0%
Q1 FY2025	$1.64B	$1.15B	$362.00M	$299.00M	18.22%	-1.0%	0.0%
Q3 FY2024	$1.66B	$1.18B	$345.00M	$299.00M	18.03%	+7.6%	+20.6%
Q2 FY2024	$1.54B	$1.10B	$282.00M	$248.00M	16.09%	-4.0%	-20.8%

Balance sheet

Balance-sheet history for assets, liabilities, liquidity, debt, equity, and shares outstanding.

8 / 20 Quarterly

Period	Cash	Current assets	Current liabilities	Total assets	Total liabilities	Total debt	Total equity	Debt QoQ
Q2 FY2026	$1.57B	$5.67B	$4.57B	$10.96B	$9.46B	$2.49B	$1.50B	+0.0%
Q1 FY2026	$2.07B	$5.78B	$4.02B	$10.74B	$9.39B	$2.49B	$1.35B	+0.0%
Q4 FY2025	$1.63B	$5.00B	$3.59B	$9.97B	$8.81B	$2.49B	$1.16B	0.0%
Q3 FY2025	$2.07B	$4.65B	$3.47B	$9.63B	$8.64B	$2.49B	$986.00M	-23.2%
Q2 FY2025	$2.74B	$5.85B	$4.66B	$10.82B	$9.78B	$3.23B	$975.00M	0.0%
Q1 FY2025	$2.74B	$5.85B	$4.66B	$10.82B	$9.78B	$3.23B	$1.04B	+62.2%
Q4 FY2024	$1.51B	$3.91B	$4.20B	$8.99B	$7.99B	$1.99B	$995.00M	+0.1%
Q3 FY2024	$1.48B	$3.94B	$4.32B	$9.00B	$8.11B	$1.99B	$892.00M	-16.7%

Cash flow

Operating cash generation, capital expenditure, free cash flow, buybacks, dividends, and cash movement.

8 / 20 Quarterly

Period	Operating cash flow	CapEx	Free cash flow	Net income	Stock comp	Debt issuance	Dividends paid	Buybacks	Change in cash	FCF QoQ
Q2 FY2026				$375.00M
Q4 FY2025				$334.00M
Q3 FY2025				$305.00M
Q2 FY2025				$233.00M
Q4 FY2024				$299.00M
Q1 FY2025				$299.00M
Q3 FY2024				$299.00M
Q2 FY2024				$248.00M

Valuation and returns

Enterprise value: $37.33B; TECHi computed

Return on equity: 83.41%; Market data source

Return on assets: 11.38%; Market data source

Debt / equity: 1.66; Current ratio 1.24

Ratio values use provider-attributed fields when available and otherwise fall back to TECHi statement math from the visible rows on this page.

Annual revenue and income multiples

Annual sales and income multiple reads use the latest annual statement when available, then fall back to trailing-twelve-month statement math from the visible quarterly rows.

Annual revenue base: $6.62B; Annual statement 2026-01-23

Annual income base: $1.17B; Annual statement 2026-01-23

Market cap / annual revenue: 5.50; Live market value divided by annual revenue

Market cap / annual income: 31.10; Live market value divided by annual net income

Annual sales and income multiple

EV / annual revenue5.64

EV / annual operating income24.82

Market capitalization bridge

Market cap / annual revenue5.50

Market cap / annual income31.10

TTM valuation multiples

TTM revenue: $7.00B; Trailing twelve months

TTM EBIT: $1.63B; TTM operating income

Market cap / TTM revenue: 5.20; Live market value divided by trailing twelve months revenue

EV / TTM revenue: 5.33; Enterprise value divided by trailing twelve months revenue

Live market value is matched against trailing-twelve-month statement bases first so the multiple moves with the tape instead of anchoring to stale fiscal-year rows.

Profit multiples

Market cap / TTM net income29.20

EV / TTM EBIT22.96

Revenue, net income, and free cash flow

Revenue$2.02BNet income$375.00M

Q1 FY2025Q3 FY2025Q2 FY2026

Quarterly statement rows, shown on one common dollar scale so margin compression and cash conversion stand out quickly.

Efficiency

Growth vs cost pressure

Revenue growth YoY+23.4%

Debt growth YoY-23.1%

Operating expense growth YoY+19.4%

Quarterly margin heatmap

Gross margin

Q1 FY2025

69.77%

Q4 FY2024

69.77%

Q2 FY2025

70.43%

Q3 FY2025

71.96%

Q4 FY2025

70.58%

Q2 FY2026

70.07%

Operating margin

Q1 FY2025

22.06%

Q4 FY2024

22.06%

Q2 FY2025

19.82%

Q3 FY2025

23.40%

Q4 FY2025

25.34%

Q2 FY2026

23.90%

Net margin

Q1 FY2025

18.22%

Q4 FY2024

18.22%

Q2 FY2025

14.95%

Q3 FY2025

17.89%

Q4 FY2025

19.50%

Q2 FY2026

18.52%

Latest quarter expense mix

Cost of revenue$606.00M

Operating expenses$935.00M

R&D$274.00M

Profit bridge

EBIT$484.00M

Pretax income$484.00M

Tax expense$109.00M

Other income statement lines

Income before tax$484.00M

Income tax expense$109.00M

Balance sheet · Q2 FY2026

Cash & equivalents: $1.57B

Total debt: $2.49B

Net cash: -$915.00M; Net debt position

Total equity: $1.50B

Balance sheet detail

Current assets: $5.67B

Current liabilities: $4.57B

Inventory: $375.00M

Receivables: $966.00M

Property, plant & equipment: $663.00M

Current debt: $550.00M

Long-term debt: $1.94B

Debt and liquidity

Debt / revenuei0.36

Debt / income2.00

Cash / debt0.63

Quick ratioi0.56

Cash + short-term investments + receivables / current liabilities

Cash generation

Frequently asked

Common questions.

What financial data is available for NTAP?

The NTAP Financials page renders only the current income-statement, balance-sheet, cash-flow, or fund rows supplied for NetApp Inc. Missing modules and empty line items are omitted.

How current are NTAP's financial statements?

Each visible statement row keeps its reported period and provider attribution. The route redirects to the main quote when no usable financial or fund data remains.

What is NetApp Inc's reported net margin?

NetApp Inc's fresh reported margin field is 17.81%. The Financials page shows the supporting period data currently available for NTAP.