NETAPP INC (NTAP) Stock Fundamental Analysis

USA • Nasdaq • NASDAQ:NTAP • US64110D1046

103.34 USD
+3.75 (+3.77%)
At close: Feb 6, 2026
103.34 USD
0 (0%)
After Hours: 2/6/2026, 5:20:02 PM
Fundamental Rating

7

We assign a fundamental rating of 7 out of 10 to NTAP. NTAP was compared to 34 industry peers in the Technology Hardware, Storage & Peripherals industry. While NTAP belongs to the best of the industry regarding profitability, there are some minor concerns on its financial health. A decent growth rate in combination with a cheap valuation! Better keep an eye on NTAP. NTAP also has an excellent dividend rating. With these ratings, NTAP could be worth investigating further for value and dividend investing!.


Dividend Valuation Growth Profitability Health

9

1. Profitability

1.1 Basic Checks

  • NTAP had positive earnings in the past year.
  • In the past year NTAP had a positive cash flow from operations.
  • NTAP had positive earnings in each of the past 5 years.
  • In the past 5 years NTAP always reported a positive cash flow from operatings.
NTAP Yearly Net Income VS EBIT VS OCF VS FCFNTAP Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 500M 1B 1.5B

1.2 Ratios

  • NTAP's Return On Assets of 12.22% is amongst the best of the industry. NTAP outperforms 88.24% of its industry peers.
  • Looking at the Return On Equity, with a value of 119.37%, NTAP belongs to the top of the industry, outperforming 94.12% of the companies in the same industry.
  • NTAP's Return On Invested Capital of 19.95% is amongst the best of the industry. NTAP outperforms 85.29% of its industry peers.
  • The Average Return On Invested Capital over the past 3 years for NTAP is in line with the industry average of 16.39%.
  • The last Return On Invested Capital (19.95%) for NTAP is above the 3 year average (17.30%), which is a sign of increasing profitability.
Industry RankSector Rank
ROA 12.22%
ROE 119.37%
ROIC 19.95%
ROA(3y)11.3%
ROA(5y)10.21%
ROE(3y)103.33%
ROE(5y)105.68%
ROIC(3y)17.3%
ROIC(5y)16.23%
NTAP Yearly ROA, ROE, ROICNTAP Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 100 200 300

1.3 Margins

  • NTAP's Profit Margin of 17.73% is amongst the best of the industry. NTAP outperforms 91.18% of its industry peers.
  • In the last couple of years the Profit Margin of NTAP has grown nicely.
  • NTAP has a Operating Margin of 22.60%. This is amongst the best in the industry. NTAP outperforms 91.18% of its industry peers.
  • NTAP's Operating Margin has improved in the last couple of years.
  • NTAP has a better Gross Margin (70.26%) than 100.00% of its industry peers.
  • In the last couple of years the Gross Margin of NTAP has remained more or less at the same level.
Industry RankSector Rank
OM 22.6%
PM (TTM) 17.73%
GM 70.26%
OM growth 3Y4.43%
OM growth 5Y4.81%
PM growth 3Y6.76%
PM growth 5Y3.58%
GM growth 3Y1.67%
GM growth 5Y0.95%
NTAP Yearly Profit, Operating, Gross MarginsNTAP Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 20 40 60

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ROAROEROICOperating and Profit MarginShow most profitable peers

6

2. Health

2.1 Basic Checks

  • NTAP has a Return on Invested Capital (ROIC), which is well above the Cost of Capital (WACC), which means it is creating value.
  • The number of shares outstanding for NTAP has been reduced compared to 1 year ago.
  • Compared to 5 years ago, NTAP has less shares outstanding
  • Compared to 1 year ago, NTAP has a worse debt to assets ratio.
NTAP Yearly Shares OutstandingNTAP Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 50M 100M 150M 200M 250M
NTAP Yearly Total Debt VS Total AssetsNTAP Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2B 4B 6B 8B 10B

2.2 Solvency

  • NTAP has an Altman-Z score of 2.72. This is not the best score and indicates that NTAP is in the grey zone with still only limited risk for bankruptcy at the moment.
  • NTAP has a Altman-Z score of 2.72. This is in the better half of the industry: NTAP outperforms 79.41% of its industry peers.
  • NTAP has a debt to FCF ratio of 1.48. This is a very positive value and a sign of high solvency as it would only need 1.48 years to pay back of all of its debts.
  • NTAP has a better Debt to FCF ratio (1.48) than 85.29% of its industry peers.
  • NTAP has a Debt/Equity ratio of 2.52. This is a high value indicating a heavy dependency on external financing.
  • Looking at the Debt to Equity ratio, with a value of 2.52, NTAP is doing worse than 64.71% of the companies in the same industry.
  • Although NTAP does not score too well on debt/equity it has very limited outstanding debt, which is well covered by the FCF. We will not put too much weight on the debt/equity number as it may be because of low equity, which could be a consequence of a share buyback program for instance. This needs to be investigated.
Industry RankSector Rank
Debt/Equity 2.52
Debt/FCF 1.48
Altman-Z 2.72
ROIC/WACC2.5
WACC7.97%
NTAP Yearly LT Debt VS Equity VS FCFNTAP Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 500M 1B 1.5B 2B 2.5B

2.3 Liquidity

  • NTAP has a Current Ratio of 1.34. This is a normal value and indicates that NTAP is financially healthy and should not expect problems in meeting its short term obligations.
  • Looking at the Current ratio, with a value of 1.34, NTAP is in line with its industry, outperforming 47.06% of the companies in the same industry.
  • A Quick Ratio of 1.30 indicates that NTAP should not have too much problems paying its short term obligations.
  • NTAP has a better Quick ratio (1.30) than 64.71% of its industry peers.
Industry RankSector Rank
Current Ratio 1.34
Quick Ratio 1.3
NTAP Yearly Current Assets VS Current LiabilitesNTAP Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2B 4B 6B

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WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

4

3. Growth

3.1 Past

  • NTAP shows a small growth in Earnings Per Share. In the last year, the EPS has grown by 3.77%.
  • NTAP shows quite a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 12.19% yearly.
  • Looking at the last year, NTAP shows a small growth in Revenue. The Revenue has grown by 2.53% in the last year.
  • NTAP shows a small growth in Revenue. Measured over the last years, the Revenue has been growing by 3.96% yearly.
EPS 1Y (TTM)3.77%
EPS 3Y11.18%
EPS 5Y12.19%
EPS Q2Q%9.63%
Revenue 1Y (TTM)2.53%
Revenue growth 3Y1.32%
Revenue growth 5Y3.96%
Sales Q2Q%2.83%

3.2 Future

  • Based on estimates for the next years, NTAP will show a quite strong growth in Earnings Per Share. The EPS will grow by 8.81% on average per year.
  • Based on estimates for the next years, NTAP will show a small growth in Revenue. The Revenue will grow by 4.33% on average per year.
EPS Next Y11.01%
EPS Next 2Y9.6%
EPS Next 3Y8.81%
EPS Next 5YN/A
Revenue Next Year3.03%
Revenue Next 2Y3.94%
Revenue Next 3Y4.33%
Revenue Next 5YN/A

3.3 Evolution

  • When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
  • The Revenue growth rate is stable: in the next years the growth will be about the same than in the last years.
NTAP Yearly Revenue VS EstimatesNTAP Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2B 4B 6B
NTAP Yearly EPS VS EstimatesNTAP Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2 4 6 8

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Find the best growth stocksShow best growing peers

7

4. Valuation

4.1 Price/Earnings Ratio

  • Based on the Price/Earnings ratio of 13.89, the valuation of NTAP can be described as correct.
  • Compared to the rest of the industry, the Price/Earnings ratio of NTAP indicates a rather cheap valuation: NTAP is cheaper than 85.29% of the companies listed in the same industry.
  • When comparing the Price/Earnings ratio of NTAP to the average of the S&P500 Index (27.67), we can say NTAP is valued slightly cheaper.
  • A Price/Forward Earnings ratio of 11.83 indicates a reasonable valuation of NTAP.
  • Compared to the rest of the industry, the Price/Forward Earnings ratio of NTAP indicates a somewhat cheap valuation: NTAP is cheaper than 70.59% of the companies listed in the same industry.
  • NTAP is valuated cheaply when we compare the Price/Forward Earnings ratio to 27.20, which is the current average of the S&P500 Index.
Industry RankSector Rank
PE 13.89
Fwd PE 11.83
NTAP Price Earnings VS Forward Price EarningsNTAP Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 5 10 15 20 25

4.2 Price Multiples

  • 82.35% of the companies in the same industry are more expensive than NTAP, based on the Enterprise Value to EBITDA ratio.
  • NTAP's Price/Free Cash Flow ratio is a bit cheaper when compared to the industry. NTAP is cheaper than 76.47% of the companies in the same industry.
Industry RankSector Rank
P/FCF 12.21
EV/EBITDA 10.61
NTAP Per share dataNTAP EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 10 20 30

4.3 Compensation for Growth

  • NTAP's PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a correct valuation of the company.
  • The excellent profitability rating of NTAP may justify a higher PE ratio.
PEG (NY)1.26
PEG (5Y)1.14
EPS Next 2Y9.6%
EPS Next 3Y8.81%

More info and screens

Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

7

5. Dividend

5.1 Amount

  • NTAP has a Yearly Dividend Yield of 2.12%.
  • Compared to an average industry Dividend Yield of 0.67, NTAP pays a better dividend. On top of this NTAP pays more dividend than 88.24% of the companies listed in the same industry.
  • NTAP's Dividend Yield is comparable with the S&P500 average which is at 1.82.
Industry RankSector Rank
Dividend Yield 2.12%

5.2 History

  • The dividend of NTAP has a limited annual growth rate of 1.72%.
  • NTAP has been paying a dividend for at least 10 years, so it has a reliable track record.
  • NTAP has not decreased its dividend for at least 10 years, so it has a reliable track record of non decreasing dividend.
Dividend Growth(5Y)1.72%
Div Incr Years1
Div Non Decr Years11
NTAP Yearly Dividends per shareNTAP Yearly Dividends per shareYearly Dividends per share 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 0.5 1 1.5 2

5.3 Sustainability

  • NTAP pays out 35.51% of its income as dividend. This is a sustainable payout ratio.
  • NTAP's earnings are growing more than its dividend. This makes the dividend growth sustainable.
DP35.51%
EPS Next 2Y9.6%
EPS Next 3Y8.81%
NTAP Yearly Income VS Free CF VS DividendNTAP Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 500M 1B 1.5B
NTAP Dividend Payout.NTAP Dividend Payout, showing the Payout Ratio.NTAP Dividend Payout.PayoutRetained Earnings

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NETAPP INC

NASDAQ:NTAP (2/6/2026, 5:20:02 PM)

After market: 103.34 0 (0%)

103.34

+3.75 (+3.77%)

Chartmill FA Rating
GICS IndustryGroupTechnology Hardware & Equipment
GICS IndustryTechnology Hardware, Storage & Peripherals
Earnings (Last)11-25
Earnings (Next)02-26
Inst Owners100.11%
Inst Owner Change-1.99%
Ins Owners0.23%
Ins Owner Change0.44%
Market Cap20.47B
Revenue(TTM)6.64B
Net Income(TTM)1.18B
Analysts71.85
Price Target125.69 (21.63%)
Short Float %8.26%
Short Ratio7.18
Dividend
Industry RankSector Rank
Dividend Yield 2.12%
Yearly Dividend2.08
Dividend Growth(5Y)1.72%
DP35.51%
Div Incr Years1
Div Non Decr Years11
Ex-Date01-02
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)2.72%
Min EPS beat(2)-1.15%
Max EPS beat(2)6.58%
EPS beat(4)1
Avg EPS beat(4)0.83%
Min EPS beat(4)-1.89%
Max EPS beat(4)6.58%
EPS beat(8)4
Avg EPS beat(8)2.83%
EPS beat(12)8
Avg EPS beat(12)4.54%
EPS beat(16)12
Avg EPS beat(16)5.61%
Revenue beat(2)0
Avg Revenue beat(2)-1.06%
Min Revenue beat(2)-1.14%
Max Revenue beat(2)-0.99%
Revenue beat(4)0
Avg Revenue beat(4)-2.17%
Min Revenue beat(4)-5.03%
Max Revenue beat(4)-0.99%
Revenue beat(8)0
Avg Revenue beat(8)-1.64%
Revenue beat(12)2
Avg Revenue beat(12)-1.67%
Revenue beat(16)3
Avg Revenue beat(16)-1.64%
PT rev (1m)0%
PT rev (3m)2.68%
EPS NQ rev (1m)0.06%
EPS NQ rev (3m)0.46%
EPS NY rev (1m)-0.02%
EPS NY rev (3m)2.01%
Revenue NQ rev (1m)-0.06%
Revenue NQ rev (3m)-0.23%
Revenue NY rev (1m)0%
Revenue NY rev (3m)0.03%
Valuation
Industry RankSector Rank
PE 13.89
Fwd PE 11.83
P/S 3.08
P/FCF 12.21
P/OCF 11
P/B 20.76
P/tB N/A
EV/EBITDA 10.61
EPS(TTM)7.44
EY7.2%
EPS(NY)8.73
Fwd EY8.45%
FCF(TTM)8.46
FCFY8.19%
OCF(TTM)9.39
OCFY9.09%
SpS33.51
BVpS4.98
TBVpS-8.97
PEG (NY)1.26
PEG (5Y)1.14
Graham Number28.87
Profitability
Industry RankSector Rank
ROA 12.22%
ROE 119.37%
ROCE 24.35%
ROIC 19.95%
ROICexc 39.06%
ROICexgc 319.97%
OM 22.6%
PM (TTM) 17.73%
GM 70.26%
FCFM 25.25%
ROA(3y)11.3%
ROA(5y)10.21%
ROE(3y)103.33%
ROE(5y)105.68%
ROIC(3y)17.3%
ROIC(5y)16.23%
ROICexc(3y)40.17%
ROICexc(5y)45.98%
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)21.12%
ROCE(5y)19.81%
ROICexgc growth 3YN/A
ROICexgc growth 5YN/A
ROICexc growth 3Y-0.26%
ROICexc growth 5Y0.5%
OM growth 3Y4.43%
OM growth 5Y4.81%
PM growth 3Y6.76%
PM growth 5Y3.58%
GM growth 3Y1.67%
GM growth 5Y0.95%
F-Score5
Asset Turnover0.69
Health
Industry RankSector Rank
Debt/Equity 2.52
Debt/FCF 1.48
Debt/EBITDA 1.45
Cap/Depr 83.64%
Cap/Sales 2.77%
Interest Coverage 18.52
Cash Conversion 108.14%
Profit Quality 142.4%
Current Ratio 1.34
Quick Ratio 1.3
Altman-Z 2.72
F-Score5
WACC7.97%
ROIC/WACC2.5
Cap/Depr(3y)75.43%
Cap/Depr(5y)84.21%
Cap/Sales(3y)2.93%
Cap/Sales(5y)3.04%
Profit Quality(3y)112.04%
Profit Quality(5y)120.33%
High Growth Momentum
Growth
EPS 1Y (TTM)3.77%
EPS 3Y11.18%
EPS 5Y12.19%
EPS Q2Q%9.63%
EPS Next Y11.01%
EPS Next 2Y9.6%
EPS Next 3Y8.81%
EPS Next 5YN/A
Revenue 1Y (TTM)2.53%
Revenue growth 3Y1.32%
Revenue growth 5Y3.96%
Sales Q2Q%2.83%
Revenue Next Year3.03%
Revenue Next 2Y3.94%
Revenue Next 3Y4.33%
Revenue Next 5YN/A
EBIT growth 1Y6.61%
EBIT growth 3Y5.81%
EBIT growth 5Y8.96%
EBIT Next Year20.07%
EBIT Next 3Y9.61%
EBIT Next 5YN/A
FCF growth 1Y62.72%
FCF growth 3Y10.75%
FCF growth 5Y7.41%
OCF growth 1Y55%
OCF growth 3Y7.54%
OCF growth 5Y7.28%

NETAPP INC / NTAP FAQ

What is the ChartMill fundamental rating of NETAPP INC (NTAP) stock?

ChartMill assigns a fundamental rating of 7 / 10 to NTAP.


What is the valuation status of NETAPP INC (NTAP) stock?

ChartMill assigns a valuation rating of 7 / 10 to NETAPP INC (NTAP). This can be considered as Undervalued.


Can you provide the profitability details for NETAPP INC?

NETAPP INC (NTAP) has a profitability rating of 9 / 10.


Can you provide the financial health for NTAP stock?

The financial health rating of NETAPP INC (NTAP) is 6 / 10.


What is the expected EPS growth for NETAPP INC (NTAP) stock?

The Earnings per Share (EPS) of NETAPP INC (NTAP) is expected to grow by 11.01% in the next year.