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, 8:00:01 PM
Overview Stock Chart Technical Analysis Fundamental Analysis Analyst Ratings Earnings Estimates Financials Ownership News
Fundamental Rating

7

NTAP gets a fundamental rating of 7 out of 10. The analysis compared the fundamentals against 35 industry peers in the Technology Hardware, Storage & Peripherals industry. While NTAP has a great profitability rating, there are some minor concerns on its financial health. NTAP scores decently on growth, while it is valued quite cheap. This could make an interesting combination. Finally 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.
  • NTAP had a positive operating cash flow in the past year.
  • Each year in the past 5 years NTAP has been profitable.
  • NTAP had a positive operating cash flow in each of the past 5 years.
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

  • With an excellent Return On Assets value of 12.22%, NTAP belongs to the best of the industry, outperforming 88.57% of the companies in the same industry.
  • NTAP has a better Return On Equity (119.37%) than 94.29% of its industry peers.
  • The Return On Invested Capital of NTAP (19.95%) is better than 85.71% of its industry peers.
  • Measured over the past 3 years, the Average Return On Invested Capital 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

  • Looking at the Profit Margin, with a value of 17.73%, NTAP belongs to the top of the industry, outperforming 91.43% of the companies in the same industry.
  • NTAP's Profit Margin has improved in the last couple of years.
  • NTAP has a Operating Margin of 22.60%. This is amongst the best in the industry. NTAP outperforms 91.43% of its industry peers.
  • In the last couple of years the Operating Margin of NTAP has grown nicely.
  • The Gross Margin of NTAP (70.26%) is better than 100.00% of its industry peers.
  • NTAP's Gross Margin has been stable in the last couple of years.
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.
  • Compared to 1 year ago, NTAP has less shares outstanding
  • The number of shares outstanding for NTAP has been reduced compared to 5 years ago.
  • 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

  • An Altman-Z score of 2.77 indicates that NTAP is not a great score, but indicates only limited risk for bankruptcy at the moment.
  • Looking at the Altman-Z score, with a value of 2.77, NTAP is in the better half of the industry, outperforming 77.14% of the companies in the same industry.
  • The Debt to FCF ratio of NTAP is 1.48, which is an excellent value as it means it would take NTAP, only 1.48 years of fcf income to pay off all of its debts.
  • NTAP has a Debt to FCF ratio of 1.48. This is amongst the best in the industry. NTAP outperforms 85.71% of its industry peers.
  • A Debt/Equity ratio of 2.52 is on the high side and indicates that NTAP has dependencies on debt financing.
  • With a Debt to Equity ratio value of 2.52, NTAP is not doing good in the industry: 62.86% of the companies in the same industry are doing better.
  • Even though the debt/equity ratio score it not favorable for NTAP, it has very limited outstanding debt, so we won't put too much weight on the DE evaluation.
Industry RankSector Rank
Debt/Equity 2.52
Debt/FCF 1.48
Altman-Z 2.77
ROIC/WACC2.5
WACC7.98%
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.
  • The Current ratio of NTAP (1.34) is comparable to the rest of the industry.
  • A Quick Ratio of 1.30 indicates that NTAP should not have too much problems paying its short term obligations.
  • Looking at the Quick ratio, with a value of 1.30, NTAP is in the better half of the industry, outperforming 65.71% of the companies in the same industry.
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

  • The Earnings Per Share has been growing slightly by 3.77% over the past year.
  • The Earnings Per Share has been growing by 12.19% on average over the past years. This is quite good.
  • The Revenue has been growing slightly by 2.53% in the past year.
  • The Revenue has been growing slightly by 3.96% on average over the past years.
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

  • NTAP is expected to show quite a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 8.75% yearly.
  • 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 2Y9.51%
EPS Next 3Y8.75%
EPS Next 5YN/A
Revenue Next Year3.03%
Revenue Next 2Y3.94%
Revenue Next 3Y4.33%
Revenue Next 5YN/A

3.3 Evolution

  • The EPS growth rate is decreasing: in the next years the growth will be less than in the last years.
  • When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is stable.
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

  • With a Price/Earnings ratio of 13.89, NTAP is valued correctly.
  • NTAP's Price/Earnings ratio is rather cheap when compared to the industry. NTAP is cheaper than 85.71% of the companies in the same industry.
  • Compared to an average S&P500 Price/Earnings ratio of 27.92, NTAP is valued rather cheaply.
  • A Price/Forward Earnings ratio of 11.85 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 71.43% of the companies listed in the same industry.
  • When comparing the Price/Forward Earnings ratio of NTAP to the average of the S&P500 Index (27.78), we can say NTAP is valued rather cheaply.
Industry RankSector Rank
PE 13.89
Fwd PE 11.85
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

  • Based on the Enterprise Value to EBITDA ratio, NTAP is valued a bit cheaper than 80.00% of the companies in the same industry.
  • Based on the Price/Free Cash Flow ratio, NTAP is valued a bit cheaper than 77.14% of the companies in the same industry.
Industry RankSector Rank
P/FCF 12.21
EV/EBITDA 11.05
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.
  • NTAP has an outstanding profitability rating, which may justify a higher PE ratio.
PEG (NY)1.26
PEG (5Y)1.14
EPS Next 2Y9.51%
EPS Next 3Y8.75%

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 2.09%. Purely for dividend investing, there may be better candidates out there.
  • NTAP's Dividend Yield is rather good when compared to the industry average which is at 0.66. NTAP pays more dividend than 88.57% of the companies in the same industry.
  • Compared to an average S&P500 Dividend Yield of 1.81, NTAP has a dividend comparable with the average S&P500 company.
Industry RankSector Rank
Dividend Yield 2.09%

5.2 History

  • The dividend of NTAP has a limited annual growth rate of 1.72%.
  • NTAP has paid a dividend for at least 10 years, which is 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

  • 35.51% of the earnings are spent on dividend by NTAP. This is a low number and sustainable payout ratio.
  • The dividend of NTAP is growing, but earnings are growing more, so the dividend growth is sustainable.
DP35.51%
EPS Next 2Y9.51%
EPS Next 3Y8.75%
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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Find the best dividend stocksShow peers with best dividend

NETAPP INC

NASDAQ:NTAP (2/6/2026, 8:00:01 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 Target125.22 (21.17%)
Short Float %8.26%
Short Ratio7.18
Dividend
Industry RankSector Rank
Dividend Yield 2.09%
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)-0.38%
PT rev (3m)2.29%
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 11.85
P/S 3.08
P/FCF 12.21
P/OCF 11
P/B 20.76
P/tB N/A
EV/EBITDA 11.05
EPS(TTM)7.44
EY7.2%
EPS(NY)8.72
Fwd EY8.44%
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 2.77
F-Score5
WACC7.98%
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 2Y9.51%
EPS Next 3Y8.75%
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.