NTAP
NetApp
$187.66
▼ 2.0%Updated Aug 7, 11:30 AM ET
NTAP at a glance — five pillars scored 0–100 from real filed financials.
Overall: Neutral · 52/100. A wider, greener shape means more pillars look healthy. Dividends scores 0 when a company pays none — that is a choice, not a flaw.
▲ Up 55.4% over the last 12 months
Market Cap
$30.20B
P/E
28.22x
Forward P/E (est.)
25.22x
ROE
114.2%
Revenue Growth
5.4%
EPS Growth
11.9%
Profit Margin
18.4%
FCF Yield
4.2%
Debt / Equity
1.84x
ROIC
34.0%
Interest Coverage
26.16x
Current Ratio
1.44x
Dividend Yield
1.3%
Implied Growth (rev. DCF)
2.6%
Rating Score
52/100
NetApp (NTAP) is a large-cap company in the Technology Hardware, Storage & Peripherals industry, part of the Information Technology sector of the S&P 500, with a market value around $30.20B.
In its latest reported year it generated about $6.92B in revenue and $1.28B in net profit.
Our model rates NTAP Neutral (52/100) on growth, profitability, financial health, and valuation. The summary below is built from its filed financials and current ratios and refreshes automatically.
Evidence of durable competitive advantage in the filed financials (10 years of history).
The filed history looks like a business competitors struggle to attack: high and steady margins, revenue that grows through cycles, and strong returns on capital.
70.6% average over the last 3 years
±3.1 pts around 66.6% across 10 years
grew in 7 of the last 9 year-over-year periods
positive in 10 of 10 years
34.0% latest fiscal year
A moat can't be proven by numbers alone — this scores the evidence a durable advantage leaves behind (pricing power, consistency, returns on capital), computed the same way for every stock. Pair it with the business overview before concluding anything.
Technical analysis reads price and volume to judge momentum and timing. It complements the fundamentals above — it does not replace them. Here is what NTAP's chart says today, with each tool explained.
Trend — moving averages. A moving average is the average closing price over a window, which smooths out daily noise. NTAP trades near $187.66, above its 50-day average ($139.91) and 200-day average ($116.31). Price above both averages, with the shorter one above the longer, is the textbook definition of an uptrend — momentum favours buyers.
Momentum — RSI. The Relative Strength Index runs 0–100 and measures how strong recent gains are versus losses. Above 70 is "overbought", below 30 "oversold". At 38 it is in neutral territory — neither stretched nor washed out.
MACD. MACD compares two moving averages to flag shifts in momentum. Its histogram is currently negative — short-term momentum is fading.
Volatility — ATR. Average True Range is the typical daily move. NTAP's is $6.35 (~3.4% of price), so swings of about that size each day are normal — handy for setting a stop that isn't too tight.
Support & resistance. Over the last month NTAP found buyers near $149.27 (support) and sellers near $180.00 (resistance); its 52-week range is $93.69–$192.83. A decisive break beyond either edge often marks the next move.
Volume. The latest session traded 0.6× the 20-day average — lighter than usual, so the move carries less conviction. Rising volume on up-days suggests real buying; on down-days, real selling.
Educational information to help you read a chart — not a recommendation or a forecast. It updates daily as the price and indicators change.
4Y CAGR
2.3%
Revenue moved from $5.49B in 2017 to $6.92B in 2026, a 2.6% compound annual growth rate. The most recent year grew a steady 5.4% year over year. Slower, mature growth is common for established businesses.
Gross Margin
70.7%
Operating Margin
24.2%
Net Margin
18.4%
ROE
114.2%
NetApp keeps about 18.4% of each sales dollar as net profit, with a 70.7% gross margin and 24.2% operating margin. Return on equity is 114.2% and return on invested capital about 34.0%. Margins this wide usually signal pricing power or a cost advantage.
Total Debt
$2.49B
Net Debt
$417.00M
Net Debt / EBITDA
0.25x
Debt / Equity
1.84x
Leverage: debt-to-equity is 1.8x, and operating profit covers interest about 26.2x, with a current ratio of 1.4x. That is elevated leverage, which raises risk if earnings or rates move against it. It carries roughly $2.49B of total debt against $2.07B of cash.
Operating CF
$2.07B
Free Cash Flow
$1.87B
FCF Margin
27.0%
In the latest year NetApp produced about $2.07B of operating cash flow and $1.87B of free cash flow after capital spending. That is a free-cash-flow yield of about 4.2% on today's price. Strong cash generation funds dividends, buybacks, and reinvestment.
Can the payout survive a bad year? Scored from filed cash flow, earnings coverage, and the raise/cut record.
The payout is comfortably covered by cash the business actually generates, with a raise habit behind it.
Dividend yield
1.3%
Per share (latest FY)
$2.08
Total paid (latest FY)
$413.00M
History on record
10 years
dividend uses 22% of free cash flow
32% of net income paid out
no current raise streak
no cuts in the last 10 years on record
Coverage uses the latest fiscal year as filed with the SEC; the streak counts total dollars paid (per-share figures can carry split artifacts). Educational information, not income advice.
P/E
28.22x
P/S
4.47x
P/B
18.48x
EV / EBITDA
—
NTAP trades at 28.2x trailing earnings (about 25.2x on estimated forward earnings), 4.5x sales, and 18.5x book value. Reverse-engineering today's price implies the market expects roughly 2.6% long-term free-cash-flow growth. That is a premium multiple that needs growth to justify it.
A two-stage discounted cash flow on real SEC-filed free cash flow — the intrinsic-value anchor professional analysts triangulate from.
DCF fair value / share
$176.96
Current price
$187.66
Starting FCF (latest 10-K)
$1.87B
Growth, years 1–5
5.4%
Fade to terminal, years 6–10
2.5%
Discount rate
9.0%
Cash flows grow at the stage-1 rate (trailing revenue growth, capped at 20%) for five years, fade to 2.5% by year 10, and continue at that rate forever (Gordon terminal value), all discounted at 9.0%. Small changes in assumptions move the result a lot — treat this as one reference point, not a target price. Educational only, not investment advice.
Where NTAP sits versus its Information Technology sector peers in the S&P 500.
Bands show the middle half (25th–75th percentile) of the 98 Information Technology companies in the S&P 500 — the peer-relative anchor professional comps analysis uses. Context only — not investment advice.
How NTAP stacks up against its Information Technology peers — valuation, profitability, and growth versus the sector median.
In the Information Technology sector (230 S&P 500 companies), NTAP ranks #61 of 230 by our overall rating. It trades at a discount versus the sector on earnings (28.2x P/E vs. 38.9x median) with a higher return on equity (114.2% vs. 17.5%) and slower revenue growth (5.4% vs. 17.7%).
P/E vs sector
28.2x
median 38.9x
ROE vs sector
114.2%
median 17.5%
Growth vs sector
5.4%
median 17.7%
Sector rank
#61
of 230 by rating
Valuation vs. quality map
The sweet spot is upper-left: more profitable (higher ROE) for a lower P/E. Dashed lines mark the sector median.
Peers are the closest Information Technology companies by sub-industry and size. Sector median is across all 230 S&P 500 names in the sector. Educational, not a recommendation.
Project revenue → earnings → price. Edit the assumptions to build your own case.
2030 price target (Base Case)
$0.00 – $0.00
vs. $187.66 today · expected CAGR -2% – 8%
| Metric | 2026 | 2027 | 2028 | 2029 | 2030 |
|---|---|---|---|---|---|
| Revenue | $7.27B | $7.63B | $8.02B | $8.42B | $8.84B |
| Net income | $1.31B | $1.37B | $1.44B | $1.52B | $1.59B |
| EPS | $8.13 | $8.54 | $8.97 | $9.41 | $9.88 |
| Share price (low) | $138.24 | $145.15 | $152.41 | $160.03 | $168.03 |
| Share price (high) | $227.68 | $239.07 | $251.02 | $263.57 | $276.75 |
| CAGR (low–high) | -26% / 21% | -12% / 13% | -7% / 10% | -4% / 9% | -2% / 8% |
Educational model on sample fundamentals — not a forecast or investment advice. Outputs are only as good as your assumptions.
The case for NTAP:
- High net margins (18.4%) point to pricing power or efficiency.
- Strong return on equity (114.2%) shows capital is put to work well.
- Healthy free-cash-flow yield (~4.2%) funds buybacks and dividends.
The case against NTAP:
- Elevated leverage (debt/equity 1.8x) adds financial risk.
- Like any single stock, it is exposed to competition, the economic cycle, and shifts in its end markets.
Balance-sheet risk — debt/equity of 1.8x magnifies the impact of higher rates or weaker earnings.
Market risk — sector rotation, the economic cycle, and broad sentiment move the stock regardless of fundamentals.
On balance, the picture is mixed: NetApp is a large-cap information technology business growing at a mature pace, with solid profitability, and a heavier debt load to watch. It trades at 28.2x earnings, which our model scores Neutral (52/100). Weigh this against your own goals and time horizon — this is educational information, not a recommendation.
Analyst Ratings
What 28 Wall Street analysts covering NTAP recommend (August 2026). Consensus is a useful sanity check — not a substitute for your own homework.
Analysts have turned more positive over the last three months (+4 pts of buy ratings).
Latest SEC Filings
NTAP's most recent filings, straight from SEC EDGAR. Annual and quarterly reports are the deep dives; 8-Ks flag material events the moment they happen.
In the Idea Lab
NTAP — frequently asked questions
Is NTAP a good stock to buy?
We don't give buy or sell advice. Our model rates NetApp Neutral (52/100) based on its growth, profitability, financial health, and valuation — use that as a research starting point and make your own decision.
What is NTAP's rating on The Stocks School?
NetApp currently scores 52/100 (Neutral) on our transparent model, which weighs real fundamentals: growth, margins, returns on capital, balance-sheet strength, and valuation.
How our ratings work →Where does NTAP's data come from?
Live price data plus real fundamentals and 5-year financials pulled directly from NetApp's SEC filings — refreshed automatically, not hand-entered.
How is the 5-year projection for NTAP calculated?
It's a scenario model: it grows revenue at an assumed rate, applies a profit margin and a valuation multiple, and shows the resulting share-price range. The assumptions are yours to change — it's a tool for thinking, not a prediction.
Is this NTAP analysis financial advice?
No. Everything on this page is educational research, not financial advice or a recommendation to buy or sell NTAP. Always do your own research and consider a licensed professional.
Data notice. Fundamentals and financial statements are sourced from company filings (SEC EDGAR) and market-data providers; prices and market caps refresh on trading days and may be delayed. Ratings, projections, technical signals, and written summaries are model- or rule-generated for education and may simplify or lag the latest filings.
Not advice. Nothing on this page is investment advice or a recommendation to buy, hold, or sell any security. Do your own research and consult a licensed financial professional before investing.