NetApp, Inc.
115.91-1.28 (-1.09%)
Oct 28, 4:00:00 PM EDT · NasdaqGS · NTAP · USD
Key Stats
Market Cap
23.14BP/E (TTM)
20.52Basic EPS (TTM)
5.65Dividend Yield
0.02%Recent Filings
8-K
NetApp boosts equity reserves
NetApp's stockholders approved amendments to its Employee Stock Purchase Plan and 2021 Equity Incentive Plan at the September 10, 2025 annual meeting, adding 4 million and 5 million shares respectively to support employee incentives. The board also hiked outside director RSU awards, lifting initial grants from $275,000 to $285,000 and annual ones from $275,000 to $285,000. All directors were re-elected; exec pay and auditor Deloitte were ratified. These moves bolster talent retention amid tight markets.
8-K
NetApp Q1 revenues up 1%
NetApp kicked off fiscal 2026 with $1.56 billion in net revenues, up 1% year-over-year, while all-flash array sales surged 6% to $893 million, securing the top market share spot. Billings rose 4% to $1.51 billion, fueling record $673 million operating cash flow and $404 million returned to shareholders. Yet cash dipped after debt repayment. Guidance projects $1.615-$1.765 billion for Q2. Momentum builds in AI infrastructure.
10-Q
Q1 FY2026 results
NetApp's Q1 FY2026 revenue edged up 1% y/y to $1.559B, driven by 4% services growth to $905M while product sales dipped 2% to $654M; gross margin held steady at 70.4% despite higher component costs squeezing hybrid cloud product margins by six points. Operating income climbed 10% y/y to $309M on lower sales and R&D expenses, yielding diluted EPS of $1.15, down slightly from $1.17 on share repurchases. Cash from operations surged to $673M, funding $300M in buybacks and a $750M debt repayment that trimmed total debt to $2.5B; free cash flow hit $620M after $53M capex. Hybrid cloud dominated at 90% of revenue, with public cloud steady at $161M. Yet patent litigation from non-practicing entities poses risks to product shipments.
10-K
FY2025 results
NetApp's fiscal 2025 results showed net revenues climbing 5% year-over-year to $6.572 billion, driven by 7% growth in product revenues to $3.040 billion from higher all-flash array sales, while services revenues edged up 3% to $3.532 billion amid steady support demand. The full-year operating margin expanded to 20% from 19%, bolstered by disciplined cost controls despite $83 million in restructuring charges, yet Q4 momentum faltered with product revenues dipping sequentially from Q3 amid softening hybrid system demand. Public Cloud revenues accelerated 9% annually to $665 million, fueled by diversified offerings, while Hybrid Cloud gross margins compressed two points to 58% due to elevated component costs. Year-end cash reserves swelled to $3.846 billion after $1.24 billion in Senior Notes issuance, supporting $1.2 billion in buybacks and $424 million in dividends; free cash flow stood at $1.338 billion (derived). Q4's deceleration underscores risks from macroeconomic volatility and supply chain disruptions.
8-K
NetApp's record FY25 earnings
NetApp posted record fiscal 2025 results, with net revenues up 5% to $6.57 billion and non-GAAP operating profit hitting $1.86 billion at 28% margins, fueled by 14% growth in all-flash array run rate to $4.1 billion and 43% surge in public cloud services to $416 million. The board added $1.1 billion to its stock repurchase authorization, signaling confidence amid strong cash generation of $1.51 billion from operations. Yet leadership shifts loom: Chief Product Officer Harvinder Bhela exits by June 20, 2025, with transition support. Fiscal 2026 guidance projects revenues of $6.625-$6.875 billion.
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