NTAP on Nasdaq

NetApp

Logo: Unknown author Unknown author, Public domain, via Wikimedia Commons⁴

American technology company

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Last updated Oct 16, 2026.

Overview

$6.9BRevenue, fiscal 2026⁵

$1.3BNet income, fiscal 2026⁵

1992Founded¹

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TickerNTAP on Nasdaq¹
IndustryComputer Storage Devices¹
HeadquartersSunnyvale¹
Websitewww.netapp.com
Legal formDelaware corporation¹
Incorporated inCA⁶
Business address3060 Olsen Drive, San Jose, Ca 95128⁶
Filer categoryLarge accelerated filer⁶

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NetApp, Inc. is an American data infrastructure company that provides unified data storage, integrated data services, and cloud operations (CloudOps) solutions to enterprise customers. The company is based in San Jose, California. It was ranked in the Fortune 500 from 2012 to 2021. Founded in 1992 with an initial public offering in 1995, NetApp offers cloud data services for management of applications and data both online and physically.³

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2026

70.7%Gross margin⁵

24.2%Operating margin⁵

18.4%Net margin⁵

5.4%Revenue growth, 2026⁵

94.4%Return on equity⁵

1.84×Debt to equity⁵

$1.9BFree cash flow⁵

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Products and services

Product brought in 46% of the revenue NetApp broke down this way in fiscal 2026.

Product$3.2B⁵46%up 5% from 2025
Support$2.6B⁵38%up 5% from 2025
Public Cloud$688.0M⁵10%up 3% from 2025
Professional And Other Services$407.0M⁵6%up 15% from 2025

Products and services by year

Products and services	2024	2025	2026
Product	$2.8B	$3.0B	$3.2B
Support	$2.5B	$2.5B	$2.6B
Public Cloud	$611.0M	$665.0M	$688.0M
Professional And Other Services	$320.0M	$355.0M	$407.0M

Business segments

All-flash revenues brought in 60% of the revenue NetApp broke down this way in fiscal 2026.

All-flash revenues$4.2B⁵60%up 11% from 2025
Hybrid-flash and other revenues$2.1B⁵30%down 4% from 2025
Public Cloud$688.0M⁵10%up 3% from 2025

Business segments by year

Business segments	2024	2025	2026
All-flash revenues	$3.3B	$3.8B	$4.2B
Hybrid-flash and other revenues	$2.4B	$2.1B	$2.1B
Public Cloud	$611.0M	$665.0M	$688.0M

Regions

Americas brought in 34% of the revenue NetApp broke down this way in fiscal 2026.

Americas$3.5B⁵34%up 5% from 2025
United States$3.3B⁵32%up 7% from 2025
EMEA$2.4B⁵23%up 7% from 2025
Asia Pacific$1.1B⁵10%up 4% from 2025

Regions by year

Regions	2024	2025	2026
Americas	$3.2B	$3.3B	$3.5B
United States	$3.0B	$3.1B	$3.3B
EMEA	$2.1B	$2.2B	$2.4B
Asia Pacific	$971.0M	$1.0B	$1.1B

Where the money goes

Where each dollar of revenue went, fiscal 2026

Cost of revenueResearch and developmentOther costsProfit

Cost of revenue29¢$2.0B
Research and development14¢$991.0M
Other costs33¢$2.3B
Income tax5¢$372.0M
Profit18¢$1.3B

Out of $6.9B in revenue.⁵

Where each dollar of operating cash went, fiscal 2026

Dividends paidShare buybacksKept or used elsewhere

Capital spending10¢$198.0M
Dividends paid20¢$413.0M
Share buybacks46¢$950.0M
Kept or used elsewhere24¢$506.0M

Out of $2.1B of cash from operations.⁵

Financial statements

Revenue⁹¹⁰¹¹¹²¹³⁵$6.9B in 2026+13% since 2019

Gross profit⁹¹⁰¹¹¹²¹³⁵$4.9B in 2026+24% since 2019

Operating income⁹¹⁰¹¹¹²¹³⁵$1.7B in 2026+37% since 2019

Net income⁹¹⁰¹¹¹²¹³⁵$1.3B in 2026+9% since 2019

Every line of the income statement in the latest annual report, as filed.⁵

Period ending	2026-04-30	2025-04-30	2024-04-30
Net revenues	$6.9B	$6.6B	$6.3B
Total cost of revenues	$2.0B	$2.0B	$1.8B
Gross profit	$4.9B	$4.6B	$4.4B
Sales and marketing	$1.9B	$1.9B	$1.8B
Research and development	$991.0M	$1.0B	$1.0B
General and administrative	$344.0M	$311.0M	$308.0M
Restructuring charges	$21.0M	$83.0M	$44.0M
Acquisition-related expense	$0	$5.0M	$10.0M
Total operating expenses	$3.2B	$3.3B	$3.2B
Income from operations	$1.7B	$1.3B	$1.2B
Other (expense) income, net	-$26.0M	$46.0M	$49.0M
Income before income taxes	$1.6B	$1.4B	$1.3B
Provision for income taxes	$372.0M	$197.0M	$277.0M
Net income	$1.3B	$1.2B	$986.0M
Basic	$6.41	$5.81	$4.74
Diluted	$6.35	$5.67	$4.63
Basic	199.0M shares	204.0M shares	208.0M shares
Diluted	201.0M shares	209.0M shares	213.0M shares

Total assets¹⁶⁹¹⁰¹¹¹²¹³⁵$10.7B in 2026+23% since 2019

Total liabilities¹⁶⁹¹⁰¹¹¹²¹³⁵$9.4B in 2026+23% since 2019

Shareholders’ equity¹⁰¹¹¹²¹³⁵$1.4B in 2026+24% since 2019

Cash¹⁶¹¹¹⁰¹²¹³⁵$2.1B in 2026−11% since 2019

Long-term debt¹⁶⁹¹⁰¹¹¹²¹³⁵$2.5B in 2026+117% since 2019

Every line of the balance sheet in the latest annual report, as filed.⁵

Period ending	2026-04-30	2025-04-30	2024-04-30
Cash and cash equivalents	$2.1B	$2.7B
Short-term investments	$1.5B	$1.1B
Accounts receivable	$1.3B	$1.2B
Inventories	$198.0M	$186.0M
Other current assets	$708.0M	$573.0M
Total current assets	$5.8B	$5.9B
Property and equipment, net	$592.0M	$563.0M
Goodwill	$2.8B	$2.7B	$2.8B
Purchased intangible assets, net	$22.0M	$43.0M
Other non-current assets	$1.6B	$1.6B
Total assets	$10.7B	$10.8B
Accounts payable	$550.0M	$511.0M
Accrued expenses	$1.2B	$1.1B
Current portion of long-term debt	$0	$750.0M
Short-term deferred revenue	$2.3B	$2.3B
Total current liabilities	$4.0B	$4.7B
Long-term debt	$2.5B	$2.5B
Other long-term liabilities	$360.0M	$379.0M
Long-term deferred revenue	$2.5B	$2.3B
Total liabilities	$9.4B	$9.8B
Preferred stock, $0.001 par value, 5 shares authorized; no shares issued or outstanding as of April 25, 2025 or April 26, 2024	$0	$0
Common stock and additional paid-in capital, $0.001 par value, 885 shares authorized; 198 and 201 shares issued and outstanding as of April 24, 2026 and April 25, 2025, respectively	$1.2B	$1.1B
Retained earnings	$153.0M	$0
Accumulated other comprehensive loss	-$11.0M	-$66.0M
Total stockholders' equity	$1.4B	$1.0B	$1.1B
Total liabilities and stockholders' equity	$10.7B	$10.8B
Preferred stock, par value	$0.00	$0.00
Preferred stock, shares authorized	5.0M shares	5.0M shares
Preferred stock, shares issued	0 shares	0 shares
Preferred stock, shares outstanding	0 shares	0 shares
Common stock, par value	$0.00	$0.00
Common stock, shares authorized	885.0M shares	885.0M shares
Common stock, shares issued	196.0M shares	201.0M shares
Common stock, shares outstanding	196.0M shares	201.0M shares

Cash from operations⁹¹⁰¹¹¹²¹³⁵$2.1B in 2026+54% since 2019

Capital spending⁹¹⁰¹¹¹²¹³⁵$198.0M in 2026+14% since 2019

Free cash flow⁹¹⁰¹¹¹²¹³⁵$1.9B in 2026+60% since 2019

Dividends paid⁹¹⁰¹¹¹²¹³⁵$413.0M in 2026+2% since 2019

Share buybacks⁹¹⁰¹¹¹²¹³⁵$950.0M in 2026−55% since 2019

Every line of the cash flow in the latest annual report, as filed.⁵

Period ending	2026-04-30	2025-04-30	2024-04-30
Net income	$1.3B	$1.2B	$986.0M
Depreciation and amortization	$200.0M	$243.0M	$255.0M
Non-cash operating lease cost	$42.0M	$41.0M	$45.0M
Stock-based compensation	$382.0M	$386.0M	$357.0M
Deferred income taxes	$135.0M	-$100.0M	$53.0M
Other items, net	$55.0M	$0	-$13.0M
Accounts receivable	-$36.0M	-$219.0M	-$33.0M
Inventories	-$12.0M	-$1.0M	-$18.0M
Other operating assets	-$248.0M	-$87.0M	-$62.0M
Accounts payable	$31.0M	-$8.0M	$123.0M
Accrued expenses	-$23.0M	$62.0M	$113.0M
Deferred revenue	$281.0M	$208.0M	-$14.0M
Long-term taxes payable	-$7.0M	-$207.0M	-$106.0M
Other operating liabilities	-$9.0M	$2.0M	-$1.0M
Net cash provided by operating activities	$2.1B	$1.5B	$1.7B
Purchases of investments	-$2.8B	-$1.8B	-$2.6B
Maturities, sales and collections of investments	$2.3B	$2.0B	$2.1B
Purchases of property and equipment	-$198.0M	-$168.0M	-$155.0M
Other investing activities, net	$15.0M	$70.0M	$0
Net cash (used in) provided by investing activities	-$595.0M	$147.0M	-$735.0M
Proceeds from issuance of common stock under employee stock award plans	$103.0M	$108.0M	$100.0M
Payments for taxes related to net share settlement of stock awards	-$137.0M	-$199.0M	-$127.0M
Repurchase of common stock	-$950.0M	-$1.1B	-$900.0M
Issuances of debt, net of issuance costs	$0	$1.2B	$0
Repayments and extinguishment of debt	-$750.0M	-$400.0M	$0
Dividends paid	-$413.0M	-$424.0M	-$416.0M
Other financing activities, net	$0	-$3.0M	-$1.0M
Net cash used in financing activities	-$2.1B	-$828.0M	-$1.3B
Effect of exchange rate changes on cash, cash equivalents and restricted cash	$1.0M	$15.0M	-$19.0M
Net change in cash, cash equivalents and restricted cash	-$674.0M	$840.0M	-$413.0M

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The story

Founded by David Hitz in 1992.¹

NetApp was founded in 1992 by David Hitz, James Lau, and Michael Malcolm as Network Appliance, Inc. At the time, its major competitor was Auspex Systems. In 1994, NetApp received venture capital funding from Sequoia Capital. In 2006, NetApp sold the NetCache product line to Blue Coat Systems. In 2008, Network Appliance officially changed its legal name to NetApp, Inc., reflecting the nickname by which it was already well-known. On June 1, 2015, Tom Georgens stepped down as CEO and was replaced by George Kurian. In May 2018, NetApp announced its first end-to-end NVMe array called All Flash FAS A800 with the release of ONTAP 9.4 software.

From Wikipedia’s article on NetApp, shared under CC BY-SA 4.0.⁷

Leadership

Who has led NetApp, and when. Pick a name to see everywhere that person has worked.

Chief executive

George Kurian2015–now

1995200020052010201520202025

FounderDavid Hitz¹
Chief executive officerGeorge Kurian Jul 2015 to now¹

Employees over time

202212,000¹
202111,800¹

Former names

NETWORK APPLIANCE INCOct 29, 1996 to May 12, 2008⁶

Controversies and legal

Controversy

Syrian surveillance

In November 2011, during the 2011 Syrian uprising, NetApp was named as one of several companies whose products were being used in the Syrian government crackdown. The equipment was allegedly sold to the Syrians by an authorized NetApp reseller.

On April 7, 2014, NetApp was notified by the US Department of Commerce "that it had completed its review of this matter and determined that NetApp had not violated the U.S. export laws", and that the file on the matter had been closed.

Legal dispute with Sun Microsystems

In September 2007, NetApp started proceedings against Sun Microsystems, claiming that the ZFS File System developed by Sun infringed its patents. The following month, Sun announced plans to countersue based on alleged misuse by NetApp of Sun's own patented technology. Several of NetApp's patent claims were rejected on the basis of prior art after re-examination by the United States Patent and Trademark Office. On September 9, 2010, NetApp announced an agreement with Oracle Corporation (the new owner of Sun Microsystems) to dismiss the suits.