NetApp, Inc. (NTAP) Stock

NetApp, Inc. (NTAP) is a Technology stock trading at $163.75 (as of 2026-07-17), with a market capitalization of $32.08B and a trailing P/E of 26.3. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

NetApp, Inc. offers data management and storage solutions for managing and sharing data across on-premises environments and private and public clouds. Its offerings span intelligent software for storage and data services and related infrastructure, provided through its Hybrid Cloud and Public Cloud segments for customers worldwide.

Understand NetApp, Inc.: how it makes money

NetApp sells intelligent data management software and storage infrastructure for managing and sharing data across on-premises and private and public clouds, and it makes money through Hybrid Cloud revenues, Public Cloud revenues, and related product and support offerings.

A large share of NetApp's profit engine appears to come from Hybrid Cloud revenue, supported by recurring support revenue that is attached to its software and storage deployments.

Revenue by segment (latest quarter)
Hybrid$1.5B
Public$0.2B

Business quality (Strong): The company provides a clear two-segment structure (Hybrid Cloud and Public Cloud) and the operating metrics list separately highlights Hybrid Cloud revenue and recurring support revenue.

Valuation: At 24× earnings, NTAP trades 24% below the Tech Hardware average (32×). Note: one-time items can distort reported P/E.

Bull case

  • Hybrid Cloud is the dominant segment in the provided segment metrics: Hybrid cloud revenue is listed above the Public Cloud segment revenue, indicating most reported activity is tied to Hybrid Cloud offerings.
  • Support is a meaningful contributor and is described as recurring: The operational KPI list includes both Support revenue and Recurring support revenue, which suggests repeatable revenue linked to installed base software and infrastructure.

Bear case

  • Revenue mix depends heavily on Hybrid Cloud: With Hybrid Cloud revenue substantially larger than Public Cloud segment revenue in the provided metrics, any slowdown in Hybrid Cloud demand or spending could weigh on overall results.
  • Public Cloud is a smaller part of the provided operating mix: Public cloud segment revenue is listed below Hybrid Cloud revenue, so diversification into Public Cloud may not be enough to offset weakness elsewhere.
Valuation — source: SEC EDGAR (first-party)
Price$163.75
Market Cap$32.08B
P/E Ratio26.3
EV / EBITDA19.5
Price / Book23.75
Price / Sales4.83
FCF Yield7.2%
DCF Value (model)$77.40
DCF Upside vs Price-52.7%
Profitability & Growth — source: SEC EDGAR
Revenue (TTM)$6.24B
Net Margin20.5%
Revenue Growth (YoY)-5.1%
EPS Growth (YoY)10.3%
FCF Growth (YoY)39.7%
Financial Health — source: SEC EDGAR
Altman Z-Score3.36 (safe)
Piotroski F-Score7/9 (strong)
Valuation vs Sector & Industry
Stock P/E26.3
Sector P/E (Technology)34.7
Industry P/E (Computers)30.9
vs Sector-24.2%
vs Industry-15.0%
Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional HolderVANGUARD GROUP INC ($2.91B)
Institutional Holders Tracked10
Congressional Trades (recent)5
Company
SectorTechnology
IndustryComputers
CEOGeorge Kurian
Employees11,800
CountryUS
IPO Date1995-11-21

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NTAP earnings history · NTAP institutional & insider holders · NTAP KPIs & operating metrics · Congress trades · Insider trades · Short interest · Stock screener

Data as of 2026-07-17.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.