NetApp debt and dilution86

Borrowings, liquidity, share count and stock-based dilution.

Total debt

USD millions

$2,488M

Cash & equivalents

USD millions

$1,573M

Net debt

USD millions

$915M

Debt / equity

1.66×

Debt / assets

22.71%

Net debt / EBITDA

× · TTM

0.45×

Debt / FCF

× · TTM

1.51×

Interest coverage

× · TTM

—

Current ratio

1.24×

Diluted shares

Million shares

200M shares

Basic shares

Million shares

196M shares

Share count growth

-2.49%

Share repurchases

USD millions

$200M

Quarterly data

NetApp capital history. Each metric has its own unit. A dash means inputs are missing or the calculation is undefined.
Fiscal period	Ended	Total debtUSD millions	Cash & equivalentsUSD millions	Net debtUSD millions	Debt / equity×	Debt / assets%	Net debt / EBITDA×	Debt / FCF×	Interest coverage×	Current ratio×	Diluted sharesMillion shares	Basic sharesMillion shares	Share count growth%	Share repurchasesUSD millions
FY 2027 Q1	Jul 31, 2026	2,488	1,573	915	1.66×	22.71%	0.45×	1.51×	—	1.24×	200	196	-2.49%	200
FY 2026 Q4	Apr 24, 2026	2,487	2,070	417	1.84×	23.15%	0.23×	1.33×	15.36×	1.44×	198	199	-1%	200
FY 2026 Q3	Jan 23, 2026	2,486	1,629	857	2.15×	24.93%	0.51×	1.55×	7.93×	1.39×	200	198	-2.94%	200
FY 2026 Q2	Oct 24, 2025	2,486	2,072	414	2.52×	25.82%	0.25×	1.48×	9.45×	1.34×	202	199	-2.45%	250
FY 2026 Q1	Jul 25, 2025	2,485	2,085	400	2.55×	25.67%	0.25×	1.5×	12.51×	1.31×	203	201	-2.43%	300
FY 2025 Q4	Apr 25, 2025	3,235	2,742	493	3.11×	29.89%	0.32×	2.42×	20.89×	1.26×	206	201	-1.95%	250
FY 2025 Q3	Jan 24, 2025	1,994	1,511	483	2×	22.18%	0.3×	1.58×	—	0.93×	208	204	-0.97%	200
FY 2025 Q2	Oct 25, 2024	1,993	1,478	515	2.23×	22.13%	0.32×	1.45×	679.5×	0.91×	210	204	-1.92%	300
FY 2025 Q1	Jul 26, 2024	2,393	1,652	741	2.58×	25.7%	0.47×	1.69×	41.19×	0.96×	212	206	-2.83%	400
FY 2024 Q4	Apr 26, 2024	2,392	1,903	489	2.09×	24.19%	0.35×	1.56×	18.97×	1.19×	213	205	-4.21%	100
FY 2024 Q3	Jan 26, 2024	2,391	1,820	571	2.41×	25.52%	0.4×	2.06×	18.08×	1.15×	211	206	-4.63%	100
FY 2024 Q2	Oct 27, 2023	2,391	1,934	457	3.11×	26.35%	0.37×	2.32×	15.29×	1.07×	211	208	-4.15%	300
FY 2024 Q1	Jul 28, 2023	—	2,020	—	—	—	—	—	14.48×	1.28×	216	212	-3.64%	400
FY 2023 Q4	Apr 28, 2023	2,389	2,316	73	2.06×	24.33%	0.06×	2.75×	15.19×	1.35×	217	214	-4.04%	150
FY 2023 Q3	Jan 27, 2023	2,388	2,640	-252	2.17×	24.59%	-0.2×	2.35×	14.52×	1.34×	219	216	-3.14%	200
FY 2023 Q2	Oct 28, 2022	2,387	2,669	-282	1.99×	24.41%	-0.21×	2.67×	15.99×	1.36×	220	217	-2.69%	150
FY 2023 Q1	Jul 29, 2022	2,637	3,288	-651	4.01×	27.63%	-0.48×	2.61×	15.93×	1.38×	224	220	-1.35%	350
FY 2022 Q4	Apr 29, 2022	2,636	4,112	-1,476	3.15×	26.29%	-1.13×	2.68×	15.85×	1.5×	229	223	0.45%	250
FY 2022 Q3	Jan 28, 2022	2,635	4,170	-1,535	2.99×	27.74%	-1.02×	2.27×	17.82×	1.55×	229	223	0%	125
FY 2022 Q2	Oct 29, 2021	—	4,509	—	—	—	—	—	16.97×	1.77×	229	223	0.45%	125
FY 2022 Q1	Jul 30, 2021	—	4,492	—	—	—	—	—	15.46×	1.81×	229	223	0.9%	100
FY 2021 Q4	Apr 30, 2021	2,632	4,529	-1,897	3.84×	28.12%	-1.6×	2.25×	13.93×	1.74×	229.08	222	0.45%	75
FY 2021 Q3	Jan 29, 2021	—	3,808	—	—	—	—	—	12.36×	1.68×	227	223	-1.33%	50
FY 2021 Q2	Oct 30, 2020	—	3,529	—	—	—	—	—	13.48×	1.65×	224	222	-5.53%	0
FY 2021 Q1	Jul 31, 2020	—	3,633	—	—	—	—	—	16.84×	1.62×	222	221	-7.53%	0
FY 2020 Q4	Apr 24, 2020	1,668	2,658	-990	6.89×	22.17%	-0.9×	1.78×	17.18×	1.18×	224	221	-9.8%	161
FY 2020 Q3	Jan 24, 2020	1,839	2,705	-866	6.52×	24.58%	-0.7×	1.95×	18.87×	1.2×	229	226	-9.6%	500
FY 2020 Q2	Oct 25, 2019	1,643	2,545	-902	3.07×	21.99%	-0.71×	1.69×	18.96×	1.31×	236	235	-8.91%	500
FY 2020 Q1	Jul 26, 2019	1,575	2,967	-1,392	1.83×	20.16%	-1.1×	1.33×	18.15×	1.42×	243	239	-8.78%	250
FY 2019 Q4	Apr 26, 2019	1,793	2,325	-532	1.64×	20.51%	-0.39×	1.54×	21.05×	1.45×	247	245	-7.55%	500
FY 2019 Q3	Jan 25, 2019	1,706	2,271	-565	1.39×	20.27%	-0.42×	1.36×	19.29×	1.56×	255	250	-6.72%	550
FY 2019 Q2	Oct 26, 2018	1,792	2,359	-567	1.17×	20.96%	-0.38×	1.47×	21.63×	1.65×	264	258	-4.09%	561
FY 2019 Q1	Jul 27, 2018	—	2,627	—	—	—	—	—	19.54×	2.06×	269	262	-2.96%	500
FY 2018 Q4	Apr 27, 2018	1,926	2,941	-1,015	0.93×	19.52%	-0.8×	1.44×	18.15×	1.89×	297	265	-1.49%	344
FY 2018 Q3	Jan 26, 2018	2,172	2,974	-802	1×	22.19%	-0.62×	1.79×	18.08×	1.91×	268	268	-2.19%	150
FY 2018 Q2	Oct 27, 2017	3,008	3,535	-527	1.08×	29.18%	-0.52×	2.96×	14.49×	1.67×	275	269	-3.24%	150
FY 2018 Q1	Jul 28, 2017	2,388	2,951	-563	0.86×	24.88%	-0.6×	2.87×	14.4×	1.47×	278	270	-3.23%	150
FY 2017 Q4	Apr 28, 2017	1,493	2,444	-951	0.54×	15.73%	-1.13×	1.84×	12.79×	1.5×	278	269	-5.54%	129
FY 2017 Q3	Jan 27, 2017	1,492	2,213	-721	0.55×	16.48%	-0.98×	1.88×	8.93×	1.47×	281	274	-6.48%	284
FY 2017 Q2	Oct 28, 2016	—	2,113	—	—	—	—	—	8.75×	2.06×	284	278	-5.44%	117
FY 2017 Q1	Jul 29, 2016	—	2,294	—	—	—	—	—	8.81×	2.07×	282	279	-8.22%	175
FY 2016 Q4	Apr 29, 2016	2,339	2,868	-529	0.81×	23.3%	-0.94×	2.87×	7.1×	1.76×	287.77	284.77	-7.72%	262
FY 2016 Q3	Jan 29, 2016	—	2,495	—	—	—	—	—	9.9×	2.45×	296	293	-5.97%	85
FY 2016 Q2	Oct 30, 2015	—	2,198	—	—	—	—	—	10.71×	2.48×	296	294	-7.58%	183
FY 2016 Q1	Jul 31, 2015	—	2,324	—	—	—	—	—	12.06×	2.47×	304	304	-6.03%	430
FY 2015 Q4	Apr 24, 2015	—	1,921.5	—	—	—	—	—	17.06×	2.5×	312.9	308.6	-6.51%	246.3
FY 2015 Q3	Jan 23, 2015	—	2,539.7	—	—	—	—	—	20.82×	2.63×	317.1	311.6	-8.19%	200
FY 2015 Q2	Oct 24, 2014	—	2,905.2	—	—	—	—	—	24.33×	2.61×	323.5	318.1	-6.63%	600
FY 2015 Q1	Jul 25, 2014	—	3,031.6	—	—	—	—	—	27.88×	2.81×	329.1	323.5	-7.81%	118.9
FY 2014 Q4	Apr 25, 2014	995.5	2,291	-1,295.5	0.26×	10.8%	-1.28×	0.88×	20.34×	2.4×	336.5	330.1	-7.92%	374.5
FY 2014 Q3	Jan 24, 2014	995.2	2,152.7	-1,157.5	0.25×	11.06%	-1.1×	0.82×	12.39×	2.57×	346.2	339.4	-5.59%	507
FY 2014 Q2	Oct 25, 2013	995	2,260.5	-1,265.5	0.24×	10.82%	-1.24×	0.84×	9.01×	2.67×	349.1	340.7	-5.88%	150.5
FY 2014 Q1	Jul 26, 2013	994.8	1,796.8	-802	0.25×	11.03%	-0.82×	0.88×	7.07×	2.66×	359.9	350.9	-4.15%	849.5
FY 2013 Q4	Apr 26, 2013	2,252.4	3,277.1	-1,024.7	0.48×	20.03%	-1.18×	2.08×	6.63×	2.2×	367.7	358.5	-1.4%	180
FY 2013 Q3	Jan 25, 2013	2,237.6	3,081.7	-844.1	0.48×	20.59%	-0.88×	1.95×	7.46×	2.22×	364.7	359.5	-0.22%	61.7
FY 2013 Q2	Oct 26, 2012	—	1,816.8	—	—	—	—	—	7.55×	1.93×	368.2	362	0.14%	198.3
FY 2013 Q1	Jul 27, 2012	—	1,529.4	—	—	—	—	—	8.65×	1.95×	371.2	366.1	-1.13%	150
FY 2012 Q4	Apr 27, 2012	1,202.3	1,549.8	-347.5	0.28×	12.61%	-0.33×	1.14×	9.99×	1.94×	381.9	363.6	-0.98%	0
FY 2012 Q3	Jan 27, 2012	—	2,420.9	—	—	—	—	—	10.61×	2.86×	373.7	360.3	-1.23%	0
FY 2012 Q2	Oct 28, 2011	—	2,269	—	—	—	—	—	11.16×	2.75×	376	361.5	0.67%	400
FY 2012 Q1	Jul 29, 2011	—	2,543.2	—	—	—	—	—	10.9×	1.84×	405.5	370.3	5.08%	200
FY 2011 Q4	Apr 29, 2011	—	2,757.3	—	—	—	—	—	10.86×	1.89×	402.7	367.2	—	0
FY 2011 Q3	Jan 28, 2011	—	1,919.4	—	—	—	—	—	—	2.88×	406.2	364.8	—	0
FY 2011 Q2	Oct 29, 2010	—	1,771.1	—	—	—	—	—	—	2.8×	391.7	359.1	—	0
FY 2011 Q1	Jul 30, 2010	—	1,612	—	—	—	—	—	—	2.76×	374.3	352.4	—	0

Sources and calculations

Financial inputs from company filings. Last checked Oct 18, 2026. A dash means missing inputs or an undefined calculation.

Period changes use the preceding fiscal quarter or year. Percentage changes divide by the absolute prior value; a zero or missing baseline has no percentage change. Percentage metrics show changes in percentage points.

The SBC option subtracts reported share-based compensation from FCF as an economic-cost scenario. Missing SBC never becomes zero.

Debt uses reported borrowings, with overlapping concepts treated as alternatives. Cash excludes restricted cash and short-term investments. Dilution compares split-normalized weighted average basic shares year over year. Share buyback spending does not by itself measure shares retired.

Market prices: Yahoo Finance · NTAP, USD. Latest completed close Sep 25, 2026. Price data retrieved Sep 28, 2026.

Total debt: Reported borrowing balances. Uses an aggregate including current maturities, or current plus noncurrent debt. Adds separately disclosed short-term borrowings, with commercial paper as a fallback, unless the selected current/aggregate concept already includes them. Finance leases are included when part of the reported debt concept; undisclosed components are not estimated.
Cash & equivalents: Unrestricted reported cash and cash equivalents. Excludes short-term investments and restricted cash.
Net debt: Total debt − cash and equivalents. Negative means net cash.
Debt / equity: Total debt / equity including noncontrolling interests. Nonpositive equity yields unavailable.
Debt / assets: Total debt / total assets × 100.
Net debt / EBITDA: Period-end net debt / (TTM operating income + TTM depreciation and amortization). Negative net debt is retained.
Debt / FCF: Period-end reported debt / positive TTM free cash flow. Reflects the selected reported capex scope and SBC option.
Interest coverage: TTM operating income / positive TTM interest expense. IFRS finance costs can include more than interest.
Current ratio: Current assets / positive current liabilities.
Diluted shares: Reported weighted average diluted shares, normalized for subsequent recorded stock splits. Fourth-quarter counts use a day-weighted annual/nine-month reconstruction where possible.
Basic shares: Reported weighted average basic shares, normalized for subsequent recorded stock splits.
Share count growth: Year-over-year change in split-normalized weighted average basic shares × 100. A dilution proxy; negative means a lower share count.
Share repurchases: Reported cash payments for repurchase of common shares. This is spending, not a buyback yield.

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