NetApp
NetApp margins
Profitability and cash generation as a share of revenue.
Gross margin
%
Operating margin
%
Net margin
%
EBITDA margin
%
Operating cash flow margin
%
Free cash flow margin
%
Capex / revenue
%
SBC / revenue
%
Quarterly data
| Fiscal period | Ended | Gross margin% | Operating margin% | Net margin% | EBITDA margin% | Operating cash flow margin% | Free cash flow margin% | Capex / revenue% | SBC / revenue% |
|---|---|---|---|---|---|---|---|---|---|
| FY 2027 Q1 | Jul 31, 2026 | 70.07% | 23.9% | 18.52% | 25.53% | 24.84% | 19.8% | 5.04% | 4.84% |
| FY 2026 Q4 | Apr 24, 2026 | 70.07% | 27.31% | 20.74% | 29.83% | 48.77% | 46.2% | 2.57% | 5.13% |
| FY 2026 Q3 | Jan 23, 2026 | 70.58% | 25.34% | 19.5% | 28.14% | 18.51% | 15.82% | 2.69% | 5.66% |
| FY 2026 Q2 | Oct 24, 2025 | 71.96% | 23.4% | 17.89% | 26.45% | 7.45% | 4.57% | 2.87% | 5.98% |
| FY 2026 Q1 | Jul 25, 2025 | 70.43% | 19.82% | 14.95% | 23.09% | 43.17% | 39.77% | 3.4% | 5.32% |
| FY 2025 Q4 | Apr 25, 2025 | 68.88% | 20.09% | 19.63% | 23.15% | 38.97% | 36.95% | 2.02% | 5.48% |
| FY 2025 Q3 | Jan 24, 2025 | 69.77% | 22.06% | 18.22% | 25.96% | 23.46% | 20.6% | 2.86% | 6.28% |
| FY 2025 Q2 | Oct 25, 2024 | 70.99% | 20.81% | 18.03% | 24.61% | 6.33% | 3.62% | 2.71% | 6.21% |
| FY 2025 Q1 | Jul 26, 2024 | 71.25% | 18.3% | 16.09% | 22.39% | 22.13% | 19.47% | 2.66% | 5.52% |
| FY 2024 Q4 | Apr 26, 2024 | 70.5% | 21.94% | 17.45% | 25.78% | 36.75% | 33.99% | 2.76% | 5.28% |
| FY 2024 Q3 | Jan 26, 2024 | 71.67% | 22.79% | 19.49% | 26.71% | 30.14% | 27.9% | 2.24% | 5.54% |
| FY 2024 Q2 | Oct 27, 2023 | 71.06% | 19.46% | 14.92% | 23.56% | 8.64% | 6.21% | 2.43% | 5.95% |
| FY 2024 Q1 | Jul 28, 2023 | 69.55% | 12.43% | 10.41% | 16.9% | 31.63% | 29.19% | 2.44% | 6.08% |
| FY 2023 Q4 | Apr 28, 2023 | 67.99% | 19.54% | 15.5% | 23.72% | 14.86% | 12.4% | 2.47% | 4.68% |
| FY 2023 Q3 | Jan 27, 2023 | 65.6% | 11.27% | 4.26% | 15.53% | 24.71% | 20.9% | 3.8% | 6.09% |
| FY 2023 Q2 | Oct 28, 2022 | 65.36% | 16.96% | 45.1% | 20.51% | 12.87% | 8.24% | 4.63% | 4.69% |
| FY 2023 Q1 | Jul 29, 2022 | 65.7% | 16.02% | 13.44% | 19.66% | 17.65% | 13.57% | 4.08% | 4.21% |
| FY 2022 Q4 | Apr 29, 2022 | 64.82% | 17.44% | 15.42% | 20.48% | 24.46% | 20.42% | 4.05% | 3.93% |
| FY 2022 Q3 | Jan 28, 2022 | 66.48% | 19.89% | 15.61% | 23.05% | 16.11% | 12.33% | 3.78% | 3.97% |
| FY 2022 Q2 | Oct 29, 2021 | 67.62% | 18.77% | 14.3% | 21.71% | 19.03% | 16.09% | 2.94% | 3.96% |
| FY 2022 Q1 | Jul 30, 2021 | 68.52% | 17.08% | 13.85% | 20.23% | 16.6% | 13.1% | 3.5% | 3.64% |
| FY 2021 Q4 | Apr 30, 2021 | 66.56% | 29.26% | 21.48% | 32.35% | 35.95% | 33.5% | 2.44% | 3.09% |
| FY 2021 Q3 | Jan 29, 2021 | 66.33% | 17.55% | 12.38% | 21.22% | 25.37% | 23.2% | 2.18% | 3.13% |
| FY 2021 Q2 | Oct 30, 2020 | 65.89% | 12.85% | 9.68% | 16.81% | 11.37% | 8.55% | 2.82% | 3.46% |
| FY 2021 Q1 | Jul 31, 2020 | 66.92% | 10.44% | 5.91% | 14.2% | 18.42% | 14.43% | 3.99% | 4.14% |
| FY 2020 Q4 | Apr 24, 2020 | 67.17% | 19.77% | 13.99% | 23.13% | 27.34% | 25.62% | 1.71% | 2.5% |
| FY 2020 Q3 | Jan 24, 2020 | 67.02% | 19.09% | 19.73% | 22.44% | 29.91% | 27.64% | 2.28% | 2.56% |
| FY 2020 Q2 | Oct 25, 2019 | 67.47% | 21.59% | 17.72% | 25.24% | -3.87% | -6.49% | 2.63% | 2.92% |
| FY 2020 Q1 | Jul 26, 2019 | 66.02% | 8.41% | 8.33% | 12.38% | 25.08% | 22.49% | 2.59% | 3.4% |
| FY 2019 Q4 | Apr 26, 2019 | 64.45% | 23.24% | 24.87% | 26.26% | 25.06% | 22.86% | 2.2% | 2.32% |
| FY 2019 Q3 | Jan 25, 2019 | 62.83% | 19.9% | 15.93% | 23.16% | 28.85% | 26.87% | 1.98% | 2.75% |
| FY 2019 Q2 | Oct 26, 2018 | 64.21% | 18.85% | 15.89% | 22.08% | 10.88% | 8.04% | 2.83% | 2.5% |
| FY 2019 Q1 | Jul 27, 2018 | 65.33% | 17.23% | 19.2% | 20.56% | 22.12% | 17.77% | 4.34% | 2.71% |
| FY 2018 Q4 | Apr 27, 2018 | 62.28% | 17.49% | 16.51% | 20.41% | 30.1% | 27.18% | 2.93% | 2.19% |
| FY 2018 Q3 | Jan 26, 2018 | 61.79% | 30.93% | -33.22% | 34.08% | 27.58% | 25.48% | 2.1% | 2.5% |
| FY 2018 Q2 | Oct 27, 2017 | 63.43% | 15.4% | 12.31% | 18.99% | 22.08% | 20.04% | 2.04% | 2.74% |
| FY 2018 Q1 | Jul 28, 2017 | 62.94% | 11.17% | 10.26% | 15.02% | 18.87% | 16.15% | 2.72% | 3.62% |
| FY 2017 Q4 | Apr 28, 2017 | 61.65% | 16.68% | 12.83% | 20.26% | 24.65% | 22.08% | 2.57% | 3.11% |
| FY 2017 Q3 | Jan 27, 2017 | 60.61% | 13.03% | 10.4% | 17.02% | 16.74% | 13.53% | 3.21% | 3.28% |
| FY 2017 Q2 | Oct 28, 2016 | 61.87% | 10.6% | 8.13% | 14.85% | 11.79% | 7.61% | 4.18% | 3.81% |
| FY 2017 Q1 | Jul 29, 2016 | 61.59% | 7.19% | 4.95% | 11.82% | 17.62% | 14.84% | 2.78% | 4.02% |
| FY 2016 Q4 | Apr 29, 2016 | 59.28% | 4.64% | -0.58% | 10.22% | 25% | 22.46% | 2.54% | 4.42% |
| FY 2016 Q3 | Jan 29, 2016 | 61.69% | 11.9% | 11.04% | 16.67% | 25.61% | 22.66% | 2.96% | 4.55% |
| FY 2016 Q2 | Oct 30, 2015 | 61.18% | 10.03% | 7.89% | 14.67% | 10.03% | 6.85% | 3.18% | 4.08% |
| FY 2016 Q1 | Jul 31, 2015 | 61.12% | -1.95% | -2.25% | 3.22% | 9.66% | 6.82% | 2.85% | 5.77% |
| FY 2015 Q4 | Apr 24, 2015 | 60.74% | 10.5% | 8.76% | 15.21% | 25.76% | 23.34% | 2.42% | 4.1% |
| FY 2015 Q3 | Jan 23, 2015 | 63.01% | 13.05% | 11.4% | 18.18% | 17.7% | 15.86% | 1.84% | 4.25% |
| FY 2015 Q2 | Oct 24, 2014 | 63.7% | 12.48% | 10.36% | 17.51% | 24.73% | 21.41% | 3.31% | 4.4% |
| FY 2015 Q1 | Jul 25, 2014 | 62.99% | 10.74% | 5.94% | 15.94% | 14.47% | 10.55% | 3.92% | 4.18% |
| FY 2014 Q4 | Apr 25, 2014 | 63.19% | 13.57% | 11.95% | 18.55% | 22.41% | 19.01% | 3.4% | 4.08% |
| FY 2014 Q3 | Jan 24, 2014 | 62.25% | 14.08% | 11.93% | 19.27% | 20.61% | 17.01% | 3.6% | 4.47% |
| FY 2014 Q2 | Oct 25, 2013 | 62.27% | 12.06% | 10.76% | 17.38% | 23.39% | 20.67% | 2.72% | 4.36% |
| FY 2014 Q1 | Jul 26, 2013 | 59.99% | 6.39% | 5.38% | 12.06% | 18.85% | 14.54% | 4.31% | 4.37% |
| FY 2013 Q4 | Apr 26, 2013 | 60.13% | 11.91% | 10.13% | 17.1% | 26.54% | 22.84% | 3.71% | 3.79% |
| FY 2013 Q3 | Jan 25, 2013 | 59.19% | 11.53% | 9.7% | 16.83% | 22.4% | 15.61% | 6.79% | 4.13% |
| FY 2013 Q2 | Oct 26, 2012 | 59.3% | 8.78% | 7.11% | 14.4% | 21.83% | 17.47% | 4.35% | 4.22% |
| FY 2013 Q1 | Jul 27, 2012 | 58.85% | 5.55% | 4.42% | 11.26% | 15.87% | 11.58% | 4.28% | 5.48% |
| FY 2012 Q4 | Apr 27, 2012 | 58.44% | 13% | 10.61% | 17.86% | 34.22% | 26.93% | 7.3% | 3.51% |
| FY 2012 Q3 | Jan 27, 2012 | 58.03% | 10% | 7.64% | 14.7% | 17.2% | 11.36% | 5.83% | 4.9% |
| FY 2012 Q2 | Oct 28, 2011 | 60.58% | 12.77% | 10.99% | 17.31% | 24.57% | 18.37% | 6.19% | 4.18% |
| FY 2012 Q1 | Jul 29, 2011 | 61.51% | 12.08% | 9.57% | 16.78% | 16.5% | 9.76% | 6.74% | 3.98% |
| FY 2011 Q4 | Apr 29, 2011 | 64.99% | 18.49% | 11.24% | 21.45% | 30.86% | 25.76% | 5.1% | 3.37% |
| FY 2011 Q3 | Jan 28, 2011 | 64.96% | 15.66% | 13.6% | 18.89% | 28.66% | 23.44% | 5.23% | 3.55% |
| FY 2011 Q2 | Oct 29, 2010 | 66.35% | 16.35% | 13.63% | 19.79% | 30.21% | 26.62% | 3.59% | 3.12% |
| FY 2011 Q1 | Jul 30, 2010 | 63.67% | 14.43% | 12.46% | 18.01% | 15.58% | 12.05% | 3.53% | 3.89% |
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.
FCF subtracts reported cash capital investment. PPE purchases are preferred; the productive-assets fallback also includes software and intangibles. Acquisitions and noncash lease additions are excluded. EPS and weighted shares are not summed across quarters. Annual figures use annual reports.
The SBC option subtracts reported share-based compensation from FCF as an economic-cost scenario. Missing SBC never becomes zero.
Market prices: Yahoo Finance · NTAP, USD. Latest completed close Sep 25, 2026. Price data retrieved Sep 28, 2026.
- Gross margin
- Gross profit / revenue × 100. Uses revenue − reported cost of revenue when gross profit is absent.
- Operating margin
- Operating income / revenue × 100. Uses reported operating income, or reported pretax income less the complete nonoperating income/expense total when both are available.
- Net margin
- Reported net income / revenue × 100.
- EBITDA margin
- (Operating income + reported depreciation and amortization) / revenue × 100. An EBITDA proxy, not adjusted EBITDA.
- Operating cash flow margin
- Operating cash flow / revenue × 100.
- Free cash flow margin
- Free cash flow / revenue × 100. Reflects the selected reported capex scope and the SBC option.
- Capex / revenue
- Reported cash capital investment / revenue × 100. Uses PPE purchases or, when those are not separately tagged, the broader productive-assets total.
- SBC / revenue
- Reported share-based compensation / revenue × 100.