NASDAQ: NTAP
NetApp, Inc.
Technology · Computer Hardware
After hours: $171.12(+0.78%) · as of 7:19 PM ET
Market Cap
$33.27B
52w High
$192.83
52w Low
$93.69
P/E
26.48
Volume
1.71M
Outstanding Shares
195.92M
Price vs Fundamentals
Why The Stock Is Moving
Note: The most recent financial data is over 3 months old. Metrics shown may not reflect the latest reporting period.
What changed
The stock rose 58.83% over the last year. Revenue grew 5.37% over the trailing twelve months. Operating margin moved from 20.34% to 24.12%. Free cash flow grew 39.69% over the trailing twelve months.
What the market seems to be pricing
The stock is trading toward the richer end of its historical P/FCF range (93rd percentile) while business metrics are improving. More of the upside is already embedded in the multiple now.
What would invalidate this read
Operating margin is at 24.12% — continued expansion would be needed to justify the premium. Revenue growth of 5.37% is encouraging, but any deceleration puts the stretched multiple at risk. This read changes if revenue, margins, and cash flow continue to improve faster than expected — in that case the richer multiple could still prove conservative.
Company profile
NetApp, Inc. is a technology company focused on providing cloud-centric and data-driven services that enable businesses worldwide to efficiently manage and share their information across on-premises infrastructure, private cloud setups, and public cloud platforms.
Valuation
Stock splits
Every 1 shares became 2
Every 1 shares became 2
Every 1 shares became 2
Every 1 shares became 2
Profitability & growth
Analyst consensus
26
Buy
36
Hold
9
Sell
Analyst ratings tend to be lagging indicators. Use as one signal among many.
Earnings
Full quarter-by-quarter history of actuals vs estimates. Switch into compare mode to inspect one metric year-over-year.
Next report
Sep 2, 2026
Q3 FY26 · EPS est $2.11 · Revenue est $1.83B
View
Dividends
$2.08/shareQuarterlyDividend Achiever · 12yrSafeNTAP pays a dividend with a 1.22% dividend yield, 12 consecutive years of growth, growing at 1.4% annually, covered 4.5× by free cash flow.
Dividend Yield
1.22%
Annual Div / Share
$2.08
5yr CAGR
+1.4%
Doubles every ~49.7yr
Payout Ratio
32.37%
Safe
Dividend Growth Rate
3yr CAGR
+1.32%
5yr CAGR
+1.4%
10yr CAGR
+11.04%
Dividend History
Annualized dividend cycles per share
Income Projection
Today
$1/mo
In 5 yrs
$1/mo
In 10 yrs
$1/mo
| Today | In 5 yrs | In 10 yrs |
|---|---|---|
$12/yr $1/mo | $13/yr+7% $1/mo | $14/yr+15% $1/mo |
Yield-on-cost grows from 1.22% → 1.41% over 10yr
Analysis
Dividend Strengths
Dividend Achiever
NTAP has raised its dividend for 12 consecutive years — qualifying as a Dividend Achiever, demonstrating long-term commitment to shareholder income.
Well-covered by free cash flow
The dividend is covered 4.5× by free cash flow, indicating the company generates sufficient cash to sustain and potentially grow the payout without straining its finances.
Risks to Watch
No strong risk signal stands out from the latest period pair.