NetApp, Inc.

10-K & 10-Q Filings

NetApp, Inc. is a global cloud-led, data-centric software company based in San Jose, California. The company was incorporated in 1992 and offers a portfolio of cloud services and storage infrastructure, powered by intelligent data management software. NetApp's business strategy focuses on helping organizations meet the complexities created by rapid data and cloud growth, multi-cloud management, and the adoption of next-generation technologies. The company's portfolio is organized into two segments: Hybrid Cloud and Public Cloud. Hybrid Cloud offers a range of storage management and infrastructure solutions designed to recast traditional data centers into modern data centers with the power of the cloud. Public Cloud offers a portfolio of products delivered primarily as-a-service, including cloud storage and data services and cloud operations services. NetApp's website is www.netapp.com, and its ticker symbol is NTAP. The company's mission is to provide customers with the ability to leverage data across their entire estate with simplicity, security, and sustainability, increasing relevance and value in a hybrid, multicloud environment. NetApp's hybrid cloud portfolio includes intelligent data management software, such as NetApp ONTAP, and a range of storage infrastructure solutions, including All-Flash FAS, QLC-Flash FAS, Fabric Attached Storage, and StorageGRID. The public cloud portfolio includes cloud storage, data services, and software, such as the NetApp Cloud Volumes Platform and cloud operations services, such as NetApp Cloud Insights and Spot by NetApp. NetApp's sales efforts are organized around the evolving needs of its current and targeted customers, and its marketing initiatives reflect this focus. The company uses a multichannel distribution strategy, selling its products and services to end-user business customers and service providers through a direct sales force and an ecosystem of partners. NetApp's customer base spans various industries, including energy, financial services, government, technology, internet, life sciences, healthcare services, manufacturing, media, entertainment, animation, video postproduction, and telecommunications. NetApp's research and development team delivers innovation to help customers create an evolved cloud experience. The company conducts research and development activities in various locations throughout the world and invests substantially in this area to maintain its technical leadership. NetApp competes with many companies in the markets it serves, including legacy IT and storage vendors, public cloud providers, and other software companies. The company's competitive advantage includes its software innovation, cloud integration, and technology partnerships. NetApp also relies on patent, copyright, trademark, trade secret, and contract laws to establish and maintain its proprietary rights in its technology, products, and services. NetApp is committed to reducing greenhouse gas emissions, efficiently using natural resources, and minimizing the environmental impacts from its operations, products, and services. The company voluntarily measures, monitors, and publicly reports its scope 1, scope 2, and scope 3 greenhouse gas emissions and water impacts to CDP. NetApp optimizes the energy efficiency of its buildings, labs, and data centers and has increased its use of renewable energy. The company is subject to various international, federal, state, and local regulations regarding workplace safety and protection of the environment.

12 mos ending Apr 27, 201212 mos ending Apr 26, 201312 mos ending Apr 25, 201412 mos ending Apr 24, 201512 mos ending Apr 29, 201612 mos ending Apr 28, 201712 mos ending Apr 27, 201812 mos ending Apr 26, 201912 mos ending Apr 24, 202012 mos ending Apr 30, 202112 mos ending Apr 29, 202212 mos ending Apr 28, 20239 mos ending Jan 27, 20239 mos ending Jan 26, 2024CAGR %YoY %Revenue (+)
$6233.20
6332.40
6325.10
6122.70
5546.00
5519.00
5911.00
6146.00
5412.00
5744.00
6318.00
6362.00
4781.00
4600.00
0.19%-3.79%Cost of Revenue (-)
$2519.80
2571.30
2406.00
2289.50
2173.00
2129.00
2212.00
2201.00
1789.00
1929.00
2098.00
2153.00
1647.00
1343.00
-1.42%-18.46%Gross Profit (+)
$3713.40
3761.10
3919.10
3833.20
3373.00
3390.00
3699.00
3945.00
3623.00
3815.00
4220.00
4209.00
3134.00
3257.00
1.15%3.92%Selling, General & Administrative (-)
$2128.90
2247.40
2179.20
2197.40
2099.00
1904.00
2009.00
1935.00
1848.00
2001.00
2136.00
2094.00
1585.00
1598.00
-0.15%0.82%Research & Development (-)
$828.20
904.20
917.30
919.30
861.00
779.00
783.00
827.00
847.00
881.00
881.00
956.00
713.00
758.00
1.31%6.31%Non-recurring Operating Expenses (-)
$
88.30
108.00
52.00
35.00
21.00
58.00
46.00
141.00
127.00
53.00
-58.27%Operating Expenses (-)
$2966.90
3153.30
3184.80
3116.70
3025.00
2725.00
2574.00
2724.00
2678.00
2784.00
3063.00
3191.00
2425.00
2409.00
0.66%-0.66%Costs & Expenses (Total) (-)
$5486.70
5724.60
5590.80
5406.20
5198.00
4854.00
4786.00
4925.00
4467.00
4713.00
5161.00
5344.00
4072.00
3752.00
-0.24%-7.86%Operating Income/Loss (+)
$746.50
607.80
734.30
716.50
348.00
665.00
1125.00
1221.00
945.00
1031.00
1157.00
1018.00
709.00
848.00
2.86%19.61%Non-operating Income/Expense (+)
$-34.10
-41.20
6.40
-3.70
-3.00
41.00
47.00
-1.00
-69.00
-62.00
48.00
43.00
35.00
-18.60%Interest Expense (-)
$74.70
91.70
36.10
Earnings before Tax (+)
$712.40
566.60
740.70
712.80
345.00
665.00
1166.00
1268.00
944.00
962.00
1095.00
1066.00
752.00
883.00
3.73%17.42%Tax Expense (-)
$107.00
61.30
103.20
152.90
116.00
156.00
1090.00
99.00
125.00
232.00
158.00
-208.00
-277.00
188.00
167.87%Income/Loss (Continuing Operations) (+)
$605.40
505.30
637.50
559.90
229.00
509.00
76.00
1169.00
819.00
730.00
937.00
1274.00
1029.00
695.00
7.00%-32.46%Net Income/Loss (+)
$605.40
505.30
637.50
559.90
229.00
509.00
76.00
1169.00
819.00
730.00
937.00
1274.00
1029.00
695.00
7.00%-32.46%Net Income/Loss (Common) (+)
$605.40
505.30
637.50
559.90
229.00
509.00
76.00
1169.00
819.00
730.00
937.00
1274.00
1029.00
695.00
7.00%-32.46%EPS (Basic)
$1.66
1.40
1.87
1.77
0.78
1.85
0.28
4.60
3.56
3.29
4.20
5.87
4.72
3.33
12.17%-29.45%EPS (Diluted)
$1.58
1.37
1.83
1.75
0.77
1.81
0.28
4.51
3.52
3.23
4.09
5.79
4.66
3.26
12.53%-30.04%Weighted Avg Shares (Basic)
363.90
361.50
340.30
315.50
294.00
275.00
268.00
254.00
230.00
222.00
223.00
217.00
218.00
209.00
-4.59%-4.13%Weighted Avg Shares (Diluted)
384.30
368.00
347.90
320.70
297.00
281.00
276.00
259.00
233.00
226.00
229.00
220.00
221.00
213.00
-4.94%-3.62%Cash
$1549.80
3277.10
2291.00
1921.50
2868.00
2444.00
2941.00
2325.00
2658.00
4529.00
4112.00
2316.00
2640.00
1820.00
3.72%-31.06%Short-term Investments
$3848.70
3675.50
2712.30
3404.70
2435.00
2477.00
2450.00
1574.00
224.00
67.00
22.00
754.00
501.00
1097.00
-13.77%118.96%Receivables
$830.90
800.90
855.90
778.90
813.00
731.00
1009.00
1216.00
973.00
945.00
1230.00
987.00
821.00
787.00
1.58%-4.14%Inventory
$161.50
139.50
122.40
146.50
98.00
163.00
126.00
131.00
145.00
114.00
204.00
167.00
175.00
131.00
0.30%-25.14%Other Assets (Current)
$435.60
525.20
489.70
521.80
234.00
383.00
330.00
364.00
274.00
346.00
377.00
456.00
403.00
492.00
0.42%22.08%Assets (Current)
$6826.50
8418.20
6471.30
6773.40
6448.00
6198.00
6856.00
5610.00
4274.00
6001.00
5945.00
4680.00
4540.00
4327.00
-3.37%-4.69%Property, Plant & Equipment (Net)
$1137.20
1170.90
1108.80
1029.90
937.00
799.00
756.00
759.00
727.00
525.00
602.00
650.00
667.00
607.00
-4.96%-9.00%Goodwill & Intangibles
$1141.20
1168.70
1109.60
1116.90
1856.00
1815.00
1833.00
1782.00
1822.00
2140.00
2488.00
2940.00
2965.00
2897.00
8.98%-2.29%Other Assets
$427.40
484.60
529.50
481.00
796.00
681.00
420.00
590.00
699.00
694.00
991.00
1548.00
1538.00
1538.00
12.41%0.00%Assets (Non-current)
$2705.80
2824.20
2747.90
2627.80
3589.00
3295.00
3009.00
3131.00
3248.00
3359.00
4081.00
5138.00
5170.00
5042.00
6.00%-2.48%Assets (Total)
$9532.30
11242.40
9219.20
9401.20
10037.00
9493.00
9865.00
8741.00
7522.00
9360.00
10026.00
9818.00
9710.00
9369.00
0.27%-3.51%Accounts Payable
$573.40
607.70
654.80
984.80
1019.00
1129.00
1434.00
1393.00
1200.00
1390.00
1532.00
1249.00
1267.00
1272.00
7.33%0.39%Debt (Current)
$1202.30
1257.80
849.00
1249.00
385.00
649.00
522.00
250.00
400.00
Other Liabilities (Current)
$1744.10
1965.10
2039.80
1724.20
1794.00
1744.00
1804.00
1825.00
1894.00
2062.00
2171.00
2218.00
2126.00
2093.00
2.21%-1.55%Liabilities (Current)
$3519.80
3830.60
2694.60
2709.00
3662.00
4122.00
3623.00
3867.00
3616.00
3452.00
3953.00
3467.00
3393.00
3765.00
-0.14%10.96%Debt (Non-current)
$
994.60
995.50
1487.50
1490.00
744.00
1541.00
1144.00
1146.00
2632.00
2386.00
2389.00
2388.00
1991.00
-16.62%Other Liabilities
$1656.30
1699.70
1742.60
1790.60
2004.00
1847.00
2634.00
2640.00
2518.00
2591.00
2849.00
2803.00
2827.00
2619.00
4.90%-7.36%Liabilities (Non-current)
$1656.30
2694.30
2738.10
3278.10
3494.00
2591.00
4175.00
3784.00
3664.00
5223.00
5235.00
5192.00
5215.00
4610.00
10.95%-11.60%Liabilities (Total)
$5176.10
6524.90
5432.70
5987.10
7156.00
6713.00
7798.00
7651.00
7280.00
8675.00
9188.00
8659.00
8608.00
8375.00
4.79%-2.71%Treasury Stock
$2927.40
2927.40
Retained Earnings
$2805.30
2896.80
1.10
53.20
40.00
-218.00
211.00
122.00
265.00
268.00
115.00
-19.31%-57.09%AOCI
$4.90
8.70
9.10
-23.70
-31.00
-29.00
-70.00
-43.00
-42.00
-30.00
-44.00
-51.00
-55.00
-55.00
0.00%Shareholder's Equity
$4293.60
4717.50
3786.50
3414.10
2881.00
2780.00
2067.00
1090.00
242.00
685.00
838.00
1159.00
1102.00
994.00
-11.22%-9.80%Liabilities & Equity
$9532.30
11242.40
9219.20
9401.20
10037.00
9493.00
9865.00
8741.00
7522.00
9360.00
10026.00
9818.00
9710.00
9369.00
0.27%-3.51%Net Income/Loss
$605.40
505.30
637.50
559.90
229.00
509.00
76.00
1169.00
819.00
730.00
937.00
1274.00
1029.00
695.00
7.00%-32.46%Depreciation & Amortization
$346.00
404.80
343.80
309.90
279.00
226.00
198.00
197.00
193.00
207.00
194.00
248.00
182.00
191.00
-2.98%4.95%Increase/Decrease in Working Capital
$-330.60
-278.50
-206.20
-165.00
-300.00
18.00
-1011.00
109.00
102.00
-285.00
22.00
106.00
-29.00
119.00
510.34%Share-based Compensation
$257.60
276.60
273.00
259.30
260.00
195.00
161.00
158.00
153.00
197.00
245.00
312.00
238.00
269.00
1.76%13.03%Adjustments to Reconcile Net Income
$857.20
881.00
712.10
708.20
745.00
477.00
1402.00
172.00
241.00
603.00
274.00
-167.00
-157.00
377.00
340.13%Net Cash (Operating)
$1462.60
1386.30
1349.60
1268.10
974.00
986.00
1478.00
1341.00
1060.00
1333.00
1211.00
1107.00
872.00
1072.00
-2.50%22.94%Capital Expenditure
$887.10
409.80
221.40
259.90
900.00
183.00
10.00
176.00
101.00
141.00
606.00
730.00
691.00
109.00
-1.76%-84.23%Net Cash (Investing)
$-2310.40
-228.60
760.40
-903.20
85.00
-220.00
-21.00
704.00
1269.00
21.00
-561.00
-1390.00
-1105.00
-438.00
60.36%Increase/Decrease in Debt
$1.00
985.40
-1274.10
485.30
838.00
-358.00
-76.00
-142.00
-133.00
940.00
-2.00
-255.00
-252.00
Increase/Decrease in Equity
$-457.90
-479.40
-1680.10
-1008.30
-890.00
-613.00
-621.00
-1990.00
-1309.00
-27.00
-495.00
-742.00
-592.00
-700.00
-18.24%Dividends Paid
$
202.30
207.40
210.00
208.00
214.00
403.00
439.00
427.00
446.00
432.00
326.00
312.00
-4.29%Net Cash (Financing)
$-343.60
578.90
-3104.00
-675.20
-109.00
-1179.00
-986.00
-2631.00
-1960.00
444.00
-1017.00
-1513.00
-1244.00
-1120.00
9.97%Effect of Exchange Rate
$-16.10
-9.30
7.90
-59.20
-4.00
-11.00
26.00
-30.00
-34.00
71.00
-49.00
-1.00
4.00
-10.00
-350.00%Increase/Decrease in Cash
$-1207.50
1727.30
-986.10
-369.50
946.00
-424.00
497.00
-616.00
335.00
1869.00
-416.00
-1797.00
-1473.00
-496.00
66.33%Cash (Beginning)
$2757.30
1549.80
3277.10
2291.00
1922.00
2868.00
2444.00
2947.00
2331.00
2666.00
4535.00
4119.00
4119.00
2322.00
3.72%-43.63%Cash (Ending)
$1549.80
3277.10
2291.00
1921.50
2868.00
2444.00
2941.00
2331.00
2666.00
4535.00
4119.00
2322.00
2646.00
1826.00
3.74%-30.99%NOPAT
$634.38
542.04
631.99
562.81
230.99
509.00
73.33
1125.67
819.87
782.36
990.05
1216.63
970.16
667.45
6.10%-31.20%Gross Margin %
59.57%
59.39%
61.96%
62.61%
60.82%
61.42%
62.58%
64.19%
66.94%
66.42%
66.79%
66.16%
65.55%
70.80%
Operating Margin %
11.98%
9.60%
11.61%
11.70%
6.27%
12.05%
19.03%
19.87%
17.46%
17.95%
18.31%
16.00%
14.83%
18.43%
NOPAT Margin %
10.18%
8.56%
9.99%
9.19%
4.17%
9.22%
1.24%
18.32%
15.15%
13.62%
15.67%
19.12%
20.29%
14.51%
Net Margin %
9.71%
7.98%
10.08%
9.14%
4.13%
9.22%
1.29%
19.02%
15.13%
12.71%
14.83%
20.03%
21.52%
15.11%
Tax Rate %
15.02%
10.82%
13.93%
21.45%
33.62%
23.46%
93.48%
7.81%
13.24%
24.12%
14.43%
-19.51%
-36.84%
21.29%
ROA
6.66%
4.82%
6.86%
5.99%
2.30%
5.36%
0.74%
12.88%
10.90%
8.36%
9.87%
12.39%
9.99%
7.12%
ROE
14.77%
11.49%
16.69%
16.48%
8.02%
18.31%
3.55%
103.27%
338.79%
114.21%
118.14%
104.97%
88.04%
67.15%
ROIC
25.91%
23.33%
29.33%
30.63%
9.86%
24.72%
3.71%
51.23%
39.78%
41.67%
39.00%
40.26%
34.95%
26.04%
Asset Turnover
0.65
0.56
0.69
0.65
0.55
0.58
0.60
0.70
0.72
0.61
0.63
0.65
0.49
0.49
Inventory Turnover
15.60
18.43
19.66
15.63
22.17
13.06
17.56
16.80
12.34
16.92
10.28
12.89
9.41
10.25
Equity Multiplier
2.22
2.38
2.43
2.75
3.48
3.41
4.77
8.02
31.08
13.66
11.96
8.47
8.81
9.43
Current Ratio
1.94
2.20
2.40
2.50
1.76
1.50
1.89
1.45
1.18
1.74
1.50
1.35
1.34
1.15
Quick Ratio
1.77
2.02
2.17
2.25
1.67
1.37
1.77
1.32
1.07
1.61
1.36
1.17
1.17
0.98
Debt/Equity Ratio
0.28
0.48
0.26
0.44
0.81
0.72
0.93
1.64
6.89
3.84
3.15
2.06
2.17
2.41
Working Capital/Sales
0.03
-0.00
-0.01
-0.05
-0.08
-0.10
-0.10
-0.06
-0.09
-0.14
-0.09
-0.09
-0.18
-0.20
R&D/Sales
0.13
0.14
0.15
0.15
0.16
0.14
0.13
0.13
0.16
0.15
0.14
0.15
0.15
0.16
Dividend Payout Ratio %
32.01%
36.85%
90.91%
40.86%
291.84%
35.80%
53.55%
54.58%
45.05%
35.51%
33.60%
46.74%
Total Payout
$456.90
-506.00
3156.50
730.40
262.00
1179.00
911.00
2535.00
1881.00
-486.00
943.00
1429.00
1170.00
1012.00
10.92%-13.50%Payout Ratio %
72.02%
-93.35%
499.45%
129.78%
113.42%
231.63%
1242.37%
225.20%
229.43%
-62.12%
95.25%
117.46%
120.60%
151.62%