NTAP
NetAppPrevious close
199.18
Change
−19.24 / −8.81%
P/E (TTM) ?
30.3
Market Cap
$38.7B
1M
−5.19%
S&P 500 −0.91% over same period
Volume / Avg Volume
2.6M / 1.7M
1.51× average
Latest earnings analysisFY2027 Q1Reported 2026-09-02
NetApp Q1 FY2027: record $2.03 billion revenue, up 30.0%, guidance raised
NetApp opened fiscal 2027 with its strongest first quarter ever: revenue of $2.03 billion, up 30.0%, and non-GAAP EPS of $2.58. GAAP EPS of $1.88 was 63.5% higher than a year ago. The read-through is simple — the growth came from product and all-flash hardware, not from accounting. The caveats are a guided gross-margin step-down to 66.0%–67.0% and free cash flow that fell 35.3% year-over-year.
Read the full analysis →Revenue$2.02BYoY +29.90%
EPS (non-GAAP)$2.58
Next-quarter revenue guidance$2.10B ±3.57%Below estimatesest. $2.15B
Next-day move+2.55%
Recent Earnings
Click to read the FinDog analysis| Period | Reported | Revenue | Analysis |
|---|---|---|---|
| FY2027 Q1 Quarter ended 2026-07 | 2026-09-02 | $2.0B | Read analysis → |
| FY2026 Q4 Quarter ended 2026-04 | 2026-05-28 | $6.9B | Pending |
| FY2026 Q3 Quarter ended 2026-01 | 2026-02-26 | $1.7B | Pending |
| FY2026 Q2 Quarter ended 2025-10 | 2025-11-25 | $1.7B | Pending |
| FY2026 Q1 Quarter ended 2025-07 | 2025-08-27 | $1.6B | Pending |
| FY2025 Q4 Quarter ended 2025-04 | 2025-05-29 | $6.6B | Pending |
Decision Panel
Trends · Valuation · Earnings reaction · Guidance credibility — all from company filings and market dataValuation
P/E is at percentile 95 of its 5-year rangeExpensive
5-year range 13.9 – 30.0 · Median 22.1
Last 4 quarters: $850M in buybacks + $411M in dividends, 3.26% of market cap combined
P/E (TTM)
30.3
P/B
28.7
P/S
5.8
Dividend Yield
2.55%
Earnings Reaction
Over the last 6 reports, the stock moved ±5.3% on average on the first trading day after, rising 3 times
Most recent +2.55%
Guidance Credibility
Of the last 4 next-quarter revenue guides, 4 were met; actual results averaged 3.8% above guidance
Volatility & Correlation
1-year beta 1.44 · Correlation with S&P 500 0.40High beta
Annualized volatility 46% vs. 13% for the S&P 500
Insider Trading
View all →Last 90 days · Open-market buys and sells by officers and directors · Amounts in USD millions
Buy 0 · $0.00MSell 14 · $36.2MNet selling $36.2M
- 10-12O'Callahan Elizabeth MEVP, Chief Admin. OfficerSell$0.24M1,000 shares · Avg price 237.42
- 10-02Palin CarrieDirectorSell$1.1M5,000 shares · Avg price 216.43
- 10-01Kurian GeorgeCEOSell$2.1M10,000 shares · 4 trades · Avg price 210.04
- 10-01HELD GERALDDirectorSell$1.2M5,757 shares · Avg price 212.00
- 09-29Kurian GeorgeCEOSell$10.5M50,000 shares · Avg price 209.95
- 09-24Kurian GeorgeCEOSell$7.4M37,000 shares · Avg price 199.95
- 09-21Ahuja DeepakDirectorSell$0.69M3,450 shares · Avg price 200.00
- 09-21Kurian GeorgeCEOSell$2.6M13,000 shares · Avg price 200.01
Multi-Quarter Financial Trends
View all quarters →Last 12 quarters · As reported by the company
| Quarter | Revenue ($B) | YoY | Gross Margin | Net Income ($B) | EPS |
|---|---|---|---|---|---|
| FY2027 Q1 | 2.03 | +29.9% | 70.1% | 0.38 | 1.88 |
| FY2026 Q4 | 1.95 | +12.5% | 70.1% | 0.40 | 2.02 |
| FY2026 Q3 | 1.71 | +4.4% | 70.6% | 0.33 | 1.67 |
| FY2026 Q2 | 1.71 | +2.8% | 72.0% | 0.31 | 1.51 |
| FY2026 Q1 | 1.56 | +1.2% | 70.4% | 0.23 | 1.15 |
| FY2025 Q4 | 1.73 | +3.8% | 68.9% | 0.34 | 1.64 |
| FY2025 Q3 | 1.64 | +2.2% | 69.8% | 0.30 | 1.44 |
| FY2025 Q2 | 1.66 | +6.1% | 71.0% | 0.30 | 1.42 |
| FY2025 Q1 | 1.54 | +7.6% | 71.3% | 0.25 | 1.17 |
| FY2024 Q4 | 1.67 | +5.5% | 70.5% | 0.29 | 1.36 |
| FY2024 Q3 | 1.61 | +5.2% | 71.7% | 0.31 | 1.48 |
| FY2024 Q2 | 1.56 | −6.1% | 71.1% | 0.23 | 1.10 |
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