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Screener / SEC EDGAR /CIK 0001002047 /10-K filed Jun 5, 2026, compared with Jun 9, 2025 /Numbers from the XBRL of the 10-Ks
Technology peers:
COHRFTNTPLTRKEYSNTAPADSK
Nasdaq Technology · Computer Storage

NetApp NTAP

NTAP quote by TradingView

NetApp, Inc. (NetApp, we, us, or the Company), headquartered in San Jose, California, is a global leader in Intelligent Data Infrastructure. 10-K, Item 1

Employees
11,700
Headquarters
San Jose, CA
CEO
George Kurian
Next results
around Nov 24, 2026
Compare with peers Embed

Where each dollar of revenue went, FY2026

Revenue of $6.9B through the costs to a net profit of $1.3B · income statement of the 10-K

24% operating margin
Revenue to Gross profit: $4.9BRevenue to Cost of revenue: $2.0BGross profit to Operating profit: $1.7BGross profit to Operating expenses: $3.2BOperating profit to Net profit: $1.3BOperating profit to Tax & other: $398.0MOperating expenses to R&D: $991.0MOperating expenses to Sales, admin & other: $2.2B Revenue: $6.9B REVENUE $6.9B +5% Y/Y Gross profit: $4.9B · 71% margin GROSS PROFIT $4.9B 71% margin · +6% Y/Y Cost of revenue: $2.0B · 29% of revenue COST OF REVENUE $2.0B 29% of revenue Operating profit: $1.7B · 24% margin OPERATING PROFIT $1.7B 24% margin · +25% Y/Y Operating expenses: $3.2B · 47% of revenue OPERATING EXPENSES $3.2B 47% of revenue Net profit: $1.3B · 18% margin NET PROFIT $1.3B 18% margin · +8% Y/Y Tax & other: $398.0M · 6% of revenue TAX & OTHER $398.0M 6% of revenue R&D: $991.0M · 14% of revenue R&D $991.0M 14% of revenue Sales, admin & other: $2.2B · 32% of revenue SALES, ADMIN & OTHER $2.2B 32% of revenue
Gross profit $4.9B 71% margin · +6% Y/Y
Operating profit $1.7B 24% margin · +25% Y/Y
Net profit $1.3B 18% margin · +8% Y/Y
The full income statement, year by year

NTAP among Technology peers

Six ratios from the latest 10-K. Each corner is the share of 74 peers the company is above, not a score.

Compare
Revenue growth: 5.4%, above 12% of 74 peers (their median 14.1%) REVENUE GROWTH 5.4% · above 12% Gross margin: 70.6%, above 75% of 67 peers (their median 56.4%) GROSS MARGIN 70.6% · above 75% Operating margin: 25.0%, above 56% of 70 peers (their median 22.2%) OPERATING MARGIN 25.0% · above 56% Net margin: 19.2%, above 51% of 74 peers (their median 18.9%) NET MARGIN 19.2% · above 51% FCF margin: 22.3%, above 50% of 70 peers (their median 23.7%) FCF MARGIN 22.3% · above 50% Return on capital: 32.5%, above 85% of 61 peers (their median 12.6%) RETURN ON CAPITAL 32.5% · above 85%
NTAP Peer median Below the median

What changed

8 new risk paragraphs. 10-K filed Jun 5, 2026 against Jun 9, 2025.

Risk factors
8 new paragraphs, nothing like them in the previous 10-K
10-K Item 1A
Accounting checks
11 other checks clear
10-K · XBRL
Insiders
No open-market buys in the last 90 days
Form 4
Filings
0 in the last 30 days
EDGAR

Each row opens the detail with the quote and the filing. A row is a change worth reading, not a verdict.

Accounting checks

11 checks on the latest 10-K. Checks, not verdicts.

How it works

0facts worth reading about all 11 checks found nothing to note

  • Receivables +3.2% vs revenue +5.4% (-2.2 pts)
  • Cash from operations $2.1B vs net income $1.3B (FY ending Apr 24, 2026)
  • Inventory +6.5% vs revenue +5.4% (+1.1 pts)
8 more checks with nothing to note
  • Same auditor in both 10-Ks: DELOITTE & TOUCHE LLP
  • No statement of substantial doubt about going concern
  • No 8-K item 4.02 in the last 2 years
  • No NT 10-K or NT 10-Q in the last 2 years
  • The same matters as last year: Revenue
  • No sentence in the 10-K concludes that controls were not effective because of a material weakness
  • No 8-K item 2.06 in the last 2 years
  • No 8-K item 1.03 in the last 2 years

In their words

8 paragraphs in Risk Factors that were not in the 10-K filed Jun 9, 2025. Quoted as filed.

All 8 new paragraphs
  1. Item 1A · new paragraph · not in the 10-K filed Jun 9, 2025 10-K, ITEM 1A
    The rapid emergence of generative artificial intelligence (GenAI), including agentic AI, is reshaping demand patterns for storage and data management infrastructure in ways that are still evolving. Our ability to keep pace with the changing requirements of these technologies, and to adapt our products and go-to-market strategies…
  2. Item 1A · new paragraph · not in the 10-K filed Jun 9, 2025 10-K, ITEM 1A
    Customer demand continues to be influenced by cloud adoption, digital transformation initiatives, cybersecurity requirements, and increasing use of artificial intelligence and data-driven applications, driving significant changes in storage architectures and solution requirements. The emergence of artificial intelligence workloads has…
  3. Item 1A · new paragraph · not in the 10-K filed Jun 9, 2025 10-K, ITEM 1A
    In response to evolving and increasing security threats, the U.S. government has imposed, and may impose in the future, requirements relating to product security, supply chain security, and cyber/information security that have impacted, and may in the future impact NetApp. Failure to meet these requirements as they apply to us and our…

New risk paragraphs, against peers

Latest 10-K of each, Technology companies closest in revenue

Paragraphs in Risk Factors with nothing like them in the company's 10-K the year before. A count of text, not of risk.

Financial performance

Last 4 fiscal years · 10-K XBRL

All years
MetricFY2023FY2024FY2025FY2026
Revenue$6.4B$6.3B$6.6B$6.9B
Net income$1.3B$986.0M$1.2B$1.3B
Operating cash flow$1.1B$1.7B$1.5B$2.1B
Free cash flow$868.0M$1.5B$1.3B$1.9B

Revenue, FY2017 to FY2026

Ten fiscal years, each from its own 10-K · XBRL · USD

$6.9B ▲ 5.4% in FY2026

FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025FY2026
Every number, year by year

Recent filings

No new filings in the last 30 days · SEC EDGAR

All filings

Nothing new. The most recent filings:

About the company

NetApp, San Jose, CA · from the 10-K filed Jun 5, 2026

NetApp, Inc. (NetApp, we, us, or the Company), headquartered in San Jose, California, is a global leader in Intelligent Data Infrastructure. Since our founding in 1992, we have transformed from a pioneering storage hardware provider into a software-driven, cloud-centric data infrastructure company. Our flagship ONTAP® data management software, together with a comprehensive portfolio of all-flash, hybrid-flash, and cloud-native solutions, forms the backbone of digital transformation for thousands of enterprises worldwide. NetApp empowers organizations to manage, protect, and leverage data across on-premises, hybrid, and multi-cloud environments.

Headquarters
San Jose, CA
Country
United States
Reports in
USD
Listed on
Nasdaq
Fiscal year ends
April 24
Last results
Sep 2, 2026
Incorporated in
CA

Employees, at the top of the page: "As of April 24, 2026, we had approximately 11,700 employees worldwide" (10-K). Address and exchange: SEC's company file.

Email alerts

Sources

The 10-K filed Jun 5, 2026 (open at SEC), compared with the 10-K filed Jun 9, 2025. Numbers from the XBRL of the 10-Ks; filings from SEC EDGAR.

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