# NetApp, Inc (NTAP) — Stock CV

NetApp, Inc is a $46.7B technology company. Revenue shrank 10.8% over the last year, it keeps 18¢ of every dollar of sales as profit, and it holds more cash than debt. It trades at 32.8× earnings — near the highest of its own history.

> NetApp Inc is storage hardware provider into a software-driven, cloud-centric data infrastructure company.

## Identity

- **Ticker**: NTAP
- **Sector**: Technology
- **Industry**: Computer Storage Devices
- **Headquarters**: SAN JOSE, CA
- **Employees**: 11 700
- **Website**: https://www.netapp.com
- **Market cap**: $46.7B
- **Last price**: $237.68
- **Financial profile**: Strong

## Vitals (TTM)

- **Revenue**: $16.0B
- **Net income**: $2.90B
- **Free cash flow**: $3.64B
- **Net cash**: $1.04B
- **P/E**: 32.8
- **Revenue growth (YoY)**: -10.8%

## Skills (profile scores, 0–100)

| Pillar | Score |
|---|---|
| Valuation | 44 |
| Growth | 43 |
| Profitability | 95 |
| Health | 87 |
| Quality | 95 |
| Moat | 87 |

## Qualifications (beginner checklist) — 10 of 11 passed

- [ ] Revenue growing — -10.8% YoY
- [x] Profitable — $2.90B TTM
- [x] Profit growing — +3.1% YoY
- [x] Generates cash — $3.64B TTM
- [x] Debt under control — more cash than debt
- [x] Established company — $46.7B market cap
- [x] Not printing shares — -14.4% shares over ~5y
- [x] Proven track record — 12/12 profitable years
- [x] Financially stable — Altman Z 3.5 — safe
- [x] Pays a dividend — yield 0.88%
- [x] Valuation not extreme — P/E 32.8

## Experience (career milestones)

- **FY2023** — Best year on record: $3.48B net income
- **FY2017** — Revenue crossed $10B: $12.9B for the year
- **FY2016** — Profitable every year on record: 12 consecutive profitable years in our data
- **FY2016** — Revenue already above $1B: $6.90B in first reported year
- **FY2016** — Positive free cash flow every year since: 12-year streak
- **1992** — Founded in 1992 with an initial public offering in 1995, NetApp offers cloud data services for management of…

## Strengths

- High gross margin (70.6%)
- Strong cash conversion — FCF is 22.8% of revenue
- Net cash position after subtracting debt from cash
- Interest covered 17.6× by operating earnings
- High returns on invested capital (ROIC 82.8%)

## Watch-outs

- Revenue shrinking 10.8% year over year

## Track record

| Year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2023 | $16.0B | $3.48B | $2.11B |
| FY2024 | $15.3B | $2.21B | $3.43B |
| FY2025 | $16.2B | $2.83B | $2.70B |
| FY2026 | $17.2B | $3.06B | $3.94B |
| FY2027 | $2.02B | $375M | $401M |

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Source: https://stockcv.com/NTAP — derived from company filings; may be delayed or incomplete. Information, not investment advice.