How does this firm manage enterprise data?
NetApp Inc builds data storage and data management offerings used by organizations to store, protect, and manage information. The company’s products are geared toward enterprise IT environments where reliability and continuity matter. Its business spans hardware and software-style capabilities that support ongoing data operations. With a market value around USD 33.1 billion, it sits in the large-cap range.
Are profits and cash flow holding steady?
FundamentalsFor the year ended April 24, 2026 (reported in USD), revenue was about USD 6.9 billion, alongside EBIT of roughly USD 1.7 billion and net income of about USD 1.3 billion. Revenue growth for the latest annual period versus the prior year was 5.4%, while trailing margins remained high, with a 70.74% gross margin and a 24.17% operating margin.
Cash was around USD 2.1 billion and total debt was reported as zero. Depreciation and amortization were about USD 200 million, close to capital expenditure of USD 198 million, bringing the cash flow proxy to roughly USD 1.3 billion under the stated methodology.
Is the market pricing in too much strength?
DCF / MultiplesAt USD 168.87, the stock price sits above the DCF fair value range, which runs from USD 77.60 in a weaker scenario to USD 104.53 centrally and USD 131.46 in a stronger outcome. Headline multiples also frame the pricing level, with a 26.69 P/E and 18.05 EV/EBITDA on a trailing basis.
Cautious outlook at current valuation
TakeawayThe current price leans on the business staying resilient. Durable margins and cash generation need to hold up. Growth likely has to remain steady to justify today’s level. Any slip in profitability would matter more at this price. Overall, the setup looks cautious rather than forgiving.