Revenue and profitability overview
- Revenue: 1,641,000,000 USD; YoY change: -1.62%; QoQ change: -1.03%
- Gross profit: 1,145,000,000 USD; YoY change: -2.64%; QoQ change: -2.72%
- Gross margin: 0.6977
- Operating income: 362,000,000 USD; YoY change: -1.09%; QoQ change: +4.93%
- Operating margin: 0.221 (22.06%)
- Net income: 299,000,000 USD; YoY change: +2.75%; QoQ change: 0.00%
- Net margin: 0.182
- Earnings per share: 1.47 (EPS); Diluted EPS: 1.44
Cost structure and efficiency
- EBITDA: 446,000,000 USD; EBITDA margin: 27.18%
- Interest expense: 12,000,000 USD; Depreciation & amortization: 64,000,000 USD
- Tax expense: 71,000,000 USD; Effective tax rate: ~19.2%
Cash flow and capital allocation
- Net cash from operating activities: 385,000,000 USD
- Capital expenditures: 47,000,000 USD
- Free cash flow: 338,000,000 USD
- Net change in cash: +31,000,000 USD; cash at end of period: 1,518,000,000 USD
- Dividends paid: 106,000,000 USD; common stock repurchased: 200,000,000 USD; common stock issued: 53,000,000 USD
Balance sheet and liquidity
- Total assets: 8,989,000,000 USD; total liabilities: 7,994,000,000 USD; total stockholders’ equity: 995,000,000 USD
- Cash and cash equivalents: 1,511,000,000 USD; total debt: 2,250,000,000 USD; net debt: 739,000,000 USD
- Current ratio: 0.932; Quick ratio: 0.868; Cash ratio: 0.360
- Working capital dynamics driven by customer deferrals (deferred revenue: 2,070,000,000 USD) and productive asset base (Goodwill: 2,723,000,000 USD; intangible assets: 49,000,000 USD)
Valuation and growth signal
- Price-to-earnings: 21.49x; price-to-sales: 15.66x; price-to-book: 25.83x; EV/EBITDA: not disclosed directly, but EV multiple cited as 59.29 in the dataset
- Dividend yield: 0.41%; Dividend payout ratio: 35.5%
- Enterprise value multiple and equity value reflect a premium for NetApp’s multi-cloud data-management platform and recurring revenue characteristics, balanced by modest revenue growth and leverage considerations.