NetApp (NTAP) Cost of Revenue (2009 - 2026)
NetApp (NTAP) reported Cost of Revenue of $606 million for fiscal Q1 2027 (quarter ended Jul 31, 2026), up 31.5% from $461 million a year earlier and up 3.9% from the prior quarter.
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Analysis
NetApp (NTAP) Cost of Revenue (2009 - 2026) Analysis & Trends
Over the twelve months ended Jul 31, 2026, NetApp's Cost of Revenue came in at $2.17 billion, up 9.8% year-over-year; for FY2026 (ended Apr 24, 2026), it came in at $2.03 billion, up 3.4% from FY2025.
- Cost of Revenue has a five-year compound annual growth rate of 1.0% (FY2021 to FY2026).
- By fiscal year, Cost of Revenue came in at $1.96 billion in FY2025 (+6.8%), $1.84 billion in FY2024 (-14.8%), $2.15 billion in FY2023 (+2.6%) and $2.1 billion in FY2022 (+8.8%).
- The fiscal Q1 2027 figure ranks as the highest quarterly Cost of Revenue since fiscal Q4 2018.
- Year over year, Cost of Revenue has now increased in each of the last three quarters, with growth averaging 8.7% over the last eight quarters.
- The high point for year-over-year Cost of Revenue in five years was fiscal Q1 2027 (growth of 31.5%); the low point was fiscal Q2 2024 (a decline of 21.5%).
- Per Business Quant data, the three fiscal quarters before Q1 2027 came in at $583 million (Q4 2026), $504 million (Q3 2026) and $478 million (Q2 2026).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Cost of Rev (Qtr) |
|---|---|---|---|---|---|
| 1 | Apple | 4,982.68 Bn | 4,730.17 Bn | 54.77 Bn | 54.65 Bn |
| 2 | Cisco Systems | 421.04 Bn | 356.97 Bn | 11.06 Bn | 6.19 Bn |
| 3 | Dell Technologies | 360.24 Bn | 315.99 Bn | 9.83 Bn | 37.14 Bn |
| 4 | Arista Networks | 260.49 Bn | 213.94 Bn | 1.91 Bn | 1.13 Bn |
| 5 | Sandisk | 259.56 Bn | 248.08 Bn | 7.58 Bn | 1.38 Bn |
| 6 | Seagate Technology Holdings | 207.93 Bn | 202.92 Bn | 1.90 Bn | 1.73 Bn |
| 7 | Western Digital | 164.91 Bn | 153.04 Bn | 2.03 Bn | 1.72 Bn |
| 8 | Sony | 144.83 Bn | 95.22 Bn | 6.53 Bn | 11.27 Bn |
| 9 | Hewlett Packard Enterprise | 83.59 Bn | 61.47 Bn | 4.93 Bn | 7.29 Bn |
| 10 | NetApp | 39.43 Bn | 22.24 Bn | 1.42 Bn | 606.00 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jul 31, 2026 | 606.00 Mn |
| Apr 24, 2026 | 583.00 Mn |
| Jan 23, 2026 | 504.00 Mn |
| Oct 24, 2025 | 478.00 Mn |
| Jul 25, 2025 | 461.00 Mn |
| Apr 25, 2025 | 539.00 Mn |
| Jan 24, 2025 | 496.00 Mn |
| Oct 25, 2024 | 481.00 Mn |
| Jul 26, 2024 | 443.00 Mn |
| Apr 26, 2024 | 492.00 Mn |
| Jan 26, 2024 | 455.00 Mn |
| Oct 27, 2023 | 452.00 Mn |
| Jul 28, 2023 | 436.00 Mn |
| Apr 28, 2023 | 506.00 Mn |
| Jan 27, 2023 | 525.00 Mn |
| Oct 28, 2022 | 576.00 Mn |
| Jul 29, 2022 | 546.00 Mn |
| Apr 29, 2022 | 591.00 Mn |
| Jan 28, 2022 | 541.00 Mn |
| Oct 29, 2021 | 507.00 Mn |
API Access
NetApp Cost of Revenue API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=cost-of-revenue&ticker=NTAP&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "cost-of-revenue", "ticker": "NTAP", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=cost-of-revenue&ticker=NTAP&period=max&api_key=YOUR_API_KEY");
const data = await res.json();