NetApp (NTAP) FCF Margin (2009 - 2026)
NetApp (NTAP) posted FCF Margin of 19.8% for Q3 2026, down 57.14% on a QoQ basis from 46.2% in Q2 2026, and down 1997.0% year-over-year from 1.04% in Q3 2025.
Analysis
NetApp (NTAP) FCF Margin (2009 - 2026) Analysis & Trends
NetApp has reported FCF Margin for 18 years, with the latest figure at 19.8% in Q3 2026.
- On a quarterly basis, FCF Margin fell 1997.0% year-over-year to 19.8% in Q3 2026; TTM through Jul 2026 was 22.32%, a 283.0% decrease from a year earlier, with the FY2026 full-year figure at 26.99%, up 663.0% from the prior year.
- FCF Margin was 19.8% for Q3 2026 at NetApp, down from 46.2% in the prior quarter.
- The five-year high for FCF Margin was 46.2% in Q2 2026, with the low at 3.62% in Q4 2024.
- Average FCF Margin over 5 years is 20.63%, with a median of 19.8% recorded in 2026.
- The sharpest annual moves came in 2024 and 2026: FCF Margin surged 2160 bps in 2024, then slumped 1997 bps in 2026.
- Over 5 years, FCF Margin stood at 8.24% in 2022, then declined by 25 bps to 6.21% in 2023, then slumped by 42 bps to 3.62% in 2024, then rose by 26 bps to 4.57% in 2025, then soared by 333 bps to 19.8% in 2026.
- The last three FCF Margin figures came in at 19.8% (Q3 2026), 46.2% (Q2 2026), and 15.82% (Q1 2026), per Business Quant data.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | FCF Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Dell Technologies | 346.37 Bn | 334.80 Bn | 9.83 Bn | 2.10% |
| 2 | Sandisk | 258.86 Bn | 254.09 Bn | 7.58 Bn | 79.01% |
| 3 | Arista Networks | 243.00 Bn | 229.66 Bn | 1.91 Bn | 34.70% |
| 4 | Seagate Technology Holdings | 194.27 Bn | 192.57 Bn | 1.90 Bn | 30.81% |
| 5 | Western Digital | 166.08 Bn | 164.50 Bn | 2.03 Bn | 34.19% |
| 6 | Hewlett Packard Enterprise | 78.50 Bn | 72.28 Bn | 4.93 Bn | 7.34% |
| 7 | NetApp | 36.16 Bn | 32.59 Bn | 1.42 Bn | 19.80% |
| 8 | Everpure | 32.25 Bn | 31.24 Bn | 811.39 Mn | -20.04% |
| 9 | Super Micro Computer | 23.52 Bn | 15.99 Bn | 1.94 Bn | 6.46% |
| 10 | Penguin Solutions | 2.61 Bn | 2.17 Bn | 133.21 Mn | -16.22% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jul 31, 2026 | 19.80% |
| Apr 24, 2026 | 46.20% |
| Jan 23, 2026 | 15.82% |
| Oct 24, 2025 | 4.57% |
| Jul 25, 2025 | 39.77% |
| Apr 25, 2025 | 36.95% |
| Jan 24, 2025 | 20.60% |
| Oct 25, 2024 | 3.62% |
| Jul 26, 2024 | 19.47% |
| Apr 26, 2024 | 33.99% |
| Jan 26, 2024 | 27.90% |
| Oct 27, 2023 | 6.21% |
| Jul 28, 2023 | 29.19% |
| Apr 28, 2023 | 12.40% |
| Jan 27, 2023 | 20.90% |
| Oct 28, 2022 | 8.24% |
| Jul 29, 2022 | 13.57% |
| Apr 29, 2022 | 20.42% |
| Jan 28, 2022 | 12.33% |
| Oct 29, 2021 | 16.09% |