NetApp (NTAP) Operating Margin (2009 - 2026)
NetApp (NTAP) posted quarterly Operating Margin of 27.31% for Q2 2026, up 722.0% year-over-year from 3.32% in Q2 2025, and up 7.79% quarter-over-quarter from 25.34% in Q1 2026.
NetApp (NTAP) Operating Margin (2009 - 2026) Analysis & Trends
NetApp's Operating Margin history runs 18 years deep, the most recent figure standing at 27.31% for Q2 2026.
- In Q2 2026, Operating Margin rose 722.0% year-over-year to 27.31%; the TTM figure through Apr 2026 stood at 24.17% (up 383.0% YoY), while the FY2026 annual figure was 24.17%, up 383.0% from the prior year.
- Operating Margin for Q2 2026 stood at 27.31%, up from 25.34% in the prior quarter.
- The five-year high for Operating Margin was 34.63% in Q2 2024, with the low at 11.27% in Q1 2023.
- The 5-year median for Operating Margin is 19.85% (2025), against an average of 20.42%.
- The sharpest annual moves came in 2022 and 2024: Operating Margin plunged 2108 bps in 2022, then soared 1508 bps in 2024.
- NetApp's Operating Margin stood at 16.96% in 2022, then advanced by 15 bps to 19.46% in 2023, then advanced by 7 bps to 20.81% in 2024, then gained by 12 bps to 23.4% in 2025, then grew by 17 bps to 27.31% in 2026.
- Business Quant data shows NTAP's Operating Margin at 27.31% in Q2 2026, 25.34% in Q1 2026, and 23.4% in Q4 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Microsoft | 3,679.34 Bn | 3,546.58 Bn | 60.48 Bn | 45.11% |
| 2 | Oracle | 433.50 Bn | 402.15 Bn | - | 31.97% |
| 3 | Palantir Technologies | 418.20 Bn | 408.90 Bn | 1.64 Bn | 47.12% |
| 4 | Palo Alto Networks | 312.41 Bn | 309.30 Bn | 2.03 Bn | -6.10% |
| 5 | Fortinet | 117.38 Bn | 113.31 Bn | 1.64 Bn | 33.66% |
| 6 | Cloudflare | 101.74 Bn | 97.57 Bn | 499.52 Mn | -29.55% |
| 7 | Synopsys | 80.70 Bn | 78.49 Bn | 1.77 Bn | 8.43% |
| 8 | CoreWeave | 58.00 Bn | 52.46 Bn | 1.70 Bn | -1.90% |
| 9 | Block | 49.79 Bn | 43.33 Bn | 3.17 Bn | 6.75% |
| 10 | NetApp | 40.59 Bn | 37.00 Bn | 1.37 Bn | 27.31% |
Historic Data
Download Data| Date | Value |
|---|---|
| Apr 24, 2026 | 27.31% |
| Jan 23, 2026 | 25.34% |
| Oct 24, 2025 | 23.40% |
| Jul 25, 2025 | 19.82% |
| Apr 25, 2025 | 20.09% |
| Jan 24, 2025 | 22.06% |
| Oct 25, 2024 | 20.81% |
| Jul 26, 2024 | 18.30% |
| Apr 26, 2024 | 34.63% |
| Jan 26, 2024 | 22.79% |
| Oct 27, 2023 | 19.46% |
| Jul 28, 2023 | 12.43% |
| Apr 28, 2023 | 19.54% |
| Jan 27, 2023 | 11.27% |
| Oct 28, 2022 | 16.96% |
| Jul 29, 2022 | 16.02% |
| Apr 29, 2022 | 17.44% |
| Jan 28, 2022 | 19.89% |
| Oct 29, 2021 | 38.03% |
| Jul 30, 2021 | 17.08% |