NetApp (NTAP) Operating Margin (2009 - 2026)
NetApp (NTAP) recorded quarterly Operating Margin of 63.17% in Q2 2026, down 349.35% quarter-over-quarter from 25.34% in Q1 2026, and up 234.0% year-on-year from 18.91% in Q2 2025.
NetApp (NTAP) Operating Margin (2009 - 2026) Analysis & Trends
NetApp has disclosed Operating Margin across 18 years of filings, most recently posting 63.17% for Q2 2026.
- For the quarter ending Q2 2026, Operating Margin rose 234.0% year-over-year to 63.17%; the trailing twelve-month figure through Apr 2026 stood at 5.55% (up 64.0% YoY), and the FY2026 full-year result was 5.55%, up 64.0% from the prior year.
- Operating Margin was 63.17% for Q2 2026 at NetApp, down from 25.34% in the prior quarter.
- Over five years, Operating Margin peaked at 34.63% in Q2 2024 and troughed at 65.51% in Q2 2025.
- The 5-year median for Operating Margin is 18.88% (2023), against an average of 4.78%.
- The sharpest annual moves came in 2024 and 2025: Operating Margin soared 6530 bps in 2024, then sank 10014 bps in 2025.
- Year by year, Operating Margin stood at 16.96% in 2022, then gained by 15 bps to 19.46% in 2023, then gained by 7 bps to 20.81% in 2024, then rose by 12 bps to 23.4% in 2025, then tumbled by 370 bps to 63.17% in 2026.
- Per Business Quant data, the three most recent Operating Margin figures were 63.17% 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 | 2,998.30 Bn | 2,920.03 Bn | 56.06 Bn | 46.33% |
| 2 | Alarum Technologies | 1,040.72 Bn | 1,026.57 Bn | 7.23 Mn | 6.91% |
| 3 | Oracle | 590.32 Bn | 551.74 Bn | 15.14 Bn | 31.79% |
| 4 | Palantir Technologies | 316.31 Bn | 308.39 Bn | 1.42 Bn | 46.18% |
| 5 | Palo Alto Networks | 181.17 Bn | 176.63 Bn | 1.91 Bn | 15.30% |
| 6 | CrowdStrike Holdings | 161.69 Bn | 158.63 Bn | 993.68 Mn | 1.06% |
| 7 | Fortinet | 102.35 Bn | 99.06 Bn | 1.49 Bn | 31.36% |
| 8 | Synopsys | 88.25 Bn | 88.13 Bn | 1.77 Bn | 8.43% |
| 9 | Cloudflare | 83.26 Bn | 82.32 Bn | 455.60 Mn | -9.69% |
| 10 | NetApp | 32.80 Bn | 29.21 Bn | 1.37 Bn | -63.17% |
Historic Data
Download Data| Date | Value |
|---|---|
| Apr 24, 2026 | -63.17% |
| Jan 23, 2026 | 25.34% |
| Oct 24, 2025 | 23.40% |
| Jul 25, 2025 | 19.82% |
| Apr 25, 2025 | -65.51% |
| 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 | -30.68% |
| Jan 27, 2023 | 11.27% |
| Oct 28, 2022 | 16.96% |
| Jul 29, 2022 | 16.02% |
| Apr 29, 2022 | -37.74% |
| Jan 28, 2022 | 19.89% |
| Oct 29, 2021 | 38.03% |
| Jul 30, 2021 | 17.08% |