NTAP
Netapp, Inc. Information Technology Computer Storage Devices S&P 500Russell 3000
$199.18Close
$39.0BMarket cap
$93.35 – $239.1852-week range
Dec 1, 2026Next report · after the close
Highlights
Strengths
- Leading the market RS 94 · stronger than 94% of stocks over 12 months
- Volume drying up last 10 days 27% under the 50-day average
- Earnings growing EPS +63% year on year, faster than the quarter before (+40 pts)
Cautions
- Trend not confirmed 7 of 8 conditions · under the 50-day
Price
Filing Results Screen pick 52-week high and low Adjusted prices
Key figures
Off 12-month high
17%
1wk
down 7.6%
price change
1mo
down 5.0%
price change
12-month return
up 75%
market up 11% ·
its own up 66%
F-score
7 / 9
Strong
Altman Z
3.87
Low risk
P/E
30.6×
price / earnings
PEG
2.58
P/E / EPS growth
P/B
28.9×
price / book
Earnings yield
up 4.2%
EBIT / enterprise value
Cheaper than
42%
of the market · around average
Revenue growth
up 5%
year on year
EPS growth
up 63%
latest quarter · +40 pts
Sales growth
up 30%
latest quarter · +17 pts
ROE
up 107%
return on equity
Free cash margin
up 27%
$1.9B FCF
D/E
1.84
long-term debt / equity
Net debt / EBITDA
0.2×
Interest cover
—EBIT / interest
Piotroski tests
- profitability slipped from last year
- assets working less efficiently
- profitable on its assets
- generating cash from operations
- profits backed by cash
- reduced long-term debt
- short-term liquidity improved
- no new shares issued
- gross margin widened
Trade setup
ATR%
5.0%
$9.95 a day · 2×ATR $179.28
RS
94 / 99
vs the universe
Trend
7 / 8
under the 50-day
Relative volume
1.1×
vs 50-day average
Up/down volume
1.41
50 sessions
Implied move
18.9%
by Dec 18, 2026 · report Dec 1, 2026
Trend template · 7 of 8
- Price above the 50-day average: fails
Screen verdict
Did not qualify for any screen.
Warning signs
- No restatement or impairment
- Equity positive
- Interest covered
- No material dilution
- Profits tracking cash
- Margins and revenue not shrinking
Last reported
Sep 2, 2026
Results reaction
Sep 2, 20260% vs market2 sessions after results
Options
$2.0M61.3% IV · activity
Financials
- Gross 71%
- Net 18%
- Free cash 27%
- Cash
- Long-term debt
| FY2021Apr 30, 2021 | FY2022Apr 29, 2022 | FY2023Apr 28, 2023 | FY2024Apr 26, 2024 | FY2025Apr 25, 2025 | FY2026Apr 24, 2026 | |
|---|---|---|---|---|---|---|
| Revenue | $5.7B | $6.3B | $6.4B | $6.3B | $6.6B | $6.9B |
| Gross margin | 66% | 67% | 66% | 71% | 70% | 71% |
| Operating income | $1.0B | $1.2B | $1.0B | $1.2B | $1.3B | $1.7B |
| Net income | $730.0M | $937.0M | $1.3B | $986.0M | $1.2B | $1.3B |
| Net margin | 13% | 15% | 20% | 16% | 18% | 18% |
| Earnings per share | $3.23 | $4.09 | $5.79 | $4.63 | $5.67 | $6.35 |
| Free cash flow | $1.2B | $985.0M | $868.0M | $1.5B | $1.3B | $1.9B |
| Free cash margin | 20% | 16% | 14% | 24% | 20% | 27% |
| Cash | $4.5B | $4.1B | $2.3B | $1.9B | $2.7B | $2.1B |
| Long-term debt | $2.6B | $2.4B | $2.4B | $2.0B | $2.5B | $2.5B |
| Shareholders' equity | $685.0M | $838.0M | $1.2B | $1.1B | $1.0B | $1.4B |
| Shares outstanding | 222m | 220m | 212m | 206m | 201m | 196m |
Next report
Dec 1, 2026 · after the close
Expected move The move, either way, the option market prices in through the next scheduled report: the at-the-money straddle for the first expiry that contains it, over the price. It includes the days around the report, so it slightly overstates the report alone. Methodology
±18.9%
$161 – $237 by Dec 18, 2026
Usual move The median, over the company's last four reports, of how far the stock moved either way from the close before the filing to the close of the session after it. Methodology
±2.0%
last 4: +1.2% · +22.1% · -2.8% · +0.3%
Expected against usual The move the options price through this report over the move the last four reports delivered. Above 1 the event is priced bigger than the company's own record; below 1, smaller. A price, not a forecast: it says what protection through the report costs, not which way the stock will go. Methodology
Bigger than usual
9.4× the usual move
What options price now
- Expected 1-month range The at-the-money straddle for the expiry nearest a month out, as a share of the price: the move, either way, the option market is pricing by then. The range is the price plus and minus that move; the stock ends inside it a little more often than not. Methodology
- $177 – $221 ±11.1% by Nov 20, 2026
- Swings expected vs recent The daily swings the options are priced for (implied volatility) against the swings the stock actually had over the last 20 sessions (realised volatility). Bigger means options charge for more movement than the stock has been delivering; smaller, less. On a contract row, that contract's own implied volatility over the stock's realised. Methodology
- About the same 61.3% priced · 56.9% recent
- Next month vs later At-the-money implied volatility for 8-45 day expiries over 46-90 day ones: whether options price the coming month as choppier or calmer than the two after it. Ahead of a report it usually reads choppier, and the extra comes out once the report is out. Methodology
- Calmer
- Crash protection What options that pay off in a fall cost against options that pay off in a rise (the 25-delta skew), compared with this company's own normal - the median of its stored nightly readings, once there are 20 - and with five sessions ago. Protection costs a little more than upside on most shares. More than usual means readers of the chain are paying up to insure against a drop; it does not say which way the stock will go. Methodology
- past week: costs less
Positioning
- Premium traded
- $2.0M calls $1.4M · puts $601,550 · latest session
- 0.44× +0.30 over the week
- Open interest added The change over five sessions in option positions left open overnight, calls and puts. A rise means positions were added. It cannot say whether they were bought or sold, so more calls is not a vote for a rise: a call is as often sold against shares already held. Methodology
- calls +21 · puts +1.15k past week
For options traders: ATM IV 61.3% (+6.1% 1w) · 1m ÷ 3m IV 0.95 · 25Δ skew 2.6 pts · Net GEX $1.3M
Most traded contracts
No contract passed the liquidity filters this week.
Filings
| Filed | Report | Period to | Lag |
|---|---|---|---|
| Sep 2, 2026 | Quarterly ↗ | Jul 31, 2026 | 33d |
| Jun 5, 2026 | Annual ↗ | Apr 24, 2026 | 42d |
| Feb 26, 2026 | Quarterly ↗ | Jan 23, 2026 | 34d |
| Nov 25, 2025 | Quarterly ↗ | Oct 24, 2025 | 32d |
| Aug 27, 2025 | Quarterly ↗ | Jul 25, 2025 | 33d |
| Jun 9, 2025 | Annual ↗ | Apr 25, 2025 | 45d |
| Feb 27, 2025 | Quarterly ↗ | Jan 24, 2025 | 34d |
| Nov 25, 2024 | Quarterly ↗ | Oct 25, 2024 | 31d |
| Aug 28, 2024 | Quarterly ↗ | Jul 26, 2024 | 33d |
| Jun 10, 2024 | Annual ↗ | Apr 26, 2024 | 45d |
| Feb 29, 2024 | Quarterly ↗ | Jan 26, 2024 | 34d |
| Nov 30, 2023 | Quarterly ↗ | Oct 27, 2023 | 34d |
Current reports
| Filed | Disclosed |
|---|---|
| Sep 11, 2026 | Holder rights changed · Charter or bylaws · Shareholder vote ↗ |
| Sep 2, 2026 | Results ↗ |
| May 28, 2026 | Results · Other events ↗ |
| Feb 26, 2026 | Results ↗ |
| Jan 12, 2026 | Director or officer change · Regulation FD ↗ |
| Nov 25, 2025 | Results ↗ |
| Sep 15, 2025 | Director or officer change · Shareholder vote ↗ |
| Aug 27, 2025 | Results ↗ |
| May 29, 2025 | Results · Director or officer change · Other events ↗ |
| Mar 26, 2025 | Director or officer change · Regulation FD ↗ |
| Mar 17, 2025 | Material agreement · New obligation · Other events ↗ |
| Mar 5, 2025 | Material agreement · New obligation ↗ |