NetApp, Inc.

NTAPNASDAQTechnology● Active

$167.04

$-11.83(-6.61%)

Market Cap$33.1B

P/E Ratio—

52W High$192.83

52W Low$93.69

Avg Volume2.8M

Open$177.02

Beta1.43

Free Cash Flow Financials Revenue

NetApp, Inc. (NTAP) Free Cash Flow & Analysis

Annual & trailing free cash flow, FCF margin, YoY change, valuation ratios, and peer context.

NTAP · free cash flow · updated Jun 8, 2026

Core FCF metrics

NTAP · FCF · TTM · margin & CAGR

Free cash flow was $1.87B for FY2026 (fiscal year ending 2026-04-24), up 39.7% year-over-year The FCF margin was 27.0%. Five-year CAGR stands at +9.8%.

FY2026 Free Cash Flow$1.87B▲ +39.7% YoY

Trailing 12M (TTM)$1.87Btrailing 4 quarters sum

FCF Margin27.0%$1.87B ÷ revenue

3-Year CAGR+29.1%FY2023 → FY2026

5-Year CAGR+9.8%FY2021 → FY2026

FormulaFCF = Operating Cash Flow − Capital ExpendituresTTM = trailing 4 quarters sumCAGR → N/A if either endpoint ≤ 0

Source: FMP /cash-flow-statement · SEC 10-K / 10-Q · USDUpdated: Jun 8, 2026

Annual free cash flow history

FCF ($B, upper) · YoY Growth % (lower)

Positive FCFNegative FCF

Free Cash Flow

YoY Growth %

Annual free cash flow data

NTAP · free cash flow history · annual / quarterly

Fiscal YearOperating CFCapExFree Cash FlowYoY ChangeFCF Margin

FY2026Latest$2.07B(198M)$1.87B▲ +39.7%27.0%

FY2025$1.51B(168M)$1.34B▼ 12.5%20.4%

FY2024$1.69B(155M)$1.53B▲ +76.3%24.4%

FY2023$1.11B(239M)$868.0M▼ 11.9%13.6%

FY2022$1.21B(226M)$985.0M▼ 15.9%15.6%

FCF = Operating Cash Flow − Capital Expenditures · CapEx shown as (negative) · Source: SEC filings via FMP

FCF valuation metrics

NTAP · P/FCF · FCF yield · FCF per share

NetApp, Inc. (NTAP) trades at a FCF yield of 5.65% and a price-to-free-cash-flow ratio of 17.6x. FCF per share stands at $9.49, calculated using trailing twelve-month FCF divided by basic weighted-average shares outstanding.

FCF Yield (TTM)

5.65%

Free Cash Flow ÷ Market Cap

per FMP freeCashFlowYieldTTM definition

FCF per Share (TTM)

$9.49

TTM FCF ÷ Shares Outstanding

Price / FCF

x17.6

Share Price ÷ FCF per Share

EV / FCF (TTM)

x17.1

Enterprise Value basis

Source: FMP /key-metrics-ttm · /cash-flow-statement Q · /income-statementFY2026 · 2026-04-24

Cash flow statement summary

NTAP · cash flow statement · operating / investing / financing

For FY2026, NetApp, Inc. generated $2.07B in operating cash flow and spent 198M in capital expenditures, yielding $1.87B in free cash flow.

Operating Activities

+$2.07B

Cash from core business operations

2026-04-24

Investing Activities

−$595.0M

CapEx, acquisitions & investments

2026-04-24

Financing Activities

−$2.15B

Buybacks, dividends & debt

2026-04-24

FCF FormulaOperating CF ($2.07B) − |CapEx| (198M) = FCF ($1.87B)

For the complete Operating / Investing / Financing line-item breakdown:

View Full Cash Flow Statement →

Free cash flow vs peers (Technology)

NTAP vs peers · FCF

#CompanyFree Cash FlowYoYFCF MarginRelative

NetApp, Inc.YOU

NTAP

$1.87B+39.7%27.0%

Taiwan Semiconductor Manufacturing Company Limited

Microsoft Corporation

Technology · Sorted by FCF · FMP /cash-flow-statementFull FCF Rankings →

About Free Cash Flow & Methodology

NetApp, Inc. (NTAP) reported free cash flow of $1.87B for FY2026 (fiscal year ending 2026-04-24), up 39.7% year-over-year. The FCF margin was 27.0%.

Based on available data, NetApp, Inc. has maintained positive free cash flow for at least 15 fiscal year(s). FCF peaked at $1.87B in FY2026. The 5-year CAGR stands at +9.8%.

NetApp, Inc.'s FCF yield is 5.65% and price-to-FCF ratio is 17.6x for FY2026, based on the latest available data.

Data sourced from FMP /cash-flow-statement · SEC 10-K / 10-Q · USD.

Q&A and summaries align with SEC 10-K/10-Q cash flow disclosures and FMP /cash-flow-statement where noted.

Revenue Financial statements Net income Earnings Forecast Price history Market cap Cash on hand P/E ratio

Frequently asked questions

NTAP free cash flow · 8 questions

NetApp, Inc. free cash flow was $1.87B for FY2026, up 39.7% year-over-year. On a trailing twelve-month (TTM) basis, free cash flow stands at $1.87B.

NTAP free cash flowNTAP FCFNTAP FCF 2026NTAP free cash flow TTM

▸ Source: FMP /cash-flow-statement · US GAAP · NetApp, Inc. · NetApp, Inc. SEC 10-K & 10-Q filings · US GAAP · Last updated: Jun 8, 2026