In Q1 of fiscal 2026, the quarter ended Jul 31, 2026, NetApp, Inc. reported revenue of $2.0 billion, up 29.9% from the same quarter a year earlier. Net income was $375.0 million, a profit margin of 18.5%. Operating income came to $484.0 million, an operating margin of 23.9%. Diluted earnings per share were $1.88.
USD in millions, except per-share amounts and margins. The percent under a figure is the change from the same quarter a year earlier.
| Line |
TTM
Jul 31, 2026
|
Q1 FY2026
Jul 31, 2026
|
Q4 FY2026
Apr 24, 2026
|
Q3 FY2026
Jan 23, 2026
|
Q1 FY2025
Jul 25, 2025
|
Q4 FY2025
Apr 25, 2025
|
Q3 FY2025
Jan 24, 2025
|
Q2 FY2025
Oct 25, 2024
|
Q4 FY2024
Apr 26, 2024
|
|---|---|---|---|---|---|---|---|---|---|
| Revenue |
7,038
+10.1%
|
2,025
+29.9%
|
1,948
+12.5%
|
1,713
+4.4%
|
1,559
+8.9%
|
1,732
+3.8%
|
1,641
+2.2%
|
1,658
+6.1%
|
1,668
+5.5%
|
| Cost of revenue |
2,104
+13.1%
|
606
+31.5%
|
583
+8.2%
|
504
+1.6%
|
461
+5.7%
|
539
+9.6%
|
496
+9.0%
|
481
+6.4%
|
492
-2.8%
|
| Gross profit |
4,934
+8.8%
|
1,419
+29.2%
|
1,365
+14.4%
|
1,209
+5.6%
|
1,098
+10.2%
|
1,193
+1.4%
|
1,145
-0.5%
|
1,177
+6.0%
|
1,176
+9.4%
|
| Research and development |
1,044
+2.0%
|
274
+13.2%
|
261
+2.0%
|
237
-4.0%
|
242
-2.0%
|
256
-5.5%
|
247
-0.8%
|
257
-1.9%
|
271
+11.5%
|
| Selling, general and administrative |
2,236
+4.5%
|
605
+11.0%
|
573
+5.5%
|
541
+3.0%
|
545
+0.6%
|
543
+0.9%
|
525
+1.0%
|
562
+4.9%
|
538
+5.7%
|
| Restructuring and impairment |
137
+585.0%
|
56
+2700.0%
|
-1
-102.2%
|
-3
-133.3%
|
2
-92.3%
|
45
|
9
-30.8%
|
12
+140.0%
|
0
-100.0%
|
| Operating expenses |
—
|
935
+18.5%
|
833
-1.4%
|
775
|
789
|
845
+4.3%
|
—
|
832
|
810
|
| Operating income |
1,512
+12.4%
|
484
+56.6%
|
532
+52.9%
|
434
+19.9%
|
309
+73.6%
|
348
-4.9%
|
362
-1.1%
|
345
+13.5%
|
366
+18.4%
|
| Other income (expense) |
51
+41.7%
|
0
+100.0%
|
-14
-333.3%
|
-1
-112.5%
|
-5
-162.5%
|
6
-57.1%
|
8
-50.0%
|
15
+36.4%
|
14
+180.0%
|
| Pretax income |
1,563
+13.2%
|
484
+59.2%
|
518
+46.3%
|
433
+17.0%
|
304
+63.4%
|
354
-6.8%
|
370
-3.1%
|
360
+14.3%
|
380
+21.0%
|
| Income tax |
235
-24.4%
|
109
+53.5%
|
114
+714.3%
|
99
+39.4%
|
71
+91.9%
|
14
-84.3%
|
71
+2.9%
|
61
-25.6%
|
89
+29.0%
|
| Net income |
1,328
+24.1%
|
375
+60.9%
|
404
+18.8%
|
334
+11.7%
|
233
+56.4%
|
340
+16.8%
|
299
-4.5%
|
299
+28.3%
|
291
+18.8%
|
| Basic EPS |
6.55
+25.7%
|
1.91
+64.7%
|
2.03
+20.0%
|
1.69
+15.0%
|
1.16
+65.7%
|
1.69
+19.2%
|
1.47
-3.3%
|
1.47
+31.2%
|
1.42
+24.0%
|
| Diluted EPS |
6.38
+25.1%
|
1.88
+63.5%
|
2.04
+23.6%
|
1.67
+16.0%
|
1.15
+66.7%
|
1.65
+20.8%
|
1.44
-2.7%
|
1.42
+29.1%
|
1.37
+21.0%
|
| Weighted average shares, basic |
203
-1.3%
|
196
-2.5%
|
199
-1.0%
|
198
-2.9%
|
201
-5.2%
|
201
-2.0%
|
204
-1.0%
|
204
-1.9%
|
205
-4.2%
|
| Weighted average shares, diluted |
208
-0.8%
|
200
-1.5%
|
198
-3.9%
|
200
-3.8%
|
203
-6.0%
|
206
-3.3%
|
208
-1.4%
|
210
-0.5%
|
213
-1.8%
|
| Other measures | |||||||||
| Depreciation and amortization |
225
-7.0%
|
33
-35.3%
|
49
-7.5%
|
151
+135.9%
|
51
-20.3%
|
53
-17.2%
|
64
+1.6%
|
75
+17.2%
|
64
-3.0%
|
| EBITDA |
1,737
+9.5%
|
517
+43.6%
|
581
+44.9%
|
585
+37.3%
|
360
+48.8%
|
401
-6.7%
|
426
-0.7%
|
420
+14.1%
|
430
+14.7%
|
| Interest coverage |
—
|
—
|
19.00x
|
16.69x
|
19.31x
|
16.57x
|
30.17x
|
23.00x
|
—
|
| Margins | |||||||||
| Gross margin |
70.11%
|
70.07%
|
70.07%
|
70.58%
|
70.43%
|
68.88%
|
69.77%
|
70.99%
|
70.50%
|
| Operating margin |
21.48%
|
23.90%
|
27.31%
|
25.34%
|
19.82%
|
20.09%
|
22.06%
|
20.81%
|
21.94%
|
| Pretax margin |
22.21%
|
23.90%
|
26.59%
|
25.28%
|
19.50%
|
20.44%
|
22.55%
|
21.71%
|
22.78%
|
| Profit margin |
18.87%
|
18.52%
|
20.74%
|
19.50%
|
14.95%
|
19.63%
|
18.22%
|
18.03%
|
17.45%
|
| EBITDA margin |
24.68%
|
25.53%
|
29.83%
|
34.15%
|
23.09%
|
23.15%
|
25.96%
|
25.33%
|
25.78%
|
| Effective tax rate |
15.04%
|
22.52%
|
22.01%
|
22.86%
|
23.36%
|
3.95%
|
19.19%
|
16.94%
|
23.42%
|
How these figures are calculated
Quarterly columns are single-quarter amounts. When a 10-Q reports only a year-to-date total, as cash flow statements do, the quarter is that total minus the previous quarter's year-to-date total. The fourth quarter is the annual report's full year minus the first nine months. A column marked YTD is a year-to-date total, shown when the earlier report needed for the single quarter is missing. USD in millions, except per-share amounts and margins. Weighted average shares are in millions. Interest expense and finance costs are positive costs. A negative amount on a gain (loss) or income (expense) line is a loss or an expense. EBITDA is operating income plus depreciation and amortization. Interest coverage is operating income divided by interest expense. The first column is the trailing twelve months through the latest quarter. More on our methodology.
New to this? Read How to Read an Income Statement, With a Real Example.
Company profile
- Industry
- Computer Storage Devices (SIC 3572)
- Listed as
- NTAP (Nasdaq)
- Fiscal year ends
- April 24
- Incorporated in
- CA
- Headquarters
- San Jose, CA
- SEC filer status
- Large accelerated filer
- SEC CIK
- 1002047
- Former names
- NETWORK APPLIANCE INC (until May 12, 2008)
Other Computer Storage Devices companies
- Sandisk Corp SNDK
- Seagate Technology Holdings plc STX
- Western Digital Corp WDC
- Everpure, Inc. P
- Quantum Corp /DE/ QMCO
Source: SEC EDGAR filings. This is company-reported data, not investment advice.