Loading...

NetApp

DB:NTA
Snowflake Description

Proven track record with adequate balance sheet.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
NTA
DB
$19B
Market Cap
  1. Home
  2. DE
  3. Tech
Company description

NetApp, Inc. provides software, systems, and services to manage and share data on-premises, and private and public clouds worldwide. The last earnings update was 58 days ago. More info.


Add to Portfolio Compare Print
NTA Share Price and Events
7 Day Returns
3.7%
DB:NTA
1.9%
DE Tech
2.5%
DE Market
1 Year Returns
24.1%
DB:NTA
-1.1%
DE Tech
-6.7%
DE Market
NTA Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
NetApp (NTA) 3.7% 16.7% 24.7% 24.1% 222.7% 163.8%
DE Tech 1.9% 4.3% 16.8% -1.1% 69.2% 105%
DE Market 2.5% 3.3% 9.2% -6.7% 9% 13.5%
1 Year Return vs Industry and Market
  • NTA outperformed the Tech industry which returned -1.1% over the past year.
  • NTA outperformed the Market in Germany which returned -6.7% over the past year.
Price Volatility
NTA
Industry
5yr Volatility vs Market

NTA Value

 Is NetApp undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of NetApp to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for NetApp.

DB:NTA Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 27 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 6.7%
Perpetual Growth Rate 10-Year DE Government Bond Rate 0.2%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for DB:NTA
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate 0.2%
Equity Risk Premium S&P Global 6%
Tech Unlevered Beta Simply Wall St/ S&P Global 1.04
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.043 (1 + (1- 21%) (8.89%))
1.078
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.08
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.23% + (1.078 * 5.96%)
6.65%

Discounted Cash Flow Calculation for DB:NTA using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for NetApp is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

DB:NTA DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 6.65%)
2019 1,230.14 Analyst x12 1,153.41
2020 1,311.11 Analyst x13 1,152.64
2021 1,493.36 Analyst x9 1,230.96
2022 1,269.00 Analyst x1 980.77
2023 1,286.00 Analyst x1 931.91
2024 1,266.73 Est @ -1.5% 860.69
2025 1,254.31 Est @ -0.98% 799.08
2026 1,246.56 Est @ -0.62% 744.61
2027 1,242.02 Est @ -0.36% 695.62
2028 1,239.71 Est @ -0.19% 651.01
Present value of next 10 years cash flows $9,200.69
DB:NTA DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= $1,239.71 × (1 + 0.23%) ÷ (6.65% – 0.23%)
$19,338.86
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $19,338.86 ÷ (1 + 6.65%)10
$10,155.42
DB:NTA Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $9,200.69 + $10,155.42
$19,356.11
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $19,356.11 / 246.97
$78.37
DB:NTA Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:NTA represents 0.89031x of NasdaqGS:NTAP
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.89031x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (USD) x Listing Adjustment Factor
= $ 78.37 x 0.89031
€69.78
Value per share (EUR) From above. €69.78
Current discount Discount to share price of €69.15
= -1 x (€69.15 - €69.78) / €69.78
0.9%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price NetApp is available for.
Intrinsic value
1%
Share price is €69.15 vs Future cash flow value of €69.78
Current Discount Checks
For NetApp to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • NetApp's share price is below the future cash flow value, but not at a moderate discount (< 20%).
  • NetApp's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for NetApp's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are NetApp's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:NTA PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-01-25) in USD $3.95
NasdaqGS:NTAP Share Price ** NasdaqGS (2019-04-18) in USD $77.67
Europe Tech Industry PE Ratio Median Figure of 22 Publicly-Listed Tech Companies 13.11x
Germany Market PE Ratio Median Figure of 421 Publicly-Listed Companies 19.69x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of NetApp.

DB:NTA PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NasdaqGS:NTAP Share Price ÷ EPS (both in USD)

= 77.67 ÷ 3.95

19.66x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • NetApp is overvalued based on earnings compared to the Europe Tech industry average.
  • NetApp is good value based on earnings compared to the Germany market.
Price based on expected Growth
Does NetApp's expected growth come at a high price?
Raw Data
DB:NTA PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 19.66x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 27 Analysts
5.7%per year
Europe Tech Industry PEG Ratio Median Figure of 12 Publicly-Listed Tech Companies 0.9x
Germany Market PEG Ratio Median Figure of 270 Publicly-Listed Companies 1.58x

*Line of best fit is calculated by linear regression .

DB:NTA PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 19.66x ÷ 5.7%

3.48x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • NetApp is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on NetApp's assets?
Raw Data
DB:NTA PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-01-25) in USD $4.98
NasdaqGS:NTAP Share Price * NasdaqGS (2019-04-18) in USD $77.67
Europe Tech Industry PB Ratio Median Figure of 30 Publicly-Listed Tech Companies 1.3x
Germany Market PB Ratio Median Figure of 570 Publicly-Listed Companies 1.87x
DB:NTA PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NasdaqGS:NTAP Share Price ÷ Book Value per Share (both in USD)

= 77.67 ÷ 4.98

15.6x

* Primary Listing of NetApp.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • NetApp is overvalued based on assets compared to the Europe Tech industry average.
X
Value checks
We assess NetApp's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Tech industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Tech industry average (and greater than 0)? (1 check)
  5. NetApp has a total score of 1/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

NTA Future Performance

 How is NetApp expected to perform in the next 1 to 3 years based on estimates from 27 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
5.7%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is NetApp expected to grow at an attractive rate?
  • NetApp's earnings growth is expected to exceed the low risk savings rate of 0.2%.
Growth vs Market Checks
  • NetApp's earnings growth is positive but not above the Germany market average.
  • NetApp's revenue growth is positive but not above the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:NTA Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:NTA Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 27 Analysts 5.7%
DB:NTA Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 27 Analysts 3.2%
Europe Tech Industry Earnings Growth Rate Market Cap Weighted Average 14.5%
Europe Tech Industry Revenue Growth Rate Market Cap Weighted Average 8.1%
Germany Market Earnings Growth Rate Market Cap Weighted Average 11.7%
Germany Market Revenue Growth Rate Market Cap Weighted Average 4.8%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
DB:NTA Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 27 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:NTA Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-04-30 6,618 1
2022-04-30 6,841 2
2021-04-30 6,684 1,667 1,176 15
2020-04-30 6,418 1,507 1,056 27
2019-04-30 6,200 1,431 1,040 26
DB:NTA Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-01-25 6,190 1,436 1,023
2018-10-26 6,166 1,405 295
2018-07-27 6,064 1,554 228
2018-04-27 5,911 1,478 76
2018-01-26 5,756 1,349 16
2017-10-27 5,621 1,164 641
2017-07-28 5,546 1,008 576
2017-04-28 5,519 986 509
2017-01-27 5,418 966 311
2016-10-28 5,400 1,086 318
2016-07-29 5,505 1,073 323
2016-04-29 5,546 974 229
2016-01-29 5,706 1,025 372

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • NetApp's earnings are expected to grow by 5.7% yearly, however this is not considered high growth (20% yearly).
  • NetApp's revenue is expected to grow by 3.2% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
DB:NTA Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 27 Analyst Estimates (S&P Global) See Below

All data from NetApp Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:NTA Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-04-30
2022-04-30
2021-04-30 4.89 5.31 4.53 6.00
2020-04-30 4.27 4.67 3.90 12.00
2019-04-30 3.95 4.11 3.48 12.00
DB:NTA Past Financials Data
Date (Data in USD Millions) EPS *
2019-01-25 3.95
2018-10-26 1.12
2018-07-27 0.86
2018-04-27 0.28
2018-01-26 0.06
2017-10-27 2.37
2017-07-28 2.11
2017-04-28 1.85
2017-01-27 1.11
2016-10-28 1.12
2016-07-29 1.12
2016-04-29 0.78
2016-01-29 1.24

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • NetApp is expected to make outstanding use of shareholders’ funds in the future (Return on Equity greater than 40%).
X
Future performance checks
We assess NetApp's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Europe market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Europe market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
NetApp has a total score of 2/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

NTA Past Performance

  How has NetApp performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare NetApp's growth in the last year to its industry (Tech).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • NetApp's year on year earnings growth rate was negative over the past 5 years, however the most recent earnings are above average.
  • NetApp's 1-year earnings growth exceeds its 5-year average (4373.5% vs -10%)
  • NetApp's earnings growth has exceeded the Europe Tech industry average in the past year (4373.5% vs 12.3%).
Earnings and Revenue History
NetApp's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from NetApp Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:NTA Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-01-25 6,190.00 1,023.00 1,964.00 825.00
2018-10-26 6,166.00 295.00 1,987.00 815.00
2018-07-27 6,064.00 228.00 2,000.00 798.00
2018-04-27 5,911.00 76.00 2,009.00 783.00
2018-01-26 5,756.00 16.00 1,947.00 771.00
2017-10-27 5,621.00 641.00 1,901.00 759.00
2017-07-28 5,546.00 576.00 1,898.00 765.00
2017-04-28 5,519.00 509.00 1,904.00 779.00
2017-01-27 5,418.00 311.00 1,947.00 789.00
2016-10-28 5,400.00 318.00 1,990.00 808.00
2016-07-29 5,505.00 323.00 2,025.00 824.00
2016-04-29 5,546.00 229.00 2,099.00 861.00
2016-01-29 5,706.00 372.00 2,122.00 893.00
2015-10-30 5,871.00 396.00 2,179.00 923.00
2015-07-31 5,969.00 442.00 2,218.00 936.00
2015-04-24 6,123.00 560.00 2,197.00 920.00
2015-01-23 6,232.00 622.00 2,204.70 917.70
2014-10-24 6,291.00 637.10 2,205.00 918.00
2014-07-25 6,297.90 643.90 2,193.00 917.20
2014-04-25 6,325.00 638.00 2,179.00 918.00
2014-01-24 6,392.60 614.30 2,214.90 930.00
2013-10-25 6,412.70 580.30 2,229.30 915.30
2013-07-26 6,404.00 523.10 2,235.10 910.90
2013-04-26 6,332.40 505.30 2,247.40 904.20
2013-01-25 6,318.40 512.20 2,212.60 882.40
2012-10-26 6,253.80 473.70 2,193.10 875.10
2012-07-27 6,219.60 529.70 2,157.50 851.00
2012-04-27 6,233.20 605.40 2,128.90 828.20

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Whilst NetApp made outstanding use of shareholders’ funds last year (Return on Equity greater than 40%), this is metric is skewed due to its high level of debt.
  • NetApp used its assets more efficiently than the Europe Tech industry average last year based on Return on Assets.
  • NetApp has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess NetApp's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Tech industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
NetApp has a total score of 4/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

NTA Health

 How is NetApp's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up NetApp's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • NetApp is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • NetApp's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of NetApp's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • Debt is covered by short term assets, assets are 3.1x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from NetApp Company Filings, last reported 2 months ago.

DB:NTA Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-01-25 1,230.00 1,706.00 4,054.00
2018-10-26 1,530.00 1,792.00 4,305.00
2018-07-27 1,922.00 1,742.00 4,817.00
2018-04-27 2,067.00 1,926.00 5,397.00
2018-01-26 2,176.00 2,172.00 5,626.00
2017-10-27 2,777.00 3,138.00 5,972.00
2017-07-28 2,768.00 2,518.00 5,327.00
2017-04-28 2,780.00 2,123.00 4,928.00
2017-01-27 2,694.00 2,014.00 4,646.00
2016-10-28 2,789.00 1,492.00 4,363.00
2016-07-29 2,792.00 1,491.00 4,427.00
2016-04-29 2,881.00 2,358.00 5,308.00
2016-01-29 3,109.00 1,490.00 5,023.00
2015-10-30 2,987.00 1,489.00 4,821.00
2015-07-31 3,000.00 1,488.00 4,950.00
2015-04-24 3,414.00 1,487.00 5,329.00
2015-01-23 3,508.00 1,494.70 5,252.50
2014-10-24 3,461.30 1,494.40 5,269.40
2014-07-25 3,836.70 1,494.10 5,564.20
2014-04-25 3,786.50 990.10 5,003.30
2014-01-24 3,915.90 995.20 5,069.30
2013-10-25 4,120.40 995.00 5,272.70
2013-07-26 4,018.00 994.80 5,084.00
2013-04-26 4,717.50 2,252.40 6,952.60
2013-01-25 4,625.00 2,237.60 6,723.90
2012-10-26 4,402.20 1,229.40 5,571.00
2012-07-27 4,375.70 1,215.80 5,441.10
2012-04-27 4,293.60 1,264.90 5,398.50
  • NetApp's level of debt (138.7%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (25.4% vs 138.7% today).
  • Debt is well covered by operating cash flow (84.2%, greater than 20% of total debt).
  • NetApp earns more interest than it pays, coverage of interest payments is not a concern.
X
Financial health checks
We assess NetApp's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. NetApp has a total score of 4/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

NTA Dividends

 What is NetApp's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
2.06%
Current annual income from NetApp dividends. Estimated to be 2.35% next year.
If you bought €2,000 of NetApp shares you are expected to receive €41 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • NetApp's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.44%).
  • NetApp's dividend is below the markets top 25% of dividend payers in Germany (3.74%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
DB:NTA Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 27 Analyst Estimates (S&P Global) See Below
Europe Tech Industry Average Dividend Yield Market Cap Weighted Average of 12 Stocks 1.5%
Germany Market Average Dividend Yield Market Cap Weighted Average of 324 Stocks 3%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.9%
Germany Bottom 25% Dividend Yield 25th Percentile 1.4%
Germany Top 25% Dividend Yield 75th Percentile 3.7%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

DB:NTA Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2023-04-30
2022-04-30
2021-04-30 2.18 6.00
2020-04-30 1.88 12.00
2019-04-30 1.59 12.00
DB:NTA Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-02-19 1.600 2.344
2019-02-13 1.600 2.469
2018-11-19 1.600 2.534
2018-11-14 1.600 2.244
2018-08-21 1.600 1.962
2018-08-15 1.600 1.964
2018-02-14 0.800 1.143
2017-11-15 0.800 1.378
2017-08-16 0.800 1.892
2017-02-24 0.760 1.860
2016-11-16 0.760 2.052
2016-09-02 0.760 2.218
2016-08-17 0.760 2.219
2016-06-22 0.760 2.943
2016-05-25 0.760 3.047
2015-11-18 0.720 2.857
2015-09-08 0.720 2.241
2015-08-19 0.720 2.342
2015-06-12 0.720 2.285
2015-05-20 0.720 2.160
2014-11-12 0.660 1.716
2014-08-13 0.660 1.594
2014-02-12 0.600 1.622
2013-11-26 0.600 1.443
2013-11-13 0.600 1.471
2013-05-21 0.600 1.487

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Whilst dividend payments have been stable, NetApp has been paying a dividend for less than 10 years.
  • Dividend payments have increased, but NetApp only paid a dividend in the past 6 years.
Current Payout to shareholders
What portion of NetApp's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (2.8x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (2.7x coverage).
X
Income/ dividend checks
We assess NetApp's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.9%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can NetApp afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. NetApp has a total score of 3/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

NTA Management

 What is the CEO of NetApp's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
George Kurian
COMPENSATION $12,859,367
AGE 51
TENURE AS CEO 3.8 years
CEO Bio

Mr. George Kurian has been the Chief Executive Officer of NetApp, Inc. since June 1, 2015 and as its President since May 20, 2016. Mr. Kurian served as an Executive Vice President of Product Operations at NetApp, Inc. since September 20, 2013 until May 2015, overseeing all aspects of technology strategy, product and solutions development across its product portfolio. He served as Senior Vice President of the Data ONTAP Group at NetApp since December 2011. He oversaw the product roadmap and engineering execution of the Data ONTAP Operating System, the world’s most widely deployed storage operating system and the associated On Command Storage Management product portfolio. He served as the Senior Vice President of the Storage Solutions Group at NetApp since April 2011, where he oversaw the NetApp solutions portfolio and joint partner technology integration roadmaps. He joined NetApp in April 2011. Prior to NetApp, from 2002 to 2011, Mr. Kurian held several positions at Cisco Systems, including, Vice President and General Manager of the Application Networking and Switching Technology Group at Cisco Systems. In this role, he was responsible for Cisco products for the Modular Campus LAN Switching and WAN Application Delivery markets. He also led Cisco’s successful development of products and solutions to enable Ethernet-based Converged Networks for Video, Voice and Data. Prior to Cisco, from 1999 to 2002, Mr. Kurian served as the Vice President for Product Management and Strategy at Akamai Technologies. Prior to that, he was a management consultant with McKinsey and Company, and led software engineering and product management teams at Oracle Corporation. Mr. Kurian has been a Director of NetApp, Inc. since June 1, 2015. He holds a Bachelor of Science in Electrical Engineering degree from Princeton University and a Master of Business Administration degree from Stanford University

CEO Compensation
  • George's compensation has increased by more than 20% in the past year.
  • George's remuneration is higher than average for companies of similar size in Germany.
Management Team Tenure

Average tenure and age of the NetApp management team in years:

3
Average Tenure
54
Average Age
  • The tenure for the NetApp management team is about average.
Management Team

George Kurian

TITLE
CEO, President & Director
COMPENSATION
$13M
AGE
51
TENURE
3.8 yrs

Ron Pasek

TITLE
Executive VP
COMPENSATION
$5M
AGE
57
TENURE
3 yrs

Matt Fawcett

TITLE
Senior VP
COMPENSATION
$3M
AGE
50
TENURE
8.6 yrs

Joel Reich

TITLE
Executive VP & General Manager
COMPENSATION
$4M
AGE
59
TENURE
3.8 yrs

Henri Richard

TITLE
Executive Vice President of Worldwide Field & Customer Operations
COMPENSATION
$5M
AGE
61
TENURE
2.9 yrs

Jeff Bergmann

TITLE
Vice President of Corporate Finance
COMPENSATION
$667K
TENURE
3 yrs

Bill Miller

TITLE
Senior VP & Chief Information Officer
TENURE
2.5 yrs

Kris Newton

TITLE
VP of Corporate Communications & Investor Relations
TENURE
1.3 yrs

Jean English

TITLE
Chief Marketing Officer & Senior VP
TENURE
2.7 yrs

Debra McCowan

TITLE
Senior VP & Chief Human Resources Officer
AGE
45
TENURE
0.5 yrs
Board of Directors Tenure

Average tenure and age of the NetApp board of directors in years:

4.7
Average Tenure
59.5
Average Age
  • The tenure for the NetApp board of directors is about average.
Board of Directors

Mike Nevens

TITLE
Chairman of the Board
COMPENSATION
$425K
AGE
68
TENURE
3.8 yrs

George Kurian

TITLE
CEO, President & Director
COMPENSATION
$13M
AGE
51
TENURE
3.8 yrs

Kathy Hill

TITLE
Independent Director
COMPENSATION
$345K
AGE
61
TENURE
5.6 yrs

George Shaheen

TITLE
Independent Director
COMPENSATION
$320K
AGE
74
TENURE
14.8 yrs

Jerry Held

TITLE
Independent Director
COMPENSATION
$320K
AGE
70
TENURE
9.3 yrs

Rick Wallace

TITLE
Independent Director
COMPENSATION
$320K
AGE
58
TENURE
8.1 yrs

Deborah Kerr

TITLE
Independent Director
COMPENSATION
$291K
AGE
46
TENURE
1.4 yrs

Scott Schenkel

TITLE
Independent Director
COMPENSATION
$291K
AGE
50
TENURE
1.4 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
05. Sep 18 Sell Joel Reich Individual 31. Aug 18 31. Aug 18 -7,157 €74.80 €-535,373
29. Jun 18 Sell Joel Reich Individual 27. Jun 18 27. Jun 18 -25,000 €67.32 €-1,682,933
08. Jun 18 Sell Joel Reich Individual 06. Jun 18 06. Jun 18 -12,000 €62.15 €-745,795
31. May 18 Sell Joel Reich Individual 29. May 18 29. May 18 -18,108 €58.61 €-1,061,307
X
Management checks
We assess NetApp's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. NetApp has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

NTA News

Simply Wall St News

NTA Company Info

Description

NetApp, Inc. provides software, systems, and services to manage and share data on-premises, and private and public clouds worldwide. It offers cloud data services, such as ONTAP cloud storage data management and NetApp cloud sync data synchronization services; NetApp SaaS backup for Microsoft Office 365; NetApp cloud backup solutions; OnCommand management software and management integration tools; and NetApp private storage for cloud. The company also provides cloud Infrastructure solutions, including FlexPod, a portfolio of pre-validated designs and integration; NetApp advisor converged systems; NetApp HCI enterprise-scale hyper converged cloud infrastructure; and NetApp StorageGRID Webscale object storage software. In addition, it offers storage systems and software, such as all-flash arrays that support data management; hybrid arrays to deploy the speed of flash storage; NetApp ONTAP storage operating system; NetApp ONTAP Select, which offers robust enterprise storage services; NetApp flex array storage virtualization software; NetApp SnapCenter backup management software; NetApp SnapMirror data replication software; NetApp MetroCluster business continuity software; NetApp SnapLock data compliance software; SANtricity storage operating system; and NetApp SolidFire element operating systems. In addition, it provides software and hardware maintenance, professional, and customer education and training services, as well as support solutions. The company serves energy, financial services, government, high technology, Internet, life sciences, healthcare services, manufacturing, media, entertainment, animation, video postproduction, and telecommunications sectors through a direct sales force and channel partners. NetApp, Inc. has a strategic partnership with Lenovo to help customers modernize IT and enhance their digital transformation. NetApp, Inc. was founded in 1992 and is headquartered in Sunnyvale, California.

Details
Name: NetApp, Inc.
NTA
Exchange: DB
Founded: 1992
$16,974,620,932
246,974,767
Website: http://www.netapp.com
Address: NetApp, Inc.
1395 Crossman Avenue,
Sunnyvale,
California, 94089,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NasdaqGS NTAP Common Stock Nasdaq Global Select US USD 21. Nov 1995
DB NTA Common Stock Deutsche Boerse AG DE EUR 21. Nov 1995
Number of employees
Current staff
Staff numbers
10,300
NetApp employees.
Industry
Technology Hardware, Storage and Peripherals
Tech
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/04/18 20:35
End of day share price update: 2019/04/18 00:00
Last estimates confirmation: 2019/04/18
Last earnings filing: 2019/02/19
Last earnings reported: 2019/01/25
Last annual earnings reported: 2018/04/27


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.