Cash flow NetApp, Inc.

Equities

NTAP

US64110D1046

Computer Hardware

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Sep. 11	NetApp to Be Primary Data Storage Vendor of Anaplan	MT
Sep. 10	Transcript : NetApp, Inc. Presents at Goldman Sachs Communacopia + Technology Conference 2024, Sep-09-2024 03:45 PM

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Published financial data: NETAPP, INC.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: April	2020	2021	2022	2023	2024
Revenues	5.41B	5.74B	6.32B	6.36B	6.27B
Total Revenues	5.41B	5.74B	6.32B	6.36B	6.27B
Cost of Goods Sold, Total	1.79B	1.93B	2.1B	2.15B	1.84B
Gross Profit	3.62B	3.82B	4.22B	4.21B	4.43B
Selling General & Admin Expenses, Total	1.84B	2B	2.14B	2.09B	2.14B
R&D Expenses	847M	881M	881M	956M	1.03B
Other Operating Expenses, Total	2.69B	2.88B	3.02B	3.05B	3.16B
Operating Income	931M	938M	1.2B	1.16B	1.27B
Interest Expense, Total	-55M	-74M	-73M	-67M	-64M
Interest And Investment Income	48M	9M	7M	69M	112M
Net Interest Expenses	-7M	-65M	-66M	2M	48M
Currency Exchange Gains (Loss)	-	20M	-91M	4M	-59M
Other Non Operating Income (Expenses)	2M	-16M	95M	10M	60M
EBT, Excl. Unusual Items	926M	877M	1.14B	1.18B	1.32B
Restructuring Charges	-21M	-42M	-33M	-120M	-44M
Merger & Related Restructuring Charges	-	-16M	-13M	-21M	-10M
Gain (Loss) On Sale Of Investments	4M	6M	-	32M	-
Gain (Loss) On Sale Of Assets	38M	156M	-	-	-
Legal Settlements	-	-5M	-	-	-
Other Unusual Items	-3M	-14M	-	-	-
EBT, Incl. Unusual Items	944M	962M	1.1B	1.07B	1.26B
Income Tax Expense	125M	232M	158M	-208M	277M
Earnings From Continuing Operations	819M	730M	937M	1.27B	986M
Net Income to Company	819M	730M	937M	1.27B	986M
Net Income - (IS)	819M	730M	937M	1.27B	986M
Net Income to Common Incl Extra Items	819M	730M	937M	1.27B	986M
Net Income to Common Excl. Extra Items	819M	730M	937M	1.27B	986M
Per Share Items
Net EPS - Basic	3.56	3.29	4.2	5.87	4.74
Basic EPS - Continuing Operations	3.56	3.29	4.2	5.87	4.74
Basic Weighted Average Shares Outstanding	230M	222M	223M	217M	208M
Net EPS - Diluted	3.52	3.23	4.09	5.79	4.63
Diluted EPS - Continuing Operations	3.52	3.23	4.09	5.79	4.63
Diluted Weighted Average Shares Outstanding	233M	226M	229M	220M	213M
Normalized Basic EPS	2.52	2.47	3.2	3.38	3.96
Normalized Diluted EPS	2.48	2.43	3.11	3.34	3.86
Dividend Per Share	1.92	1.92	2	2	2
Payout Ratio	53.6	58.49	47.6	33.91	42.19
Supplemental Items
EBITDA	1.08B	1.1B	1.36B	1.36B	1.49B
EBITA	931M	946M	1.22B	1.18B	1.29B
EBIT	931M	938M	1.2B	1.16B	1.27B
EBITDAR	1.16B	1.17B	1.44B	1.44B	1.56B
Total Revenues (As Reported)	5.41B	5.74B	6.32B	6.36B	6.27B
Effective Tax Rate - (Ratio)	13.24	24.12	14.43	-19.51	21.93
Current Domestic Taxes	92M	104M	242M	248M	114M
Current Foreign Taxes	50M	134M	60M	150M	110M
Total Current Taxes	142M	238M	302M	398M	224M
Deferred Domestic Taxes	-32M	8M	-152M	-47M	30M
Deferred Foreign Taxes	15M	-14M	8M	-559M	23M
Total Deferred Taxes	-17M	-6M	-144M	-606M	53M
Normalized Net Income	579M	548M	713M	734M	823M
Interest on Long-Term Debt	-	-	-	67M	64M
Supplemental Operating Expense Items
Selling and Marketing Expenses	1.58B	1.74B	1.86B	1.83B	1.83B
General and Administrative Expenses	263M	252M	279M	265M	308M
Research And Development Expense From Footnotes	886M	922M	914M	998M	1.06B
Net Rental Expense, Total	71M	66M	76M	77M	68M
Imputed Operating Lease Interest Expense	17.33M	17.12M	15.6M	14.68M	13.05M
Imputed Operating Lease Depreciation	53.67M	48.88M	60.4M	62.32M	54.95M
Stock-Based Comp., COGS (Total)	13M	14M	17M	24M	29M
Stock-Based Comp., R&D Exp. (Total)	53M	64M	75M	111M	132M
Stock-Based Comp., S&M Exp. (Total)	66M	92M	115M	135M	143M
Stock-Based Comp., G&A Exp. (Total)	21M	27M	38M	42M	53M
Total Stock-Based Compensation	153M	197M	245M	312M	357M

Fiscal Period: April	2020	2021	2022	2023	2024
Assets
Cash And Equivalents	2.66B	4.53B	4.11B	2.32B	1.9B
Short Term Investments	230M	75M	28M	761M	1.36B
Total Cash And Short Term Investments	2.89B	4.6B	4.14B	3.08B	3.26B
Accounts Receivable, Total	973M	945M	1.23B	987M	1.01B
Total Receivables	973M	945M	1.23B	987M	1.01B
Inventory	145M	114M	204M	167M	186M
Prepaid Expenses	-	-	-	-	-
Deferred Tax Assets Current	-	-	-	-	-
Other Current Assets, Total	268M	338M	371M	449M	446M
Total Current Assets	4.27B	6B	5.94B	4.68B	4.9B
Gross Property Plant And Equipment	2.22B	1.91B	2.15B	2.29B	2.33B
Accumulated Depreciation	-1.36B	-1.27B	-1.25B	-1.36B	-1.48B
Net Property Plant And Equipment	864M	639M	896M	931M	851M
Long-term Investments	27M	103M	103M	80M	85M
Goodwill	1.78B	2.04B	2.35B	2.76B	2.76B
Other Intangibles, Total	44M	101M	142M	181M	124M
Deferred Tax Assets Long-Term	220M	219M	362M	948M	896M
Deferred Charges Long-Term	89M	111M	117M	-	-
Other Long-Term Assets, Total	226M	147M	115M	239M	275M
Total Assets	7.52B	9.36B	10.03B	9.82B	9.89B
Liabilities
Accounts Payable, Total	426M	420M	607M	392M	517M
Accrued Expenses, Total	697M	899M	832M	793M	955M
Short-term Borrowings	522M	-	-	-	-
Current Portion of Long-Term Debt	-	-	250M	-	400M
Current Portion of Leases	51M	49M	47M	47M	40M
Unearned Revenue Current, Total	1.89B	2.06B	2.17B	2.22B	2.18B
Other Current Liabilities	26M	22M	46M	17M	18M
Total Current Liabilities	3.62B	3.45B	3.95B	3.47B	4.11B
Long-Term Debt	1.15B	2.63B	2.39B	2.39B	1.99B
Long-Term Leases	93M	71M	257M	248M	220M
Unearned Revenue Non Current	1.8B	1.94B	2.06B	2.1B	2.06B
Pension & Other Post Retirement Benefits	-	-	-	-	-
Other Non Current Liabilities	621M	579M	531M	460M	365M
Total Liabilities	7.28B	8.68B	9.19B	8.66B	8.74B
Common Stock, Total	284M	504M	760M	945M	997M
Additional Paid In Capital	-	-	-	-	-
Retained Earnings	-	211M	122M	265M	208M
Comprehensive Income and Other	-42M	-30M	-44M	-51M	-59M
Total Common Equity	242M	685M	838M	1.16B	1.15B
Total Equity	242M	685M	838M	1.16B	1.15B
Total Liabilities And Equity	7.52B	9.36B	10.03B	9.82B	9.89B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	222M	223M	221M	212M	206M
ECS Total Common Shares Outstanding	219M	222M	220M	212M	206M
Book Value / Share	1.11	3.09	3.81	5.47	5.56
Tangible Book Value	-1.58B	-1.46B	-1.65B	-1.78B	-1.74B
Tangible Book Value Per Share	-7.21	-6.55	-7.5	-8.4	-8.43
Total Debt	1.81B	2.75B	2.94B	2.68B	2.65B
Net Debt	-1.08B	-1.85B	-1.2B	-393M	-606M
Debt Equivalent of Unfunded Proj. Benefit Obligation	27M	34M	30M	31M	36M
Debt Equivalent Oper. Leases	568M	528M	608M	616M	544M
Equity Method Investments, Total	-	71M	73M	80M	85M
Account Code - Inventory Valuation	5	5	5	5	5
Inventories - Raw Materials, Total	28M	22M	131M	65M	116M
Inventories - Finished Goods, Total	117M	92M	73M	102M	70M
Land - (BS)	103M	46M	46M	46M	46M
Buildings, Total	597M	356M	353M	359M	367M
Machinery, Total	908M	962M	980M	1.14B	1.18B
Full Time Employees	10.8K	11K	12K	12K	11.8K

Fiscal Period: April	2020	2021	2022	2023	2024
Net Income	819M	730M	937M	1.27B	986M
Depreciation & Amortization - CF	154M	158M	148M	180M	198M
Amortization of Goodwill and Intangible Assets - (CF)	-	8M	13M	26M	23M
Depreciation & Amortization, Total	154M	166M	161M	206M	221M
Amortization of Deferred Charges, Total - (CF)	39M	41M	33M	42M	34M
(Gain) Loss From Sale Of Asset	-38M	-156M	-	-	-
Stock-Based Compensation (CF)	153M	197M	245M	312M	357M
Tax Benefit from Stock Options	-	-	-	-	-
Other Operating Activities, Total	35M	70M	-143M	-621M	85M
Change In Accounts Receivable	238M	62M	-313M	260M	-33M
Change In Inventories	-14M	31M	-90M	37M	-18M
Change In Accounts Payable	-117M	-11M	181M	-207M	123M
Change in Unearned Revenues	54M	193M	384M	46M	-14M
Change In Income Taxes	-163M	-57M	-45M	-76M	-106M
Change in Other Net Operating Assets	-100M	67M	-139M	-166M	50M
Cash from Operations	1.06B	1.33B	1.21B	1.11B	1.68B
Capital Expenditure	-124M	-162M	-226M	-239M	-155M
Sale of Property, Plant, and Equipment	-	371M	-	-	-
Cash Acquisitions	-73M	-350M	-380M	-491M	-
Sale (Purchase) of Real Estate properties	96M	-	-	-	-
Investment in Marketable and Equity Securities, Total	1.37B	160M	45M	-719M	-580M
Other Investing Activities, Total	-	2M	-	59M	-
Cash from Investing	1.27B	21M	-561M	-1.39B	-735M
Short Term Debt Issued, Total	172M	-	-	-	-
Long-Term Debt Issued, Total	111M	2.06B	-	-	-
Total Debt Issued	283M	2.06B	-	-	-
Short Term Debt Repaid, Total	-	-420M	-	-	-
Long-Term Debt Repaid, Total	-410M	-689M	-	-250M	-
Total Debt Repaid	-410M	-1.11B	-	-250M	-
Issuance of Common Stock	102M	98M	105M	108M	100M
Repurchase of Common Stock	-1.49B	-167M	-674M	-934M	-1.03B
Common Dividends Paid	-439M	-427M	-446M	-432M	-416M
Common & Preferred Stock Dividends Paid	-439M	-427M	-446M	-432M	-416M
Other Financing Activities, Total	-6M	-8M	-2M	-5M	-1M
Cash from Financing	-1.96B	444M	-1.02B	-1.51B	-1.34B
Foreign Exchange Rate Adjustments	-34M	71M	-49M	-1M	-19M
Net Change in Cash	335M	1.87B	-416M	-1.8B	-413M
Supplemental Items
Cash Interest Paid	50M	57M	67M	65M	59M
Cash Income Tax Paid (Refund)	276M	338M	398M	386M	357M
Levered Free Cash Flow	914M	1.13B	764M	970M	1.42B
Unlevered Free Cash Flow	948M	1.18B	810M	1.01B	1.46B
Change In Net Working Capital	-144M	-349M	155M	34M	-210M
Net Debt Issued / Repaid	-127M	948M	-	-250M	-

Fiscal Period: April	2020	2021	2022	2023	2024
Profitability
Return on Assets	7.16	6.95	7.76	7.3	8.04
Return on Total Capital	23.57	21.35	20.84	19.01	20.74
Return On Equity %	122.97	157.5	123.05	127.59	85.55
Return on Common Equity	122.97	157.5	123.05	127.59	85.55
Margin Analysis
Gross Profit Margin %	66.94	66.42	66.79	66.16	70.72
SG&A Margin	34.09	34.75	33.81	32.91	34.08
EBITDA Margin %	20.05	19.22	21.59	21.46	23.76
EBITA Margin %	17.2	16.47	19.25	18.63	20.6
EBIT Margin %	17.2	16.33	19.04	18.22	20.23
Income From Continuing Operations Margin %	15.13	12.71	14.83	20.03	15.73
Net Income Margin %	15.13	12.71	14.83	20.03	15.73
Net Avail. For Common Margin %	15.13	12.71	14.83	20.03	15.73
Normalized Net Income Margin	10.69	9.54	11.29	11.54	13.13
Levered Free Cash Flow Margin	16.88	19.69	12.1	15.24	22.65
Unlevered Free Cash Flow Margin	17.51	20.5	12.82	15.9	23.28
Asset Turnover
Asset Turnover	0.67	0.68	0.65	0.64	0.64
Fixed Assets Turnover	6.67	7.64	8.23	6.96	7.03
Receivables Turnover (Average Receivables)	4.94	5.99	5.81	5.74