Company Valuation: NetApp, Inc.

Data adjusted to current consolidation scope
Fiscal Period: April 2022 2023 2024 2025 2026 2027 2028 2029
Market Cap 1 16,915 13,540 20,650 17,935 21,452 41,101 - -
Change - -19.95% 52.51% -13.15% 19.61% 91.6% - -
Enterprise Value (EV) 1 15,417 12,859 19,790 17,324 20,355 39,569 38,752 38,346
Change - -16.59% 53.9% -12.46% 17.5% 94.4% -2.07% -1.05%
P/E 18.6x 10.9x 21.6x 15.6x 17.1x 26.9x 23.7x 22.4x
PBR 20.1x 12x 18.2x 17.3x 16x 21x 15.1x 11.3x
PEG - 0.3x -1.1x 0.7x 1.4x 1.2x 1.7x 4x
Capitalization / Revenue 2.68x 2.13x 3.29x 2.73x 3.1x 5.03x 4.75x 4.49x
EV / Revenue 2.44x 2.02x 3.16x 2.64x 2.94x 4.84x 4.48x 4.19x
EV / EBITDA 9.3x 7.2x 10.2x 8.23x 8.9x 14.6x 13.4x 12.2x
EV / EBIT 10.3x 8.36x 11.8x 9.3x 9.75x 15.7x 14x 12.8x
EV / FCF 15.7x 14.8x 12.9x 12.9x 10.9x 22.5x 17.9x 16.2x
FCF Yield 6.39% 6.75% 7.73% 7.72% 9.18% 4.45% 5.58% 6.19%
Dividend per Share 2 2 2 2 2.08 2.08 2.1 2.18 2.304
Rate of return 2.63% 3.16% 2% 2.36% 1.91% 1% 1.04% 1.1%
EPS 2 4.09 5.79 4.63 5.67 6.35 7.788 8.847 9.343
Distribution rate 48.9% 34.5% 43.2% 36.7% 32.8% 27% 24.6% 24.7%
Net sales 1 6,318 6,362 6,268 6,572 6,925 8,179 8,653 9,147
EBITDA 1 1,657 1,787 1,937 2,105 2,288 2,703 2,898 3,134
EBIT 1 1,496 1,539 1,682 1,862 2,088 2,527 2,769 3,005
Net income 1 937 1,274 986 1,186 1,276 1,538 1,721 1,782
Net Debt 1 -1,498 -681 -860 -611 -1,097 -1,531 -2,349 -2,754
Reference price 2 76.01 63.30 100.06 88.17 108.71 209.25 209.25 209.25
Nbr of stocks (in thousands) 222,536 213,905 206,377 203,412 197,330 196,419 - -
Announcement Date 6/1/22 5/31/23 5/30/24 5/29/25 5/28/26 - - -
1USD in Million2USD
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
26.25x4.72x14.29x1.03% 40.15B
7.88x4.41x5.49x-.--% 251B
23.27x8.3x16.03x0.13% 163B
133.48x8.22x36.2x-.--% 43.12B
9.61x - - - 11.17B
3.69x1.3x2.54x15.33% 4.03B
19.27x1.08x7.72x1.22% 406M
11.71x - - - 367M
Average 29.40x 4.67x 13.71x 2.95% 64.18B
Weighted average by Cap. 24.78x 6.00x 12.24x 0.25%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA



Year-on-year evolution of the Yield

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