NTAP Netapp margins

Relative Growth: Rel. Growth: 78

Relative Strength: Rel. Strength: 96

Relative Valuation: Rel. Valuation: 37

Relative Profitability: Rel. Profitability: 95

Gross margin

70.6%

Operating margin

25%

EBITDA margin

27.8%

Net margin

19.2%

For the latest period, Netapp has a gross margin of 70.6%, an operating margin of 25%, an EBITDA margin of 27.8%, and a net margin of 19.2%. Each available margin advanced from the same period last year. Operating margin recorded the strongest gain, gaining by 4.3 percentage points.

NTAP margin history

Gross, operating, EBITDA and net margin trends

Netapp's margins averaged 70.37% gross, 20.85% operating, 25.53% EBITDA, and 16.98% net during the last 3 years. Currently all four current margins are above their three-year averages.

NTAP margin expansion

Year-over-year margin changes in percentage points

All available margins expanded year over year, led by operating margin with an increase of 4.3 percentage points.

Gross margin expansion

0.6pp

Operating margin expansion

4.3pp

EBITDA margin expansion

2.6pp

Net margin expansion

1.4pp

NTAP Gross margin

Over the last 3 years, the average gross margin for Netapp was 70.37%. The current gross margin stands at 70.6%, 0.2 percentage points above its three-year average. Netapp's gross margin ranged from a low of 68.5% in Oct 2023 to a high of 71.1% in Oct 2024.

NTAP Operating margin

Over the last 3 years, the average operating margin for Netapp was 20.85%. The latest operating margin for Netapp is 25%, 4.2 percentage points above its three-year average. Netapp's operating margin ranged from a low of 15.8% in Oct 2023 to a high of 25% in Jul 2026.

NTAP EBITDA margin

Throughout the last 3 years, Netapp had an average EBITDA margin of 25.53%. Against its three-year average, Netapp's EBITDA margin is currently 27.8%, 2.3 percentage points above its three-year average. Looking back over the last 3 years, Netapp's EBITDA margin reached 27.8% at its highest point in Jul 2026 and 21.3% at its lowest in Oct 2023.

NTAP Net margin

Over the last 3 years, Netapp's net margin averaged 16.98%. Currently, Netapp's current net margin is 19.2%, which is 2.2 percentage points above its three-year average. During this period, net margin reached a high of 19.2% in Jul 2026 and a low of 11.3% in Oct 2023.

NTAP margin group comparison

Margins compared with peer-group, industry and sector averages

With a gross margin of 70.6%, NTAP stands higher than the Technology sector, the industry and its peers average. Looking at the Technology sector average of 52.1%, Netapp's gross margin is 36% higher.

NTAP margin peer comparison

Compare margins with selected peers

Frequently asked questions

What is Netapp's gross margin?

For the period ending Jul 31, 2026, NTAP recorded a gross margin of 70.6%.

What is Netapp's operating margin?

For the period ending Jul 31, 2026, NTAP recorded an operating margin of 25%.

What is Netapp's EBITDA margin?

The current EBITDA margin for NTAP is 27.8% as of Jul 31, 2026.

What is Netapp's net margin?

As of Jul 31, 2026, NTAP has a net margin of 19.2%.

What are the average margins of NTAP?

The three-year average margins for NTAP were 70.4% gross, 20.9% operating, 25.5% EBITDA, and 17.0% net.

What are the highest historical margins of NTAP?

Across the 5-year period, NTAP posted its highest margins at 71.1% gross in Oct 2024, 25% operating in Jul 2026, 27.8% EBITDA in Jul 2026, and 22.5% net in Oct 2022.

What are the lowest historical margins of NTAP?

Over the last 5 years, Netapp's lowest margins were 65.4% gross in Jan 2023, 15.2% operating in Jul 2023, 20.3% EBITDA in Jan 2023, and 11.3% net in Oct 2023.