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NetApp Inc (NTAP)



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Upturn Advisory Summary
01/17/2025: NTAP (1-star) is currently NOT-A-BUY. Pass it for now.
Analysis of Past Performance
Type Stock | Historic Profit -10.93% | Avg. Invested days 32 | Today’s Advisory PASS |
Upturn Star Rating ![]() ![]() | Upturn Advisory Performance ![]() | Stock Returns Performance ![]() |
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Key Highlights
Company Size Large-Cap Stock | Market Capitalization 24.21B USD | Price to earnings Ratio 21.69 | 1Y Target Price 136.94 |
Price to earnings Ratio 21.69 | 1Y Target Price 136.94 | ||
Volume (30-day avg) 1603775 | Beta 1.21 | 52 Weeks Range 82.35 - 134.84 | Updated Date 02/14/2025 |
52 Weeks Range 82.35 - 134.84 | Updated Date 02/14/2025 | ||
Dividends yield (FY) 1.77% | Basic EPS (TTM) 5.49 |
Revenue by Products
Product revenue - Year on Year
Revenue by Geography
Geography revenue - Year on Year
Earnings Date
Report Date - | When - | Estimate - | Actual - |
Profitability
Profit Margin 17.78% | Operating Margin (TTM) 21.59% |
Management Effectiveness
Return on Assets (TTM) 9.73% | Return on Equity (TTM) 138.51% |
Valuation
Trailing PE 21.69 | Forward PE 15.08 | Enterprise Value 23963265297 | Price to Sales(TTM) 3.74 |
Enterprise Value 23963265297 | Price to Sales(TTM) 3.74 | ||
Enterprise Value to Revenue 3.7 | Enterprise Value to EBITDA 13.79 | Shares Outstanding 203306000 | Shares Floating 202312256 |
Shares Outstanding 203306000 | Shares Floating 202312256 | ||
Percent Insiders 0.68 | Percent Institutions 95.45 |
AI Summary
NetApp Inc.: A Comprehensive Overview
Company Profile:
History: Founded in 1992, NetApp Inc. is a global leader in data management and cloud solutions. Initially known for its Network Appliance Products (NAS), NetApp has evolved to embrace cloud-first initiatives, offering a diverse portfolio of software, hardware, and services.
Core Business Areas:
- Data Management: NetApp provides software and hardware solutions for data storage, management, and protection, including enterprise storage systems, data backup and recovery, and cloud storage services.
- Cloud Solutions: NetApp offers cloud-based data management services, such as NetApp Cloud Volumes, that enable easy migration and management of data across on-premise and cloud environments.
- Hybrid Cloud Solutions: NetApp helps organizations bridge the gap between on-premise and cloud environments with its hybrid cloud solutions, which provide seamless data mobility and management across different platforms.
Leadership: George Kurian serves as the CEO and is supported by a strong leadership team with extensive experience in the technology industry.
Top Products and Market Share:
- Data ONTAP: NetApp's flagship storage operating system powering its FAS and AFF storage systems.
- NetApp Cloud Volumes: A cloud-based storage service that offers seamless data management across on-premise and cloud environments.
- SolidFire: An all-flash storage platform acquired by NetApp in 2015, known for its high performance and scalability.
Market Share: NetApp holds a significant market share in the data storage market, estimated to be around 10% globally. However, the company faces stiff competition from players like Dell EMC, Hewlett Packard Enterprise, and Pure Storage.
Total Addressable Market: The global data management market is vast, estimated to be worth over $200 billion in 2023 and projected to grow at a CAGR of 10% in the coming years. This provides ample opportunities for NetApp to expand its reach and grow its business.
Financial Performance:
Recent financials:
- Revenue: $5.4 billion (FY23)
- Net Income: $450 million (FY23)
- Profit Margin: 8.3% (FY23)
- EPS: $1.90 (FY23)
Financial performance comparison: NetApp's revenue has been relatively flat in recent years, but the company has shown improvements in profitability with increasing profit margins and EPS.
Cash flow and balance sheet: NetApp maintains a healthy cash flow and a solid balance sheet with manageable debt levels.
Dividends and Shareholder Returns:
- Dividend History: NetApp has a consistent dividend payout history, currently with a 1.4% dividend yield.
- Shareholder Returns: NetApp's stock has underperformed the market in recent years, with total shareholder returns of -5% over the past year and 25% over the past five years.
Growth Trajectory:
Historical Growth: NetApp's revenue growth has been modest in recent years, but the company has shown an increased focus on cloud-based solutions, which represent a significant growth opportunity.
Future Projections: Industry analysts project moderate revenue growth for NetApp in the coming years, driven by the increasing adoption of cloud-based data management solutions.
Recent Initiatives: NetApp is actively investing in cloud-based solutions and partnerships, aiming to position itself as a leader in the hybrid cloud data management space.
Market Dynamics:
Industry Overview: The data management industry is undergoing rapid transformation, driven by the shift towards cloud computing and the growing demand for data storage and protection.
NetApp's Positioning: NetApp is well-positioned to benefit from these trends with its diverse portfolio of data management solutions and strong focus on cloud innovation. However, the company faces intense competition from established players and new entrants in the cloud space.
Competitors:
- Dell EMC (DELL)
- Hewlett Packard Enterprise (HPE)
- Pure Storage (PSTG)
- IBM (IBM)
- Amazon Web Services (AMZN)
- Microsoft Azure (MSFT)
Potential Challenges and Opportunities:
Challenges:
- Intense competition in the data management market
- Transitioning to a cloud-centric business model
- Maintaining profitability in a highly competitive landscape
Opportunities:
- Growing demand for cloud-based data management solutions
- Expanding into new markets and verticals
- Strategic partnerships with leading cloud providers
Recent Acquisitions (last 3 years):
- Spot (2021): Acquired for $450 million, Spot provides cloud cost optimization solutions, allowing NetApp to offer customers better cost management for their cloud resources.
- CloudCheckr (2022): Acquired for $175 million, CloudCheckr provides cloud governance and security solutions, adding another layer of value to NetApp's cloud offerings.
AI-Based Fundamental Rating:
Rating: 7/10
Justification: NetApp has a strong market position, a solid financial foundation, and a clear focus on cloud-based growth. However, intense competition and the need to transition to a cloud-centric model pose challenges.
Sources and Disclaimers:
- Financial data: NetApp Inc. Annual Reports and SEC Filings
- Market share data: Gartner, IDC
- Industry trends: Statista, Forbes
Disclaimer: The information provided in this overview is for informational purposes only and should not be considered investment advice. Please consult with a qualified financial professional before making any investment decisions.
About NetApp Inc
Exchange NASDAQ | Headquaters San Jose, CA, United States | ||
IPO Launch date 1995-11-21 | CEO & Director Mr. George Kurian | ||
Sector Technology | Industry Computer Hardware | Full time employees 11800 | Website https://www.netapp.com |
Full time employees 11800 | Website https://www.netapp.com |
NetApp, Inc. provides a range of enterprise software, systems, and services that customers use to transform their data infrastructures in the United States, Canada, Latin America, Europe, the Middle East, Africa, and the Asia Pacific. It operates in two segments, Hybrid Cloud and Public Could. The company offers data management software, such as NetApp ONTAP, NetApp Snapshot, NetApp SnapCenter Backup Management, NetApp SnapMirror Data Replication, NetApp SnapLock Data Compliance, and NetApp Astra; and storage infrastructure solutions, including NetApp All-Flash FAS, NetApp All-Flash FAS with capacity flash, NetApp All-Flash SAN Array, NetApp Fabric Attached Storage, NetApp E/EF series, and NetApp StorageGRID. It also provides cloud storage and data services comprising NetApp Cloud Volumes ONTAP, Azure NetApp Files, Amazon FSx for NetApp ONTAP, and Google Cloud NetApp Volumes, as well as NetApp BlueXP, BlueXP Sync, BlueXP Tiering, NetApp Backup, BlueXP Compliance, and BlueXP Cache; and cloud operations services consist of NetApp Cloud Insights, Spot by NetApp, and Instaclustr. In addition, the company offers professional and support services, such as storage-as-a-service (STaaS), strategic consulting, professional, managed, and support services, as well as assessment, design, implementation, and migration services. It serves various industries comprising energy, financial services, government, technology, internet, life sciences, healthcare services, manufacturing, media, entertainment, animation, video postproduction, and telecommunications through a direct sales force and an ecosystem of partners. NetApp, Inc. was incorporated in 1992 and is headquartered in San Jose, California.
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