NetApp Inc stock (US64120C1045): record FY 2026 results and valuation in focus

NetApp shares on Nasdaq traded near recent highs after the US data-management specialist reported record fourth-quarter and full-year 2026 results, putting the focus on how current valuation multiples reflect its expanding AI-oriented storage and cloud business.

NetApp Inc shares traded firmly on the Nasdaq on 05/29/2026 after the United States-based data-management company reported record fourth-quarter and fiscal year 2026 results, highlighting the strength of its storage and cloud offerings for AI and hybrid-cloud workloads.Businesswire / NetApp press release as of 05/28/2026 The stock opened at USD 142.74 on Nasdaq on Thursday, with the 50-day moving average at USD 110.18 and the 200-day moving average at USD 98.05, underscoring the strong rally in recent months according to Nasdaq data as of 05/28/2026.MarketBeat as of 05/28/2026

In its latest earnings release filed in the United States, NetApp reported that Q4 FY 2026 net revenue reached a record USD 2.12 billion, up from USD 1.79 billion in the prior-year quarter, while GAAP net income came in at USD 447 million compared with USD 334 million a year earlier, according to the company.Businesswire / NetApp press release as of 05/28/2026 For the full fiscal year 2026, NetApp stated it delivered record net revenue of USD 7.91 billion versus USD 6.85 billion in fiscal 2025, record GAAP operating income of USD 1.62 billion compared with USD 1.18 billion, and record free cash flow of USD 2.32 billion versus USD 1.86 billion in the prior year, reinforcing its position as a key US storage and data-services provider.NetApp investor relations as of 05/28/2026

As of: 05/29/2026

By the editorial team - specialized in equity coverage.

At a glance

• Name: NTAP
• Sector/industry: Enterprise storage, cloud and data management
• Headquarters/country: San Jose, United States
• Core markets: North America, Europe, Asia-Pacific
• Key revenue drivers: Hybrid cloud storage systems, all-flash arrays, cloud services and data-management software subscriptions
• Home exchange/listing venue: Nasdaq (NTAP)
• Trading currency: USD

NetApp Inc: core business model

NetApp Inc focuses on delivering enterprise storage platforms and cloud data-management services that help customers manage, protect and optimize data across on-premises environments and multiple public clouds.

Latest quarterly results for NetApp Inc at a glance

The Q4 FY 2026 report published on 05/28/2026 showed that NetApp generated net revenue of USD 2.12 billion, compared with USD 1.79 billion in Q4 FY 2025, supported by demand for all-flash storage and cloud-connected solutions, according to the companys US filing.Businesswire / NetApp press release as of 05/28/2026 NetApp stated that Q4 FY 2026 GAAP operating income reached USD 496 million, up from USD 384 million a year earlier, while GAAP diluted earnings per share increased to USD 2.06 from USD 1.51 in the prior-year quarter, reflecting operating leverage and higher margins.NetApp investor relations as of 05/28/2026

For fiscal year 2026 as a whole, the company reported total net revenue of USD 7.91 billion versus USD 6.85 billion in fiscal 2025, with GAAP gross margin of 70.1 percent compared with 68.4 percent in the previous year, according to its US disclosure.Businesswire / NetApp press release as of 05/28/2026 NetApp highlighted that public cloud annualized revenue run rate reached USD 1.9 billion as of the end of fiscal 2026 compared with USD 1.5 billion a year earlier, illustrating the growing contribution of cloud-delivered services alongside its traditional storage systems business.NetApp investor relations as of 05/28/2026

Conclusion

NetApps record Q4 and fiscal 2026 results, combined with its elevated share price on Nasdaq, highlight how the company is benefiting from demand for storage and data services that support AI and hybrid-cloud workloads. The latest financial figures, including higher revenue, margins and cash generation, provide a data point for investors assessing whether current valuation levels adequately capture the companys growth profile and competitive position.

Disclaimer: This article does not constitute investment advice. The comprehensive scope of this informative article was made possible through the use of a.i.. Stocks are volatile financial instruments.