Question 1

What is NetApp's P/B ratio?

Accepted Answer

NetApp (NTAP) P/B ratio is 24.6× as of June 5, 2026. The ratio is calculated by dividing market capitalisation by book value of equity, using USD-normalised financials (IAS 21 exchange-rate translation for non-USD reporters).

Question 2

How is the P/B ratio calculated?

Accepted Answer

P/B = Market Capitalisation ÷ Book Value of Equity (most recent quarterly shareholders' equity), or equivalently Share Price ÷ Book Value Per Share. All inputs are sourced from audited GAAP/IFRS filings and translated to USD using period-end exchange rates so the multiple is comparable across companies and currencies.

Question 3

What is the P/B ratio?

Accepted Answer

The price-to-book (P/B) ratio compares a company's market capitalisation to its book value of equity (total shareholders' equity) on the most recent quarterly balance sheet. It is calculated as market cap ÷ book value of equity (equivalent to share price ÷ book value per share). A P/B below 1× implies the market values the business below its accounting net worth; values well above 1× reflect intangible assets, brand value, or a high return on equity.

Question 4

What is a good P/B ratio for NetApp?

Accepted Answer

A "good" P/B depends on the business model. Banks, insurers, and other capital-heavy financials typically trade near 1×; asset-light technology and consumer-brand companies can sustainably trade at 5×+ because much of their value is intangible. P/B is most informative when paired with return on equity (ROE). For NetApp specifically, the relevant sector benchmark is the current sector median of 6.0×.

Question 5

Is NetApp's P/B ratio high or low?

Accepted Answer

NetApp's P/B ratio of 24.6× is above its own 5-year average of 20.2× and above the sector median of 6.0×. That places the current reading at the 70th percentile of its 10-year history. A higher multiple usually reflects stronger expected growth, lower perceived risk, or higher returns on capital; a lower multiple reflects the opposite.

Question 6

What is NetApp's historical P/B ratio range?

Accepted Answer

In the available daily series, NetApp (NTAP) P/B ratio has ranged from a low of 2.1× in 2016 to a high of 47.9× in 2020. The 5-year average is 20.2× and the 5-year median is 19.4×.

Question 7

What was NetApp's P/B ratio in 2026?

Accepted Answer

NetApp (NTAP) P/B ratio at the end of 2026 was 15.9×. Annual values reflect the multiple on the last trading day of each calendar year, using the trailing twelve-month book value figure available at that date.

Question 8

Why does NetApp's P/B ratio change over time?

Accepted Answer

Valuation multiples move with two inputs: the numerator (market capitalisation, which tracks the share price) and the denominator (book value). Share-price changes — driven by interest rates, earnings expectations, risk appetite, and broader market sentiment — typically dominate short-term moves, while changes in the underlying fundamental drive the longer-term trend. As a result, the ratio can rise during stock-price rallies even if the business itself has not become more valuable, and fall during sell-offs even when fundamentals are improving.


2026	$21.42B	$1.35B	15.9×	-1.7×	Apr 24, 2026
2025	$18.22B	$1.04B	17.5×	-0.9×	Apr 30, 2025
2024	$21.06B	$1.15B	18.4×	+6.7×	Apr 30, 2024
2023	$13.57B	$1.16B	11.7×	-7.7×	Apr 30, 2023
2022	$16.26B	$838.00M	19.4×	-4.8×	Apr 30, 2022
2021	$16.58B	$685.00M	24.2×	-15.6×	Apr 30, 2021
2020	$9.63B	$242.00M	39.8×	+23.4×	Apr 30, 2020
2019	$17.85B	$1.09B	16.4×	+7.8×	Apr 30, 2019
2018	$17.64B	$2.07B	8.5×	+4.6×	Apr 30, 2018
2017	$10.84B	$2.78B	3.9×	+1.7×	Apr 30, 2017
2016	$6.46B	$2.88B	2.2×	-1.0×	Apr 30, 2016
2015	$11.19B	$3.41B	3.3×	+0.2×	Apr 30, 2015
2014	$11.76B	$3.79B	3.1×	+0.5×	Apr 30, 2014
2013	$12.51B	$4.72B	2.7×	-0.6×	Apr 30, 2013
2012	$14.11B	$4.36B	3.2×	-1.7×	Apr 30, 2012
2011	$19.18B	$3.84B	5.0×	-0.1×	Apr 30, 2011
2010	$12.98B	$2.53B	5.1×	+1.5×	Apr 30, 2010
2009	$6.06B	$1.66B	3.6×	-1.2×	Apr 30, 2009
2008	$8.28B	$1.70B	4.9×	-2.0×	Apr 30, 2008
2007	$13.73B	$1.99B	6.9×	-0.1×	Apr 30, 2007
2006	$13.52B	$1.92B	7.0×	+1.3×	Apr 30, 2006
2005	$9.50B	$1.66B	5.7×	+0.8×	Apr 30, 2005
2004	$6.94B	$1.42B	4.9×	+0.4×	Apr 30, 2004
2003	$4.49B	$987.36M	4.5×	-2.2×	Apr 30, 2003
2002	$5.80B	$858.48M	6.8×	—	Apr 30, 2002


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P/B Ratio for NetApp (NTAP)

P/B Ratio daily chart for NetApp (NTAP)

Historical P/B Ratio for NetApp (NTAP) from 2002 to 2026

About P/B Ratio at NetApp (NTAP)

NetApp P/B Ratio by Year

NetApp P/B Ratio 2026: 15.9×

NetApp P/B Ratio 2025: 17.5×

NetApp P/B Ratio 2024: 18.4×

NetApp P/B Ratio 2023: 11.7×

NetApp P/B Ratio 2022: 19.4×

Sector peers by P/B Ratio — chart

Sector peers by P/B Ratio — table

Frequently asked questions

NetApp (NTAP) Key Financials

P/B Ratio daily chart for NetApp (NTAP)

Historical P/B Ratio for NetApp (NTAP) from 2002 to 2026

About P/B Ratio at NetApp (NTAP)

NetApp P/B Ratio by Year

NetApp P/B Ratio 2026: 15.9×

NetApp P/B Ratio 2025: 17.5×

NetApp P/B Ratio 2024: 18.4×

NetApp P/B Ratio 2023: 11.7×

NetApp P/B Ratio 2022: 19.4×

Sector peers by P/B Ratio — chart

Sector peers by P/B Ratio — table

Frequently asked questions

+What is NetApp's P/B ratio?

+How is the P/B ratio calculated?

+What is the P/B ratio?

+What is a good P/B ratio for NetApp?

+Is NetApp's P/B ratio high or low?

+What is NetApp's historical P/B ratio range?

+What was NetApp's P/B ratio in 2026?

+Why does NetApp's P/B ratio change over time?

NetApp (NTAP) Key Financials