Question 1

What is NetApp's P/E ratio?

Accepted Answer

NetApp (NTAP) P/E ratio is 26.0× as of July 22, 2026. The ratio is calculated by dividing market capitalisation by trailing twelve-month earnings (net income), using USD-normalised financials (IAS 21 exchange-rate translation for non-USD reporters).

Question 2

How is the P/E ratio calculated?

Accepted Answer

P/E = Share Price ÷ Trailing Twelve-Month (TTM) Diluted EPS, or equivalently Market Capitalisation ÷ TTM Net Income. 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/E ratio?

Accepted Answer

The price-to-earnings (P/E) ratio, also called the earnings multiple, measures how much investors pay per dollar of a company's trailing twelve-month (TTM) earnings. It is calculated as share price ÷ TTM diluted EPS (equivalent to market capitalisation ÷ TTM net income). A higher P/E implies the market is pricing in stronger future earnings growth or lower risk; a lower P/E can signal slower expected growth, higher risk, or potential undervaluation.

Question 4

What is a good P/E ratio for NetApp?

Accepted Answer

There is no universal "good" P/E. As a rule of thumb, the S&P 500 has historically averaged a P/E in the mid-to-high teens; mature, slow-growth businesses commonly trade in the 10–18× range, while high-growth or asset-light companies often trade at 25–50×+. What matters is the comparison to sector peers and to the company's own historical range. For NetApp specifically, the relevant sector benchmark is the current sector median of 29.4×.

Question 5

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

Accepted Answer

NetApp's P/E ratio of 26.0× is above its own 5-year average of 17.8× and below the sector median of 29.4×. That places the current reading at the 89th 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/E ratio range?

Accepted Answer

In the available daily series, NetApp (NTAP) P/E ratio has ranged from a low of 8.7× in 2022 to a high of 1912.4× in 2002. The 5-year average is 17.8× and the 5-year median is 18.5×.

Question 7

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

Accepted Answer

NetApp (NTAP) P/E ratio at the end of 2026 was 16.8×. Annual values reflect the multiple on the last trading day of each calendar year, using the trailing twelve-month earnings figure available at that date.

Question 8

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

Accepted Answer

Valuation multiples move with two inputs: the numerator (market capitalisation, which tracks the share price) and the denominator (earnings). 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	$21.4B	$1.28B	16.8×	+1.4×	Apr 24, 2026
2025	$18.2B	$1.19B	15.4×	-6.0×	Apr 30, 2025
2024	$21.1B	$986M	21.4×	+10.7×	Apr 30, 2024
2023	$13.6B	$1.27B	10.6×	-6.7×	Apr 30, 2023
2022	$16.3B	$937M	17.4×	-5.4×	Apr 30, 2022
2021	$16.6B	$730M	22.7×	+11.0×	Apr 30, 2021
2020	$9.63B	$819M	11.8×	-3.5×	Apr 30, 2020
2019	$17.8B	$1.17B	15.3×	-216.9×	Apr 30, 2019
2018	$17.6B	$76M	232.2×	+210.9×	Apr 30, 2018
2017	$10.8B	$509M	21.3×	-6.9×	Apr 30, 2017
2016	$6.46B	$229M	28.2×	+8.2×	Apr 30, 2016
2015	$11.2B	$560M	20.0×	+1.5×	Apr 30, 2015
2014	$11.8B	$638M	18.4×	-6.3×	Apr 30, 2014
2013	$12.5B	$505M	24.8×	+1.5×	Apr 30, 2013
2012	$14.1B	$605M	23.3×	-6.7×	Apr 30, 2012
2011	$19.2B	$640M	30.0×	-2.4×	Apr 30, 2011
2010	$13B	$400M	32.4×	-37.6×	Apr 30, 2010
2009	$6.06B	$86.5M	70.0×	+43.2×	Apr 30, 2009
2008	$8.28B	$310M	26.7×	-19.4×	Apr 30, 2008
2007	$13.7B	$298M	46.1×	-4.6×	Apr 30, 2007
2006	$13.5B	$266M	50.7×	+8.6×	Apr 30, 2006
2005	$9.5B	$226M	42.1×	-3.6×	Apr 30, 2005
2004	$6.94B	$152M	45.6×	-13.0×	Apr 30, 2004
2003	$4.49B	$76.5M	58.7×	-1853.8×	Apr 30, 2003
2002	$5.8B	$3.03M	1912.4×	—	Apr 30, 2002


Dell Technologies (DELL)	16.2×
Western Digital (WDC)	15.7×
Accenture (ACN)	15.4×
Gartner (IT)	14.9×
CDW (CDW)	14.5×
Adobe (ADBE)	14.4×
Leidos Holdings (LDOS)	14.1×
Zoom Communications (ZM)	13.8×
QUALCOMM (QCOM)	13.7×
PTC (PTC)	13.5×
Paycom Software (PAYC)	13.2×
Elastic N.V. (ESTC)	13.2×
Cognizant (CTSH)	13.1×
First Solar (FSLR)	12.7×
GoDaddy (GDDY)	12.7×
Gen Digital (GEN)	11.7×
Duolingo (DUOL)	10.9×
Super Micro Computer (SMCI)	10.9×
Science Applications International (SAIC)	10.3×
Fiserv (FISV)	9.3×
Fidelity National Information Services (FIS)	9.0×
HP (HPQ)	7.5×
Sunrun (RUN)	5.6×
Lyft (LYFT)	1.8×
IBM (IBM)	0.0×

P/E Ratio for NetApp (NTAP) 2002-2026

P/E Ratio daily chart for NetApp (NTAP)

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

About P/E Ratio at NetApp (NTAP)

NetApp P/E Ratio by Year

NetApp P/E Ratio 2026: 16.8×

NetApp P/E Ratio 2025: 15.4×

NetApp P/E Ratio 2024: 21.4×

NetApp P/E Ratio 2023: 10.6×

NetApp P/E Ratio 2022: 17.4×

Sector peers by P/E Ratio — chart

Sector peers by P/E Ratio — table

Frequently asked questions

NetApp (NTAP) Key Financials