Question 1

What is NetApp's P/S ratio?

Accepted Answer

NetApp (NTAP) P/S ratio is 4.8× as of June 5, 2026. The ratio is calculated by dividing market capitalisation by trailing twelve-month revenue, using USD-normalised financials (IAS 21 exchange-rate translation for non-USD reporters).

Question 2

How is the P/S ratio calculated?

Accepted Answer

P/S = Market Capitalisation ÷ Trailing Twelve-Month (TTM) Revenue, or equivalently Share Price ÷ TTM Revenue 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/S ratio?

Accepted Answer

The price-to-sales (P/S) ratio compares a company's market capitalisation to its trailing twelve-month (TTM) revenue. It is calculated as market cap ÷ TTM revenue (equivalent to share price ÷ TTM revenue per share). Because the denominator (revenue) cannot be negative, P/S is widely used to value unprofitable or pre-profit companies and to make cross-sector comparisons.

Question 4

What is a good P/S ratio for NetApp?

Accepted Answer

A "good" P/S depends heavily on profit margin and growth: software and other high-margin businesses often command 5–15× sales, while low-margin retailers and commodity producers typically trade below 1×. Compare against sector peers rather than absolute thresholds. For NetApp specifically, the relevant sector benchmark is the current sector median of 5.7×.

Question 5

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

Accepted Answer

NetApp's P/S ratio of 4.8× is above its own 5-year average of 3.0× and below the sector median of 5.7×. That places the current reading at the 100th 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/S ratio range?

Accepted Answer

In the available daily series, NetApp (NTAP) P/S ratio has ranged from a low of 1.1× in 2008 to a high of 8.4× in 2003. The 5-year average is 3.0× and the 5-year median is 3.0×.

Question 7

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

Accepted Answer

NetApp (NTAP) P/S ratio at the end of 2026 was 3.1×. Annual values reflect the multiple on the last trading day of each calendar year, using the trailing twelve-month revenue figure available at that date.

Question 8

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

Accepted Answer

Valuation multiples move with two inputs: the numerator (market capitalisation, which tracks the share price) and the denominator (revenue). 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	$6.92B	3.1×	+0.3×	Apr 24, 2026
2025	$18.22B	$6.57B	2.8×	-0.6×	Apr 30, 2025
2024	$21.06B	$6.27B	3.4×	+1.2×	Apr 30, 2024
2023	$13.57B	$6.36B	2.1×	-0.4×	Apr 30, 2023
2022	$16.26B	$6.32B	2.6×	-0.3×	Apr 30, 2022
2021	$16.58B	$5.74B	2.9×	+1.1×	Apr 30, 2021
2020	$9.63B	$5.41B	1.8×	-1.1×	Apr 30, 2020
2019	$17.85B	$6.15B	2.9×	-0.1×	Apr 30, 2019
2018	$17.64B	$5.91B	3.0×	+1.0×	Apr 30, 2018
2017	$10.84B	$5.52B	2.0×	+0.8×	Apr 30, 2017
2016	$6.46B	$5.55B	1.2×	-0.7×	Apr 30, 2016
2015	$11.19B	$6.12B	1.8×	-0.0×	Apr 30, 2015
2014	$11.76B	$6.33B	1.9×	-0.1×	Apr 30, 2014
2013	$12.51B	$6.33B	2.0×	-0.3×	Apr 30, 2013
2012	$14.11B	$6.23B	2.3×	-1.5×	Apr 30, 2012
2011	$19.18B	$5.04B	3.8×	+0.5×	Apr 30, 2011
2010	$12.98B	$3.93B	3.3×	+1.5×	Apr 30, 2010
2009	$6.06B	$3.41B	1.8×	-0.7×	Apr 30, 2009
2008	$8.28B	$3.30B	2.5×	-2.4×	Apr 30, 2008
2007	$13.73B	$2.80B	4.9×	-1.6×	Apr 30, 2007
2006	$13.52B	$2.07B	6.5×	+0.6×	Apr 30, 2006
2005	$9.50B	$1.60B	5.9×	+0.0×	Apr 30, 2005
2004	$6.94B	$1.17B	5.9×	+0.9×	Apr 30, 2004
2003	$4.49B	$892.07M	5.0×	-2.2×	Apr 30, 2003
2002	$5.80B	$798.37M	7.3×	—	Apr 30, 2002


DocuSign (DOCU)	2.7×
Broadridge Financial Solutions (BR)	2.6×
Celestica (CLS)	2.3×
EchoStar (SATS)	2.3×
Gen Digital (GEN)	2.3×
GoDaddy (GDDY)	2.2×
Fidelity National Information Services (FIS)	2.1×
Skyworks Solutions (SWKS)	2.1×
Qorvo (QRVO)	1.9×
Zebra Technologies (ZBRA)	1.8×
Accenture (ACN)	1.8×
Amkor Technology (AMKR)	1.6×
Block (XYZ)	1.5×
Block (SQ)	1.4×
Fiserv (FISV)	1.4×
Cognizant (CTSH)	1.4×
EPAM Systems (EPAM)	1.3×
Dell Technologies (DELL)	1.0×
Hewlett Packard Enterprise (HPE)	1.0×
Jabil (JBL)	0.9×
Lyft (LYFT)	0.8×
CDW (CDW)	0.7×
Science Applications International (SAIC)	0.6×
Super Micro Computer (SMCI)	0.4×
HP (HPQ)	0.3×

P/S Ratio for NetApp (NTAP)

P/S Ratio daily chart for NetApp (NTAP)

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

About P/S Ratio at NetApp (NTAP)

NetApp P/S Ratio by Year

NetApp P/S Ratio 2026: 3.1×

NetApp P/S Ratio 2025: 2.8×

NetApp P/S Ratio 2024: 3.4×

NetApp P/S Ratio 2023: 2.1×

NetApp P/S Ratio 2022: 2.6×

Sector peers by P/S Ratio — chart

Sector peers by P/S Ratio — table

Frequently asked questions

NetApp (NTAP) Key Financials

P/S Ratio daily chart for NetApp (NTAP)

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

About P/S Ratio at NetApp (NTAP)

NetApp P/S Ratio by Year

NetApp P/S Ratio 2026: 3.1×

NetApp P/S Ratio 2025: 2.8×

NetApp P/S Ratio 2024: 3.4×

NetApp P/S Ratio 2023: 2.1×

NetApp P/S Ratio 2022: 2.6×

Sector peers by P/S Ratio — chart

Sector peers by P/S Ratio — table

Frequently asked questions

+What is NetApp's P/S ratio?

+How is the P/S ratio calculated?

+What is the P/S ratio?

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

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

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

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

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

NetApp (NTAP) Key Financials