$20.8 B

NTAP Mkt cap, 16-Aug-2018

$5.9 B

NetApp Revenue FY, 2018
NetApp Gross profit (FY, 2018)3.7 B
NetApp Gross profit margin (FY, 2018), %62.6%
NetApp Net income (FY, 2018)76 M
NetApp EBIT (FY, 2018)1.1 B
NetApp Cash, 27-Apr-20182.9 B
NetApp EV19.4 B

NetApp Revenue

NetApp revenue was $5.91 b in FY, 2018

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NetApp Revenue Breakdown

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NetApp revenue breakdown by geographic segment: 13.0% from APAC, 31.7% from EMEA and 55.3% from Americas

NetApp Income Statement

Annual

USDFY, 2014FY, 2015FY, 2016FY, 2017FY, 2018

Revenue

6.3 b6.1 b5.5 b5.5 b5.9 b

Revenue growth, %

(3%)(9%)0%

Cost of goods sold

2.4 b2.3 b2.2 b2.1 b2.2 b

Gross profit

3.9 b3.8 b3.4 b3.4 b3.7 b

Gross profit Margin, %

62%63%61%61%63%

Sales and marketing expense

1.6 b1.7 b

R&D expense

779 m783 m

General and administrative expense

271 m280 m

Operating expense total

2.7 b2.6 b

EBIT

734.3 m716.5 m348 m665 m1.1 b

EBIT margin, %

12%12%6%12%19%

Pre tax profit

740.7 m712.8 m345 m665 m1.2 b

Income tax expense

103.2 m152.9 m116 m156 m1.1 b

Net Income

637.5 m559.9 m229 m509 m76 m

Quarterly

USDQ2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017Q1, 2018Q2, 2018

Revenue

1.5 b1.6 b1.5 b1.5 b1.6 b1.3 b1.4 b1.4 b1.3 b1.3 b1.4 b1.3 b1.4 b

Cost of goods sold

584.7 m607.7 m551.1 m560 m573.9 m519 m561 m531 m497 m511 m553 m491 m520 m

Gross profit

965.2 m1 b938.1 m982.5 m977.4 m816 m884 m855 m797 m829 m851 m834 m902 m

Gross profit Margin, %

62%62%63%64%63%61%61%62%62%62%61%63%63%

Sales and marketing expense

479.5 m475.9 m480.2 m488 m474.8 m492 m448 m418 m429 m418 m381 m425 m420 m

R&D expense

228.2 m230.3 m228 m229 m229.9 m244 m216 m200 m207 m200 m181 m193 m194 m

General and administrative expense

69.5 m69.4 m70 m73 m70.2 m79 m74 m70 m68 m69 m64 m68 m69 m

Operating expense total

778.3 m775.6 m778.2 m790 m774.9 m842 m739 m690 m704 m687 m668 m686 m683 m

EBIT

186.9 m226.7 m159.9 m192.5 m202.5 m(26 m)145 m165 m93 m142 m183 m148 m219 m

EBIT margin, %

12%14%11%12%13%(2%)10%12%7%11%13%11%15%

Interest expense

6.5 m6.7 m9 m10.9 m11.1 m

Interest income

8.5 m7.9 m8.3 m8.1 m8.6 m

Pre tax profit

192.2 m229.6 m159.7 m188.9 m200.1 m(22 m)144 m163 m92 m142 m183 m153 m225 m

Income tax expense

25.4 m37.5 m71.3 m29.1 m23.3 m8 m30 m10 m28 m33 m37 m17 m50 m

Net Income

166.8 m192.1 m88.4 m159.8 m176.8 m(30 m)114 m153 m64 m109 m146 m136 m175 m

NetApp Balance Sheet

Annual

USDFY, 2014FY, 2015FY, 2016FY, 2017FY, 2018

Cash

2.3 b1.9 b2.9 b2.4 b2.9 b

Accounts Receivable

778.9 m813 m731 m1 b

Inventories

122.4 m146.5 m98 m163 m126 m

Current Assets

6.5 b6.8 b6.4 b6.2 b6.9 b

PP&E

1.1 b1 b937 m799 m756 m

Goodwill

988.1 m1 b1.7 b1.7 b1.7 b

Total Assets

9.2 b9.4 b10 b9.5 b9.9 b

Accounts Payable

247 m283.4 m254 m347 m609 m

Short-term debt

849 m749 m

Current Liabilities

2.7 b2.7 b3.7 b4.1 b3.6 b

Long-term debt

995.5 m1.5 b1.5 b744 m1.5 b

Total Debt

995.5 m1.5 b2.3 b1.5 b1.5 b

Total Liabilities

6.7 b7.8 b

Additional Paid-in Capital

3.8 b3.4 b2.9 b

Retained Earnings

1.1 m53.2 m40 m(218 m)

Total Equity

3.8 b3.4 b2.9 b2.8 b2.1 b

Debt to Equity Ratio

0.3 x0.4 x0.8 x0.5 x

Debt to Assets Ratio

0.1 x0.2 x0.2 x0.2 x

Financial Leverage

2.4 x2.8 x3.5 x3.4 x4.8 x

Quarterly

USDQ2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017Q1, 2018Q2, 2018

Cash

2.3 b2.2 b3 b2.9 b2.5 b2.3 b2.2 b2.5 b2.3 b2.1 b2.2 b3 b3.5 b

Accounts Receivable

415 m587 m585 m501 m547 m605 m518 m584 m

Inventories

115.9 m118.2 m104.2 m107.6 m117.8 m193 m125 m102 m81 m97 m125 m143 m108 m

Current Assets

6.4 b6.2 b6.7 b6.5 b6.6 b6.1 b6.1 b6.1 b5.2 b5.2 b5.6 b6.3 b7 b

PP&E

1.1 b1.1 b1.1 b1.1 b1.1 b1 b1 b873 m942 m949 m892 m799 m795 m

Goodwill

988.1 m988.1 m988.1 m988.1 m1 b1 b1 b1 b1.7 b1.7 b1.7 b1.7 b1.7 b

Total Assets

9.2 b9 b9.5 b9.2 b9.2 b8.7 b8.6 b8.8 b8.8 b8.8 b9.1 b9.6 b10.3 b

Accounts Payable

223.8 m186.6 m183.1 m210.3 m194.2 m249 m226 m175 m239 m253 m258 m289 m379 m

Short-term debt

748 m749 m750 m

Current Liabilities

2.4 b2.4 b2.4 b2.5 b2.5 b2.5 b2.5 b2.5 b2.5 b2.5 b3.8 b4.3 b4.2 b

Long-term debt

995 m995.2 m1.5 b1.5 b1.5 b1.5 b1.5 b1.5 b1.5 b1.5 b744 m745 m1.5 b

Total Debt

995 m995.2 m1.5 b1.5 b1.5 b1.5 b1.5 b1.5 b1.5 b1.5 b1.5 b1.5 b2.3 b

Total Liabilities

5.1 b5.1 b5.6 b5.7 b5.7 b5.7 b5.6 b5.7 b6 b6 b6.4 b6.8 b7.5 b

Additional Paid-in Capital

4 b3.9 b3.8 b3.5 b3.5 b

Retained Earnings

115.5 m36.1 m69.8 m(31 m)51 m10 m17 m

Total Equity

4.1 b3.9 b3.8 b3.5 b3.5 b3 b3 b3.1 b2.8 b2.8 b2.7 b2.8 b2.8 b

Debt to Equity Ratio

0.8 x

Debt to Assets Ratio

0.2 x

Financial Leverage

2.2 x2.3 x2.5 x2.7 x2.6 x2.9 x2.9 x2.8 x3.1 x3.1 x3.4 x3.5 x3.7 x

NetApp Cash Flow

Annual

USDFY, 2014FY, 2015FY, 2016FY, 2017FY, 2018

Net Income

637.5 m559.9 m229 m509 m76 m

Depreciation and Amortization

226 m198 m

Accounts Receivable

(56.6 m)74.8 m(16 m)81 m(272 m)

Inventories

17 m(24.1 m)49 m(65 m)37 m

Accounts Payable

(12.1 m)38.6 m(53 m)94 m262 m

Cash From Operating Activities

1.3 b1.3 b974 m986 m1.5 b

Purchases of PP&E

(221.4 m)(175.3 m)(160 m)(175 m)(145 m)

Cash From Investing Activities

760.4 m(903.2 m)85 m(220 m)(21 m)

Long-term Borrowings

(750 m)

Dividends Paid

(202.3 m)(207.4 m)(210 m)(208 m)(214 m)

Cash From Financing Activities

(3.1 b)(675.2 m)(109 m)(1.2 b)(986 m)

Quarterly

USDQ2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017

Net Income

166.8 m192.1 m88.4 m159.8 m176.8 m(30 m)114 m153 m64 m109 m146 m

Accounts Receivable

415 m587 m585 m501 m547 m605 m

Inventories

104.2 m107.6 m117.8 m193 m125 m102 m81 m97 m125 m

Accounts Payable

183.1 m210.3 m194.2 m249 m226 m175 m239 m253 m258 m

NetApp Ratios

USDY, 2018

EV/EBIT

17.2 x

EV/CFO

13.1 x

Revenue/Employee

585.2 k

Financial Leverage

4.8 x
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NetApp Operating Metrics

FY, 2014FY, 2015FY, 2016FY, 2017

Patent Applications

660 680 680 640

Patents (US)

1.58 k1.75 k1.90 k2.10 k
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