NetApp Inc (NTAP) fair value: what the stock is really worth
We calculate from audited financials what NetApp Inc is really worth. The fair value tells you whether the price is too high or too low, the quality score (0 to 100) how solid the business behind it is. 26 models, 37 quality factors, updated daily.
- Fair value above price? No
- Good quality? Yes
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NetApp Inc
NTAP · USGreat Company, Expensive PriceHigh Quality, but the stock trades above estimated Fair Value.
What runs behind every stock
69 individual criteria per stock, every one traceable See the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 18, 2026.
How to read this chart
60‑month range $53.65 – $207.08 · fair‑value band $99.82 – $217.71 · the $198.15 price screens above the $154.83 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 1 fiscal year is left out: there the valuation rested on only a fraction of the usual models. Dashed = 300-day average. As of Sep 18, 2026.
Company profile
NetApp, Inc. provides a range of enterprise software, systems, and services that customers use to transform their data infrastructures in the United States, Canada, Latin America, Europe, the Middle East, Africa, and the Asia Pacific. It operates through two segments, Hybrid Cloud and Public Cloud.
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NetApp, Inc. provides a range of enterprise software, systems, and services that customers use to transform their data infrastructures in the United States, Canada, Latin America, Europe, the Middle East, Africa, and the Asia Pacific. It operates through two segments, Hybrid Cloud and Public Cloud. The company offers data management software, such as NetApp ONTAP, ONTAP One, NetApp Snapshot, NetApp SnapCenter Backup Management, NetApp SnapMirror Data Replication, and NetApp SnapLock Data Compliance; and storage infrastructure solutions, including NetApp All-Flash FAS (AFF A-Series), NetApp All-Flash FAS with capacity flash (AFF C-Series), NetApp All-Flash SAN Array (ASA A-Series & C-Series), NetApp Fabric Attached Storage (FAS), NetApp E/EF series, and NetApp StorageGRID. It also provides cloud storage services comprising NetApp Cloud Volumes ONTAP, Azure NetApp Files, Amazon FSx for NetApp ONTAP, and Google Cloud NetApp Volumes, as well as NetApp BlueXP, BlueXP Copy and Sync, BlueXP Backup and Recovery, BlueXP Classification, and BlueXP Ransomware Protection. In addition, the company offers operational services, such as NetApp Data Infrastructure Insights and Instaclustr; and professional and support services offerings include storage-as-a-service (STaaS), strategic consulting, professional, managed, and support services, as well as assessment, design, implementation, migration, and proactive support services to help customers optimize the performance and efficiency of their on-premises and hybrid multicloud storage environments. It serves various industries comprising energy, financial services, government, technology, internet, life sciences, healthcare services, manufacturing, media, entertainment, animation, video postproduction, and telecommunications through a direct sales force and an ecosystem of partners, including the leading cloud providers. The company has a strategic alliance with Commvault Systems, Inc. to develop an integrated solution for enterprise data protection and cyber resilience. NetApp, I
Stock analysis
NetApp Inc (NTAP) currently trades at $198.15, while our model-based Fair Value estimate is $154.83, implying the stock looks roughly 28.0% overvalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of $169.73 per share, and 1 of the 24 models we run sit above the $198.15 price.
Bear case: the Earnings-Based group reads lowest at $46.63, and 23 of the 24 models stay below the price. Evidence for this calculation is high.
Scenario range: $99.82 (bear) to $217.71 (bull), the price of $198.15 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 80/100 (high quality), in the Technology sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
NetApp Inc reported revenue of $6.9B in FY2026 versus $6.3B in FY2022, a compound +2.3%/yr. Reported net income was $1.3B in FY2026, compounding +8.0%/yr from FY2022.
Key figures
Market cap $39.4B · P/E ratio 31.2 · P/S ratio 5.75 · EPS (TTM) $6.35 · Dividend yield 1.0% · Net margin 18.4% · Return on equity 107% · Return on assets (EBIT) 12.5%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 55 out of 100 (medium confidence).
What moves the price
The share trades near its 52-week high and 113% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Technology peers we cover trades at −16% fair-value upside, at −22%, NTAP screens richer than that median.
Fair Value models
All 24 models by family
Notify me when NTAP reaches fair value
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Set up alert →Quality Score breakdown
Of which business quality 76 · Market factors (momentum, volatility) 77
Revenue & earnings trend
Growth Forecast
NTAP screens 28% overvalued. Compare with Microsoft Corporation →
Recent news
- Should You Buy NetApp Stock For The Shares It Keeps Retiring?
- Are You Looking for a Top Momentum Pick? Why NetApp (NTAP) is a Great Choice
Compare NetApp Inc with another stock
Price, fair value, quality and upside side by side.
Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Software - Infrastructure · 376 stocks
Valuation Multiplesvs Software - Infrastructure median · lower = cheaper
Strength profile in five axes (Snowflake)
Context: sector, industry, market
- Is the Information Technology sector expensive or cheap?
- P/E, EV/EBITDA and margins by industry (reference tables)
- Undervalued stocks: US Stocks
- Valuation of the USA market
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Software - Infrastructure stocks, each showing price versus our Fair Value estimate.
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Microsoft Corporation MSFT | $493.48 | $542.83 | +10% |
| Oracle Corporation ORCL | $140.35 | $117.84 | −16% |
| Palantir Technologies Inc PLTR | $172.56 | $42.96 | −75% |
| Palo Alto Networks, Inc PANW | $375.09 | $114.50 | −69% |
| CrowdStrike Holdings CRWD | $242.49 | $34.64 | −86% |
| Fortinet, Inc FTNT | $172.37 | $164.92 | −4% |
| Synopsys, Inc SNPS | $378.47 | $177.06 | −53% |
| Block, Inc XYZ | A$109.44 | A$141.48 | +29% |
| CoreWeave, Inc CRWV | $83.35 | $71.79 | −14% |
| Twilio Inc TWLO | $238.88 | $59.44 | −75% |
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Key figures of NetApp Inc
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