NetApp, Inc. (NTAP) Balance Sheet
NTAP balance sheet, FY2026
April 30, 2026 · U.S. dollars$10.74B assets = $9.39B liabilities + $1.35B equity
Both columns are drawn to the same scale: what NTAP owns equals what it owes plus shareholders’ equity. Hover a block for its value.
NTAP financial health
Current ratio1.44
Adequate · current assets cover current liabilities 1.44×
Debt / equity2.02
High leverage · $2.02 of debt for each $1 of equity
Equity / assets12.6%
Thin equity · of assets funded by shareholders
Cash / debt131.1%
Cash covers debt · cash & short-term investments vs total debt
Goodwill & intangibles26.0%
Acquisition-heavy · of total assets
Descriptive bands, not a rating. Fiscal FY2026.
NTAP balance sheet trends, FY2017–FY2026
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $9.49BFY2017 | $10.74BFY2026 | +1.4%/yr | |
| Total liabilities | $6.71BFY2017 | $9.39BFY2026 | +3.8%/yr | |
| Shareholders’ equity | $2.78BFY2017 | $1.35BFY2026 | −7.7%/yr | |
| Cash & short-term investments | $4.92BFY2017 | $3.58BFY2026 | −3.5%/yr | |
| Total debt | $2.12BFY2017 | $2.73BFY2026 | +2.8%/yr | |
| Net cash (debt) | $2.80BFY2017 | $851.0MFY2026 | −$1.9B | |
| Working capital | $2.16BFY2017 | $1.75BFY2026 | −$404.0M | |
| Book value per share | $9.89FY2017 | $6.79FY2026 | −4.1%/yr | |
| Current ratio | 1.53FY2017 | 1.44FY2026 | −0.10 | |
| Debt / equity | 0.76FY2017 | 2.02FY2026 | +1.26 | |
| Shares outstanding | 281.0MFY2017 | 199.0MFY2026 | −3.8%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
NTAP assets
Cash & ST investmentsReceivablesInventoryOther currentPP&EGoodwill & intangiblesLT investmentsOther non-current
NTAP liabilities and equity
Current liabilitiesLong-term debtOther long-term liabilitiesEquity
NTAP debt vs cash
Total debtCash & ST investmentsNet cash (debt)
Debt includes short- and long-term borrowings and, where reported, lease obligations.
NTAP balance sheet
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $3.58B | $3.85B | $3.25B | $3.07B | $4.13B | $4.60B | $2.88B | $3.90B | $5.39B | $4.92B |
| Cash & equivalents | $2.07B | $2.74B | $1.90B | $2.32B | $4.11B | $4.60B | $2.66B | $2.33B | $2.94B | $2.44B |
| Short-term investments | $1.51B | $1.10B | $1.35B | $754.0M | $22.0M | $67.0M | $224.0M | $1.57B | $2.45B | $2.48B |
| Receivables | $1.29B | $1.25B | $1.01B | $987.0M | $1.23B | $945.0M | $973.0M | $1.22B | $1.05B | $731.0M |
| Inventory | $198.0M | $186.0M | $186.0M | $167.0M | $204.0M | $114.0M | $145.0M | $131.0M | $126.0M | $163.0M |
| Other current assets | $708.0M | $573.0M | $452.0M | $456.0M | $377.0M | $346.0M | $274.0M | $364.0M | $292.0M | $383.0M |
| Total current assets | $5.78B | $5.85B | $4.90B | $4.68B | $5.95B | $6.00B | $4.27B | $5.61B | $6.86B | $6.20B |
| Property, plant & equipment (net) | $820.0M | $804.0M | $851.0M | $650.0M | $896.0M | $525.0M | $864.0M | $759.0M | $756.0M | $799.0M |
| Goodwill & intangible assets | $2.79B | $2.77B | $2.88B | $2.94B | $2.49B | $2.14B | $1.82B | $1.78B | $1.83B | $1.81B |
| Long-term investments | $98.0M | $92.0M | $85.0M | $0 | $0 | $0 | $0 | $29.0M | $25.0M | $24.0M |
| Other non-current assets | $1.26B | $1.31B | $1.17B | $1.55B | $697.0M | $694.0M | $562.0M | $561.0M | $395.0M | $657.0M |
| Total assets | $10.74B | $10.82B | $9.89B | $9.82B | $10.03B | $9.36B | $7.52B | $8.74B | $9.87B | $9.49B |
| Liabilities | ||||||||||
| Accounts payable | $550.0M | $511.0M | $517.0M | $392.0M | $607.0M | $420.0M | $426.0M | $542.0M | $609.0M | $347.0M |
| Short-term debt | $42.0M | $790.0M | $440.0M | $47.0M | $297.0M | $49.0M | $573.0M | $649.0M | $385.0M | $1.38B |
| Deferred revenue | $2.32B | $2.28B | $2.18B | $2.22B | $2.17B | $2.06B | $1.89B | $1.82B | $1.80B | $1.66B |
| Total current liabilities | $4.02B | $4.66B | $4.11B | $3.47B | $3.95B | $3.45B | $3.62B | $3.87B | $3.62B | $4.04B |
| Long-term debt | $2.49B | $2.48B | $1.99B | $2.39B | $2.39B | $2.63B | $1.15B | $1.14B | $1.54B | $744.0M |
| Lease obligations | $246.0M | $256.0M | $260.0M | $295.0M | $304.0M | $120.0M | $144.0M | — | $0 | $130.0M |
| Other long-term liabilities | $2.88B | $2.64B | $2.64B | $2.80B | $2.85B | $2.59B | $2.52B | $2.64B | $2.63B | $1.93B |
| Total liabilities | $9.39B | $9.78B | $8.74B | $8.66B | $9.19B | $8.68B | $7.28B | $7.65B | $7.80B | $6.71B |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $1.21B | $1.11B | $997.0M | $945.0M | $760.0M | $685.0M | $284.0M | $1.13B | $2.35B | $2.77B |
| Retained earnings (deficit) | $153.0M | $0 | $208.0M | $265.0M | $122.0M | $211.0M | $0 | $0 | −$218.0M | $40.0M |
| Treasury stock | — | — | — | — | — | — | — | — | $0 | $0 |
| Accumulated other comprehensive income | −$11.0M | −$66.0M | −$59.0M | −$51.0M | −$44.0M | −$30.0M | −$42.0M | −$43.0M | −$70.0M | −$29.0M |
| Minority interest | — | — | — | — | — | — | — | — | $0 | $0 |
| Total shareholders' equity | $1.35B | $1.04B | $1.15B | $1.16B | $838.0M | $685.0M | $242.0M | $1.09B | $2.07B | $2.78B |
| Key figures | ||||||||||
| Total debt | $2.73B | $3.49B | $2.65B | $2.44B | $2.94B | $2.68B | $1.81B | $1.79B | $1.93B | $2.12B |
| Net cash (debt) | $851.0M | $355.0M | $600.0M | $634.0M | $1.19B | $1.92B | $1.07B | $2.11B | $3.46B | $2.80B |
| Working capital | $1.75B | $1.19B | $791.0M | $1.21B | $1.99B | $2.55B | $658.0M | $1.74B | $3.23B | $2.16B |
| Tangible book value | −$1.44B | −$1.73B | −$1.74B | −$1.78B | −$1.65B | −$1.46B | −$1.58B | −$692.0M | $234.0M | $965.0M |
| Book value per share | $6.79 | $4.98 | $5.38 | $5.27 | $3.66 | $3.03 | $1.04 | $4.21 | $7.49 | $9.89 |
| Shares outstanding | 199.0M | 209.0M | 213.0M | 220.0M | 229.0M | 226.0M | 233.0M | 259.0M | 276.0M | 281.0M |
| Current ratio | 1.44 | 1.26 | 1.19 | 1.35 | 1.50 | 1.74 | 1.18 | 1.45 | 1.89 | 1.53 |
| Quick ratio | 1.21 | 1.09 | 1.04 | 1.17 | 1.36 | 1.61 | 1.07 | 1.32 | 1.78 | 1.40 |
| Debt / equity | 2.02 | 3.36 | 2.31 | 2.10 | 3.51 | 3.91 | 7.49 | 1.64 | 0.93 | 0.76 |
| Equity / assets | 12.6% | 9.6% | 11.6% | 11.8% | 8.4% | 7.3% | 3.2% | 12.5% | 21.0% | 29.3% |
| Jul '26 | Apr '26 | Jan '26 | Oct '25 | Jul '25 | Apr '25 | Jan '25 | Oct '24 | Jul '24 | Apr '24 | Jan '24 | Oct '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | $3.58B | $3.58B | $3.02B | $3.01B | $3.32B | $3.85B | $2.26B | $2.22B | $3.02B | $3.25B | $2.92B | $2.62B |
| Cash & equivalents | $1.57B | $2.07B | $1.63B | $2.07B | $2.08B | $2.74B | $1.51B | $1.48B | $1.65B | $1.90B | $1.82B | $1.93B |
| Short-term investments | $2.00B | $1.51B | $1.39B | $942.0M | $1.24B | $1.10B | $750.0M | $744.0M | $1.36B | $1.35B | $1.10B | $686.0M |
| Receivables | $966.0M | $1.29B | $1.31B | $988.0M | $787.0M | $1.25B | $898.0M | $873.0M | $679.0M | $1.01B | $787.0M | $787.0M |
| Inventory | $375.0M | $198.0M | $109.0M | $127.0M | $133.0M | $186.0M | $268.0M | $317.0M | $214.0M | $186.0M | $131.0M | $122.0M |
| Other current assets | $755.0M | $708.0M | $495.0M | $525.0M | $443.0M | $573.0M | $481.0M | $527.0M | $411.0M | $452.0M | $492.0M | $464.0M |
| Total current assets | $5.67B | $5.78B | $4.93B | $4.65B | $4.69B | $5.85B | $3.91B | $3.94B | $4.32B | $4.90B | $4.33B | $3.99B |
| Property, plant & equipment (net) | $663.0M | $820.0M | $807.0M | $804.0M | $814.0M | $804.0M | $809.0M | $835.0M | $835.0M | $851.0M | $859.0M | $883.0M |
| Goodwill & intangible assets | $2.95B | $2.79B | $2.78B | $2.76B | $2.77B | $2.77B | $2.77B | $2.85B | $2.87B | $2.88B | $2.90B | $2.91B |
| Long-term investments | $0 | $98.0M | $0 | $94.0M | $93.0M | $92.0M | $0 | $0 | $0 | $85.0M | $0 | $0 |
| Other non-current assets | $1.67B | $1.26B | $1.45B | $1.32B | $1.31B | $1.31B | $1.50B | $1.38B | $1.29B | $1.17B | $1.29B | $1.29B |
| Total assets | $10.96B | $10.74B | $9.97B | $9.63B | $9.68B | $10.82B | $8.99B | $9.00B | $9.31B | $9.89B | $9.37B | $9.07B |
| Liabilities | ||||||||||||
| Accounts payable | $566.0M | $550.0M | $413.0M | $436.0M | $404.0M | $511.0M | $434.0M | $554.0M | $437.0M | $517.0M | $396.0M | $411.0M |
| Short-term debt | $596.0M | $42.0M | $41.0M | $42.0M | $41.0M | $790.0M | $791.0M | $790.0M | $1.19B | $440.0M | $440.0M | $441.0M |
| Deferred revenue | $2.25B | $2.32B | $2.27B | $2.14B | $2.27B | $2.28B | $2.07B | $2.04B | $2.13B | $2.18B | $2.09B | $2.00B |
| Total current liabilities | $4.57B | $4.02B | $3.59B | $3.47B | $3.57B | $4.66B | $4.20B | $4.32B | $4.51B | $4.11B | $3.77B | $3.73B |
| Long-term debt | $1.94B | $2.49B | $2.49B | $2.49B | $2.48B | $2.48B | $1.24B | $1.24B | $1.24B | $1.99B | $1.99B | $1.99B |
| Lease obligations | $46.0M | $246.0M | $248.0M | $253.0M | $260.0M | $256.0M | $256.0M | $257.0M | $255.0M | $260.0M | $265.0M | $271.0M |
| Other long-term liabilities | $2.95B | $2.88B | $2.73B | $2.69B | $2.65B | $2.64B | $2.56B | $2.55B | $2.63B | $2.64B | $2.62B | $2.58B |
| Total liabilities | $9.46B | $9.39B | $8.81B | $8.64B | $8.70B | $9.78B | $7.99B | $8.11B | $8.38B | $8.74B | $8.38B | $8.30B |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $1.28B | $1.21B | $1.15B | $1.04B | $1.01B | $1.11B | $1.06B | $947.0M | $988.0M | $997.0M | $934.0M | $825.0M |
| Retained earnings (deficit) | $235.0M | $153.0M | $40.0M | $0 | $0 | $0 | $0 | $0 | $0 | $208.0M | $115.0M | $0 |
| Accumulated other comprehensive income | −$21.0M | −$11.0M | −$29.0M | −$50.0M | −$40.0M | −$66.0M | −$65.0M | −$55.0M | −$59.0M | −$59.0M | −$55.0M | −$55.0M |
| Total shareholders' equity | $1.50B | $1.35B | $1.16B | $986.0M | $975.0M | $1.04B | $995.0M | $892.0M | $929.0M | $1.15B | $994.0M | $770.0M |
| Key figures | ||||||||||||
| Total debt | $2.53B | $2.73B | $2.73B | $2.74B | $2.75B | $3.49B | $2.25B | $2.25B | $2.65B | $2.65B | $2.66B | $2.66B |
| Net cash (debt) | $1.04B | $851.0M | $281.0M | $275.0M | $579.0M | $355.0M | $11.0M | −$28.0M | $369.0M | $600.0M | $261.0M | −$42.0M |
| Working capital | $1.10B | $1.75B | $1.34B | $1.18B | $1.12B | $1.19B | −$287.0M | −$378.0M | −$191.0M | $791.0M | $562.0M | $260.0M |
| Tangible book value | −$1.46B | −$1.44B | −$1.62B | −$1.78B | −$1.80B | −$1.73B | −$1.78B | −$1.96B | −$1.94B | −$1.74B | −$1.90B | −$2.14B |
| Book value per share | $7.47 | $6.79 | $5.79 | $4.88 | $4.80 | $5.05 | $4.78 | $4.25 | $4.38 | $5.41 | $4.71 | $3.65 |
| Shares outstanding | 200.0M | 199.0M | 200.0M | 202.0M | 203.0M | 206.0M | 208.0M | 210.0M | 212.0M | 212.0M | 211.0M | 211.0M |
| Current ratio | 1.24 | 1.44 | 1.37 | 1.34 | 1.31 | 1.26 | 0.93 | 0.91 | 0.96 | 1.19 | 1.15 | 1.07 |
| Quick ratio | 0.99 | 1.21 | 1.20 | 1.15 | 1.15 | 1.09 | 0.75 | 0.72 | 0.82 | 1.04 | 0.98 | 0.91 |
| Debt / equity | 1.69 | 2.02 | 2.36 | 2.78 | 2.82 | 3.36 | 2.26 | 2.52 | 2.85 | 2.31 | 2.67 | 3.46 |
| Equity / assets | 13.6% | 12.6% | 11.6% | 10.2% | 10.1% | 9.6% | 11.1% | 9.9% | 10.0% | 11.6% | 10.6% | 8.5% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed June 5, 2026); data from EODHD.
NTAP financial position
At the end of fiscal 2026 (April 30, 2026), NetApp had total assets of $10.7 billion (down 0.7% from a year earlier), total liabilities of $9.4 billion and shareholders' equity of $1.4 billion. It held $3.6 billion in cash and short-term investments against $2.7 billion of debt, a net cash position of $851.0 million. Its current ratio was 1.44. In the latest quarter (ended July 31, 2026) total assets were $11.0 billion and equity $1.5 billion.
Related: NTAP income statement, NTAP cash flow statement, NTAP key metrics. See the NTAP stock overview for the latest quote and news.
NTAP balance sheet FAQ
What are NetApp's total assets?
NetApp reported total assets of $10.7 billion at the end of fiscal 2026 (April 30, 2026), compared with $10.8 billion a year earlier.
How much debt does NetApp have?
NetApp had $2.7 billion of total debt at the end of fiscal 2026, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 2.02.
How much cash does NetApp have?
NetApp held $3.6 billion in cash and short-term investments at the end of fiscal 2026; with $2.7 billion of debt that is net cash of $851.0 million.
What is NetApp's book value?
NetApp's shareholders' equity (book value) was $1.4 billion at the end of fiscal 2026, or $6.79 per share.
What is NetApp's current ratio?
NetApp had current assets of $5.8 billion and current liabilities of $4.0 billion, a current ratio of 1.44 (it can cover its short-term obligations).
How much goodwill does NetApp have?
NetApp carried $2.8 billion of goodwill and intangible assets, 26.0% of total assets, at the end of fiscal 2026.