NetApp, Inc. NTAP

NetApp's strongest current fact is the latest filed annual report: for the period ended 2026-04-24, the company reported $6.92B of revenue from contracts with customers, $1.28B of net income attributable to the parent, $1.67B of operating income, and diluted earnings per share of $6.35 in its 10-K. That gives the NTAP file a hard earnings spine before any product language is allowed to enter the room.

NetApp is an equity in a real operating business, not a loose theme. In its 10-Q, the company describes itself as helping customers make data infrastructure more seamless, more dynamic and higher performing. The current product rail supports that identity: the May 28 earnings release names the AI Data Engine co-engineered with NVIDIA, a public preview of Azure NetApp Files Elastic zone-redundant storage, and a Google Cloud storage partner award for infrastructure modernisation work.

The financial rail is unusually full for a daily file. The 10-K for the period ending 2026-04-24 lists assets of $10.74B, liabilities of $9.39B, stockholders' equity attributable to parent of $1.35B, cash and cash equivalents of $2.07B, short-term investments of $1.51B, operating cash flow of $2.07B, property, plant and equipment payments of $198.0M, R&D expense of $991.0M, inventory of $198.0M, and diluted weighted average shares of 201.0M.

The supplied source route is filings and official company release material, not a chart route. That matters because the report can discuss the operating mechanism, filed cash, margins, services, product pressure and named releases, but it cannot claim support levels, moving averages, candle patterns, volume behaviour or valuation without a chart or market-data source in the evidence pack.

What changed on the public rail is a tight run of filings: a May 28 8-K with the fourth-quarter and fiscal-year earnings release, a June 5 10-K, June Form 4 filings, and June Form 144 notices. The 10-K also says net revenues increased 5% in fiscal 2026 compared with fiscal 2025, while gross margin increased by less than one percentage point as services margin gains were partly offset by lower product gross margins.

What remains unproven is just as important. The evidence does not supply current share price, market reaction, valuation, guidance numbers, backlog, customer wins, segment revenue detail beyond the quoted filing language, or adoption data for the AI Data Engine and Azure NetApp Files preview. The useful read is therefore disciplined: NetApp has filed profit, cash generation, a visible product rail, and a margin mix tension, but the market layer needs price and forward-demand evidence before it can be stretched further.