Earnings Review · 02 September 2026
NetApp After the Print: How It Reads Through Our Screen.
The print
Revenue $1.95B vs $2.12 expected.
Did the flow confirm the move?
Underlying money flow is negative: sellers in control on balance going in.
Give the business its due
The business itself is genuinely strong: revenue growing about 12%, net margins near 18%, a moderate competitive moat.
The valuation lens
Our framework labels the valuation D. Fair value lands near $210 against a $192 share price, a margin of safety of about 9%. The trailing multiple sits around 30 times earnings, which only makes sense if the growth holds.
The ethical lens, our differentiator
Screens compliant (both standards agree). A name values-conscious investors can weigh on the merits.
The compliant alternative
There is no direct compliant equivalent in the same industry on our screen, the honest answer is to screen a step wider rather than reach for a false substitute.
The verdict for a values-conscious investor
It clears the screen; size it to your own risk and conviction. We do not confuse a strong quarter with a suitable holding.
This is analysis, not financial advice. Always manage your risk.
