Start with its own history
At 23.59×, NTAP is 40.2% below its 10-observation annual average. A lower multiple can reflect a lower price, higher earnings, or weaker growth expectations—not necessarily a bargain.
NASDAQ · NTAPComputer HardwareUpdated Nov 2, 2026
NetApp, Inc. P/E ratio
Current valuation, historical context, and peer comparisons.
Current P/E ratio
23.59×
40.2% belowthe 10-year annual average
Share price192.27
÷Earnings per share8.15
Price and EPS in quote currency. Calculation details
Investors are paying 23.59 for every 1 of reported earnings per share.
P/E over time
2017 – 2026
Annual P/ESelected-period average 39.45×
3-year average17.84×3 positive annual observations
5-year average16.33×5 positive annual observations
10-year average39.45×10 positive annual observations
Peer median · TTM22.71×8 peers with positive P/E
Historical P/E ratios
Annual period-end data · 25 observations
| Period end | P/E | Change |
|---|---|---|
| Apr 24, 2026 | 16.91× | +11.1% |
| Apr 25, 2025 | 15.22× | -28.8% |
| Apr 26, 2024 | 21.38× | +99.5% |
| Apr 28, 2023 | 10.71× | -38.6% |
| Apr 29, 2022 | 17.44× | -23.2% |
| Apr 30, 2021 | 22.70× | +84.6% |
| Apr 30, 2020 | 12.29× | -21.3% |
| Apr 26, 2019 | 15.63× | -93.5% |
View all 25 annual observations +
| Period end | P/E | Change |
|---|---|---|
| Apr 27, 2018 | 240.71× | +1017.5% |
| Apr 28, 2017 | 21.54× | -28.9% |
| Apr 29, 2016 | 30.31× | +48.0% |
| Apr 30, 2015 | 20.48× | +9.4% |
| Apr 25, 2014 | 18.72× | -24.9% |
| Apr 26, 2013 | 24.91× | +5.9% |
| Apr 27, 2012 | 23.51× | -15.6% |
| Apr 29, 2011 | 27.87× | -5.2% |
| Apr 30, 2010 | 29.38× | -67.9% |
| Apr 30, 2009 | 91.50× | +232.7% |
| Apr 30, 2008 | 27.50× | -40.9% |
| Apr 30, 2007 | 46.51× | -7.9% |
| Apr 30, 2006 | 50.50× | +19.3% |
| Apr 30, 2005 | 42.33× | +0.1% |
| Apr 30, 2004 | 42.30× | -26.6% |
| Apr 30, 2003 | 57.65× | -96.7% |
| Apr 30, 2002 | 1745.00× | N/M |
Change is relative to the preceding observation. N/M values are excluded from averages.
How NTAP compares
Company P/E vs. peer trailing-12-month ratios
| Company | P/E ratio |
|---|---|
 NTAP This stockNetApp, Inc. | 23.59× |
 NTNXNutanix, Inc. | 11.88× |
 DELLDell Technologies Inc. | 23.73× |
 HPEHewlett Packard Enterprise Company | 26.93× |
 STXSeagate Technology Holdings plc | 31.26× |
 WDCWestern Digital Corporation | 12.33× |
 CVLTCommvault Systems, Inc. | 81.74× |
 ORCLOracle Corporation | 19.08× |
 IBMInternational Business Machines Corporation | 21.69× |
Peers are selected by the data provider. Business models and earnings definitions can differ.
Put the numbers in context
What does NTAP’s P/E tell you?
Compare like with like
The median of the 8 positive peer ratios above is 22.71×. Check growth, margins, debt, and earnings quality before interpreting the gap. A faster-growing business may justify a higher multiple.
Check what drives earnings
One-off gains can temporarily lower P/E; unusual charges can raise it. Reported earnings and forward estimates answer different questions. Pair this view with return on equity and liquidity for a fuller picture.
Keep your research connected
Take NTAP into your spreadsheet
Pull historical P/E into Excel or Google Sheets with Wisesheets. Build your own comparisons alongside the rest of your financial model.
Explore WisesheetsQuarterly P/E · latest quarterLQ selects the latest reported quarter. Requires the Wisesheets add-in. See available data
=WISE("NTAP", "PE Ratio", "LQ")Sources & calculation methodology
Current P/E
Share price 192.27 ÷ EPS 8.15 = 23.59×. Data is supplied by Financial Modeling Prep through Wisesheets. Quote feed updated Nov 2, 2026; this is not a real-time trading quote.
History & averages
Annual and quarterly P/E observations are provided separately from the current quote. Averages use the latest 3, 5, or 10 annual observations, excluding missing and nonpositive ratios. Pre-IPO observations are omitted. These are period-end observations, not daily averages.
Data definitions and limitations
The current quote feed does not specify the exact EPS filing-period end or whether EPS is basic or diluted. We do not label it as forward P/E. Peer ratios are explicitly trailing-12-month (TTM) values. Historical observations do not include independently verified price and EPS inputs. Sources may update on different schedules; rounded inputs can produce small calculation differences. Historical comparisons describe past pricing, not an estimate of fair value.
NTAP P/E ratio: common questions
The essentials behind the numbers.
NetApp, Inc.'s current P/E is 23.59× based on the quote data last updated Nov 2, 2026. It represents the share price divided by reported earnings per share. Prices and earnings may refresh on different schedules.
Annual P/E uses earnings for a completed fiscal year. Trailing-12-month (TTM) P/E uses the latest four quarters, while forward P/E uses forecast earnings. These are not interchangeable. This page labels peer ratios as TTM and shows dated annual or quarterly historical observations; it does not show forward estimates.
N/M means not meaningful: the feed has no positive P/E for that observation. Negative or zero earnings should not be ranked as a low positive valuation multiple. N/M observations are excluded from the averages shown above.
Divide the share price by earnings per share (EPS). For example, a share price of 100 and EPS of 5 gives a P/E of 20×. This page uses the price and EPS supplied together in the quote when both are positive.
Price timestamps, EPS definitions, share classes, adjustments, and fiscal periods can differ. A forward P/E also uses forecast earnings rather than reported earnings. Compare the inputs and as-of dates before comparing two displayed ratios.
Not necessarily. The average describes previous market pricing, not fair value. Changes in earnings quality, growth expectations, debt, accounting, and business risk can justify a different multiple today.