Projected Income Statement: NetApp, Inc.

Forecast Balance Sheet: NetApp, Inc.

Fiscal Period: April 2022 2023 2024 2025 2026 2027 2028 2029
Net Debt 1 -1,498 -681 -860 -611 -1,097 -1,596 -2,291 -2,688
Change - 54.54% -26.28% 28.95% -79.54% -45.49% -43.55% -17.33%
Announcement Date 01/06/22 31/05/23 30/05/24 29/05/25 28/05/26 - - -
1USD in Million
Estimates

Cash Flow Forecast: NetApp, Inc.

Fiscal Period: April 2022 2023 2024 2025 2026 2027 2028 2029
CAPEX 1 226 239 155 168 198 207.3 211.7 227.9
Change - 5.75% -35.15% 8.39% 17.86% 4.69% 2.14% 7.65%
Free Cash Flow (FCF) 1 985 868 1,530 1,338 1,869 1,781 1,973 2,062
Change - -11.88% 76.27% -12.55% 39.69% -4.7% 10.76% 4.52%
Announcement Date 01/06/22 31/05/23 30/05/24 29/05/25 28/05/26 - - -
1USD in Million
Estimates

Forecast Financial Ratios: NetApp, Inc.

Fiscal Period: April 2022 2023 2024 2025 2026 2027 2028 2029

Profitability

        
EBITDA Margin (%) 26.23% 28.09% 30.9% 32.03% 33.04% 32.9% 32.91% 33.73%
EBIT Margin (%) 23.68% 24.19% 26.83% 28.33% 30.15% 29.86% 30.76% 32.12%
EBT Margin (%) 17.33% 16.76% 20.15% 21.04% 23.8% 23.52% 23.69% 24.6%
Net margin (%) 14.83% 20.03% 15.73% 18.05% 18.43% 18.67% 19.44% 19.85%
FCF margin (%) 15.59% 13.64% 24.41% 20.36% 26.99% 23.63% 24.76% 24.29%
FCF / Net Income (%) 105.12% 68.13% 155.17% 112.82% 146.47% 126.59% 127.35% 122.39%

Profitability

        
ROA 9.67% 12.84% 13.96% 14.64% 15.16% 16.32% 17.11% 17.23%
ROE 158.77% 123.18% 119.31% 138.7% 149.59% 113.67% 102.94% 85.85%

Financial Health

        
Leverage (Debt/EBITDA) - - - - - - - -
Debt / Free cash flow - - - - - - - -

Capital Intensity

        
CAPEX / Current Assets (%) 3.58% 3.76% 2.47% 2.56% 2.86% 2.75% 2.66% 2.69%
CAPEX / EBITDA (%) 13.64% 13.37% 8% 7.98% 8.65% 8.36% 8.07% 7.96%
CAPEX / FCF (%) 22.94% 27.53% 10.13% 12.56% 10.59% 11.64% 10.73% 11.05%

Items per share

        
Cash flow per share 1 5.288 5.032 7.911 7.206 10.28 9.431 10.51 -
Change - -4.85% 57.22% -8.92% 42.71% -8.29% 11.49% -
Dividend per Share 1 2 2 2 2.08 2.08 2.106 2.175 2.296
Change - 0% 0% 4% 0% 1.27% 3.25% 5.56%
Book Value Per Share 1 3.775 5.268 5.51 5.098 6.789 8.881 12.44 16.56
Change - 39.55% 4.59% -7.48% 33.17% 30.82% 40.12% 33.05%
EPS 1 4.09 5.79 4.63 5.67 6.35 7.155 8.047 8.577
Change - 41.56% -20.03% 22.46% 11.99% 12.68% 12.46% 6.59%
Nbr of stocks (in thousands) 2,22,536 2,13,905 2,06,377 2,03,412 1,97,330 1,96,234 1,96,234 1,96,234
Announcement Date 01/06/22 31/05/23 30/05/24 29/05/25 28/05/26 - - -
1USD
Estimates
2027 *2028 *
P/E 26.9x 23.9x
PBR 21.6x 15.5x
EV / Sales 4.79x 4.45x
Yield 1.1% 1.13%

EPS & Dividend

Y-o-Y evolution of P/E

Year-on-year evolution of the Yield

Trader
Investor
Global
Quality
ESG MSCI
-
Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
20
Last Close Price
192.27USD
Average target price
183.81USD
Spread / Average Target
-4.40%

Quarterly revenue - Rate of surprise