NetApp, Inc. Company Summary

Core Business and Operations

• Industry: Technology; specializes in data infrastructure, enterprise storage, and data management solutions.
• Founded: 1992
• Headquarters: San Jose, California
• Business Focus:
  • Provides enterprise-class software, systems, and services to transform data infrastructures across various data types, workloads, and environments.
  • Specializes in making data infrastructure "seamless," "dynamic," and "high-performing."
  • Leverages over thirty years of innovation to create an intelligent data fabric which integrates hybrid multi-cloud environments (public, private, edge).
  • Offers unified data storage solutions that deliver flexibility, simplicity, and silo-free infrastructure.
  • Focus on active data management emphasizing security, compliance, and sustainability.
  • Embeds enterprise-grade storage services directly into the major cloud platforms: Amazon AWS, Microsoft Azure, and Google Cloud.
  • Supports workloads for modernization, resilience against ransomware, AI/ML data pipelines, and scalable cloud migration.

Key Products & Solutions

• Hybrid Cloud:
  • Software: NetApp ONTAP (data management, protection, cyber resilience features like ransomware protection).
  • Hardware: All-Flash FAS (AFF) arrays, including AFF A-Series (performance-optimized) and AFF C-Series (capacity-optimized).
  • Storage solutions include SAN, NAS, object, and software-defined storage.
  • Software tools: Snapshot, SnapCenter (backup/recovery), SnapMirror (replication), SnapLock (immutability).
  • Infrastructure capable of supporting AI workloads, disaster recovery, and tiered storage.
• Public Cloud:
  • Offers cloud-native managed services such as Azure NetApp Files, Amazon FSx for NetApp ONTAP, Google Cloud NetApp Volumes.
  • Cloud software: NetApp Cloud Volumes ONTAP.
  • Management through BlueXP, a SaaS control plane for hybrid multi-cloud data management and operations.
  • Operational tools: Data Infrastructure Insights for monitoring.
  • Fully managed data services with embedded AI features designed to maximize productivity and reduce costs.

Market & Customers

• Serves large enterprises, government agencies, service providers, and channel partners globally.
• Industry segments include energy, financial services, government, healthcare, media, manufacturing, telecom, and more.
• Uses a multichannel sales approach:
  • Direct sales force (~5,100 employees worldwide)
  • Ecosystem of partners, cloud providers, resellers, system integrators, OEMs.
• Key Customers:
  • Major distributors such as Arrow Electronics (21% of FY2025 revenue) and TD Synnex (24% of FY2025 revenue).

Financial Highlights (FY2025)

• Total Revenue: Approximately $6.572 billion, increasing 5% from FY2024.
• Net Income: About $1.186 billion.
• Diluted Earnings per Share: $5.67.
• Employees: Approximately 11,700 worldwide.
• Market Capitalization (as of October 2024): Estimated around $16.6 billion market value of voting stock held by non-affiliates.
• Shareholders & Stock:
  • Shares outstanding (as of May 29, 2025): 200,366,162 shares.
  • Stock price ranges in FY2025:
    • Q1: $100.24–$135.01
    • Q2: $112.87–$134.37
    • Q3: $112.86–$135.45
    • Q4: $71.84–$127.78
• Stock Buyback & Dividends:
  • Repurchased ~10.2 million shares in FY2025 (~$1.2 billion at average $112.55/share).
  • Declared dividends of $0.52 per share quarterly.
• Cash & Investments:
  • Total cash, equivalents, and short-term investments: $3.846 billion.
• Liabilities:
  • Total debt: $3.25 billion (Senior Notes due 2025, 2027, 2030, 2032, 2035).
  • Maturity: Notes due through 2035, interest payable semi-annually.

Workforce & Leadership

• Employees: ~11,700 globally, no unionized workforce, relations considered good.
• Leadership:
  • CEO: George Kurian (since 2015)
  • President: César Cernuda
  • CFO: Wissam Jabre (rejoined March 2025)
  • Chief Product Officer: Harvinder S. Bhela
  • Chief Administrative Officer & Secretary: Elizabeth M. O’Callahan

Summary

NetApp is a global leader in enterprise data storage, management, and cloud solutions, focusing on hybrid multi-cloud infrastructure, security, and AI-enabled data pipelines. It serves a diversified customer base across multiple sectors, with a strong presence in major cloud platforms, and maintains a robust financial position with multi-billion dollar revenues, income, and shareholder returns through buybacks and dividends. The company emphasizes ease of data management, cyber resilience, and the acceleration of AI workloads in its offerings.