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NetAppNTAP +2.60%87 Earnings Yield (Joel Greenblatt) % is 8.42% as of Apr. 2026, which is 15% above its 10-year median of 7.34. GuruFocus rates NTAP with a GF Score™ of 87/100 and a GF Value™ of $120.16 (Significantly Overvalued). The stock has 7 warning signs investors should review. Among 2,910 Software companies, NetApp ranks better than 63.44% on this metric.
NetApp's Enterprise Value for the quarter that ended in Apr. 2026 was $20,860 Mil.
NetApp's EBIT for the trailing twelve months (TTM) ended in Apr. 2026 was $1,757 Mil. NetApp's Earnings Yield (Joel Greenblatt) for the quarter that ended in Apr. 2026 was 8.42%.
The historical rank and industry rank for NetApp's Earnings Yield (Joel Greenblatt) % or its related term are showing as below:
NTAP'
s Earnings Yield (Joel Greenblatt) % Range Over the Past 10 Years
Min: 4.89 Med: 7.34 Max: 15.57
Current: 5.14
During the past 13 years, the highest Earnings Yield (Joel Greenblatt) of NetApp was 15.57%. The lowest was 4.89%. And the median was 7.34%.
NTAP's Earnings Yield (Joel Greenblatt) % is ranked better than 63.44% of 2910
companies
in the Software industry
Industry Median: 2.045
vs NTAP: 5.14
Joel Greenblatt's definition of earnings yield has the same problems the regular earnings yield does. It does not consider the growth of the company. It only looks at one-year's business operation. For cyclical companies, the earnings yield is usually highest at the peak of the business cycle. But these earnings are rarely sustainable.
A better indicator of the attractiveness of an investment which takes growth into account is the Forward Rate of Return (Yacktman) %. NetApp's Forward Rate of Return (Yacktman) % for the quarter that ended in Apr. 2026 was 15.83%. The Forward Rate of Return uses the normalized Free Cash Flow of the past five years, and considers growth. The forward rate of return can be thought of as the return that investors buying the stock today can expect from it in the future.
Joel Greenblatt defines the earnings yield using the above equation because it more accurately reflects the company's profitability relative to its stock price. Items like interest payment and tax etc. are not directly related to the company's operational profitability.
Enterprise Value instead of market cap (share price) is used in the calculation because it is the real price stock and bond investors together pay for the company.
Be Aware
Joel Greenblatt's definition of earnings yield has the same problems the regular earnings yield does. It does not consider the growth of the company. It only looks at one-year's business operation. For cyclical companies, the earnings yield is usually highest at the peak of the business cycle. But these earnings are rarely sustainable.
NetApp Earnings Yield (Joel Greenblatt) % Related Terms
NetApp Earnings Yield (Joel Greenblatt) % Historical Data
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The historical data trend for NetApp's Earnings Yield (Joel Greenblatt) % can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
For the Software - Infrastructure subindustry, NetApp's Earnings Yield (Joel Greenblatt) %, along with its competitors' market caps and Earnings Yield (Joel Greenblatt) % data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
NetApp Earnings Yield (Joel Greenblatt) % vs Software Industry
For the Software industry and Technology sector, NetApp's Earnings Yield (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where NetApp's Earnings Yield (Joel Greenblatt) % falls into.
In his book, The Little That Beat the Market, hedge fund manager Joel Greenblatt defines Earnings Yield as operating income divided by enterprise value.
NetApps Earnings Yield (Joel Greenblatt) for the fiscal year that ended in Apr. 2026 is calculated as
NetApp's EBIT for the trailing twelve months (TTM) ended in Apr. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was $1,757 Mil.
What does a Earnings Yield (Joel Greenblatt) % of 8.42% mean?
NetApp (NTAP) has a Earnings Yield (Joel Greenblatt) % of 8.42% as of Apr. 2026. Joel Greenblatt's earnings yield equals the ratio of earnings before interest and taxes to enterprise value. View historical data on NetApp and its competitors. This is 15% above median its historical median of 7.34. Over the past decade, NetApp's Earnings Yield (Joel Greenblatt) % has ranged from 4.89 to 15.57. According to the industry distribution chart, NetApp ranks #1064 out of 2910 companies in the Software industry, placing it in the top 36.6%.
Is NetApp's Earnings Yield (Joel Greenblatt) % too high?
NetApp's current Earnings Yield (Joel Greenblatt) % of 8.42% is 15% above median its 10-year median of 7.34. Over the past 10 years, this metric has ranged from a low of 4.89 to a high of 15.57. The Software industry median Earnings Yield (Joel Greenblatt) % is 2.05. NetApp's value of 8.42% is 311.7% above this industry median. Based on the distribution chart, NetApp ranks #1064 out of 2910 companies in the Software industry, which is above the industry midpoint. Overall, NetApp has a GF Score™ of 87/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does NetApp's Earnings Yield (Joel Greenblatt) % compare to TWLO and CRWV?
According to the Software industry distribution chart, NetApp ranks #1064 out of 2910 companies for Earnings Yield (Joel Greenblatt) %. This puts NetApp in the upper half of its industry. The industry median Earnings Yield (Joel Greenblatt) % is 2.05. NetApp's value of 8.42% is 311.7% above this benchmark. Historically, NetApp's own Earnings Yield (Joel Greenblatt) % has ranged from 4.89 to 15.57 over the past decade. While the company's 10-year median is 7.34 vs. the industry median of 2.05, NetApp has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Earnings Yield (Joel Greenblatt) % for a Software company?
The median Earnings Yield (Joel Greenblatt) % among Software companies is 2.05, based on 2,910 companies in the industry. Companies in the top quartile (top 25%) have a Earnings Yield (Joel Greenblatt) % significantly above this median, while those in the bottom quartile fall well below. However, Earnings Yield (Joel Greenblatt) % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. NetApp's current Earnings Yield (Joel Greenblatt) % of 8.42% is 311.7% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Earnings Yield (Joel Greenblatt) % mean?
A high Earnings Yield (Joel Greenblatt) % can signal that a stock is expensive relative to its fundamentals. Joel Greenblatt's earnings yield equals the ratio of earnings before interest and taxes to enterprise value. View historical data on NetApp and its competitors. For the Software industry, the median Earnings Yield (Joel Greenblatt) % is 2.05 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. NetApp's current Earnings Yield (Joel Greenblatt) % is 8.42%, which is 15% above median its own 10-year median of 7.34. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is NetApp stock overvalued right now?
Based on GuruFocus' analysis, NetApp (NTAP) is currently considered Significantly Overvalued. The stock's GF Value™ is $120.16, compared to a current price of $178.50 — trading 48.6% above its estimated fair value. The current Earnings Yield (Joel Greenblatt) % is 8.42%, which is 15% above median its 10-year median of 7.34 and 311.7% above the Software industry median of 2.05. NetApp's overall GF Score™ is 87/100 with 7 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Earnings Yield (Joel Greenblatt) % calculated?
Earnings Yield (Joel Greenblatt) % is calculated from a company's financial statements. For NetApp (NTAP), the current Earnings Yield (Joel Greenblatt) % is 8.42% as of Apr. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is NetApp (NTAP) Overvalued in 2026?
Based on GuruFocus' analysis, NetApp stock appears to be overvalued.
The current stock price of $178.50 is trading 48.6% above its estimated GF Value™ of $120.16.
GuruFocus considers NetApp to be Significantly Overvalued.
Key valuation signals for NTAP:
Earnings Yield (Joel Greenblatt) %: 8.42% (15% above median its 10-year median of 7.34)
GF Value™: $120.16 vs. price of $178.50 (48.6% above fair value)
Industry Position: 311.7% above the Software median (#1064 of 2910)
No single metric tells the full story. See the NTAP stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
NetApp Inc is storage hardware provider into a software-driven, cloud-centric data infrastructure company. Its flagship ONTAP data management software, together with a comprehensive portfolio of all-flash, hybrid-flash, and cloud-native solutions, forms the backbone of digital transformation for thousands of enterprises world'wide. Its operations are organized into two segments Hybrid Cloud and Public Cloud. It generates majority of revenue from Hybrid Cloud offers a unified data storage portfolio of storage management and infrastructure solutions that helps customers modernize their data centers. Hybrid Cloud includes software, hardware, and related support, along with professional and other services. It generates majority of revenue from United States followed by International market.
87GF Score
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Earnings Yield (Joel Greenblatt) % is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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