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NetAppNTAP +1.88%91 EV-to-EBITDA is 16.36 as of Jul. 25, 2026, which is 45% above its 10-year median of 11.29. GuruFocus rates NTAP with a GF Score™ of 91/100 and a GF Value™ of $119.95 (Significantly Overvalued). The stock has 7 warning signs investors should review. Among 1,957 Software companies, NetApp ranks worse than 66.43% on this metric.
EV-to-EBITDA is calculated as enterprise value divided by its EBITDA. As of today, NetApp's enterprise value is $32,013 Mil.
NetApp's EBITDA for the trailing twelve months (TTM) ended in Apr. 2026 was $1,957 Mil. Therefore, NetApp's EV-to-EBITDA for today is 16.36.
The historical rank and industry rank for NetApp's EV-to-EBITDA or its related term are showing as below:
NTAP'
s EV-to-EBITDA Range Over the Past 10 Years
Min: 5.49 Med: 11.29 Max: 17.29
Current: 16.36
During the past 13 years, the highest EV-to-EBITDA of NetApp was 17.29. The lowest was 5.49. And the median was 11.29.
NTAP's EV-to-EBITDA is ranked worse than 66.43% of 1957
companies
in the Software industry
Industry Median: 10.33
vs NTAP: 16.36
EV-to-EBITDA is a valuation multiple used in finance and investment to measure the value of a company. This important multiple is often used in conjunction with, or as an alternative to, the PE Ratio to determine the fair market value of a company.
As of today (2026-07-25), NetApp's stock price is $167.74.
NetApp's Earnings per Share (Diluted) for the trailing twelve months (TTM) ended in Apr. 2026 was $6.360. Therefore, NetApp's PE Ratio (TTM) for today is 26.37.
The "classic" EV-to-EBITDA is much better in capturing debt and net cash than the PE Ratio (TTM).
NetApp (NAS:NTAP) EV-to-EBITDA Explanation
EV-to-EBITDA is a valuation multiple used in finance and investment to measure the value of a company. This important multiple is often used in conjunction with, or as an alternative to, the PE Ratio (TTM) to determine the fair market value of a company.
NetApp's share price for today is $167.74.
NetApp's Earnings per Share (Diluted) 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 $6.360.
* 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.
Study has found that the companies with the lowest EV-to-EBITDA outperforms companies measured as cheap by other ratios such as PE Ratio (TTM).
The historical data trend for NetApp's EV-to-EBITDA 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 EV-to-EBITDA, along with its competitors' market caps and EV-to-EBITDA 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 EV-to-EBITDA vs Software Industry
For the Software industry and Technology sector, NetApp's EV-to-EBITDA distribution charts can be found below:
* The bar in red indicates where NetApp's EV-to-EBITDA falls into.
NetApp's current Enterprise Value is $32,013 Mil.
NetApp's EBITDA 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 $1,957 Mil.
* 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.
NetApp (NTAP) has a EV-to-EBITDA of 16.36 as of Jul. 25, 2026. EV to EBITDA ratio is the company's enterprise value divided by earnings before interest, taxes, depreciation and amortization. View historical data on NetApp. This is 45% above median its historical median of 11.29. Over the past decade, NetApp's EV-to-EBITDA has ranged from 5.49 to 17.29. According to the industry distribution chart, NetApp ranks #1300 out of 1957 companies in the Software industry, placing it in the top 66.4%.
Is NetApp's EV-to-EBITDA too high?
NetApp's current EV-to-EBITDA of 16.36 is 45% above median its 10-year median of 11.29. Over the past 10 years, this metric has ranged from a low of 5.49 to a high of 17.29. The Software industry median EV-to-EBITDA is 10.33. NetApp's value of 16.36 is 58.4% above this industry median. Based on the distribution chart, NetApp ranks #1300 out of 1957 companies in the Software industry, which is below the industry midpoint. Overall, NetApp has a GF Score™ of 91/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does NetApp's EV-to-EBITDA compare to TWLO and MDB?
According to the Software industry distribution chart, NetApp ranks #1300 out of 1957 companies for EV-to-EBITDA. This places NetApp in the lower half of its industry. The industry median EV-to-EBITDA is 10.33. NetApp's value of 16.36 is 58.4% above this benchmark. Historically, NetApp's own EV-to-EBITDA has ranged from 5.49 to 17.29 over the past decade. While the company's 10-year median is 11.29 vs. the industry median of 10.33, 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 EV-to-EBITDA for a Software company?
The median EV-to-EBITDA among Software companies is 10.33, based on 1,957 companies in the industry. Companies in the top quartile (top 25%) have a EV-to-EBITDA significantly above this median, while those in the bottom quartile fall well below. However, EV-to-EBITDA should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. NetApp's current EV-to-EBITDA of 16.36 is 58.4% 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 EV-to-EBITDA mean?
A high EV-to-EBITDA can signal that a stock is expensive relative to its fundamentals. EV to EBITDA ratio is the company's enterprise value divided by earnings before interest, taxes, depreciation and amortization. View historical data on NetApp. For the Software industry, the median EV-to-EBITDA is 10.33 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. NetApp's current EV-to-EBITDA is 16.36, which is 45% above median its own 10-year median of 11.29. 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 $119.95, compared to a current price of $167.74 — trading 39.8% above its estimated fair value. The current EV-to-EBITDA is 16.36, which is 45% above median its 10-year median of 11.29 and 58.4% above the Software industry median of 10.33. NetApp's overall GF Score™ is 91/100 with 7 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is EV-to-EBITDA calculated?
EV-to-EBITDA is calculated from a company's financial statements. For NetApp (NTAP), the current EV-to-EBITDA is 16.36 as of Jul. 25, 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 $167.74 is trading 39.8% above its estimated GF Value™ of $119.95.
GuruFocus considers NetApp to be Significantly Overvalued.
Key valuation signals for NTAP:
EV-to-EBITDA: 16.36 (45% above median its 10-year median of 11.29)
GF Value™: $119.95 vs. price of $167.74 (39.8% above fair value)
Industry Position: 58.4% above the Software median (#1300 of 1957)
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.
91GF Score
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