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NetAppNTAP +4.12%87 EV-to-OCF is 17.67 as of Aug. 05, 2026, which is 49% above its 10-year median of 11.87. GuruFocus rates NTAP with a GF Score™ of 87/100 and a GF Value™ of $120.24 (Significantly Overvalued). The stock has 7 warning signs investors should review. Among 2,879 Software companies, NetApp ranks worse than 74.64% on this metric.
EV-to-OCF is calculated as enterprise value divided by its cash flow from operations. As of today, NetApp's Enterprise Value is $36,524 Mil.
NetApp's Cash Flow from Operations for the trailing twelve months (TTM) ended in Apr. 2026 was $2,067 Mil. Therefore, NetApp's EV-to-OCF for today is 17.67.
The historical rank and industry rank for NetApp's EV-to-OCF or its related term are showing as below:
NTAP'
s EV-to-OCF Range Over the Past 10 Years
Min: 4.75 Med: 11.87 Max: 18.16
Current: 17.67
During the past 13 years, the highest EV-to-OCF of NetApp was 18.16. The lowest was 4.75. And the median was 11.87.
NTAP's EV-to-OCF is ranked worse than 74.64% of 2879
companies
in the Software industry
Industry Median: 6.65
vs NTAP: 17.67
EV-to-OCF is a valuation multiple that allows analysts and investors to compare stocks, preferably in the same sector or industry. 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.
As of today (2026-08-05), NetApp's stock price is $190.46.
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 29.95.
EV-to-OCF is a valuation multiple that allows analysts and investors to compare stocks, preferably in the same sector or industry. 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 $190.46.
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.
Enterprise Value is used because it is a more complete measure in reflecting how much an investor pays when buying a company. Cash Flow from Operations is an important financial metric because it represents the cash generated from operating activities at a company's disposal. Companies with a low EV-to-OCF ratio, combined with a strong balance sheet are generally considered as undervalued.
NetApp EV-to-OCF Related Terms
NetApp EV-to-OCF Historical Data
* Premium members only.
The historical data trend for NetApp's EV-to-OCF 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-OCF, along with its competitors' market caps and EV-to-OCF 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-OCF vs Software Industry
For the Software industry and Technology sector, NetApp's EV-to-OCF distribution charts can be found below:
* The bar in red indicates where NetApp's EV-to-OCF falls into.
NetApp's current Enterprise Value is $36,524 Mil.
NetApp's Cash Flow from Operations 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 $2,067 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-OCF of 17.67 as of Aug. 05, 2026. This is 49% above median its historical median of 11.87. Over the past decade, NetApp's EV-to-OCF has ranged from 4.75 to 18.16. According to the industry distribution chart, NetApp ranks #2149 out of 2879 companies in the Software industry, placing it in the top 74.6%.
Is NetApp's EV-to-OCF too high?
NetApp's current EV-to-OCF of 17.67 is 49% above median its 10-year median of 11.87. Over the past 10 years, this metric has ranged from a low of 4.75 to a high of 18.16. The Software industry median EV-to-OCF is 6.65. NetApp's value of 17.67 is 165.7% above this industry median. Based on the distribution chart, NetApp ranks #2149 out of 2879 companies in the Software industry, which is below 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 EV-to-OCF compare to TWLO and CRWV?
According to the Software industry distribution chart, NetApp ranks #2149 out of 2879 companies for EV-to-OCF. This places NetApp in the lower half of its industry. The industry median EV-to-OCF is 6.65. NetApp's value of 17.67 is 165.7% above this benchmark. Historically, NetApp's own EV-to-OCF has ranged from 4.75 to 18.16 over the past decade. While the company's 10-year median is 11.87 vs. the industry median of 6.65, 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-OCF for a Software company?
The median EV-to-OCF among Software companies is 6.65, based on 2,879 companies in the industry. Companies in the top quartile (top 25%) have a EV-to-OCF significantly above this median, while those in the bottom quartile fall well below. However, EV-to-OCF should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. NetApp's current EV-to-OCF of 17.67 is 165.7% 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 EV-to-OCF mean?
A high EV-to-OCF can signal that a stock is expensive relative to its fundamentals. For the Software industry, the median EV-to-OCF is 6.65 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. NetApp's current EV-to-OCF is 17.67, which is 49% above median its own 10-year median of 11.87. 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 $120.24, compared to a current price of $190.46 — trading 58.4% above its estimated fair value. The current EV-to-OCF is 17.67, which is 49% above median its 10-year median of 11.87 and 165.7% above the Software industry median of 6.65. 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 EV-to-OCF calculated?
EV-to-OCF is calculated from a company's financial statements. For NetApp (NTAP), the current EV-to-OCF is 17.67 as of Aug. 05, 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 $190.46 is trading 58.4% above its estimated GF Value™ of $120.24.
GuruFocus considers NetApp to be Significantly Overvalued.
Key valuation signals for NTAP:
EV-to-OCF: 17.67 (49% above median its 10-year median of 11.87)
GF Value™: $120.24 vs. price of $190.46 (58.4% above fair value)
Industry Position: 165.7% above the Software median (#2149 of 2879)
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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