NetApp stock holds support after fiscal 2025 margins and cash flow

NetApp Inc. (US64120B1098) remains anchored by fiscal 2025 numbers that investors can still measure cleanly: revenue was $6.57 billion, non-GAAP operating margin was 29.5%, and free cash flow reached $1.57 billion. The company also reported fiscal 2025 non-GAAP EPS of $7.79, giving the stock a clear earnings backdrop to trade against.

Revenue and margin

For fiscal 2025, NetApp reported $6.57 billion in revenue, up 5% from fiscal 2024. Non-GAAP operating margin was 29.5% in fiscal 2025, while non-GAAP EPS rose to $7.79 from $7.25 a year earlier, a gain of about 7.4%.

That mix matters because revenue growth, margin discipline, and EPS expansion moved together in the same fiscal year. NetApp also said free cash flow was $1.57 billion in fiscal 2025, which gave it room to fund returns and balance-sheet priorities.

Cash flow and returns

Free cash flow of $1.57 billion in fiscal 2025 was roughly 24% of revenue, based on the $6.57 billion top line. The company said it returned capital through dividends and buybacks, and the cash generation profile is one reason the stock continues to screen as a cash-flow story rather than a pure growth trade.

NetApp also reported a 5% year-over-year revenue increase for fiscal 2025, which is modest by software standards but still useful in a market that tends to reward durable execution. The combination of a 29.5% operating margin and $7.79 in non-GAAP EPS gives the shares a defined earnings base.

Storage remains the core

NetApp's storage platform is still the product center of gravity, and the latest fiscal year shows why the category matters: the business produced $6.57 billion of revenue while holding operating margin near 30%. That combination indicates a company that still monetizes infrastructure spending efficiently.

The stock closing frame is the company itself: NetApp Inc. trades on Nasdaq under NTAP, with the latest fiscal 2025 report providing the main earnings reference point in this article. The company has a published investor relations home at its corporate site for further report context.

NetApp stock and fiscal 2025

NetApp stock is best read through its fiscal 2025 income statement and cash generation rather than through a single-day catalyst. The reported $7.79 in non-GAAP EPS, $1.57 billion in free cash flow, and 29.5% non-GAAP operating margin together define the current fundamental setup.

The stock therefore has a clear baseline: 5% revenue growth, 7.4% EPS growth, and free cash flow equal to about 24% of sales in fiscal 2025. That is the metric set most investors will likely compare against the next quarterly update.

Product focus

NetApp's product story remains centered on enterprise storage, cloud data management, and hybrid infrastructure. Those are the categories behind the fiscal 2025 results and the reason the company still appeals to buyers that want recurring software-like economics inside infrastructure spending.

Trading line

NetApp stock has no dated live quote in this article, so the market reference point here is the reported fiscal 2025 data rather than a same-day price. The cleanest dated anchor remains the fiscal year ended 31 March 2025, when revenue was $6.57 billion and free cash flow was $1.57 billion.