NetApp, Inc. FY 2026 10-K, explained in plain English

Key financials — as reported

Total revenue	$6.9B
Gross margin	70.7%
Operating income	$1.7B
Net income	$1.3B
Diluted EPS	$6.35
Cash & equivalents	$2.1B
Total assets	$10.7B
Long-term debt	$2.5B

Key takeaway

NetApp reported $6.925 billion in revenue with a 70.7% gross margin and $1.276 billion in net income for fiscal 2026.

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Beneath the surface

Net debt is effectively negative: $3.584 billion in cash plus short-term investments comfortably exceeds the $2.487 billion long-term debt balance, contrary to any headline debt concern.

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