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NetApp vs Western Digital: revenue, profit, margins and growth compared

NetApp brought in $6.9B of revenue in fiscal 2026, Western Digital $12.9B in fiscal 2026. Revenue changed by +5.4% at NetApp and +35.7% at Western Digital on the year before, so Western Digital grew faster. NetApp kept 18.4% of its revenue as net profit, Western Digital 72.9%. Free cash flow was $1.9B at NetApp and $3.5B at Western Digital.

Side by side, latest fiscal year

NTAPWDC
Fiscal year endedFY2026 (April 24, 2026)FY2026 (July 3, 2026)
Revenue$6.9B$12.9B
Revenue growth+5.4%+35.7%
Net income$1.3B$9.4B
Net margin18.4%72.9%
Free cash flow$1.9B$3.5B
Free cash flow margin27.0%27.2%
Earnings per share (diluted)$6.35$24.28
Cash$2.1B$1.6B
Debt$2.5B$1.1B
Price to earnings31.718.8
Market value$39.5B$164.7B
Dividend yield1.03%0.11%
Rank by revenue in sector#71 of 530 · Technology#48 of 530 · Technology

Over the years

Revenue
NTAP FY2019: $6.1BNTAP FY2020: $5.4BNTAP FY2021: $5.7BNTAP FY2022: $6.3BNTAP FY2023: $6.4BNTAP FY2024: $6.3BNTAP FY2025: $6.6BNTAP FY2026: $6.9BWDC FY2019: $16.6BWDC FY2020: $16.7BWDC FY2021: $16.9BWDC FY2022: $18.8BWDC FY2023: $6.3BWDC FY2024: $6.3BWDC FY2025: $9.5BWDC FY2026: $12.9BFY19FY20FY21FY22FY23FY24FY25FY26
NTAP $6.9BWDC $12.9B
Net income
NTAP FY2019: $1.2BNTAP FY2020: $819MNTAP FY2021: $730MNTAP FY2022: $937MNTAP FY2023: $1.3BNTAP FY2024: $986MNTAP FY2025: $1.2BNTAP FY2026: $1.3BWDC FY2019: -$754MWDC FY2020: -$250MWDC FY2021: $821MWDC FY2022: $1.5BWDC FY2023: -$1.7BWDC FY2024: -$798MWDC FY2025: $1.9BWDC FY2026: $9.4BFY19FY20FY21FY22FY23FY24FY25FY26
NTAP $1.3BWDC $9.4B
Net margin
NTAP FY2019: 19.0%NTAP FY2020: 15.1%NTAP FY2021: 12.7%NTAP FY2022: 14.8%NTAP FY2023: 20.0%NTAP FY2024: 15.7%NTAP FY2025: 18.0%NTAP FY2026: 18.4%WDC FY2019: -4.6%WDC FY2020: -1.5%WDC FY2021: 4.9%WDC FY2022: 8.2%WDC FY2023: -26.9%WDC FY2024: -12.6%WDC FY2025: 19.8%WDC FY2026: 72.9%FY19FY20FY21FY22FY23FY24FY25FY26
NTAP 18.4%WDC 72.9%
Revenue growth
NTAP FY2020: -11.9%NTAP FY2021: +6.1%NTAP FY2022: +10.0%NTAP FY2023: +0.7%NTAP FY2024: -1.5%NTAP FY2025: +4.9%NTAP FY2026: +5.4%WDC FY2020: +1.0%WDC FY2021: +1.1%WDC FY2022: +11.1%WDC FY2023: -66.7%WDC FY2024: +1.0%WDC FY2025: +50.7%WDC FY2026: +35.7%FY20FY21FY22FY23FY24FY25FY26
NTAP +5.4%WDC +35.7%
Free cash flow
NTAP FY2019: $1.2BNTAP FY2020: $936MNTAP FY2021: $1.2BNTAP FY2022: $985MNTAP FY2023: $868MNTAP FY2024: $1.5BNTAP FY2025: $1.3BNTAP FY2026: $1.9BWDC FY2019: $671MWDC FY2020: $177MWDC FY2021: $752MWDC FY2022: $758MWDC FY2023: -$1.2BWDC FY2024: -$781MWDC FY2025: $1.3BWDC FY2026: $3.5BFY19FY20FY21FY22FY23FY24FY25FY26
NTAP $1.9BWDC $3.5B

Fiscal years as each company reports them; the two may end in different months.

Questions about NetApp and Western Digital

Which is bigger by revenue, NetApp or Western Digital?

Western Digital is bigger by revenue: $12.9B in fiscal 2026, against $6.9B for NetApp in fiscal 2026.

Which keeps more of its revenue as profit, NetApp or Western Digital?

NetApp had a net margin of 18.4% in fiscal 2026; Western Digital had 72.9% in fiscal 2026.

Which grew revenue faster, NetApp or Western Digital?

In their latest fiscal years revenue changed by +5.4% at NetApp and +35.7% at Western Digital.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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