NetApp, Inc. Earnings Per Share Disclosure
14. Net Income per Share
The following is a calculation of basic and diluted net income per share (in millions, except per share amounts):
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Year Ended |
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April 25, 2025 |
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April 26, 2024 |
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April 28, 2023 |
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Numerator: |
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Net income |
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$ |
1,186 |
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$ |
986 |
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$ |
1,274 |
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Denominator: |
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Shares used in basic computation |
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204 |
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208 |
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217 |
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Dilutive impact of employee equity award plans |
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5 |
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5 |
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3 |
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Shares used in diluted computation |
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209 |
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213 |
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220 |
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Net Income per Share: |
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Basic |
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$ |
5.81 |
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$ |
4.74 |
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$ |
5.87 |
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Diluted |
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$ |
5.67 |
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$ |
4.63 |
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$ |
5.79 |
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The following table presents the numbers of potential shares of common stock from outstanding employee equity awards that have been excluded from the computation of diluted net income per share, as their inclusion would have had an anti-dilutive effect, for the periods presented (in millions):
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Year Ended |
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April 25, 2025 |
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April 26, 2024 |
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April 28, 2023 |
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Employee equity award plans |
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1 |
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2 |
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6 |
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Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Jun 9, 2025 | Showing above |
| 2024 | Jun 10, 2024 | |
| 2023 | Jun 14, 2023 | |
| 2022 | Jun 16, 2022 | |
| 2021 | Jun 21, 2021 | |
| 2020 | Jun 15, 2020 | |
| 2019 | Jun 18, 2019 | |
| 2018 | Jun 19, 2018 | |
| 2017 | Jun 20, 2017 | |
| 2016 | Jun 22, 2016 | |
About Earnings Per Share Disclosures
The earnings per share disclosure breaks down the calculation from net income to both basic and diluted EPS, revealing the full impact of a company's capital structure on per-share economics. The reconciliation between basic and diluted share counts exposes how many stock options, RSUs, convertible securities, and warrants are potentially dilutive to existing shareholders.
Key signals: a widening gap between basic and diluted shares indicates growing dilution from equity compensation or convertible instruments. Anti-dilutive securities excluded from the diluted calculation deserve attention — they represent latent dilution that will materialize if the stock price rises. Watch for the effect of share buybacks on per-share metrics: EPS growth driven primarily by repurchases rather than income growth signals weakening fundamentals. Compare year-over-year changes in the diluted share count against equity compensation expense to assess whether management is effectively managing dilution.