NetApp vs Xerox
Xerox reported revenue of $7.0 billion in fiscal 2025, about the same as NetApp's $6.9 billion in fiscal 2026. NetApp's revenue grew 5.4% in its latest year, and Xerox's grew 12.9%. Free cash flow was $1.9 billion at NetApp and $187 million at Xerox. Their fiscal years end in different months (April 24 and December 31), so the periods don't line up exactly.
Side by side
| NetApp | Xerox | |
|---|---|---|
| Latest fiscal year | FY2026, Apr 24, 2026 | FY2025, Dec 31, 2025 |
| Revenue | $6.9B | $7.0B |
| Revenue growth | 5.4% | 12.9% |
| Revenue growth a year, last 5 years | 3.8% | 0.0% |
| Gross margin | 70.7% | — |
| Operating margin | 24.2% | — |
| Net margin | 18.4% | −14.7% |
| Free cash flow | $1.9B | $187M |
| Free cash flow margin | 27.0% | 2.7% |
| Return on capital | — | −3.3% |
| Net debt to EBITDA | −0.6x | 19.8x |
| Dividends and buybacks | $1.4B | $57M |
| Change in diluted share count | −3.8% | 1.8% |
| Last close | $169.19 | $1.08 |
| P/E at the last close | 23.9× | — |
| Insider trades, last 12 months | sold $46.4 million | — |
| Piotroski F-score | 7 of 9 | 4 of 8 |
Amounts in each company's own currency, US$ unless marked (a foreign company may report in another), each company's latest fiscal year from its 10-K, or 20-F or 40-F for a foreign company. Growth rates compare with the year before; the five-year rate is the average a year. Free cash flow is cash from operations minus capital spending; return on capital is after-tax operating income over the money invested in the business; P/E is the last close over the latest earnings per share. Banks are measured differently (return on equity, efficiency ratio), so some rows apply to one company only.
Ten years
Revenue
US$ billions, fiscal years
NetAppXerox
Operating margin
Percent of revenue
NetAppXerox
Free cash flow
US$ billions. Cash from operations minus capital expenditure.
NetAppXerox