NetApp vs Xerox Holdings
NetApp and Xerox Holdings are similar in size: $6.24bn and $7.02bn of revenue in their latest fiscal years. Xerox Holdings grew faster (12.9% against 5.6%). NetApp kept more of each dollar of sales as profit: a net margin of 20.5% against -14.7%. NetApp carries less debt relative to equity (184.1% against 978.4%).
| Latest fiscal year | NetAppNTAP, 2026 | Xerox HoldingsXRX, 2025 |
|---|---|---|
| Revenue | $6.24bn | $7.02bn |
| Revenue growth | 5.6% | 12.9% |
| Net income | $1.28bn | −$1.03bn |
| Operating margin | 26.8% | — |
| Net margin | 20.5% | -14.7% |
| Return on equity | 106.7% | -135.4% |
| Free cash flow | $1.87bn | $187m |
| Cash | $2.08bn | $512m |
| Total debt | $2.49bn | $4.34bn |
| Debt to equity | 184.1% | 978.4% |
| Dividend per share | $2.08 | — |
| Dividend yield | 1.1% | 17.5% |
| Share buybacks | $950m | $0 |
| Employees | 11,700 | 22,900 |
| Market value | $37.16bn | $164m |
| Price vs our value range | Within our value range | Below our value range |
| Moat score | 82 (Strong) | 49 (Moderate) |
| Insider trades, 12 months | 0 buys, 43 sales | 0 buys, 0 sales |