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Netgear, Inc. (NTGR) stock

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NASDAQ: NTGR Nasdaq Communications Equipment Next results ~November 4, 2026

C Fundamentals grade

Netgear, Inc. is a US-listed company in the communications equipment industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Fair value per share

~$35

Cash-flow model

Base case. Range ~$29–$43 across our lower- and higher-growth cases (-3%–7% a year).

Price vs value

Undervalued

The price is below our entire value range; our base value is 57% above it.

Price used: $22.28, November 2, 2026

Netgear, Inc. valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Insiders0 buying, 5 selling0 purchases and 12 sales by directors and officers, last 12 monthsInsider trades
  • Funds94 adding, 83 cuttingOf 34 active managers that changed their stake, 15 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Netgear files

Where Netgear stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $694m, down 0.5% on a year earlier, against growth of 3.7% a quarter earlier. That puts it 17 of 21 for growth among the communications equipment companies we cover. Free-cash-flow margin fell to -2.5% from 15.7% a year earlier. Operating margin narrowed to -4.9% from 8.4%. The diluted share count is down 5.3% on a year earlier, which lifts each remaining share. Against its peers on growth, profitability, cash generation and balance sheet, it grades D. It passes 2 of our 2 financial-health checks. Our cash-flow model value is $34.82 a share, against a share price of $23.79.

Source: 10-Q filed August 6, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~November 4, 2026 (estimated)

Netgear, Inc.'s trailing-twelve-month revenue fell 0.5% year on year, with a free-cash-flow margin of -2.5%. Where it stands out: change in share count of -5.3% ranks 2 of 36 communications equipment companies we cover. Where it lags: change in growth rate of -4.2pp ranks 35 of 40 communications equipment companies we cover.

Our discounted-cash-flow model values the business at ~$35 per share in the base case (~$29–$43 across growth scenarios) — model values under stated assumptions, not a price target.

Current signal Results well ahead of expectations: Reported earnings per share beat the analysts' consensus estimate by 1100% in the quarter to 2026-06-30, the 4th beat in the last four quarters.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Priced below our value. The share price of $22.28 is 57% below our value per share of $35.
  • Shrinking share count. Diluted shares fell 5.3% in a year, so each share owns more of the business.
  • Net cash. Cash exceeds long-term debt by $0.2bn.
  • Beating expectations. Earnings per share beat the analysts' consensus estimate in each of the last four quarters.

Things to watch

  • Revenue shrinking. Revenue fell 0.5% over the last 12 months.
  • Loss-making. Operating margin is -4.9%: costs exceed revenue.
  • Margins narrowing. Operating margin is down 13.2 points on a year ago.
  • Burning cash. Free cash flow was -2.5% of revenue over the last 12 months.
  • Growth easing. The growth rate is 4.2 points lower than a quarter earlier.
  • Below peers: change in growth rate. Change in growth rate of -4.2pp ranks 35 of 40 communications equipment companies we cover (median +2.0pp).

Latest results: FY2026 Q2

Filed August 6, 2026
Earnings per share
$0.16 against an average estimate of $0.01: beat by 1100.3%
Revenue
$169m, down 1.2% on a year earlier
Share reaction
-2.9% in the first session after the results on August 6, 2026, against +0.5% for the S&P 500
Next report
November 4, 2026; average EPS estimate -$0.05

Netgear's figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day-1.4%
  • 1 week-1.4%
  • 1 month-5.4%
  • This year-9.2%
  • 1 year-35.8%
  • 5 years-26.0%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$694M
Operating margin
-4.9%
Net margin
-3.7%
EPS (TTM, diluted)
$-0.92

Growth

Revenue growth
−0.5%
Change in growth rate
−4.2 pts
Share count change
−5.3%

Cash

Free cash flow (TTM)
-$17.3M
FCF margin
-2.5%
Stock pay % of revenue
5.2%

Earnings

Last results
August 6, 2026

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Results

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Netgear, Inc. valuation models and calculator

What the price is pricing in

The share price implies cash flow shrinking about 9.0% a year for five years.That is close to the -9.9% a year revenue growth Netgear has delivered.

Read with care: free cash flow has swung sharply in the past year (often a one-off tax, legal or working-capital item), so the cash-flow base behind this reading may be unusually low or high.

  • Priced in-9.0%
  • Last 12 months-0.5%
  • 3 years a year-6.6%
  • 5 years a year-9.9%

Our cash-flow model with every input fixed except growth over the next five years, solved for the growth at which the model value equals the share price ($22.93, Nov 3, 2026). Cash-flow growth then fades to 2.5% a year; discount rate 8.5%. Delivered figures are revenue growth from SEC filings. This is a model exercise, not investment advice or a forecast of the share price. All companies

Fundamentalytics rating

model v1.6 · 2026-11-03
Buy12-month view
12-month price target
~$35
Price used
$22.93close November 3, 2026
Implied change
▲ +53%
Uncertainty
Low

How we got here: a discounted-cash-flow model of Netgear, Inc.'s free cash flow after stock-based pay with after-tax interest added back ($40.6M, FY2026 Q2 TTM), growing 1.3% and 3% in the next two years (forecasts, guidance and its record), then back to 2% by year five, and fading to 2.5%, discounted at 8.5%. Lower and higher growth cases span ~$29–~$43 ; that spread sets a 15% margin before we rate Buy or Sell.

Produced by Fundamentalytics' automated valuation model on November 3, 2026, using delayed market prices. Rating meanings, methodology and conflicts: recommendations disclosure and research disclaimer. General research, not personal advice — it does not consider your circumstances. Prices can fall as well as rise.

Our value per share comes from a discounted-cash-flow model of Netgear, Inc.'s free cash flow after stock-based pay ( $40.6M, FY2026 Q2 TTM, with after-tax interest added back): growth for five years as below (the first two years from forecasts, guidance and the company's record), fading to 2.5%, discounted at 8.5%, then cash added and debt and other claims subtracted. These are model values under stated assumptions, not price targets or recommendations.

Valuation models

We value Netgear, Inc. as an operating company, with every model that fits that kind of business. Cost of equity 10.6%: the 10-year Treasury yield (4.9%) plus a beta of 1.27 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Cash-flow model (DCF) Free cash flow to the firm (after stock pay, with after-tax interest added back), grown then faded to 2.5%, discounted at 8.5% as the firm rate, less debt and other claims. ~$35 ~$29–$43 Primary model, counts double
Forward price-to-earnings vs peers Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$8.1 ~$6.6–$11 Included
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. — Does not apply: the model gives no positive value
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. — Does not apply: return on equity is not positive
Combined value Weighted average of the models that apply: the primary model (cash-flow model (dcf)) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$26 ~$8.1–$35 2 models

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Netgear, Inc. with Communications Equipment in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

Value per share under different assumptions
Discount rate ↓ / growth → −5% growth0% growth5% growth10% growth15% growth20% growth
7% $31$39$49$63$80$103
8.5% $26$32$39$49$62$78
10% $23$28$33$41$50$62

Valuation multiples over time Market data may be delayed

At fiscal year end 20152016201720182019202020212022202320242025Now
Share price$26.00$33.72$36.45$32.28$24.51$40.63$29.21$18.11$14.58$27.87$24.53$22.28
Market value$878m$1.1bn$1.2bn$1.1bn$783m$1.2bn$906m$525m$428m$827m$702m$623m
+ Net debt (− = net cash)−$182m−$240m−$203m−$201m−$190m−$346m−$264m−$147m−$177m−$286m−$210m−$174m
Enterprise value$697m$897m$967m$869m$593m$898m$642m$379m$251m$541m$492m$449m
Multiples
Price / sales 0.7x1.0x1.1x1.0x0.8x1.0x0.8x0.6x0.6x1.2x1.0x0.9x
Price / earnings 18.1x15.0x60.2x—30.4x21.4x18.3x——66.9x——
Price / free cash flow 9.0x10.5x15.1x——7.3x——8.4x5.3x——
EV / EBITDA 5.7x6.6x14.9x15.1x13.0x9.5x8.0x——28.9x——

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

44 /100

Weak moat

How hard Netgear's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 12 / 20

    Cash operating profit has been a median 10.0% of total assets over 10 years.

  • Pricing power 9 / 20

    Gross margin has been a median 28.8%, moving by 4.0 percentage points (standard deviation) across 10 years.

  • Durability 0 / 20

    Operating margin has been a median 1.1%; its worst year was -10.4%.

  • Cash conversion 8 / 20

    Free cash flow was positive in 6 of 10 years, at a median 3.9% of revenue.

  • Discipline 20 / 20

    The diluted share count fell 11.4% over five years; stock-based pay has been a median 2.2% of revenue.

AI disruption exposure: Medium. In this industry, AI could change how the product is made or sold, without replacing the core asset. The score above includes a 5-point deduction for that exposure (49 before it).

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Next results: November 4, 2026, after the close. Analysts expect revenue of $170m and EPS of −$0.05 (range −$0.08 to −$0.02) for the quarter.

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $0.28 −35% $678m −3%
Next $0.54 +88% $721m +6%

Next year's EPS estimate has moved −11.5% in 90 days, across 3 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is +42.5% on 90 days ago. In the last 30 days, 0 analysts raised Netgear, Inc.'s forecast and 2 cut it.

Consensus EPS forecast Netgear, Inc., last 90 days
$0.00 $0.20 $0.40 $0.60 $0.80 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $0.20 Current fiscal year, 60 days ago: $0.20 Current fiscal year, 30 days ago: $0.28 Current fiscal year, 7 days ago: $0.28 Current fiscal year, Now: $0.28 $0.28 Next fiscal year, 90 days ago: $0.61 Next fiscal year, 60 days ago: $0.61 Next fiscal year, 30 days ago: $0.54 Next fiscal year, 7 days ago: $0.54 Next fiscal year, Now: $0.54 $0.54

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $0.20$0.61
60 days ago $0.20$0.61
30 days ago $0.28$0.54
7 days ago $0.28$0.54
Now $0.28$0.54

Earnings against estimates

Quarter toEstimateActualSurprise
Jun 2026 $0.01 $0.16 +1100.3%
Mar 2026 −$0.07 $0.06 +180.0%
Dec 2025 $0.05 $0.26 +420.0%
Sept 2025 −$0.09 $0.12 +238.5%

Adjusted EPS as companies report it, against the average analyst estimate.

How our valuation uses these forecasts

Our cash-flow model grows Netgear, Inc.'s revenue by +1.3% next year and +3.0% the year after, then fades back toward its own record by year five. Next year's rate weighs analysts' consensus (+0.8%, weight 56%) and the company's own record (+2.0%, weight 44%) . How the weights are set.

Analyst recommendations

3 analysts, Oct 2026
Buy3100%
Hold00%
Sell00%

Monthly trend

  1. Oct 2026123
  2. Sep 2026123

Counts of recommendations published by analysts covering Netgear, Inc., by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
7.3%
of tradable shares
Days to cover
5.24
at average volume
Short interest, 1 month
−20%
to October 15, 2026
Held by institutions
97%
of shares
Held by insiders
4.0%
of shares
Employees
784
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

What moved the share price

Last 12 months −35.8%

$34.72 on October 31, 2025 to $22.28

ThenNowEffect
Revenue (last 12 months) $698m $694m −0.5%
P/S multiple 1.5x 0.9x −38.9%
Share count 30m 28m +5.6%

Biggest factor: p/s multiple. Loss-making at one end, so the split uses price/sales.

Last 3 years +73.4%

$12.85 on November 3, 2023 to $22.28

ThenNowEffect
Revenue (last 12 months) $853m $694m −18.6%
P/S multiple 0.4x 0.9x +105.0%
Share count 29m 28m +3.9%

Biggest factor: p/s multiple. Loss-making at one end, so the split uses price/sales.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
NTGR−28%−38%−20%+91%−12%−9%
Industry peers (median)+18%−18%−12%+23%+3%−3%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
NTGR42%17%50%75%33%55%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
NTGR−42%−43%−49%−27%−35%−25%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since November 2, 2015: 78% from July 18, 2018 to October 25, 2023. Getting back needed a 362% gain, and the shares have not yet recovered.

Price behaviour

52-week range
$19.87 – $31.65
From 52-week high
−29.6%
vs 50-day average
+0.2%
vs 200-day average
−3.0%
Volatility (1 year)
43%
Beta vs S&P 500
1.46

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
5 up, 7 down
typical move ±6.2%
After a week
4 up, 8 down
typical move ±7.5%
After a month
7 up, 5 down
typical move ±10.2%
Results releasedNext dayS&P 500 next day5 days21 days
August 6, 2026 −2.9% +0.5% −2.3% −12.6%
April 29, 2026 +1.5% +1.0% +2.7% +4.4%
February 4, 2026 −5.2% −1.7% −2.0% −3.2%
October 29, 2025 −0.1% −1.1% −13.6% −22.0%
July 30, 2025 −7.3% −0.5% −1.0% +6.7%
April 30, 2025 +16.7% +0.7% +19.5% +22.2%
February 5, 2025 +1.0% +0.8% +4.1% −17.5%
October 30, 2024 +7.2% −2.3% +14.9% +20.4%
July 31, 2024 +2.5% +0.2% −6.2% +1.3%
May 1, 2024 −20.3% +0.6% −21.7% −6.6%
February 7, 2024 −7.8% +0.9% −0.4% +1.9%
January 31, 2024 −1.5% −0.3% −2.1% +3.3%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Options strategies

All options ideas

How Netgear, Inc.’s listed options are priced, and three ways to use them that follow from our valuation. Quotes are delayed, read November 2, 2026. Check the live chain at your broker before trading.

Cash-secured put

Not offered: fundamentals grade C (needs B+ or better).

We suggest selling a put only on well-rated companies, at a strike where the price you would pay if assigned (strike less premium) is at or below our fair value.

Covered call

Not offered: no liquid call at or above our price target — the model says the upside is worth more than any listed strike.

For holders: sell a call at a strike at or above our fair value, so the shares are only sold at a price the model calls full value.

Collar

Not offered: the shares trade below our fair value: a collar caps upside the model expects.

For holders of a stock trading at or above our fair value: buy a put for a floor and sell a call to pay for it.

General research, not personal advice. Options can lose you more than you expect and are not suitable for everyone: put sellers can be made to buy shares that keep falling, call sellers give up gains above the strike, and results or news can move prices sharply. Chances shown are approximations from each option’s delta. Spreads, fees and early assignment are not modelled.

Netgear, Inc. in five measures

Fundamentals grade C
Growth Profitability Cash Balance sheet Value

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Netgear, Inc.
$650M $700M $750M $800M $850M FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue (TTM), FY23 Q3: $801.3M Revenue (TTM), FY23 Q4: $740.8M Revenue (TTM), FY24 Q1: $724.5M Revenue (TTM), FY24 Q2: $695M Revenue (TTM), FY24 Q3: $680M Revenue (TTM), FY24 Q4: $673.8M Revenue (TTM), FY25 Q1: $671.2M Revenue (TTM), FY25 Q2: $697.9M Revenue (TTM), FY25 Q3: $699.6M Revenue (TTM), FY25 Q4: $699.6M Revenue (TTM), FY26 Q1: $696.4M Revenue (TTM), FY26 Q2: $694.4M $694.4M

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Revenue (TTM)
FY23 Q3 $801.3M
FY23 Q4 $740.8M
FY24 Q1 $724.5M
FY24 Q2 $695M
FY24 Q3 $680M
FY24 Q4 $673.8M
FY25 Q1 $671.2M
FY25 Q2 $697.9M
FY25 Q3 $699.6M
FY25 Q4 $699.6M
FY26 Q1 $696.4M
FY26 Q2 $694.4M
Revenue growth, TTM YoY Netgear, Inc.
-30% -20% -10% 0% 10% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue growth, TTM YoY, FY23 Q3: -14.3% Revenue growth, TTM YoY, FY23 Q4: -20.6% Revenue growth, TTM YoY, FY24 Q1: -19.7% Revenue growth, TTM YoY, FY24 Q2: -18.5% Revenue growth, TTM YoY, FY24 Q3: -15.1% Revenue growth, TTM YoY, FY24 Q4: -9.1% Revenue growth, TTM YoY, FY25 Q1: -7.4% Revenue growth, TTM YoY, FY25 Q2: 0.4% Revenue growth, TTM YoY, FY25 Q3: 2.9% Revenue growth, TTM YoY, FY25 Q4: 3.8% Revenue growth, TTM YoY, FY26 Q1: 3.7% Revenue growth, TTM YoY, FY26 Q2: -0.5% -0.5%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q3 -14.3%
FY23 Q4 -20.6%
FY24 Q1 -19.7%
FY24 Q2 -18.5%
FY24 Q3 -15.1%
FY24 Q4 -9.1%
FY25 Q1 -7.4%
FY25 Q2 0.4%
FY25 Q3 2.9%
FY25 Q4 3.8%
FY26 Q1 3.7%
FY26 Q2 -0.5%
Operating margin (TTM) Netgear, Inc.
-15% -10% -5% 0% 5% 10% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Operating margin (TTM), FY23 Q3: -5.3% Operating margin (TTM), FY23 Q4: -4.5% Operating margin (TTM), FY24 Q1: -5.9% Operating margin (TTM), FY24 Q2: -10.4% Operating margin (TTM), FY24 Q3: 3.6% Operating margin (TTM), FY24 Q4: 1.8% Operating margin (TTM), FY25 Q1: 3.1% Operating margin (TTM), FY25 Q2: 8.4% Operating margin (TTM), FY25 Q3: -6.4% Operating margin (TTM), FY25 Q4: -4.9% Operating margin (TTM), FY26 Q1: -5.0% Operating margin (TTM), FY26 Q2: -4.9% -4.9%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Operating margin (TTM)
FY23 Q3 -5.3%
FY23 Q4 -4.5%
FY24 Q1 -5.9%
FY24 Q2 -10.4%
FY24 Q3 3.6%
FY24 Q4 1.8%
FY25 Q1 3.1%
FY25 Q2 8.4%
FY25 Q3 -6.4%
FY25 Q4 -4.9%
FY26 Q1 -5.0%
FY26 Q2 -4.9%
FCF margin (TTM) Netgear, Inc.
-10% 0% 10% 20% 30% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 FCF margin (TTM), FY23 Q3: -1.2% FCF margin (TTM), FY23 Q4: 6.9% FCF margin (TTM), FY24 Q1: 7.9% FCF margin (TTM), FY24 Q2: 15.7% FCF margin (TTM), FY24 Q3: 28.1% FCF margin (TTM), FY24 Q4: 23.1% FCF margin (TTM), FY25 Q1: 19.5% FCF margin (TTM), FY25 Q2: 15.7% FCF margin (TTM), FY25 Q3: -1.9% FCF margin (TTM), FY25 Q4: -2.7% FCF margin (TTM), FY26 Q1: -1.6% FCF margin (TTM), FY26 Q2: -2.5% -2.5%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q3 -1.2%
FY23 Q4 6.9%
FY24 Q1 7.9%
FY24 Q2 15.7%
FY24 Q3 28.1%
FY24 Q4 23.1%
FY25 Q1 19.5%
FY25 Q2 15.7%
FY25 Q3 -1.9%
FY25 Q4 -2.7%
FY26 Q1 -1.6%
FY26 Q2 -2.5%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-K/A, 10-Q. Generated November 3, 2026. Definitions in our methodology.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2009 Dec 2009 2010 Dec 2010 2011 Dec 2011 2012 Dec 2012 2013 Dec 2013 2014 Dec 2014 2015 Dec 2015 2016 Dec 2016 2017 Dec 2017 2018 Dec 2018 2019 Dec 2019 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025 LTM Jun 2026
Income
Revenue 687 902 1,181 1,272 1,370 1,394 1,301 1,143 1,039 1,059 999 1,255 1,168 932 741 674 700 694
Gross profit 206 299 369 384 394 398 368 374 308 342 294 372 366 251 249 196 266 278
EBITDA 44 105 140 143 126 64 121 135 65 58 46 94 81 −73 −26 19 −26 −22
Operating income 32 91 125 126 93 28 85 105 43 39 26 76 67 −83 −33 12 −34 −34
Net income 9 51 91 87 55 9 49 76 19 −9 26 58 49 −69 −105 12 −18 −26
Diluted EPS $0.27 $1.41 $2.41 $2.23 $1.42 $0.24 $1.44 $2.25 $0.61 −$0.28 $0.81 $1.90 $1.59 −$2.38 −$3.57 $0.42 −$0.63 −$0.92
Growth (year on year)
Revenue — +31.4% +30.9% +7.7% +7.7% +1.7% −6.7% −12.1% −9.1% +1.9% −5.7% +25.7% −6.9% −20.2% −20.6% −9.1% +3.8% −0.5%
EBITDA — +135.9% +33.2% +2.4% −11.9% −49.4% +90.4% +11.7% −51.9% −11.6% −20.8% +107.2% −14.8% −190.5% — — −239.6% −133.6%
Operating income — +184.9% +36.7% +1.0% −26.2% −69.8% +204.3% +23.6% −59.7% −9.0% −32.4% +188.5% −11.8% −224.5% — — — −158.0%
Net income — — +79.5% −5.3% −36.2% −84.1% — +56.1% −74.4% — — +126.0% −15.3% −239.7% — — — −140.4%
Diluted EPS — — +70.9% −7.5% −36.3% −83.1% — +56.3% −72.9% — — +134.6% −16.3% −249.7% — — — −142.7%
Margins
Gross margin 30.1% 33.2% 31.3% 30.2% 28.7% 28.6% 28.3% 32.7% 29.6% 32.3% 29.5% 29.6% 31.3% 26.9% 33.6% 29.1% 38.0% 40.0%
EBITDA margin 6.5% 11.6% 11.8% 11.2% 9.2% 4.6% 9.3% 11.8% 6.3% 5.4% 4.6% 7.5% 6.9% −7.8% −3.5% 2.8% −3.7% −3.2%
Operating margin 4.7% 10.1% 10.6% 9.9% 6.8% 2.0% 6.6% 9.2% 4.1% 3.7% 2.6% 6.0% 5.7% −8.9% −4.5% 1.8% −4.9% −4.9%
Net margin 1.4% 5.6% 7.7% 6.8% 4.0% 0.6% 3.7% 6.6% 1.9% −0.9% 2.6% 4.6% 4.2% −7.4% −14.1% 1.8% −2.6% −3.7%
Free-cash-flow margin 6.4% 2.0% 7.4% 3.2% 5.0% 6.4% 7.5% 9.4% 7.4% −10.9% −0.1% 13.6% −1.2% −2.1% 6.9% 23.1% −2.7% −2.5%
Cash flow
Cash from operations 48 26 96 55 87 109 111 118 88 −103 14 181 −5 −14 57 165 2 4
Capital spending 4 9 8 15 18 19 14 10 10 12 14 10 10 6 6 9 21 21
Free cash flow 44 18 88 40 69 90 97 108 77 −115 −1 171 −14 −19 51 156 −19 −17
Stock-based pay 11 12 14 14 17 20 17 17 19 26 29 31 26 18 18 23 30 36
Free cash flow after stock pay 33 5 74 26 51 70 80 91 58 −142 −30 140 −40 −37 33 133 −49 −53
Balance sheet
Cash 172 126 209 149 143 141 182 240 203 201 190 346 264 147 177 286 210 174
Total debt 0 0 0 0 0 0 0 0 — — 0 0 0 0 0 0 0 0
Net debt (negative = net cash) −172 −126 −209 −149 −143 −141 −182 −240 −203 −201 −190 −346 −264 −147 −177 −286 −210 −174
Diluted shares 35m 36m 38m 39m 39m 36m 34m 34m 32m 33m 32m 31m 31m 29m 29m 30m 29m 28m
Returned to shareholders
Buybacks 0 1 1 1 64 93 118 38 113 30 76 24 75 24 0 33 51 68
Total returned 0 1 1 1 64 93 118 38 113 30 76 24 75 24 0 33 51 68

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

2 of 2 checks passed · June 28, 2026
What it owns · $789m
Short-term assets $634mLonger-term assets $155m
What it owes, and who funded it · $789m
Short-term liabilities $255mLonger-term liabilities $77mShareholders' equity $456m
  • Short-term assets cover short-term liabilities $634m of assets due within a year against $255m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $634m short-term assets against $77m of longer-dated liabilities.
  • More cash than debt Cash or debt not separately reported. Not assessable.
  • Debt below 40% of shareholders' equity Equity or debt not reported. Not assessable.
  • Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
  • A year's operating cash flow covers at least 20% of debt Cash flow or debt not reported. Not assessable.
  • Operating profit covers interest at least five times over Interest not separately reported. Not assessable.

From Netgear, Inc.'s latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

FY2026 Q2 TTM
Buybacks (TTM)
$68M
Returned to shareholders
-394%
of free cash flow
Buybacks, last 3 fiscal years
$83.8M
Diluted share count
−5.3%
year over year
Total shareholder yield
11.3%
dividends 0.0% + buybacks 11.3% of market value
R&D spending
13.0%
of revenue
Days sales outstanding
80 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in communications equipment
Last 12 months unless stated NTGR RBBN AAOI NTCT DGII GILT Median
Revenue, last 12 months $694m $801m $596m $883m $506m $452m $324m
Revenue growth, last 12 months −0.5% −7.8% 61.8% 5.8% 20.3% 47.9% 11.0%
Revenue growth, 3-year average −6.6% −1.3% 40.9% −1.2% 4.9% 24.4% 4.1%
Revenue growth, latest quarter −1.2% 1.6% 86.4% 12.7% 29.0% — 12.9%
Gross margin 40.0% 48.3% 28.9% 79.8% 63.8% 29.5% 43.7%
Operating margin −4.9% −3.6% −11.3% 14.8% 13.9% 5.2% 2.2%
Operating margin, 3-year average −2.3% −0.4% −17.6% −17.1% 12.8% 3.3% −1.4%
Net margin −3.7% 2.3% −9.6% 13.7% 9.6% 4.6% −0.0%
Cash from operations / revenue 0.5% −2.3% −22.1% 30.8% 27.3% 4.6% 9.9%
Free-cash-flow margin −2.5% −3.6% −99.5% 29.6% 26.9% 2.0% 7.7%
Free-cash-flow margin, 3-year average 9.6% 0.5% −65.1% 24.5% 22.1% −0.2% 2.2%
Stock pay / revenue 5.2% 2.7% 2.6% 6.6% 3.4% 1.9% 3.9%
Change in share count −5.3% 2.5% 49.3% 3.3% 2.3% 5.9% 1.5%

Median of all 40 companies we cover in communications equipment. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

40 communications equipment companies
Measure Company Peer median Rank
Revenue growth Growth -0.5% 11.3% 30 of 40
Change in growth rate Growth -4.2pp +2.0pp 35 of 40
Gross margin Profitability 40.0% 44.1% 24 of 36
Operating margin Profitability -4.9% 2.4% 27 of 40
Net margin Profitability -3.7% 0.6% 25 of 40
Free-cash-flow margin Cash generation -2.5% 8.2% 25 of 38
Stock pay as % of revenue Cash generation 5.2% 3.9% 23 of 37
Change in share count Balance sheet -5.3% 1.6% 2 of 36
Days sales outstanding Balance sheet 80 days 75 days 21 of 34

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to December 31, 2025
Segments
Line of business Revenue Share YoY
Consumer $358M 51.1% ▼ 7.3%
Enterprise $342M 48.9% ▲ 18.8%
Geography
Region Revenue YoY
Americas $476M ▲ 4.4%
United States $462M ▲ 4.1%
EMEA $140M ▲ 9.7%
APAC $84M ▼ 7.1%
Asia Pacific $84M ▼ 7.1%
Americas Excluding United States $14.2M ▲ 15.8%

These categories overlap or exclude eliminations, so shares aren't shown.

From Netgear, Inc.'s 10-K filed February 13, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$618M
Institutions reporting
187
Shares held vs prior quarter
▼ 1.2%
Positions opened / closed
27 / 21

Top buyers and sellers, Q2 2026: 94 institutions bought and 83 sold ; the biggest buyer was First Eagle Investment Management, LLC (+934K shares) and the biggest seller Brandes Investment Partners, LP (−1.2M). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Blackrock, Inc. $82.8M 3.5M 13.4% ▲ 3.2%
Brandes Investment Partners, LP $41.2M 1.8M 6.7% ▼ 41.2%
Windward Management LP $32M 1.4M 5.2% ▼ 6.0%
Vanguard Portfolio Management LLC $30.7M 1.3M 5.0% ▲ 2.2%
First Eagle Investment Management, LLC $28.5M 1.2M 4.6% ▲ 323.1%
Vanguard Capital Management LLC $26M 1.1M 4.2% ▼ 8.2%
Acadian Asset Management LLC $25.6M 1.1M 4.1% ▼ 2.6%
State Street Corp $25.4M 1.1M 4.1% ▲ 16.1%
Dimensional Fund Advisors LP $24.7M 1.1M 4.0% ▼ 5.0%
Goldman Sachs Group Inc $17.4M 744K 2.8% ▲ 3.5%
Arrowstreet Capital, Limited Partnership $17M 729K 2.8% ▲ 16.3%
Geode Capital Management, LLC $16.7M 716K 2.7% ▲ 2.3%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Netgear, Inc.'s complete shareholder register. Values are as reported by the filers .

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $592,912 12 trades by 5 insiders · 100% under pre-set plans
Net ▼ $592,912 net selling
Insider Date Trade Shares Price Value
Badjate Pramod President & GM, NFB July 31, 2026 Sell pre-set plan 2,000 $24.09 $48,180
Badjate Pramod President & GM, NFB July 31, 2026 Sell pre-set plan 1,000 $23.45 $23,450
Durr Laura Director June 2, 2026 Sell pre-set plan 1,000 $26.76 $26,760
Durr Laura Director June 1, 2026 Sell pre-set plan 2,000 $25.94 $51,880
Butterfass Sarah Director June 1, 2026 Sell pre-set plan 1,570 $26.77 $42,029
Butterfass Sarah Director June 1, 2026 Sell pre-set plan 1,134 $27.08 $30,709
Goli Shravan Director June 1, 2026 Sell pre-set plan 1,541 $26.69 $41,129
Goli Shravan Director June 1, 2026 Sell pre-set plan 1,840 $27.05 $49,772
Badjate Pramod President & GM, NFB May 1, 2026 Sell pre-set plan 3,000 $25.47 $76,410
Badjate Pramod President & GM, NFB February 2, 2026 Sell pre-set plan 3,000 $20.97 $62,910
Badjate Pramod President & GM, NFB November 19, 2025 Sell pre-set plan 4,000 $24.60 $98,400
Mclindin Graeme VP, Mobile November 3, 2025 Sell pre-set plan 1,205 $34.26 $41,283

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Earnings dates and SEC filings

Results announcements

Next expected around October 28, 2026 estimated from the company's past filing pattern, not announced

  • August 6, 2026
  • April 29, 2026
  • February 4, 2026
  • October 29, 2025
  • July 30, 2025
  • April 30, 2025

Recent SEC filings

Data status

When each part of this page on Netgear, Inc. was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Netgear, Inc. in brief

What does Netgear, Inc. do?
Netgear, Inc. is a US-listed company in the communications equipment industry. Its financial year ends in December.
What is Netgear, Inc.'s stock ticker?
Netgear, Inc. trades under the ticker NTGR on Nasdaq. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Netgear, Inc.'s revenue, and how fast is it growing?
Over its most recent trailing twelve months, Netgear, Inc. reported revenue of $694M, 0.5% lower than a year earlier, according to its SEC filings.
What is Netgear, Inc.'s free cash flow?
Netgear, Inc.'s free-cash-flow margin is -2.5% of revenue over the trailing twelve months, ranking 25 of the 38 communications equipment companies we cover.
What is Netgear, Inc.'s fair value (intrinsic value) per share?
Our discounted-cash-flow model of Netgear, Inc.'s free cash flow after stock-based pay gives ~$35 per share in the base case, and ~$29–$43 across growth scenarios. These are model values under stated assumptions — not a price target or a recommendation.
Who are Netgear, Inc.'s largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Blackrock, Inc., Brandes Investment Partners, LP and Windward Management LP. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
Is Netgear, Inc. buying back stock, and does it pay a dividend?
Netgear, Inc. spent $68M on share repurchases over the trailing twelve months, and its diluted share count fell 5.3% over the year.
What is Netgear, Inc.'s market cap?
On November 2, 2026, Netgear, Inc.'s market capitalisation was about $623M and net debt of -$174M. Market figures come from third-party market data and may be delayed.
Who are Netgear, Inc.'s competitors?
In our Communications Equipment peer group, the companies closest to Netgear, Inc. are Ribbon Communications Inc., Applied Optoelectronics, Inc., Netscout Systems Inc, Digi International Inc and Gilat Satellite Networks LTD. The side-by-side comparison below sets their revenue, margins and growth against Netgear, Inc.'s.
Are insiders buying or selling Netgear, Inc. stock?
Over the last 12 months, Netgear, Inc.'s directors and officers reported 0 open-market purchases and 12 sales on Form 4. The insider trading page charts every trade.
When is Netgear, Inc.'s next earnings date?
Around November 4, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Netgear, Inc. announces its own schedule.