Is NetApp, Inc. overvalued or undervalued?

As of 27 August 2025, the valuation grade for NetApp, Inc. has moved from very attractive to attractive, indicating a shift in perceived value. The company appears to be fairly valued based on its current metrics, with a P/E ratio of 17, a PEG ratio of 0.80, and an EV to EBITDA ratio of 15.07. In comparison to peers, Seagate Technology has a higher P/E of 26.40, while Western Digital Corp. shows a lower P/E of 11.75, highlighting NetApp's competitive positioning within the industry.
Despite the recent downgrade in valuation grade, NetApp has demonstrated strong performance with a 1-month return of 16.03%, significantly outperforming the S&P 500's return of 2.33% over the same period. Overall, NetApp, Inc. is fairly valued in the current market context, reflecting solid fundamentals and competitive ratios relative to its peers.