NetScout Systems, Inc. (NTCT) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q1 27	$0.39	$0.52	+33.3%	—	$210.4M	—
Q4 26	$0.46	$0.52	+13.0%	—	$203M	—
Q3 26	$0.82	$1	+22.0%	—	$250.7M	—
Q2 26	$0.45	$0.62	+37.8%	—	$219M	—
Q1 26	$0.3	$0.34	+13.3%	—	$186.7M	—
Q4 25	$0.49	$0.52	+6.1%	—	$205M	—
Q3 25	$0.69	$0.94	+36.2%	—	$252M	—
Q2 25	$0.45	$0.47	+4.4%	—	$191.1M	—
Q1 25	$0.11	$0.28	+154.5%	—	$174.6M	—
Q4 24	$0.52	$0.55	+5.8%	—	$203.4M	—
Q3 24	$0.37	$0.73	+97.3%	—	$218.1M	—
Q2 24	$0.61	$0.61	0.0%	—	$196.8M	—
Q1 24	$0.31	$0.31	0.0%	—	$211.1M	—
Q4 23	$0.5	$0.38	-24.0%	—	$208.1M	—
Q3 23	$0.7	$1	+42.9%	—	$269.5M	—
Q2 23	$0.49	$0.57	+16.3%	—	$228.1M	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY26	—	$1.33	—	—	$859.5M	—
FY25	—	-$5.12	—	—	$822.7M	—
FY24	—	-$2.07	—	—	$829.5M	—
FY23	—	$0.83	—	—	$914.5M

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26
Revenue	$1.2B	$986.8M	$909.9M	$891.8M	$831.3M	$855.6M	$914.5M	$829.5M	$822.7M	$859.5M
YoY change	+21.6%	-15.1%	-7.79%	-1.99%	-6.79%	+2.92%	+6.89%	-9.3%	-0.82%	+4.47%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26
Revenue	1.2B	986.8M	909.9M	891.8M	831.3M	855.6M	914.5M	829.5M	822.7M	859.5M
Cost of revenue	346.1M	271.9M	254.1M	242.2M	222.1M	214.2M	223.1M	187.4M	178.7M	177M
Gross profit	816M	714.9M	655.8M	649.6M	609.2M	641.4M	691.4M	642M	643.9M	682.5M
Gross margin	70.2%	72.4%	72.1%	72.8%	73.3%	75%	75.6%	77.4%	78.3%	79.4%
Research & development	232.7M	215.1M	203.6M	188.3M	179.2M	171.1M	176.2M	161.2M	152.9M	159.5M
Selling, general & administrative	447.1M	422M	385.4M	376.5M	331.7M	361.9M	380.4M	366.9M	364.8M	367.7M
Operating expenses	679.8M	637.1M	589M	564.8M	510.9M	533M	556.6M	528.1M	517.6M	527.2M
Operating income	66.1M	1.2M	-7.5M	20.3M	37.2M	48.6M	79.4M	63.6M	79.9M	110.7M
Operating margin	5.68%	0.12%	-0.83%	2.28%	4.47%	5.68%	8.69%	7.67%	9.71%	12.9%
Non-operating income, net	-5.7M	-9M	-64.5M	-2.3M	-4.7M	2M	-5.7M	-209.1M	-449.2M	-4.3M
Pretax income	52.2M	-18.7M	-92.9M	1.9M	22.3M	42.9M	68.4M	-144.5M	-365.8M	118.5M
Income tax	18.9M	-98.5M	-19.6M	4.7M	3M	7M	8.8M	3.2M	1.1M	23M
Net income	33.3M	79.8M	-73.3M	-2.8M	19.4M	35.9M	59.6M	-147.7M	-366.9M	95.5M
Net margin	2.86%	8.09%	-8.06%	-0.31%	2.33%	4.19%	6.52%	-17.8%	-44.6%	11.1%
EBITDA	226.2M	152.7M	135.1M	141.3M	139.1M	146.7M	166.4M	152.6M	152.6M	177.6M
EPS	0.36	0.91	-0.93	-0.04	0.26	0.5	0.83	-2.07	-5.12	1.33
Diluted EPS	0.36	0.9	-0.93	-0.04	0.26	0.49	0.82	-2.07	-5.12	1.3

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26	Q3 26	Q4 26	Q1 27
Revenue	196.8M	218.1M	203.4M	174.6M	191.1M	252M	205M	186.7M	219M	250.7M	203M	210.4M
Cost of revenue	43.1M	43.6M	50.3M	44.4M	42.1M	46.6M	45.7M	43.4M	43.6M	46M	43.9M	44.5M
Gross profit	153.8M	174.4M	153.1M	130.2M	149.1M	205.4M	159.3M	143.3M	175.4M	204.7M	159.1M	165.9M
Gross margin	78.1%	80%	75.3%	74.6%	78%	81.5%	77.7%	76.7%	80.1%	81.6%	78.4%	78.9%
Research & development	35.1M	37M	43.6M	42.5M	35.9M	37.8M	36.7M	39.8M	40.3M	39.6M	39.8M	42.4M
Selling, general & administrative	83.6M	92.2M	83.8M	95.9M	85M	93.4M	90.5M	98.5M	91.2M	89.5M	88.6M	98.5M
Operating expenses	118.7M	129.3M	127.4M	138.4M	120.9M	131.2M	127.2M	138.2M	131.5M	129.2M	128.3M	140.8M
Operating income	22.5M	32.7M	13.2M	-19.8M	16.5M	62.6M	20.5M	-6M	32.8M	64.3M	19.6M	14.5M
Operating margin	11.4%	15%	6.48%	-11.3%	8.65%	24.9%	10%	-3.23%	15%	25.7%	9.66%	6.89%
Non-operating income, net	4.7M	-166.3M	-46.6M	-435.1M	-5M	-5.1M	-4.1M	411K	-4.5M	-553K	333K	558K
Pretax income	27.5M	-133.7M	-32.9M	-453.7M	12.3M	57.4M	18.2M	-2.8M	31.4M	66.6M	23.3M	19M
Income tax	6M	-1.1M	-513K	-10.3M	3.3M	8.6M	-416K	851K	5.6M	11.5M	5.1M	-2.9M
Net income	21.5M	-132.6M	-32.4M	-443.4M	9M	48.8M	18.6M	-3.7M	25.8M	55.1M	18.2M	21.8M
Net margin	10.9%	-60.8%	-15.9%	-254%	4.72%	19.4%	9.08%	-1.97%	11.8%	22%	8.98%	10.4%
EBITDA	42.2M	54.1M	37.5M	10.8M	35.3M	79.3M	31.2M	15.1M	51.5M	83.1M	34.9M	33.9M
EPS	0.3	-1.87	-0.46	-6.2	0.13	0.68	0.26	-0.05	0.36	0.76	0.25	0.3
Diluted EPS	0.29	-1.87	-0.46	-6.2	0.13	0.67	0.25	-0.05	0.35	0.75	0.25	0.29

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26	Current
Market cap	—	2.3B	—	1.8B	2.1B	2.4B	2.1B	1.6B	1.5B	2.3B	2.9B
Enterprise value	—	2.5B	—	1.9B	2B	2.1B	1.8B	1.3B	1.1B	1.7B	2.3B
Shares outstanding	92.2M	87.4M	78.6M	75.2M	73.1M	74M	71.8M	71.5M	71.6M	72M	72M

Valuation

Metric	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26	Current
P/E	—	28.9	—	—	106.4	66.2	34.5	—	—	24	23.9
P/S	—	2.33	—	1.99	2.48	2.78	2.25	1.88	1.83	2.66	3.23
P/B	—	1.11	—	0.92	1.03	1.15	1.01	0.83	0.96	1.39	1.72
EV/EBITDA	—	16.1	—	13.6	14.4	14.2	10.8	8.44	6.93	9.35	12.1
EV/Sales	—	2.49	—	2.16	2.41	2.44	1.97	1.55	1.28	1.93	2.58
Earnings yield	—	3.46%	—	—	0.94%	1.51%	2.9%	—	—	4.17%	4.18%
FCF yield	—	8.94%	—	11.5%	9.59%	12%	7.1%	3.36%	14%	12.5%	7.9%
PEG	—	—	—	—	—	—	—	—	—	—	-0.03

Profitability

Metric	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26	Current
Gross margin	70.2%	72.4%	72.1%	72.8%	73.3%	75%	75.6%	77.4%	78.3%	79.4%	78.9%
Operating margin	5.68%	0.12%	-0.83%	2.28%	4.47%	5.68%	8.69%	7.67%	9.71%	12.9%	6.89%
Net margin	2.86%	8.09%	-8.06%	-0.31%	2.33%	4.19%	6.52%	-17.8%	-44.6%	11.1%	13.7%
ROE	1.37%	3.86%	-3.55%	-0.14%	0.96%	1.74%	2.94%	-7.81%	-23.5%	5.79%	7.54%
ROA	0.92%	2.37%	-2.24%	-0.09%	0.63%	1.12%	2.11%	-5.69%	-16.8%	4.06%	3.67%
ROIC	1.84%	0.05%	-0.35%	0%	1.65%	2.29%	3.91%	3.93%	7.18%	8.74%	10.5%
Return on tangible assets	-1.96%	-4.64%	4.89%	0.18%	-1.41%	-3.21%	-4.38%	14.4%	75.9%	-44.4%	-36%

Financial health

Metric	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26	Current
Current ratio	1.86	1.82	2.11	1.65	1.76	1.94	1.36	1.7	1.75	1.85	1.82
Quick ratio	1.77	1.74	2.05	1.6	1.71	1.89	1.32	1.67	1.72	1.82	1.78
Debt / equity	0.12	0.29	0.27	0.27	0.21	0.2	0.08	0.08	0.03	0.02	0.02
Debt / assets	0.08	0.18	0.17	0.17	0.14	0.13	0.06	0.06	0.02	0.02	0.02
Net debt / EBITDA	-0.63	1	0.47	1.02	-0.38	-1.96	-1.55	-1.79	-2.94	-3.54	-2.9
Interest coverage	6.68	-0.48	-2.55	1.09	3.05	6.33	7.68	-15.7	-50.1	70.5	82.5
Effective tax rate	36.2%	0%	0%	100%	13.2%	16.4%	12.8%	0%	0%	19.4%	13.7%

Per share

Metric	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26	Current
Revenue per share	12.6	11.3	11.6	11.9	11.4	11.6	12.7	11.6	11.5	11.9	12.3
EPS (basic)	0.36	0.91	-0.93	-0.04	0.26	0.5	0.83	-2.07	-5.12	1.33	1.33
EPS (diluted)	0.36	0.9	-0.93	-0.04	0.26	0.49	0.82	-2.07	-5.12	1.3	1.64
Book value per share	26.4	23.7	26.3	25.8	27.4	27.8	28.3	26.5	21.8	22.9	22.9
FCF per share	2.11	2.35	1.61	2.73	2.7	3.86	2.03	0.73	2.95	3.97	3.46
Cash per share	4.8	5.12	6.18	5.14	6.52	9.5	5.84	5.92	6.86	9.28	8.66
Capex per share	0.32	0.18	0.3	0.27	0.16	0.14	0.15	0.09	0.08	—	—

Capital allocation

Metric	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26	Current
Capex / revenue	2.56%	1.61%	2.57%	2.23%	1.44%	1.21%	1.15%	0.76%	0.66%	—	—
Capex / operating cash flow	12.1%	7.16%	28%	11.1%	7.33%	3.35%	7.6%	-5.68%	-2.36%	—	—
Payout ratio	—	—	—	—	—	—	—	—	—	—	0%

Period	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26	Q3 26	Q4 26	Q1 27
Revenue	$196.8M	$218.1M	$203.4M	$174.6M	$191.1M	$252M	$205M	$186.7M	$219M	$250.7M	$203M	$210.4M
YoY change	-13.7%	-19.1%	-2.23%	-17.3%	-2.89%	+15.6%	+0.76%	+6.98%	+14.6%	-0.53%	-0.95%	+12.7%

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26
Cash & short-term investments	442.8M	447.8M	486M	386.5M	476.5M	703.2M	419M	423.1M	491.5M	668M
Receivables	294.4M	213.4M	235.3M	213.5M	197.7M	148.2M	143.9M	192.1M	163.7M	151.5M
Inventory	40M	31.9M	23.4M	21.5M	19.4M	21.2M	17.5M	12.9M	11.1M	11.6M
Total current assets	854.5M	752.4M	801.2M	659.7M	722.5M	921.9M	617.4M	672.5M	713.2M	867.9M
Property, plant & equipment	61.4M	52.5M	59M	126.3M	110M	96.3M	86.2M	69M	59.2M	59.1M
Goodwill & intangibles	5.3B	5.1B	4.8B	4.6B	4.5B	4.3B	4.2B	3.6B	2.7B	2.6B
Total assets	3.6B	3.4B	3.3B	3.1B	3.1B	3.2B	2.8B	2.6B	2.2B	2.4B
Accounts payable	37.4M	30.1M	24.6M	20M	18M	22M	16.5M	14.5M	18.2M	23.5M
Short-term debt	—	—	—	10.3M	12.4M	11.4M	11.7M	12M	11M	9.9M
Total current liabilities	460.2M	413.3M	379.9M	399M	411.3M	476.2M	453.6M	395.1M	407.9M	470.1M
Long-term debt	300M	600M	550M	520.7M	411.3M	403.9M	148.8M	138.1M	32.5M	29.7M
Total liabilities	1.2B	1.3B	1.2B	1.2B	1.1B	1.1B	790.9M	703.2M	626.2M	705.3M
Shareholders' equity	2.4B	2.1B	2.1B	1.9B	2B	2.1B	2B	1.9B	1.6B	1.6B
Total debt	300M	600M	550M	531M	423.6M	415.3M	160.5M	150.1M	43.5M	39.6M
Net debt	-4.9M	230.2M	140.4M	192.5M	-43.6M	-220.8M	-226.3M	-239.6M	-413.9M	-546.9M

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26	Q3 26	Q4 26	Q1 27
Cash & short-term investments	328.6M	329.1M	423.1M	406.2M	400.9M	426.9M	491.5M	532.5M	516.9M	573M	668M	629.4M
Receivables	152.6M	221.6M	192.1M	129.3M	118.6M	214.6M	163.7M	92.2M	130.2M	234.6M	151.5M	80M
Inventory	15.5M	14.8M	12.9M	12.1M	12.9M	11.2M	11.1M	11.2M	9.9M	10.6M	11.6M	19.2M
Total current assets	540.5M	609.3M	672.5M	590M	583.7M	692.2M	713.2M	683.9M	708M	856.8M	867.9M	772.3M
Property, plant & equipment	77.6M	72.9M	69M	64.8M	61.7M	58.6M	59.2M	57.7M	59.7M	59.5M	59.1M	62.2M
Goodwill & intangibles	4.1B	3.8B	3.6B	2.7B	2.7B	2.7B	2.7B	2.6B	2.6B	2.6B	2.6B	2.6B
Total assets	2.7B	2.6B	2.6B	2.1B	2.1B	2.2B	2.2B	2.2B	2.2B	2.3B	2.4B	2.3B
Accounts payable	15.6M	15.1M	14.5M	15.9M	13.9M	13.7M	18.2M	14M	14.7M	17.2M	23.5M	23.5M
Short-term debt	11.7M	12M	12M	11.9M	11.9M	11M	11M	10.9M	10M	10.1M	9.9M	10.8M
Total current liabilities	359.1M	382.3M	395.1M	383.2M	347.1M	381.8M	407.9M	387M	377.4M	442.6M	470.1M	423.1M
Long-term debt	143.7M	140.9M	138.1M	110.2M	108.5M	106.8M	32.5M	30.6M	33.5M	31.8M	29.7M	29.1M
Total liabilities	658M	685.9M	703.2M	653.4M	611.3M	654.2M	626.2M	609.9M	602.6M	680.4M	705.3M	647.8M
Shareholders' equity	2B	1.9B	1.9B	1.4B	1.5B	1.5B	1.6B	1.5B	1.6B	1.6B	1.6B	1.7B
Total debt	155.3M	152.9M	150.1M	122.1M	120.4M	117.8M	43.5M	41.5M	43.5M	41.8M	39.6M	40M
Net debt	-124.6M	-144.8M	-239.6M	-240.1M	-243M	-280.6M	-413.9M	-448M	-439.8M	-498.8M	-546.9M	-512.8M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26
Net income	33.3M	79.8M	-73.3M	-2.8M	19.4M	35.9M	59.6M	-147.7M	-366.9M	95.5M
Depreciation & amortization	160.9M	153.5M	137.9M	116.1M	105.8M	95.8M	85.9M	75M	63.8M	56.5M
Stock-based compensation	39.2M	47.3M	56.3M	50.9M	51.9M	56.1M	62M	70.8M	64.8M	59.9M
Change in working capital	22.9M	69.3M	-5.4M	13.8M	487K	124.6M	-26.2M	-68.8M	37.1M	52.5M
Operating cash flow	245.3M	222.4M	83.5M	179.3M	163.6M	309.1M	137.9M	-111.6M	-228.8M	294.5M
Capital expenditure	-29.7M	-15.9M	-23.4M	-19.9M	-12M	-10.3M	-10.5M	-6.3M	-5.4M	—
Investing cash flow	-39.2M	57.8M	-26.1M	-4.3M	29.2M	-68.3M	15.5M	13.4M	-5.7M	-83.7M
Dividends paid	—	—	—	—	—	—	—	—	—	—
Share repurchases	-80M	-501.3M	-14.5M	-175M	-3.3M	-35.7M	-150M	-50M	-25.3M	-60.8M
Financing cash flow	-89.6M	-221M	-79.3M	-286.9M	-118.3M	-54.2M	-419.4M	-69.4M	-142M	-76.7M
Net change in cash	116.6M	59.2M	-22M	-111.9M	74.5M	186.6M	-266M	-167.6M	-376.5M	134.1M
Free cash flow	194.6M	205.9M	126.3M	205.1M	197.4M	285.6M	146M	52.5M	211M	285.4M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26	Q3 26	Q4 26	Q1 27
Net income	21.5M	-132.6M	-32.4M	-443.4M	9M	48.8M	18.6M	-3.7M	25.8M	55.1M	18.2M	21.8M
Depreciation & amortization	16.4M	18.5M	18.1M	19M	18.7M	18.3M	7.7M	17M	19.4M	16M	6.8M	14.4M
Stock-based compensation	18.4M	16.4M	16.1M	21.2M	14.9M	14.5M	14.2M	20M	13.6M	13.8M	12.6M	18M
Change in working capital	-54.8M	-47.6M	40.8M	27.7M	-16.2M	-64.9M	90.6M	60M	-57M	-46.6M	96.1M	37.6M
Operating cash flow	-3.6M	-158.5M	31.2M	-401.4M	19.9M	14M	138.7M	73.6M	6.7M	62.1M	152.3M	50.8M
Capital expenditure	-1.5M	-1.2M	-1.6M	-1.3M	-882K	-1.9M	-1.4M	—	—	—	—	-2.9M
Investing cash flow	3.9M	20.4M	-46K	-3.1M	5.2M	1.2M	-9M	-15.4M	7M	-2M	-73.3M	-54.4M
Dividends paid	—	—	—	—	—	—	—	—	—	—	—	—
Share repurchases	-31.1M	-18.9M	0	-25M	-257K	0	0	-15M	-16.6M	-1K	-29.2M	0
Financing cash flow	-36.4M	-19.3M	-204K	-62.2M	-1.6M	-77.8M	-75.5M	-28.8M	-18M	-490K	-29.4M	-25.3M
Net change in cash	-36.2M	-157.4M	30.9M	-466.6M	23.5M	-62.6M	54.2M	29.4M	-4.4M	59.6M	49.5M	-28.9M
Free cash flow	-27.9M	12.7M	92M	37.2M	-5.9M	39.6M	140.1M	71.7M	4.4M	59.3M	150.1M	44.3M

NetScout Systems, Inc. Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement