STOCK TITAN

Netgear Inc Financials

NTGR
Source SEC Filings (10-K/10-Q) Updated Dec 31, 2025 Currency USD FYE December

This page shows Netgear Inc (NTGR) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 17 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Financial Health Signals

Profitability Growth Leverage Liquidity Cash Flow Returns 35 / 100
Financial Profile 35/100

Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores

Profitability
11

Netgear Inc has an operating margin of -4.9%, meaning the company retains $-5 of operating profit per $100 of revenue. This below-average margin results in a low score of 11/100, suggesting thin profitability after operating expenses. This is down from 1.8% the prior year.

Growth
40

Netgear Inc's revenue grew a modest 3.8% year-over-year to $699.6M. This slow but positive growth earns a score of 40/100.

Leverage
88

Netgear Inc carries a low D/E ratio of 0.68, meaning only $0.68 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 88/100, indicating a strong balance sheet with room for future borrowing.

Liquidity
51

Netgear Inc's current ratio of 2.69 indicates adequate short-term liquidity, earning a score of 51/100. The company can meet its near-term obligations, though with limited headroom.

Cash Flow
18

While Netgear Inc generated $1.6M in operating cash flow, capex of $20.5M consumed most of it, leaving -$18.9M in free cash flow. This results in a low score of 18/100, reflecting heavy capital investment rather than weak cash generation.

Returns
3

Netgear Inc generates a -3.6% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 3/100. This is down from 2.3% the prior year.

Piotroski F-Score Neutral
5/9

Netgear Inc passes 5 of 9 financial strength tests. 2 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, both operating efficiency signals pass.

Earnings Quality Mixed
-0.09x

For every $1 of reported earnings, Netgear Inc generates $-0.09 in operating cash flow ($1.6M OCF vs -$17.9M net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.

Interest Coverage At Risk
-2.9x

Netgear Inc earns $-2.9 in operating income for every $1 of interest expense (-$34.2M vs $11.6M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.

Key Financial Metrics

Export CSV

Earnings & Revenue

Revenue
$699.6M
YoY+3.8%
5Y CAGR-11.0%
10Y CAGR-6.0%

Netgear Inc generated $699.6M in revenue in fiscal year 2025. This represents an increase of 3.8% from the prior year.

EBITDA
-$26.2M
YoY-239.6%

Netgear Inc's EBITDA was -$26.2M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 239.6% from the prior year.

Net Income
-$17.9M
YoY-245.0%

Netgear Inc reported -$17.9M in net income in fiscal year 2025. This represents a decrease of 245.0% from the prior year.

EPS (Diluted)
$-0.63
YoY-250.0%

Netgear Inc earned $-0.63 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 250.0% from the prior year.

Cash & Balance Sheet

Free Cash Flow
-$18.9M
YoY-112.1%

Netgear Inc generated -$18.9M in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 112.1% from the prior year.

Cash & Debt
$209.9M
YoY-26.7%
5Y CAGR-9.5%
10Y CAGR+1.4%

Netgear Inc held $209.9M in cash against $0 in long-term debt as of fiscal year 2025.

Dividends Per Share
N/A
Shares Outstanding
28M
YoY-2.6%
5Y CAGR-1.7%
10Y CAGR-1.4%

Netgear Inc had 28M shares outstanding in fiscal year 2025. This represents a decrease of 2.6% from the prior year.

Margins & Returns

Gross Margin
38.0%
YoY+9.0pp
5Y CAGR+8.4pp
10Y CAGR+9.8pp

Netgear Inc's gross margin was 38.0% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is up 9.0 percentage points from the prior year.

Operating Margin
-4.9%
YoY-6.7pp
5Y CAGR-10.9pp
10Y CAGR-11.4pp

Netgear Inc's operating margin was -4.9% in fiscal year 2025, reflecting core business profitability. This is down 6.7 percentage points from the prior year.

Net Margin
-2.6%
YoY-4.4pp
5Y CAGR-7.2pp
10Y CAGR-6.3pp

Netgear Inc's net profit margin was -2.6% in fiscal year 2025, showing the share of revenue converted to profit. This is down 4.4 percentage points from the prior year.

Return on Equity
-3.6%
YoY-5.9pp
5Y CAGR-12.1pp
10Y CAGR-10.5pp

Netgear Inc's ROE was -3.6% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 5.9 percentage points from the prior year.

Capital Allocation

R&D Spending
$85.7M
YoY+5.7%
5Y CAGR-0.7%
10Y CAGR-0.1%

Netgear Inc invested $85.7M in research and development in fiscal year 2025. This represents an increase of 5.7% from the prior year.

Share Buybacks
$50.7M
YoY+53.1%
5Y CAGR+16.3%
10Y CAGR-8.1%

Netgear Inc spent $50.7M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents an increase of 53.1% from the prior year.

Capital Expenditures
$20.5M
YoY+128.1%
5Y CAGR+14.8%
10Y CAGR+3.9%

Netgear Inc invested $20.5M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 128.1% from the prior year.

NTGR Income Statement

Metric Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24 Q1'24
Revenue $182.5M-1.1% $184.6M+8.2% $170.5M+5.2% $162.1M-11.2% $182.4M-0.2% $182.9M+27.1% $143.9M-12.6% $164.6M
Cost of Revenue $108.8M-3.1% $112.3M+5.4% $106.6M+0.8% $105.7M-14.1% $123.0M-2.6% $126.4M+12.8% $112.1M-3.7% $116.3M
Gross Profit $73.6M+1.9% $72.3M+12.9% $64.0M+13.6% $56.3M-5.1% $59.4M+5.1% $56.5M+77.5% $31.8M-34.0% $48.2M
R&D Expenses $23.2M-0.4% $23.3M+11.9% $20.8M+13.9% $18.3M-8.9% $20.1M-3.9% $20.9M+5.3% $19.9M-1.9% $20.2M
SG&A Expenses $19.5M-5.2% $20.6M-0.3% $20.7M+14.5% $18.1M+1.2% $17.9M+113.7% $8.4M-56.4% $19.2M+6.2% $18.1M
Operating Income -$4.7M+32.9% -$7.1M+25.9% -$9.5M+25.5% -$12.8M+15.2% -$15.1M-115.7% $95.8M+304.5% -$46.9M-116.5% -$21.6M
Interest Expense N/A N/A N/A N/A N/A N/A N/A N/A
Income Tax -$1.9M-352.6% $736K-14.8% $864K-38.5% $1.4M+154.6% -$2.6M-118.1% $14.2M+1281.8% $1.0M+795.3% -$148K
Net Income -$684K+85.7% -$4.8M+25.7% -$6.4M-6.5% -$6.0M+32.1% -$8.9M-110.4% $85.1M+288.3% -$45.2M-142.2% -$18.6M
EPS (Diluted) N/A $-0.17+22.7% $-0.22-4.8% $-0.21 N/A $2.90+285.9% $-1.56-147.6% $-0.63

NTGR Balance Sheet

Metric Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24 Q1'24
Total Assets $836.3M+3.1% $810.8M+0.9% $803.5M-1.3% $814.2M-4.2% $850.2M-1.4% $862.6M+14.4% $754.1M-5.9% $801.3M
Current Assets $673.3M-1.3% $681.9M-2.4% $698.7M-3.5% $723.7M-4.5% $758.0M-1.5% $769.3M+17.0% $657.6M-6.5% $703.6M
Cash & Equivalents $209.9M+3.2% $203.5M-15.6% $241.0M-10.7% $269.8M-5.8% $286.4M+4.6% $273.8M+54.6% $177.1M+2.6% $172.7M
Inventory $176.5M+5.9% $166.6M+5.9% $157.3M-0.4% $157.9M-2.9% $162.5M+0.3% $162.0M-14.3% $188.9M-10.6% $211.3M
Accounts Receivable $142.0M-11.2% $159.9M+10.4% $144.9M+1.5% $142.7M-8.6% $156.2M-11.9% $177.3M+20.6% $147.1M-14.9% $172.8M
Goodwill $45.0M-1.7% $45.8M0.0% $45.8M+26.2% $36.3M0.0% $36.3M0.0% $36.3M0.0% $36.3M0.0% $36.3M
Total Liabilities $338.4M+11.3% $304.0M+8.4% $280.4M+0.2% $280.0M-9.4% $309.2M-1.0% $312.3M+6.0% $294.7M+1.6% $289.9M
Current Liabilities $250.2M+4.6% $239.2M-1.6% $243.1M+0.5% $242.0M-10.4% $270.1M-0.5% $271.4M+7.2% $253.0M+3.6% $244.3M
Long-Term Debt N/A N/A N/A N/A N/A N/A N/A N/A
Total Equity $497.8M-1.8% $506.8M-3.1% $523.2M-2.1% $534.2M-1.3% $541.1M-1.7% $550.3M+19.8% $459.4M-10.2% $511.4M
Retained Earnings -$538.9M-3.4% -$521.1M-5.4% -$494.3M-3.9% -$475.8M-4.1% -$457.1M-4.5% -$437.4M+16.0% -$520.6M-12.5% -$462.9M

NTGR Cash Flow Statement

Metric Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24 Q1'24
Operating Cash Flow $19.5M+364.3% -$7.4M-316.8% -$1.8M+79.8% -$8.7M-140.7% $21.5M-80.1% $107.7M+483.8% $18.4M+7.3% $17.2M
Capital Expenditures $5.9M-39.4% $9.7M+174.8% $3.5M+152.9% $1.4M-44.0% $2.5M+47.9% $1.7M-27.0% $2.3M-8.1% $2.5M
Free Cash Flow $13.6M+179.7% -$17.1M-222.3% -$5.3M+47.7% -$10.1M-153.4% $19.0M-82.1% $106.0M+556.8% $16.1M+9.9% $14.7M
Investing Cash Flow $3.9M+140.6% -$9.7M+38.2% -$15.6M-1141.3% -$1.3M+44.4% -$2.3M+79.4% -$11.0M-601.5% -$1.6M+86.2% -$11.3M
Financing Cash Flow -$17.0M+17.1% -$20.5M-80.1% -$11.4M-71.8% -$6.6M-1.3% -$6.5M-20993.5% -$31K+99.8% -$12.4M-25.4% -$9.9M
Dividends Paid N/A N/A N/A N/A N/A N/A N/A N/A
Share Buybacks $15.0M-25.0% $20.0M+166.7% $7.5M-8.1% $8.2M-19.8% $10.2M+590.5% $1.5M-85.3% $10.0M-12.6% $11.4M

NTGR Financial Ratios

Metric Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24 Q1'24
Gross Margin 40.4%+1.2pp 39.1%+1.6pp 37.5%+2.8pp 34.8%+2.2pp 32.6%+1.7pp 30.9%+8.8pp 22.1%-7.2pp 29.3%
Operating Margin -2.6%+1.2pp -3.8%+1.8pp -5.6%+2.3pp -7.9%+0.4pp -8.3%-60.7pp 52.4%+85.0pp -32.6%-19.4pp -13.2%
Net Margin -0.4%+2.2pp -2.6%+1.2pp -3.8%-0.1pp -3.7%+1.2pp -4.9%-51.4pp 46.5%+77.9pp -31.4%-20.1pp -11.3%
Return on Equity -0.1%+0.8pp -0.9%+0.3pp -1.2%-0.1pp -1.1%+0.5pp -1.6%-17.1pp 15.5%+25.3pp -9.8%-6.2pp -3.6%
Return on Assets -0.1%+0.5pp -0.6%+0.2pp -0.8%-0.1pp -0.7%+0.3pp -1.1%-10.9pp 9.9%+15.8pp -6.0%-3.7pp -2.3%
Current Ratio 2.69-0.2 2.85-0.0 2.87-0.1 2.99+0.2 2.81-0.0 2.84+0.2 2.60-0.3 2.88
Debt-to-Equity 0.68+0.1 0.60+0.1 0.54+0.0 0.52-0.0 0.570.0 0.57-0.1 0.64+0.1 0.57
FCF Margin 7.5%+16.7pp -9.3%-6.2pp -3.1%+3.1pp -6.3%-16.7pp 10.4%-47.6pp 58.0%+46.8pp 11.2%+2.3pp 8.9%

Similar Companies

Frequently Asked Questions

Netgear Inc (NTGR) reported $699.6M in total revenue for fiscal year 2025. This represents a 3.8% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

Netgear Inc (NTGR) revenue grew by 3.8% year-over-year, from $673.8M to $699.6M in fiscal year 2025.

No, Netgear Inc (NTGR) reported a net income of -$17.9M in fiscal year 2025, with a net profit margin of -2.6%.

Netgear Inc (NTGR) reported diluted earnings per share of $-0.63 for fiscal year 2025. This represents a -250.0% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Netgear Inc (NTGR) had EBITDA of -$26.2M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

Netgear Inc (NTGR) had a gross margin of 38.0% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

Netgear Inc (NTGR) had an operating margin of -4.9% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

Netgear Inc (NTGR) had a net profit margin of -2.6% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

Netgear Inc (NTGR) has a return on equity of -3.6% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

Netgear Inc (NTGR) generated -$18.9M in free cash flow during fiscal year 2025. This represents a -112.1% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

Netgear Inc (NTGR) generated $1.6M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

Netgear Inc (NTGR) had $836.3M in total assets as of fiscal year 2025, including both current and long-term assets.

Netgear Inc (NTGR) invested $20.5M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

Netgear Inc (NTGR) invested $85.7M in research and development during fiscal year 2025.

Yes, Netgear Inc (NTGR) spent $50.7M on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

Netgear Inc (NTGR) had 28M shares outstanding as of fiscal year 2025.

Netgear Inc (NTGR) had a current ratio of 2.69 as of fiscal year 2025, which is generally considered healthy.

Netgear Inc (NTGR) had a debt-to-equity ratio of 0.68 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

Netgear Inc (NTGR) had a return on assets of -2.1% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

Netgear Inc (NTGR) has a Piotroski F-Score of 5 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Netgear Inc (NTGR) has an earnings quality ratio of -0.09x, considered mixed quality. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Netgear Inc (NTGR) has an interest coverage ratio of -2.9x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.

Netgear Inc (NTGR) scores 35 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.

Back to top