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
Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores
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.
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.
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.
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.
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.
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.
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.
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.
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
Earnings & Revenue
Netgear Inc generated $699.6M in revenue in fiscal year 2025. This represents an increase of 3.8% from the prior year.
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.
Netgear Inc reported -$17.9M in net income in fiscal year 2025. This represents a decrease of 245.0% from the prior year.
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
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.
Netgear Inc held $209.9M in cash against $0 in long-term debt as of fiscal year 2025.
Netgear Inc had 28M shares outstanding in fiscal year 2025. This represents a decrease of 2.6% from the prior year.
Margins & Returns
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.
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.
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.
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
Netgear Inc invested $85.7M in research and development in fiscal year 2025. This represents an increase of 5.7% from the prior year.
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.
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% |
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Frequently Asked Questions
What is Netgear Inc's annual revenue?
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.
How fast is Netgear Inc's revenue growing?
Netgear Inc (NTGR) revenue grew by 3.8% year-over-year, from $673.8M to $699.6M in fiscal year 2025.
Is Netgear Inc profitable?
No, Netgear Inc (NTGR) reported a net income of -$17.9M in fiscal year 2025, with a net profit margin of -2.6%.
What is Netgear Inc's EBITDA?
Netgear Inc (NTGR) had EBITDA of -$26.2M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is Netgear Inc's gross margin?
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.
What is Netgear Inc's operating margin?
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.
What is Netgear Inc's net profit margin?
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.
What is Netgear Inc's return on equity (ROE)?
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.
What is Netgear Inc's free cash flow?
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.
What is Netgear Inc's operating cash flow?
Netgear Inc (NTGR) generated $1.6M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Netgear Inc's total assets?
Netgear Inc (NTGR) had $836.3M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Netgear Inc's capital expenditures?
Netgear Inc (NTGR) invested $20.5M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Netgear Inc spend on research and development?
Netgear Inc (NTGR) invested $85.7M in research and development during fiscal year 2025.
What is Netgear Inc's current ratio?
Netgear Inc (NTGR) had a current ratio of 2.69 as of fiscal year 2025, which is generally considered healthy.
What is Netgear Inc's debt-to-equity ratio?
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.
What is Netgear Inc's return on assets (ROA)?
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.
What is Netgear Inc's Piotroski F-Score?
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.
Are Netgear Inc's earnings high quality?
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.
Can Netgear Inc cover its interest payments?
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.
How financially healthy is Netgear Inc?
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.