NetScout Systems (NTCT) financial statements
NetScout Systems reported revenue of $859M in fiscal 2026, down 3.3% a year over 9 years.
Net income was $96M and the operating margin 12.8%, against 5.3% in 2017.
Free cash flow was $285M, and the company returned $61M in net buybacks.
The diluted share count fell 21% over the period (buybacks).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from NetScout Systems's 10-K filings with the SEC.
| Fiscal year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.2B | $987M | $910M | $892M | $831M | $856M | $915M | $829M | $823M | $859M |
| Cost of revenue | $346M | $272M | $254M | $242M | $222M | $214M | $223M | $187M | $179M | $177M |
| Gross profit | $816M | $715M | $656M | $650M | $609M | $641M | $691M | $642M | $644M | $682M |
| Research and development | $233M | $215M | $204M | $188M | $179M | $171M | $176M | $161M | $153M | $159M |
| Selling, general and admin | $447M | $422M | $385M | $377M | $332M | $362M | $380M | $367M | $365M | $368M |
| Operating income | $62M | -$4M | -$72M | $18M | $37M | $49M | $78M | -$150M | -$368M | $110M |
| Interest expense | $9M | $13M | $26M | $21M | $11M | $8M | $10M | $9M | $7M | $2M |
| Pre-tax income | $52M | -$19M | -$93M | $2M | $22M | $43M | $68M | -$145M | -$366M | $119M |
| Income tax | $19M | -$98M | -$20M | $5M | $3M | $7M | $9M | $3M | $1M | $23M |
| Net income | $33M | $80M | -$73M | -$3M | $19M | $36M | $60M | -$148M | -$367M | $96M |
| EPS (diluted) | $0.36 | $0.90 | -$0.93 | -$0.04 | $0.26 | $0.48 | $0.82 | -$2.07 | -$5.12 | $1.30 |
| Diluted shares | 93M | 88M | 79M | 75M | 74M | 75M | 73M | 71M | 72M | 73M |
| Gross margin | 70.2% | 72.4% | 72.1% | 72.8% | 73.3% | 75.0% | 75.6% | 77.4% | 78.3% | 79.4% |
| Operating margin | 5.3% | -0.4% | -7.9% | 2.0% | 4.5% | 5.7% | 8.5% | -18.1% | -44.7% | 12.8% |
| Net margin | 2.9% | 8.1% | -8.1% | -0.3% | 2.3% | 4.2% | 6.5% | -17.8% | -44.6% | 11.1% |
Balance sheet
Fiscal years, from NetScout Systems's 10-K filings with the SEC.
| Fiscal year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $443M | $448M | $486M | $386M | $476M | $703M | $419M | $390M | $457M | $586M |
| Receivables | $294M | $213M | $235M | $214M | $198M | $148M | $144M | $192M | $164M | $151M |
| Inventory | $40M | $35M | $26M | $22M | $23M | $28M | $18M | $14M | $13M | $13M |
| Total current assets | $854M | $752M | $801M | $660M | $722M | $922M | $617M | $672M | $713M | $868M |
| Property, plant and equipment | $61M | $53M | $59M | $58M | $48M | $41M | $35M | $26M | $22M | $24M |
| Goodwill | $1.7B | $1.7B | $1.7B | $1.7B | $1.7B | $1.7B | $1.7B | $1.5B | $1.1B | $1.1B |
| Total assets | $3.6B | $3.4B | $3.3B | $3.1B | $3.1B | $3.2B | $2.8B | $2.6B | $2.2B | $2.4B |
| Total current liabilities | $460M | $413M | $380M | $399M | $411M | $476M | $454M | $395M | $408M | $470M |
| Long-term debt | $300M | $600M | $550M | $450M | $350M | $350M | $100M | $100M | $0 | — |
| Total liabilities | $1.2B | $1.3B | $1.2B | $1.2B | $1.1B | $1.1B | $791M | $703M | $626M | $705M |
| Shareholders' equity | $2.4B | $2.1B | $2.1B | $1.9B | $2.0B | $2.1B | $2.0B | $1.9B | $1.6B | $1.6B |
| Net debt | -$5M | $230M | $140M | $112M | -$117M | -$286M | -$287M | -$290M | -$457M | -$586M |
Cash flow
Fiscal years, from NetScout Systems's 10-K filings with the SEC.
| Fiscal year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $227M | $222M | $150M | $225M | $214M | $296M | $157M | $59M | $218M | $295M |
| Capital spending | $31M | $16M | $24M | $20M | $12M | $10M | $10M | $6M | $5M | $9M |
| Free cash flow | $196M | $206M | $126M | $205M | $202M | $286M | $146M | $52M | $212M | $285M |
| Stock-based compensation | $39M | $47M | $56M | $51M | $52M | $56M | $62M | $71M | $65M | $60M |
| Share buybacks (net) | -$80M | -$501M | -$14M | -$175M | -$3M | -$36M | -$150M | -$50M | -$25M | -$61M |
| Net borrowing | $0 | $295M | -$50M | -$100M | -$100M | $0 | -$250M | $0 | -$100M | $0 |
| Free cash flow margin | 16.8% | 20.9% | 13.9% | 23.0% | 24.3% | 33.4% | 16.0% | 6.3% | 25.8% | 33.2% |
Questions
What was NetScout Systems's revenue in 2026?
$859M in fiscal 2026, from its 10-K filing.
How much free cash flow does NetScout Systems generate?
$285M in fiscal 2026 (operating cash flow minus capital spending).
From NetScout Systems's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.