Netgear IncNetgear Inc
Netgear Inc

Netgear Inc

NTGR
Information Technology·Communications Equipment

NETGEAR, Inc. operates as a global provider of networking technologies for businesses, homes, and service providers. It delivers a range of networking hardware, software, and services designed to enable reliable connectivity and security. The company operates through the Enterprise and Consumer segments. The Enterprise segment includes small and medium enterprises and provides solutions for audio and video over Ethernet for AV applications, enterprise networking solutions, including wireless local area network and cloud-managed networking capabilities, software platforms for deployment and remote management , and security offerings, including firewall and SASE functionality, designed to address the networking, security, and manageability requirements of organizations seeking reliable and cost-effective connectivity solutions. The Consumer segment focuses on consumers and provides high-performance, dependable and easy-to-use WiFi internet networking solutions such as multi-band WiFi 7 mesh systems and routers, subscription services offering performance, security, privacy and support, and 4G/5G mobile products, including WiFi 7 and WiFi 6/6E-enabled portable mobile hotspots and mobile routers, designed to address the demand for reliable, high-speed connectivity at home and on the go. The company was founded by Patrick C. S. Lo and Mark G. Merrill on January 8, 1996 and is headquartered in San Jose, CA.

California; U.S.A
Market cap
$630.8MNo data
Revenue
$699.6M+3.8% YoY
Net income
$-17.9M−245.0% YoY
Free cash flow
$-18.9M−112.1% YoY

Market

Listed stock
NTGRPriceNasdaq
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Financial performance

Revenue
$699.6M+3.8% YoY
Operating income
$-34.2M−379.6% YoY
Net income
$-17.9M−245.0% YoY
Free cash flow
$-18.9M−112.1% YoY

Revenue, profit & cash trend

Revenue
Operating income
Net income
Free cash flow
Reference
Revenue: 2021 $1.2B, 2022 $932.5M, 2023 $740.8M, 2024 $673.8M, 2025 $699.6M. Operating income: 2021 $66.6M, 2022 $-82.9M, 2023 $-33.3M, 2024 $12.2M, 2025 $-34.2M. Net income: 2021 $49.4M, 2022 $-69M, 2023 $-104.8M, 2024 $12.4M, 2025 $-17.9M. Free cash flow: 2021 $-14.4M, 2022 $-19.5M, 2023 $51.1M, 2024 $155.8M, 2025 $-18.9M. Reference line: Reference at $0.

Growth & profitability

Revenue growth
3.8%+1289 bps YoY
Gross margin
No dataNo data
Operating margin
No dataNo data
FCF margin
No dataNo data

Earnings power over time

Operating income
Net income
Free cash flow
Operating income: 2021-12-31 $66.6M, 2022-12-31 $-82.9M, 2023-12-31 $-33.3M, 2024-12-31 $12.2M, 2025-12-31 $-34.2M. Net income: 2021-12-31 $49.4M, 2022-12-31 $-69M, 2023-12-31 $-104.8M, 2024-12-31 $12.4M, 2025-12-31 $-17.9M. Free cash flow: 2021-12-31 $-14.4M, 2022-12-31 $-19.5M, 2023-12-31 $51.1M, 2024-12-31 $155.8M, 2025-12-31 $-18.9M

Growth heatmap

2022202320242025CAGR
Revenue
-20.2%
-20.6%
-9.1%
+3.8%
-12.0%
Gross profit
-31.5%
-0.5%
-21.4%
+35.9%
-7.6%
Operating income
-224.5%
+59.9%
+136.7%
-379.6%
No data
Free cash flow
-34.9%
+362.0%
+205.2%
-112.1%
No data

Earnings quality

Operating cash flow
$1.6M−99.0% YoY
Net income
$-17.9M−245.0% YoY
Free cash flow
$-18.9M−112.1% YoY
Diluted EPS
No dataNo data

Cash conversion quality

Operating cash flow
Free cash flow
Net income = 100%
Operating cash flow: 2025-12-31 -9%, 2024-12-31 1333%, 2023-12-31 -54%, 2022-12-31 20%, 2021-12-31 -9%. Free cash flow: 2025-12-31 106%, 2024-12-31 1260%, 2023-12-31 -49%, 2022-12-31 28%, 2021-12-31 -29%. Reference line: Net income = 100% at 100%.

Per-share economics

Diluted EPS
Latest
No data
FCF / share
Latest
No data
Diluted shares
Latest
No data

Financial flexibility

Cash & equivalents
No dataNo data
Total debt
No dataNo data
Net debt
No dataNo data
Current ratio
No dataNo data

Cash Coverage of Debt

Cash / Total debt
No data

Returns

Return on equity
No dataNo data
Return on assets
No dataNo data
Return on invested capital
No dataNo data
Asset turnover
No dataNo data

Return on capital

No data

Valuation

Price to earnings
No dataNo data
Price to sales
No dataNo data
EV / EBITDA
No dataNo data
Free cash flow yield
No dataNo data

Valuation vs its own 5Y history

Metric
Own five-year range
Current
Own 5Y median
Position in own range
Price to earnings
No data
No data
No data
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Price to sales
No data
No data
No data
No data
EV / EBITDA
No data
No data
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Free cash flow yield
No data
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