| Stage | FLEX | % of rev | NTAP | % of rev | Gap · A − B |
|---|---|---|---|---|---|
| Revenue | $8.5B | 100.00% | $1.7B | 100.00% | FLEX ×4.96 |
| Gross profit | $812M | 9.56% | $1.2B | 70.58% | NTAP +61.0pp |
| Operating income | $414M | 4.88% | $434M | 25.34% | NTAP +20.5pp |
| Pre-tax income | $370M | 4.36% | $433M | 25.28% | NTAP +20.9pp |
| Net income | $263M | 3.10% | $334M | 19.50% | NTAP +16.4pp |
| Stage | FLEX | NTAP | Gap · A − B |
|---|---|---|---|
| Revenue | $8.5B100.00% | $1.7B100.00% | FLEX ×4.96 |
| Gross profit | 9.56%$812M | 70.58%$1.2B | NTAP +61.0pp |
| Operating income | 4.88%$414M | 25.34%$434M | NTAP +20.5pp |
| Pre-tax income | 4.36%$370M | 25.28%$433M | NTAP +20.9pp |
| Net income |
| 3.10%$263M |
| 19.50%$334M |
| NTAP +16.4pp |
FLEX · TDC 10-KFeb 27 '26
“Our hardware components are assembled and configured by Flex Ltd. ("Flex").”
NTAP · TDC 10-KFeb 27 '26
“In addition, we buy servers from Dell Technologies Inc., storage disk systems from NetApp, Inc., and graphics processing units ("GPU") from NVIDIA.”