Who are NetApp, Inc.'s customers? Who does NetApp, Inc. earn revenue from?

Revenue comes from counterparties including TD SYNNEX Corporation, Arrow Electronics, Inc.. Full sourced list: valuechain.wiki/netapp/customers.md

Who does NetApp, Inc. pay? Who are its key suppliers?

Costs flow to Broadcom Inc., Jabil among others. Full sourced list: valuechain.wiki/netapp/suppliers.md

Enterprise data infrastructure

NetApp, Inc.

NetApp sells ONTAP-based storage systems, support, and public-cloud data services to enterprise customers. A substantial portion of revenue flows through large IT distributors, while the company spends on hardware components, contract manufacturing, and cloud infrastructure.

Business categories Data Storage · AI Compute Infrastructure · primary

NTAP Updated Sep 23, 2026 6 AI consumers· 2 recurring

Per the valuechain.wiki graph, NetApp, Inc. is directly linked to 2 companies (2 supply, 0 revenue relationships) and reaches 9 companies within two hops; the links are backed by 8 dated sources, 2 of them primary filings (as of 2026-09-23).

Annual return · 2026-09-04'21+42.5%'22-32.9%'23+51.1%'24+34.2%'25-5.9%YTD+75.6%

Money in ▸TD SYNNEX Corporation●Revenue share 24 percentArrow Electronics, Inc.●Revenue share 21 percent

NetApp, Inc.US$6.925 billion in total revenue for FY2026

▸ Money outBroadcom Inc.◐Jabil◐

Financials & Segments

Total revenue · US$6.925 billion in total revenue for FY2026 (SEC 10-K XBRL)
Segments · Hybrid Cloud · Public Cloud

Revenue from

TD SYNNEX Corporation High confidence· Revenue share 24 percent · FY2025 · Share of NetApp net revenue attributable to TD SYNNEX
TD SYNNEX is NetApp's largest publicly identified distribution customer. It represented 24% of fiscal 2025 net revenue and was subsequently named NetApp's North America Distributor of the Year.
Confirms EN TD SYNNEX Investor Relations Published Aug 13, 2025: TD SYNNEX Is Named NetApp North America Distributor of the Year for FY25
Confirms EN SEC EDGAR Published Jun 9, 2025: NetApp, Inc. Fiscal 2025 Annual Report on Form 10-K
Arrow Electronics, Inc. High confidence· Revenue share 21 percent · FY2025 · Share of NetApp net revenue attributable to Arrow Electronics
Arrow Electronics is a major distribution customer that resells NetApp products. It accounted for 21% of NetApp's fiscal 2025 net revenue.
Confirms EN SEC EDGAR Published Jun 9, 2025: NetApp, Inc. Fiscal 2025 Annual Report on Form 10-K

Pays to

Broadcom Inc. Medium confidence
Broadcom is an OEM partner whose Emulex host bus adapters and Brocade Fibre Channel switches are used in NetApp storage configurations. Supplier-specific purchasing value is not disclosed.
Mentions KO Korea Trade-Investment Promotion Agency Published Jan 8, 2025: Promising Products and Market Entry Strategies amid Rising U.S. AI Data Center Demand
Confirms EN NetApp Published Nov 13, 2019: NetApp Reports Second Quarter of Fiscal Year 2020 Results
Jabil Medium confidence
Jabil is identified as a contract manufacturer for NetApp hardware. NetApp outsources production but does not disclose manufacturing payments to Jabil individually.
Mentions EN The Buildout Published Sep 22, 2026: NetApp, Inc. (NTAP): AI Infrastructure
Confirms EN SEC EDGAR Published Jun 5, 2026: NetApp, Inc. Fiscal 2026 Annual Report on Form 10-K
Confirms EN Electronics Watch Published Nov 5, 2022: Regional Risk Assessment: The Electronics Industry in Hungary

Investments

Instaclustr High confidence
NetApp completed its acquisition of Instaclustr, a provider of managed open-source databases and data-pipeline services. The purchase price was not disclosed.
Confirms EN NetApp Published May 24, 2022: NetApp Closes Acquisition of Instaclustr

Value-chain ripple (2 tiers)

Following node-to-node links up to 2 tiers; each firm is shown once, at its nearest tier.

Company	Chain	'21	'22	'23	'24	'25	YTD
NetApp, Inc.	node	+42.5	-32.9	+51.1	+34.2	-5.9	+75.6
Jabil	benef1	+66.4	-2.5	+87.4	+13.3	+58.7	+36.3
Broadcom	benef1	+56.5	-13.3	+104.2	+110.5	+50.6	+5
Micron Technology	benef2	+24.2	-45.9	+71.9	-1	+240.2	+256.4
United Microelectronics (UMC)	benef2	+43.2	-40.3	+39.2	-19	+28.8	+197.3
SK hynix	benef2	-0.4	-25.6	+53.9	+48.6	+361.1	+85.3
Samsung Electronics	benef2	-9	-14.2	+20.9	-26.4	+212.9	+63.8
Keysight Technologies	benef2	+56.3	-17.2	-7	+1	+26.5	+61
TSMC	benef2	+12.1	-36.7	+42.3	+92.6	+55.9	+50.3
Toppan Printing	benef2	+49.3	-2.1	+99.1	+8.1	+10.7	+7.2

YTD as of 2026-09-04 · source: Yahoo Finance

NetApp, Inc. operates across Enterprise data infrastructure. It is up +75.6% in 2026. The stock (+75.6%) and its supply side (avg +20%) are moving in step. Among connected nodes the furthest ahead is Jabil (+36.3%) and the furthest behind is Broadcom (+3.8%). If chain logic explains the gap, the laggard is the next propagation candidate; if not, the link itself deserves a second look. A substantial portion of revenue flows through large IT distributors, while the company spends on hardware components, contract manufacturing, and cloud infrastructure.

Analysis generated from returns as of 2026-09-04

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