Netscout Systems Inc. (NTCT) intrinsic value & 10-year financials
Netscout Systems Inc. (NTCT) has a Graham intrinsic value of $43.18 per share. At $38.07 on Oct 17, 2026, the stock trades 12% below that value. Over the last 10 fiscal years revenue shrank 3.3% a year to $859.5M, with an average return on invested capital of -2.0%.
- Graham intrinsic value
- $43.18
- Share price (Oct 17, 2026)
- $38.07
- Price vs Graham value
- 12% below
- Market cap
- $2.8B
- Revenue (FY2026)
- $859.5M
- Revenue growth (10-yr CAGR)
- -3.3%
- ROIC (10-yr avg)
- -2.0%
- Free cash flow (FY2026)
- $285.4M
NTCT 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2026 | $859.5M | $95.5M | $1.30 | $285.4M | 12.8% | 7.9% |
| FY2025 | $822.7M | -$366.9M | -$5.12 | $212.3M | -44.7% | -26.5% |
| FY2024 | $829.5M | -$147.7M | -$2.07 | $52.5M | -18.1% | -8.7% |
| FY2023 | $914.5M | $59.6M | $0.82 | $146.2M | 8.5% | 3.7% |
| FY2022 | $855.6M | $35.9M | $0.48 | $285.7M | 5.7% | 2.2% |
| FY2021 | $831.3M | $19.4M | $0.26 | $201.9M | 4.5% | 1.6% |
| FY2020 | $891.8M | -$2.8M | -$0.04 | $205.1M | 2.0% | 0.4% |
| FY2019 | $909.9M | -$73.3M | -$0.93 | $126.4M | -7.9% | -2.5% |
| FY2018 | $986.8M | $79.8M | $0.90 | $206.5M | -0.4% | -0.1% |
| FY2017 | $1.2B | $33.3M | $0.36 | $197.1M | 5.3% | 1.6% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
NETSCOUT SYSTEMS INC is facing top-line stagnation, with revenue contracting over the decade.
NETSCOUT SYSTEMS INC has historically struggled to out-earn its cost of capital, averaging just -2.0% ROIC.
Over the decade, NETSCOUT SYSTEMS INC shows that management has aggressively returned capital to shareholders by retiring 21.1% of outstanding shares.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, NETSCOUT SYSTEMS INC is modeled at 15.0% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $43.18 per share.