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Makes network performance monitoring and DDoS cybersecurity protection software/appliances for enterprises and carriers.
Makes network performance monitoring and DDoS cybersecurity protection software/appliances for enterprises and carriers.
Sells appliances and software up front and then collects annual support fees on the installed base, which are a steady and large part of revenue. The 2015 combination with Danaher's communications business added protection against DDoS attacks, floods of traffic meant to knock services offline, and a larger carrier customer base.
Moat: narrow (installed base, switching costs, IP / patents). Deep packet-inspection technology embedded in carrier/enterprise networks is costly to rip out.
Headquarters: Westford, Massachusetts, United States · Founded: 1984 · Employees: 2,073
Size NetScout Systems (NTCT) is a United States Information Technology company (Packaged Software) with a market value of $2.29B, the 1712th largest of 3,117 United States companies the cockpit tracks. Shares closed at $31.51 on 6 Nov 2026.
Performance Over six months the shares fell 19.4%, against +23.2% for the median peer and -1.1% for the United States market (cap-weighted) — 4th lowest of 21 in its peer set.
Growth Revenue grew 5.8% over the last twelve months (peer median +15.9%); the operating margin is 14.9% (peer median 6.5%).
Valuation It trades at 11.6× forward earnings against a peer median of 21.0× (4th cheapest of 19).
Price implies For today's price to make sense, revenue must grow about 0% a year for seven years (Req g). Recent delivered growth is +1%, so the hurdle is -1 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 1.3 points above its cost of capital (8.4% WACC).
Short interest Short interest is 4.9% of the free float (15 Oct 2026).
Next results Next results expected around 28 Jan 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $883M | $859M | $823M | $829M | $915M |
| Revenue growth | — | +4% | -1% | -9% | — |
| Gross profit | $654M | $628M | $586M | $576M | $617M |
| EBITDA | $198M | $179M | $153M | $148M | $174M |
| Net income | $121M | $95.5M | -$367M | -$148M | $59.6M |
| Free cash flow | $261M | $285M | $212M | $52.4M | $146M |
| Capital expenditure | $13.7M | $9.11M | $6.70M | $6.36M | $10.6M |
| Total debt | $40.0M | $39.6M | $43.5M | $150M | $160M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| NetScout Systems NTCT | $2.29B | -19% | +6% | 15% | 11.6× | -0.1% |
| Cisco CSCO | $369B | -3% | +12% | 25% | 18.4× | 15.0% |
| Broadcom AVGO | $1.40T | -32% | +49% | 49% | 16.9× | 26.6% |
| Radware RDWR | $1.26B | +9% | +11% | 4% | 22.0× | 32.4% |
| Keysight Technologies KEYS | $46.3B | -24% | +26% | 24% | 20.3× | 20.9% |
| Viavi Solutions VIAV | $7.00B | -44% | +40% | 11% | 14.0× | 32.7% |
| Akamai Technologies AKAM | $11.9B | -44% | +6% | 12% | 12.8× | 17.0% |
| Cloudflare NET | $95.7B | +37% | +34% | -8% | 168.8× | n/a |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | NTCT | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -19.8% | +9.6% | 2nd lowest of 21 |
| 6-month return | -19.4% | +23.2% | 4th lowest of 21 |
| Distance from 52-week high | -30.4% | -19.9% | 9th lowest of 21 |
| Revenue growth (TTM) | +5.8% | +15.9% | 4th lowest of 21 |
| Operating margin | 14.9% | 6.5% | 7th highest of 21 |
| Forward P/E | 11.6× | 21.0× | 4th cheapest of 19 |
| Growth the price implies (Req g, 7 yrs) | -0.1% | 13.1% | 4th least demanding of 15 |
| Growth delivered (Del g) | +0.7% | +23.8% | 3rd lowest of 14 |
| Hurdle (Req g minus delivered) | -0.8 pp | -5.9 pp | 5th most demanding of 14 |
| ROIC minus cost of capital | +1.3 pp | -4.5 pp | 7th highest of 18 |
| EV / EBITDA | 8.6× | 10.7× | 3rd cheapest of 11 |
| Net debt / EBITDA | -3.0× | -0.5× | least indebted of 11 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| NetScout Systems NTCT | United States | $2.29B | -19% | +6% | 15% | 11.6× | -0.1% | +0.7% |
| Shanghai Suochen Information Technology 688507.SS | China | $2.31B | +97% | +32% | -2% | 196.7× | n/a | n/a |
| Schrodinger SDGR | United States | $2.23B | +125% | +9% | -59% | n/a | n/a | n/a |
| Affle 3i AFFLE.NS | India | $2.36B | +6% | +20% | 18% | 40.0× | 33.0% | +39.3% |
| RAKUS 3923.T | Japan | $2.38B | +24% | +17% | 31% | 14.1× | 15.8% | +31.4% |
| nCino NCNO | United States | $2.40B | +28% | +9% | 9% | 15.8× | 23.9% | +23.8% |
| ePlus PLUS | United States | $2.40B | +2% | +15% | 7% | 16.1× | 4.3% | +9.5% |
| SeeWay.ai 002405.SZ | China | $2.18B | -32% | +22% | -29% | n/a | n/a | n/a |
| Ethos Technologies LIFE | United States | $2.18B | +13% | +112% | -16% | 33.9× | 24.1% | n/a |
| Asana ASAN | United States | $2.43B | +60% | +9% | -15% | 27.4× | 10.7% | +28.4% |
| Blackbaud BLKB | United States | $2.43B | +44% | +2% | 21% | 9.4× | -1.6% | +4.3% |
| Guangdong Aofei Data Technology 300738.SZ | China | $2.44B | -34% | +24% | 23% | 42.6× | n/a | n/a |
| DoubleVerify DV | United States | $2.12B | +23% | +7% | 14% | 21.3× | 9.7% | +25.1% |
| Pitney Bowes PBI | United States | $2.11B | -1% | -4% | 25% | 9.6× | -5.4% | -11.8% |
| Five9 FIVN | United States | $2.10B | +27% | +9% | 6% | 8.1× | 17.9% | +21.4% |
| Meitu 1357.HK | Hong Kong | $2.50B | -9% | +24% | 24% | 12.8× | 7.5% | +25.5% |
| Amplitude AMPL | United States | $2.09B | +161% | +18% | -27% | 109.2× | 36.9% | +27.4% |
| Money Forward 3994.T | Japan | $2.52B | +51% | +35% | 2% | 2,235.1× | n/a | n/a |
| Embracer EMBRAC-B.ST | Sweden | $2.08B | +37% | -31% | -43% | 16.4× | -9.8% | +12.0% |
| UCloud Technology 688158.SS | China | $2.08B | -34% | +26% | 2% | 499.0× | n/a | n/a |
| Zhejiang Digital Culture Technology 600633.SS | China | $2.06B | -15% | +14% | 10% | 20.8× | 15.4% | -2.8% |