NETSCOUT SYSTEMS INC
NTCT · Services-Computer Integrated Systems Design · 71.5M shares · -1%/yr ↓ buyback · EDGAR filings ↗
Net buyback after stock comp: -$21M (gross $50M, SBC $71M)
Reference price $40.29 · est. market cap ~$2.9B — last insider sale, 2026-06-08 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
B70Network-performance/security vendor with the set's highest gross margin and elite FCF margin, but an earnings swing.
Strengths
- Top gross margin and FCF margin — gross margin 79.4% (100th), FCF margin 33.2% (100th), OCF margin 34.3%
- Strong FCF — $285.4M (83rd)
- Solid liquidity — current ratio 1.85 (79th)
Risks
- Earnings swing — net income -126.0% (16th), likely impairment-driven
- Slow growth — revenue +4.5% (45th)
- IT-spending cyclicality — per 10-K
Notable findings
- Fund exitedNotable fund(s) exited this quarter: VANGUARD GROUP INC, RENAISSANCE TECHNOLOGIES LLC
- Auditor changeRecent 8-K item 4.01 8-K ↗
- Strong balance sheetStrong balance sheet — $624M cash & investments
- Insider sellingInsider selling — 8 open-market sale(s) by 4 insider(s) (cluster of 4 insiders, ~$1M, last 6mo) Form 4 ↗
- China exposureexport controls and government contracting laws, our business could be harmed
- Revenue declineRevenue -19.0% YoY
- Notable holderHeld by 5 notable fund(s): STATE STREET CORP, GOLDMAN SACHS GROUP INC, FMR LLC +2 more (as of 2026-03-31)
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Gross margin
79.4%
Operating margin
12.8%
Net margin
11.1%
Return on equity
5.8%
Return on assets
4.1%
Revenue growth (QoQ)
-19.0%
Current ratio
1.8×
Free cash flow
$285M
EBITDA
$166M
Tangible book value
$364M
Cash & investments
$624M
Stock comp / revenue
7.0%
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-06-19 | SZABADOS MICHAEL | Tax withheld | 1.8K | $39.67 |
| 2026-06-19 | DOWNING JOHN | Option exercise | 5.2K | — |
| 2026-06-19 | DOWNING JOHN | Tax withheld | 2.3K | $39.67 |
| 2026-06-19 | SINGHAL ANIL K | Option exercise | 10K | — |
| 2026-06-19 | SINGHAL ANIL K | Tax withheld | 4.6K | $39.67 |
| 2026-06-19 | SZABADOS MICHAEL | Option exercise | 6.0K | — |
| 2026-06-15 | SZABADOS MICHAEL | Tax withheld | 1.9K | $41.42 |
| 2026-06-15 | DOWNING JOHN | Option exercise | 5.4K | — |
| 2026-06-15 | DOWNING JOHN | Tax withheld | 1.6K | $41.42 |
| 2026-06-15 | SINGHAL ANIL K | Option exercise | 11K | — |
| 2026-06-15 | SINGHAL ANIL K | Tax withheld | 4.2K | $41.42 |
| 2026-06-15 | Piazza Anthony John | Option exercise | 2.0K | — |
| 2026-06-15 | Piazza Anthony John | Tax withheld | 589 | $41.42 |
| 2026-06-15 | Munshi Sanjay | Option exercise | 2.4K | — |
| 2026-06-15 | Munshi Sanjay | Tax withheld | 585 | $41.42 |
| 2026-06-15 | SZABADOS MICHAEL | Option exercise | 6.3K | — |
| 2026-06-08 | DOWNING JOHN | Sell | 8.0K | $40.29 |
| 2026-06-06 | SINGHAL ANIL K | Tax withheld | 3.2K | $40.59 |
| 2026-06-06 | SZABADOS MICHAEL | Option exercise | 6.3K | — |
| 2026-06-06 | SZABADOS MICHAEL | Tax withheld | 1.9K | $40.59 |
| 2026-06-06 | SINGHAL ANIL K | Option exercise | 11K | — |
| 2026-06-06 | Piazza Anthony John | Option exercise | 2.4K | — |
| 2026-06-06 | Piazza Anthony John | Tax withheld | 705 | $40.59 |
| 2026-06-06 | Munshi Sanjay | Option exercise | 2.9K | — |
| 2026-06-06 | Munshi Sanjay | Tax withheld | 702 | $40.59 |
| 2026-06-06 | DOWNING JOHN | Option exercise | 5.4K | — |
| 2026-06-06 | DOWNING JOHN | Tax withheld | 1.6K | $40.59 |
| 2026-05-15 | Munshi Sanjay | Sell | 2.0K | $38.40 |
| 2026-05-15 | SZABADOS MICHAEL | Sell | 4.0K | $38.40 |
| 2026-05-12 | Grasso Alfred | Sell | 5.0K | $40.67 |
| 2026-05-06 | Piazza Anthony John | Option exercise | 4.5K | — |
| 2026-05-06 | Piazza Anthony John | Tax withheld | 1.4K | $35.77 |
| 2026-05-06 | Munshi Sanjay | Option exercise | 3.8K | — |
| 2026-05-06 | Munshi Sanjay | Tax withheld | 1.0K | $35.77 |
| 2026-05-06 | DOWNING JOHN | Option exercise | 5.4K | — |
| 2026-05-06 | DOWNING JOHN | Tax withheld | 1.6K | $35.77 |
| 2026-05-06 | SINGHAL ANIL K | Option exercise | 11K | — |
| 2026-05-06 | SINGHAL ANIL K | Tax withheld | 3.2K | $35.77 |
| 2026-02-20 | DOWNING JOHN | Sell | 3.0K | $30.00 |
| 2026-02-18 | SZABADOS MICHAEL | Sell | 4.0K | $29.18 |
| 2026-02-18 | Munshi Sanjay | Sell | 2.0K | $29.18 |
| 2026-02-18 | DOWNING JOHN | Sell | 3.0K | $29.18 |
| 2026-01-27 | Watt Eric Todd | Tax withheld | 1.3K | $27.87 |
| 2026-01-27 | Watt Eric Todd | Option exercise | 3.8K | — |
| 2025-12-12 | Perretta Christopher | Sell | 10K | $28.01 |
| 2025-12-10 | SINGHAL ANIL K | Gift | 9.3K | — |
| 2025-12-03 | Munshi Sanjay | Sell | 2.0K | $27.23 |
| 2025-11-20 | HADZIMA JOSEPH G JR | Gift | 10K | — |
| 2025-11-19 | HADZIMA JOSEPH G JR | Sell | 3.1K | $25.63 |
| 2025-11-12 | SZABADOS MICHAEL | Sell | 4.0K | $28.35 |
| 2025-11-06 | DOWNING JOHN | Sell | 3.0K | $30.00 |
| 2025-11-03 | DOWNING JOHN | Sell | 3.0K | $27.80 |
| 2025-10-26 | SINGHAL ANIL K | Option exercise | 14K | — |
| 2025-10-26 | SZABADOS MICHAEL | Option exercise | 7.9K | — |
| 2025-10-26 | SZABADOS MICHAEL | Tax withheld | 2.3K | $26.85 |
| 2025-10-26 | DOWNING JOHN | Option exercise | 6.8K | — |
| 2025-10-26 | DOWNING JOHN | Tax withheld | 2.0K | $26.85 |
| 2025-10-26 | SINGHAL ANIL K | Tax withheld | 6.0K | $26.85 |
| 2025-09-12 | Nash Shannon | Option exercise | 7.0K | — |
| 2025-09-12 | Pelage Marlene | Option exercise | 7.0K | — |
| 2025-09-12 | VITALE VIVIAN M | Option exercise | 7.0K | — |
| 2025-09-12 | HADZIMA JOSEPH G JR | Option exercise | 7.0K | — |
| 2025-09-12 | DONAHUE ROBERT E | Option exercise | 7.0K | — |
| 2025-09-12 | EGAN JOHN R | Option exercise | 7.0K | — |
| 2025-09-12 | Perretta Christopher | Option exercise | 7.0K | — |
| 2025-09-12 | Grasso Alfred | Option exercise | 7.0K | — |
| 2025-08-27 | Grasso Alfred | Sell | 5.6K | $24.44 |
| 2025-08-26 | Grasso Alfred | Sell | 5.4K | $24.14 |
| 2025-08-25 | Piazza Anthony John | Tax withheld | 737 | $23.50 |
| 2025-08-25 | Munshi Sanjay | Option exercise | 3.0K | — |
| 2025-08-25 | Munshi Sanjay | Tax withheld | 731 | $23.50 |
| 2025-08-25 | Piazza Anthony John | Option exercise | 2.5K | — |
| 2025-08-22 | SZABADOS MICHAEL | Sell | 4.0K | $22.91 |
| 2025-08-12 | HADZIMA JOSEPH G JR | Sell | 3.5K | $22.03 |
| 2025-08-08 | DOWNING JOHN | Sell | 3.0K | $21.40 |
| 2025-06-15 | SZABADOS MICHAEL | Option exercise | 6.3K | — |
| 2025-06-15 | SZABADOS MICHAEL | Tax withheld | 1.9K | $23.25 |
| 2025-06-15 | Munshi Sanjay | Option exercise | 2.4K | — |
| 2025-06-15 | Munshi Sanjay | Tax withheld | 585 | $23.25 |
| 2025-06-15 | DOWNING JOHN | Option exercise | 5.4K | — |
| 2025-06-15 | DOWNING JOHN | Tax withheld | 1.6K | $23.25 |
| 2025-06-15 | Piazza Anthony John | Option exercise | 2.0K | — |
| 2025-06-15 | Piazza Anthony John | Tax withheld | 589 | $23.25 |
| 2025-06-15 | SINGHAL ANIL K | Option exercise | 11K | — |
| 2025-06-15 | SINGHAL ANIL K | Tax withheld | 3.8K | $23.25 |
| 2025-06-10 | HADZIMA JOSEPH G JR | Sell | 3.5K | $23.85 |
| 2025-06-06 | Munshi Sanjay | Option exercise | 2.9K | — |
| 2025-06-06 | Munshi Sanjay | Tax withheld | 701 | $23.22 |
| 2025-06-06 | Piazza Anthony John | Option exercise | 2.4K | — |
| 2025-06-06 | Piazza Anthony John | Tax withheld | 701 | $23.22 |
| 2025-06-06 | SZABADOS MICHAEL | Option exercise | 6.3K | — |
| 2025-06-06 | SZABADOS MICHAEL | Tax withheld | 1.9K | $23.22 |
| 2025-06-06 | SINGHAL ANIL K | Option exercise | 11K | — |
| 2025-06-06 | SINGHAL ANIL K | Tax withheld | 3.2K | $23.22 |
| 2025-06-06 | DOWNING JOHN | Option exercise | 5.4K | — |
| 2025-06-06 | DOWNING JOHN | Tax withheld | 1.6K | $23.22 |
| 2025-06-04 | SZABADOS MICHAEL | Tax withheld | 2.3K | $23.41 |
| 2025-06-04 | SZABADOS MICHAEL | Option exercise | 7.9K | — |
| 2025-06-04 | SINGHAL ANIL K | Option exercise | 14K | — |
| 2025-06-04 | SINGHAL ANIL K | Tax withheld | 4.0K | $23.41 |
| 2025-06-04 | DOWNING JOHN | Option exercise | 6.8K | — |
| 2025-06-04 | DOWNING JOHN | Tax withheld | 2.0K | $23.41 |
| 2025-06-02 | Munshi Sanjay | Tax withheld | 759 | $22.84 |
| 2025-06-02 | Piazza Anthony John | Tax withheld | 847 | $22.84 |
| 2025-06-02 | Piazza Anthony John | Option exercise | 2.5K | — |
| 2025-06-02 | Munshi Sanjay | Option exercise | 2.8K | — |
| 2025-05-29 | DOWNING JOHN | Sell | 3.0K | $23.47 |
| 2025-05-14 | SINGHAL ANIL K | Gift | 400K | — |
| 2025-05-14 | SINGHAL ANIL K | Gift | 400K | — |
| 2025-05-13 | SZABADOS MICHAEL | Sell | 7.5K | $22.77 |
| 2025-02-18 | DOWNING JOHN | Sell | 3.0K | $24.25 |
| 2025-02-13 | BUA JEAN A | Sell | 12K | $23.92 |
| 2025-02-04 | SZABADOS MICHAEL | Sell | 6.5K | $23.47 |
All non-derivative Form 4 activity (SEC), newest first.
Notable events (8-K)
| Date | Items | |
|---|---|---|
| 2026-06-03 | Auditor changeExhibits | filing ↗ |
| 2026-05-07 | ResultsExhibits | filing ↗ |
| 2026-02-05 | ResultsExhibits | filing ↗ |
| 2025-11-06 | ResultsExhibits | filing ↗ |
| 2025-09-12 | Exec/director changeShareholder vote | filing ↗ |
| 2025-08-07 | ResultsExhibits | filing ↗ |
| 2025-05-08 | ResultsExec/director changeExhibits | filing ↗ |
| 2025-01-30 | ResultsExhibits | filing ↗ |
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-06-03 | 2026-05-28 | 0001193125-26-255421 ↗ |
| 10-K | 2026-05-14 | 2026-03-31 | 0001078075-26-000050 ↗ |
| 8-K | 2026-05-07 | 2026-05-07 | 0001078075-26-000027 ↗ |
| 8-K | 2026-02-05 | 2026-02-05 | 0001078075-26-000009 ↗ |
| 10-Q | 2026-02-05 | 2025-12-31 | 0001078075-26-000012 ↗ |
| 8-K | 2025-11-06 | 2025-11-06 | 0001078075-25-000009 ↗ |
| 10-Q | 2025-11-06 | 2025-09-30 | 0001078075-25-000012 ↗ |
| 8-K | 2025-09-12 | 2025-09-10 | 0001193125-25-202302 ↗ |
| 8-K | 2025-08-07 | 2025-08-07 | 0001628280-25-038596 ↗ |
| 10-Q | 2025-08-07 | 2025-06-30 | 0001628280-25-038913 ↗ |
| 10-K | 2025-05-15 | 2025-03-31 | 0001628280-25-025982 ↗ |
| 8-K | 2025-05-08 | 2025-05-05 | 0001628280-25-023464 ↗ |