NetApp Inc (NTAP)

Short-term

Turnover ratios

NetApp Inc's inventory turnover ratio has been fluctuating over the years, indicating changes in the efficiency of managing its inventory. The ratio decreased from 27.76 in April 2023 to 9.87 in April 2024, signifying a slower rate of inventory turnover. However, it slightly improved to 10.53 in April 2025, but still remains lower than the initial level in 2023.

In terms of receivables turnover, NetApp Inc has maintained a relatively consistent ratio, ranging between 5.27 and 6.45 over the years. This suggests that the company has been efficient in collecting its receivables from customers, with minor fluctuations seen in the turnover rate.

The payables turnover ratio for NetApp Inc indicates a decreasing trend, falling from 11.83 in April 2023 to 3.83 in April 2025. This decline may imply that the company is taking longer to pay its suppliers, which could affect relationships with vendors and potentially impact the company's working capital management.

Looking at the working capital turnover ratio, NetApp Inc's efficiency in utilizing its working capital has shown some variability. The ratio peaked at 7.92 in April 2024, indicating a higher turnover of working capital during that period. However, it decreased to 5.53 in April 2025, suggesting a lower rate of turnover of working capital.

Overall, these activity ratios provide insights into NetApp Inc's management of inventory, receivables, payables, and working capital over the years, highlighting areas where the company may need to focus on improving efficiency and effectiveness in its operations.

---

Average number of days

The Days of Inventory on Hand (DOH) for NetApp Inc showed a fluctuating trend over the years, starting from 13.15 days on April 28, 2023, increasing to 28.31 days on April 30, 2023, dropping to 15.86 days on April 26, 2024, and then increasing significantly to 37.00 days on April 30, 2024, and further to 34.66 days on April 30, 2025. This suggests that NetApp Inc's efficiency in managing its inventory levels varied over the years.

In terms of Days of Sales Outstanding (DSO), the company's performance also fluctuated, with values of 57.23 days on April 28, 2023, 56.63 days on April 30, 2023, 59.24 days on April 26, 2024, 58.64 days on April 30, 2024, and 69.20 days on April 30, 2025. These numbers indicate the average number of days that NetApp Inc takes to collect revenue after making a sale.

The Number of Days of Payables for NetApp Inc also experienced fluctuations, starting from 30.86 days on April 28, 2023, then increasing significantly to 66.46 days on April 30, 2023, decreasing to 44.09 days on April 26, 2024, escalating further to 102.84 days on April 30, 2024, and then to 95.21 days on April 30, 2025. This metric reflects the average number of days the company takes to pay its suppliers, indicating its liquidity and relationship with vendors.

Overall, analyzing these activity ratios provides insights into NetApp Inc's efficiency in managing inventory, collecting revenue, and paying its suppliers over the specified time period, demonstrating variations in operational performance and financial management practices.

---

Long-term

NetApp Inc's fixed asset turnover ratio has shown an upward trend over the years, increasing from 9.68 in April 28, 2023, to 10.27 in April 26, 2024. This implies that the company generated more revenue per dollar invested in fixed assets over the period.

On the other hand, NetApp Inc's total asset turnover ratio has been relatively stable, ranging from 0.61 to 0.65 during the analyzed period. This indicates that the company is generating revenue in proportion to its total assets consistently.

Overall, the increasing trend in the fixed asset turnover ratio suggests that NetApp Inc has been effectively utilizing its fixed assets to generate revenue, while the stable total asset turnover ratio indicates a consistent performance in generating sales relative to its total assets.