NetApp Inc (NTAP)
Inventory turnover
| Apr 26, 2024 | Jan 26, 2024 | Oct 27, 2023 | Jul 28, 2023 | Apr 28, 2023 | Jan 27, 2023 | Oct 28, 2022 | Jul 29, 2022 | Apr 29, 2022 | Jan 28, 2022 | Oct 29, 2021 | Jul 30, 2021 | Apr 30, 2021 | Jan 29, 2021 | Oct 30, 2020 | Jul 31, 2020 | Apr 24, 2020 | Jan 24, 2020 | Oct 25, 2019 | Jul 26, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cost of revenue (ttm) | US$ in thousands | 4,181,000 | 4,181,000 | 4,317,000 | 4,462,000 | 4,546,000 | 4,654,000 | 4,599,000 | 4,510,000 | 4,400,000 | 4,280,000 | 4,206,000 | 4,177,000 | 4,115,000 | 3,042,000 | 2,963,000 | 2,841,000 | 2,824,000 | 3,952,000 | 4,081,000 | 4,198,000 |
| Inventory | US$ in thousands | 186,000 | 131,000 | 122,000 | 131,000 | 167,000 | 175,000 | 244,000 | 232,000 | 204,000 | 167,000 | 155,000 | 108,000 | 114,000 | 106,000 | 116,000 | 136,000 | 145,000 | 113,000 | 111,000 | 116,000 |
| Inventory turnover | 22.48 | 31.92 | 35.39 | 34.06 | 27.22 | 26.59 | 18.85 | 19.44 | 21.57 | 25.63 | 27.14 | 38.68 | 36.10 | 28.70 | 25.54 | 20.89 | 19.48 | 34.97 | 36.77 | 36.19 |
April 26, 2024 calculation
Inventory turnover = Cost of revenue (ttm) ÷ Inventory
= $4,181,000K ÷ $186,000K
= 22.48
The inventory turnover ratio for NetApp Inc has fluctuated over the past few years, ranging from a low of 18.85 to a high of 38.68. The ratio indicates how efficiently the company manages its inventory by measuring how many times it sells and replaces its inventory during a specific period.
A higher inventory turnover ratio, such as the values recorded in Jan 2022 and Feb 2021, implies that NetApp is selling its inventory quickly and may be managing its inventory levels effectively. On the other hand, lower ratios, as seen in Jul 2022 and Apr 2020, suggest that the company may be holding onto excess inventory or facing challenges in selling its products efficiently.
Overall, the trend shows some variability in inventory turnover, which may reflect changes in demand, production efficiency, or inventory management practices within NetApp Inc. It is essential for the company to analyze the reasons behind these fluctuations to ensure optimal inventory management and operational efficiency.
Peer comparison
Apr 26, 2024
Apr 26, 2024