NetApp Inc (NTAP)
Payables turnover
| Apr 26, 2024 | Apr 28, 2023 | Apr 29, 2022 | Apr 30, 2021 | Apr 24, 2020 | ||
|---|---|---|---|---|---|---|
| Cost of revenue | US$ in thousands | 4,280,000 | 4,636,000 | 4,474,000 | 4,195,000 | 3,851,000 |
| Payables | US$ in thousands | 517,000 | 392,000 | 607,000 | 420,000 | 426,000 |
| Payables turnover | 8.28 | 11.83 | 7.37 | 9.99 | 9.04 |
April 26, 2024 calculation
Payables turnover = Cost of revenue ÷ Payables
= $4,280,000K ÷ $517,000K
= 8.28
NetApp Inc's payables turnover ratio has varied in recent years. In the latest fiscal year ending April 26, 2024, the payables turnover ratio stood at 8.28, indicating that the company converted its accounts payable into purchases 8.28 times during the year. This ratio decreased compared to the previous year, where it was 11.83, suggesting a slower pace of payment to suppliers.
In the fiscal year ending April 28, 2023, the payables turnover ratio was relatively high at 11.83, signaling that NetApp Inc was paying its suppliers at a faster rate compared to other years in the dataset. This trend contrasts with the fiscal year ending April 29, 2022, when the payables turnover ratio dropped to 7.37, indicating a slower pace of conversion of accounts payable into purchases.
The payables turnover ratio for the fiscal year ending April 30, 2021, was 9.99, representing an increase from the previous year and suggesting that the company managed its payables more efficiently. In the fiscal year ending April 24, 2020, the payables turnover ratio was 9.04, demonstrating a relatively consistent performance in managing its accounts payable turnover compared to the previous years.
Overall, fluctuations in NetApp Inc's payables turnover ratio over the years reflect variations in the company's payment practices and efficiency in managing its accounts payable. It is essential for stakeholders to monitor these changes to assess the company's working capital management and relationships with suppliers.
Peer comparison
Apr 26, 2024