NetApp Inc (NTAP)
Payables turnover
| Apr 30, 2024 | Apr 26, 2024 | Apr 30, 2023 | Apr 28, 2023 | Apr 30, 2022 | ||
|---|---|---|---|---|---|---|
| Cost of revenue | US$ in thousands | 1,835,000 | 4,280,000 | 2,153,000 | 4,636,000 | 2,098,000 |
| Payables | US$ in thousands | — | 517,000 | — | 392,000 | — |
| Payables turnover | — | 8.28 | — | 11.83 | — |
April 30, 2024 calculation
Payables turnover = Cost of revenue ÷ Payables
= $1,835,000K ÷ $—K
= —
The payables turnover ratio measures how efficiently a company is managing its outstanding payments to suppliers. It indicates the number of times a company pays off its accounts payable within a certain period. In the case of NetApp Inc, the payables turnover for the fiscal years ending April 28, 2023, and April 26, 2024, were 11.83 and 8.28, respectively.
A higher payables turnover ratio suggests that NetApp Inc is paying its suppliers more frequently, which could indicate strong liquidity and good relationships with vendors. Conversely, a lower ratio may imply that the company is taking longer to settle its payables, potentially affecting supplier relations.
However, it is worth noting that the payables turnover ratio for April 30, 2022, and April 30, 2023, is not available (indicated as "—"), which limits the ability to analyze the trend over multiple periods. It is advisable for NetApp Inc to consistently monitor and manage its payables turnover to ensure efficient working capital management and maintain healthy supplier relationships.
Peer comparison
Apr 30, 2024