NetApp Inc (NTAP)
Receivables turnover
| Apr 30, 2024 | Apr 26, 2024 | Apr 30, 2023 | Apr 28, 2023 | Apr 30, 2022 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 6,268,000 | 6,204,000 | 6,362,000 | 6,295,000 | 6,318,000 |
| Receivables | US$ in thousands | — | 1,007,000 | — | 987,000 | — |
| Receivables turnover | — | 6.16 | — | 6.38 | — |
April 30, 2024 calculation
Receivables turnover = Revenue ÷ Receivables
= $6,268,000K ÷ $—K
= —
The receivables turnover ratio for NetApp Inc indicates how efficiently the company collects payments from its customers. Looking at the data provided, we observe that the receivables turnover ratio for NetApp Inc was 6.38 for the fiscal year ending April 28, 2023, and decreased to 6.16 for the fiscal year ending April 26, 2024.
A higher receivables turnover ratio signifies that the company is collecting payments from its customers at a faster rate, which can be seen as a positive sign of efficient credit management. On the other hand, a declining ratio could indicate potential issues with collecting receivables in a timely manner.
Overall, NetApp Inc's receivables turnover ratio, although showing a slight decrease, suggests that the company has been efficient in managing its accounts receivable and converting credit sales into cash during the periods analyzed.
Peer comparison
Apr 30, 2024