NetApp Inc (NTAP)
Receivables turnover
| Apr 26, 2024 | Apr 28, 2023 | Apr 29, 2022 | Apr 30, 2021 | Apr 24, 2020 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 6,204,000 | 6,295,000 | 6,245,000 | 5,670,000 | 5,357,000 |
| Receivables | US$ in thousands | 1,007,000 | 987,000 | 1,230,000 | 945,000 | 973,000 |
| Receivables turnover | 6.16 | 6.38 | 5.08 | 6.00 | 5.51 |
April 26, 2024 calculation
Receivables turnover = Revenue ÷ Receivables
= $6,204,000K ÷ $1,007,000K
= 6.16
The receivables turnover ratio for NetApp Inc has shown some fluctuation over the past five years. The ratio was 5.51 in 2020, increased to 6.00 in 2021, decreased to 5.08 in 2022, then went up to 6.38 in 2023, and finally decreased slightly to 6.16 in 2024.
A higher receivables turnover ratio indicates that the company is more efficient in collecting payments from customers, which can be seen in NetApp's increasing trend from 2020 to 2023. However, the slight drop in 2024 may signal a potential slowdown in collecting receivables.
Overall, NetApp Inc has maintained a healthy receivables turnover ratio over the years, suggesting effective management of its accounts receivables and cash flow from customers. Further analysis of the company's specific industry trends and customer base may provide additional insights into the fluctuations observed in the receivables turnover ratio.
Peer comparison
Apr 26, 2024