NetApp Inc (NTAP)
Total asset 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 |
| Total assets | US$ in thousands | 9,887,000 | 9,887,000 | 9,818,000 | 9,818,000 | 10,026,000 |
| Total asset turnover | 0.63 | 0.63 | 0.65 | 0.64 | 0.63 |
April 30, 2024 calculation
Total asset turnover = Revenue ÷ Total assets
= $6,268,000K ÷ $9,887,000K
= 0.63
NetApp Inc's total asset turnover ratio has shown a consistent trend over the past few years. The ratio has hovered around 0.63 to 0.65, indicating that for every dollar of assets the company has, it generates $0.63 to $0.65 in revenue. This suggests that NetApp is efficiently utilizing its assets to generate sales. However, the slight fluctuations in the ratio may warrant further investigation into the company's asset management strategies to ensure sustained efficiency in generating revenue from its total assets.
Peer comparison
Apr 30, 2024
Company name
Symbol
Total asset turnover
NetApp Inc
NTAP
0.63
Pure Storage Inc
PSTG
0.80
Seagate Technology PLC
STX
0.80
Western Digital Corporation
WDC
0.54