NetApp Inc (NTAP)
Working capital turnover
| Apr 30, 2025 | Apr 30, 2024 | Apr 26, 2024 | Apr 30, 2023 | Apr 28, 2023 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 6,572,000 | 6,268,000 | 6,204,000 | 6,362,000 | 6,295,000 |
| Total current assets | US$ in thousands | 5,851,000 | 4,897,000 | 4,897,000 | 4,680,000 | 4,680,000 |
| Total current liabilities | US$ in thousands | 4,662,000 | 4,106,000 | 4,106,000 | 3,467,000 | 3,467,000 |
| Working capital turnover | 5.53 | 7.92 | 7.84 | 5.24 | 5.19 |
April 30, 2025 calculation
Working capital turnover = Revenue ÷ (Total current assets – Total current liabilities)
= $6,572,000K ÷ ($5,851,000K – $4,662,000K)
= 5.53
The working capital turnover for NetApp Inc has shown a fluctuating trend over the past five years. In April 2023, the working capital turnover was 5.19 times, indicating that the company generated $5.19 in revenue for every $1 of working capital invested. This ratio slightly increased to 5.24 in April 2023.
In the following years, NetApp Inc experienced a significant improvement in its working capital turnover. By April 2024, the ratio had climbed to 7.84 and further increased to 7.92 in April 2024. This uptrend suggests that NetApp Inc became more efficient in utilizing its working capital to generate sales revenue.
However, in April 2025, the working capital turnover ratio dropped to 5.53, indicating a decrease in efficiency compared to the previous years. Despite this slight decline, the company still demonstrates a strong ability to generate revenue relative to its working capital investment.
Overall, the analysis of NetApp Inc's working capital turnover reflects both improvements and fluctuations in the company's efficiency in managing its working capital to drive sales growth over the years.
Peer comparison
Apr 30, 2025