NetApp Inc (NTAP)
Working capital turnover
| Apr 30, 2025 | Jan 31, 2025 | Oct 31, 2024 | Jul 31, 2024 | Apr 30, 2024 | Apr 26, 2024 | Jan 31, 2024 | Jan 26, 2024 | Oct 31, 2023 | Oct 27, 2023 | Jul 31, 2023 | Jul 28, 2023 | Apr 30, 2023 | Apr 28, 2023 | Jan 31, 2023 | Jan 27, 2023 | Oct 31, 2022 | Oct 28, 2022 | Jul 31, 2022 | Jul 29, 2022 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (ttm) | US$ in thousands | 6,572,000 | 6,507,000 | 6,518,000 | 6,466,000 | 6,514,000 | 6,409,000 | 6,304,000 | 6,130,000 | 5,957,000 | 5,976,000 | 5,994,000 | 6,088,000 | 6,182,000 | 6,264,000 | 6,345,000 | 6,411,000 | 6,475,000 | 6,494,000 | 6,510,000 | 6,532,000 |
| Total current assets | US$ in thousands | 5,851,000 | 3,908,000 | 3,939,000 | 4,321,000 | 4,828,000 | 4,897,000 | 4,327,000 | 4,327,000 | 3,993,000 | 3,993,000 | 4,160,000 | 4,160,000 | 4,680,000 | 4,680,000 | 4,540,000 | 4,540,000 | 4,603,000 | 4,603,000 | 4,922,000 | 4,922,000 |
| Total current liabilities | US$ in thousands | 4,662,000 | 4,195,000 | 4,317,000 | 4,512,000 | 4,106,000 | 4,106,000 | 3,765,000 | 3,765,000 | 3,733,000 | 3,733,000 | 3,249,000 | 3,249,000 | 3,467,000 | 3,467,000 | 3,393,000 | 3,393,000 | 3,395,000 | 3,395,000 | 3,575,000 | 3,575,000 |
| Working capital turnover | 5.53 | — | — | — | 9.02 | 8.10 | 11.22 | 10.91 | 22.91 | 22.98 | 6.58 | 6.68 | 5.10 | 5.16 | 5.53 | 5.59 | 5.36 | 5.38 | 4.83 | 4.85 |
April 30, 2025 calculation
Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $6,572,000K ÷ ($5,851,000K – $4,662,000K)
= 5.53
NetApp Inc's working capital turnover has shown fluctuating trends over the specified periods. The ratio indicates how efficiently the company is utilizing its working capital to generate sales revenue. From July 29, 2022, to October 31, 2023, the working capital turnover consistently increased, reaching its peak at 22.98 in October 27, 2023, and October 31, 2023. This significant increase suggests that NetApp Inc was effectively using its working capital to generate sales during this period.
However, starting from January 26, 2024, there was a notable decline in the working capital turnover, with the ratio dropping to 10.91 and 11.22 in January 31, 2024. This decline indicates a potential slowdown in the efficiency of the company's working capital utilization compared to the earlier periods.
Further, as of April 30, 2024, the working capital turnover improved to 9.02 from the previous period but remained lower than the peak observed in 2023. The absence of data for July 31, 2024, October 31, 2024, January 31, 2025, and April 30, 2025, limits a more recent analysis of the trend.
Overall, NetApp Inc's working capital turnover has shown both positive and negative fluctuations, reflecting changes in the company's operational efficiency in utilizing its working capital to generate sales revenue during the specified periods.
Peer comparison
Apr 30, 2025