NetApp Inc (NTAP)
Current ratio
| Apr 30, 2024 | Apr 26, 2024 | Apr 30, 2023 | Apr 28, 2023 | Apr 30, 2022 | ||
|---|---|---|---|---|---|---|
| Total current assets | US$ in thousands | 4,897,000 | 4,897,000 | 4,680,000 | 4,680,000 | 5,945,000 |
| Total current liabilities | US$ in thousands | 4,106,000 | 4,106,000 | 3,467,000 | 3,467,000 | 3,953,000 |
| Current ratio | 1.19 | 1.19 | 1.35 | 1.35 | 1.50 |
April 30, 2024 calculation
Current ratio = Total current assets ÷ Total current liabilities
= $4,897,000K ÷ $4,106,000K
= 1.19
The current ratio of NetApp Inc has been on a declining trend over the past few years, decreasing from 1.50 in April 30, 2022, to 1.19 in both April 26, 2024, and April 30, 2024. This indicates that the company's ability to meet its short-term liabilities using its current assets has weakened. A current ratio of 1.19 suggests that NetApp may have a smaller margin of safety in covering its short-term obligations, which could potentially raise concerns regarding liquidity and financial flexibility. It would be important for NetApp to closely monitor and manage its current assets and liabilities to ensure they remain in a healthy position.
Peer comparison
Apr 30, 2024