NetApp Inc (NTAP)
Current ratio
| Apr 26, 2024 | Jan 26, 2024 | Oct 27, 2023 | Jul 28, 2023 | Apr 28, 2023 | Jan 27, 2023 | Oct 28, 2022 | Jul 29, 2022 | Apr 29, 2022 | Jan 28, 2022 | Oct 29, 2021 | Jul 30, 2021 | Apr 30, 2021 | Jan 29, 2021 | Oct 30, 2020 | Jul 31, 2020 | Apr 24, 2020 | Jan 24, 2020 | Oct 25, 2019 | Jul 26, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total current assets | US$ in thousands | 4,897,000 | 4,327,000 | 3,993,000 | 4,160,000 | 4,680,000 | 4,540,000 | 4,603,000 | 4,922,000 | 5,945,000 | 5,513,000 | 5,669,000 | 5,631,000 | 6,001,000 | 5,114,000 | 4,821,000 | 4,817,000 | 4,274,000 | 4,218,000 | 4,191,000 | 4,516,000 |
| Total current liabilities | US$ in thousands | 4,106,000 | 3,765,000 | 3,733,000 | 3,249,000 | 3,467,000 | 3,393,000 | 3,395,000 | 3,575,000 | 3,953,000 | 3,552,000 | 3,195,000 | 3,103,000 | 3,452,000 | 3,050,000 | 2,920,000 | 2,976,000 | 3,616,000 | 3,529,000 | 3,204,000 | 3,175,000 |
| Current ratio | 1.19 | 1.15 | 1.07 | 1.28 | 1.35 | 1.34 | 1.36 | 1.38 | 1.50 | 1.55 | 1.77 | 1.81 | 1.74 | 1.68 | 1.65 | 1.62 | 1.18 | 1.20 | 1.31 | 1.42 |
April 26, 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 exhibited some fluctuations over the past several quarters. The ratio, which measures the company's ability to meet its short-term obligations with its current assets, increased from 1.19 in April 2024 to 1.55 in January 2022. This upward trend reflects an improvement in the company's liquidity position and indicates a stronger ability to cover its current liabilities with its current assets.
However, the current ratio started to decline after January 2022, reaching 1.19 in April 2023. The ratio then slightly increased to 1.35 in July 2023 before dropping to 1.07 in October 2023. This decline could be a cause for concern as it may suggest potential challenges in meeting short-term obligations with current assets.
The current ratio improved in the most recent quarter, standing at 1.19 in April 2024. While the ratio has shown some volatility, it remains above 1, indicating that NetApp Inc has sufficient current assets to cover its current liabilities. Analysts may want to monitor future developments to ensure the company maintains a healthy liquidity position.
Peer comparison
Apr 26, 2024