NetApp Inc (NTAP)
Quick ratio
| Apr 26, 2024 | Apr 28, 2023 | Apr 29, 2022 | Apr 30, 2021 | Apr 24, 2020 | ||
|---|---|---|---|---|---|---|
| Cash | US$ in thousands | 1,903,000 | 2,316,000 | 4,112,000 | 4,529,000 | 2,658,000 |
| Short-term investments | US$ in thousands | 1,349,000 | 754,000 | 22,000 | 67,000 | 224,000 |
| Receivables | US$ in thousands | 1,007,000 | 987,000 | 1,230,000 | 945,000 | 973,000 |
| Total current liabilities | US$ in thousands | 4,106,000 | 3,467,000 | 3,953,000 | 3,452,000 | 3,616,000 |
| Quick ratio | 1.04 | 1.17 | 1.36 | 1.61 | 1.07 |
April 26, 2024 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($1,903,000K
+ $1,349,000K
+ $1,007,000K)
÷ $4,106,000K
= 1.04
The quick ratio of NetApp Inc has exhibited fluctuations over the past five years. The ratio stood at 1.04 as of April 26, 2024, indicating that the company had $1.04 in liquid assets available to cover each dollar of current liabilities. This suggests a slight decrease in liquidity compared to the previous year where the quick ratio was 1.17 on April 28, 2023.
Looking back further, the quick ratio was 1.36 as of April 29, 2022, demonstrating a higher level of liquidity than in the most recent year. The trend continues to show a strong quick ratio of 1.61 on April 30, 2021, suggesting a more comfortable position in meeting short-term obligations with liquid assets.
However, on April 24, 2020, the quick ratio was at 1.07, indicating a decrease in liquidity compared to the previous year. Overall, while the quick ratio has fluctuated, it generally remained above 1, which is typically considered a healthy sign of the company's ability to meet short-term obligations. It would be important to analyze the underlying reasons behind these fluctuations to understand the company's liquidity position and financial management strategies.
Peer comparison
Apr 26, 2024