NetApp Inc (NTAP)
Quick 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash | US$ in thousands | 1,903,000 | 1,820,000 | 1,934,000 | 2,020,000 | 2,316,000 | 2,640,000 | 2,669,000 | 3,288,000 | 4,112,000 | 4,170,000 | 4,509,000 | 4,492,000 | 4,529,000 | 3,808,000 | 3,529,000 | 3,633,000 | 2,658,000 | 2,705,000 | 2,545,000 | 2,967,000 |
| Short-term investments | US$ in thousands | 1,349,000 | 1,097,000 | 686,000 | 955,000 | 754,000 | 501,000 | 364,000 | 151,000 | 22,000 | 31,000 | 39,000 | 55,000 | 67,000 | 86,000 | 117,000 | 140,000 | 224,000 | 303,000 | 442,000 | 565,000 |
| Receivables | US$ in thousands | 1,007,000 | 787,000 | 787,000 | 653,000 | 987,000 | 821,000 | 910,000 | 865,000 | 1,230,000 | 799,000 | 647,000 | 655,000 | 945,000 | 799,000 | 796,000 | 604,000 | 973,000 | 821,000 | 780,000 | 542,000 |
| 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 |
| Quick ratio | 1.04 | 0.98 | 0.91 | 1.12 | 1.17 | 1.17 | 1.16 | 1.20 | 1.36 | 1.41 | 1.63 | 1.68 | 1.61 | 1.54 | 1.52 | 1.47 | 1.07 | 1.09 | 1.18 | 1.28 |
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 fluctuated over the past several quarters. The ratio, which measures the company's ability to cover its short-term obligations with its most liquid assets, was 1.04 as of April 26, 2024. This indicates that the company had $1.04 in liquid assets available to cover each $1 of current liabilities.
The quick ratio has generally been above 1, which suggests that NetApp Inc has a strong ability to meet its short-term financial obligations without relying heavily on inventory. The ratio peaked at 1.68 in January 2022 and has since shown some variability but has generally remained at healthy levels.
Overall, the trend in NetApp Inc's quick ratio indicates that the company has maintained a solid liquidity position and is well-positioned to meet its short-term obligations.
Peer comparison
Apr 26, 2024