NetApp Inc (NTAP)
Financial leverage ratio
| Apr 30, 2024 | Apr 26, 2024 | Apr 30, 2023 | Apr 28, 2023 | Apr 30, 2022 | ||
|---|---|---|---|---|---|---|
| Total assets | US$ in thousands | 9,887,000 | 9,887,000 | 9,818,000 | 9,818,000 | 10,026,000 |
| Total stockholders’ equity | US$ in thousands | 1,146,000 | 1,146,000 | 1,159,000 | 1,159,000 | 838,000 |
| Financial leverage ratio | 8.63 | 8.63 | 8.47 | 8.47 | 11.96 |
April 30, 2024 calculation
Financial leverage ratio = Total assets ÷ Total stockholders’ equity
= $9,887,000K ÷ $1,146,000K
= 8.63
The financial leverage ratio of NetApp Inc has shown a fluctuating trend over the past few years. As of April 30, 2022, the ratio was relatively high at 11.96, indicating a higher level of debt to equity in the company's capital structure. However, by April 28, 2023, the ratio decreased significantly to 8.47 and remained stable at this level for the subsequent reporting periods up to April 30, 2024. This reduction suggests that NetApp Inc has effectively managed its debt levels and improved its financial risk position by lowering its reliance on debt financing. Overall, a decreasing trend in the financial leverage ratio demonstrates a stronger financial position and improved ability to meet financial obligations through equity financing rather than debt.
Peer comparison
Apr 30, 2024