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NetApp Piotroski F-Score

: 6 (As of Today)
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The zones of discrimination were as such:

Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3

NetApp has an F-score of 6 indicating the company's financial situation is typical for a stable company.

The historical rank and industry rank for NetApp's Piotroski F-Score or its related term are showing as below:

NAS:NTAP' s Piotroski F-Score Range Over the Past 10 Years
Min: 4   Med: 6   Max: 9
Current: 6

4
9

During the past 13 years, the highest Piotroski F-Score of NetApp was 9. The lowest was 4. And the median was 6.


NetApp Piotroski F-Score Historical Data

The historical data trend for NetApp's Piotroski F-Score can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

NetApp Annual Data
Trend Apr12 Apr13 Apr14 Apr15 Apr16 Apr17 Apr18 Apr19 Apr20 Apr21
Piotroski F-Score
Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 7.00 6.00 7.00 6.00 6.00

NetApp Quarterly Data
Oct16 Jan17 Apr17 Jul17 Oct17 Jan18 Apr18 Jul18 Oct18 Jan19 Apr19 Jul19 Oct19 Jan20 Apr20 Jul20 Oct20 Jan21 Apr21 Jul21
Piotroski F-Score Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 7.00 7.00 7.00 6.00 6.00

Competitive Comparison

For the Computer Hardware subindustry, NetApp's Piotroski F-Score, along with its competitors' market caps and Piotroski F-Score data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

   

NetApp Piotroski F-Score Distribution

For the Hardware industry and Technology sector, NetApp's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where NetApp's Piotroski F-Score falls into.


How is the Piotroski F-Score calculated?

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

This Year (Jul21) TTM:Last Year (Jul20) TTM:
Net Income was 137 + 182 + 334 + 202 = $855 Mil.
Cash Flow from Operations was 161 + 373 + 559 + 242 = $1,335 Mil.
Revenue was 1416 + 1470 + 1555 + 1458 = $5,899 Mil.
Gross Profit was 933 + 975 + 1035 + 999 = $3,942 Mil.
Average Total Assets from the begining of this year (Jul20)
to the end of this year (Jul21) was
(8416 + 8420 + 8686 + 9360 + 9156) / 5 = $8807.6 Mil.
Total Assets at the begining of this year (Jul20) was $8,416 Mil.
Long-Term Debt & Capital Lease Obligation was $2,844 Mil.
Total Current Assets was $5,631 Mil.
Total Current Liabilities was $3,103 Mil.
Net Income was 243 + 277 + 196 + 77 = $793 Mil.

Revenue was 1371 + 1404 + 1401 + 1303 = $5,479 Mil.
Gross Profit was 925 + 941 + 941 + 872 = $3,679 Mil.
Average Total Assets from the begining of last year (Jul19)
to the end of last year (Jul20) was
(7811 + 7472 + 7483 + 7522 + 8416) / 5 = $7740.8 Mil.
Total Assets at the begining of last year (Jul19) was $7,811 Mil.
Long-Term Debt & Capital Lease Obligation was $2,720 Mil.
Total Current Assets was $4,817 Mil.
Total Current Liabilities was $2,976 Mil.

*Note: If the latest quarterly/semi-annual/annual total assets data is 0, then we will use previous quarterly/semi-annual/annual data for all the items in the balance sheet.

Profitability

Question 1. Return on Assets (ROA)

Net income before extraordinary items for the year divided by Total Assets at the beginning of the year.

Score 1 if positive, 0 if negative.

NetApp's current Net Income (TTM) was 855. ==> Positive ==> Score 1.

Question 2. Cash Flow Return on Assets (CFROA)

Net cash flow from operating activities (operating cash flow) divided by Total Assets at the beginning of the year.

Score 1 if positive, 0 if negative.

NetApp's current Cash Flow from Operations (TTM) was 1,335. ==> Positive ==> Score 1.

Question 3. Change in Return on Assets

Compare this year's return on assets (1) to last year's return on assets.

Score 1 if it's higher, 0 if it's lower.

ROA (This Year)=Net Income/Total Assets (Jul20)
=855/8416
=0.10159221

ROA (Last Year)=Net Income/Total Assets (Jul19)
=793/7811
=0.10152349

NetApp's return on assets of this year was 0.10159221. NetApp's return on assets of last year was 0.10152349. ==> This year is higher. ==> Score 1.

Question 4. Quality of Earnings (Accrual)

Compare Cash flow return on assets (2) to return on assets (1)

Score 1 if CFROA > ROA, 0 if CFROA <= ROA.

NetApp's current Net Income (TTM) was 855. NetApp's current Cash Flow from Operations (TTM) was 1,335. ==> 1,335 > 855 ==> CFROA > ROA ==> Score 1.

Funding

Question 5. Change in Gearing or Leverage

Compare this year's gearing (long-term debt divided by average total assets) to last year's gearing.

Score 0 if this year's gearing is higher, 1 otherwise.

Gearing (This Year: Jul21)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Jul20 to Jul21
=2844/8807.6
=0.32290295

Gearing (Last Year: Jul20)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Jul19 to Jul20
=2720/7740.8
=0.35138487

NetApp's gearing of this year was 0.32290295. NetApp's gearing of last year was 0.35138487. ==> This year is lower or equal to last year. ==> Score 1.

Question 6. Change in Working Capital (Liquidity)

Compare this year's current ratio (current assets divided by current liabilities) to last year's current ratio.

Score 1 if this year's current ratio is higher, 0 if it's lower

Current Ratio (This Year: Jul21)=Total Current Assets/Total Current Liabilities
=5631/3103
=1.81469546

Current Ratio (Last Year: Jul20)=Total Current Assets/Total Current Liabilities
=4817/2976
=1.61861559

NetApp's current ratio of this year was 1.81469546. NetApp's current ratio of last year was 1.61861559. ==> This year's current ratio is higher. ==> Score 1.

Question 7. Change in Shares in Issue

Compare the number of shares in issue this year, to the number in issue last year.

Score 0 if there is larger number of shares in issue this year, 1 otherwise.

NetApp's number of shares in issue this year was 229. NetApp's number of shares in issue last year was 222. ==> There is larger number of shares in issue this year. ==> Score 0.

Efficiency

Question 8. Change in Gross Margin

Compare this year's gross margin (Gross Profit divided by sales) to last year's.

Score 1 if this year's gross margin is higher, 0 if it's lower.

Gross Margin (This Year: TTM)=Gross Profit/Revenue
=3942/5899
=0.66824886

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=3679/5479
=0.6714729

NetApp's gross margin of this year was 0.66824886. NetApp's gross margin of last year was 0.6714729. ==> Last year's gross margin is higher ==> Score 0.

Question 9. Change in asset turnover

Compare this year's asset turnover (total sales for the year divided by total assets at the beginning of the year) to last year's asset turnover ratio.

Score 1 if this year's asset turnover ratio is higher, 0 if it's lower

Asset Turnover (This Year)=Revenue/Total Assets at the Beginning of This Year (Jul20)
=5899/8416
=0.70092681

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Jul19)
=5479/7811
=0.70144668

NetApp's asset turnover of this year was 0.70092681. NetApp's asset turnover of last year was 0.70144668. ==> Last year's asset turnover is higher ==> Score 0.

Evaluation

Piotroski F-Score= Que. 1+ Que. 2+ Que. 3+Que. 4+Que. 5+Que. 6+Que. 7+Que. 8+Que. 9
=1+1+1+1+1+1+0+0+0
=6

Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3

NetApp has an F-score of 6 indicating the company's financial situation is typical for a stable company.

NetApp  (NAS:NTAP) Piotroski F-Score Explanation

The developer of the system is Joseph D. Piotroski is relatively unknown accounting professor who shuns publicity and rarely gives interviews.

He graduated from the University of Illinois with a B.S. in accounting in 1989, received an M.B.A. from Indiana University in 1994. Five years later, in 1999, after earning a Ph.D. in accounting from the University of Michigan, he became an associate professor of accounting at the University of Chicago.

In 2000, he wrote a research paper called "Value Investing: The Use of Historical Financial Statement Information to Separate Winners from Losers" (pdf).

He wanted to see if he can develop a system (using a simple nine-point scoring system) that can increase the returns of a strategy of investing in low price to book (referred to in the paper as high book to market) value companies.

What he found was something that exceeded his most optimistic expectations.

Buying only those companies that scored highest (8 or 9) on his nine-point scale, or F-Score as he called it, over the 20 year period from 1976 to 1996 led to an average out-performance over the market of 13.4%.

Even more impressive were the results of a strategy of investing in the highest F-Score companies (8 or 9) and shorting companies with the lowest F-Score (0 or 1).

Over the same period from 1976 to 1996 (20 years) this strategy led to an average yearly return of 23%, substantially outperforming the average S&P 500 index return of 15.83% over the same period.


NetApp Piotroski F-Score Related Terms

Thank you for viewing the detailed overview of NetApp's Piotroski F-Score provided by GuruFocus.com. Please click on the following links to see related term pages.


NetApp Business Description

NetApp logo
Industry
Technology » Hardware NAICS : 334112 SIC : 3572
Traded in Other Exchanges
Address
1395 Crossman Avenue, Sunnyvale, CA, USA, 94089
NetApp is a leading provider of enterprise data management and storage solutions. The company's three operating business units are products, software maintenance, and hardware maintenance. NetApp transitioned from a data center storage firm to a company with software data management solutions for multicloud environments. The California-headquartered company sells globally and has approximately 10,000 employees.
Executives
Allen Scott R. officer: SVP, Chief Accounting Officer 11690 N.W. 105TH STREET MIAMI FL 33178
Anderson Brad officer: EVP, SSSBU and CIBU ONE DELL WAY ROUND ROCK TX 78682
Hill Kathryn director 7 WORLD TRADE CENTER 250 GREENWICH STREET NEW YORK NY 10007
Ahuja Deepak director C/O TESLA MOTORS, INC. 3500 DEER CREEK ROAD PALO ALTO CA 94304
Schenkel Scott F. director C/O EBAY INC. 2025 HAMILTON AVE. SAN JOSE CA 95125
Kerr Deborah director 901 MARQUETTE AVENUE SUITE 3200 MINNEAPOLIS MN 55402
Nevens Thomas Michael director C/O BORLAND SOFTWARE CORPORATION 20450 STEVENS CREEK BLVD, SUITE 800 CUPERTINO CA 95014
Shaheen George T director PUBLIC "-//W3C//DTD HTML 4.0 Transitional//EN"> Ownership Information: SHAHEEN GEORGE T a.header:link {color: #3b4fae; font-weight: bold; text-decoration: underline;} a.header:visited {color: #3b4fae; font-weight: bold; text-decoration: underline;} a.header:hover {color: #191970;}
Held Gerald director PUBLIC "-//W3C//DTD HTML 4.0 Transitional//EN"> Ownership Information: HELD GERALD a.header:link {color: #3b4fae; font-weight: bold; text-decoration: underline;} a.header:visited {color: #3b4fae; font-weight: bold; text-decoration: underline;} a.header:hover {color: #191970;}
Cernuda Cesar officer: President 1395 CROSSMAN AVENUE SUNNYVALE CA 94089
Berry Michael J officer: EVP Finance & Operations, CFO C/O INFORMATICA CORPORATION 2100 SEAPORT BOULEVARD REDWOOD CITY CA 94063
Fawcett Matthew K officer: SVP, GC & Secretary 495 EAST JAVA DRIVE SUNNYVALE CA 94089
Kurian George director, officer: CEO C/O NETAPP 495 E. JAVA DRIVE SUNNYVALE CA 94089
Pasek Ronald J officer: EVP Finance & Operations, CFO 101 INNOVATION DRIVE SAN JOSE CA 95134
Richard Henri P officer: EVP, Go To Market FREESCALE SEMICONDUCTOR, INC. 2680 ZANKER RD, SUITE 200 SAN JOSE CA 95134

NetApp Headlines

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