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GuruFocus Financial Strength Rank measures how strong a company’s financial situation is. It is based on these factors

1. The debt burden that the company has as measured by its Interest coverage (current year).
2. Debt to revenue ratio. The lower, the better
3. Altman Z-score.

A company ranks high with financial strength is likely to withstand any business slowdowns and recessions.

Financial Strength : 7/10

vs
industry
vs
history
Cash to Debt No Debt
NATI's Cash to Debt is ranked higher than
84% of the 1618 Companies
in the Global Software - Application industry.

( Industry Median: 25.64 vs. NATI: No Debt )
NATI' s 10-Year Cash to Debt Range
Min: 0.88   Max: No Debt
Current: No Debt

Equity to Asset 0.76
NATI's Equity to Asset is ranked higher than
82% of the 1589 Companies
in the Global Software - Application industry.

( Industry Median: 0.60 vs. NATI: 0.76 )
NATI' s 10-Year Equity to Asset Range
Min: 0.72   Max: 0.86
Current: 0.76

0.72
0.86
Interest Coverage No Debt
NATI's Interest Coverage is ranked higher than
75% of the 1077 Companies
in the Global Software - Application industry.

( Industry Median: 403.68 vs. NATI: No Debt )
NATI' s 10-Year Interest Coverage Range
Min: 29.44   Max: 9999.99
Current: No Debt

29.44
9999.99
F-Score: 4
Z-Score: 8.45
M-Score: -2.81
GuruFocus Profitability Rank ranks how profitable a company is and how likely the company’s business will stay that way. It is based on these factors:

1. Operating Margin
2. Trend of the Operating Margin (5-year average). The company with an uptrend profit margin has a higher rank.
••3. Consistency of the profitability
4. Piotroski F-Score
5. Predictability Rank•

The maximum rank is 10. A rank of 7 or higher means a higher profitability and may stay that way. A rank of 3 or lower indicates that the company has had trouble to make a profit.

Profitability Rank is not directly related to the Financial Strength Rank. But if a company is consistently profitable, its financial strength will be stronger.

Profitability & Growth : 7/10

vs
industry
vs
history
Operating margin (%) 8.41
NATI's Operating margin (%) is ranked higher than
76% of the 1604 Companies
in the Global Software - Application industry.

( Industry Median: 5.48 vs. NATI: 8.41 )
NATI' s 10-Year Operating margin (%) Range
Min: 6.88   Max: 20.71
Current: 8.41

6.88
20.71
Net-margin (%) 6.87
NATI's Net-margin (%) is ranked higher than
78% of the 1602 Companies
in the Global Software - Application industry.

( Industry Median: 3.67 vs. NATI: 6.87 )
NATI' s 10-Year Net-margin (%) Range
Min: 2.53   Max: 14.46
Current: 6.87

2.53
14.46
ROE (%) 7.87
NATI's ROE (%) is ranked higher than
71% of the 1564 Companies
in the Global Software - Application industry.

( Industry Median: 6.77 vs. NATI: 7.87 )
NATI' s 10-Year ROE (%) Range
Min: 2.61   Max: 20.77
Current: 7.87

2.61
20.77
ROA (%) 5.99
NATI's ROA (%) is ranked higher than
79% of the 1616 Companies
in the Global Software - Application industry.

( Industry Median: 3.63 vs. NATI: 5.99 )
NATI' s 10-Year ROA (%) Range
Min: 2.1   Max: 16.43
Current: 5.99

2.1
16.43
ROC (Joel Greenblatt) (%) 20.96
NATI's ROC (Joel Greenblatt) (%) is ranked higher than
64% of the 1600 Companies
in the Global Software - Application industry.

( Industry Median: 30.96 vs. NATI: 20.96 )
NATI' s 10-Year ROC (Joel Greenblatt) (%) Range
Min: 16.72   Max: 54.5
Current: 20.96

16.72
54.5
Revenue Growth (%) 8.30
NATI's Revenue Growth (%) is ranked higher than
74% of the 1208 Companies
in the Global Software - Application industry.

( Industry Median: 6.30 vs. NATI: 8.30 )
NATI' s 10-Year Revenue Growth (%) Range
Min: 1.1   Max: 17.2
Current: 8.3

1.1
17.2
EBITDA Growth (%) -1.70
NATI's EBITDA Growth (%) is ranked higher than
63% of the 951 Companies
in the Global Software - Application industry.

( Industry Median: 7.70 vs. NATI: -1.70 )
NATI' s 10-Year EBITDA Growth (%) Range
Min: -11.1   Max: 25.1
Current: -1.7

-11.1
25.1
EPS Growth (%) -11.40
NATI's EPS Growth (%) is ranked higher than
58% of the 892 Companies
in the Global Software - Application industry.

( Industry Median: 8.80 vs. NATI: -11.40 )
NATI' s 10-Year EPS Growth (%) Range
Min: -36.7   Max: 69.5
Current: -11.4

-36.7
69.5
» NATI's 10-Y Financials

Financials


Revenue & Net Income
Cash & Debt
Oprt. Cash Flow & Free Cash Flow

» Details

Guru Trades

Q1 2013

NATI Guru Trades in Q1 2013

Jim Simons 55,290 sh (New)
Steven Cohen 14,102 sh (+78.3%)
Ron Baron 1,000,000 sh (unchged)
Meryl Witmer 26,025 sh (unchged)
Chuck Royce 6,227,251 sh (-0.03%)
» More
Q2 2013

NATI Guru Trades in Q2 2013

Meridian Funds 288,400 sh (New)
Paul Tudor Jones 20,100 sh (New)
Meryl Witmer 26,025 sh (unchged)
Ron Baron Sold Out
Chuck Royce 6,212,951 sh (-0.23%)
Jim Simons 51,466 sh (-6.92%)
Steven Cohen 11,842 sh (-16.03%)
» More
Q3 2013

NATI Guru Trades in Q3 2013

Murray Stahl 11,239 sh (New)
Jim Simons Sold Out
Paul Tudor Jones Sold Out
Steven Cohen Sold Out
Chuck Royce 6,059,651 sh (-2.47%)
» More
Q4 2013

NATI Guru Trades in Q4 2013

Steven Cohen 15,997 sh (New)
Murray Stahl 17,047 sh (+51.68%)
Chuck Royce 5,994,551 sh (-1.07%)
» More
» Details

Insider Trades

Latest Guru Trades with NATI

GuruDate Trades Impact to Portfolio Price Range * (?) Current Price Change from Average Current Shares
Meridian Funds 2013-06-30 New Buy0.3%$26.56 - $31.97 $ 27.58-4%288400
Ron Baron 2013-06-30 Sold Out 0.18%$26.56 - $31.97 $ 27.58-4%0
Ron Baron 2012-03-31 Reduce -33.33%0.08%$24.51 - $28.41 $ 27.589%1000000
Ray Dalio 2011-12-31 Sold Out 0.08%$21.72 - $28.29 $ 27.588%0
Ray Dalio 2011-09-30 Reduce -33.75%0.05%$22.16 - $31.02 $ 27.587%220401
Ron Baron 2011-03-31 Reduce -33.33%0.13%$25.0933 - $46.37 $ 27.58-8%1500000
Premium More recent guru trades are included for Premium Members only!!
» Interactive Charts

Peter Lynch Chart ( What is Peter Lynch Charts )

Ratios

vs
industry
vs
history
P/E(ttm) 42.70
NATI's P/E(ttm) is ranked lower than
56% of the 1119 Companies
in the Global Software - Application industry.

( Industry Median: 23.20 vs. NATI: 42.70 )
NATI' s 10-Year P/E(ttm) Range
Min: 15.78   Max: 143.4
Current: 42.7

15.78
143.4
P/B 3.30
NATI's P/B is ranked lower than
51% of the 1504 Companies
in the Global Software - Application industry.

( Industry Median: 2.45 vs. NATI: 3.30 )
NATI' s 10-Year P/B Range
Min: 1.94   Max: 6.23
Current: 3.3

1.94
6.23
P/S 3.00
NATI's P/S is ranked lower than
59% of the 1650 Companies
in the Global Software - Application industry.

( Industry Median: 1.98 vs. NATI: 3.00 )
NATI' s 10-Year P/S Range
Min: 1.65   Max: 6.68
Current: 3

1.65
6.68
PFCF 33.70
NATI's PFCF is ranked lower than
58% of the 874 Companies
in the Global Software - Application industry.

( Industry Median: 19.50 vs. NATI: 33.70 )
NATI' s 10-Year PFCF Range
Min: 16.41   Max: 545.83
Current: 33.7

16.41
545.83
EV-to-EBIT 31.30
NATI's EV-to-EBIT is ranked lower than
58% of the 1278 Companies
in the Global Software - Application industry.

( Industry Median: 17.39 vs. NATI: 31.30 )
NATI' s 10-Year EV-to-EBIT Range
Min: 11.7   Max: 66.7
Current: 31.3

11.7
66.7
PEG 3.20
NATI's PEG is ranked lower than
53% of the 601 Companies
in the Global Software - Application industry.

( Industry Median: 1.98 vs. NATI: 3.20 )
NATI' s 10-Year PEG Range
Min: 0.95   Max: 62.25
Current: 3.2

0.95
62.25
Shiller P/E 38.20
NATI's Shiller P/E is ranked higher than
55% of the 616 Companies
in the Global Software - Application industry.

( Industry Median: 29.33 vs. NATI: 38.20 )
NATI' s 10-Year Shiller P/E Range
Min: 19.47   Max: 65.09
Current: 38.2

19.47
65.09

Dividend & Buy Back

vs
industry
vs
history
Dividend Yield 2.10
NATI's Dividend Yield is ranked higher than
60% of the 822 Companies
in the Global Software - Application industry.

( Industry Median: 1.80 vs. NATI: 2.10 )
NATI' s 10-Year Dividend Yield Range
Min: 0.11   Max: 2.73
Current: 2.1

0.11
2.73
Dividend Payout 0.87
NATI's Dividend Payout is ranked lower than
65% of the 656 Companies
in the Global Software - Application industry.

( Industry Median: 0.35 vs. NATI: 0.87 )
NATI' s 10-Year Dividend Payout Range
Min: 0.16   Max: 2.18
Current: 0.87

0.16
2.18
Dividend growth (3y) 17.30
NATI's Dividend growth (3y) is ranked higher than
86% of the 324 Companies
in the Global Software - Application industry.

( Industry Median: 1.60 vs. NATI: 17.30 )
NATI' s 10-Year Dividend growth (3y) Range
Min: 0   Max: 53.8
Current: 17.3

0
53.8
Yield on cost (5-Year) 4.66
NATI's Yield on cost (5-Year) is ranked higher than
85% of the 862 Companies
in the Global Software - Application industry.

( Industry Median: 1.84 vs. NATI: 4.66 )
NATI' s 10-Year Yield on cost (5-Year) Range
Min: 0.24   Max: 6.06
Current: 4.66

0.24
6.06
Share Buyback Rate -1.90
NATI's Share Buyback Rate is ranked higher than
69% of the 1057 Companies
in the Global Software - Application industry.

( Industry Median: -1.60 vs. NATI: -1.90 )
NATI' s 10-Year Share Buyback Rate Range
Min: 1.4   Max: -2.9
Current: -1.9

Valuation & Return

vs
industry
vs
history
Price/Net Cash 47.10
NATI's Price/Net Cash is ranked lower than
80% of the 481 Companies
in the Global Software - Application industry.

( Industry Median: 13.30 vs. NATI: 47.10 )
NATI' s 10-Year Price/Net Cash Range
Min: 16.52   Max: 55.21
Current: 47.1

16.52
55.21
Price/Net Current Asset Value 11.60
NATI's Price/Net Current Asset Value is ranked lower than
51% of the 672 Companies
in the Global Software - Application industry.

( Industry Median: 11.00 vs. NATI: 11.60 )
NATI' s 10-Year Price/Net Current Asset Value Range
Min: 8.65   Max: 133.33
Current: 11.6

8.65
133.33
Price/Tangible Book 4.30
NATI's Price/Tangible Book is ranked higher than
51% of the 1245 Companies
in the Global Software - Application industry.

( Industry Median: 4.00 vs. NATI: 4.30 )
NATI' s 10-Year Price/Tangible Book Range
Min: 3.46   Max: 8.46
Current: 4.3

3.46
8.46
Price/DCF (Projected) 1.70
NATI's Price/DCF (Projected) is ranked higher than
55% of the 753 Companies
in the Global Software - Application industry.

( Industry Median: 1.50 vs. NATI: 1.70 )
NATI' s 10-Year Price/DCF (Projected) Range
Min: 1.25   Max: 5.24
Current: 1.7

1.25
5.24
Price/Median PS Value 0.90
NATI's Price/Median PS Value is ranked higher than
81% of the 1516 Companies
in the Global Software - Application industry.

( Industry Median: 1.10 vs. NATI: 0.90 )
NATI' s 10-Year Price/Median PS Value Range
Min: 0.7   Max: 1.87
Current: 0.9

0.7
1.87
Price/Peter Lynch Fair Value 3.10
NATI's Price/Peter Lynch Fair Value is ranked lower than
65% of the 365 Companies
in the Global Software - Application industry.

( Industry Median: 1.50 vs. NATI: 3.10 )
NATI' s 10-Year Price/Peter Lynch Fair Value Range
Min: 1.35   Max: 15.96
Current: 3.1

1.35
15.96
Price/Graham Number 2.90
NATI's Price/Graham Number is ranked lower than
52% of the 911 Companies
in the Global Software - Application industry.

( Industry Median: 2.20 vs. NATI: 2.90 )
NATI' s 10-Year Price/Graham Number Range
Min: 1.87   Max: 4.97
Current: 2.9

1.87
4.97
Earnings Yield (Greenblatt) 3.20
NATI's Earnings Yield (Greenblatt) is ranked lower than
52% of the 1324 Companies
in the Global Software - Application industry.

( Industry Median: 5.40 vs. NATI: 3.20 )
NATI' s 10-Year Earnings Yield (Greenblatt) Range
Min: 1.5   Max: 8.5
Current: 3.2

1.5
8.5
Forward Rate of Return (Yacktman) 15.55
NATI's Forward Rate of Return (Yacktman) is ranked higher than
83% of the 1007 Companies
in the Global Software - Application industry.

( Industry Median: 5.32 vs. NATI: 15.55 )
NATI' s 10-Year Forward Rate of Return (Yacktman) Range
Min: -5.9   Max: 20.9
Current: 15.55

-5.9
20.9

Business Description

Industry: Application Software » Software - Application
Compare:CRM, SQI, RHT, INTU, ADBE » details
Traded in other countries:NI1.Germany
National Instruments Corporation was incorporated under the laws of the State of Texas in May 1976 and reincorporated in Delaware in June 1994. The Company designs, manufactures and sells tools to engineers and scientists that accelerate productivity, innovation and discovery. Customers use the company's products to measure electrical signals, such as voltage, and to observe physical phenomena, such as temperature. Geographically, its operations are segmented into four regions: Americas, Europe, East Asia and Emerging Asia Rest of World. Its software and hardware products are primarily sold through a direct sales organization. It also uses independent distributors, OEMs, VARs, system integrators and consultants to market their products.

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