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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
97% of the 1781 Companies
in the Global Software - Application industry.

( Industry Median: 20.60 vs. NATI: No Debt )
Ranked among companies with meaningful Cash to Debt only.
NATI' s 10-Year Cash to Debt Range
Min: 0.4  Med: 10000.00 Max: No Debt
Current: No Debt
Equity to Asset 0.77
NATI's Equity to Asset is ranked higher than
77% of the 1579 Companies
in the Global Software - Application industry.

( Industry Median: 0.61 vs. NATI: 0.77 )
Ranked among companies with meaningful Equity to Asset only.
NATI' s 10-Year Equity to Asset Range
Min: 0.69  Med: 0.80 Max: 0.86
Current: 0.77
0.69
0.86
Interest Coverage No Debt
NATI's Interest Coverage is ranked higher than
96% of the 1164 Companies
in the Global Software - Application industry.

( Industry Median: 10000.00 vs. NATI: No Debt )
Ranked among companies with meaningful Interest Coverage only.
NATI' s 10-Year Interest Coverage Range
Min: 29.44  Med: 6011.23 Max: 9999.99
Current: No Debt
29.44
9999.99
F-Score: 6
Z-Score: 8.89
M-Score: -2.64
WACC vs ROIC
10.36%
18.87%
WACC
ROIC
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 : 8/10

vs
industry
vs
history
Operating margin (%) 11.65
NATI's Operating margin (%) is ranked higher than
73% of the 1748 Companies
in the Global Software - Application industry.

( Industry Median: 5.11 vs. NATI: 11.65 )
Ranked among companies with meaningful Operating margin (%) only.
NATI' s 10-Year Operating margin (%) Range
Min: 6.88  Med: 12.93 Max: 20.71
Current: 11.65
6.88
20.71
Net-margin (%) 9.94
NATI's Net-margin (%) is ranked higher than
74% of the 1748 Companies
in the Global Software - Application industry.

( Industry Median: 3.20 vs. NATI: 9.94 )
Ranked among companies with meaningful Net-margin (%) only.
NATI' s 10-Year Net-margin (%) Range
Min: 2.53  Med: 10.45 Max: 14.46
Current: 9.94
2.53
14.46
ROE (%) 11.19
NATI's ROE (%) is ranked higher than
65% of the 1703 Companies
in the Global Software - Application industry.

( Industry Median: 6.27 vs. NATI: 11.19 )
Ranked among companies with meaningful ROE (%) only.
NATI' s 10-Year ROE (%) Range
Min: 2.59  Med: 12.42 Max: 23.27
Current: 11.19
2.59
23.27
ROA (%) 8.57
NATI's ROA (%) is ranked higher than
74% of the 1788 Companies
in the Global Software - Application industry.

( Industry Median: 3.29 vs. NATI: 8.57 )
Ranked among companies with meaningful ROA (%) only.
NATI' s 10-Year ROA (%) Range
Min: 2.08  Med: 10.27 Max: 17.98
Current: 8.57
2.08
17.98
ROC (Joel Greenblatt) (%) 28.99
NATI's ROC (Joel Greenblatt) (%) is ranked higher than
53% of the 1761 Companies
in the Global Software - Application industry.

( Industry Median: 24.35 vs. NATI: 28.99 )
Ranked among companies with meaningful ROC (Joel Greenblatt) (%) only.
NATI' s 10-Year ROC (Joel Greenblatt) (%) Range
Min: 15.63  Med: 32.85 Max: 75.68
Current: 28.99
15.63
75.68
Revenue Growth (3Y)(%) 4.80
NATI's Revenue Growth (3Y)(%) is ranked lower than
51% of the 1315 Companies
in the Global Software - Application industry.

( Industry Median: 5.30 vs. NATI: 4.80 )
Ranked among companies with meaningful Revenue Growth (3Y)(%) only.
NATI' s 10-Year Revenue Growth (3Y)(%) Range
Min: 1.1  Med: 10.30 Max: 17.2
Current: 4.8
1.1
17.2
EBITDA Growth (3Y)(%) 8.00
NATI's EBITDA Growth (3Y)(%) is ranked higher than
53% of the 1053 Companies
in the Global Software - Application industry.

( Industry Median: 6.80 vs. NATI: 8.00 )
Ranked among companies with meaningful EBITDA Growth (3Y)(%) only.
NATI' s 10-Year EBITDA Growth (3Y)(%) Range
Min: -11.1  Med: 8.00 Max: 25.1
Current: 8
-11.1
25.1
EPS Growth (3Y)(%) 8.30
NATI's EPS Growth (3Y)(%) is ranked higher than
53% of the 975 Companies
in the Global Software - Application industry.

( Industry Median: 6.70 vs. NATI: 8.30 )
Ranked among companies with meaningful EPS Growth (3Y)(%) only.
NATI' s 10-Year EPS Growth (3Y)(%) Range
Min: -36.7  Med: 9.10 Max: 69.5
Current: 8.3
-36.7
69.5
» NATI's 10-Y Financials

Financials


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

» Details

Guru Trades

Q3 2014

NATI Guru Trades in Q3 2014

Murray Stahl 26,398 sh (+6.40%)
Mariko Gordon 163,318 sh (unchged)
Chuck Royce 6,020,551 sh (-0.40%)
Jim Simons 77,166 sh (-9.50%)
Joel Greenblatt 29,287 sh (-42.39%)
» More
Q4 2014

NATI Guru Trades in Q4 2014

Paul Tudor Jones 12,106 sh (New)
Joel Greenblatt 463,083 sh (+1481.19%)
Jim Simons 163,066 sh (+111.32%)
Murray Stahl 27,005 sh (+2.30%)
Chuck Royce 6,078,371 sh (+0.96%)
Mariko Gordon 163,318 sh (unchged)
» More
Q1 2015

NATI Guru Trades in Q1 2015

Jim Simons 424,166 sh (+160.12%)
Paul Tudor Jones 25,198 sh (+108.14%)
Murray Stahl 25,977 sh (-3.81%)
Chuck Royce 5,732,311 sh (-5.69%)
Mariko Gordon 141,645 sh (-13.27%)
Joel Greenblatt 91,002 sh (-80.35%)
» More
Q2 2015

NATI Guru Trades in Q2 2015

Murray Stahl 29,672 sh (+14.22%)
Joel Greenblatt Sold Out
Mariko Gordon 140,081 sh (-1.10%)
Jim Simons 394,866 sh (-6.91%)
Chuck Royce 5,062,085 sh (-11.69%)
Paul Tudor Jones 16,906 sh (-32.91%)
» More
» Details

Insider Trades

Latest Guru Trades with NATI

(List those with share number changes of more than 20%, or impact to portfolio more than 0.1%)

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Top Ranked Articles about National Instruments Corp

Royce Deals in His Top 20 Holdings in Fourth Quarter
Guru Chuck Royce (Trades, Portfolio), co-chief investment officer and portfolio manager of Royce Funds in New York, follows an investment philosophy that favors investing in smaller companies. “We are looking for what we believe are terrific stocks trading for less than our estimate of the company's worth as a business – its enterprise value,” he has said. Read more...

Ratios

vs
industry
vs
history
P/E(ttm) 29.68
NATI's P/E(ttm) is ranked lower than
61% of the 1109 Companies
in the Global Software - Application industry.

( Industry Median: 24.00 vs. NATI: 29.68 )
Ranked among companies with meaningful P/E(ttm) only.
NATI' s 10-Year P/E(ttm) Range
Min: 15.78  Med: 34.74 Max: 143.4
Current: 29.68
15.78
143.4
Forward P/E 20.28
NATI's Forward P/E is ranked lower than
54% of the 528 Companies
in the Global Software - Application industry.

( Industry Median: 19.16 vs. NATI: 20.28 )
Ranked among companies with meaningful Forward P/E only.
N/A
PE(NRI) 30.50
NATI's PE(NRI) is ranked lower than
61% of the 1101 Companies
in the Global Software - Application industry.

( Industry Median: 23.80 vs. NATI: 30.50 )
Ranked among companies with meaningful PE(NRI) only.
NATI' s 10-Year PE(NRI) Range
Min: 15.64  Med: 35.30 Max: 150.57
Current: 30.5
15.64
150.57
P/B 3.25
NATI's P/B is ranked lower than
60% of the 1572 Companies
in the Global Software - Application industry.

( Industry Median: 2.63 vs. NATI: 3.25 )
Ranked among companies with meaningful P/B only.
NATI' s 10-Year P/B Range
Min: 1.94  Med: 3.72 Max: 5.66
Current: 3.25
1.94
5.66
P/S 2.95
NATI's P/S is ranked lower than
62% of the 1715 Companies
in the Global Software - Application industry.

( Industry Median: 2.00 vs. NATI: 2.95 )
Ranked among companies with meaningful P/S only.
NATI' s 10-Year P/S Range
Min: 1.65  Med: 3.27 Max: 5.08
Current: 2.95
1.65
5.08
PFCF 32.28
NATI's PFCF is ranked lower than
65% of the 815 Companies
in the Global Software - Application industry.

( Industry Median: 24.41 vs. NATI: 32.28 )
Ranked among companies with meaningful PFCF only.
NATI' s 10-Year PFCF Range
Min: 16.41  Med: 32.81 Max: 545.83
Current: 32.28
16.41
545.83
POCF 20.44
NATI's POCF is ranked lower than
59% of the 1017 Companies
in the Global Software - Application industry.

( Industry Median: 17.74 vs. NATI: 20.44 )
Ranked among companies with meaningful POCF only.
NATI' s 10-Year POCF Range
Min: 11.29  Med: 20.62 Max: 41.94
Current: 20.44
11.29
41.94
EV-to-EBIT 22.48
NATI's EV-to-EBIT is ranked lower than
64% of the 1149 Companies
in the Global Software - Application industry.

( Industry Median: 16.13 vs. NATI: 22.48 )
Ranked among companies with meaningful EV-to-EBIT only.
NATI' s 10-Year EV-to-EBIT Range
Min: 11.7  Med: 25.20 Max: 60.3
Current: 22.48
11.7
60.3
PEG 2.44
NATI's PEG is ranked lower than
62% of the 487 Companies
in the Global Software - Application industry.

( Industry Median: 1.75 vs. NATI: 2.44 )
Ranked among companies with meaningful PEG only.
NATI' s 10-Year PEG Range
Min: 0.95  Med: 3.90 Max: 62.25
Current: 2.44
0.95
62.25
Shiller P/E 36.26
NATI's Shiller P/E is ranked lower than
62% of the 699 Companies
in the Global Software - Application industry.

( Industry Median: 28.94 vs. NATI: 36.26 )
Ranked among companies with meaningful Shiller P/E only.
NATI' s 10-Year Shiller P/E Range
Min: 19.81  Med: 39.21 Max: 60
Current: 36.26
19.81
60
Current Ratio 3.80
NATI's Current Ratio is ranked higher than
77% of the 1625 Companies
in the Global Software - Application industry.

( Industry Median: 2.07 vs. NATI: 3.80 )
Ranked among companies with meaningful Current Ratio only.
NATI' s 10-Year Current Ratio Range
Min: 3.13  Med: 4.18 Max: 5.22
Current: 3.8
3.13
5.22
Quick Ratio 3.03
NATI's Quick Ratio is ranked higher than
70% of the 1625 Companies
in the Global Software - Application industry.

( Industry Median: 1.92 vs. NATI: 3.03 )
Ranked among companies with meaningful Quick Ratio only.
NATI' s 10-Year Quick Ratio Range
Min: 2.42  Med: 3.57 Max: 4.58
Current: 3.03
2.42
4.58
Days Inventory 201.16
NATI's Days Inventory is ranked lower than
96% of the 1028 Companies
in the Global Software - Application industry.

( Industry Median: 17.89 vs. NATI: 201.16 )
Ranked among companies with meaningful Days Inventory only.
NATI' s 10-Year Days Inventory Range
Min: 107.38  Med: 142.85 Max: 208.27
Current: 201.16
107.38
208.27
Days Sales Outstanding 60.62
NATI's Days Sales Outstanding is ranked higher than
59% of the 1511 Companies
in the Global Software - Application industry.

( Industry Median: 69.32 vs. NATI: 60.62 )
Ranked among companies with meaningful Days Sales Outstanding only.
NATI' s 10-Year Days Sales Outstanding Range
Min: 50.8  Med: 60.20 Max: 66.82
Current: 60.62
50.8
66.82

Dividend & Buy Back

vs
industry
vs
history
Dividend Yield 2.54
NATI's Dividend Yield is ranked higher than
67% of the 1264 Companies
in the Global Software - Application industry.

( Industry Median: 1.77 vs. NATI: 2.54 )
Ranked among companies with meaningful Dividend Yield only.
NATI' s 10-Year Dividend Yield Range
Min: 0.54  Med: 1.55 Max: 2.73
Current: 2.54
0.54
2.73
Dividend Payout 0.71
NATI's Dividend Payout is ranked lower than
66% of the 766 Companies
in the Global Software - Application industry.

( Industry Median: 9999.00 vs. NATI: 0.71 )
Ranked among companies with meaningful Dividend Payout only.
NATI' s 10-Year Dividend Payout Range
Min: 0.18  Med: 0.45 Max: 4
Current: 0.71
0.18
4
Dividend growth (3y) 14.50
NATI's Dividend growth (3y) is ranked higher than
66% of the 439 Companies
in the Global Software - Application industry.

( Industry Median: 7.10 vs. NATI: 14.50 )
Ranked among companies with meaningful Dividend growth (3y) only.
NATI' s 10-Year Dividend growth (3y) Range
Min: 0  Med: 10.90 Max: 53.8
Current: 14.5
0
53.8
Yield on cost (5-Year) 5.09
NATI's Yield on cost (5-Year) is ranked higher than
81% of the 1295 Companies
in the Global Software - Application industry.

( Industry Median: 2.02 vs. NATI: 5.09 )
Ranked among companies with meaningful Yield on cost (5-Year) only.
NATI' s 10-Year Yield on cost (5-Year) Range
Min: 1.09  Med: 3.13 Max: 5.51
Current: 5.09
1.09
5.51
Share Buyback Rate -1.80
NATI's Share Buyback Rate is ranked higher than
53% of the 1149 Companies
in the Global Software - Application industry.

( Industry Median: -2.20 vs. NATI: -1.80 )
Ranked among companies with meaningful Share Buyback Rate only.
NATI' s 10-Year Share Buyback Rate Range
Min: 1.4  Med: -0.70 Max: -2.9
Current: -1.8

Valuation & Return

vs
industry
vs
history
Price/Net Cash 42.39
NATI's Price/Net Cash is ranked lower than
85% of the 526 Companies
in the Global Software - Application industry.

( Industry Median: 10.71 vs. NATI: 42.39 )
Ranked among companies with meaningful Price/Net Cash only.
NATI' s 10-Year Price/Net Cash Range
Min: 14.18  Med: 23.57 Max: 281.18
Current: 42.39
14.18
281.18
Price/Net Current Asset Value 6.17
NATI's Price/Net Current Asset Value is ranked higher than
52% of the 1036 Companies
in the Global Software - Application industry.

( Industry Median: 6.56 vs. NATI: 6.17 )
Ranked among companies with meaningful Price/Net Current Asset Value only.
NATI' s 10-Year Price/Net Current Asset Value Range
Min: 4.1  Med: 7.46 Max: 13.29
Current: 6.17
4.1
13.29
Price/Tangible Book 4.16
NATI's Price/Tangible Book is ranked lower than
52% of the 1327 Companies
in the Global Software - Application industry.

( Industry Median: 4.00 vs. NATI: 4.16 )
Ranked among companies with meaningful Price/Tangible Book only.
NATI' s 10-Year Price/Tangible Book Range
Min: 2.63  Med: 4.88 Max: 9.4
Current: 4.16
2.63
9.4
Price/Projected FCF 1.94
NATI's Price/Projected FCF is ranked lower than
59% of the 823 Companies
in the Global Software - Application industry.

( Industry Median: 1.66 vs. NATI: 1.94 )
Ranked among companies with meaningful Price/Projected FCF only.
NATI' s 10-Year Price/Projected FCF Range
Min: 0.98  Med: 2.15 Max: 5
Current: 1.94
0.98
5
Price/DCF (Earnings Based) 2.71
NATI's Price/DCF (Earnings Based) is ranked lower than
73% of the 99 Companies
in the Global Software - Application industry.

( Industry Median: 1.36 vs. NATI: 2.71 )
Ranked among companies with meaningful Price/DCF (Earnings Based) only.
N/A
Price/Median PS Value 0.90
NATI's Price/Median PS Value is ranked higher than
66% of the 1520 Companies
in the Global Software - Application industry.

( Industry Median: 1.11 vs. NATI: 0.90 )
Ranked among companies with meaningful Price/Median PS Value only.
NATI' s 10-Year Price/Median PS Value Range
Min: 0.57  Med: 1.08 Max: 2.16
Current: 0.9
0.57
2.16
Price/Graham Number 2.34
NATI's Price/Graham Number is ranked lower than
57% of the 853 Companies
in the Global Software - Application industry.

( Industry Median: 2.03 vs. NATI: 2.34 )
Ranked among companies with meaningful Price/Graham Number only.
NATI' s 10-Year Price/Graham Number Range
Min: 1.58  Med: 2.84 Max: 4.97
Current: 2.34
1.58
4.97
Earnings Yield (Greenblatt) (%) 4.40
NATI's Earnings Yield (Greenblatt) (%) is ranked higher than
57% of the 1711 Companies
in the Global Software - Application industry.

( Industry Median: 2.80 vs. NATI: 4.40 )
Ranked among companies with meaningful Earnings Yield (Greenblatt) (%) only.
NATI' s 10-Year Earnings Yield (Greenblatt) (%) Range
Min: 1.7  Med: 4.00 Max: 8.5
Current: 4.4
1.7
8.5
Forward Rate of Return (Yacktman) (%) 5.05
NATI's Forward Rate of Return (Yacktman) (%) is ranked lower than
64% of the 694 Companies
in the Global Software - Application industry.

( Industry Median: 10.48 vs. NATI: 5.05 )
Ranked among companies with meaningful Forward Rate of Return (Yacktman) (%) only.
NATI' s 10-Year Forward Rate of Return (Yacktman) (%) Range
Min: -5.1  Med: 10.70 Max: 21.6
Current: 5.05
-5.1
21.6

Analyst Estimate

Dec15 Dec16 Dec17
Revenue(Mil) 1,230 1,326 1,422
EPS($) 0.98 1.40 1.65
EPS without NRI($) 0.98 1.40 1.65

Business Description

Industry: Application Software » Software - Application
Compare:CRM, SQI, RHT, INTU, ADBE » details
Traded in other countries:NI1.Germany,
National Instruments Corp was incorporated under the laws of the State of Texas in May 1976 and reincorporated in Delaware in June 1994. It completed its IPO of its common stock in March 1995. Its flagship software product is LabVIEW. In addition to LabVIEW, NI offers LabWindows/CVI and Measurement Studio as alternative programming environments. NI offers software products, including NI TestStand, NI VeriStand, NI DIAdem and NI Multisim, which are integrated to LabVIEW. The Company's hardware and related driver software products include data acquisition "DAQ", PXI chassis and controllers, image acquisition, motion control, distributed I/O, modular instruments and embedded control hardware/software, industrial communications interfaces, General Purpose Interface Bus "GPIB" interfaces, and VME Extension for Instrumentation "VXI" Controllers. It serves the following industries and applications; advanced research, automotive, automated test equipment, consumer electronics, commercial aerospace, computers and electronics, continuous process manufacturing, education, government/defense, medical research/pharmaceutical, power/energy, semiconductors, telecommunications and others. The Company markets its products in higher education environments, and in colleges, universities and trade and technical schools. It sells its software and hardware products through direct sales organization. It's major competitor is Agilent Technologies Inc. "Agilent". As of December 31, 2013, the Company held 765 U.S. patents "762 utility patents and 3 design patents" and 27 patents in foreign countries "25 patents registered in Europe in other countries; and 2 patents in Japan", and had 211 patent applications pending in the U.S. and foreign countries.
» More Articles for NATI

Headlines

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Royce Deals in His Top 20 Holdings in Fourth Quarter Feb 11 2015 
Agilent Has Focused on Several Strategic Actions Mar 20 2014 
The Best Yielding Ex-Dividend Stocks on February 14, 2013 Feb 13 2013 
National Instruments Corp. (NATI) COO, CFO & Executive VP Alexander M Davern sells 3,427 Shares Feb 15 2011 
National Instruments Corp. (NATI) COO, CFO & Executive VP Alexander M Davern sells 9,691 Shares Jan 28 2011 
National Instruments Corp. Reports Operating Results (10-Q) Nov 03 2010 
National Instruments Corp. (NATI) CFO & Senior Vice President Alexander M Davern sells 4,000 Shares Aug 12 2010 
National Instruments Corp. Reports Operating Results (10-Q) Aug 06 2010 
National Instruments Corp. (NATI) CFO & Senior Vice President Alexander M Davern sells 3,804 Shares May 28 2010 
National Instruments Corp. Reports Operating Results (10-Q) May 06 2010 

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