National Instruments (National Instruments) Intrinsic Value: Projected FCF : $16.06 (As of Apr. 26, 2024)

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What is National Instruments Intrinsic Value: Projected FCF?

Since the intrinsic value calculations based on Discounted Cash Flow Intrinsic Value: DCF (FCF Based), or Discounted Earnings Intrinsic Value: DCF (Earnings Based) cannot be applied to companies without consistent revenue and earnings, GuruFocus developed a valuation model based on normalized Free Cash Flow and Book Value of the company. The details of how we calculate the intrinsic value of stocks are described in detail here.

As of today (2024-04-26), National Instruments's Intrinsic Value: Projected FCF is $16.06. The stock price of National Instruments is $59.98. Therefore, National Instruments's Price-to-Intrinsic-Value-Projected-FCF of today is 3.7.

The historical rank and industry rank for National Instruments's Intrinsic Value: Projected FCF or its related term are showing as below:

NATI' s Price-to-Projected-FCF Range Over the Past 10 Years
Min: 1.78 Med: 2.33 Max: 3.73
Current: 3.73

During the past 13 years, the highest Price-to-Intrinsic-Value-Projected-FCF of National Instruments was 3.73. The lowest was 1.78. And the median was 2.33.

NATI's Price-to-Projected-FCF is not ranked
in the Software industry.
Industry Median: 1.595 vs NATI: 3.73

National Instruments Intrinsic Value: Projected FCF Historical Data

The historical data trend for National Instruments's Intrinsic Value: Projected FCF 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.

National Instruments Intrinsic Value: Projected FCF Chart

National Instruments Annual Data

Trend

Dec13

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Intrinsic Value: Projected FCF

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16.74

17.83

17.87

17.73

16.00

National Instruments Quarterly Data
	Sep18	Dec18	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23
Intrinsic Value: Projected FCF	Get a 7-Day Free Trial															15.89	15.67	16.00	16.91	16.06

Competitive Comparison of National Instruments's Intrinsic Value: Projected FCF

For the Software - Application subindustry, National Instruments's Price-to-Projected-FCF, along with its competitors' market caps and Price-to-Projected-FCF 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.

National Instruments's Price-to-Projected-FCF Distribution in the Software Industry

For the Software industry and Technology sector, National Instruments's Price-to-Projected-FCF distribution charts can be found below:

* The bar in red indicates where National Instruments's Price-to-Projected-FCF falls into.

National Instruments Intrinsic Value: Projected FCF Calculation

Since the intrinsic value calculations based on Discounted Cash Flow Intrinsic Value: DCF (FCF Based), or Discounted Earnings Intrinsic Value: DCF (Earnings Based) cannot be applied to companies without consistent revenue and earnings, GuruFocus developed a valuation model based on normalized Free Cash Flow and Book Value of the company.

The details of how we calculate the intrinsic value of stocks are described in detail here.

This method smooths out the free cash flow over the past 6-7 years, multiplies the results by a growth multiple, and adds a portion of Total Stockholders Equity.

Intrinsic Value: Projected FCF = ( Growth Multiple * Free Cash Flow (6 year avg) + 0.8 * Total Stockholders Equity (most recent) ) / Shares Outstanding (Diluted Average)

In the case of negative Total Stockholders Equity, the following formula is used (see Explanation section below for the reason):

Intrinsic Value: Projected FCF = ( Growth Multiple * Free Cash Flow (6 year avg) + Total Stockholders Equity (most recent) / 0.8 ) / Shares Outstanding (Diluted Average)

Add all the Free Cash Flow together and divide 6 will get National Instruments's Free Cash Flow(6 year avg) = $119.91.

National Instruments's Intrinsic Value: Projected FCF for today is calculated as

Intrinsic Value: Projected FCF	=	(Growth Multiple	*	Free Cash Flow (6 year avg)	+	Total Stockholders Equity (Jun23)	*	0.8)	/	Shares Outstanding (Diluted Average)
	=	(9.8522006035458	*	119.90832	+	1217.52	*	0.8)	/	134.171
	=	16.06

National Instruments (NAS:NATI) Intrinsic Value: Projected FCF Explanation

The growth multiple is capped between 8.35 and 17.74.

Total Stockholders Equity weighting is more art than science and it should always be revisited in more detail when researching a company. Weightings from 0% to 100% to more than 100% are possible. 80% was chosen as a happy median after taking the above ideas into consideration.

National Instruments's Price-to-Intrinsic-Value-Projected-FCF for today is calculated as

Price-to-Intrinsic-Value-Projected-FCF	=	Share Price	/	Intrinsic Value: Projected FCF
	=	59.98	/	16.06440156721
	=	3.73

National Instruments Intrinsic Value: Projected FCF Related Terms

Thank you for viewing the detailed overview of National Instruments's Intrinsic Value: Projected FCF provided by GuruFocus.com. Please click on the following links to see related term pages.

National Instruments (National Instruments) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Technology » Software » National Instruments Corp (NAS:NATI) » Definitions » Intrinsic Value: Projected FCF

Comparable Companies

Traded in Other Exchanges

N/A

Address

11500 North MoPac Expressway, Austin, TX, USA, 78759

Website

https://www.ni.com

National Instruments provides testing and measurement equipment and integrated, software-led solutions to serve high-complexity automated testing in late product development. NI serves a long tail of more than 30,000 customers in myriad end markets but focuses on the semiconductor, transportation, and aerospace and defense verticals.

Executives

Ritu Favre	officer: Executive Vice President	12367 CROSTHWAITE CIRCLE, POWAY CA 92064
Scott Arthur Rust	officer: Executive Vice President	C/O NATIONAL INSTRUMENTS CORPORATION, 11500 NORTH MOPAC, AUSTIN TX 78759
Alexander M Davern	officer: Senior Vice President and CFO	C/O NATIONAL INSTRUMENTS, 11500 MOPAC BLDG C, AUSTIN TX 78759
Thomas Benjamin	officer: Executive Vice President	C/O NATIONAL INSTRUMENTS CORPORATION, 11500 NORTH MOPAC EXPRESSWAY, AUSTIN TX 78759
Eric Howard Starkloff	director, officer: President & CEO	11500 NORTH MOPAC, BUILDING C, AUSTIN TX 78759
Daniel Berenbaum	officer: Chief Financial Officer, EVP	C/O EVERSPIN TECHNOLOGIES, INC., 5670 W. CHANDLER BLVD., SUITE 100, CHANDLER AZ 85226
Cashman James E Iii	director	2600 ANSYS DRIVE, CANONSBURG PA 15317
Gerhard Paul Fettweis	director	C/O NATIONAL INSTRUMENTS CORPORATION, 11500 NORTH MOPAC, AUSTIN TX 78759
Michael E Mcgrath	director	11701 LUNA ROAD, DALLAS TX 75234
Liam Griffin	director	5260 CALIFORNIA AVENUE, IRVINE CA 92617
Gayla J Delly	director	3000 TECHNOLOGY DR, ANGLETON TX 77515
Jason Elliot Green	officer: Chief Revenue Officer & EVP	C/O NATIONAL INSTRUMENTS CORPORATION, 11500 NORTH MOPAC, AUSTIN TX 78759
Karen Marie Rapp	officer: Chief Financial Officer & EVP	C/O NATIONAL INSTRUMENTS CORPORATION, 11500 NORTH MOPAC, AUSTIN TX 78759
Carla Pineyro Sublett	officer: Chief Marketing Officer	C/O NATIONAL INSTRUMENTS CORPORATION, 11500 NORTH MOPAC, AUSTIN TX 78759
Jeffrey L Kodosky	director	C/O NATIONAL INSTRUMENTS CORP, 11500 N. MOPAC EXPRESSWAY, AUSTIN TX 78759