Acquired by Emerson in Oct 2023
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NATI - National Instruments Corporation

NASDAQ -> Technology -> Software—Application
Austin, United States
Type: Equity

NATI price evolution
NATI
(in millions $) 30 Jun 2023 31 Mar 2023 31 Jan 2023 30 Sep 2022
Current assets
Cash $139.24 $137.67 $139.8 $149
Short term investments
Net receivables $389.93 $415.74 $445.28 $380.79
Inventory $401.63 $401.06 $388.16 $373.54
Total current assets $1054.74 $1072.18 $1088.92 $1047.48
Long term investments
Property, plant & equipment $351.97 $344.86 $324.56 $314.03
Goodwill & intangible assets $831.36 $839.09 $816.58 $812.88
Total noncurrent assets $1308.25 $1311.68 $1269.62 $1198.05
Total investments
Total assets $2362.99 $2383.86 $2358.54 $2245.53
Current liabilities
Accounts payable $60.51 $50.35 $54.64 $96.85
Deferred revenue $218.34 $213.04 $200.27 $168.43
Short long term debt $41.61 $40.51 $38.83 $38.29
Total current liabilities $424.4 $520.01 $522.88 $427.64
Long term debt $600.86 $527.1 $516.64 $574.79
Total noncurrent liabilities $721.08 $669.53 $679.54 $694.41
Total debt $642.47 $567.6 $586.06 $613.08
Total liabilities $1145.47 $1189.55 $1202.41 $1122.05
Shareholders' equity
Retained earnings -$11.29 -$4.63 -$14.74 -$18.14
Other shareholder equity -$24.48 -$34.27 -$37.87 -$43.02
Total shareholder equity $1217.52 $1194.31 $1156.12 $1123.48
(in millions $) 31 Jan 2023 31 Dec 2021 31 Dec 2020 31 Dec 2019
Current assets
Cash $139.8 $211.11 $260.23 $194.62
Short term investments $59.92 $237.98
Net receivables $445.28 $341.27 $266.87 $248.87
Inventory $388.16 $289.24 $194.01 $200.41
Total current assets $1088.92 $931.55 $849.51 $947.36
Long term investments
Property, plant & equipment $324.56 $312.31 $322.07 $314.12
Goodwill & intangible assets $816.58 $796.41 $640.27 $346.32
Total noncurrent assets $1269.62 $1183.44 $1034.98 $704.53
Total investments $59.92 $237.98
Total assets $2358.54 $2114.99 $1884.49 $1651.89
Current liabilities
Accounts payable $54.64 $83.22 $51.12 $52.19
Deferred revenue $200.27 $170.64 $168.49 $164.93
Short long term debt $38.83 $13.14 $20.8 $13.43
Total current liabilities $522.88 $445.21 $381.85 $306.12
Long term debt $516.64 $330.47 $127.89 $40.65
Total noncurrent liabilities $679.54 $446.07 $277.77 $169.42
Total debt $586.06 $343.61 $148.69 $54.08
Total liabilities $1202.41 $891.29 $659.62 $475.54
Shareholders' equity
Retained earnings -$14.74 $112.86 $211.1 $242.54
Other shareholder equity -$37.87 -$20.13 -$20.83 -$21.07
Total shareholder equity $1156.12 $1223.7 $1224.87 $1176.35
(in millions $) 30 Jun 2023 31 Mar 2023 31 Dec 2022 30 Sep 2022
Revenue
Total revenue $416.8 $436.82 $448.28 $427.93
Cost of revenue $118.49 $132.71 $144.32 $143.7
Gross Profit $298.32 $304.12 $303.95 $284.23
Operating activities
Research & development $83.8 $86.64 $81.1 $82.86
Selling, general & administrative $173.6 $160.56 $162.52 $154.57
Total operating expenses $265.91 $247.19 $255.19 $208.94
Operating income $32.41 $56.92 $48.76 $75.28
Income from continuing operations
EBIT $32.41 $53.91 $48.76 $75.28
Income tax expense $1.92 $6.98 $8.69 $13.38
Interest expense
Net income
Net income $30.49 $46.93 $40.07 $61.91
Income (for common shares) $30.49 $46.93 $40.07 $61.91
(in millions $) 31 Dec 2022 31 Jan 2022 31 Dec 2020 31 Dec 2019
Revenue
Total revenue $1656.97 $1286.67 $1353.21
Cost of revenue $534.72 $371.12 $336.89
Gross Profit $1122.25 $915.55 $1016.32
Operating activities
Research & development $331.71 $280.38 $272.45
Selling, general & administrative $632.11 $595.37 $596.16
Total operating expenses $950.38 $716 $841.77
Operating income $171.88 $199.55 $174.55
Income from continuing operations
EBIT $171.88 $198.76 $180.54
Income tax expense $32.23 $55.1 $18.39
Interest expense
Net income
Net income $139.64 $143.66 $162.15
Income (for common shares) $139.64 $143.66 $162.15
(in millions $) 30 Jun 2023 31 Mar 2023 31 Dec 2022 30 Sep 2022
Net income $30.49 $46.93 $40.07 $61.91
Operating activities
Depreciation $23.3 $22.24 $21.88 $23.09
Business acquisitions & disposals -$0.32 -$22.7 $41.47
Stock-based compensation $14.83 $15.56 $17.77 $20.04
Total cash flows from operations -$23.83 $98.71 $51.89 $35.97
Investing activities
Capital expenditures -$14.06 -$22.34 -$9 -$14.88
Investments
Total cash flows from investing -$15.07 -$48.17 -$8.91 $25.41
Financing activities
Dividends paid -$37.16 -$36.81 -$36.67 -$37.13
Sale and purchase of stock $8.42 $8.96 $6.37 -$74.25
Net borrowings $73.75 -$26.25 -$26.25 $92.65
Total cash flows from financing $41.94 -$54.11 -$56.55 -$18.72
Effect of exchange rate -$1.46 $1.45 $4.37 -$4.54
Change in cash and equivalents $1.57 -$2.13 -$9.2 $38.13
(in millions $) 31 Dec 2022 31 Dec 2021 31 Dec 2020 31 Dec 2019
Net income $139.64 $89.31 $143.66 $162.15
Operating activities
Depreciation $90.71 $99.4 $87.06 $73.54
Business acquisitions & disposals -$31.33 -$223.08 -$174.72
Stock-based compensation $78.61 $74.58 $58.38 $51.44
Total cash flows from operations $42.96 $143.5 $180.77 $224.41
Investing activities
Capital expenditures -$48.58 -$42.44 -$53.71 -$69.92
Investments $44.54 $168.56 $20.69
Total cash flows from investing -$83.47 -$223.72 -$61.3 -$17.95
Financing activities
Dividends paid -$147.84 -$143.11 -$136.54 -$131.85
Sale and purchase of stock -$120.02 -$22.48 -$16.77 -$138.13
Net borrowings $241.4 $199.26 $96.86
Total cash flows from financing -$26.45 $33.66 -$56.45 -$270.82
Effect of exchange rate -$4.35 -$2.56 $2.6 -$0.41
Change in cash and equivalents -$71.31 -$49.13 $65.62 -$64.77
Fundamentals
Market cap $7.96B
Enterprise value $8.47B
Shares outstanding 132.77M
Revenue $1.73B
EBITDA $300.87M
EBIT $210.36M
Net Income $179.40M
Revenue Q/Q 5.38%
Revenue Y/Y N/A
P/E ratio 44.39
EV/Sales 4.89
EV/EBITDA 28.14
EV/EBIT 40.25
P/S ratio 4.60
P/B ratio 6.41
Book/Share 9.35
Cash/Share 1.05
EPS $1.35
ROA 7.67%
ROE 15.30%
Debt/Equity 1.04
Net debt/EBITDA 3.34
Current ratio 2.49
Quick ratio 1.54