59.98 USD
0 (0%)
59.98 USD
0 (0%)
Taking everything into account, NATI scores 6 out of 10 in our fundamental rating. NATI was compared to 124 industry peers in the Electronic Equipment, Instruments & Components industry. While NATI belongs to the best of the industry regarding profitability, there are some minor concerns on its financial health. NATI is showing excellent growth while it is valued at reasonable prices. Keep and eye on this one! This makes NATI very considerable for growth investing!
1. Profitability
1.1 Basic Checks
In the past year NATI was profitable.
In the past year NATI had a positive cash flow from operations.
In the past 5 years NATI has always been profitable.
In the past 5 years NATI always reported a positive cash flow from operatings.
1.2 Ratios
NATI's Return On Assets of 7.59% is amongst the best of the industry. NATI outperforms 80.95% of its industry peers.
Looking at the Return On Equity, with a value of 14.73%, NATI is in the better half of the industry, outperforming 79.37% of the companies in the same industry.
NATI's Return On Invested Capital of 11.62% is fine compared to the rest of the industry. NATI outperforms 78.57% of its industry peers.
Measured over the past 3 years, the Average Return On Invested Capital for NATI is in line with the industry average of 9.32%.
The last Return On Invested Capital (11.62%) for NATI is above the 3 year average (7.47%), which is a sign of increasing profitability.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 7.59% | ||
| ROE | 14.73% | ||
| ROIC | 11.62% |
ROA(3y)5.92%
ROA(5y)7.37%
ROE(3y)10.37%
ROE(5y)11.48%
ROIC(3y)7.47%
ROIC(5y)9.07%
1.3 Margins
With an excellent Profit Margin value of 10.37%, NATI belongs to the best of the industry, outperforming 85.71% of the companies in the same industry.
In the last couple of years the Profit Margin of NATI has grown nicely.
NATI's Operating Margin of 15.54% is amongst the best of the industry. NATI outperforms 88.89% of its industry peers.
NATI's Operating Margin has declined in the last couple of years.
NATI's Gross Margin of 68.83% is amongst the best of the industry. NATI outperforms 98.41% of its industry peers.
In the last couple of years the Gross Margin of NATI has declined.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 15.54% | ||
| PM (TTM) | 10.37% | ||
| GM | 68.83% |
OM growth 3Y-5.86%
OM growth 5Y-3.61%
PM growth 3Y-11.08%
PM growth 5Y15.71%
GM growth 3Y-3.39%
GM growth 5Y-1.9%
2. Health
2.1 Basic Checks
With a Return on Invested Capital (ROIC) just above the Cost of Capital (WACC), NATI is creating some value.
The number of shares outstanding for NATI has been reduced compared to 1 year ago.
NATI has a worse debt/assets ratio than last year.
2.2 Solvency
An Altman-Z score of 5.59 indicates that NATI is not in any danger for bankruptcy at the moment.
The Altman-Z score of NATI (5.59) is better than 80.95% of its industry peers.
The Debt to FCF ratio of NATI is 6.04, which is on the high side as it means it would take NATI, 6.04 years of fcf income to pay off all of its debts.
The Debt to FCF ratio of NATI (6.04) is better than 64.29% of its industry peers.
A Debt/Equity ratio of 0.46 indicates that NATI is not too dependend on debt financing.
The Debt to Equity ratio of NATI (0.46) is worse than 71.43% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.46 | ||
| Debt/FCF | 6.04 | ||
| Altman-Z | 5.59 |
ROIC/WACC1.14
WACC10.19%
2.3 Liquidity
NATI has a Current Ratio of 2.49. This indicates that NATI is financially healthy and has no problem in meeting its short term obligations.
NATI has a Current ratio (2.49) which is in line with its industry peers.
NATI has a Quick Ratio of 1.54. This is a normal value and indicates that NATI is financially healthy and should not expect problems in meeting its short term obligations.
With a Quick ratio value of 1.54, NATI perfoms like the industry average, outperforming 41.27% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 2.49 | ||
| Quick Ratio | 1.54 |
3. Growth
3.1 Past
NATI shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 118.10%, which is quite impressive.
The Earnings Per Share has been growing by 12.47% on average over the past years. This is quite good.
Looking at the last year, NATI shows a quite strong growth in Revenue. The Revenue has grown by 10.28% in the last year.
Measured over the past years, NATI shows a small growth in Revenue. The Revenue has been growing by 5.14% on average per year.
EPS 1Y (TTM)118.1%
EPS 3Y11.61%
EPS 5Y12.47%
EPS Q2Q%41.67%
Revenue 1Y (TTM)10.28%
Revenue growth 3Y6.98%
Revenue growth 5Y5.14%
Sales Q2Q%5.38%
3.2 Future
NATI is expected to show quite a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 17.72% yearly.
NATI is expected to show quite a strong growth in Revenue. In the coming years, the Revenue will grow by 8.13% yearly.
EPS Next Y41.27%
EPS Next 2Y29.81%
EPS Next 3Y23.66%
EPS Next 5Y17.72%
Revenue Next Year4.18%
Revenue Next 2Y5.95%
Revenue Next 3Y6.85%
Revenue Next 5Y8.13%
3.3 Evolution
The EPS growth rate is accelerating: in the next years the growth will be better than in the last years.
When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
4. Valuation
4.1 Price/Earnings Ratio
Based on the Price/Earnings ratio of 26.19, the valuation of NATI can be described as expensive.
NATI's Price/Earnings ratio is in line with the industry average.
NATI is valuated at similar levels of the S&P average when we compare the Price/Earnings ratio to 26.59, which is the current average of the S&P500 Index.
With a Price/Forward Earnings ratio of 20.82, NATI is valued on the expensive side.
The rest of the industry has a similar Price/Forward Earnings ratio as NATI.
Compared to an average S&P500 Price/Forward Earnings ratio of 24.03, NATI is valued at the same level.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 26.19 | ||
| Fwd PE | 20.82 |
4.2 Price Multiples
The rest of the industry has a similar Enterprise Value to EBITDA ratio as NATI.
Compared to the rest of the industry, the Price/Free Cash Flow ratio of NATI is on the same level as its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 81.64 | ||
| EV/EBITDA | 23.42 |
4.3 Compensation for Growth
The low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
NATI has an outstanding profitability rating, which may justify a higher PE ratio.
NATI's earnings are expected to grow with 23.66% in the coming years. This may justify a more expensive valuation.
PEG (NY)0.63
PEG (5Y)2.1
EPS Next 2Y29.81%
EPS Next 3Y23.66%
5. Dividend
5.1 Amount
With a Yearly Dividend Yield of 1.87%, NATI has a reasonable but not impressive dividend return.
Compared to an average industry Dividend Yield of 0.47, NATI pays a better dividend. On top of this NATI pays more dividend than 92.06% of the companies listed in the same industry.
NATI's Dividend Yield is comparable with the S&P500 average which is at 1.88.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 1.87% |
5.2 History
The dividend of NATI has a limited annual growth rate of 5.92%.
NATI has been paying a dividend for at least 10 years, so it has a reliable track record.
NATI has not decreased their dividend for at least 10 years, which is a reliable track record.
Dividend Growth(5Y)5.92%
Div Incr Years9
Div Non Decr Years11
5.3 Sustainability
82.37% of the earnings are spent on dividend by NATI. This is not a sustainable payout ratio.
The dividend of NATI is growing, but earnings are growing more, so the dividend growth is sustainable.
DP82.37%
EPS Next 2Y29.81%
EPS Next 3Y23.66%
59.98
0 (0%)
Chartmill FA Rating
GICS SectorInformation Technology
GICS IndustryGroupTechnology Hardware & Equipment
GICS IndustryElectronic Equipment, Instruments & Components
Earnings (Last)
Earnings (Next)
Inst Owners0.21%
Inst Owner Change0%
Ins Owners4.99%
Ins Owner Change0%
Market Cap7.97B
Revenue(TTM)1.73B
Net Income(TTM)179.40M
Analysts50
Price Target61.2 (2.03%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 1.87% |
Yearly Dividend1.12
Dividend Growth(5Y)5.92%
DP82.37%
Div Incr Years9
Div Non Decr Years11
Ex-DateN/A
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)-0.87%
Min EPS beat(2)-13.79%
Max EPS beat(2)12.04%
EPS beat(4)1
Avg EPS beat(4)-1.65%
Min EPS beat(4)-13.79%
Max EPS beat(4)12.04%
EPS beat(8)N/A
Avg EPS beat(8)N/A
EPS beat(12)N/A
Avg EPS beat(12)N/A
EPS beat(16)N/A
Avg EPS beat(16)N/A
Revenue beat(2)0
Avg Revenue beat(2)-2.97%
Min Revenue beat(2)-5.67%
Max Revenue beat(2)-0.28%
Revenue beat(4)0
Avg Revenue beat(4)-2.65%
Min Revenue beat(4)-5.67%
Max Revenue beat(4)-0.28%
Revenue beat(8)N/A
Avg Revenue beat(8)N/A
Revenue beat(12)N/A
Avg Revenue beat(12)N/A
Revenue beat(16)N/A
Avg Revenue beat(16)N/A
PT rev (1m)0%
PT rev (3m)0%
EPS NQ rev (1m)0%
EPS NQ rev (3m)-11.18%
EPS NY rev (1m)0%
EPS NY rev (3m)-5.08%
Revenue NQ rev (1m)99900.9%
Revenue NQ rev (3m)-5.4%
Revenue NY rev (1m)0%
Revenue NY rev (3m)-3.34%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 26.19 | ||
| Fwd PE | 20.82 | ||
| P/S | 4.6 | ||
| P/FCF | 81.64 | ||
| P/OCF | 48.95 | ||
| P/B | 6.54 | ||
| P/tB | 20.63 | ||
| EV/EBITDA | 23.42 |
EPS(TTM)2.29
EY3.82%
EPS(NY)2.88
Fwd EY4.8%
FCF(TTM)0.73
FCFY1.22%
OCF(TTM)1.23
OCFY2.04%
SpS13.03
BVpS9.17
TBVpS2.91
PEG (NY)0.63
PEG (5Y)2.1
Graham NumberN/A
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 7.59% | ||
| ROE | 14.73% | ||
| ROCE | 13.87% | ||
| ROIC | 11.62% | ||
| ROICexc | 12.51% | ||
| ROICexgc | 23.26% | ||
| OM | 15.54% | ||
| PM (TTM) | 10.37% | ||
| GM | 68.83% | ||
| FCFM | 5.64% |
ROA(3y)5.92%
ROA(5y)7.37%
ROE(3y)10.37%
ROE(5y)11.48%
ROIC(3y)7.47%
ROIC(5y)9.07%
ROICexc(3y)8.65%
ROICexc(5y)12.27%
ROICexgc(3y)18.12%
ROICexgc(5y)22.9%
ROCE(3y)8.92%
ROCE(5y)10.83%
ROICexgc growth 3Y-12.99%
ROICexgc growth 5Y-9.66%
ROICexc growth 3Y-18.06%
ROICexc growth 5Y-11.01%
OM growth 3Y-5.86%
OM growth 5Y-3.61%
PM growth 3Y-11.08%
PM growth 5Y15.71%
GM growth 3Y-3.39%
GM growth 5Y-1.9%
F-Score5
Asset Turnover0.73
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.46 | ||
| Debt/FCF | 6.04 | ||
| Debt/EBITDA | 1.57 | ||
| Cap/Depr | 72.02% | ||
| Cap/Sales | 3.77% | ||
| Interest Coverage | 250 | ||
| Cash Conversion | 45.28% | ||
| Profit Quality | 54.38% | ||
| Current Ratio | 2.49 | ||
| Quick Ratio | 1.54 | ||
| Altman-Z | 5.59 |
F-Score5
WACC10.19%
ROIC/WACC1.14
Cap/Depr(3y)55.4%
Cap/Depr(5y)67.95%
Cap/Sales(3y)3.5%
Cap/Sales(5y)3.95%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)118.1%
EPS 3Y11.61%
EPS 5Y12.47%
EPS Q2Q%41.67%
EPS Next Y41.27%
EPS Next 2Y29.81%
EPS Next 3Y23.66%
EPS Next 5Y17.72%
Revenue 1Y (TTM)10.28%
Revenue growth 3Y6.98%
Revenue growth 5Y5.14%
Sales Q2Q%5.38%
Revenue Next Year4.18%
Revenue Next 2Y5.95%
Revenue Next 3Y6.85%
Revenue Next 5Y8.13%
EBIT growth 1Y76.65%
EBIT growth 3Y0.72%
EBIT growth 5Y1.35%
EBIT Next Year57.07%
EBIT Next 3Y24.81%
EBIT Next 5Y13.12%
FCF growth 1Y13.48%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y23.64%
OCF growth 3Y-42.36%
OCF growth 5Y-28.15%
NATIONAL INSTRUMENTS CORP / NATI FAQ
Can you provide the ChartMill fundamental rating for NATIONAL INSTRUMENTS CORP?
ChartMill assigns a fundamental rating of 6 / 10 to NATI.
What is the valuation status for NATI stock?
ChartMill assigns a valuation rating of 4 / 10 to NATIONAL INSTRUMENTS CORP (NATI). This can be considered as Fairly Valued.
Can you provide the profitability details for NATIONAL INSTRUMENTS CORP?
NATIONAL INSTRUMENTS CORP (NATI) has a profitability rating of 7 / 10.
What are the PE and PB ratios of NATIONAL INSTRUMENTS CORP (NATI) stock?
The Price/Earnings (PE) ratio for NATIONAL INSTRUMENTS CORP (NATI) is 26.19 and the Price/Book (PB) ratio is 6.54.
What is the earnings growth outlook for NATIONAL INSTRUMENTS CORP?
The Earnings per Share (EPS) of NATIONAL INSTRUMENTS CORP (NATI) is expected to grow by 41.27% in the next year.