$5.7 B

NATI Mkt cap, 15-Oct-2018

$652.9 M

National Instruments Revenue Q2, 2018
National Instruments Gross profit (Q2, 2018)496.2 M
National Instruments Gross profit margin (Q2, 2018), %76%
National Instruments Net income (Q2, 2018)55.3 M
National Instruments EBIT (Q2, 2018)65 M
National Instruments Cash, 30-Jun-2018217.6 M

National Instruments Revenue

National Instruments revenue was $1.29 b in FY, 2017 which is a 5% year over year increase from the previous period.

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National Instruments Revenue Breakdown

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National Instruments revenue breakdown by business segment: 9.0% from Software Maintenance and 91.0% from Product

National Instruments revenue breakdown by geographic segment: 29.2% from APAC, 31.7% from EMEIA and 39.1% from Americas

National Instruments Income Statement

Annual

USDFY, 2013FY, 2014FY, 2015FY, 2016FY, 2017

Revenue

1.2b1.2b1.2b1.2b1.3b

Revenue growth, %

6%(1%)0%5%

Cost of goods sold

305.2m318.1m317.0m313.1m328.3m

Gross profit

867.3m925.7m908.5m915.1m961.1m

Gross profit Margin, %

74%74%74%75%75%

Sales and marketing expense

461.2m477.9m

R&D expense

235.7m231.8m

General and administrative expense

98.4m105.6m

Operating expense total

795.3m815.3m

EBIT

98.6m145.2m137.2m119.7m145.8m

EBIT margin, %

8%12%11%10%11%

Interest income

679.0k1.1m1.4m1.1m2.3m

Pre tax profit

97.2m144.0m131.3m114.6m147.4m

Income tax expense

16.7m17.7m36.0m31.9m95.0m

Net Income

80.5m126.3m95.3m82.7m52.4m

Quarterly

USDQ1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017Q1, 2018Q2, 2018

Revenue

301.8m299.8m287.2m306.1m306.4m300.1m318.6m320.9m311.9m652.9m

Cost of goods sold

76.7m77.2m76.1m77.5m76.7m76.5m82.5m83.8m74.5m156.7m

Gross profit

225.1m222.6m211.0m228.6m229.6m223.6m236.1m237.2m237.4m496.2m

Gross profit Margin, %

75%74%73%75%75%75%74%74%76%76%

Sales and marketing expense

111.9m114.5m113.2m116.4m116.7m117.3m124.4m116.7m120.1m247.3m

R&D expense

55.4m52.5m59.3m59.8m59.1m58.3m56.9m56.5m61.8m128.8m

General and administrative expense

23.2m23.3m24.6m25.1m24.5m25.7m26.2m26.5m27.3m55.2m

Operating expense total

190.4m190.3m197.2m201.3m200.3m201.3m207.5m199.7m209.2m431.2m

EBIT

34.7m32.4m13.8m27.3m29.4m22.3m28.6m37.5m28.1m65.0m

EBIT margin, %

11%11%5%9%10%7%9%12%9%10%

Interest income

341.0k396.0k253.0k258.0k276.0k343.0k509.0k657.0k1.0m2.3m

Pre tax profit

34.5m33.2m12.3m26.3m29.2m23.2m29.4m38.1m29.6m64.6m

Income tax expense

(774.0k)9.5m10.0m3.0m6.5m4.7m5.0m4.2m4.7m5.3m9.3m

Net Income

18.7m24.5m39.7m15.0m24.9m23.2m9.3m19.8m24.5m18.1m25.2m33.4m24.3m55.3m

National Instruments Balance Sheet

Annual

USDFY, 2013FY, 2014FY, 2015FY, 2016FY, 2017

Cash

230.3m274.0m251.1m285.3m290.2m

Accounts Receivable

180.7m202.3m216.2m228.7m248.8m

Prepaid Expenses

48.6m

Inventories

49.0m70.1m65.4m193.6m184.6m

Current Assets

828.6m947.8m799.7m834.6m894.1m

PP&E

260.6m264.1m257.9m260.5m249.7m

Goodwill

146.5m144.3m257.7m253.2m266.8m

Total Assets

1.3b1.5b1.5b1.5b1.6b

Accounts Payable

56.6m58.6m51.0m48.8m49.7m

Short-term debt

Current Liabilities

225.4m247.7m240.2m260.1m269.3m

Long-term debt

37.0m25.0m

Total Debt

37.0m25.0m

Total Liabilities

382.3m438.4m

Common Stock

1.3m

Additional Paid-in Capital

604.3m662.9m717.7m771.3m830.0m

Retained Earnings

414.9m465.0m400.8m376.2m313.2m

Total Equity

1.0b1.1b1.1b1.1b1.1b

Debt to Equity Ratio

0 x

Debt to Assets Ratio

0 x

Financial Leverage

1.3 x1.3 x1.3 x1.3 x1.4 x

Quarterly

USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017Q1, 2018Q2, 2018

Cash

190.2m240.7m237.5m259.5m239.5m232.8m229.2m265.4m285.3m300.7m279.0m263.2m294.2m250.4mwdxefcqufszuzezftuxetqsqxt217.6m

Accounts Receivable

182.7m181.5m210.8m187.7m191.0m205.6m185.7m207.3m222.2m206.2m224.3m231.0m235.2m242.3m249.9m

Inventories

178.9m170.3m167.3m170.9m178.0m187.4m190.0m192.1m194.6m196.4m194.9m186.2m184.6m193.3m193.4m

Current Assets

798.6m849.0m885.2m906.5m916.2m926.7m879.0m793.5m820.7m810.8m830.5m838.1m855.6m915.8m928.5m

PP&E

263.0m262.5m263.7m261.6m263.3m264.1m260.8m257.0m257.9m261.9m260.2m256.8m254.9m248.8m249.8m

Goodwill

147.3m146.5m146.4m145.0m167.0m167.5m169.8m262.9m260.2m261.4m254.5m261.4m265.1m269.6m263.8m

Total Assets

1.3b1.4b1.4b1.4b1.4b1.5b1.4b1.5b1.5b1.5b1.5b1.5b1.5b1.6b1.6b

Accounts Payable

54.6m62.8m64.0m61.9m57.7m57.3m53.8m54.3m50.7m53.2m55.9m54.2m51.3m52.9m52.8m

Current Liabilities

231.2m233.1m250.5m249.5m235.1m243.8m235.9m255.1m254.2m255.9m263.5m255.2m265.4m276.0m268.2m

Long-term debt

25.0m25.0m40.0m25.0m25.0m25.0m15.0m

Total Debt

25.0m25.0m40.0m25.0m25.0m25.0m15.0m

Total Liabilities

330.4m327.9m347.2m333.6m328.1m336.6m353.7m367.8m382.1m365.5m376.2m367.3m367.3m441.9m428.1m

Additional Paid-in Capital

586.4m621.2m635.6m649.8m680.2m693.1m694.8m731.0m744.8m758.4m785.7m800.8m816.2m846.7m864.3m

Retained Earnings

400.8m414.8m420.2m440.8m455.7m449.0m395.2m380.9m374.2m372.9m361.3m359.1m365.0m316.0m316.6m

Total Equity

991.2m1.0b1.1b1.1b1.1b1.1b1.1b1.1b1.1b1.1b1.1b1.1b1.2b1.1b1.2b

Debt to Equity Ratio

0 x0 x0 x0 x0 x0 x0 x

Debt to Assets Ratio

0 x0 x0 x0 x0 x0 x0 x

Financial Leverage

1.3 x1.3 x1.3 x1.3 x1.3 x1.3 x1.3 x1.3 x1.4 x1.3 x1.3 x1.3 x1.3 x1.4 x1.4 x

National Instruments Cash Flow

Annual

USDFY, 2013FY, 2014FY, 2015FY, 2016FY, 2017

Net Income

80.5m126.3m95.3m82.7m52.4m

Depreciation and Amortization

68.0m70.2m73.3m73.4m72.7m

Accounts Receivable

6.8m(22.0m)(12.0m)(12.4m)(15.3m)

Inventories

(1.6m)(943.0k)(8.4m)(8.4m)10.2m

Accounts Payable

(8.6m)2.0m(9.0m)(2.2m)1.6m

Cash From Operating Activities

169.5m195.1m162.6m195.8m224.4m

Cash From Investing Activities

(57.8m)(107.6m)(78.4m)(70.5m)(122.4m)

Short-term Borrowings

(25.0m)

Dividends Paid

(69.8m)(76.3m)(97.6m)(102.9m)(109.6m)

Cash From Financing Activities

(43.4m)(43.8m)(107.1m)(91.2m)(106.3m)

Net Change in Cash

4.9m

Interest Paid

110.0k144.0k287.0k520.0k478.0k

Income Taxes Paid

10.5m28.0m29.0m2.9m38.0m

Free Cash Flow

121.7m150.2m128.7m151.4m194.2m

Quarterly

USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017Q1, 2018Q2, 2018

Net Income

48.8m18.7m43.2m82.9m15.0m39.9m63.1m9.3m29.1m53.6m18.1m43.3m76.7m24.3m55.3m

Depreciation and Amortization

50.9m17.0m33.4m51.0m17.9m36.5m55.2m19.4m38.2m55.2m18.7m35.9m54.8m17.4m35.1m

Accounts Receivable

4.8m(865.0k)(30.1m)(7.0m)11.8m(2.7m)17.2m8.9m(6.0m)10.1m

Inventories

(8.4m)1.9m4.8m1.2m(2.8m)(12.2m)(14.8m)(6.9m)(9.4m)(11.2m)

Accounts Payable

(10.6m)6.2m7.4m5.3m(1.7m)(2.1m)(5.6m)3.4m(246.0k)2.2m

Cash From Operating Activities

94.7m46.1m68.4m140.7m26.4m50.8m120.5m48.6m83.7m153.1m46.7m84.8m147.5m40.0m98.9m

Cash From Investing Activities

(36.2m)(26.9m)(41.4m)(80.1m)(44.0m)(50.0m)(66.5m)399.0k(10.9m)(31.5m)(36.3m)(73.5m)(77.1m)(60.8m)(124.7m)

Dividends Paid

(52.2m)(18.9m)(38.0m)(57.1m)(24.3m)(48.9m)(73.4m)(25.6m)(51.3m)(77.1m)(27.2m)(54.6m)(82.1m)(30.2m)(60.6m)

Cash From Financing Activities

(30.3m)(8.8m)(19.8m)(31.4m)(16.9m)(42.1m)(98.8m)(34.7m)(38.6m)(72.1m)(19.4m)(39.2m)(69.2m)(21.6m)(44.0m)

Free Cash Flow

53.9m34.2m46.3m110.1m16.1m30.2m92.4m39.4m62.7m118.7m35.9m69.1m123.4m31.9m79.1m

National Instruments Ratios

USDY, 2018

Financial Leverage

1.4 x
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National Instruments Operating Metrics

National Instruments's Customers was reported to be 35 k in FY, 2016. National Instruments's Users was reported to be 300 k in Q1, 2017.
FY, 2014FY, 2015FY, 2016Q1, 2017

Countries

50 50 50 50

Customers

35 k35 k35 k

Partners

1 k

Patent Applications

179 170 137

Patents (US)

822 852 858

Patents (foreign)

25 32 45

Service Centers

30

Users

300 k
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