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National Instruments Corporation (NATI)
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National Instruments Corporation Income Statement 2022-2007 | NATI
Brief overview of financial results at National Instruments Corporation
The overview follows changes across a five-year period. National Instruments Corporation reported revenue of 1.3 billion dollars in 2017 and 1.7 billion dollars by 2022. Across the full period, sales moved by +28.5%; the average annual rate was 5.1%. The direction is positive, but the growth rate is not particularly high.
Gross profit changed from 961 million dollars to 1.1 billion dollars (+16.8%). The relationship between sales and direct costs deteriorated. At the margin level, the figure shifted from 74.5% to 67.7%. Weakening gross profitability reduces the quality of the top-line trend.
EBITDA was 218 million dollars at the beginning and 283 million dollars at the end of the period (+29.4%). EBITDA moved broadly in line with revenue. EBITDA margin was 16.9% at the start and 17.1% at the end. Operating profitability remained broadly stable.
Over the period, net income shifted from $52.4 million to $140 million (+166.4%). Net income grew faster than revenue, indicating improved overall efficiency.
The market value of the business moved from $6.1 billion to $6.9 billion, or +13.5%. Market value lagged the financial performance.
What the figures show
The figures do not all move in the same direction. The strongest signals are improving net profitability, sales growth and a steady EBITDA margin. The weaker side of the profile includes weaker gross profitability. Future reports should be judged by revenue momentum, margins, and the conversion of sales into net income.
Annual Income Statement National Instruments Corporation
| 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Market Cap |
6.88 B | 5.31 B | 5.74 B | 5.09 B | 5.79 B | 6.06 B | 3.72 B | 3.22 B | 3.36 B | 3.01 B | 2.99 B | 2.54 B | - | - | - | - |
Shares |
132 M | 132 M | 131 M | 132 M | 132 M | 130 M | 128 M | 128 M | 127 M | 125 M | 122 M | 120 M | 117 M | 116 M | 78.6 M | - |
Historical Prices |
52.2 | 40.1 | 43.8 | 38.7 | 43.8 | 46.5 | 29 | 25.2 | 26.5 | 24.2 | 24.5 | 21.2 | - | - | - | - |
Net Income |
140 M | 89.3 M | 144 M | 162 M | 155 M | 52.4 M | 82.7 M | 95.3 M | 126 M | 80.5 M | 90.1 M | 94.1 M | 109 M | 17.1 M | 84.8 M | - |
Revenue |
1.66 B | 1.47 B | 1.29 B | 1.35 B | 1.36 B | 1.29 B | 1.23 B | 1.23 B | 1.24 B | 1.17 B | 1.14 B | 1.02 B | - | - | - | - |
Cost of Revenue |
535 M | 421 M | 371 M | 337 M | 334 M | 328 M | 313 M | 317 M | 318 M | 305 M | 280 M | 241 M | 200 M | 170 M | 207 M | - |
Gross Profit |
1.12 B | 1.05 B | 916 M | 1.02 B | 1.03 B | 961 M | 915 M | 908 M | 926 M | 867 M | 863 M | 783 M | 673 M | 507 M | 613 M | - |
Operating Income |
192 M | 118 M | 200 M | 175 M | 173 M | 146 M | 120 M | 137 M | 145 M | 98.6 M | 117 M | 113 M | 128 M | 46.5 M | 95.7 M | - |
Interest Expense |
16.6 M | 3.78 M | 1.88 M | 40 K | 151 K | -1.57 M | -1.58 M | 245 K | - | 450 K | -567 K | -142 K | 993 K | 1.35 M | 161 K | - |
EBITDA |
283 M | 218 M | 287 M | 248 M | 244 M | 218 M | 193 M | 211 M | 215 M | 167 M | 176 M | 163 M | 166 M | 84.9 M | 133 M | - |
Operating Expenses |
964 M | 931 M | 876 M | 869 M | 853 M | 815 M | 795 M | 771 M | 781 M | 769 M | 746 M | 670 M | 545 M | 460 M | 518 M | - |
General and Administrative Expenses |
149 M | 127 M | 130 M | 123 M | 109 M | 106 M | 98.4 M | 93.9 M | 91.3 M | 87.4 M | 85.2 M | 82.7 M | 67.1 M | 57.9 M | 67.2 M | - |
All numbers in USD currency
Quarterly Income Statement National Instruments Corporation
| 2023-Q2 | 2023-Q1 | 2022-Q4 | 2022-Q3 | 2022-Q2 | 2022-Q1 | 2021-Q4 | 2021-Q3 | 2021-Q2 | 2021-Q1 | 2020-Q4 | 2020-Q3 | 2020-Q2 | 2020-Q1 | 2019-Q4 | 2019-Q3 | 2019-Q2 | 2019-Q1 | 2018-Q4 | 2018-Q3 | 2018-Q2 | 2018-Q1 | 2017-Q4 | 2017-Q3 | 2017-Q2 | 2017-Q1 | 2016-Q4 | 2016-Q3 | 2016-Q2 | 2016-Q1 | 2015-Q4 | 2015-Q3 | 2015-Q2 | 2015-Q1 | 2014-Q4 | 2014-Q3 | 2014-Q2 | 2014-Q1 | 2013-Q4 | 2013-Q3 | 2013-Q2 | 2013-Q1 | 2012-Q4 | 2012-Q3 | 2012-Q2 | 2012-Q1 | 2011-Q4 | 2011-Q3 | 2011-Q2 | 2011-Q1 | 2010-Q3 | 2010-Q2 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Shares |
132 M | 131 M | 131 M | 132 M | 132 M | 132 M | 132 M | 133 M | 132 M | 131 M | 131 M | 131 M | 131 M | 131 M | 131 M | 131 M | 132 M | 132 M | 133 M | 132 M | 132 M | 131 M | 131 M | 131 M | 130 M | 129 M | 129 M | 129 M | 128 M | 128 M | 127 M | 128 M | 129 M | 128 M | 128 M | 127 M | 127 M | 126 M | 126 M | 125 M | 124 M | 123 M | 123 M | 122 M | 122 M | 121 M | 121 M | 120 M | 120 M | 119 M | 78.2 M | 77.9 M |
Net Income |
30.5 M | 46.9 M | - | 61.9 M | 12.4 M | 25.2 M | - | 27.2 M | 17.3 M | 4.5 M | - | -4.62 M | 10.9 M | 133 M | - | 51.6 M | 28.7 M | 23.2 M | - | 43.2 M | 31.1 M | 24.3 M | - | 33.4 M | 25.2 M | 18.1 M | - | 24.5 M | 19.8 M | 9.3 M | - | 23.2 M | 24.9 M | 15 M | - | 39.7 M | 24.5 M | 18.7 M | - | 15.8 M | 14.4 M | 18.6 M | - | 24.3 M | 26.4 M | 18.6 M | - | 12.7 M | 26.5 M | 30.5 M | 28.1 M | 24.6 M |
Revenue |
417 M | 437 M | - | 428 M | 396 M | 385 M | - | 367 M | 347 M | 335 M | - | 308 M | 301 M | 309 M | - | 340 M | 334 M | 311 M | - | 346 M | 341 M | 312 M | - | 321 M | 319 M | 300 M | - | 306 M | 306 M | 287 M | - | 300 M | 302 M | 290 M | - | 314 M | 200 M | 178 M | - | 289 M | 296 M | 286 M | - | 290 M | 292 M | 261 M | - | 255 M | 253 M | 238 M | - | - |
Cost of Revenue |
118 M | 133 M | - | 144 M | 127 M | 119 M | - | 103 M | 99.2 M | 95.4 M | - | 92.3 M | 85.9 M | 83.8 M | - | 85.9 M | 83.8 M | 76.1 M | - | 89 M | 82.2 M | 74.5 M | - | 83.8 M | 82.5 M | 76.5 M | - | 76.7 M | 77.5 M | 76.1 M | - | 77.2 M | 76.7 M | 76.3 M | - | 80.9 M | 81.8 M | 71.2 M | - | 75.2 M | 83.8 M | 70.2 M | - | 73.5 M | 70.9 M | 61.3 M | - | 65.2 M | 55.9 M | 52.5 M | 51.9 M | 48.6 M |
Gross Profit |
298 M | 304 M | - | 284 M | 268 M | 266 M | - | 264 M | 247 M | 240 M | - | 216 M | 215 M | 226 M | - | 255 M | 250 M | 235 M | - | 257 M | 259 M | 237 M | - | 237 M | 236 M | 224 M | - | 230 M | 229 M | 211 M | - | 223 M | 225 M | 213 M | - | 233 M | 231 M | 213 M | - | 214 M | 212 M | 216 M | - | 216 M | 221 M | 200 M | - | 190 M | 197 M | 185 M | 169 M | 163 M |
Operating Income |
40.9 M | 56.9 M | - | 80.4 M | 20.8 M | 30.5 M | - | 34.2 M | 24.5 M | 9.54 M | - | -2.15 M | 16.4 M | 172 M | - | 65.2 M | 32.3 M | 23.4 M | - | 46 M | 36.9 M | 28.1 M | - | 37.5 M | 28.6 M | 22.3 M | - | 29.4 M | 27.3 M | 13.8 M | - | 32.4 M | 34.7 M | 20.1 M | - | 34.3 M | 32 M | 23.8 M | - | 20.5 M | 19.1 M | 19.4 M | - | 29.9 M | 34.9 M | 24.3 M | - | 10.8 M | 32.9 M | 36.5 M | 31.7 M | 30.5 M |
Interest Expense |
9.74 M | 8.35 M | - | 4.85 M | 2.5 M | 1.29 M | - | 657 K | 1.22 M | 704 K | - | 973 K | -1.32 M | 76 K | - | - | - | - | - | - | - | - | - | 176 K | 179 K | 178 K | - | 167 K | 119 K | 135 K | - | 133 K | 25 K | 628 K | - | -70 K | 265 K | 88 K | - | 304 K | 400 K | 24 K | - | -899 K | 151 K | 104 K | - | -95 K | -571 K | 446 K | 160 K | 462 K |
EBITDA |
86.5 M | 79.2 M | - | 149 M | 66.5 M | 52.1 M | - | 108 M | 74.6 M | 33.4 M | - | 59.1 M | 54.8 M | 191 M | - | 120 M | 68.3 M | 41.4 M | - | 99.7 M | 72 M | 45.6 M | - | 92.3 M | 64.5 M | 41 M | - | 84.5 M | 65.5 M | 33.3 M | - | 87.5 M | 71.2 M | 38.1 M | - | 85.3 M | 65.4 M | 40.8 M | - | 71.4 M | 52.7 M | 36.2 M | - | 71 M | 62.2 M | 38.5 M | - | 46.5 M | 56.3 M | 47.5 M | 59.9 M | 49.5 M |
Operating Expenses |
257 M | 247 M | - | 237 M | 247 M | 235 M | - | 230 M | 223 M | 230 M | - | 218 M | 199 M | 214 M | - | 189 M | 218 M | 212 M | - | 211 M | 222 M | 209 M | - | 200 M | 208 M | 201 M | - | 200 M | 201 M | 197 M | - | 190 M | 190 M | 193 M | - | 198 M | 199 M | 190 M | - | 193 M | 193 M | 197 M | - | 187 M | 187 M | 175 M | - | 179 M | 164 M | 149 M | 137 M | 133 M |
General and Administrative Expenses |
50.5 M | 43.2 M | - | 34.6 M | 36.8 M | 33.2 M | - | 31 M | 30.3 M | 33.4 M | - | 37.4 M | 29.4 M | 26.2 M | - | 35.7 M | 29 M | 27.9 M | - | 26.7 M | 27.9 M | 27.3 M | - | 26.5 M | 26.2 M | 25.7 M | - | 24.5 M | 25.1 M | 24.6 M | - | 23.3 M | 23.2 M | 23 M | - | 22.7 M | 23.6 M | 22.5 M | - | 21.4 M | 22.2 M | 22.8 M | - | 20.7 M | 21.5 M | 21.4 M | - | 21.1 M | 21.2 M | 18.8 M | 17.4 M | 17 M |
All numbers in USD currency
The income statement is one of the three key financial reports of a company National Instruments Corporation (alongside the balance sheet and the cash flow statement). It shows how the company makes money and what its expenses are:
- How much revenue the company earned
- How much it spent on production, personnel, marketing, taxes, etc.
- What profit remained in the end
Analyzing the income statement helps an investor understand whether the business generates stable and growing profits, how effectively the company controls its expenses, and whether it is capable of generating income in the future. Additionally, this analysis shows how the company copes with crises and economic cycles, and allows assessing the potential for stock price growth and dividend payments.
Features- The income statement may include both recurring and one-time items (for example, profit from the sale of assets). It is necessary to separate core metrics from one-off events for accurate analysis.
- Companies often publish interim reports (e.g., quarterly), which allows for more timely tracking of trends.
- A combined analysis of the income statement with the balance sheet and cash flow statement provides a comprehensive view of the company’s financial health.
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