Our analysis is based on comparing National Instruments Corp. with the following peers – Danaher Corporation, Agilent Technologies, Inc., AMETEK, Inc., Giga-tronics Incorporated, Wireless Telecom Group, Inc., Synopsys, Inc., Teradyne, Inc. and ANSYS, Inc. (DHR-US, A-US, AME-US, GIGA-US, WTT-US, SNPS-US, TER-US and ANSS-US).
National Instruments Corp.’s dividend yield is 2.29 percent and its dividend payout is 109.46 percent. This compares to a peer median dividend yield of 0.68 percent and a payout level of 16.22 percent. This type of dividend performance might make it a good stock for dividend investors. In addition, the company’s relatively good dividend quality score of 75 out of a possible score of 100 points to some sustainability of its robust payout ratio, and underscores its attractiveness for dividend investors seeking current income.
Dividend Quality Overview
- Over the last twelve months (prior to March 31, 2017), NATI-US paid a medium quality dividend, which represents a yield of 2.29% at the current price.
- Dividend quality trend has not been consistent over the last five years. Dividends were paid during each of these years — of these 3 were high quality and 2 were medium quality.
- The ending cash balance, with a dividend coverage of 3.50x, provides a substantial cushion in case of a significant reduction of cash flows in the future.
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Over the last twelve months (prior to March 31, 2017), NATI-US paid a medium quality dividend.
The source of the company’s cash to support the dividend paid over the last twelve months is operating cash flow (coverage of 1.85x), investing cash flow (coverage of -1.03x), issuance cash flow (coverage of 0.27x) and twelve-month prior cash (coverage of 3.14x), for a total dividend coverage of 4.50x.
These coverage ratio factors imply that the firm’s net cash inflow from issuance was required (in addition to operating and investment cash) to pay the dividend, which suggests a medium dividend quality.
|Dividend Yield (%)||2.16||1.73||1.92||2.67||2.58||2.29|
|Dividend Payout (%)||76.71||87.5||60.61||102.7||125||109.46|
A complete list of metrics and analysis is available on the company page.
National Instruments Corp. designs, manufactures and sells systems to engineers and scientists that accelerate productivity, innovation and discovery. It provides application software and modular, multifunction hardware that users combine with industry-standard computers, networks and third party devices to create measurement, automation and embedded systems, which refer as virtual instruments. The company was founded by Jeffrey L. Kodosky and James J. Truchard in May 1976 and is headquartered in Austin, TX.
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