National Instruments (National Instruments) Total Inventories : $402 Mil (As of Jun. 2023)

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What is National Instruments Total Inventories?

National Instruments's total inventories for the quarter that ended in Jun. 2023 was $402 Mil. National Instruments's average total inventories from the quarter that ended in Mar. 2023 to the quarter that ended in Jun. 2023 was $401 Mil.

In Ben Graham's calculation of Net-Net Working Capital, inventory is only considered worth half of its book value. National Instruments's Net-Net Working Capital per share for the quarter that ended in Jun. 2023 was $-3.86.

Days Inventory indicates the number of days of goods in sales that a company has in the inventory. National Instruments's Days Inventory for the three months ended in Jun. 2023 was 309.08.

Inventory Turnover measures how fast the company turns over its inventory within a year. National Instruments's Inventory Turnover for the quarter that ended in Jun. 2023 was 0.30.

Inventory-to-Revenue determines the ability of a company to manage their inventory levels. It measures the percentage of Inventories the company currently has on hand to support the current amount of Revenue. National Instruments's Inventory-to-Revenue for the quarter that ended in Jun. 2023 was 0.96.

National Instruments Total Inventories Historical Data

The historical data trend for National Instruments's Total Inventories can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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National Instruments Total Inventories Chart

National Instruments Annual Data

Trend

Dec13

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Dec22

Total Inventories

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194.15

200.41

194.01

289.24

388.16

National Instruments Quarterly Data
	Sep18	Dec18	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23
Total Inventories	Get a 7-Day Free Trial															343.63	373.54	388.16	401.06	401.63

National Instruments Total Inventories Calculation

Total Inventories includes the raw materials, work-in-process goods and completely finished goods of a company. It is a portion of a company's current assets.

National Instruments (NAS:NATI) Total Inventories Explanation

Inventory control is an important part of business operation. If a company does not have enough inventory, it may not be able to meet customers' required delivery time. If it has too much inventory, the cost of holding the inventory can be high.

1. In Ben Graham's calculation of Net-Net Working Capital (NNWC), inventory is only considered worth half of its book value.

National Instruments's Net-Net Working Capital Per Share for the quarter that ended in Jun. 2023 is

	Net-Net Working Capital Per Share (Q: Jun. 2023 )
=	(Cash And Cash Equivalents	+	0.75 * Accounts Receivable	+	0.5 * Total Inventories	-	Total Liabilities
-	Preferred Stock	-	Minority Interest)	/	Shares Outstanding (EOP)
=	(139.243	+	0.75 * 389.926	+	0.5 * 401.626	-	1145.474
-	0	-	0)	/	132.798
=	-3.86

2. Days Inventory indicates the number of days of goods in sales that a company has in the inventory.

National Instruments's Days Inventory for the three months ended in Jun. 2023 is calculated as:

Days Inventory	=	Average Total Inventories (Q: Jun. 2023 )	/	Cost of Goods Sold (Q: Jun. 2023 )	*	Days in Period
	=	401.343	/	118.487	*	365 / 4
	=	309.08

3. Inventory Turnover measures how fast the company turns over its inventory within a year.

National Instruments's Inventory Turnover for the quarter that ended in Jun. 2023 is calculated as

Inventory Turnover	=	Cost of Goods Sold (Q: Jun. 2023 )	/	Average Total Inventories (Q: Jun. 2023 )
	=	118.487	/	401.343
	=	0.30

4. Inventory-to-Revenue determines the ability of a company to manage their inventory levels. It measures the percentage of Inventories the company currently has on hand to support the current amount of Revenue.

National Instruments's Inventory to Revenue for the quarter that ended in Jun. 2023 is calculated as

Inventory-to-Revenue	=	Average Total Inventories (Q: Jun. 2023 )	/	Revenue (Q: Jun. 2023 )
	=	401.343	/	416.804
	=	0.96

Be Aware

Manufacturers with durable competitive advantages have the advantage that the products they sell do not change, and therefore will never become obsolete. Buffett likes this advantage.

When identifying manufacturers with durable competitive advantage, look for inventory and net earnings that rise correspondingly. This indicates that the company is finding profitable ways to increase sales which called for an increase in inventory.

Manufacturers with inventories that spike up and down are indicative of competitive industries subject to boom and bust.

National Instruments Total Inventories Related Terms

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National Instruments (National Instruments) Business Description

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Address

11500 North MoPac Expressway, Austin, TX, USA, 78759

Website

https://www.ni.com

National Instruments provides testing and measurement equipment and integrated, software-led solutions to serve high-complexity automated testing in late product development. NI serves a long tail of more than 30,000 customers in myriad end markets but focuses on the semiconductor, transportation, and aerospace and defense verticals.

Executives

Ritu Favre	officer: Executive Vice President	12367 CROSTHWAITE CIRCLE, POWAY CA 92064
Scott Arthur Rust	officer: Executive Vice President	C/O NATIONAL INSTRUMENTS CORPORATION, 11500 NORTH MOPAC, AUSTIN TX 78759
Alexander M Davern	officer: Senior Vice President and CFO	C/O NATIONAL INSTRUMENTS, 11500 MOPAC BLDG C, AUSTIN TX 78759
Thomas Benjamin	officer: Executive Vice President	C/O NATIONAL INSTRUMENTS CORPORATION, 11500 NORTH MOPAC EXPRESSWAY, AUSTIN TX 78759
Eric Howard Starkloff	director, officer: President & CEO	11500 NORTH MOPAC, BUILDING C, AUSTIN TX 78759
Daniel Berenbaum	officer: Chief Financial Officer, EVP	C/O EVERSPIN TECHNOLOGIES, INC., 5670 W. CHANDLER BLVD., SUITE 100, CHANDLER AZ 85226
Cashman James E Iii	director	2600 ANSYS DRIVE, CANONSBURG PA 15317
Gerhard Paul Fettweis	director	C/O NATIONAL INSTRUMENTS CORPORATION, 11500 NORTH MOPAC, AUSTIN TX 78759
Michael E Mcgrath	director	11701 LUNA ROAD, DALLAS TX 75234
Liam Griffin	director	5260 CALIFORNIA AVENUE, IRVINE CA 92617
Gayla J Delly	director	3000 TECHNOLOGY DR, ANGLETON TX 77515
Jason Elliot Green	officer: Chief Revenue Officer & EVP	C/O NATIONAL INSTRUMENTS CORPORATION, 11500 NORTH MOPAC, AUSTIN TX 78759
Karen Marie Rapp	officer: Chief Financial Officer & EVP	C/O NATIONAL INSTRUMENTS CORPORATION, 11500 NORTH MOPAC, AUSTIN TX 78759
Carla Pineyro Sublett	officer: Chief Marketing Officer	C/O NATIONAL INSTRUMENTS CORPORATION, 11500 NORTH MOPAC, AUSTIN TX 78759
Jeffrey L Kodosky	director	C/O NATIONAL INSTRUMENTS CORP, 11500 N. MOPAC EXPRESSWAY, AUSTIN TX 78759