2023-05-04 02:48:03 ET
Summary
- In the past year, NATI has rallied 69.75%, in contrast to the SPY's 0.88% decline.
- This reflects a reversion in NATI's net income - up 56.35% from 2021-22 - in addition to scale growth.
- NATI's unique instrumentation creation and test software and hardware create an equally unique moat.
- These complementary verticals support a roll-up sales strategy, generating a virtuous cycle of growth.
- Due to these factors, in addition to a level of undervaluation, I rate the company a 'buy'.
For further details see:
National Instruments Corporation: Quality Product And Service Base Enables Complementary Revenue Growth