23.5%$6.52B$5.28B
Strong Revenue Growth
Revenue grew 23.5% year-over-year to $6.52B in FY2025 (from $5.28B in the prior year), indicating strong demand across NI's product and service portfolio.
Source: Source: 10-K Income Statement
AI Takeaway
NI (National Instruments) delivered strong FY2025 results with revenue surging 23.5% to $6.52B, operating income rising 26.1% to $1.84B, and operating cash flow jumping 32.6% to $2.36B, reflecting robust business momentum.
Revenue
$6.52B
++23.47% YoY
EPS (Basic)
$1.96
++20.25% YoY
Operating Income
$1.84B
++26.09% YoY
Filed · Analysis updated · Source: SEC EDGAR 10-K filing
Revenue grew 23.5% year-over-year to $6.52B in FY2025 (from $5.28B in the prior year), indicating strong demand across NI's product and service portfolio.
Source: Source: 10-K Income Statement
Operating margin improved modestly to 28.1% from 27.6% in the prior year, demonstrating disciplined cost management even as the company scaled revenues significantly.
Source: Source: 10-K Income Statement / Key Ratios
Operating cash flow increased 32.6% to $2.36B, well outpacing net income growth of 22.2%, suggesting strong cash conversion and working capital improvements.
Source: Source: 10-K Cash Flow Statement
2 more insights available
Upgrade to unlockNI's current ratio stands at 0.69, meaning current liabilities of $3.46B exceed current assets of $2.38B. This could create short-term liquidity pressure if cash flows deteriorate or credit conditions tighten.
Source: Source: 10-K Balance Sheet
Unlock 4 more detailed risk analysis
Upgrade to unlockReported EPS of $0.51 versus the $0.52 analyst consensus — a -1.3% miss for FY2025.
| Metric | Current | Previous | YoY Change |
|---|---|---|---|
Revenue | $6.52B | $5.28B | +23.47% |
Operating Income | $1.84B | $1.46B | +26.09% |
Net Income | $929.5M | $760.4M | +22.24% |
EPS (Basic) | $1.96 | $1.63 | +20.25% |
EPS (Diluted) | $1.95 | $1.62 | +20.37% |
| Metric | Current | Previous | YoY Change |
|---|---|---|---|
Total Assets | $35.86B | $31.79B | +12.81% |
Current Assets | $2.38B | $2.08B | +14.28% |
Current Liabilities | $3.46B | $4.11B | -15.95% |
Stockholders' Equity | $9.45B | $8.68B | +8.82% |
Cash & Equivalents | $110.1M | $156.6M | -29.69% |
| Metric | Current | Previous | YoY Change |
|---|---|---|---|
Operating Cash Flow | $2.36B | $1.78B | +32.60% |
Investing Cash Flow | $-4.52B | $-3.21B | -40.81% |
Financing Cash Flow | $2.1B | $-651M | +422.41% |
D&A | $1.17B | $1.04B | +11.92% |
| Metric | Current | Previous | YoY Change |
|---|---|---|---|
Operating Margin | 28.1% | 27.6% | +0.59% |
Net Margin | 14.3% | — | — |
ROE | 9.8% | — | — |
ROA | 2.6% | — | — |
Current Ratio | $0.688 | — | — |
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NI's revenue grew 23.5% year-over-year to $6.52B in FY2025, up from $5.28B in the prior year. This strong top-line growth reflects robust demand across the company's product and service offerings.
NI delivered broad-based growth in FY2025, with revenue up 23.5% to $6.52B, net income up 22.2% to $929.5M, and operating cash flow surging 32.6% to $2.36B. Operating margin also expanded slightly to 28.1%, showing disciplined cost management alongside strong growth.
Key risks identified from NI's FY2025 financial data include a current ratio below 1.0 (0.69), indicating short-term liquidity pressure, and a sharp decline in cash reserves of 29.7% to just $110.1M. Additionally, investing outflows of -$4.52B suggest heavy capital deployment that carries execution and integration risk.
Yes, NI is profitable in FY2025, reporting net income of $929.5M on revenues of $6.52B, translating to a net margin of approximately 14.3%. Diluted EPS came in at $1.95, up 20.4% from $1.62 in the prior year.
NI's financial health shows mixed signals: operating cash flow is strong at $2.36B and total stockholders' equity grew 8.8% to $9.45B, but the current ratio of 0.69 and cash balance of only $110.1M suggest limited short-term liquidity. The company's significant investing outflows of -$4.52B indicate it is actively deploying capital, which could drive future growth but also adds financial risk.