Start with its own history
At 44.44×, NATI is 8.3% below its 10-observation annual average. A lower multiple can reflect a lower price, higher earnings, or weaker growth expectations—not necessarily a bargain.
NASDAQ · NATISoftware - ApplicationUpdated Nov 4, 2026
National Instruments Corporation P/E ratio
Current valuation, historical context, and peer comparisons.
Current P/E ratio
44.44×
8.3% belowthe 10-year annual average
Share price59.99
÷Earnings per share1.35
Price and EPS in quote currency. Calculation details
Investors are paying 44.44 for every 1 of reported earnings per share.
P/E over time
2013 – 2022
Annual P/ESelected-period average 48.45×
3-year average46.44×3 positive annual observations
5-year average42.57×5 positive annual observations
10-year average48.45×10 positive annual observations
Peer median · TTM82.36×1 peers with positive P/E
Historical P/E ratios
Annual period-end data · 25 observations
| Period end | P/E | Change |
|---|---|---|
| Dec 31, 2022 | 35.14× | -45.3% |
| Dec 31, 2021 | 64.22× | +60.8% |
| Dec 31, 2020 | 39.95× | +16.0% |
| Dec 31, 2019 | 34.42× | -12.0% |
| Dec 31, 2018 | 39.12× | -62.4% |
| Dec 31, 2017 | 104.08× | +116.1% |
| Dec 31, 2016 | 48.16× | +24.2% |
| Dec 31, 2015 | 38.77× | +23.5% |
View all 25 annual observations +
| Period end | P/E | Change |
|---|---|---|
| Dec 31, 2014 | 31.40× | -36.3% |
| Dec 31, 2013 | 49.26× | +41.2% |
| Dec 31, 2012 | 34.88× | +6.2% |
| Dec 31, 2011 | 32.85× | +21.7% |
| Dec 31, 2010 | 26.98× | -79.4% |
| Dec 31, 2009 | 130.89× | +480.3% |
| Dec 31, 2008 | 22.56× | -8.6% |
| Dec 31, 2007 | 24.69× | -17.1% |
| Dec 31, 2006 | 29.77× | -27.5% |
| Dec 31, 2005 | 41.09× | -7.3% |
| Dec 31, 2004 | 44.31× | -36.4% |
| Dec 31, 2003 | 69.69× | +30.3% |
| Dec 31, 2002 | 53.48× | +2.8% |
| Dec 31, 2001 | 52.03× | +18.1% |
| Dec 31, 2000 | 44.04× | +3.6% |
| Dec 31, 1999 | 42.50× | +42.9% |
| Dec 31, 1998 | 29.74× | N/M |
Change is relative to the preceding observation. N/M values are excluded from averages.
How NATI compares
Company P/E vs. peer trailing-12-month ratios
| Company | P/E ratio |
|---|---|
 NATI This stockNational Instruments Corporation | 44.44× |
 SMARSmartsheet Inc. | N/M |
 COUPCoupa Software Incorporated | N/M |
 HCPHashiCorp, Inc. | N/M |
 BKIBlack Knight, Inc. | 82.36× |
 AZTAAzenta, Inc. | N/M |
 XMQualtrics International Inc. | N/M |
 PLANAnaplan, Inc. | N/M |
 NEWRNew Relic, Inc. | N/M |
Peers are selected by the data provider. Business models and earnings definitions can differ.
Put the numbers in context
What does NATI’s P/E tell you?
Compare like with like
The median of the 1 positive peer ratios above is 82.36×. Check growth, margins, debt, and earnings quality before interpreting the gap. A faster-growing business may justify a higher multiple.
Check what drives earnings
One-off gains can temporarily lower P/E; unusual charges can raise it. Reported earnings and forward estimates answer different questions. Pair this view with return on equity and liquidity for a fuller picture.
Keep your research connected
Take NATI into your spreadsheet
Pull historical P/E into Excel or Google Sheets with Wisesheets. Build your own comparisons alongside the rest of your financial model.
Explore WisesheetsQuarterly P/E · latest quarterLQ selects the latest reported quarter. Requires the Wisesheets add-in. See available data
=WISE("NATI", "PE Ratio", "LQ")Sources & calculation methodology
Current P/E
Share price 59.99 ÷ EPS 1.35 = 44.44×. Data is supplied by Financial Modeling Prep through Wisesheets. Quote feed updated Nov 4, 2026; this is not a real-time trading quote.
History & averages
Annual and quarterly P/E observations are provided separately from the current quote. Averages use the latest 3, 5, or 10 annual observations, excluding missing and nonpositive ratios. Pre-IPO observations are omitted. These are period-end observations, not daily averages.
Data definitions and limitations
The current quote feed does not specify the exact EPS filing-period end or whether EPS is basic or diluted. We do not label it as forward P/E. Peer ratios are explicitly trailing-12-month (TTM) values. Historical observations do not include independently verified price and EPS inputs. Sources may update on different schedules; rounded inputs can produce small calculation differences. Historical comparisons describe past pricing, not an estimate of fair value.
NATI P/E ratio: common questions
The essentials behind the numbers.
National Instruments Corporation's current P/E is 44.44× based on the quote data last updated Nov 4, 2026. It represents the share price divided by reported earnings per share. Prices and earnings may refresh on different schedules.
Annual P/E uses earnings for a completed fiscal year. Trailing-12-month (TTM) P/E uses the latest four quarters, while forward P/E uses forecast earnings. These are not interchangeable. This page labels peer ratios as TTM and shows dated annual or quarterly historical observations; it does not show forward estimates.
N/M means not meaningful: the feed has no positive P/E for that observation. Negative or zero earnings should not be ranked as a low positive valuation multiple. N/M observations are excluded from the averages shown above.
Divide the share price by earnings per share (EPS). For example, a share price of 100 and EPS of 5 gives a P/E of 20×. This page uses the price and EPS supplied together in the quote when both are positive.
Price timestamps, EPS definitions, share classes, adjustments, and fiscal periods can differ. A forward P/E also uses forecast earnings rather than reported earnings. Compare the inputs and as-of dates before comparing two displayed ratios.
Not necessarily. The average describes previous market pricing, not fair value. Changes in earnings quality, growth expectations, debt, accounting, and business risk can justify a different multiple today.