CGNXNasdaqIndustrial Instruments For Measurement, Display, and ControlFiscal year ends December 31
COGNEX CORP
Financials through Q2 FY2026, quarter ended Jul 5, 2026Last filing: 10-Q on Aug 6, 2026
$55.16+1.17 (+2.17%)
Close on Oct 19, 2026
- Market cap
- $9.38B
- P/E (TTM)
- 53.6
- Dividend yield
- 0.59%
Margins
Share of revenue, fiscal years 2011 to 2025
Gross margin
66.9%−7.6 pts over 5 years
Operating margin
16.3%−4.7 pts over 5 years
Net margin
11.5%−10.2 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +8.7% | -0.4% | +4.2% | +8.2% | |
| Gross profit | +6.3% | -2.7% | +1.9% | +6.7% | |
| Operating income | +41.3% | -12.9% | -1.0% | +3.0% | |
| Net income | +7.8% | -19.0% | -8.3% | -4.8% | |
| EPS, diluted | +9.7% | -17.9% | -7.4% | -4.3% | |
| Free cash flow | +76.6% | +1.9% | +0.7% | +8.0% | |
| Dividend per share | +6.6% | +7.0% | -31.9% | +11.4% |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | 16.0% | 13.5% | 7.6% | |
| Return on assets | 14.9% | 9.6% | 5.7% | |
| Current ratio | 8.00 | 4.55 | 3.80 | |
| Inventory turnover | 4.1× | 3.4× | 2.2× | |
| Capex to revenue | 2.4% | 1.6% | 0.9% | |
| Diluted shares | 174M | 177M | 169M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Cognex generated $1.06B from operations and spent $991.28M on capital expenditure, dividends and share buybacks. 8% of that went back into the business.
Generated
$1.06B
Used
$991.28M
Capital expenditure$81.99M8%Dividends$245.22M25%Share buybacks$664.08M67%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin11.5%
×Asset turnover0.50×
×Equity multiplier1.33×
=Return on equity, FY20257.6%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | 11.5% | 0.50× | 1.33× | 7.6% |
| FY2024 | 11.6% | 0.46× | 1.33× | 7.0% |
| FY2023 | 13.5% | 0.42× | 1.35× | 7.7% |
| FY2022 | 21.4% | 0.51× | 1.38× | 15.0% |
| FY2021 | 27.0% | 0.55× | 1.41× | 20.8% |
| FY2020 | 21.7% | 0.44× | 1.41× | 13.5% |
| FY2019 | 28.1% | 0.46× | 1.27× | 16.4% |
| FY2018 | 27.2% | 0.63× | 1.16× | 19.7% |
| FY2017 | 23.1% | 0.66× | 1.13× | 17.2% |
| FY2016 | 27.1% | 0.55× | 1.07× | 16.0% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
7of 8 tests passed in fiscal 2025. Some tests lack the figures they need.
- ProfitableNet income above zero$114.44M
- Cash generatingOperating cash flow above zero$245.51M
- Return on assets improvedROA up on the prior year5.3% → 5.7%
- Earnings backed by cashOperating cash flow above net income$245.51M vs $114.44M
- Less leverageLong-term debt to assets fell– → –
- Better liquidityCurrent ratio rose3.62 → 3.80
- No dilutionShare count did not rise173M → 169M
- Gross margin improvedGross margin up on the prior year68.43% → 66.92%
- More efficientAsset turnover rose0.45 → 0.50