Cognex Corporation

Valuation Analysis

About the Company

Cognex Corporation provides machine vision products that capture and analyze visual information to automate manufacturing and distribution tasks in the United States, Europe, Greater China, and internationally. Its machine vision products are used to automate the manufacture and distribution of discrete items, such as mobile phones, automotive components, and e-commerce packages, by locating, identifying, inspecting, and measuring them. The company offers VisionPro software, a suite of patented vision tools for traditional rule-based tools and deep learning-enabled tools for advanced programming; vision systems that combine smart cameras and software to perform a wide range of tasks, including part location, identification, measurement, assembly verification, and robotic guidance; OneVisio

Cognex Corporation Stock at a Glance

Cognex Corporation (CGNX) is currently trading at $63.61 with a market capitalization of $10.6B. The trailing P/E ratio stands at 74.84x, with a forward P/E of 36.11x. The 52-week range spans from $29.22 to $71.90; the current price is 11.5% below the yearly high. Year-over-year revenue growth stands at +24.3%. The net profit margin stands at 13.62%.

💰 Dividend

Cognex Corporation pays an annual dividend of $0.34 per share, representing a yield of 0.53%. The payout ratio stands at 38.82%.

📊 Analyst Rating

20 analysts rate Cognex Corporation (CGNX) on consensus: Buy. The average price target is $76.25, implying +19.87% from the current price. Analyst price targets range from $61.00 to $94.00.

Cognex Corporation: The Investment Case in Detail

Cognex Corporation (CGNX) operates in the Technology — specifically Scientific & Technical Instruments — and is headquartered in United States. Below is a structured read of the investment case built directly from the latest fundamentals, valuation multiples, analyst positioning and smart-money flows. Each section translates raw numbers into the investment logic they imply, so you can decide whether the risk/reward fits your portfolio.

The Bull Case

Revenue is growing at a healthy 24.3% pace year-over-year, suggesting the business model continues to find new customers and pricing power. Earnings growth of 122.3% is outpacing revenue, a sign of operational leverage — fixed costs are being absorbed across a larger base. With a gross margin near 68.02%, the company sits in the top tier of its industry — these are the kinds of structural margins that protect earnings during downturns.

The Bear Case

Our valuation screen flags the stock as overvalued — current multiples imply the business needs to deliver well above its recent trajectory to justify the price.

Valuation in Context

The EV/EBITDA multiple of 45.77x reflects rich expectations — historically, multiples at this level have proven hard to maintain for more than a few quarters.

What to Watch Next

• The forward P/E of 36.11x is meaningfully below the trailing 74.84x — analysts expect earnings to step up; the next earnings release is the test.

Investment Thesis: Strengths & Weaknesses

Technical Snapshot

Price trades above both the 50- and 200-day moving averages, with 50d above 200d — a classic bullish setup (golden-cross alignment).

Risk Profile

The data points to above-average price swings.

Trading Data

💵 Dividend Info

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