Cognex Corp (CGNX)

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; OneVision, a cloud-based platform designed to transform how manufacturers build, train, and scale AI-powered vision applications; In-Sight product line of vision systems and sensors; QuickBuild, which allows customers to build vision applications with a graphical and flowchart-based programming interface; DataMan, an image-based barcode reader for fixed-mount and handheld models, as well as barcode verifiers; and vision accessories, such as industrial cameras, lenses, lighting, vision controllers, frame grabbers, and I/O cards. It sells its products to the automotive, logistics, packaging, consumer electronics, medical-related, semiconductor, and consumer products industries. The company was incorporated in 1981 and is headquartered in Natick, Massachusetts.

Ticker
CGNX
Exchange
Nasdaq
Sector
Technology
Industry
Scientific & Technical Instruments
Market cap
$8.04B
52-week range
$34.60 - $72.88

Valuation

Share price
$47.78 (close of Nov 6, 2026)
P/E (TTM)
33.41x
Price to book
4.67x
Price to free cash flow
28.12x
Enterprise value
$7.42B
Book value per share
$10.22

Price performance

PeriodChange
1 day+0.59%
5 days-14.91%
1 month-27.99%
3 months-29.09%
6 months-23.26%
Year to date+32.80%
1 year+20.84%
3 years+32.76%
5 years-39.49%
10 years+88.18%
All time+13,643.47%

Short interest

As of
Oct 15, 2026
Short % of float
4.40%
Shares short
6.56M
Days to cover
3.07
Change since prior report
-9.20%
Source
FINRA consolidated short interest

Profitability and growth

Return on equity
7.67%
Return on invested capital
6.01%
Return on assets
5.68%
Return on capital employed
8.87%
Gross margin
66.92%
Net margin
11.51%
EBITDA margin
19.45%
Revenue growth
8.73%
Net income growth
7.79%
Free cash flow growth
76.64%

Cash flow and balance sheet

Free cash flow yield (TTM)
3.56%
Current ratio
5.04x
Net debt to EBITDA
-2.02x

Latest reported year

Period end
Dec 31, 2025
Fiscal year
2025
Revenue
$994.36M
Cost of revenue
$328.97M
Gross profit
$665.39M
EBITDA
$193.36M
Net income
$114.44M
Earnings per share
$0.68
Research and development
$138.97M
Shares outstanding
168.05M

Income statement by year

Period endRevenueGross profitNet incomeEPS
2025-12-31$994.36M$665.39M$114.44M$0.68
2024-12-31$914.51M$625.79M$106.17M$0.62
2023-12-31$837.55M$601.24M$113.23M$0.66
2022-12-31$1.01B$721.90M$215.53M$1.24
2021-12-31$1.04B$759.83M$279.88M$1.59
2020-12-31$811.02M$604.60M$176.19M$1.02
2019-12-31$725.63M$535.87M$203.87M$1.19
2018-12-31$806.34M$600.29M$219.27M$1.27
2017-12-31$766.08M$578.79M$176.71M$1.02
2016-12-31$529.51M$398.44M$143.69M$0.84

Margins and returns by year

Period endGross marginNet marginReturn on equityReturn on capital
2025-12-3166.92%11.51%7.67%6.01%
2024-12-3168.43%11.61%7.00%5.65%
2023-12-3171.79%13.52%7.53%6.86%
2022-12-3171.75%21.42%14.98%14.28%
2021-12-3173.26%26.99%19.57%18.97%
2020-12-3174.55%21.72%13.96%12.40%
2019-12-3173.85%28.10%15.04%10.38%
2018-12-3174.45%27.19%19.31%18.13%
2017-12-3175.55%23.07%16.13%15.43%
2016-12-3175.25%27.14%14.92%14.11%

Cash and debt by year

Period endCash
2025-12-31$262.93M
2024-12-31$186.09M
2023-12-31$202.66M
2022-12-31$181.37M
2021-12-31$186.16M
2020-12-31$269.07M
2019-12-31$171.43M
2018-12-31$108.21M
2017-12-31$106.58M
2016-12-31$79.64M

Free cash flow by year

Period endFree cash flowStock-based compensation
2025-12-31$236.77M$48.52M
2024-12-31$134.04M$52.44M
2023-12-31$89.84M$54.77M
2022-12-31$223.74M$54.51M
2021-12-31$298.61M$43.77M
2020-12-31$229.10M$1.40M
2019-12-31$231.57M$45.59M
2018-12-31$186.36M$41.09M
2017-12-31$195.57M$31.94M
2016-12-31$169.26M$20.56M

Dividend history

Most recent payment
Aug 20, 2026
Paid in the last twelve months
$0.34
Payment dateDividend per share
2026-08-20$0.09
2026-05-21$0.09
2026-02-26$0.09
2025-11-13$0.09
2025-08-14$0.08
2025-05-15$0.08
2025-02-27$0.08
2024-11-14$0.08

Investor relations

Past earnings dates

ReportedFiscal periodEPS estimate
2026-11-04Sep 2026$0.51
2026-08-05Jun 2026$0.42
2026-05-06Mar 2026$0.20
2026-02-11Dec 2025$0.16
2025-10-29Sep 2025$0.21
2025-07-30Jun 2025$0.17
2025-04-30Mar 2025$0.07
2025-02-12Dec 2024$0.04

Filings and sources

Company website
cognex.com
SEC filings
10-K, 10-Q and 8-K on EDGAR
Earnings calendar
All upcoming reports

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