COGNEX CORP CGNX

Technology SIC 3823 - Industrial Instruments For Measurement, Display, and Control NAICS Manufacturing › Computer and Electronic Product Manufacturing › Navigational, Measuring, Electromedical, and Control Instruments Manufacturing › Instruments and Related Products Manufacturing for Measuring, Displaying, and Controlling Industrial Process Variables derived Nasdaq

Founded in 1981, Cognex Corporation (the "Company" or "Cognex") makes advanced machine vision easy, paving the way for manufacturing and distribution companies to become faster, smarter, and more efficient through automation. We are a global technology leader in industrial machine vision systems that seek to improve efficiency and help solve critical manufacturing and distribution challenges, providing support across a diverse set of industrial end markets. Our solutions blend hardware and software to capture and analyze visual information, aiding the automation of manufacturing and distribution tasks for customers worldwide. Machine vision products are used to automate the manufacturing and distribution of discrete items, such as mobile phones, automotive components, and consumer goods, by locating, identifying, inspecting, and measuring them. Machine vision can be particularly valuable for applications in which human vision is inadequate to meet requirements for size, accuracy, or speed, or in instances where substantial cost savings can be obtained through the reduction of labor costs or improved product quality.

Last close 55.55 2026-10-23
Market cap $9.34B 2026-07-05 share count
52-week range 34.60 - 72.88

Valuation FY2025 figures against the last close

P/S9.4x
P/E81.7x
P/FCF39.5x
EV/EBITDA51.1x
Dividend yield0.6%
Diluted EPS0.68

Where the revenue comes from as reported in the latest 10-K

Revenue by geography

  • United States
  • Other
  • Europe
  • Greater China
Revenue by geography, 4 categories over 3 years. The same figures are in the table below. FY2025 United States, FY2025: 329.1M (33.1%) 33% United States Other, FY2025: 255.1M (25.7%) 26% Other Europe, FY2025: 251.6M (25.3%) 25% Europe Greater China, FY2025: 158.5M (15.9%) 16% Greater China FY2024 United States, FY2024: 306.8M (33.5%) 34% Other, FY2024: 225.7M (24.7%) 25% Europe, FY2024: 217.9M (23.8%) 24% Greater China, FY2024: 164.1M (17.9%) 18% FY2023 United States, FY2023: 288.3M (34.4%) 34% Other, FY2023: 164.4M (19.6%) 20% Europe, FY2023: 220.7M (26.3%) 26% Greater China, FY2023: 164.1M (19.6%) 20%
Region FY2025FY2024FY2023
United States $329.1M $306.8M $288.3M
Other $255.1M $225.7M $164.4M
Europe $251.6M $217.9M $220.7M
Greater China $158.5M $164.1M $164.1M

As the company reported it, from the “Segment and Geographic Information - Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas (Detail)” note of its latest 10-K. Every figure here has been checked against the total revenue the same filing reported. Regions are the filer's own and are not mapped onto a standard list — one company's “Americas” and another's “United States” are different areas, and making them look comparable would mean making at least one of them wrong. Slices under 1% are folded into “Other”.

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue $994.4M$914.5M$837.5M$1.01B$1.04B$811.0M$725.6M$806.3M$766.1M$529.5M
Cost of revenue $329.0M$288.7M$236.3M$284.2M$277.3M$206.4M$189.8M$206.1M$187.3M$131.1M
Gross profit $665.4M$625.8M$601.2M$721.9M$759.8M$604.6M$535.9M$600.3M$578.8M$398.4M
R&D $139.0M$139.8M$139.4M$141.1M$135.4M$131.0M$119.4M$116.4M$99.2M$78.3M
SG&A $363.9M$370.9M$339.1M$312.1M$309.4M$267.6M$273.8M$262.7M$220.7M$166.1M
Operating income $162.6M$115.1M$130.7M$246.2M$315.1M$170.5M$142.6M$221.1M$258.9M$154.1M
Pre-tax income $182.8M$131.5M$135.3M$250.7M$318.9M$186.9M$163.0M$234.6M$266.5M$162.1M
Income tax $68.4M$25.3M$22.1M$35.2M$39.0M$10.7M$40.9M$15.3M$89.8M$18.1M
Net income $114.4M$106.2M$113.2M$215.5M$279.9M$176.2M$203.9M$219.3M$176.7M$143.7M
EPS, basic 0.680.620.661.241.591.021.191.271.020.84
EPS, diluted 0.680.620.651.231.561.001.161.240.980.83
Shares, diluted (wtd. avg.) 169.4M172.6M173.4M174.9M179.9M176.6M175.3M177.4M179.6M174.1M

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents $262.9M$186.1M$202.7M$181.4M$186.2M$269.1M$171.4M$108.2M$106.6M$79.6M
Short-term investments $74.0M$60.0M$129.4M$218.8M$137.5M$103.2M$240.5M$427.3M$298.0M$341.2M
Receivables $146.7M$143.4M$114.2M$125.4M$130.3M$125.7M$103.4M$119.2M$119.4M$55.4M
Inventory $137.9M$157.5M$162.3M$122.5M$113.1M$60.8M$60.3M$83.3M$67.9M$27.0M
Total current assets $697.2M$613.4M$679.0M$717.7M$639.8M$601.7M$607.2M$780.3M$630.0M$526.3M
Property, plant and equipment $86.0M$98.4M$105.8M$79.7M$77.5M$79.2M$89.4M$91.4M$78.0M$54.0M
Goodwill $386.3M$384.9M$393.2M$242.6M$241.7M$244.1M$243.4M$113.2M$113.2M$95.3M
Other intangibles $81.1M$90.7M$113.0M$12.4M$11.9M$15.6M$39.5M$10.1M$10.1M$8.3M
Total assets $2.02B$1.99B$2.02B$1.96B$2.00B$1.80B$1.89B$1.29B$1.29B$1.04B
Accounts payable $50.2M$38.0M$21.5M$27.1M$44.1M$16.3M$17.9M$16.2M$23.5M$9.8M
Total current liabilities $183.6M$169.4M$151.9M$187.7M$188.6M$132.3M$120.5M$91.4M$112.6M$65.8M
Total liabilities $524.7M$475.3M$513.1M$519.7M$573.6M$538.5M$530.2M$154.4M$192.1M$76.0M
Retained earnings $406.4M$499.3M$512.5M$528.2M$562.9M$487.9M$753.3M$646.2M$668.6M$644.6M
Total equity $1.49B$1.52B$1.50B$1.44B$1.43B$1.26B$1.36B$1.14B$1.10B$963.4M

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow $245.5M$149.1M$112.9M$243.4M$314.1M$242.4M$253.3M$223.5M$224.3M$182.1M
Depreciation and amortisation $20.3M$21.3M$17.3M$16.3M$16.6M$22.1M$21.5M$18.5M$13.7M$11.7M
Stock-based compensation —————$1.4M————
Capital expenditure $8.7M$15.0M$23.1M$19.7M$15.5M$13.3M$21.7M$37.1M$28.8M$12.8M
Investing cash flow $28.0M-$39.0M$32.3M-$4.5M-$252.5M$169.4M-$157.3M-$10.8M-$105.6M-$121.8M
Financing cash flow -$206.7M-$118.4M-$125.6M-$240.4M-$141.6M-$316.9M-$32.2M-$209.9M-$100.1M-$29.2M
Dividends paid $54.6M$52.3M$49.1M$45.9M$43.3M$390.5M$35.1M$31.9M$29.0M$25.2M
Buybacks $151.2M$67.1M$79.8M$204.3M$161.7M$51.0M$61.7M$203.8M$123.7M$47.1M

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0000851205-26-000012.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. 0 500M 1B 1.5B Revenue, FY2016: 529.5M Gross profit, FY2016: 398.4M Net income, FY2016: 143.7M Revenue, FY2017: 766.1M Gross profit, FY2017: 578.8M Net income, FY2017: 176.7M Revenue, FY2018: 806.3M Gross profit, FY2018: 600.3M Net income, FY2018: 219.3M Revenue, FY2019: 725.6M Gross profit, FY2019: 535.9M Net income, FY2019: 203.9M Revenue, FY2020: 811M Gross profit, FY2020: 604.6M Net income, FY2020: 176.2M Revenue, FY2021: 1B Gross profit, FY2021: 759.8M Net income, FY2021: 279.9M Revenue, FY2022: 1B Gross profit, FY2022: 721.9M Net income, FY2022: 215.5M Revenue, FY2023: 837.5M Gross profit, FY2023: 601.2M Net income, FY2023: 113.2M Revenue, FY2024: 914.5M Gross profit, FY2024: 625.8M Net income, FY2024: 106.2M Revenue, FY2025: 994.4M Gross profit, FY2025: 665.4M Net income, FY2025: 114.4M FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue $529.5M $766.1M $806.3M $725.6M $811.0M $1.04B $1.01B $837.5M $914.5M $994.4M
Gross profit $398.4M $578.8M $600.3M $535.9M $604.6M $759.8M $721.9M $601.2M $625.8M $665.4M
Net income $143.7M $176.7M $219.3M $203.9M $176.2M $279.9M $215.5M $113.2M $106.2M $114.4M

Recent filings and events

  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
  • Results announced Item 2.02
  • Other event Item 8.01
  • Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Auditor changed The company changed auditors. Sometimes routine; historically one of the more reliable warnings that something is wrong. Item 4.01
  • Officer or director change Item 5.02
  • Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
  • Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
  • Results announced Item 2.02
  • Other event Item 8.01

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

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