Cognex Corporation (CGNX) Financial Ratios
30 years of historical data (1996–2025) · Technology · Hardware, Equipment & Parts
EV/EBITDA
↓
56.13
↑+48% vs avg
5yr avg: 37.99
30Y Low9.5·High70.7
P/FCF
↓
46.63
-1% vs avg
5yr avg: 47.23
30Y Low11.6·High103.1
P/B Ratio
↓
7.50
↑+32% vs avg
5yr avg: 5.70
30Y Low1.5·High11.2
ROE
↓
7.6%
↑-35% vs avg
5yr avg: 11.6%
30Y Low-3%·High24%
Debt/EBITDA
↑
0.40
↑+23% vs avg
5yr avg: 0.32
30Y Low0.1·High0.5
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
CGNX Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Cognex Corporation trades at 97.2x earnings, 85% above its 5-year average of 52.6x, sitting at the 100th percentile of its historical range. Compared to the Technology sector median P/E of 29.0x, the stock trades at a premium of 235%. On a free-cash-flow basis, the stock trades at 46.6x P/FCF, roughly in line with the 5-year average of 47.2x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $11.0B | $6.1B | $6.2B | $7.2B | $8.2B | $14.0B | $14.2B | $9.8B | $6.9B | $11.0B | $5.5B |
| Enterprise Value | $10.9B | $5.9B | $6.1B | $7.1B | $8.1B | $13.8B | $13.9B | $9.7B | $6.8B | $10.9B | $5.5B |
| P/E Ratio → | 97.21 | 52.91 | 57.84 | 64.22 | 38.30 | 49.85 | 80.29 | 48.31 | 31.19 | 61.78 | 36.99 |
| P/S Ratio | 11.10 | 6.13 | 6.77 | 8.64 | 8.19 | 13.49 | 17.48 | 13.54 | 8.51 | 14.33 | 10.46 |
| P/B Ratio | 7.50 | 4.08 | 4.08 | 4.81 | 5.73 | 9.78 | 11.23 | 7.24 | 6.04 | 10.03 | 5.75 |
| P/FCF | 46.63 | 25.74 | 46.18 | 80.56 | 36.82 | 46.85 | 61.89 | 42.42 | 36.81 | 56.15 | 32.73 |
| P/OCF | 44.97 | 24.82 | 41.52 | 64.10 | 33.85 | 44.55 | 58.49 | 38.77 | 30.70 | 48.95 | 30.42 |
P/E links to full P/E history page with 30-year chart
CGNX EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
Cognex Corporation's enterprise value stands at 56.1x EBITDA, 48% above its 5-year average of 38.0x. The Technology sector median is 16.7x, placing the stock at a 235% premium on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 5.94 | 6.64 | 8.49 | 8.05 | 13.33 | 17.18 | 13.32 | 8.37 | 14.20 | 10.31 |
| EV / EBITDA | 56.13 | 30.55 | 41.11 | 46.62 | 30.45 | 41.24 | 70.73 | 57.72 | 27.82 | 39.42 | 32.28 |
| EV / EBIT | 66.76 | 36.34 | 52.79 | 57.97 | 30.14 | 43.89 | 67.64 | 67.80 | 30.53 | 42.01 | 35.44 |
| EV / FCF | — | 24.95 | 45.32 | 79.18 | 36.19 | 46.31 | 60.83 | 41.75 | 36.23 | 55.61 | 32.26 |
CGNX Profitability
Margins and return-on-capital ratios measuring operating efficiency
Cognex Corporation earns an operating margin of 16.3%. ROE of 7.6% is modest. ROIC of 9.0% represents adequate returns on invested capital.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 66.9% | 66.9% | 68.4% | 71.8% | 71.8% | 73.3% | 74.5% | 73.8% | 74.4% | 75.6% | 75.2% |
| Operating Margin | 16.3% | 16.3% | 12.6% | 15.6% | 24.5% | 30.4% | 21.0% | 19.7% | 27.4% | 33.8% | 29.1% |
| Net Profit Margin | 11.5% | 11.5% | 11.6% | 13.5% | 21.4% | 27.0% | 21.7% | 28.1% | 27.2% | 23.1% | 27.1% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 7.6% | 7.6% | 7.0% | 7.7% | 15.0% | 20.8% | 13.5% | 16.4% | 19.7% | 17.2% | 16.1% |
| ROA | 5.7% | 5.7% | 5.3% | 5.7% | 10.9% | 14.7% | 9.6% | 12.8% | 17.0% | 15.2% | 14.9% |
| ROIC | 9.0% | 9.0% | 6.2% | 7.3% | 14.4% | 20.6% | 11.5% | 9.6% | 16.5% | 20.7% | 13.9% |
| ROCE | 8.9% | 8.9% | 6.2% | 7.2% | 13.7% | 18.1% | 9.9% | 9.6% | 18.6% | 24.1% | 17.1% |
CGNX Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
Cognex Corporation carries a Debt/EBITDA ratio of 0.4x, which is very conservative (87% below the sector average of 2.9x). The company holds a net cash position — cash of $263M exceeds total debt of $77M, providing substantial financial flexibility for buybacks, acquisitions, or weathering downturns.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.05 | 0.05 | 0.05 | 0.05 | 0.03 | 0.02 | 0.02 | 0.01 | — | — | — |
| Debt / EBITDA | 0.40 | 0.40 | 0.48 | 0.52 | 0.15 | 0.08 | 0.13 | 0.11 | — | — | — |
| Net Debt / Equity | — | -0.12 | -0.08 | -0.08 | -0.10 | -0.11 | -0.19 | -0.11 | -0.10 | -0.10 | -0.08 |
| Net Debt / EBITDA | -0.96 | -0.96 | -0.78 | -0.81 | -0.53 | -0.48 | -1.23 | -0.92 | -0.45 | -0.39 | -0.47 |
| Debt / FCF | — | -0.79 | -0.86 | -1.38 | -0.63 | -0.54 | -1.06 | -0.66 | -0.58 | -0.54 | -0.47 |
| Interest Coverage | — | — | — | — | — | — | — | — | — | — | — |
Net cash position: cash ($263M) exceeds total debt ($77M)
CGNX Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
Cognex Corporation's current ratio of 3.80x is well above the 1.0 safety threshold, indicating strong short-term liquidity with ample room to cover current liabilities. The quick ratio of 3.05x is notably lower than the current ratio, indicating a significant portion of current assets is tied up in inventory. The current ratio has declined from 4.47x to 3.80x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 3.80 | 3.80 | 3.62 | 4.47 | 3.82 | 3.39 | 4.55 | 5.04 | 8.54 | 5.59 | 8.00 |
| Quick Ratio | 3.05 | 3.05 | 2.69 | 3.40 | 3.17 | 2.79 | 4.09 | 4.54 | 7.63 | 4.99 | 7.59 |
| Cash Ratio | 1.84 | 1.84 | 1.45 | 2.19 | 2.13 | 1.72 | 2.81 | 3.42 | 5.86 | 3.59 | 6.40 |
| Asset Turnover | — | 0.49 | 0.46 | 0.42 | 0.51 | 0.52 | 0.45 | 0.38 | 0.63 | 0.59 | 0.51 |
| Inventory Turnover | 2.39 | 2.39 | 1.83 | 1.46 | 2.32 | 2.45 | 3.39 | 3.15 | 2.47 | 2.76 | 4.86 |
| Days Sales Outstanding | — | 60.09 | 58.44 | 50.80 | 46.29 | 47.28 | 59.10 | 54.44 | 57.71 | 60.43 | 39.74 |
CGNX Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Cognex Corporation returns 1.9% to shareholders annually — split between a 0.5% dividend yield and 1.4% buyback yield. A payout ratio of 47.7% is moderate and appears sustainable, balancing shareholder returns with reinvestment capacity. The earnings yield of 1.0% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 0.5% | 0.9% | 0.8% | 0.7% | 0.6% | 0.3% | 2.8% | 0.4% | 0.5% | 0.3% | 0.5% |
| Payout Ratio | 47.7% | 47.7% | 49.3% | 43.3% | 21.3% | 15.5% | 221.6% | 17.2% | 14.5% | 16.4% | 17.5% |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 1.0% | 1.9% | 1.7% | 1.6% | 2.6% | 2.0% | 1.2% | 2.1% | 3.2% | 1.6% | 2.7% |
| FCF Yield | 2.1% | 3.9% | 2.2% | 1.2% | 2.7% | 2.1% | 1.6% | 2.4% | 2.7% | 1.8% | 3.1% |
| Buyback Yield | 1.4% | 2.5% | 1.1% | 1.1% | 2.5% | 1.2% | 0.4% | 0.6% | 3.0% | 1.1% | 0.9% |
| Total Shareholder Yield | 1.9% | 3.4% | 1.9% | 1.8% | 3.0% | 1.5% | 3.1% | 1.0% | 3.4% | 1.4% | 1.3% |
| Shares Outstanding | — | $169M | $173M | $173M | $175M | $180M | $177M | $175M | $177M | $180M | $174M |
Peer Comparison
Compare CGNX with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 CGNXYou | $11B | 97.2 | 56.1 | 46.6 | 66.9% | 16.3% | 7.6% | 9.0% | 0.4 |
 KEYS | $62B | 74.5 | 51.9 | 48.7 | 62.1% | 17.6% | 15.4% | 11.5% | 2.4 |
 COHU | $3B | -43.6 | — | 303.8 | 34.5% | -13.3% | -9.0% | -5.7% | — |
 VIAV | $11B | 314.5 | 83.7 | 176.0 | 56.8% | 6.5% | 4.8% | 5.5% | 5.2 |
 NOVT | $6B | 105.6 | 30.7 | 114.2 | 41.6% | 11.9% | 5.2% | 7.4% | 1.9 |
 KLIC | $6B | 9999.0 | 420.4 | 66.2 | 42.5% | -0.5% | 0.0% | -0.3% | 2.6 |
 MKSI | $27B | 93.0 | 34.5 | 55.0 | 40.4% | 14.4% | 11.7% | 6.5% | 5.2 |
 CEVA | $1B | -113.0 | — | 2684.4 | 87.1% | -10.4% | -3.5% | -2.9% | — |
 TRMB | $12B | 28.1 | 16.2 | 87.4 | 68.3% | 16.9% | 7.3% | 6.8% | 1.8 |
 ROK | $53B | 61.8 | 32.3 | 39.2 | 48.1% | 17.1% | 23.5% | 15.1% | 2.1 |
 EMR | $84B | 37.3 | 19.1 | 31.6 | 52.8% | 19.6% | 9.6% | 8.2% | 2.7 |
| Technology Median | — | 29.0 | 16.7 | 19.2 | 48.8% | 0.2% | 1.6% | 2.7% | 2.9 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
Download Financial Ratios Data
Includes 30+ ratios · 30 years · Updated daily
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CGNX — Frequently Asked Questions
Quick answers to the most common questions about buying CGNX stock.
What is Cognex Corporation's P/E ratio?
Cognex Corporation's current P/E ratio is 97.2x. The historical average is 40.2x. This places it at the 100th percentile of its historical range.
What is Cognex Corporation's EV/EBITDA?
Cognex Corporation's current EV/EBITDA is 56.1x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 29.6x.
What is Cognex Corporation's ROE?
Cognex Corporation's return on equity (ROE) is 7.6%. The historical average is 11.6%.
Is CGNX stock overvalued?
Based on historical data, Cognex Corporation is trading at a P/E of 97.2x. This is at the 100th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What is Cognex Corporation's dividend yield?
Cognex Corporation's current dividend yield is 0.49% with a payout ratio of 47.7%.
What are Cognex Corporation's profit margins?
Cognex Corporation has 66.9% gross margin and 16.3% operating margin. Operating margin between 10-20% is typical for established companies.
How much debt does Cognex Corporation have?
Cognex Corporation's Debt/EBITDA ratio is 0.4x, indicating low leverage. A ratio below 2x is generally considered financially healthy.