CGNX
Cognex Corporation
CGNX's fundamentals are strong and it looks cheap: trading at 35x earnings, below its usual 56x. Analysts expect strong earnings growth.
CGNX Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| Strong | |
| Strong |
CGNX's revenue, profitability, cash flow and balance sheet are all currently healthy.
CGNX PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 26x | $50.77 | — |
| Current | 35x | $50.77 | — |
| Cheap | 40x | $57.69 | +14% |
| Fair | 55x | $79.70 | +57% |
| Expensive | 79x | $113 | +123% |
Historical ranges are pointers, not guarantees.
CGNX's PE is in its cheap range at 35x. If earnings grow as analysts expect, today's price would be 26x next year's earnings.
CGNX Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Growth | |
| Strongly improving | |
| Limited | |
| Moderate |
Analysts expect earnings and revenue growth for CGNX, with profitability improving.
CGNX Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $1.94 | +34% |
| Q3 2026 | $1.44 | +122% |
| Q2 2026 | $1.04 | +44% |
| Q1 2026 | $0.85 | +23% |
| Q4 2025 | $0.68 | +9.7% |
| Q3 2025 | $0.65 | +27% |
| Q2 2025 | $0.72 | +60% |
| Q1 2025 | $0.69 | +21% |
| Q4 2024 | $0.62 | -4.6% |
CGNX earned $1.44 per share over the past year, up 122% from the year before.
CGNX Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $313.4M | +13% |
| Q2 2026 | $291.3M | +17% |
| Q1 2026 | $268.4M | +24% |
| Q4 2025 | $252.3M | +9.9% |
| Q3 2025 | $276.9M | +18% |
| Q2 2025 | $249.1M | +4.1% |
| Q1 2025 | $216M | +2.5% |
| Q4 2024 | $229.7M | +17% |
CGNX's revenue has grown year over year for nine quarters in a row: $313M last quarter, up 13% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 32% | +11 points |
| Q2 2026 | 29% | +12 points |
| Q1 2026 | 22% | +10 points |
| Q4 2025 | 14% | +0.6 points |
| Q3 2025 | 21% | +7.4 points |
| Q2 2025 | 17% | +1.4 points |
| Q1 2025 | 12% | +5.3 points |
| Q4 2024 | 13% | +7 points |
CGNX's operating margin was 32% last quarter, up 11 points from the same quarter a year ago.
CGNX Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $103.8M | +21% |
| Q2 2026 | $67.6M | +67% |
| Q1 2026 | $42.3M | +11% |
| Q4 2025 | $72.3M | +47% |
| Q3 2025 | $86M | +66% |
| Q2 2025 | $40.4M | +74% |
| Q1 2025 | $38M | +297% |
| Q4 2024 | $49.3M | +560% |
CGNX's free cash flow has been positive every quarter for seven years: $286M over the past year, up 34% from the year before.
CGNX Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.6% | +1M shares |
| 1 year | +1% | +1.7M shares |
| 3 years | -1.3% | -2.3M shares |
| 5 years | -5.2% | -9.3M shares |
| Available history | -2.4% | -4.2M shares |
CGNX has 171M diluted shares, up 1% from a year ago, despite $130M in buybacks over the past year.
| Quarter | Spent |
|---|---|
| Q3 2026 | — |
| Q2 2026 | $6.2M |
| Q1 2026 | $99M |
| Q4 2025 | $25M |
| Q3 2025 | $24M |
| Q2 2025 | — |
| Q1 2025 | $102.2M |
| Q4 2024 | $43.2M |
CGNX spent $130M buying back its own shares over the past year, down 23% from the year before.
CGNX Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -2.2x | Net Cash |
| Q2 2026 | -1.1x | Net Cash |
| Q1 2026 | -1.1x | Net Cash |
| Q4 2025 | -1.4x | Net Cash |
| Q3 2025 | -1.3x | Net Cash |
| Q2 2025 | -1.1x | Net Cash |
| Q1 2025 | -0.9x | Net Cash |
| Q4 2024 | -1.3x | Net Cash |
CGNX has more cash than debt.
CGNX Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 41.1 | Neutral |
| Stochastic | 13.4 | Oversold |
CGNX's weekly RSI is 41 (neutral) and its Stochastic is 13 (oversold).
CGNX PE vs Technology Sector
| Metric | CGNX | Sector median | Relative |
|---|---|---|---|
| PE | 35x | 28x | 27% above |
| PE % | 8 | 35 | 27 pts below |
CGNX is trading at 35x earnings, a 27% premium to the Technology sector's median of 28x.
CGNX Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $56.4 | 9.9% below |
| 20 week MA | $60.9 | 17% below |
| 50 week MA | $55.1 | 7.8% below |
| 100 week MA | $45.6 | 11% above |
| 200 week MA | $44.9 | 13% above |
CGNX has pulled back, but its long-term trend is still up: it's below its 8-, 20- and 50-week averages, but 13% above its 200-week average.
CGNX Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $56.2 | $80.7 | +44% |
| 2021 | $80.7 | $77.6 | -3.9% |
| 2022 | $77.6 | $47.4 | -39% |
| 2023 | $47.4 | $41.7 | -12% |
| 2024 | $41.7 | $36.0 | -14% |
| 2025 | $36.0 | $36.6 | +1.4% |
| 2026 YTD | $36.6 | $50.8 | +39% |
CGNX is up 39% so far in 2026, after finishing lower in four of the previous six years.