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Primary reporting period: 2025-12-31 · Research updated Oct 12, 2026. A research update is not a new financial filing.
Who they are
Cognex Corporation specializes in machine vision technology, offering solutions that interpret and process visual data to streamline and automate production and logistics operations globally. Their advanced vision systems enable the automated manufacturing and tracking of individual components or finished goods, such as mobile devices, pharmaceutical containers, and automotive parts. This is achieved by precisely locating, recognizing, examining, and gauging items throughout their journey from production to delivery.
How they make money
Cognex generates revenue primarily through the design, development, and sale of machine vision systems, software, and sensors that automate manufacturing and logistics processes. The company sells its products globally through a direct sales force and a network of distributors and system integrators, focusing on helping customers improve production quality, increase throughput, and ensure traceability.
Products & services
Machine vision systems, AI-powered vision software (including the OneVision platform), DataMan barcode readers, barcode verifiers, and various vision accessories.
Brands & revenue mix
DataMan
Product line including fixed-mount and handheld barcode readers and verifiers.
Separate brand revenue is not available in this research.Source
OneVision
Cloud-based platform for building, training, and scaling AI-powered vision applications.
Separate brand revenue is not available in this research.Source
In-Sight
Product portfolio for machine vision applications.
Separate brand revenue is not available in this research.Source
Revenue share is not unit sales or a best-seller ranking. Parent brands and included sub-brands can overlap; do not add overlapping rows.
Calculated from reported segment revenue. Check the source period and revenue basis before comparing shares. Categories can overlap and may not add to 100%.
Calculated from reported segment revenue. Check the source period and revenue basis before comparing shares. Categories can overlap and may not add to 100%.
Overall investment score · Quality, value, risk and opportunity
36
Poor
PoorElite
View category scores →
Company Quality
How good is the actual business—regardless of today’s stock price?
65
Fair
Financial Strength
67
Business Quality / Moat
43
Management
96
Growth Quality
44
Risk / Durability
87
Weak Company · Expensive Stock
Uses financial strength, moat, management, growth quality and durability. It excludes share price, P/E, market cap, intrinsic value and margin of safety.
Opportunity
Opportunity Score · How does the current price compare with estimated value?
38
Avoid
Based on current valuation, company quality, recent trends, and available market signals.
View score details →
Model Outlook
12-month model · What does the model think happens next?
46/100
Building Historical Record
Model Score 46/100 — estimates relative performance potential, distinct from the overall Wall Street Score and the separate Company Quality score.
Probability unavailable — the model has not produced a calibrated probability yet.
Click for full breakdown →
WSS View
The quick read
The overall Wall Street Score is low across its combined quality, valuation and risk inputs. This can reflect an expensive share price, business weaknesses, or both; check Company Quality and the category breakdown before drawing a conclusion.
At today’s price, the WSS valuation framework currently reads as less attractive based on the available valuation and market data.
The model outlook is currently cautious.
What we like
•Recent buyback activity is present
What to watch
•M&A headline · Sep 22, 2026
•Valuation is a weaker part of the current profile
•Revenue fundamentals are weak
•Asset quality is a weaker factor
Company-specific research
Questions worth answering for CGNX
Research inputs 100% complete
These questions are generated from this company's current financial and score data so the page adds context instead of treating the headline score as a stand-alone conclusion.
•Can CGNX maintain its current revenue growth rate and improve the amount of that revenue that turns into earnings and cash?
•Is CGNX's positive free cash flow repeatable, or is the current level being helped by temporary working-capital or spending changes?
•How is CGNX likely to use its cash advantage: reinvestment, acquisitions, debt reduction, dividends or buybacks?
•What future growth or profitability would be needed to justify CGNX's current valuation?
Two different market-behavior signals. Momentum measures direction and trend strength. Volatility measures how large and unstable the price moves are, regardless of direction.
A high momentum score means price has been trending upward with confirming short- and medium-term strength. A low score means downward or weakening momentum.
Volatility = How violently is it moving?
A high volatility score means larger, less stable price swings. It can happen while a stock is rising or falling, so high volatility is not automatically bullish or bearish.
Important: the volatility score above is based on realized price volatility. Implied volatility (IV) comes from options prices and represents the market's expected future movement. Wall Street Score will keep IV separate and will only display it when a verified options-chain feed is available.
Notices for CGNX
Detected from reported data — verify before acting.
Dividend history reported
Dividend payments are recorded. Review the dates and regular/special classification below; past payments do not guarantee future dividends.
Historical repurchase activity
Reported cash flows or share-count measures indicate past repurchase activity. This does not verify an active buyback authorization or future purchases.
M&A headline · Sep 22, 2026
Cognex Acquires RealSense for $500M to Expand Robotic Vision Platform — This is a provider-linked headline, not an independently confirmed event. Check the article and company filings for the subject, proposed/completed status, and subsequent updates.
Cognex to Acquire RealSense, Expanding Machine Vision Leadership into High-Growth Robotic Perception Market — This is a provider-linked headline, not an independently confirmed event. Check the article and company filings for the subject, proposed/completed status, and subsequent updates.
+Growth opportunities may come from revenue expansion, margin improvement, new products, market-share gains, and stronger cash flow.
+Global market leadership in industrial machine vision.
+Advanced AI-enabled vision technology and software capabilities.
+Positive free cash flow may provide capacity to invest in growth.
Potential downside factors
−Key risks may include competition, margin pressure, debt levels, valuation risk, and changes in demand within the Hardware, Equipment & Parts industry.
−Geopolitical and trade uncertainty impacting key markets like automotive.
−Dependence on cyclical end-user industries such as consumer electronics.
These research factors come from saved company research and financial data, not community votes. They are starting points to verify against filings, not buy or sell recommendations.
Create a free account to make a call.
Scores
Click any score for full breakdown
Wall Street Score
Weak36/ 100
Weak (0–50)Fair (51–71)Strong (72+)
Debt
Fair
68
Debt Cost—
Debt Reduction YoY-9.1%
Debt / Equity0.05x
Tap for breakdown →
Revenue
Poor
26
Revenue YoY9.5%
Revenue CAGR9.0%
Net Margin16.1%
Tap for breakdown →
Asset
Poor
23
Asset Growth YoY1.2%
Liquidation/Share$9.62
Net Assets/MCap0.21x
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Capital
Poor
16
Earnings Yield1.7%
Buyback Yield1.2%
Debt Cost—
Tap for breakdown →
Management
Elite
96
ROIC8.1%
ROE10.7%
ROA8.0%
Tap for breakdown →
Moat
Weak
43
EPS Growth-5.9%
FCF/Share Growth19.9%
Rev/Share Growth5.8%
Tap for breakdown →
Valuation
Poor
0
Intrinsic Value$8.93
Value Reference$5.36
MOS-536.1%
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Buffett
Weak
47
Revenue26
Moat43
Valuation0
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MOS
Poor
0
MOS %-536.1%
Value Reference$5.36
Deep Discount Reference$3.57
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Financial
Poor
37
Interest Coverage—
ROIC8.1%
FCF Yield2.3%
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Master
Poor
32
Financial37
Valuation0
Debt68
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Resilience
Strong
76
Survival Years0.9 yrs
Current Ratio3.80x
FCF Margin23.8%
Tap for breakdown →
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Score Changes
5 historical score records available
Previous Score
36
Sep 14, 2026
Change
-0.1
points
Current Score
36
Oct 1, 2026
Category Changes
Revenue0
Debt0
Assets-0.1
Capital0
Management0
Moat-1.7
Valuation0
Buffett-0.3
CGNX decreased 0.1 points because some fundamentals weakened.
Projected Score
Projected Score
45
Projected Change
+9.7 points
Preliminary comparable-period financial changes suggest improvement of approximately 9.7 points. This is a projected estimate, not the official WallStreetScore.
Monetary values in USD. Share counts in raw units.
Income StatementBalance SheetCash Flow
AnnualQuarterlyTTM + Annual
All rows
Free includes 3 annual periods plus available TTM; Premium includes up to 10 annual periods. History depends on available company filings. Swipe the table horizontally to see older periods. A dash means unavailable, not zero.
Line Item
TTM
2025
2024
2023
2022
2021
2020
2019
2018
2017
2016
Revenue
$1.09B
$994.4M
$914.5M
$837.5M
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Cost of Revenue
$339.0M
$329.0M
$288.7M
$236.3M
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Gross Profit
$749.9M
$665.4M
$625.8M
$601.2M
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Research & Development
$140.6M
$139.0M
$139.8M
$139.4M
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SG&A Expenses
$370.9M
$363.9M
$370.9M
$339.1M
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Operating Expenses
$511.5M
$502.8M
$510.7M
$470.5M
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EBITDA
$279.0M
$213.6M
$164.2M
$144.6M
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Operating Income
$238.4M
$162.6M
$115.1M
$130.7M
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Interest Expense
$0.00
$0.00
$0.00
$0.00
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Income Before Tax
$258.0M
$182.8M
$131.5M
$135.3M
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Income Tax Expense
$83.2M
$68.4M
$25.3M
$22.1M
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Net Income
$174.8M
$114.4M
$106.2M
$113.2M
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Basic EPS
$1.05
$0.68
$0.62
$0.66
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Basic Shares
167M
168M
171M
172M
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Diluted Shares
170M
169M
173M
173M
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Upgrade to Premium for up to 10 annual periods, where available.
Estimated earnings date:A future estimated earnings date is not currently available.
Jul 5, 2026Q2FY2026
Revenue
$291.3M
Estimate unavailable.
Revenue Beat/Miss
Not available (no estimate stored)
EPS
$0.43
Estimate unavailable.
EPS Beat/Miss
Not available (no estimate stored)
Debt Change
-12.9%
Cash Change
+68.7%
Margin Change
+8.7 pp
Debt and cash show percentage changes versus the comparison period; margin shows the change in percentage points (pp). These are company-wide changes, not per-share amounts.
Financial Changes Since Prior Period
What Improved
Margins expanded
Cash position grew
Debt reduced
Potential Score Impact
Positive indicators included revenue growth, EPS growth, cash levels, debt levels. These factors may support or pressure the Revenue, Management, Financial, and Debt categories; this summary does not claim that the stored scores changed.
Stored Earnings Analysis
Revenue increased 16.9%. EPS increased 79.2%. Cash increased 68.7%. Total debt declined 12.9%. Net income margin improved by 8.7 percentage points.
Earnings-Call Transcript
Earnings-call transcript analysis is not currently available.
These results may influence future scores when the next evaluation is completed.
Upgrade to Premium to unlock all earnings history.View plans
Government disclosed trading activity is available on the Smart Money directory. Filings may be delayed and may not represent complete current holdings.
Dividend HistoryShare
Dividend History
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Predictions & Historical PerformanceShare
Conservative Projected Values
3 Years
$———.——
Premium
5 Years
$———.——
Premium
10 Years
$———.——
Premium
Conservative Projection Rate
——%
Premium
Conservative Projected Values — price projections derived from actual 10-year adjusted historical returns, conservatively adjusted and capped at 8% annually. These are distinct from the Outperformance Model Score and WallStreetScore.
Conservative Projected Values
Premium unlocks the 3-year, 5-year, and 10-year conservative projected values with full calculation breakdowns based on actual historical returns.
Premium includes stored forecasts and any available evaluated results. Completed results, win rates and calibrated probabilities are shown only when supported records exist; access does not create historical outcomes.