COGNEX CORP (CGNX) Stock Fundamental Analysis
NASDAQ:CGNX - US1924221039 - Common Stock
43.97 USD
-0.3 (-0.68%)
44.27 USD
+0.3 (+0.68%)
We assign a fundamental rating of 6 out of 10 to CGNX. CGNX was compared to 125 industry peers in the Electronic Equipment, Instruments & Components industry. CGNX is in great health and has no worries on liquidiy or solvency at all, but the profibility rating is only average. CGNX is valied quite expensively at the moment, while it does show a decent growth rate.
1. Profitability
1.1 Basic Checks
In the past year CGNX was profitable.
CGNX had a positive operating cash flow in the past year.
CGNX had positive earnings in each of the past 5 years.
In the past 5 years CGNX always reported a positive cash flow from operatings.
1.2 Ratios
Looking at the Return On Assets, with a value of 6.09%, CGNX is in the better half of the industry, outperforming 80.00% of the companies in the same industry.
With a decent Return On Equity value of 8.10%, CGNX is doing good in the industry, outperforming 68.80% of the companies in the same industry.
CGNX has a better Return On Invested Capital (5.98%) than 64.80% of its industry peers.
The Average Return On Invested Capital over the past 3 years for CGNX is in line with the industry average of 9.48%.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 6.09% | ||
| ROE | 8.1% | ||
| ROIC | 5.98% |
ROA(3y)7.31%
ROA(5y)9.14%
ROE(3y)9.83%
ROE(5y)12.61%
ROIC(3y)7.69%
ROIC(5y)9.5%
1.3 Margins
CGNX's Profit Margin of 13.13% is amongst the best of the industry. CGNX outperforms 90.40% of its industry peers.
In the last couple of years the Profit Margin of CGNX has declined.
CGNX has a Operating Margin of 14.19%. This is amongst the best in the industry. CGNX outperforms 86.40% of its industry peers.
In the last couple of years the Operating Margin of CGNX has declined.
With an excellent Gross Margin value of 67.72%, CGNX belongs to the best of the industry, outperforming 97.60% of the companies in the same industry.
In the last couple of years the Gross Margin of CGNX has declined.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 14.19% | ||
| PM (TTM) | 13.13% | ||
| GM | 67.72% |
OM growth 3Y-25.46%
OM growth 5Y-8.53%
PM growth 3Y-24.51%
PM growth 5Y-16.2%
GM growth 3Y-2.25%
GM growth 5Y-1.51%
2. Health
2.1 Basic Checks
With a Return on Invested Capital (ROIC) below the Cost of Capital (WACC), CGNX is destroying value.
Compared to 1 year ago, CGNX has less shares outstanding
CGNX has less shares outstanding than it did 5 years ago.
CGNX has no outstanding debt. Therefor its Debt/Equity and Debt/FCF ratios are 0 and belong to the best of the industry.
2.2 Solvency
An Altman-Z score of 10.15 indicates that CGNX is not in any danger for bankruptcy at the moment.
CGNX's Altman-Z score of 10.15 is amongst the best of the industry. CGNX outperforms 89.60% of its industry peers.
CGNX has no outstanding debt. Therefor its Debt/Equity and Debt/FCF ratios are 0 and belong to the best of the industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0 | ||
| Debt/FCF | 0 | ||
| Altman-Z | 10.15 |
ROIC/WACC0.64
WACC9.37%
2.3 Liquidity
A Current Ratio of 3.29 indicates that CGNX has no problem at all paying its short term obligations.
With a decent Current ratio value of 3.29, CGNX is doing good in the industry, outperforming 68.80% of the companies in the same industry.
CGNX has a Quick Ratio of 2.53. This indicates that CGNX is financially healthy and has no problem in meeting its short term obligations.
CGNX has a Quick ratio of 2.53. This is in the better half of the industry: CGNX outperforms 68.00% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 3.29 | ||
| Quick Ratio | 2.53 |
3. Growth
3.1 Past
The Earnings Per Share has grown by an impressive 32.79% over the past year.
CGNX shows a decrease in Earnings Per Share. Measured over the last years, the EPS has been decreasing by -2.03% yearly.
The Revenue has grown by 10.14% in the past year. This is quite good.
CGNX shows a small growth in Revenue. Measured over the last years, the Revenue has been growing by 4.74% yearly.
EPS 1Y (TTM)32.79%
EPS 3Y-20.81%
EPS 5Y-2.03%
EPS Q2Q%8.7%
Revenue 1Y (TTM)10.14%
Revenue growth 3Y-4.11%
Revenue growth 5Y4.74%
Sales Q2Q%4.1%
3.2 Future
CGNX is expected to show a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 28.85% yearly.
Based on estimates for the next years, CGNX will show a quite strong growth in Revenue. The Revenue will grow by 9.74% on average per year.
EPS Next Y26.18%
EPS Next 2Y26.52%
EPS Next 3Y24.65%
EPS Next 5Y28.85%
Revenue Next Year6.76%
Revenue Next 2Y8.19%
Revenue Next 3Y8.6%
Revenue Next 5Y9.74%
3.3 Evolution
The EPS growth rate is accelerating: in the next years the growth will be better than in the last years.
The Revenue growth rate is accelerating: in the next years the growth will be better than in the last years.
4. Valuation
4.1 Price/Earnings Ratio
The Price/Earnings ratio is 54.28, which means the current valuation is very expensive for CGNX.
CGNX's Price/Earnings ratio is in line with the industry average.
When comparing the Price/Earnings ratio of CGNX to the average of the S&P500 Index (26.84), we can say CGNX is valued expensively.
With a Price/Forward Earnings ratio of 37.12, CGNX can be considered very expensive at the moment.
The rest of the industry has a similar Price/Forward Earnings ratio as CGNX.
CGNX is valuated expensively when we compare the Price/Forward Earnings ratio to 22.48, which is the current average of the S&P500 Index.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 54.28 | ||
| Fwd PE | 37.12 |
4.2 Price Multiples
Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of CGNX is on the same level as its industry peers.
CGNX's Price/Free Cash Flow ratio is a bit cheaper when compared to the industry. CGNX is cheaper than 64.80% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 41.1 | ||
| EV/EBITDA | 43.02 |
4.3 Compensation for Growth
The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates an expensive valuation of the company.
CGNX has a very decent profitability rating, which may justify a higher PE ratio.
A more expensive valuation may be justified as CGNX's earnings are expected to grow with 24.65% in the coming years.
PEG (NY)2.07
PEG (5Y)N/A
EPS Next 2Y26.52%
EPS Next 3Y24.65%
5. Dividend
5.1 Amount
With a yearly dividend of 0.73%, CGNX is not a good candidate for dividend investing.
Compared to an average industry Dividend Yield of 1.48, CGNX pays a better dividend. On top of this CGNX pays more dividend than 84.80% of the companies listed in the same industry.
Compared to an average S&P500 Dividend Yield of 2.32, CGNX's dividend is way lower than the S&P500 average.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 0.73% |
5.2 History
The dividend of CGNX is nicely growing with an annual growth rate of 8.39%!
CGNX has paid a dividend for at least 10 years, which is a reliable track record.
CGNX has not decreased its dividend in the last 3 years.
Dividend Growth(5Y)8.39%
Div Incr Years3
Div Non Decr Years3
5.3 Sustainability
43.88% of the earnings are spent on dividend by CGNX. This is a bit on the high side, but may be sustainable.
The dividend of CGNX is growing, but earnings are growing more, so the dividend growth is sustainable.
DP43.88%
EPS Next 2Y26.52%
EPS Next 3Y24.65%
43.97
-0.3 (-0.68%)
Chartmill FA Rating
GICS SectorInformation Technology
GICS IndustryGroupTechnology Hardware & Equipment
GICS IndustryElectronic Equipment, Instruments & Components
Earnings (Last)
Earnings (Next)
Inst Owners101.42%
Inst Owner Change-0.67%
Ins Owners0.27%
Ins Owner Change0.02%
Market Cap7.38B
Analysts76.15
Price Target47.27 (7.51%)
Short Float %3.66%
Short Ratio3.03
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 0.73% |
Yearly Dividend0.31
Dividend Growth(5Y)8.39%
DP43.88%
Div Incr Years3
Div Non Decr Years3
Ex-Date
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)11.3%
Min EPS beat(2)3.71%
Max EPS beat(2)18.89%
EPS beat(4)4
Avg EPS beat(4)13.13%
Min EPS beat(4)3.71%
Max EPS beat(4)26.05%
EPS beat(8)8
Avg EPS beat(8)15.9%
EPS beat(12)11
Avg EPS beat(12)18.09%
EPS beat(16)13
Avg EPS beat(16)14.9%
Revenue beat(2)0
Avg Revenue beat(2)-0.67%
Min Revenue beat(2)-0.78%
Max Revenue beat(2)-0.55%
Revenue beat(4)1
Avg Revenue beat(4)-0.13%
Min Revenue beat(4)-1.24%
Max Revenue beat(4)2.05%
Revenue beat(8)4
Avg Revenue beat(8)0.37%
Revenue beat(12)6
Avg Revenue beat(12)0.55%
Revenue beat(16)8
Avg Revenue beat(16)0.52%
PT rev (1m)23.25%
PT rev (3m)25.88%
EPS NQ rev (1m)18.37%
EPS NQ rev (3m)11.09%
EPS NY rev (1m)7.21%
EPS NY rev (3m)7.52%
Revenue NQ rev (1m)4.95%
Revenue NQ rev (3m)2.03%
Revenue NY rev (1m)1.37%
Revenue NY rev (3m)1.15%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 54.28 | ||
| Fwd PE | 37.12 | ||
| P/S | 7.94 | ||
| P/FCF | 41.1 | ||
| P/OCF | 38.69 | ||
| P/B | 4.9 | ||
| P/tB | 7.26 | ||
| EV/EBITDA | 43.02 |
EPS(TTM)0.81
EY1.84%
EPS(NY)1.18
Fwd EY2.69%
FCF(TTM)1.07
FCFY2.43%
OCF(TTM)1.14
OCFY2.58%
SpS5.54
BVpS8.97
TBVpS6.05
PEG (NY)2.07
PEG (5Y)N/A
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 6.09% | ||
| ROE | 8.1% | ||
| ROCE | 7.28% | ||
| ROIC | 5.98% | ||
| ROICexc | 6.84% | ||
| ROICexgc | 9.9% | ||
| OM | 14.19% | ||
| PM (TTM) | 13.13% | ||
| GM | 67.72% | ||
| FCFM | 19.32% |
ROA(3y)7.31%
ROA(5y)9.14%
ROE(3y)9.83%
ROE(5y)12.61%
ROIC(3y)7.69%
ROIC(5y)9.5%
ROICexc(3y)9.56%
ROICexc(5y)11.82%
ROICexgc(3y)12.73%
ROICexgc(5y)15.09%
ROCE(3y)9.35%
ROCE(5y)11.55%
ROICexcg growth 3Y-25.69%
ROICexcg growth 5Y-4.75%
ROICexc growth 3Y-29.85%
ROICexc growth 5Y-7.09%
OM growth 3Y-25.46%
OM growth 5Y-8.53%
PM growth 3Y-24.51%
PM growth 5Y-16.2%
GM growth 3Y-2.25%
GM growth 5Y-1.51%
F-Score7
Asset Turnover0.46
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0 | ||
| Debt/FCF | 0 | ||
| Debt/EBITDA | 0 | ||
| Cap/Depr | 34.24% | ||
| Cap/Sales | 1.2% | ||
| Interest Coverage | 250 | ||
| Cash Conversion | 115.96% | ||
| Profit Quality | 147.18% | ||
| Current Ratio | 3.29 | ||
| Quick Ratio | 2.53 | ||
| Altman-Z | 10.15 |
F-Score7
WACC9.37%
ROIC/WACC0.64
Cap/Depr(3y)84%
Cap/Depr(5y)75.71%
Cap/Sales(3y)2.12%
Cap/Sales(5y)1.9%
Profit Quality(3y)103.13%
Profit Quality(5y)109.22%
High Growth Momentum
Growth
EPS 1Y (TTM)32.79%
EPS 3Y-20.81%
EPS 5Y-2.03%
EPS Q2Q%8.7%
EPS Next Y26.18%
EPS Next 2Y26.52%
EPS Next 3Y24.65%
EPS Next 5Y28.85%
Revenue 1Y (TTM)10.14%
Revenue growth 3Y-4.11%
Revenue growth 5Y4.74%
Sales Q2Q%4.1%
Revenue Next Year6.76%
Revenue Next 2Y8.19%
Revenue Next 3Y8.6%
Revenue Next 5Y9.74%
EBIT growth 1Y45.87%
EBIT growth 3Y-28.52%
EBIT growth 5Y-4.2%
EBIT Next Year52.31%
EBIT Next 3Y31.77%
EBIT Next 5Y22.11%
FCF growth 1Y-4.75%
FCF growth 3Y-23.43%
FCF growth 5Y-10.36%
OCF growth 1Y-7.91%
OCF growth 3Y-22%
OCF growth 5Y-10.06%