COGNEX CORP (CGNX) Stock Fundamental Analysis
USA - NASDAQ:CGNX - US1924221039 - Common Stock
45.52 USD
-0.91 (-1.96%)
45.12 USD
-0.4 (-0.88%)
Taking everything into account, CGNX scores 6 out of 10 in our fundamental rating. CGNX was compared to 124 industry peers in the Electronic Equipment, Instruments & Components industry. CGNX has an excellent financial health rating, but there are some minor concerns on its profitability. CGNX is quite expensive at the moment. It does show a decent growth rate.
1. Profitability
1.1 Basic Checks
CGNX had positive earnings in the past year.
In the past year CGNX had a positive cash flow from operations.
CGNX had positive earnings in each of the past 5 years.
Each year in the past 5 years CGNX had a positive operating cash flow.
1.2 Ratios
The Return On Assets of CGNX (6.09%) is better than 79.84% of its industry peers.
CGNX's Return On Equity of 8.10% is fine compared to the rest of the industry. CGNX outperforms 68.55% of its industry peers.
With a decent Return On Invested Capital value of 5.98%, CGNX is doing good in the industry, outperforming 64.52% of the companies in the same industry.
Measured over the past 3 years, the Average Return On Invested Capital 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
The Profit Margin of CGNX (13.13%) is better than 90.32% of its industry peers.
CGNX's Profit Margin has declined in the last couple of years.
With an excellent Operating Margin value of 14.19%, CGNX belongs to the best of the industry, outperforming 87.10% of the companies in the same industry.
CGNX's Operating Margin has declined in the last couple of years.
CGNX has a Gross Margin of 67.72%. This is amongst the best in the industry. CGNX outperforms 97.58% of its industry peers.
CGNX's Gross Margin has declined in the last couple of years.
| 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
CGNX has a Return on Invested Capital (ROIC), which is below the Cost of Capital (WACC), which means it is destroying value.
The number of shares outstanding for CGNX has been reduced compared to 1 year ago.
The number of shares outstanding for CGNX has been reduced compared to 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
CGNX has an Altman-Z score of 10.65. This indicates that CGNX is financially healthy and has little risk of bankruptcy at the moment.
With an excellent Altman-Z score value of 10.65, CGNX belongs to the best of the industry, outperforming 90.32% of the companies in the same industry.
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 | 10.65 |
ROIC/WACC0.64
WACC9.38%
2.3 Liquidity
CGNX has a Current Ratio of 3.29. This indicates that CGNX is financially healthy and has no problem in meeting its short term obligations.
Looking at the Current ratio, with a value of 3.29, CGNX is in the better half of the industry, outperforming 68.55% of the companies in the same industry.
A Quick Ratio of 2.53 indicates that CGNX has no problem at all paying its short term obligations.
CGNX's Quick ratio of 2.53 is fine compared to the rest of the industry. CGNX outperforms 67.74% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 3.29 | ||
| Quick Ratio | 2.53 |
3. Growth
3.1 Past
CGNX shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 32.79%, which is quite impressive.
CGNX shows a decrease in Earnings Per Share. Measured over the last years, the EPS has been decreasing by -2.03% yearly.
Looking at the last year, CGNX shows a quite strong growth in Revenue. The Revenue has grown by 10.14% in the last year.
Measured over the past years, CGNX shows a small growth in Revenue. The Revenue has been growing by 4.74% on average per year.
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 Y26.38%
EPS Next 2Y26.35%
EPS Next 3Y24.65%
EPS Next 5Y28.85%
Revenue Next Year6.79%
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.
When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
4. Valuation
4.1 Price/Earnings Ratio
A Price/Earnings ratio of 56.20 indicates a quite expensive valuation of CGNX.
CGNX's Price/Earnings is on the same level as the industry average.
When comparing the Price/Earnings ratio of CGNX to the average of the S&P500 Index (27.29), we can say CGNX is valued expensively.
A Price/Forward Earnings ratio of 38.53 indicates a quite expensive valuation of CGNX.
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 22.80, which is the current average of the S&P500 Index.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 56.2 | ||
| Fwd PE | 38.53 |
4.2 Price Multiples
CGNX's Enterprise Value to EBITDA ratio is in line with the industry average.
Based on the Price/Free Cash Flow ratio, CGNX is valued a bit cheaper than the industry average as 65.32% of the companies are valued more expensively.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 42.55 | ||
| EV/EBITDA | 45.53 |
4.3 Compensation for Growth
The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates CGNX does not grow enough to justify the current Price/Earnings ratio.
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)2.13
PEG (5Y)N/A
EPS Next 2Y26.35%
EPS Next 3Y24.65%
5. Dividend
5.1 Amount
With a yearly dividend of 0.69%, CGNX is not a good candidate for dividend investing.
CGNX's Dividend Yield is rather good when compared to the industry average which is at 2.22. CGNX pays more dividend than 83.87% of the companies in the same industry.
Compared to an average S&P500 Dividend Yield of 2.38, CGNX's dividend is way lower than the S&P500 average.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 0.69% |
5.2 History
The dividend of CGNX is nicely growing with an annual growth rate of 8.39%!
CGNX has been paying a dividend for at least 10 years, so it has 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
CGNX pays out 43.88% of its income as dividend. This is a bit on the high side, but may be sustainable.
CGNX's earnings are growing more than its dividend. This makes the dividend growth sustainable.
DP43.88%
EPS Next 2Y26.35%
EPS Next 3Y24.65%
45.52
-0.91 (-1.96%)
Chartmill FA Rating
GICS SectorInformation Technology
GICS IndustryGroupTechnology Hardware & Equipment
GICS IndustryElectronic Equipment, Instruments & Components
Earnings (Last)
Earnings (Next)
Inst Owners101.95%
Inst Owner Change-0.67%
Ins Owners0.27%
Ins Owner Change0.04%
Market Cap7.64B
Analysts76.92
Price Target47.27 (3.84%)
Short Float %3.64%
Short Ratio2.95
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 0.69% |
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)2.84%
PT rev (3m)26.74%
EPS NQ rev (1m)0.88%
EPS NQ rev (3m)17.4%
EPS NY rev (1m)0.16%
EPS NY rev (3m)7.69%
Revenue NQ rev (1m)0.15%
Revenue NQ rev (3m)4.77%
Revenue NY rev (1m)0.03%
Revenue NY rev (3m)1.15%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 56.2 | ||
| Fwd PE | 38.53 | ||
| P/S | 8.22 | ||
| P/FCF | 42.55 | ||
| P/OCF | 40.06 | ||
| P/B | 5.07 | ||
| P/tB | 7.52 | ||
| EV/EBITDA | 45.53 |
EPS(TTM)0.81
EY1.78%
EPS(NY)1.18
Fwd EY2.6%
FCF(TTM)1.07
FCFY2.35%
OCF(TTM)1.14
OCFY2.5%
SpS5.54
BVpS8.97
TBVpS6.05
PEG (NY)2.13
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 | 10.65 |
F-Score7
WACC9.38%
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 Y26.38%
EPS Next 2Y26.35%
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 Year6.79%
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 Year53.61%
EBIT Next 3Y31.29%
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%