Cognex Corporation (CGNX) financials
NASDAQ · Technology · Hardware, Equipment & Parts · 2,745 employees · CEO Matthew Moschner
- Price
- $56.15 -4.78%
- Market cap
- $9.45B
- Enterprise value
- $9.22B
- Last report
- Q2 '26 filed 2026-08-06
- Next report
- 2026-11-04 EPS est. $0.52
Revenue (TTM)$1.09B+17.1% vs a year agoLast 4 quarters; bars = each quarter
Operating margin (TTM)21.9%+7.7 pp vs a year agoOperating income $238M
Net income (TTM)$175M+43.2% vs a year agoAfter tax, incl. non-operating gains
Free cash flow (TTM)$268M+49.4% vs a year agoCapex $8.34M
Diluted EPS (TTM)$1.03+45.1% vs a year agoSum of the last 4 quarters
Net cash$332M+128.9% vs a year agoCash + short-term investments - debt
Valuation & key figures
- Market cap
- $9.45B EV $9.22B
- Revenue
- $1.09B Trailing 12 months
- Revenue growth
- +15% FY2026 consensus
- Profit margin
- 16.1% Net income / revenue, TTM
- P/E
- 53.5× Forward 33.4× (FY2026)
- P/S
- 8.7× Price / sales, TTM
- EV / EBITDA
- 33.0× TTM
- Free cash flow
- $268M Trailing 12 months
- Net income
- $175M Trailing 12 months
- Revenue estimate
- $1.15B FY2026 consensus
- Earnings
- 2026-11-04 Revenue est. $314M
- Dividend
- $0.34 Per share, last 12 months
Key takeaways
Computed from the reported numbers - every statement carries the figure it rests on.
- Last report (2026-08-05): revenue in line, EPS beat by 6.2%Revenue $291M vs $292M expected (-0.3%); EPS $0.45 vs $0.42 (+6.2%).
- Revenue growth accelerating: 16.9% year on yearQ2 '26 revenue $291M, against an average of 14.0% over the four quarters before.
- Operating margin 21.9% (TTM), +7.7 pp on a year agoOperating income grew 80.7% while revenue grew 17.1%.
- Capex 0.8% of revenue (a year ago 1.2%)$8.34M invested in the last 4 quarters (-25.3% on a year earlier). Free cash flow $268M = 153.5% of net income.
- Returned $210M to shareholders = 78.4% of free cash flowBuybacks $154M (a year earlier $149M), dividends $56.1M, stock-based pay $49.4M (TTM).
- Diluted share count up 0.8% in a year170M diluted shares in Q2 '26, 169M a year earlier.
- Net cash $332MCash + short-term investments $404M, debt incl. leases $72.5M; a year ago net cash $145M.
Last quarter: Q2 '26
Quarter ended 2026-07-05. Compared with the same quarter a year earlier and with the analyst consensus before the report.
Quarter vs a year ago
| Q2 '26 | Year ago | Change | |
|---|---|---|---|
| Revenue | $291M | $249M | +16.9% |
| Gross margin | 70.6% | 67.4% | +3.3 pp |
| Operating income | $85.5M | $43.4M | +96.9% |
| Operating margin | 29.4% | 17.4% | +11.9 pp |
| Net income | $72.8M | $40.5M | +79.6% |
| Diluted EPS | $0.43 | $0.24 | +79.2% |
| Operating cash flow | $69.2M | $42.6M | +62.2% |
| Capex | $1.53M | $2.19M | -30.2% |
| Free cash flow | $67.6M | $40.4M | +67.3% |
| R&D | $32.4M | $33.1M | -2.1% |
| Stock-based compensation | $11.2M | $12.3M | -8.8% |
Reported vs consensus
2026-08-05| Actual | Consensus | vs consensus | |
|---|---|---|---|
| Revenue | $291M | $292M | -0.3% |
| EPS (as estimated) | $0.45 | $0.42 | +6.2% |
From the report of 2026-08-05 for Q2 '26: revenue and the EPS analysts estimate (often adjusted), so it can differ from the EPS of the statements above.
EPS vs consensus
last 8 reportsRevenue
Where the money comes from - by business line and by region, quarter by quarter.
Revenue, operating income and growth
quarterlyRevenue by business line
stacked, quarterly| Segment | Q2 '26 | y/y | Share | TTM | TTM y/y | 12 quarters |
|---|---|---|---|---|---|---|
| Standard Products and Services | $247M | +14.4% | 84.8% | – | – | |
| Application-Specific Customer Solutions | $44.2M | +33.6% | 15.2% | – | – |
Revenue by region
share of total| Segment | Q2 '26 | y/y | Share | TTM | TTM y/y | 12 quarters |
|---|---|---|---|---|---|---|
| Americas | $117M | +27.0% | 40.2% | $454M | +21.6% | |
| Europe | $58.9M | -11.6% | 20.2% | $261M | +17.6% | |
| CHINA | $66.1M | +46.9% | 22.7% | – | – | |
| Asia, Excluding China | $49.2M | +8.6% | 16.9% | – | – |
Margins & cost structure
How much of each unit of revenue is left at each level - and where the costs go.
Margins
quarterlyCosts as % of revenue
quarterlyCash flow & capital allocation
Cash generated, what it is spent on, and what reaches shareholders.
Operating cash flow, capex, free cash flow
quarterlyUses of cash vs operating cash flow
fiscal yearsLast 4 quarters
cash flow statement- Operating cash flow
- $277M
- Capex
- -$8.34M
- Buybacks
- -$154M
- Dividends
- -$56.1M
- Acquisitions
- $0
- Net debt issued
- $0
- Stock-based compensation
- $49.4M
- Free cash flow
- $268M
- Returned to shareholders / FCF
- 78.4%
Share count and EPS
quarterly, dilutedBalance sheet
Liquidity, investments and debt at each quarter end.
Cash, investments and debt
quarter endsValuation & returns
Today's multiples against the company's own last five fiscal years; analyst targets and ratings.
Multiples and returns
TTM vs 5 fiscal years| Now | 5y average | Where today sits in the 5-year range | |
|---|---|---|---|
| P/E (TTM) | 53.5× | 52.2× | 38.0× – 63.2× |
| EV / EBITDA | 33.0× | 36.2× | 27.4× – 48.9× |
| EV / Sales | 8.5× | 8.4× | 5.9× – 13.1× |
| Price / FCF | 35.2× | 46.8× | 25.5× – 80.0× |
| Price / Book | 5.8× | 5.6× | 4.1× – 9.6× |
| FCF yield | 2.8% | 2.5% | 1.2% – 3.9% |
| Return on invested capital | 8.2% | 8.7% | 5.1% – 15.2% |
| Return on equity | 11.5% | 11.3% | 7.0% – 19.6% |
Analysts
Consensus target $75.36 (+34.2%)
range $65.00 – $91.00 · rating Hold
Strong buy1
Buy14
Hold15
Sell2
Strong sell0
Outlook
Analyst consensus for the coming fiscal years and what it implies at today's price.
Consensus estimates
| Fiscal year | Revenue | Growth | EPS | Growth | P/E at today's price | Analysts (EPS) |
|---|---|---|---|---|---|---|
| FY2026 | $1.15B | +15.3% | $1.68 | +147.5% | 33.4× | 12 |
| FY2027 | $1.27B | +11.0% | $1.98 | +17.9% | 28.3× | 12 |
| FY2028 | $1.41B | +10.8% | $2.27 | +14.5% | 24.7× | 9 |
| FY2029 | $1.61B | +14.4% | $2.50 | +10.1% | 22.5× | 3 |
| FY2030 | $1.64B | +1.9% | $2.39 | -4.4% | 23.5× | 3 |
Financial statements
Every line of the income statement, balance sheet and cash flow statement - 12 quarters and 10 fiscal years, as values, as % of revenue or as growth.
Every reported line
All 303 figures Cognex Corporation tagged in its recent 10-Q / 10-K filings, with the official SEC label and definition - including the notes (leases, taxes, buybacks, employees, ...).
| Line (SEC label) | Latest quarter | Year ago | y/y | Latest FY | Prior FY | y/y |
|---|---|---|---|---|---|---|
| Accounts Payable, Current | $65.1M | $42.3M | +53.9% | $50.2M | $38M | +32.0% |
| Accounts Receivable, after Allowance for Credit Loss, Current | $216M | $184M | +17.6% | $147M | $143M | +2.3% |
| Accounts Receivable, Allowance for Credit Loss | $728K2025-12-31 | $827K | -12.0% | $728K | $827K | -12.0% |
| Accounts Receivable, Allowance for Credit Loss, Current | $726K | $620K | +17.1% | $1.35M2013-12-31 | $1.13M | +19.7% |
| Accounts Receivable, Allowance for Credit Loss, Writeoff | – | – | – | $555K | $222K | +150.0% |
| Accounts Receivable, Credit Loss Expense (Reversal) | $250K2025-12-31 | $359K | -30.4% | $477K | $459K | +3.9% |
| Accretion (Amortization) of Discounts and Premiums, Investments | $292K2025-12-31 | $131K | +122.9% | $731K | -$306K | +338.9% |
| Accrued Bonuses, Current | $35.7M2025-12-31 | $18.7M | +90.5% | $35.7M | $18.7M | +90.5% |
| Accrued Income Taxes, Current | $9.13M | $5.48M | +66.4% | $9.14M | $25.7M | -64.4% |
| Accrued Liabilities, Current | $80.6M | $78.3M | +2.9% | $91.4M | $71.8M | +27.4% |
| Accrued Salaries, Current | $8.17M2025-12-31 | $5.12M | +59.5% | $8.17M | $5.12M | +59.5% |
| Accrued Vacation, Current | $5.16M2025-12-31 | $3.95M | +30.8% | $5.16M | $3.95M | +30.8% |
| Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment | $140M2025-12-31 | $127M | +10.2% | $140M | $127M | +10.2% |
| Accumulated Depreciation, Depletion and Amortization, Sale or Disposal of Property, Plant and Equipment | – | – | – | $5.65M | $9.49M | -40.5% |
| Accumulated Other Comprehensive Income (Loss), Foreign Currency Translation Adjustment, Net of Tax | -$54.3M2025-12-31 | -$67.8M | +19.9% | -$54.3M | -$67.8M | +19.9% |
| Accumulated Other Comprehensive Income (Loss), Net of Tax | -$62.5M | -$37.8M | -65.3% | -$53.5M | -$72.8M | +26.5% |
| Additional Paid in Capital, Common Stock | $1.29B | $1.11B | +16.6% | $1.14B | $1.09B | +4.4% |
| Adjustment for Long-term Intercompany Transactions, Net of Tax | – | – | – | $1.27M | $1.27M | 0.0% |
| Advertising Expense | – | – | – | $1.43M | $1.29M | +11.4% |
| Amortization of Intangible Assets | $2.29M | $2.68M | -14.5% | $10.5M | $11.4M | -8.0% |
| Amortization of Other Deferred Charges | – | – | – | $9.83M | $12.5M | -21.4% |
| Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 1.78M | 10.6M | -83.2% | 10.3M | 8.5M | +20.7% |
| AOCI, Debt Securities, Available-for-sale, Adjustment, after Tax | $2.11M2025-12-31 | -$3.7M | +157.0% | $2.11M | -$3.7M | +157.0% |
| APIC, Share-based Payment Arrangement, Increase for Cost Recognition | $11.2M | $12.3M | -8.8% | $48.5M | $52.4M | -7.5% |
| Assets | $2.18B | $2B | +8.7% | $2.02B | $1.99B | +1.2% |
| Assets, Current | $850M | $626M | +35.8% | $697M | $613M | +13.7% |
| Capitalized Contract Cost, Gross | $20.1M | $14.1M | +42.4% | $10.6M | $10.7M | -1.1% |
| Cash | $200M2025-12-31 | $171M | +16.9% | $200M | $171M | +16.9% |
| Cash and Cash Equivalents, at Carrying Value | $303M | $179M | +68.7% | $263M | $186M | +41.3% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | $303M | $179M | +68.7% | $263M | $186M | +41.3% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | $65.2M | $35.6M | +83.3% | $76.8M | -$16.6M | +563.9% |
| Common Stock, Dividends, Per Share, Cash Paid | $0.09 | $0.08 | +6.3% | $0.33 | $0.31 | +6.6% |
| Common Stock, Par or Stated Value Per Share | $0.00 | $0.00 | 0.0% | $0.00 | $0.00 | 0.0% |
| Common Stock, Shares Authorized | 300M | 300M | 0.0% | 300M | 300M | 0.0% |
| Common Stock, Shares, Issued | 168M | 168M | +0.2% | 167M | 170M | -2.0% |
| Common Stock, Shares, Outstanding | 168M | 168M | +0.2% | 167M | 170M | -2.0% |
| Common Stock, Value, Outstanding | $336K | $336K | 0.0% | $334K | $341K | -2.1% |
| Comprehensive Income (Loss), Net of Tax, Attributable to Parent | $71M | $61.4M | +15.7% | $134M | $78.7M | +69.9% |
| Contract with Customer, Liability, Current | $49M | $53.1M | -7.7% | $21.1M | $25M | -15.7% |
| Cost of Goods and Services Sold | $85.5M | $81.2M | +5.3% | $329M | $289M | +13.9% |
| Cost, Depreciation and Amortization | $3.04M | $3.14M | -3.4% | $12.4M | $12.5M | -0.9% |
| Current Federal Tax Expense (Benefit) | – | – | – | $4.58M | $28M | -83.7% |
| Current Foreign Tax Expense (Benefit) | – | – | – | $19.6M | $12.8M | +53.6% |
| Current Income Tax Expense (Benefit) | – | – | – | $28.7M | $45.3M | -36.8% |
| Current State and Local Tax Expense (Benefit) | – | – | – | $4.44M | $4.52M | -1.9% |
| Debt Securities, Available-for-sale | $452M | $373M | +21.2% | $379M | $401M | -5.4% |
| Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | $832K | $2.39M | -65.2% | $3.32M | $413K | +702.9% |
| Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax | $2.29M | $1.46M | +57.1% | $529K | $5.32M | -90.1% |
| Debt Securities, Available-for-sale, Allowance for Credit Loss | $0 | $0 | – | $0 | $0 | – |
| Debt Securities, Available-for-sale, Allowance for Credit Loss, Current | $02025-12-31 | $0 | – | $0 | $0 | – |
| Debt Securities, Available-for-sale, Allowance for Credit Loss, Noncurrent | $02025-12-31 | $0 | – | $0 | $0 | – |
| Debt Securities, Available-for-sale, Amortized Cost | $377M2025-12-31 | $406M | -7.2% | $377M | $406M | -7.2% |
| Debt Securities, Available-for-sale, Amortized Cost, Current | $74.1M2025-12-31 | $60.7M | +21.9% | $74.1M | $60.7M | +21.9% |
| Debt Securities, Available-for-sale, Amortized Cost, Noncurrent | $303M2025-12-31 | $345M | -12.3% | $303M | $345M | -12.3% |
| Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | $8.48M | $58M | -85.4% | $26.6M | $93.6M | -71.6% |
| Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | $274K | $1.16M | -76.3% | $456K | $2.12M | -78.5% |
| Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | $253M | $63.8M | +297.0% | $30.6M | $225M | -86.4% |
| Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | $2.02M | $305K | +562.0% | $73K | $3.2M | -97.7% |
| Debt Securities, Available-for-sale, Current | $102M | $48.9M | +108.3% | $74M | $60M | +23.5% |
| Debt Securities, Available-for-Sale, Fair Value, Maturity, Allocated and Single Maturity Date, Year One | $102M | $48.9M | +108.3% | $74M | $60M | +23.5% |
Source: SEC companyfacts (XBRL of every 10-Q / 10-K). Cash-flow quarters are derived from the year-to-date figures the 10-Q tags. Segment breakdowns are tagged with dimensions and are shown in the segment section instead.
Sources
Statements, segment revenue, metrics and estimates are standardised from the company's filings. Segment profits and every reported line: SEC EDGAR (XBRL). Filings read: 10-Q 2026-07-05, 10-Q 2026-04-05, 10-K 2025-12-31, 10-Q 2025-09-28, 10-Q 2025-06-29, 10-Q 2025-03-30, 10-K 2024-12-31, 10-Q 2024-09-29, 10-Q 2024-06-30
Data as of 2026-11-02