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COGNEX CORP

CGNX Clue Score43
United States Fiscal year ends December CIK 0000851205
$62.92 +3.30% Close, 9 Oct 2026
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Price $62.92 −20.81% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 12 Oct 2016. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2016Revenue529.5Operating income154.1Net income143.7EPS, diluted0.83Fiscal year 2017Revenue766.1 +44.7%Operating income258.9Net income176.7 +23.0%EPS, diluted0.98 +18.1%Fiscal year 2018Revenue806.3 +5.3%Operating income221.1Net income219.3 +24.1%EPS, diluted1.24 +26.5%Fiscal year 2019Revenue725.6 −10.0%Operating income142.6Net income203.9 −7.0%EPS, diluted1.16 −6.5%Fiscal year 2020Revenue811.0 +11.8%Operating income170.5Net income176.2 −13.6%EPS, diluted1.00 −13.8%Fiscal year 2021Revenue1,037.1 +27.9%Operating income315.1Net income279.9 +58.9%EPS, diluted1.56 +56.0%Fiscal year 2022Revenue1,006.1 −3.0%Operating income246.2Net income215.5 −23.0%EPS, diluted1.23 −21.2%Fiscal year 2023Revenue837.5 −16.8%Operating income130.7Net income113.2 −47.5%EPS, diluted0.65 −47.2%Fiscal year 2024Revenue914.5 +9.2%Operating income115.1Net income106.2 −6.2%EPS, diluted0.62 −4.6%Fiscal year 2025Revenue994.4 +8.7%Operating income162.6Net income114.4 +7.8%EPS, diluted0.68 +9.7%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue 529.5 766.1 806.3 725.6 811.0 1,037.1 1,006.1 837.5 914.5 994.4
Growth +44.7% +5.3% −10.0% +11.8% +27.9% −3.0% −16.8% +9.2% +8.7%
Operating income 154.1 258.9 221.1 142.6 170.5 315.1 246.2 130.7 115.1 162.6
Net income 143.7 176.7 219.3 203.9 176.2 279.9 215.5 113.2 106.2 114.4
Growth +23.0% +24.1% −7.0% −13.6% +58.9% −23.0% −47.5% −6.2% +7.8%
EPS, diluted 0.83 0.98 1.24 1.16 1.00 1.56 1.23 0.65 0.62 0.68
Growth +18.1% +26.5% −6.5% −13.8% +56.0% −21.2% −47.2% −4.6% +9.7%

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Gross marginOperating marginNet margin
Fiscal year 2016Gross margin75.2%Operating margin29.1%Net margin27.1%Free cash flow margin32.0%Fiscal year 2017Gross margin75.6%Operating margin33.8%Net margin23.1%Free cash flow margin25.5%Fiscal year 2018Gross margin74.4%Operating margin27.4%Net margin27.2%Free cash flow margin23.1%Fiscal year 2019Gross margin73.8%Operating margin19.7%Net margin28.1%Free cash flow margin31.9%Fiscal year 2020Gross margin74.5%Operating margin21.0%Net margin21.7%Free cash flow margin28.2%Fiscal year 2021Gross margin73.3%Operating margin30.4%Net margin27.0%Free cash flow margin28.8%Fiscal year 2022Gross margin71.8%Operating margin24.5%Net margin21.4%Free cash flow margin22.2%Fiscal year 2023Gross margin71.8%Operating margin15.6%Net margin13.5%Free cash flow margin10.7%Fiscal year 2024Gross margin68.4%Operating margin12.6%Net margin11.6%Free cash flow margin14.7%Fiscal year 2025Gross margin66.9%Operating margin16.3%Net margin11.5%Free cash flow margin23.8%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Gross margin 75.2% 75.6% 74.4% 73.8% 74.5% 73.3% 71.8% 71.8% 68.4% 66.9%
Operating margin 29.1% 33.8% 27.4% 19.7% 21.0% 30.4% 24.5% 15.6% 12.6% 16.3%
Net margin 27.1% 23.1% 27.2% 28.1% 21.7% 27.0% 21.4% 13.5% 11.6% 11.5%
Free cash flow margin 32.0% 25.5% 23.1% 31.9% 28.2% 28.8% 22.2% 10.7% 14.7% 23.8%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2016Operating cash flow182.1Capital expenditure−12.8Free cash flow169.3Buybacks−47.1Dividends paid−25.2Fiscal year 2017Operating cash flow224.3Capital expenditure−28.8Free cash flow195.6 +15.5%Buybacks−123.7Dividends paid−29.0Fiscal year 2018Operating cash flow223.5Capital expenditure−37.1Free cash flow186.4 −4.7%Buybacks−203.8Dividends paid−31.9Fiscal year 2019Operating cash flow253.3Capital expenditure−21.7Free cash flow231.6 +24.3%Buybacks−61.7Dividends paid−35.1Fiscal year 2020Operating cash flow242.4Capital expenditure−13.3Free cash flow229.1 −1.1%Buybacks−51.0Dividends paid−390.5Fiscal year 2021Operating cash flow314.1Capital expenditure−15.5Free cash flow298.6 +30.3%Buybacks−161.7Dividends paid−43.3Fiscal year 2022Operating cash flow243.4Capital expenditure−19.7Free cash flow223.7 −25.1%Buybacks−204.3Dividends paid−45.9Fiscal year 2023Operating cash flow112.9Capital expenditure−23.1Free cash flow89.8 −59.8%Buybacks−79.8Dividends paid−49.1Fiscal year 2024Operating cash flow149.1Capital expenditure−15.0Free cash flow134.0 +49.2%Buybacks−67.1Dividends paid−52.3Fiscal year 2025Operating cash flow245.5Capital expenditure−8.7Free cash flow236.8 +76.6%Buybacks−151.2Dividends paid−54.6
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow 182.1 224.3 223.5 253.3 242.4 314.1 243.4 112.9 149.1 245.5
Capital expenditure −12.8 −28.8 −37.1 −21.7 −13.3 −15.5 −19.7 −23.1 −15.0 −8.7
Free cash flow 169.3 195.6 186.4 231.6 229.1 298.6 223.7 89.8 134.0 236.8
Growth +15.5% −4.7% +24.3% −1.1% +30.3% −25.1% −59.8% +49.2% +76.6%
Buybacks −47.1 −123.7 −203.8 −61.7 −51.0 −161.7 −204.3 −79.8 −67.1 −151.2
Dividends paid −25.2 −29.0 −31.9 −35.1 −390.5 −43.3 −45.9 −49.1 −52.3 −54.6

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
Cash
Fiscal year 2016Cash79.6Shareholders’ equity963.4Fiscal year 2017Cash106.6Shareholders’ equity1,095.7Fiscal year 2018Cash108.2Shareholders’ equity1,135.3Fiscal year 2019Cash171.4Shareholders’ equity1,355.7Fiscal year 2020Cash269.1Shareholders’ equity1,262.2Fiscal year 2021Cash186.2Shareholders’ equity1,430.1Fiscal year 2022Cash181.4Shareholders’ equity1,438.4Fiscal year 2023Cash202.7Shareholders’ equity1,504.8Fiscal year 2024Cash186.1Shareholders’ equity1,517.5Fiscal year 2025Cash262.9Shareholders’ equity1,491.9
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash 79.6 106.6 108.2 171.4 269.1 186.2 181.4 202.7 186.1 262.9
Shareholders’ equity 963.4 1,095.7 1,135.3 1,355.7 1,262.2 1,430.1 1,438.4 1,504.8 1,517.5 1,491.9

In millions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Income statement

In millions of USD, except per-share figures; shares in millions. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2016 31 Dec 2016 FY2017 31 Dec 2017 FY2018 31 Dec 2018 FY2019 31 Dec 2019 FY2020 31 Dec 2020 FY2021 31 Dec 2021 FY2022 31 Dec 2022 FY2023 31 Dec 2023 FY2024 31 Dec 2024 FY2025 31 Dec 2025
Revenue and profit
529.5 766.1 806.3 725.6 811.0 1,037.1 1,006.1 837.5 914.5 994.4
Growth +44.7% +5.3% −10.0% +11.8% +27.9% −3.0% −16.8% +9.2% +8.7%
131.1 187.3 206.1 189.8 206.4 277.3 284.2 236.3 288.7 329.0
398.4 578.8 600.3 535.9 604.6 759.8 721.9 601.2 625.8 665.4
Growth +45.3% +3.7% −10.7% +12.8% +25.7% −5.0% −16.7% +4.1% +6.3%
78.3 99.2 116.4 119.4 131.0 135.4 141.1 139.4 139.8 139.0
166.1 220.7 262.7 273.8 267.6 309.4 312.1 339.1 370.9 363.9
154.1 258.9 221.1 142.6 170.5 315.1 246.2 130.7 115.1 162.6
Growth +68.0% −14.6% −35.5% +19.6% +84.8% −21.9% −46.9% −12.0% +41.3%
162.1 266.5 234.6 163.0 186.9 318.9 250.7 135.3 131.5 182.8
18.1 89.8 15.3 −40.9 10.7 39.0 35.2 22.1 25.3 68.4
143.7 176.7 219.3 203.9 176.2 279.9 215.5 113.2 106.2 114.4
Growth +23.0% +24.1% −7.0% −13.6% +58.9% −23.0% −47.5% −6.2% +7.8%
Per share
0.84 1.02 1.27 1.19 1.02 1.59 1.24 0.66 0.62 0.68
0.83 0.98 1.24 1.16 1.00 1.56 1.23 0.65 0.62 0.68
Growth +18.1% +26.5% −6.5% −13.8% +56.0% −21.2% −47.2% −4.6% +9.7%
170.7 173.3 172.3 171.2 173.5 176.5 173.4 172.2 171.4 168.0
174.1 179.6 177.4 175.3 176.6 179.9 174.9 173.4 172.6 169.4
Growth +3.1% −1.2% −1.2% +0.8% +1.9% −2.8% −0.8% −0.5% −1.9%

Five years in brief

Worked out from the figures above, not from a press release
  • Revenue grew 4.2% a year over five years, and earnings per share fell 7.4% a year.
  • The diluted share count fell 4.1% in five years, so buybacks did some of the work per share.
  • Operating margin is down 4.7 points on five years ago, at 16.3%.
  • Profitable in every one of the 10 years on file.