Cognex Corporation

DB:CGZ Stock Report

Market Cap: €6.6b

Cognex Valuation

Is CGZ undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

0/6

Valuation Score 0/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of CGZ when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: CGZ (€38.84) is trading above our estimate of fair value (€36.27)

Significantly Below Fair Value: CGZ is trading above our estimate of fair value.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for CGZ?

Key metric: As CGZ is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for CGZ. This is calculated by dividing CGZ's market cap by their current earnings.
What is CGZ's PE Ratio?
PE Ratio80x
EarningsUS$89.05m
Market CapUS$6.98b

Price to Earnings Ratio vs Peers

How does CGZ's PE Ratio compare to its peers?

The above table shows the PE ratio for CGZ vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average20.1x
JEN Jenoptik
14.3x12.3%€1.2b
S9I Stemmer Imaging
42.2x37.2%€344.5m
M7U Nynomic
12.3x17.5%€116.0m
FEV FORTEC Elektronik
11.6x14.2%€61.8m
CGZ Cognex
80x30.4%€7.0b

Price-To-Earnings vs Peers: CGZ is expensive based on its Price-To-Earnings Ratio (80x) compared to the peer average (20.1x).

Price to Earnings Ratio vs Industry

How does CGZ's PE Ratio compare vs other companies in the European Electronic Industry?

4 CompaniesPrice / EarningsEstimated GrowthMarket Cap
CGZ 80.0xIndustry Avg. 17.8xNo. of Companies15PE01224364860+
4 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: CGZ is expensive based on its Price-To-Earnings Ratio (80x) compared to the European Electronic industry average (17.8x).

Price to Earnings Ratio vs Fair Ratio

What is CGZ's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

CGZ PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio80x
Fair PE Ratio20.2x

Price-To-Earnings vs Fair Ratio: CGZ is expensive based on its Price-To-Earnings Ratio (80x) compared to the estimated Fair Price-To-Earnings Ratio (20.2x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst CGZ forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€38.84
€44.45
+14.4%
13.4%€56.32€35.67n/a17
Nov ’25€36.93
€44.19
+19.6%
13.2%€55.37€35.07n/a17
Oct ’25€36.26
€42.42
+17.0%
13.3%€54.02€34.21n/a17
Sep ’25€36.07
€43.32
+20.1%
12.9%€54.76€34.68n/a17
Aug ’25€44.45
€45.63
+2.6%
13.1%€55.60€36.14n/a17
Jul ’25€43.74
€44.61
+2.0%
13.1%€55.05€36.70n/a16
Jun ’25€41.86
€45.43
+8.5%
13.3%€55.78€37.19n/a15
May ’25€38.61
€41.82
+8.3%
14.1%€55.27€33.16n/a15
Apr ’25€39.15
€41.79
+6.7%
14.2%€55.22€33.13n/a15
Mar ’25€36.40
€41.06
+12.8%
14.0%€55.45€33.27n/a14
Feb ’25€33.40
€40.89
+22.4%
15.2%€55.13€32.16n/a14
Jan ’25€38.35
€40.04
+4.4%
14.8%€54.86€32.00n/a14
Dec ’24€34.45
€41.85
+21.5%
16.6%€55.96€32.64n/a15
Nov ’24€34.30
€44.85
+30.8%
16.0%€61.51€35.01€36.9315
Oct ’24€39.95
€48.17
+20.6%
10.9%€59.91€41.48€36.2615
Sep ’24€43.30
€48.17
+11.3%
10.9%€59.91€41.48€36.0715
Aug ’24€47.05
€48.21
+2.5%
11.4%€58.76€40.68€44.4515
Jul ’24€51.50
€46.90
-8.9%
13.2%€59.42€36.56€43.7416
Jun ’24€50.60
€46.29
-8.5%
12.6%€59.29€36.48€41.8616
May ’24€43.10
€45.18
+4.8%
14.5%€59.85€34.99€38.6115
Apr ’24€44.78
€47.24
+5.5%
15.7%€61.32€35.85€39.1514
Mar ’24€45.04
€47.24
+4.9%
15.7%€61.32€35.85€36.4014
Feb ’24€49.44
€45.45
-8.1%
15.0%€59.17€36.41€33.4014
Jan ’24€44.23
€47.86
+8.2%
15.5%€61.70€37.97€38.3517
Dec ’23€47.42
€49.50
+4.4%
15.1%€63.08€38.82€34.4516
Nov ’23€45.76
€53.59
+17.1%
17.5%€77.30€41.22€34.3016

Analyst Forecast: Target price is less than 20% higher than the current share price.

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