We’ve recently updated our valuation analysis.

Cognex Valuation

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

Valuation Score

1/6

Valuation Score 1/6

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • Analyst Forecast

Key Valuation Metric

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

Other financial metrics that can be useful for relative valuation.

CGNX key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue8.9x
Enterprise Value/EBITDA31.3x
PEG Ratio3.2x

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for CGNX vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average48.6x
NATI National Instruments
50.4x22.6%US$7.1b
NOVT Novanta
79.4x13.7%US$5.8b
TRMB Trimble
29.9x9.9%US$14.3b
ZBRA Zebra Technologies
34.9x26.0%US$16.3b
CGNX Cognex
44.3x13.9%US$9.5b

Price-To-Earnings vs Peers: CGNX is good value based on its Price-To-Earnings Ratio (44.3x) compared to the peer average (48.6x).


Price to Earnings Ratio vs Industry

How does CGNX's PE Ratio compare vs other companies in the US Electronic Industry?

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
Industry Avg.n/a12.7%
n/an/an/a

Price-To-Earnings vs Industry: CGNX is expensive based on its Price-To-Earnings Ratio (44.3x) compared to the US Electronic industry average (16.7x)


Price to Earnings Ratio vs Fair Ratio

What is CGNX'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.

CGNX PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio44.3x
Fair PE Ratio21.3x

Price-To-Earnings vs Fair Ratio: CGNX is expensive based on its Price-To-Earnings Ratio (44.3x) compared to the estimated Fair Price-To-Earnings Ratio (21.3x).


Share Price vs Fair Value

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

Below Fair Value: CGNX ($54.74) is trading above our estimate of fair value ($29.12)

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


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 CGNX forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentUS$54.74
US$50.47
-7.8%
14.8%US$65.00US$40.00n/a15
Jan ’24US$47.11
US$50.41
+7.0%
15.5%US$65.00US$40.00n/a17
Dec ’23US$50.60
US$51.00
+0.8%
15.1%US$65.00US$40.00n/a16
Nov ’23US$45.46
US$52.00
+14.4%
17.5%US$75.00US$40.00n/a16
Oct ’23US$41.45
US$52.38
+26.4%
16.6%US$75.00US$41.00n/a16
Sep ’23US$42.52
US$52.00
+22.3%
17.7%US$75.00US$40.00n/a16
Aug ’23US$50.53
US$63.50
+25.7%
18.0%US$80.00US$41.00n/a16
Jul ’23US$43.47
US$65.25
+50.1%
17.6%US$80.00US$41.00n/a16
Jun ’23US$47.10
US$68.94
+46.4%
16.7%US$90.00US$50.00n/a16
May ’23US$67.63
US$84.00
+24.2%
14.7%US$110.00US$67.00n/a16
Apr ’23US$78.06
US$83.75
+7.3%
14.9%US$110.00US$67.00n/a16
Mar ’23US$66.44
US$84.19
+26.7%
14.8%US$110.00US$67.00n/a16
Feb ’23US$66.42
US$87.75
+32.1%
12.0%US$110.00US$75.00US$54.7416
Jan ’23US$77.76
US$88.81
+14.2%
11.8%US$110.00US$75.00US$47.1116
Dec ’22US$74.94
US$88.81
+18.5%
11.8%US$110.00US$75.00US$50.6016
Nov ’22US$88.41
US$90.86
+2.8%
14.5%US$120.00US$74.00US$45.4614
Oct ’22US$81.34
US$91.33
+12.3%
13.9%US$120.00US$74.00US$41.4515
Sep ’22US$87.54
US$91.33
+4.3%
13.9%US$120.00US$74.00US$42.5215
Aug ’22US$90.41
US$90.40
-0.01%
17.4%US$120.00US$72.00US$50.5315
Jul ’22US$84.10
US$89.80
+6.8%
18.3%US$120.00US$65.00US$43.4715
Jun ’22US$79.16
US$88.13
+11.3%
19.5%US$120.00US$63.00US$47.1016
May ’22US$86.12
US$87.38
+1.5%
20.4%US$115.00US$61.00US$67.6316
Apr ’22US$84.31
US$87.38
+3.6%
20.4%US$115.00US$61.00US$78.0616
Mar ’22US$85.20
US$87.38
+2.6%
20.4%US$115.00US$61.00US$66.4416
Feb ’22US$83.59
US$74.75
-10.6%
20.4%US$110.00US$57.00US$66.4216

Analyst Forecast: Target price is lower than the current share price.


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