Cognex Corporation

NasdaqGS:CGNX Stock Report

Market Cap: US$6.4b

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

  • 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 CGNX when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: CGNX ($36.57) is trading above our estimate of fair value ($35.9)

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

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for CGNX. This is calculated by dividing CGNX's market cap by their current earnings.
What is CGNX's PE Ratio?
PE Ratio70.4x
EarningsUS$89.05m
Market CapUS$6.43b

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.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average59x
VNT Vontier
14.2x9.6%US$5.9b
NOVT Novanta
99x32.5%US$6.1b
AEIS Advanced Energy Industries
100.7x71.7%US$4.6b
ITRI Itron
22.3x6.5%US$5.1b
CGNX Cognex
70.4x30.4%US$6.4b

Price-To-Earnings vs Peers: CGNX is expensive based on its Price-To-Earnings Ratio (70.4x) compared to the peer average (59x).

Price to Earnings Ratio vs Industry

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

5 CompaniesPrice / EarningsEstimated GrowthMarket Cap
SHMD SCHMID Group
3.4xn/aUS$140.53m
DSWL Deswell Industries
3.7xn/aUS$38.56m
SGE Strong Global Entertainment
3.8xn/aUS$12.27m
SMX SMX (Security Matters)
0.6xn/aUS$876.13k
CGNX 70.4xIndustry Avg. 26.0xNo. of Companies9PE01632486480+
5 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: CGNX is expensive based on its Price-To-Earnings Ratio (70.4x) compared to the US Electronic industry average (26.4x).

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 Ratio70.4x
Fair PE Ratio33.4x

Price-To-Earnings vs Fair Ratio: CGNX is expensive based on its Price-To-Earnings Ratio (70.4x) compared to the estimated Fair Price-To-Earnings Ratio (33.4x).

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$36.57
US$47.29
+29.3%
13.1%US$60.00US$38.00n/a18
Dec ’25US$39.98
US$47.35
+18.4%
13.0%US$60.00US$38.00n/a18
Nov ’25US$40.41
US$47.88
+18.5%
13.2%US$60.00US$38.00n/a17
Oct ’25US$39.69
US$47.12
+18.7%
13.3%US$60.00US$38.00n/a17
Sep ’25US$40.38
US$47.47
+17.6%
12.9%US$60.00US$38.00n/a17
Aug ’25US$39.08
US$49.24
+26.0%
13.1%US$60.00US$39.00n/a17
Jul ’25US$46.40
US$48.63
+4.8%
13.1%US$60.00US$40.00n/a16
Jun ’25US$45.52
US$48.87
+7.4%
13.3%US$60.00US$40.00n/a15
May ’25US$40.94
US$45.40
+10.9%
14.1%US$60.00US$36.00n/a15
Apr ’25US$41.75
US$45.40
+8.7%
14.2%US$60.00US$36.00n/a15
Mar ’25US$39.83
US$44.43
+11.5%
14.0%US$60.00US$36.00n/a14
Feb ’25US$36.58
US$44.50
+21.7%
15.2%US$60.00US$35.00n/a14
Jan ’25US$41.74
US$43.79
+4.9%
14.8%US$60.00US$35.00n/a14
Dec ’24US$38.40
US$44.87
+16.8%
16.6%US$60.00US$35.00US$39.9815
Nov ’24US$34.77
US$47.40
+36.3%
16.0%US$65.00US$37.00US$40.4115
Oct ’24US$42.44
US$52.27
+23.2%
10.9%US$65.00US$45.00US$39.6915
Sep ’24US$47.48
US$52.27
+10.1%
10.9%US$65.00US$45.00US$40.3815
Aug ’24US$51.98
US$53.33
+2.6%
11.4%US$65.00US$45.00US$39.0815
Jul ’24US$56.02
US$51.31
-8.4%
13.2%US$65.00US$40.00US$46.4016
Jun ’24US$55.63
US$50.75
-8.8%
12.6%US$65.00US$40.00US$45.5216
May ’24US$48.28
US$49.07
+1.6%
14.5%US$65.00US$38.00US$40.9415
Apr ’24US$49.55
US$50.07
+1.1%
15.7%US$65.00US$38.00US$41.7514
Mar ’24US$48.06
US$50.07
+4.2%
15.7%US$65.00US$38.00US$39.8314
Feb ’24US$55.29
US$49.93
-9.7%
15.0%US$65.00US$40.00US$36.5814
Jan ’24US$47.11
US$50.41
+7.0%
15.5%US$65.00US$40.00US$41.7417
Dec ’23US$50.60
US$51.00
+0.8%
15.1%US$65.00US$40.00US$38.4016

Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2024/12/17 09:20
End of Day Share Price 2024/12/17 00:00
Earnings2024/09/29
Annual Earnings2023/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on .

Analyst Sources

Cognex Corporation is covered by 37 analysts. 21 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Robert MasonBaird
Alek GasielBarrington Research Associates, Inc.
Holden LewisBB&T Capital Markets