Company Analysis

Cognex Corporation (CGNX)

Nasdaq: CGNX · Industrial Instruments For Measurement, Display, and Control · Natick, MA · filing with the SEC since 1994
Grade6.0
◀ Past 6.1● Present 5.8▶ Future 6.2

The grade of Cognex Corporation

Nine metrics read from its own filings, by tense
Headline grade
6.0/10
◀ Past6.130% of the headline
● Present5.840% of the headline
▶ Future6.230% of the headline

All three tenses have at least two readings, so the archetype blend applies as printed.

All nine metrics read as filed from the record.

◀ Past

What did they actually do?

6.1/1030% of the headline grade · 3 of 3 filed

Surviving crises

as filed
4.7/10

Has it survived what it has been through?

2 warning events since 2017; the latest 2026-02-19.

weight 33% of this tense · 47th percentile among 17 sector filers · read for itself

From the record

Cognex Corporation's filings since 2017 show 2 warning events: an auditor change (8-K item 4.01, 2 times, the latest 2026-02-19) (its current reports).

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Track record

as filed
6.1/10

What has it actually done, year after year?

+7.3% a year over 10 filed years; profitable in 10 of 10.

weight 45% of this tense · 61st percentile among 17 sector filers · read for its customers

From the record

Cognex Corporation's 10 filed years say what it did: revenue went from $530 million in fiscal 2016 to $994 million in fiscal 2025, up 7.3% a year; it rose in 6 of 9 years; the deepest fall was 19% from fiscal 2021 to fiscal 2023; net income was positive in 10 of 10 of those years (its annual reports).

What it rests on

  • revenue growth over the filed span7.3%top 32% of its family
  • the share of years revenue rosetop 50% of its family
  • the share of filed years with a profittop 18% of its family
  • the deepest fall from a revenue peak19.2%bottom 44% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Shareholder treatment

as filed
8.3/10

How has it treated the people who own it?

Share count shrank 1.1% a year. 89% of cash flow returned. Insiders: 43 sales, 0 purchases.

weight 22% of this tense · 83rd percentile among 12 sector filers · read for its shareholders

From the record

Over the 3 fiscal years to 2025-12-31, Cognex Corporation's diluted share count shrank about 1.1% a year, and dividends and buybacks returned about 89% of its operating cash flow over 3 years (its filed statements). Its officers and directors filed 43 sales and 0 purchases of their own stock on the open market in the year to 2026-09-30 (their Form 4 filings).

What it rests on

  • the share count over the yearstop 21% of its family
  • cash returned against operating cash flowtop 12% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

● Present

What are they doing right now?

5.8/1040% of the headline grade · 3 of 3 filed

Financial health

as filed
7.8/10

Is it financially healthy right now?

ROE 8%: 8¢ of profit per shareholder dollar. Leverage 26%: owes 26¢ per asset dollar.

weight 45% of this tense · 78th percentile among 17 sector filers · read for itself

From the record

Return on equity: in the fiscal year ended 2025-12-31, Cognex Corporation earned about 8 cents of profit for every dollar of shareholders' money, and gross profitability: its products earned about 33 cents per dollar of everything the company owns. Leverage: it owed about 26 cents per dollar of assets, and net share issuance: its share count shrank 1.9% over the year (the filed statements).

What it rests on

  • what it owes per dollar of assetstop 26% of its family
  • return on equitytop 32% of its family
  • gross profit against assetstop 9% of its family
  • the share count against the year beforetop 21% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Industry position

as filed
5.3/10

How strong is its position in its industry?

top 47% of 17 in its family; net margin 11.5%.

weight 33% of this tense · 53rd percentile among 17 sector filers · read for its customers

From the record

Cognex Corporation's standing among 17 graded names in its industry family: revenue of $994 million in fiscal 2025 ranks in the bottom 47% by size; a net margin of 11.5% ranks in the top 32%; revenue growth of -0.4% a year over the last 3 filed years ranks in the bottom 44% (its annual reports).

What it rests on

  • revenue against the family$994Mbottom 47% of its family
  • net margin11.5%top 32% of its family
  • three-year revenue growth-0.4%bottom 44% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Leadership

as filed
2.5/10

What are the people in charge doing?

bottom 25% of 13 in its family for leadership; chief executive since 2025.

weight 22% of this tense · 25th percentile among 13 sector filers · read for its shareholders

From the record

Cognex Corporation's leadership, from its insiders' filings and its current reports: the chief executive on the record is Moschner, Matthew (CEO & President, as filed), filing under that title since 2025-08-05, 1.3 years (bottom 10% of its family); the 18 officers and directors filing in the last fifteen months have been on the record a median of 4.4 years (bottom 19%); 7 officer or director changes were reported on Form 8-K since 2023-11-13, against the 18 people in charge now (bottom 46%; fewer changes for each person reads higher) (the Form 4 record, its Form 8-K reports). Years count from a person's first filing in the SEC's data sets, which begin in 2006, so each is a floor.

What it rests on

  • officer and director changes on Form 8-K, against the people in charge7 in three years among 18 peoplebottom 46% of its family
  • the median years the people in charge have filed4.4 yearsbottom 19% of its family
  • the chief executive's years on the record1.3 yearsbottom 10% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

▶ Future

What are they set up to do next?

6.2/1030% of the headline grade · 3 of 3 filed

Room to expand

as filed
8.0/10

How much room does it have to grow?

top 20% of 17 in its family for room to expand.

weight 45% of this tense · 80th percentile among 17 sector filers · read for itself

From the record

Cognex Corporation's room to grow, from the newest filed statements (fiscal 2025): cash of $263 million against no long-term debt tagged leaves 13% of its assets as net cash, top 28% of its family; cash from operations less capital spending is 23.8% of revenue (top 15%); a gross margin of 66.9% (top 9%); research spending of 14% of revenue (top 30%) (its annual report).

What it rests on

  • cash less debt against assets13.0%top 28% of its family
  • cash from operations less capital spending against revenue23.8%top 15% of its family
  • gross margin66.9%top 9% of its family
  • research spending against revenue14.0%top 30% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Growth drivers

as filed
3.9/10

What could actually drive growth from here?

bottom 39% of 17 in its family for growth drivers.

weight 33% of this tense · 39th percentile among 17 sector filers · read for its customers

From the record

Cognex Corporation's growth drivers, from the filed years to fiscal 2025: revenue grew -0.4% a year over the last three filed years against 7.3% over all 10, slowing (bottom 32% of its family); the newest year grew 8.7% (top 26%); research spending grew -0.5% a year (bottom 28%); capital spending grew -23.7% a year (bottom 21%) (its annual reports). Cognex Corporation reported 3 product lines in fiscal 2025: Standard Product and Services at $880 million (88%), Applicationof Customer Specific Solutions at $114 million (11%), License Fees Revenue at $10 million (1%); 1 of 2 grew against the year before (its annual report).

What it rests on

  • three-year growth against the whole span-7.6 points a yearbottom 32% of its family
  • the newest year's revenue growth8.7%top 26% of its family
  • three-year growth of research spending-0.5%bottom 28% of its family
  • three-year growth of capital spending-23.7%bottom 21% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Expectations vs reality

as filed
5.9/10

Did its newest year beat what its own record pointed to?

top 41% of 15 in its family for expectations against reality.

weight 22% of this tense · 59th percentile among 15 sector filers · read for its shareholders

From the record

Cognex Corporation's newest year against its own record: revenue of $994 million in fiscal 2025 came in 14% above the $872 million its prior three years' pace pointed to (top 17% of its family); net income of $114 million against a prior three-year average of $145 million (top 50%); a net margin of 11.5% against 15.5% before (bottom 43%) (its annual reports).

What it rests on

  • revenue against the prior three years' pace14.0%top 17% of its family
  • net income against the prior three years' average-21%top 50% of its family
  • net margin against its prior average-4.0 pointsbottom 43% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

The grade is the company against its own industry, from its filings. It is not a view on the share price. How the grade is made

SI Assistanton CGNX · research, not advice