CGNX Cognex Corp
Loading price history…
Daily prices, adjusted for splits. P/E and P/S value each day on the results published by then; a gap in P/E means the trailing year had no profit.
Scientific & Technical Instruments · Natick, MA · 2,745 employees · cognex.com
Cognex develops and sells visual automation products that record and interpret optical information to streamline industrial manufacturing and distribution workflows. Its hardware and software offerings include smart cameras, industrial barcode readers, sensors, and algorithmic tools used for guidance, part verification, and quality inspection. The company generates revenue by marketing these machine vision systems to clients in industries such as automotive, logistics, and consumer electronics.
Why it is on our list: Makes machine-vision systems that let factory and logistics machines see and inspect.
Bull case
The company converts a solid portion of its revenue into free cash flow after accounting for stock compensation. It also benefits from artificial intelligence enhancing the capabilities of its sensing equipment and machines, while standing to gain if AI integration into robotics expands.
- Turns 20% of revenue into free cash after stock pay.
- Annual revenue growth rose from +10% to +17%.
- The share price trend is rising.
Bear case
The measurements do not currently make a case against the business.
- Trades at the 77th percentile of its own valuation history.
- The price assumes about +19% a year cash-flow growth, more than the +18% a year it delivered.
- Recent evidence on “AI is moving into robots and machines” works against it.
Features
- V-ACCELERATING Growth accelerating Annual revenue growth rose from +10% to +17%. Shared by most companies we track
- F-UPSIDE Analyst upside Analysts' average target is 26% above the price.
AI impact
Sells AI to its customers Tailwind
Cognex sells machine vision sensors and systems that inspect and guide manufacturing processes. Artificial intelligence makes these vision systems more capable and easier for factory operators to deploy, though the company faces competition from free, open-source artificial intelligence tools.
Where AI helps it
- AI makes the machines and sensors it sells more capable
- Can sell AI to a large base of existing customers (minor)
- Uses AI to lower its own costs (minor)
Where AI could hurt it
- AI tools could do part of what it sells (minor)
In the company's words
We believe many potential customers in this market can benefit from our portfolio of AI-driven products, which are designed for ease of setup and deployment and are intended to address critical needs for accuracy, speed, and compliance in high-volume production environments.
We also compete with internal engineering departments of current or prospective customers, as well as open-source tools available from various companies, including tools using AI.
Assessed by AI from the company's own annual report filed 12 Feb 2026 and quarterly report filed 6 Aug 2026. A reading of the business, not a forecast or a recommendation.
Valuation position
CGNX is at the 77th percentile of its own valuation history. Depending on how far back you look, it ranges from the 49th to the 89th percentile. This is a relative measurement, not a price target or recommendation, and it assumes the business is still the one its history describes.
Price ladder
The measured price sits in the Above reference zone. These are reference zones, not buy instructions or forecasts that the prices will be reached.
This ladder rests on the company's own valuation history alone: there are too few comparable companies to cross-check it, so treat its zones as less certain.
What the price assumes
The measured price implies roughly +19.2% annual cash-flow growth, between +11.8% and +24.7% under other reasonable assumptions. Over the last three years it delivered +18.0% a year.
An estimate that depends on its assumptions, not a forecast.
Quality versus peers
Each dimension is shown on its own; they are not combined into a score.
Current analyst snapshot
Shown for reference only; not used in any measurement.
What would have to break
- Not triggered — Revenue decline
- Not triggered — Margin break
- Not available — Cash burn with rising debt
- Not triggered — Heavy dilution
- Not triggered — Warning language in filings
News
No recent brief on this company.