Cognex (CGNX) financial statements
Cognex reported revenue of $994M in fiscal 2025, up 7.3% a year over 9 years.
Net income was $114M and the operating margin 16.3%, against 29.1% in 2016.
Free cash flow was $237M, and the company returned $55M in dividends and $151M in net buybacks.
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Cognex's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $530M | $766M | $806M | $726M | $811M | $1.0B | $1.0B | $838M | $915M | $994M |
| Cost of revenue | $131M | $187M | $206M | $190M | $206M | $277M | $284M | $236M | $289M | $329M |
| Gross profit | $398M | $579M | $600M | $536M | $605M | $760M | $722M | $601M | $626M | $665M |
| Research and development | $78M | $99M | $116M | $119M | $131M | $135M | $141M | $139M | $140M | $139M |
| Selling, general and admin | $166M | $221M | $263M | $274M | $268M | $309M | $312M | $339M | $371M | $364M |
| Operating income | $154M | $259M | $221M | $143M | $171M | $315M | $246M | $131M | $115M | $163M |
| Pre-tax income | $162M | $266M | $235M | $163M | $187M | $319M | $251M | $135M | $131M | $183M |
| Income tax | $18M | $90M | $15M | -$41M | $11M | $39M | $35M | $22M | $25M | $68M |
| Net income | $144M | $177M | $219M | $204M | $176M | $280M | $216M | $113M | $106M | $114M |
| EPS (diluted) | $0.83 | $0.98 | $1.24 | $1.16 | $1.00 | $1.56 | $1.23 | $0.65 | $0.62 | $0.68 |
| Diluted shares | 174M | 180M | 177M | 175M | 177M | 180M | 175M | 173M | 173M | 169M |
| Gross margin | 75.2% | 75.6% | 74.4% | 73.8% | 74.5% | 73.3% | 71.8% | 71.8% | 68.4% | 66.9% |
| Operating margin | 29.1% | 33.8% | 27.4% | 19.7% | 21.0% | 30.4% | 24.5% | 15.6% | 12.6% | 16.3% |
| Net margin | 27.1% | 23.1% | 27.2% | 28.1% | 21.7% | 27.0% | 21.4% | 13.5% | 11.6% | 11.5% |
Balance sheet
Fiscal years, from Cognex's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $421M | $405M | $536M | $412M | $372M | $324M | $400M | $332M | $246M | $337M |
| Receivables | $55M | $119M | $119M | $103M | $126M | $130M | $125M | $114M | $143M | $147M |
| Inventory | $27M | $68M | $83M | $60M | $61M | $113M | $122M | $162M | $158M | $138M |
| Total current assets | $526M | $630M | $780M | $607M | $602M | $640M | $718M | $679M | $613M | $697M |
| Property, plant and equipment | $54M | $78M | $91M | $89M | $79M | $78M | $80M | $106M | $98M | $86M |
| Goodwill | $95M | $113M | $113M | $243M | $244M | $242M | $243M | $393M | $385M | $386M |
| Total assets | $1.0B | $1.3B | $1.3B | $1.9B | $1.8B | $2.0B | $2.0B | $2.0B | $2.0B | $2.0B |
| Total current liabilities | $66M | $113M | $91M | $120M | $132M | $189M | $188M | $152M | $169M | $184M |
| Total liabilities | $76M | $192M | $154M | $530M | $538M | $574M | $520M | $513M | $475M | $525M |
| Shareholders' equity | $963M | $1.1B | $1.1B | $1.4B | $1.3B | $1.4B | $1.4B | $1.5B | $1.5B | $1.5B |
| Net debt | -$80M | -$107M | -$108M | -$171M | -$269M | -$186M | -$181M | -$203M | -$186M | -$263M |
Cash flow
Fiscal years, from Cognex's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $182M | $224M | $223M | $253M | $242M | $314M | $243M | $113M | $149M | $246M |
| Capital spending | $13M | $29M | $37M | $22M | $13M | $15M | $20M | $23M | $15M | $9M |
| Free cash flow | $169M | $196M | $186M | $232M | $229M | $299M | $224M | $90M | $134M | $237M |
| Stock-based compensation | $21M | $32M | $41M | $46M | $1M | $44M | $55M | $55M | $52M | $49M |
| Dividends paid | $25M | $29M | $32M | $35M | $391M | $43M | $46M | $49M | $52M | $55M |
| Share buybacks (net) | -$47M | -$124M | -$204M | -$62M | -$51M | -$162M | -$204M | -$80M | -$67M | -$151M |
| Free cash flow margin | 32.0% | 25.5% | 23.1% | 31.9% | 28.2% | 28.8% | 22.2% | 10.7% | 14.7% | 23.8% |
| Dividends per share | $0.14 | $0.16 | $0.18 | $0.20 | $2.21 | $0.24 | $0.26 | $0.28 | $0.30 | $0.32 |
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Open CGNX in InvestinglyQuestions
What was Cognex's revenue in 2025?
$994M in fiscal 2025, from its 10-K filing.
How much free cash flow does Cognex generate?
$237M in fiscal 2025 (operating cash flow minus capital spending).
From Cognex's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.