Cognex Corporation CGNX

Name: CGNX Crucible Score
Creator: Kaladin Capital Intelligence

UnknownUnknownN/A📅 Scored March 17, 2026

Price at analysis: $50.40

Crucible Score

44.5

C-

Quality × Value Composite

KQI — Quality

55.6

Fundamental Quality Index

KVI — Value

31.0

D-

Valuation Attractiveness Index

Crucible Verdict — CGNX

Cognex Corporation (CGNX) presents a classic quality-value disconnect, with solid financial metrics (75 quality score) undermined by anemic growth prospects and poor value fundamentals. The stock trades near fair value at $50, but CGNX's 37 growth profile and concerning insider selling activity suggest limited upside potential despite the company's strong earnings consistency.

— Kal, Kaladin Capital Intelligence

◆ KQI Quality Dimensions

Financial Quality

74.8

Growth Profile

37.2

Moat Durability

58.5

Management Effectiveness

44.8

Diversification & Resilience

54.2

Market Position

58.0

Weakest dimension: Growth Profile (37.2)

◆ KVI Value Dimensions

DCF Margin of Safety

47.2

FCF Yield & Cash Returns

27.4

Relative Valuation

18.9

Growth-Adjusted Value

22.0

Historical Valuation

24.1

Macro Context

33.1

◆ DCF Valuation Scenarios

Bear Case

$30.12

Base Case

$50.85

Bull Case

$79.44

Price at Analysis

$50.40

Scenario	Fair Value	Rev CAGR (5yr)	Terminal Margin	WACC
🔴 Bear	$30.12	4.0%	18.0%	12.2%
🟢 Base	$50.85	7.0%	22.0%	11.7%
🟢 Bull	$79.44	10.0%	27.0%	11.2%

Key Assumptions: WACC derived from CAPM using 4.39% risk-free rate, 1.47 beta, and 5.25% ERP (base), yielding ~11.7% base WACC with +/-50bps for bear/bull. Revenue growth anchored to recent 5-year CAGR of ~1% but reflecting cyclical recovery potential in machine vision; operating margins ranged 12.6%-30.4% historically with EBITDA margins averaging ~22%, so terminal operating margins set conservatively at 18%-27% across scenarios. Tax rate normalized to 20% reflecting recent trend away from the anomalous 37% year, and capex intensity held at ~1.8% of revenue consistent with asset-light model.

◆ Financial Snapshot

Profitability

Gross Margin66.9%

Operating Margin16.3%

Net Margin11.5%

ROIC5.4%

ROE13.6%

Balance Sheet

Balance SheetCR: 3.80

Cash ConversionFCF/EPS: 2.09x

Capital IntensityCapex/Rev: 0.9%

Altman Z-Score10.75 (Safe)

Piotroski F-Score7/9 (Good)

Growth

Revenue CAGR-1.0% CAGR

Earnings CAGR-20.0% CAGR

Growth ConsistencyCV: 2.05

Segment Breadth1/2 growing (50%)

Quarterly TrendRev∆, Margin∆, WC↓, Exp↓

Earnings CredibilityConsistent Beater

◆ Analyst Consensus & Leadership

Leadership & Governance

CEORob Amen · 3 years

CEO Ownership1.7%

Compensation81% performance-based

Insider ActivitySelling

Capital AllocationROIC 5.4% vs WACC 12.6%

Earnings Beat Rate88% (19/22)

◆ Related Companies in Our Universe

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ADBE81.8A-NICE80.7A-DECK79.9A-INTU79.9A-EXEL78.3A-MTCH78.2A-TTD78.0B+

Methodology All Scores Crucible Briefs Performance @KaladinCI

Analysis conducted March 17, 2026 based on most recent SEC filings. Updated quarterly, after new SEC filings.

Point-in-time fundamental analysis. Not investment advice. Scores reflect company quality and valuation at time of analysis and may not reflect current market conditions.