COGNEX CORP (CGNX)

Industrial Instruments For Measurement, Display, and Control

Latest Price

$65.24

TTM P/E

Normalized P/E

73.51

Div Yield

0.38%

Book Value

8.88

P/B Ratio

7.35

Valuation metrics

EPS: $0.68

Book value / share: $8.93

Formula: √(22.5 × EPS × BVPS)

Graham Number

$11.69

82% downside

Norm. op. income: $163M (median of 7yr)

Tax rate: 15%

Discount rate: 10%

Growth assumption: zero (EPV is a no-growth value)

Earnings Power Value

$9.83

85% downside

Base FCF: $224M (median of recent 5yr)

Growth: 12%/yr (median YOY, capped at 25%)

Discount rate: 10%

Terminal growth: 3%

Projection horizon: 10 years

DCF Fair Value

$39.95

39% downside

EPS: $0.68

Target P/E: 74×

Formula: EPS × P/E

P/E Fair Value

$50.32

23% downside

90.0% held by institutions

Institution	Shares	Value	Ownership %	Change	Filing Date
BlackRock, Inc.	16.24M	$795.0M	9.75%	-35.0K	2026-03-31
VANGUARD PORTFOLIO MANAGEMENT LLC	10.37M	$508.0M	6.23%	--	2026-03-31
VANGUARD CAPITAL MANAGEMENT LLC	7.43M	$364.0M	4.46%	--	2026-03-31
Pictet Asset Management Holding SA	6.67M	$326.0M	4.01%	-340.2K	2026-03-31
NORDEA INVESTMENT MANAGEMENT AB	6.14M	$292.0M	3.69%	-1.96M	2026-03-31
STATE STREET CORP	5.26M	$257.0M	3.16%	+47.7K	2026-03-31
PRICE T ROWE ASSOCIATES INC /MD/	4.74M	$232.0M	2.85%	-576.9K	2026-03-31
GEODE CAPITAL MANAGEMENT, LLC	4.70M	$230.0M	2.82%	+748.4K	2026-03-31
Invesco Ltd.	2.99M	$146.0M	1.79%	+2.59M	2026-03-31
JANUS HENDERSON GROUP PLC	2.66M	$130.0M	1.60%	+1.19M	2026-03-31