Badger Meter, Inc. (BMI) vs Cognex Corporation (CGNX)

Badger Meter, Inc. and Cognex Corporation are both Scientific & Technical Instruments companies. Cognex Corporation is the larger, with a market value of $8.0B against $4.6B — 1.8× the size. Cognex Corporation trades at the lower P/E: 32.8× against 36.3×. Cognex Corporation grew revenue faster over the last twelve months: 15.8% against −2.21%. Cognex Corporation has the higher net margin (21.5% vs 14.4%) and the lower return on invested capital (17.2% vs 17.7%). Both pay a dividend; Badger Meter, Inc. yields more (1.04% vs 0.72%). Across the 22 metrics below, Cognex Corporation leads on 12 and Badger Meter, Inc. on 10.

Valuation

Metric BMI CGNX Scientific & Technical Instruments median
P/E 36.26 32.78 28.21
P/S 5.15 7.08 4.46
P/B 6.96 4.63 3.10
Price to free cash flow 31.85 28.22 24.15
EV/EBITDA 21.98 27.26 18.28
EV/Sales 5.07 6.46 4.64
Earnings yield 2.76% 3.05% 0.68%
Free cash flow yield 3.14% 3.54% 1.98%

Profitability

Metric BMI CGNX Scientific & Technical Instruments median
Gross margin 41.64% 69.69% 47.24%
Operating margin 18.76% 25.01% 8.96%
Net margin 14.36% 21.50% 1.92%
Free cash flow margin 16.16% 26.01% 10.59%
Return on equity 18.70% 15.07% 2.66%
Return on assets 13.17% 11.31% 1.12%
Return on invested capital 17.72% 17.15% 4.79%

Growth

Metric BMI CGNX Scientific & Technical Instruments median
Revenue growth (TTM) (2.21%) 15.82% 9.26%
EPS growth (last fiscal year) 13.24% 9.68% 13.24%
Revenue growth, 5-year CAGR 16.59% 4.16% 7.89%
Net income growth, 5-year CAGR 23.48% (8.27%) 0.00%

Health

Metric BMI CGNX Scientific & Technical Instruments median
Debt to equity 0.00 0.00 0.00
Current ratio 2.48 5.04 2.30
Net debt to EBITDA (1.04) (1.75) 0.45

Dividend

Metric BMI CGNX Scientific & Technical Instruments median
Dividend yield 1.04% 0.72% 0.62%
Payout ratio 0.38 0.24 0.22

Size

Metric BMI CGNX Scientific & Technical Instruments median
Market cap 4.56b 7.99b 549.07m

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