Cognex Corporation (CGNX) vs Keysight Technologies Inc. (KEYS)

Cognex Corporation and Keysight Technologies Inc. are both Scientific & Technical Instruments companies. Keysight Technologies Inc. is the larger, with a market value of $44.4B against $8.0B — 5.6× the size. Cognex Corporation trades at the lower P/E: 32.8× against 36.9×. Keysight Technologies Inc. grew revenue faster over the last twelve months: 25.5% against 15.8%. Cognex Corporation has the higher net margin (21.5% vs 19.1%) and the higher return on invested capital (17.2% vs 12.9%). Across the 22 metrics below, Cognex Corporation leads on 15 and Keysight Technologies Inc. on 7.

Valuation

Metric CGNX KEYS Scientific & Technical Instruments median
P/E 32.78 36.94 28.21
P/S 7.08 7.05 4.46
P/B 4.63 7.06 3.10
Price to free cash flow 28.22 31.11 24.15
EV/EBITDA 27.26 26.85 18.28
EV/Sales 6.46 7.04 4.64
Earnings yield 3.05% 2.71% 0.68%
Free cash flow yield 3.54% 3.21% 1.98%

Profitability

Metric CGNX KEYS Scientific & Technical Instruments median
Gross margin 69.69% 64.69% 47.24%
Operating margin 25.01% 20.25% 8.96%
Net margin 21.50% 19.14% 1.92%
Free cash flow margin 26.01% 22.67% 10.59%
Return on equity 15.07% 20.59% 2.66%
Return on assets 11.31% 11.16% 1.12%
Return on invested capital 17.15% 12.85% 4.79%

Growth

Metric CGNX KEYS Scientific & Technical Instruments median
Revenue growth (TTM) 15.82% 25.54% 9.26%
EPS growth (last fiscal year) 9.68% 39.32% 13.24%
Revenue growth, 5-year CAGR 4.16% 4.95% 7.89%
Net income growth, 5-year CAGR (8.27%) 6.27% 0.00%

Health

Metric CGNX KEYS Scientific & Technical Instruments median
Debt to equity 0.00 0.38 0.00
Current ratio 5.04 2.02 2.30
Net debt to EBITDA (1.75) 0.57 0.45

Dividend

Metric CGNX KEYS Scientific & Technical Instruments median
Dividend yield 0.72% — 0.62%
Payout ratio 0.24 — 0.22

Size

Metric CGNX KEYS Scientific & Technical Instruments median
Market cap 7.99b 44.37b 549.07m

Compare with another peer

Any metric, up to five companies and an Excel export Powerpack