Cognex Corporation (CGNX) vs Teledyne Technologies Incorporated (TDY)

Cognex Corporation and Teledyne Technologies Incorporated are both Scientific & Technical Instruments companies. Teledyne Technologies Incorporated is the larger, with a market value of $28.4B against $9.8B — 2.9× the size. Teledyne Technologies Incorporated trades at the lower P/E: 29.7× against 55.9×. Cognex Corporation grew revenue faster over the last twelve months: 17.2% against 7.87%. Cognex Corporation has the higher net margin (16.1% vs 15.3%) and the higher return on invested capital (12.2% vs 6.15%). Across the 22 metrics below, Cognex Corporation leads on 11 and Teledyne Technologies Incorporated on 11.

Valuation

Metric CGNX TDY Scientific & Technical Instruments median
P/E 55.87 29.65 35.93
P/S 9.01 4.46 4.46
P/B 6.02 2.60 3.00
Price to free cash flow 37.11 24.90 24.96
EV/EBITDA 35.29 19.04 19.60
EV/Sales 8.64 4.73 4.98
Earnings yield 1.79% 3.37% 0.53%
Free cash flow yield 2.69% 4.02% 1.12%

Profitability

Metric CGNX TDY Scientific & Technical Instruments median
Gross margin 68.87% 43.34% 45.75%
Operating margin 21.90% 19.45% 7.34%
Net margin 16.05% 15.29% 1.56%
Free cash flow margin 25.25% 17.92% 5.84%
Return on equity 11.15% 9.16% 2.87%
Return on assets 8.36% 6.41% 0.99%
Return on invested capital 12.16% 6.15% 3.88%

Growth

Metric CGNX TDY Scientific & Technical Instruments median
Revenue growth (TTM) 17.15% 7.87% 11.28%
EPS growth (last fiscal year) 9.68% 9.70% —
Revenue growth, 5-year CAGR 4.16% 14.66% 7.89%
Net income growth, 5-year CAGR (8.27%) 17.36% 0.00%

Health

Metric CGNX TDY Scientific & Technical Instruments median
Debt to equity 0.00 0.19 0.00
Current ratio 3.93 2.18 2.24
Net debt to EBITDA (1.75) 1.43 0.44

Dividend

Metric CGNX TDY Scientific & Technical Instruments median
Dividend yield 0.82% — 0.72%
Payout ratio 0.28 0.00 0.00

Size

Metric CGNX TDY Scientific & Technical Instruments median
Market cap 9.82b 28.37b 483.67m

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