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 $27.2B against $8.0B — 3.4× the size. Teledyne Technologies Incorporated trades at the lower P/E: 28.2× against 32.8×. Cognex Corporation grew revenue faster over the last twelve months: 15.8% against 8.57%. Cognex Corporation has the higher net margin (21.5% vs 15.8%) and the higher return on invested capital (17.2% vs 6.47%). 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 32.78 28.21 28.21
P/S 7.08 4.38 4.46
P/B 4.63 2.57 3.10
Price to free cash flow 28.22 24.90 24.15
EV/EBITDA 27.26 18.25 18.28
EV/Sales 6.46 4.61 4.64
Earnings yield 3.05% 3.54% 0.68%
Free cash flow yield 3.54% 4.02% 1.98%

Profitability

Metric CGNX TDY Scientific & Technical Instruments median
Gross margin 69.69% 43.60% 47.24%
Operating margin 25.01% 20.00% 8.96%
Net margin 21.50% 15.75% 1.92%
Free cash flow margin 26.01% 17.60% 10.59%
Return on equity 15.07% 9.47% 2.66%
Return on assets 11.31% 6.64% 1.12%
Return on invested capital 17.15% 6.47% 4.79%

Growth

Metric CGNX TDY Scientific & Technical Instruments median
Revenue growth (TTM) 15.82% 8.57% 9.26%
EPS growth (last fiscal year) 9.68% 9.70% 13.24%
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 0.18 0.00
Current ratio 5.04 2.31 2.30
Net debt to EBITDA (1.75) 1.43 0.45

Dividend

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

Size

Metric CGNX TDY Scientific & Technical Instruments median
Market cap 7.99b 27.24b 549.07m

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