Cognex Corporation (CGNX) vs Vontier Corporation (VNT)

Cognex Corporation and Vontier Corporation are both Scientific & Technical Instruments companies. Cognex Corporation is the larger, with a market value of $8.0B against $5.4B — 1.5× the size. Vontier Corporation trades at the lower P/E: 17.0× against 32.8×. Cognex Corporation grew revenue faster over the last twelve months: 15.8% against 0.29%. Cognex Corporation has the higher net margin (21.5% vs 11.3%) and the higher return on invested capital (17.2% vs 14.5%). Both pay a dividend; Cognex Corporation yields more (0.72% vs 0.24%). Across the 23 metrics below, Cognex Corporation leads on 14 and Vontier Corporation on 9.

Valuation

Metric CGNX VNT Scientific & Technical Instruments median
P/E 32.78 17.05 28.21
P/S 7.08 1.86 4.46
P/B 4.63 4.67 3.10
Price to free cash flow 28.22 13.61 24.15
EV/EBITDA 27.26 9.98 18.28
EV/Sales 6.46 2.30 4.64
Earnings yield 3.05% 5.87% 0.68%
Free cash flow yield 3.54% 7.35% 1.98%

Profitability

Metric CGNX VNT Scientific & Technical Instruments median
Gross margin 69.69% 47.24% 47.24%
Operating margin 25.01% 19.41% 8.96%
Net margin 21.50% 11.28% 1.92%
Free cash flow margin 26.01% 13.65% 10.59%
Return on equity 15.07% 28.04% 2.66%
Return on assets 11.31% 8.14% 1.12%
Return on invested capital 17.15% 14.51% 4.79%

Growth

Metric CGNX VNT Scientific & Technical Instruments median
Revenue growth (TTM) 15.82% 0.29% 9.26%
EPS growth (last fiscal year) 9.68% 0.36% 13.24%
Revenue growth, 5-year CAGR 4.16% 2.60% 7.89%
Net income growth, 5-year CAGR (8.27%) 3.50% 0.00%

Health

Metric CGNX VNT Scientific & Technical Instruments median
Debt to equity 0.00 1.31 0.00
Current ratio 5.04 1.23 2.30
Net debt to EBITDA (1.75) 1.60 0.45

Dividend

Metric CGNX VNT Scientific & Technical Instruments median
Dividend yield 0.72% 0.24% 0.62%
Payout ratio 0.24 0.04 0.22

Size

Metric CGNX VNT Scientific & Technical Instruments median
Market cap 7.99b 5.39b 549.07m

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