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 $9.8B against $4.2B — 2.3× the size. Vontier Corporation trades at the lower P/E: 13.0× against 55.9×. Cognex Corporation grew revenue faster over the last twelve months: 17.2% against 0.88%. Cognex Corporation has the higher net margin (16.1% vs 11.3%) and the lower return on invested capital (12.2% vs 14.3%). Both pay a dividend; Cognex Corporation yields more (0.82% vs 0.14%). Across the 23 metrics below, Cognex Corporation leads on 12 and Vontier Corporation on 11.

Valuation

Metric CGNX VNT Scientific & Technical Instruments median
P/E 55.87 12.95 35.93
P/S 9.01 1.43 4.46
P/B 6.02 3.66 3.00
Price to free cash flow 37.11 11.41 24.96
EV/EBITDA 35.29 8.23 19.60
EV/Sales 8.64 1.87 4.98
Earnings yield 1.79% 7.72% 0.53%
Free cash flow yield 2.69% 8.76% 1.12%

Profitability

Metric CGNX VNT Scientific & Technical Instruments median
Gross margin 68.87% 47.18% 45.75%
Operating margin 21.90% 18.79% 7.34%
Net margin 16.05% 11.34% 1.56%
Free cash flow margin 25.25% 12.55% 5.84%
Return on equity 11.15% 28.90% 2.87%
Return on assets 8.36% 8.28% 0.99%
Return on invested capital 12.16% 14.25% 3.88%

Growth

Metric CGNX VNT Scientific & Technical Instruments median
Revenue growth (TTM) 17.15% 0.88% 11.28%
EPS growth (last fiscal year) 9.68% 0.36% —
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 1.33 0.00
Current ratio 3.93 1.25 2.24
Net debt to EBITDA (1.75) 1.60 0.44

Dividend

Metric CGNX VNT Scientific & Technical Instruments median
Dividend yield 0.82% 0.14% 0.72%
Payout ratio 0.28 0.05 0.00

Size

Metric CGNX VNT Scientific & Technical Instruments median
Market cap 9.82b 4.18b 483.67m

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