Does Cognex Stock Lead the Pack?
As of February 12, 2026, Cognex‘s (CGNX) stock has strongly outperformed its peers over the past year. However, a closer look at its high valuation within the industrial automation landscape reveals strong free cash flow and healthy revenue growth. Its operating margin, while respectable, doesn’t lead the pack, and an elevated PE ratio suggests a premium, potentially limiting upside compared to some more moderately valued competitors.
- CGNX’s 16.3% operating margin trails AME’s 26.2%, reflecting AME’s strategic focus on high-margin acquisitions and efficient cost management.
- CGNX’s 10.2% revenue growth outpaced most peers, driven by AI machine vision demand, yet lagged ROCK’s robust industrial automation.
- CGNX gained 50.8%, outperforming peers, with its 89.4 PE signaling high investor expectations for AI-driven machine vision growth.
Here’s how Cognex stacks up across size, valuation, and profitability versus key peers.
| CGNX | ROCK | TDY | ZBRA | AME | EMR | |
|---|---|---|---|---|---|---|
| Market Cap ($ Bil) | 9.8 | 1.6 | 30.3 | 13.7 | 52.8 | 81.1 |
| Revenue ($ Bil) | 1.0 | 1.4 | 6.0 | 5.4 | 7.2 | 18.2 |
| PE Ratio | 89.4 | 375.3 | 37.1 | 32.8 | 35.9 | 35.1 |
| LTM Revenue Growth | 10.2% | 21.8% | 7.4% | 8.3% | 3.7% | 3.6% |
| LTM Operating Margin | 16.3% | 10.2% | 18.5% | 14.8% | 26.2% | 19.9% |
| LTM FCF Margin | 22.0% | 7.4% | 17.3% | 15.4% | 22.9% | 14.2% |
| 12M Market Return | 50.8% | -8.7% | 27.7% | -22.3% | 24.1% | 18.0% |
For more details on Cognex, read Buy or Sell CGNX Stock. Below we compare CGNX’s growth, margin, and valuation with peers across years
Revenue Growth Comparison
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| LTM | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
| CGNX | 10.2% | – | 9.2% | -16.8% | -3.0% |
| ROCK | 21.8% | – | -5.0% | -0.9% | 3.7% |
| TDY | 7.4% | – | 0.6% | 3.2% | 18.3% |
| ZBRA | 8.3% | 8.3% | 8.7% | -20.7% | |
| AME | 3.7% | – | 5.2% | 7.3% | 10.9% |
| EMR | 3.6% | 3.0% | 15.3% | 9.9% |
Operating Margin Comparison
| LTM | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
| CGNX | 16.3% | – | 12.6% | 14.7% | 26.7% |
| ROCK | 10.2% | – | 11.8% | 11.2% | 9.4% |
| TDY | 18.5% | – | 18.4% | 18.4% | 17.8% |
| ZBRA | 14.8% | 14.8% | 15.4% | 12.8% | |
| AME | 26.2% | – | 25.6% | 25.9% | 24.4% |
| EMR | 19.9% | 19.6% | 15.2% | 18.2% |
PE Ratio Comparison
| LTM | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
| CGNX | 89.4 | – | 58.1 | 54.5 | 33.6 |
| ROCK | 375.3 | – | 11.0 | 16.3 | 30.8 |
| TDY | 37.1 | – | 29.3 | 24.7 | 26.5 |
| ZBRA | 32.8 | 29.5 | 37.7 | 47.4 | |
| AME | 35.9 | – | 34.5 | 31.6 | 32.7 |
| EMR | 35.1 | 32.6 | 36.0 | 4.2 |
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