COGNEX CORPORATION Reports Second Quarter Earnings Results for FY2023
August 23, 2023
🌥️Earnings Overview
On August 3 2023, Cognex Corporation ($NASDAQ:CGNX) released their financial results for the second quarter of FY2023, closing on June 30 2023. Total revenue was USD 242.5 million, representing a reduction of 11.7% from the same quarter in the previous year. Additionally, net income dropped 2.4% to USD 57.5 million from the same period in the prior year.
Market Price
The stock opened at $49.6 and closed at $51.0, which was a slight decrease from its prior closing price of $51.0. COGNEX CORPORATION made significant progress during the quarter, launching several new products, expanding into new markets, and investing in research and development. They also made strategic acquisitions to expand their global presence. Overall, the company is in a strong position to continue to drive growth over the coming quarters. Investors remain optimistic on the company’s potential to deliver strong returns in the future. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Cognex Corporation. More…
| Total Revenues | Net Income | Net Margin |
| 892.69 | 172.38 | 18.5% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Cognex Corporation. More…
| Operations | Investing | Financing |
| 207.18 | -68.56 | -138.57 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Cognex Corporation. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 2k | 517.65 | 8.59 |
Key Ratios Snapshot
Some of the financial key ratios for Cognex Corporation are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 9.0% | 18.1% | 20.6% |
| FCF Margin | ROE | ROA |
| 21.1% | 7.9% | 5.8% |
Analysis
At GoodWhale, we recently conducted a financial review of COGNEX CORPORATION. After closely examining their financial statements, we have determined that this company is a medium risk investment. We considered several different aspects, including profitability, liquidity, and asset management. We identified two risk warnings on the income sheet and balance sheet of COGNEX CORPORATION. These risks may indicate future financial issues for the company, and should be taken into account when making investment decisions. To get more information on these warnings, register with us to check out the full findings of our analysis. More…
Peers
Cognex Corp is in competition with Henan Thinker Automatic Equipment Co Ltd, Quantum Computing Inc, and Faro Technologies Inc. All four of these companies are leaders in the development and manufacturing of automatic equipment and software for a variety of industries. Cognex Corp has a strong focus on research and development, which has allowed them to stay ahead of the competition and maintain a leading market share.
– Henan Thinker Automatic Equipment Co Ltd ($SHSE:603508)
Henan Thinker Automatic Equipment Co Ltd is a company that manufactures and sells automatic equipment. The company has a market capitalization of 4.7 billion as of 2022 and a return on equity of 5.64%. The company’s products include automatic machines for various industries such as food and beverage, pharmaceutical, and chemical. The company also provides services such as installation, training, and maintenance.
– Quantum Computing Inc ($NASDAQ:QUBT)
Quantum Computing Inc is a publicly traded company that designs, manufactures, and markets quantum computers. As of 2022, the company has a market capitalization of 69.84 million and a return on equity of -25.37%. The company’s quantum computers are based on the principles of quantum mechanics and are used for various applications such as data security, early detection of disease, and large-scale simulation.
– Faro Technologies Inc ($NASDAQ:FARO)
Faro Technologies Inc is a publicly traded company that provides 3D measurement, imaging, and realization solutions. Its products are used in a variety of industries, including automotive, aerospace, construction, and manufacturing. The company has a market cap of 490.95M as of 2022 and a return on equity of -3.5%.
Summary
Investors may be disappointed by the results of Cognex Corporation’s second quarter of FY2023, with total revenue decreasing 11.7% year-over-year. Net income also declined 2.4%. It is unclear what factors impacted this performance, but investors should continue to monitor the company’s financials as they look to identify potential opportunities and risks. Cognex Corporation will need to take steps to improve their financial performance in order to appeal to investors, such as investing in new technologies or expanding into new markets.
