Cognex (CGNX) FY2016 results: revenue $530 million, up 17.5% on the year
Cognex Corp. (CGNX) reported revenue of $530 million for fiscal 2016, the year ended 31 December 2016, up 17.5% on the year before. Net income was $144 million, down 23.2%, and diluted earnings per share $0.83. The figures are the company's own, from the 10-K it filed with the SEC on 14 February 2019.
Revenue
$530 million
+17.5% on the year
FY2009FY2016
Operating margin
29.1%
27.0% a year earlier
FY2009FY2016
Net income
$144 million
-23.2% on the year
FY2009FY2016
Diluted EPS
$0.83
-22.1% on the year
FY2009FY2016
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Revenue
530
451
426
+17.5%
Cost of revenue
131
103
94.1
+27.8%
Gross profit
398
348
332
+14.5%
Gross margin
75.2%
77.2%
77.9%
Research and development
78.3
69.8
55.8
+12.1%
Selling, general and administrative
166
157
149
+6.0%
Operating income
154
122
128
+26.8%
Operating margin
29.1%
27.0%
30.0%
Pre-tax income
162
127
132
+27.7%
Income tax
18.1
19.3
20.9
-6.1%
Effective tax rate
11.2%
15.2%
15.9%
Net income
144
187
121
-23.2%
Net margin
27.1%
41.5%
28.5%
Diluted EPS
$0.83
$1.06
$0.68
-22.1%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Operating cash flow
182
128
164
+41.9%
Capital expenditure
12.8
18.2
20.9
-29.7%
Free cash flow
169
110
143
+53.7%
Free cash flow margin
32.0%
24.4%
33.5%
Cash from investing
-122
-10.5
-104
Cash from financing
-29.2
-117
-42.7
Depreciation and amortisation
15.1
14.1
12.5
+6.7%
Share-based compensation
20.6
21.3
15.2
-3.4%
Buybacks
47.1
126
59.7
-62.7%
Dividends paid
25.2
18.1
0.0
+39.6%
Dividend per share
$0.30
$0.10
$0.00
+185.7%
Diluted shares, weighted
174m
176m
178m
-1.0%
Shares outstanding at period end
86m
170m
173m
-49.4%
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
963
832
736
+15.7%
Other liabilities
76.0
55.4
85.3
+37.1%
Total liabilities and equity
1,039
888
822
+17.0%
Fixed assets
54.0
53.3
46.0
+1.3%
Goodwill
95.3
81.4
77.4
+17.0%
Intangible assets
8.3
6.3
9.7
+31.6%
Investments
666
570
491
+16.9%
Cash and equivalents
79.6
52.0
55.7
+53.2%
Receivables
55.4
42.8
40.1
+29.4%
Inventory
27.0
37.3
29.2
-27.7%
Other assets
53.4
45.0
72.4
+18.7%
Total assets
1,039
888
822
+17.0%
10-K for the year ended 31 December 2016, filed 14 February 2019: the filing.