Cognex (CGNX) FY2017 results: revenue $766 million, up 44.7% on the year
Cognex Corp. (CGNX) reported revenue of $766 million for fiscal 2017, the year ended 31 December 2017, up 44.7% on the year before. Net income was $177 million, up 23.0%, and diluted earnings per share $0.98. The figures are the company's own, from the 10-K it filed with the SEC on 14 February 2019.
Revenue
$766 million
+44.7% on the year
FY2010FY2017
Operating margin
33.8%
29.1% a year earlier
FY2010FY2017
Net income
$177 million
+23.0% on the year
FY2010FY2017
Diluted EPS
$0.98
+18.1% on the year
FY2010FY2017
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Revenue
766
530
451
+44.7%
Cost of revenue
187
131
103
+42.9%
Gross profit
579
398
348
+45.4%
Gross margin
75.6%
75.2%
77.2%
Research and development
99.2
78.3
69.8
+26.7%
Selling, general and administrative
221
166
157
+32.9%
Operating income
259
154
122
+68.3%
Operating margin
33.8%
29.1%
27.0%
Pre-tax income
267
162
127
+64.7%
Income tax
89.7
18.1
19.3
+395.1%
Effective tax rate
33.6%
11.2%
15.2%
Net income
177
144
187
+23.0%
Net margin
23.1%
27.1%
41.5%
Diluted EPS
$0.98
$0.83
$1.06
+18.1%
$ 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
FY2017
FY2016
FY2015
On the year
Last 8 years
Operating cash flow
224
182
128
+23.2%
Capital expenditure
28.8
12.8
18.2
+124.4%
Free cash flow
196
169
110
+15.5%
Free cash flow margin
25.5%
32.0%
24.4%
Cash from investing
-106
-122
-10.5
Cash from financing
-100
-29.2
-117
Depreciation and amortisation
17.0
15.1
14.1
+12.8%
Share-based compensation
31.9
20.6
21.3
+55.4%
Buybacks
124
47.1
126
+162.4%
Dividends paid
29.0
25.2
18.1
+15.2%
Dividend per share
$0.17
$0.30
$0.10
-43.3%
Diluted shares, weighted
180m
174m
176m
+3.1%
Shares outstanding at period end
86m
86m
170m
0.0%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
1,095
963
832
+13.8%
Debt
0.0
n/a
n/a
Other liabilities
193
76.0
55.4
+153.3%
Total liabilities and equity
1,288
1,039
888
+24.0%
Fixed assets
78.0
54.0
53.3
+44.6%
Goodwill
113
95.3
81.4
+18.8%
Intangible assets
10.1
8.3
6.3
+21.7%
Investments
721
666
570
+8.4%
Cash and equivalents
107
79.6
52.0
+33.8%
Receivables
119
55.4
42.8
+115.4%
Inventory
67.9
27.0
37.3
+151.7%
Other assets
71.2
53.4
45.0
+33.3%
Total assets
1,288
1,039
888
+24.0%
10-K for the year ended 31 December 2017, filed 14 February 2019: the filing.