Cognex (CGNX) FY2020 results: revenue $811 million, up 11.8% on the year
Cognex Corp. (CGNX) reported revenue of $811 million for fiscal 2020, the year ended 31 December 2020, up 11.8% on the year before. Net income was $176 million, down 13.6%, and diluted earnings per share $1.00. The figures are the company's own, from the 10-K it filed with the SEC on 11 February 2021.
Revenue
$811 million
+11.8% on the year
FY2013FY2020
Operating margin
21.0%
19.7% a year earlier
FY2013FY2020
Net income
$176 million
-13.6% on the year
FY2013FY2020
Diluted EPS
$1.00
-13.8% on the year
FY2013FY2020
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Revenue
811
726
806
+11.8%
Cost of revenue
206
190
206
+8.8%
Gross profit
605
536
600
+12.8%
Gross margin
74.5%
73.8%
74.4%
Research and development
131
119
116
+9.7%
Selling, general and administrative
268
274
263
-2.3%
Operating income
171
143
221
+19.6%
Operating margin
21.0%
19.7%
27.4%
Pre-tax income
187
163
235
+14.7%
Income tax
10.7
-40.9
15.3
Effective tax rate
5.7%
-25.1%
6.5%
Net income
176
204
219
-13.6%
Net margin
21.7%
28.1%
27.2%
Diluted EPS
$1.00
$1.16
$1.24
-13.8%
$ 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
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
242
253
223
-4.3%
Capital expenditure
13.3
21.7
37.1
-38.8%
Free cash flow
229
231
186
-1.0%
Free cash flow margin
28.2%
31.9%
23.1%
Cash from investing
169
-157
-10.8
Cash from financing
-317
-32.2
-210
Depreciation and amortisation
26.5
24.9
21.5
+6.4%
Share-based compensation
1.4
45.6
41.1
-96.9%
Buybacks
51.0
61.7
204
-17.3%
Dividends paid
391
35.1
31.9
+1,011.8%
Dividend per share
$2.23
$0.20
$0.18
+985.4%
Diluted shares, weighted
177m
175m
177m
+0.8%
Shares outstanding at period end
176m
172m
171m
+1.9%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
1,262
1,356
1,135
-6.9%
Debt
0.0
0.0
0.0
Operating lease liabilities
18.1
12.3
0.0
+47.0%
Other liabilities
520
518
154
+0.5%
Total liabilities and equity
1,801
1,886
1,290
-4.5%
Fixed assets
79.2
89.4
91.4
-11.5%
Goodwill
244
243
113
+0.3%
Intangible assets
15.6
39.5
10.1
-60.6%
Investments
498
674
689
-26.1%
Cash and equivalents
269
171
108
+57.0%
Receivables
126
103
119
+21.5%
Inventory
60.8
60.3
83.3
+0.9%
Other assets
508
504
74.9
+0.7%
Total assets
1,801
1,886
1,290
-4.5%
10-K for the year ended 31 December 2020, filed 11 February 2021: the filing.