Cognex (CGNX) FY2023 results: revenue $838 million, down 16.8% on the year
Cognex Corp. (CGNX) reported revenue of $838 million for fiscal 2023, the year ended 31 December 2023, down 16.8% on the year before. Net income was $113 million, down 47.5%, and diluted earnings per share $0.65. The figures are the company's own, from the 10-K it filed with the SEC on 15 February 2024.
Revenue
$838 million
-16.8% on the year
FY2016FY2023
Operating margin
15.6%
24.5% a year earlier
FY2016FY2023
Net income
$113 million
-47.5% on the year
FY2016FY2023
Diluted EPS
$0.65
-47.2% on the year
FY2016FY2023
this yearthe year beforeHover a bar for its figure.
$ 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
FY2023
FY2022
FY2021
On the year
Last 8 years
Operating cash flow
113
243
314
-53.6%
Capital expenditure
23.1
19.7
15.5
+17.3%
Free cash flow
89.8
224
299
-59.8%
Free cash flow margin
10.7%
22.2%
28.8%
Cash from investing
32.3
-4.5
-253
Cash from financing
-126
-240
-142
Depreciation and amortisation
21.9
19.6
20.3
+11.5%
Share-based compensation
54.8
54.5
43.8
+0.5%
Buybacks
79.8
204
162
-60.9%
Dividends paid
49.1
45.9
43.3
+6.9%
Dividend per share
$0.29
$0.27
$0.24
+7.9%
Diluted shares, weighted
173m
175m
180m
-0.8%
Shares outstanding at period end
172m
173m
175m
-0.6%
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
1,505
1,438
1,430
+4.6%
Debt
0.0
0.0
0.0
Operating lease liabilities
69.0
31.3
17.8
+120.4%
Other liabilities
444
488
556
-9.1%
Total liabilities and equity
2,018
1,958
2,004
+3.0%
Fixed assets
106
79.7
77.5
+32.8%
Goodwill
393
243
242
+62.0%
Intangible assets
113
12.4
11.9
+809.9%
Investments
374
673
721
-44.5%
Cash and equivalents
203
181
186
+11.7%
Receivables
114
125
130
-9.0%
Inventory
162
122
113
+32.5%
Other assets
553
521
522
+6.1%
Total assets
2,018
1,958
2,004
+3.0%
10-K for the year ended 31 December 2023, filed 15 February 2024: the filing.