Cognex Corporation (CGNX)
Gross profit margin
Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
---|---|---|---|---|---|---|
Gross profit | US$ in thousands | 601,241 | 721,905 | 759,827 | 604,599 | 535,871 |
Revenue | US$ in thousands | 825,325 | 1,004,230 | 1,034,800 | 812,977 | 725,116 |
Gross profit margin | 72.85% | 71.89% | 73.43% | 74.37% | 73.90% |
December 31, 2023 calculation
Gross profit margin = Gross profit ÷ Revenue
= $601,241K ÷ $825,325K
= 72.85%
Cognex Corp.'s gross profit margin has displayed some fluctuations over the past five years. The margin was at 73.85% in 2019, slightly decreased to 74.55% in 2020, and then experienced a more significant decline to 73.26% in 2021. However, there was a slight recovery in 2022 when the margin increased to 71.75%. In the most recent year, 2023, the gross profit margin improved further to 71.79%.
Overall, the company has maintained a relatively high gross profit margin, indicating effective cost management and pricing strategies. However, the fluctuations in the margin over the years may suggest changing market dynamics, competitive pressures, or variations in production costs. Further analysis in conjunction with other financial metrics would be necessary to provide a more comprehensive assessment of Cognex Corp.'s financial performance.
Peer comparison
Dec 31, 2023