Cognex Corporation (CGNX)

Net profit margin

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Net income	US$ in thousands	113,234	215,525	279,881	176,186	203,865
Revenue	US$ in thousands	825,325	1,004,230	1,034,800	812,977	725,116
Net profit margin		13.72%	21.46%	27.05%	21.67%	28.11%

December 31, 2023 calculation

Net profit margin = Net income ÷ Revenue
= $113,234K ÷ $825,325K
= 13.72%

The net profit margin of Cognex Corp. has shown fluctuations over the past five years. In 2019, the net profit margin was high at 28.10%, indicating that the company was efficient in generating profits relative to its revenue. However, in the following years, there was a downward trend with margins of 21.72%, 26.99%, and 21.42% in 2020, 2021, and 2022 respectively.

In 2023, there was a slight improvement in the net profit margin to 13.52%, although it remained lower compared to previous years. This decline in net profit margin could be attributed to various factors such as changes in operating expenses, cost of goods sold, or fluctuations in revenue.

Overall, Cognex Corp. should focus on monitoring and managing its expenses and revenue generation strategies to improve its net profit margin in the future.