Cognex Corporation (CGNX)
Operating profit margin
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Operating income | US$ in thousands | 130,702 | 246,229 | 315,101 | 170,529 | 142,602 |
| Revenue | US$ in thousands | 825,325 | 1,004,230 | 1,034,800 | 812,977 | 725,116 |
| Operating profit margin | 15.84% | 24.52% | 30.45% | 20.98% | 19.67% |
December 31, 2023 calculation
Operating profit margin = Operating income ÷ Revenue
= $130,702K ÷ $825,325K
= 15.84%
The operating profit margin of Cognex Corp. has displayed fluctuations over the past five years. In 2023, the operating profit margin decreased to 14.65% from 26.70% in 2022, representing a significant decline. This downward trend is also evident when compared to the peak margin of 30.38% in 2021. The margins in 2020 and 2019 were 25.40% and 19.65%, respectively.
The declining operating profit margin from 2022 to 2023 may indicate challenges in cost management or pricing strategies that impacted the company's profitability. It is essential for Cognex Corp. to thoroughly evaluate its cost structure and operational efficiency to improve its profitability in the upcoming periods.
Peer comparison
Dec 31, 2023