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