Cognex Corporation (CGNX)

Pretax margin

Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Earnings before tax but after interest (EBT) US$ in thousands 135,348 250,695 318,900 186,911 162,994
Revenue US$ in thousands 825,325 1,004,230 1,034,800 812,977 725,116
Pretax margin 16.40% 24.96% 30.82% 22.99% 22.48%

December 31, 2023 calculation

Pretax margin = EBT ÷ Revenue
= $135,348K ÷ $825,325K
= 16.40%

Cognex Corp.'s pretax margin has shown variability over the past five years. The trend indicates a gradual decrease in the pretax margin from 30.75% in 2021 to 16.16% in 2023. This decline suggests a decreasing profitability before accounting for taxes. The fluctuations in the pretax margin may indicate changes in the company's cost structure, pricing strategies, or operational efficiency over the period. Further investigation into the specific factors driving these changes is recommended to assess the company's financial performance accurately.


Peer comparison

Dec 31, 2023