Cognex Corporation (CGNX)
Debt-to-capital ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Long-term debt | US$ in thousands | — | — | — | — | — |
| Total stockholders’ equity | US$ in thousands | 1,504,750 | 1,438,390 | 1,430,090 | 1,262,200 | 1,355,710 |
| Debt-to-capital ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
December 31, 2023 calculation
Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $—K ÷ ($—K + $1,504,750K)
= 0.00
The debt-to-capital ratio of Cognex Corp. has consistently been 0.00 for the past five years, indicating that the company has not utilized debt to finance its operations or growth. A debt-to-capital ratio of 0.00 means that the company's capital structure is entirely equity-funded, with no debt in the mix. This could suggest that Cognex Corp. has opted for a conservative capital structure, avoiding the financial risks and obligations associated with debt financing. It also indicates that the company may have had sufficient internal resources or strong cash flows to support its operations and investments without resorting to borrowing. Overall, the steady 0.00 debt-to-capital ratio reflects a prudent and stable financial strategy employed by Cognex Corp.
Peer comparison
Dec 31, 2023