Cognex Corporation (CGNX)

Financial leverage ratio

		Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Total assets	US$ in thousands	2,017,810	1,989,900	1,998,110	1,974,070	1,958,140	1,900,240	1,943,080	1,934,120	2,003,660	2,048,800	2,024,920	1,908,960	1,800,700	2,060,520	1,934,860	1,885,080	1,885,940	1,390,450	1,349,920	1,353,770
Total stockholders’ equity	US$ in thousands	1,504,750	1,488,600	1,480,460	1,446,330	1,438,390	1,389,220	1,389,980	1,358,740	1,430,090	1,492,960	1,429,450	1,357,000	1,262,200	1,505,830	1,376,480	1,327,490	1,355,710	1,239,220	1,191,640	1,188,860
Financial leverage ratio		1.34	1.34	1.35	1.36	1.36	1.37	1.40	1.42	1.40	1.37	1.42	1.41	1.43	1.37	1.41	1.42	1.39	1.12	1.13	1.14

December 31, 2023 calculation

Financial leverage ratio = Total assets ÷ Total stockholders’ equity
= $2,017,810K ÷ $1,504,750K
= 1.34

The financial leverage ratio of Cognex Corp. has shown a slight fluctuation over the past eight quarters. Starting at 1.42 in Q1 2022, the ratio decreased gradually to reach its lowest point at 1.34 in Q4 2023. This indicates that the company's reliance on debt in its capital structure has slightly decreased over the period. The ratio remained relatively stable around 1.34 to 1.36 for the most recent four quarters, suggesting a consistent level of financial leverage. Overall, Cognex Corp. has maintained a moderate level of financial leverage, which may indicate a balanced mix of equity and debt in its financing strategy.