Cognex vs Crane NXT
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KIRA’s take AI analyst
I put Cognex and Crane NXT side by side, using each one’s latest annual report. Here is what stands out:
- Crane NXT is the larger business, with $1.7B of revenue in fiscal 2025 against $994M for Cognex, about 1.7 times as much.
- Crane NXT grew revenue faster (11.4%, against 8.7%).
- Cognex kept more of each dollar of sales as operating profit (16.4% operating margin, against 14.9%).
- Cognex turned more of its sales into free cash flow (23.8% FCF margin, against 12.0%).
- Crane NXT earned a higher return on the capital invested in it (10.4%, against 8.4%).
- Investors pay more for each dollar of Cognex’s earnings: a P/E of 53.4x against 23.6x for Crane NXT.
Who comes out ahead
Of the 10 measures where higher (or lower) is clearly better, how many each company leads.
Cognex
CGNX
7/10
Gross marginOperating marginNet marginFCF marginPiotroski F-scoreNet debt / EBITDAShare count change
Crane NXT
CXT
3/10
Revenue growthReturn on capitalReturn on equity
Side by side
Best in the row
| Latest fiscal year | CGNX FY25 | CXT FY25 |
|---|---|---|
| Size | ||
| Market cap | $9.4B | $3.3B |
| Revenue | $994M | $1.7B |
| Free cash flow | $237M | $198M |
| Net income | $114M | $145M |
| Growth | ||
| Revenue growth | 8.7% | 11.4% |
| 5-year growth | 4.2% | — |
| Share count change | −1.9% | 0.4% |
| Profitability | ||
| Gross margin | 66.9% | 42.5% |
| Operating margin | 16.4% | 14.9% |
| Net margin | 11.5% | 8.8% |
| FCF margin | 23.8% | 12.0% |
| Return on capital | 8.4% | 10.4% |
| Return on equity | 7.6% | 12.5% |
| Balance sheet | ||
| Net debt | −$337M | $906M |
| Net debt / EBITDA | −1.7x | 2.6x |
| Dividends and buybacks | $206M | $39.0M |
| Valuation & quality | ||
| P/E | 53.4x | 23.6x |
| Piotroski F-score | 7 | 4 |
Ten years
Revenue
Operating margin
Free cash flow
Return on capital
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.