Cognex (CGNX) vs Novanta (NOVT)
Head-to-head comparison of performance, valuation, growth, profitability and dividends. Prices delayed 15 minutes; data as of Oct 9, 2026.
Summary
Novanta (NOVT) has outperformed Cognex (CGNX) over the past year, gaining 32.7% versus a gain of 30.3%. Over five years, NOVT leads with a -15.6% price change compared with -27.8% for CGNX. Cognex is the larger company by market cap ($10.62 billion vs $5.33 billion), about 2.0 times the size.
On valuation, Cognex trades at a lower forward P/E (31.1x vs 32.3x for Novanta). Cognex pays a dividend yielding 0.53%, while Novanta does not currently pay one. Cognex converts more of its revenue into profit, with a net margin of 11.5% versus 5.5%.
Summary generated from market data by MetaCap's automated system. Methodology
Relative performance
Percent change in share price from the first common trading day shown; excludes dividends.
Head-to-head
| Metric | CGNX | NOVT |
|---|---|---|
| Share price | $63.14 | $140.94 |
| Market cap | $10.62B | $5.33B |
| 1-day change | +3.65% | +3.38% |
| YTD return | +69.29% | +14.57% |
| 1-year return | +30.29% | +32.75% |
| 5-year return | -27.84% | -15.59% |
| P/E ratio (TTM) | 60.71 | 89.20 |
| Forward P/E | 31.14 | 32.28 |
| EPS (TTM) | $1.04 | $1.58 |
| Dividend yield | 0.53% | 0.00% |
| Annual dividend | $0.335 | $0.00 |
| Revenue (latest FY) | $994.36M | $980.60M |
| Revenue growth (YoY) | +8.73% | +3.30% |
| Net income (latest FY) | $114.44M | $53.83M |
| Gross margin | 66.92% | 44.39% |
| Operating margin | 16.35% | 9.59% |
| Net margin | 11.51% | 5.49% |
| 52-week high | $72.88 | $176.38 |
| 52-week low | $34.60 | $98.27 |
| Distance from 52-week high | -13.37% | -20.09% |
| Analyst consensus | buy | strong_buy |
| Avg. price target upside | +25.30% | +38.00% |
| Average volume | 1.89M | 390.69K |
| Shares outstanding | 168.22M | 37.82M |
| Employees | 2,745 | 3,000 |
| Sector | Industrials | Miscellaneous |
| Industry | Industrial Machinery/Components | Industrial Machinery/Components |
Highlighted cells mark the higher value for growth, returns, margins and yield, and the lower value for P/E ratios. Highlighting is a mechanical comparison, not a recommendation.
Key differences
- Novanta trades at a higher earnings multiple (89.2x vs 60.7x trailing P/E).
- Cognex is more profitable, keeping 11.5 cents of every revenue dollar as net income versus 5.5 cents for Novanta.
- Cognex grew revenue faster in its latest fiscal year (+8.73% vs +3.30%).
- The two companies sit in different sectors: Cognex in Industrials and Novanta in Miscellaneous.
About Cognex
CGNX stock →Cognex Corporation provides machine vision products that capture and analyze visual information to automate manufacturing and distribution tasks in the United States, Europe, Greater China, and internationally. Its machine vision products are used to automate the manufacture and distribution of discrete items, such as mobile phones, automotive components, and e-commerce packages, by locating, identifying, inspecting, and measuring them.
Industrials · Industrial Machinery/Components · 2,745 employees
About Novanta
NOVT stock →Novanta Inc., together with its subsidiaries, provides precision medicine, precision manufacturing, medical solutions, robotics and automation solutions, and advanced surgery solutions in the United States and internationally. The company operates Automation Enabling Technologies and Medical Solutions segments.
Miscellaneous · Industrial Machinery/Components · 3,000 employees
CGNX vs NOVT FAQ
Which is bigger, Cognex or Novanta?
Cognex (CGNX) is larger, with a market capitalization of $10.62B compared with $5.33B for Novanta (NOVT).
Which stock has performed better over the past year, CGNX or NOVT?
NOVT returned +32.75% over the past 12 months, compared with +30.29% for CGNX (price return, excluding dividends). Past performance does not predict future results.
Which has the lower P/E ratio, CGNX or NOVT?
CGNX has the lower trailing P/E at 60.7, versus 89.2 for NOVT. A lower P/E is not by itself a sign of a better investment; it can reflect slower expected growth or higher risk.
Which pays a higher dividend, Cognex or Novanta?
Cognex pays a dividend yielding 0.53%, while Novanta does not currently pay a regular dividend.
Are Cognex and Novanta in the same industry?
Yes. Both are classified in the Industrial Machinery/Components industry within the Industrials sector.