Cognex Corporation

CGNX · Healthcare · $10.7B mkt cap · FY2025 filings · Narrow moat

On the watchlist

Narrow moat

The four filters

Pricing power99

Median gross margin 73.6% over 10y, very stable.

Returns on capital71

Median ROIC 15.8%, above the 9% hurdle in 70% of years.

Balance-sheet safety100

Net cash position — no leverage risk.

Capital discipline29

Owner earnings -2.3%/yr, share count n/a.

Margin of safety

Above valueOn sale

815% above value

Owner earnings (normalized): $105.7M
Est. intrinsic value / share: $7.03
Recent price: $64.36
Discount to value: 815% above value

Conservative model: 9% discount rate, 0% assumed growth (capped at 4%), maintenance capex ≈ min(capex, D&A).

Moat Score history

Score history begins 2026-07-17. Check back as the record builds.

Scores are logged append-only and never overwritten — this record can't be backfilled, which is exactly why it's worth keeping.

Embed this score on your site

One iframe, no script. The badge shows CGNX’s live Moat Score, updates itself as new filings are scored, and links back here. How it works.

<iframe
  src="https://buylikebuffett.com/embed/CGNX"
  width="340" height="150" style="border:0"
  title="CGNX Moat Score — The Moat Index"
  loading="lazy"></iframe>

Scored from primary SEC filings via the public methodology. Educational only — not a recommendation to buy or sell CGNX. See the disclaimer.