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Cognex (STU:CGZ) Cyclically Adjusted Price-to-FCF : 37.66 (As of May. 26, 2024)


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What is Cognex Cyclically Adjusted Price-to-FCF?

As of today (2024-05-26), Cognex's current share price is €44.06. Cognex's Cyclically Adjusted FCF per Share for the quarter that ended in Mar. 2024 was €1.17. Cognex's Cyclically Adjusted Price-to-FCF for today is 37.66.

The historical rank and industry rank for Cognex's Cyclically Adjusted Price-to-FCF or its related term are showing as below:

STU:CGZ' s Cyclically Adjusted Price-to-FCF Range Over the Past 10 Years
Min: 27.28   Med: 58.67   Max: 128.91
Current: 37.62

During the past years, Cognex's highest Cyclically Adjusted Price-to-FCF was 128.91. The lowest was 27.28. And the median was 58.67.

STU:CGZ's Cyclically Adjusted Price-to-FCF is ranked worse than
58.74% of 933 companies
in the Hardware industry
Industry Median: 30.71 vs STU:CGZ: 37.62

The Shiller PE Ratio was first used by professor Robert Shiller. He uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings per share of a company over the past 10 years. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted Price-to-FCF. The Cyclically Adjusted FCF per Share is the average of the inflation adjusted free cash flow per share of a company over the past 10 years.

Cognex's adjusted free cash flow per share data for the three months ended in Mar. 2024 was €0.051. Add all the adjusted free cash flow per share for the past 10 years together and divide 10 will get our Cyclically Adjusted FCF per Share, which is €1.17 for the trailing ten years ended in Mar. 2024.

Shiller PE for Stocks: The True Measure of Stock Valuation


Cognex Cyclically Adjusted Price-to-FCF Historical Data

The historical data trend for Cognex's Cyclically Adjusted Price-to-FCF can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Cognex Cyclically Adjusted Price-to-FCF Chart

Cognex Annual Data
Trend Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Cyclically Adjusted Price-to-FCF
Get a 7-Day Free Trial Premium Member Only Premium Member Only 68.40 88.36 71.58 38.68 33.40

Cognex Quarterly Data
Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24
Cyclically Adjusted Price-to-FCF Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 39.99 44.68 33.37 33.40 33.48

Competitive Comparison of Cognex's Cyclically Adjusted Price-to-FCF

For the Scientific & Technical Instruments subindustry, Cognex's Cyclically Adjusted Price-to-FCF, along with its competitors' market caps and Cyclically Adjusted Price-to-FCF data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Cognex's Cyclically Adjusted Price-to-FCF Distribution in the Hardware Industry

For the Hardware industry and Technology sector, Cognex's Cyclically Adjusted Price-to-FCF distribution charts can be found below:

* The bar in red indicates where Cognex's Cyclically Adjusted Price-to-FCF falls into.



Cognex Cyclically Adjusted Price-to-FCF Calculation

Like the Shiller PE Ratio, the Cyclically Adjusted Price-to-FCF takes the Free Cash Flow per Share from the past 10 years, adjusts it for inflation, and then calculates the average. This average is then used for the P/FCF calculation. Because it considers this 10-year average, it's often referred to as the CAPFCF Ratio.

The Shiller PE Ratio was first used by professor Robert Shiller to measure the valuation of the overall market. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted Price-to-FCF.

Cognex's Cyclically Adjusted Price-to-FCF for today is calculated as

Cyclically Adjusted Price-to-FCF=Share Price/ Cyclically Adjusted FCF per Share
=44.06/1.17
=37.66

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Cognex's Cyclically Adjusted FCF per Share for the quarter that ended in Mar. 2024 is calculated as:

For example, Cognex's adjusted Free Cash Flow per Share data for the three months ended in Mar. 2024 was:

Adj_FreeCashFlowPerShare=Free Cash Flow per Share/CPI of Mar. 2024 (Change)*Current CPI (Mar. 2024)
=0.051/131.7762*131.7762
=0.051

Current CPI (Mar. 2024) = 131.7762.

Cognex Quarterly Data

Free Cash Flow per Share CPI Adj_FreeCashFlowPerShare
201406 0.048 100.560 0.063
201409 0.120 100.428 0.157
201412 0.406 99.070 0.540
201503 -0.004 99.621 -0.005
201506 -0.006 100.684 -0.008
201509 0.317 100.392 0.416
201512 0.208 99.792 0.275
201603 0.131 100.470 0.172
201606 0.095 101.688 0.123
201609 0.266 101.861 0.344
201612 0.394 101.863 0.510
201703 0.218 102.862 0.279
201706 0.183 103.349 0.233
201709 0.194 104.136 0.245
201712 0.353 104.011 0.447
201803 0.187 105.290 0.234
201806 0.046 106.317 0.057
201809 0.355 106.507 0.439
201812 0.311 105.998 0.387
201903 0.283 107.251 0.348
201906 0.277 108.070 0.338
201909 0.317 108.329 0.386
201912 0.305 108.420 0.371
202003 0.304 108.902 0.368
202006 0.053 108.767 0.064
202009 0.385 109.815 0.462
202012 0.366 109.897 0.439
202103 0.449 111.754 0.529
202106 0.424 114.631 0.487
202109 0.283 115.734 0.322
202112 0.249 117.630 0.279
202203 0.231 121.301 0.251
202206 0.202 125.017 0.213
202209 0.459 125.227 0.483
202212 0.338 125.222 0.356
202303 0.118 127.348 0.122
202306 0.134 128.729 0.137
202309 0.190 129.860 0.193
202312 0.040 129.419 0.041
202403 0.051 131.776 0.051

Add all the adjusted free cash flow per share together and divide 10 will get our Cyclically Adjusted FCF per Share.

Please note that we use the CPI data of the country/region where the company is headquartered. If the CPI data for that country/region is not available, then we will use the CPI data of the United States as default.


Cognex  (STU:CGZ) Cyclically Adjusted Price-to-FCF Explanation

Compared with the regular Price-to-Free-Cash-Flow, which works poorly for cyclical businesses, the Cyclically Adjusted Price-to-FCF smoothed out the fluctuations of free cash flow during business cycles. Therefore it is more accurate in reflecting the valuation of the company.

If a company has consistent business performance, the Cyclically Adjusted Price-to-FCF should give similar results to regular Price-to-Free-Cash-Flow.


Cognex Cyclically Adjusted Price-to-FCF Related Terms

Thank you for viewing the detailed overview of Cognex's Cyclically Adjusted Price-to-FCF provided by GuruFocus.com. Please click on the following links to see related term pages.


Cognex (STU:CGZ) Business Description

Industry
GURUFOCUS.COM » STOCK LIST » Technology » Hardware » Cognex Corp (STU:CGZ) » Definitions » Cyclically Adjusted Price-to-FCF
Traded in Other Exchanges
Address
One Vision Drive, Natick, MA, USA, 01760-2059
Cognex Corp provides machine vision products that help automate manufacturing processes. The firm's products include vision software, vision systems, vision sensors, and ID products. Vision software combines vision tools with a customer's own cameras and peripheral equipment and can help with several vision tasks, including part location, identification, measurement, and robotic guidance. Vision systems combine a camera, processor, and vision software into a single package. Vision sensors deliver simple, low-cost solutions for common vision applications, such as checking the size of parts. ID products read codes that have been applied to items during the manufacturing process. Cognex generates the largest proportion of its sales in the United States and Europe.

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