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CognexCGNX +2.40%86 Net-Net Working Capital is $0.53 as of Jun. 2026. GuruFocus rates CGNX with a GF Score™ of 86/100 and a GF Value™ of $52.91 (Modestly Overvalued). The stock has 6 warning signs investors should review. Among 1,151 Hardware companies, Cognex ranks worse than 95.74% on this metric.
In calculating the Net-Net Working Capital (NNWC), Benjamin Graham assumed that a company's accounts receivable is only worth 75% its value, its inventory is only worth 50% of its value, but its liabilities have to be paid in full. In addition, Graham believed that preferred stock belongs on the liability side of the balance sheet, not as part of capital and surplus. This is a conservative way of estimating the company's value.
Cognex's Net-Net Working Capital for the quarter that ended in Jun. 2026 was $0.53.
The industry rank for Cognex's Net-Net Working Capital or its related term are showing as below:
CGNX's Price-to-Net-Net-Working-Capital is ranked worse than 95.74% of 1151
companies
in the Hardware industry
Industry Median: 8.94
vs CGNX: 117.45
Cognex (NAS:CGNX) Net-Net Working Capital Explanation
One research study, covering the years 1970 through 1983 showed that portfolios picked at the beginning of each year, and held for one year, returned 29.4 percent, on average, over the 13-year period, compared to 11.5 percent for the S&P 500 Index. Other studies of Graham's strategy produced similar results.
Benjamin Graham looked for companies whose market values were less than two-thirds of their net-net value. They are collected under our Net-Net screener.
Cognex Net-Net Working Capital Related Terms
Cognex Net-Net Working Capital Historical Data
* Premium members only.
The historical data trend for Cognex's Net-Net Working Capital 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.
CGNX vs ESE, TRMB, ST: Net-Net Working Capital Comparison
For the Scientific & Technical Instruments subindustry, Cognex's Price-to-Net-Net-Working-Capital, along with its competitors' market caps and Price-to-Net-Net-Working-Capital 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 Price-to-Net-Net-Working-Capital vs Hardware Industry
For the Hardware industry and Technology sector, Cognex's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where Cognex's Price-to-Net-Net-Working-Capital falls into.
* 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.
In calculating the Net-Net Working Capital (NNWC), Benjamin Graham assumed that a company's accounts receivable is only worth 75% its value, its inventory is only worth 50% of its value, but its liabilities have to be paid in full.
In addition, Graham believed that preferred stock belongs on the liability side of the balance sheet, not as part of capital and surplus. In "Security Analysis", preferred stock is dubbed "an imperfect creditorship position" that is best placed on the balance sheet alongside funded debt.
This is a conservative way of estimating the company's value.
What does a Net-Net Working Capital of $0.53 mean?
Cognex (CGNX) has a Net-Net Working Capital of $0.53 as of Jun. 2026. Ben Graham defined net-net working capital as the per-share sum of cash, 75% of receivables and 50% of inventory less total liabilities. View historical data on Cognex According to the industry distribution chart, Cognex ranks #1102 out of 1151 companies in the Hardware industry, placing it in the top 95.7%.
Is Cognex's Net-Net Working Capital too high?
Cognex's current Net-Net Working Capital is $0.53. The Hardware industry median Net-Net Working Capital is 8.94. Cognex's value of $0.53 is 94.1% below this industry median. Based on the distribution chart, Cognex ranks #1102 out of 1151 companies in the Hardware industry, which is in the bottom quartile relative to peers. Overall, Cognex has a GF Score™ of 86/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Cognex's Net-Net Working Capital compare to ESE and TRMB?
According to the Hardware industry distribution chart, Cognex ranks #1102 out of 1151 companies for Net-Net Working Capital. This places Cognex in the lower half of its industry. The industry median Net-Net Working Capital is 8.94. Cognex's value of $0.53 is 94.1% below this benchmark. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Net-Net Working Capital for a Hardware company?
The median Net-Net Working Capital among Hardware companies is 8.94, based on 1,151 companies in the industry. Companies in the top quartile (top 25%) have a Net-Net Working Capital significantly above this median, while those in the bottom quartile fall well below. However, Net-Net Working Capital should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Cognex's current Net-Net Working Capital of $0.53 is 94.1% below the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Net-Net Working Capital mean?
A high Net-Net Working Capital can signal that a stock is expensive relative to its fundamentals. Ben Graham defined net-net working capital as the per-share sum of cash, 75% of receivables and 50% of inventory less total liabilities. View historical data on Cognex For the Hardware industry, the median Net-Net Working Capital is 8.94 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Cognex's current Net-Net Working Capital is $0.53. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Cognex stock overvalued right now?
Based on GuruFocus' analysis, Cognex (CGNX) is currently considered Modestly Overvalued. The stock's GF Value™ is $52.91, compared to a current price of $62.25 — trading 17.7% above its estimated fair value. The current Net-Net Working Capital is $0.53 and 94.1% below the Hardware industry median of 8.94. Cognex's overall GF Score™ is 86/100 with 6 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Net-Net Working Capital calculated?
Net-Net Working Capital is calculated from a company's financial statements. For Cognex (CGNX), the current Net-Net Working Capital is $0.53 as of Jun. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Cognex (CGNX) Overvalued in 2026?
Based on GuruFocus' analysis, Cognex stock appears to be overvalued.
The current stock price of $62.25 is trading 17.7% above its estimated GF Value™ of $52.91.
GuruFocus considers Cognex to be Modestly Overvalued.
Key valuation signals for CGNX:
Net-Net Working Capital: $0.53
GF Value™: $52.91 vs. price of $62.25 (17.7% above fair value)
Industry Position: 94.1% below the Hardware median (#1102 of 1151)
No single metric tells the full story. See the CGNX stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
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 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. Geographically, it operates in United states, Europe, Greater China and others. Cognex generates the maximum proportion of its sales in the United States and Europe.
86GF Score
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