Cognex Corp (CGNX) is overvalued and Fortive Corp (FTV) is overvalued.
Both trade above our estimate of their intrinsic value. FTV is the closer of the two: -170%, against -219% for CGNX.
Values as of the 22 Sept 2026 close.
Discounting its cash flows at 11.6% (average of 3 methods) values the shares at $18.46; the price of $58.97 is 219% above that value, and 67% of that value comes from beyond year five.
Leak Score 27/100 on 3 of 12 signals
Discounting its cash flows at 9.4% (average of 3 methods) values the shares at $20.74; the price of $55.95 is 170% above that value, and 74% of that value comes from beyond year five.
Leak Score 27/100 on 3 of 12 signals
| Metric | CGNX | FTV |
|---|---|---|
| Verdict | Overvalued | Overvalued |
| Price | $58.97 | $55.95 |
| Intrinsic value | $18.46 | $20.74 |
| Margin of safety | -219% | -170% |
| Leak Score | 27/100 (3/12) | 27/100 (3/12) |
| Market cap | $9.9B | $16.9B |
| Revenue growth, 5 years | 4.2% | -2.1% |
| Operating margin | 21.9% | 18.2% |
| Net margin | 16.1% | 12.4% |
| Return on equity | 11.2% | 7.3% |
| Debt to equity | 0.04 | 0.58 |
| P/E | 57.1x | 33.0x |
| Forward P/E | 29.4x | 17.2x |
| P/B | 6.1x | 2.8x |
| Dividend yield | 0.6% | 0.4% |