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Side-by-side financial comparison of COGNEX CORP (CGNX) and Ralliant Corp (RAL). Click either name above to swap in a different company.
Ralliant Corp is the larger business by last-quarter revenue ($529.1M vs $252.3M, roughly 2.1× COGNEX CORP). COGNEX CORP runs the higher net margin — 12.9% vs 7.5%, a 5.4% gap on every dollar of revenue. On growth, COGNEX CORP posted the faster year-over-year revenue change (9.9% vs -0.5%). Ralliant Corp produced more free cash flow last quarter ($126.6M vs $72.3M).
Cognex Corporation is an American manufacturer of machine vision systems, software and sensors. Cognex is headquartered in Natick, Massachusetts, USA with offices in more than 20 countries.
CGNX vs RAL — Head-to-Head
Income Statement — Q4 2025 vs Q3 2025
| Metric | | |
|---|---|---|
| Revenue | $252.3M | $529.1M |
| Net Profit | $32.7M | $39.9M |
| Gross Margin | 65.7% | 50.8% |
| Operating Margin | 14.0% | 9.8% |
| Net Margin | 12.9% | 7.5% |
| Revenue YoY | 9.9% | -0.5% |
| Net Profit YoY | 15.2% | -56.1% |
| EPS (diluted) | $0.20 | $0.35 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $252.3M | — | ||
| Q3 25 | $276.9M | $529.1M | ||
| Q2 25 | $249.1M | $503.3M | ||
| Q1 25 | $216.0M | — | ||
| Q4 24 | $229.7M | — | ||
| Q3 24 | $234.7M | $531.7M | ||
| Q2 24 | $239.3M | $533.7M | ||
| Q1 24 | $210.8M | — |
| Q4 25 | $32.7M | — | ||
| Q3 25 | $17.7M | $39.9M | ||
| Q2 25 | $40.5M | $47.6M | ||
| Q1 25 | $23.6M | — | ||
| Q4 24 | $28.3M | — | ||
| Q3 24 | $29.6M | $90.9M | ||
| Q2 24 | $36.2M | $64.8M | ||
| Q1 24 | $12.0M | — |
| Q4 25 | 65.7% | — | ||
| Q3 25 | 67.6% | 50.8% | ||
| Q2 25 | 67.4% | 49.3% | ||
| Q1 25 | 66.8% | — | ||
| Q4 24 | 68.7% | — | ||
| Q3 24 | 67.9% | 52.6% | ||
| Q2 24 | 69.6% | 51.5% | ||
| Q1 24 | 67.3% | — |
| Q4 25 | 14.0% | — | ||
| Q3 25 | 20.9% | 9.8% | ||
| Q2 25 | 17.4% | 11.7% | ||
| Q1 25 | 12.1% | — | ||
| Q4 24 | 13.4% | — | ||
| Q3 24 | 13.4% | 20.9% | ||
| Q2 24 | 16.1% | 19.7% | ||
| Q1 24 | 6.7% | — |
| Q4 25 | 12.9% | — | ||
| Q3 25 | 6.4% | 7.5% | ||
| Q2 25 | 16.3% | 9.5% | ||
| Q1 25 | 10.9% | — | ||
| Q4 24 | 12.3% | — | ||
| Q3 24 | 12.6% | 17.1% | ||
| Q2 24 | 15.1% | 12.1% | ||
| Q1 24 | 5.7% | — |
| Q4 25 | $0.20 | — | ||
| Q3 25 | $0.10 | $0.35 | ||
| Q2 25 | $0.24 | $0.42 | ||
| Q1 25 | $0.14 | — | ||
| Q4 24 | $0.17 | — | ||
| Q3 24 | $0.17 | $0.81 | ||
| Q2 24 | $0.21 | $0.57 | ||
| Q1 24 | $0.07 | — |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $262.9M | $264.2M |
| Total DebtLower is stronger | — | $1.1B |
| Stockholders' EquityBook value | $1.5B | $3.0B |
| Total Assets | $2.0B | $5.3B |
| Debt / EquityLower = less leverage | — | 0.39× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $262.9M | — | ||
| Q3 25 | $245.9M | $264.2M | ||
| Q2 25 | $179.3M | $198.6M | ||
| Q1 25 | $143.7M | — | ||
| Q4 24 | $186.1M | — | ||
| Q3 24 | $197.1M | — | ||
| Q2 24 | $176.6M | — | ||
| Q1 24 | $138.9M | — |
| Q4 25 | — | — | ||
| Q3 25 | — | $1.1B | ||
| Q2 25 | — | $1.1B | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $1.5B | — | ||
| Q3 25 | $1.5B | $3.0B | ||
| Q2 25 | $1.5B | $3.0B | ||
| Q1 25 | $1.4B | — | ||
| Q4 24 | $1.5B | — | ||
| Q3 24 | $1.6B | $4.0B | ||
| Q2 24 | $1.5B | $4.0B | ||
| Q1 24 | $1.5B | — |
| Q4 25 | $2.0B | — | ||
| Q3 25 | $2.0B | $5.3B | ||
| Q2 25 | $2.0B | $5.2B | ||
| Q1 25 | $1.9B | — | ||
| Q4 24 | $2.0B | — | ||
| Q3 24 | $2.1B | — | ||
| Q2 24 | $2.0B | — | ||
| Q1 24 | $2.0B | — |
| Q4 25 | — | — | ||
| Q3 25 | — | 0.39× | ||
| Q2 25 | — | 0.38× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $74.9M | $138.6M |
| Free Cash FlowOCF − Capex | $72.3M | $126.6M |
| FCF MarginFCF / Revenue | 28.7% | 23.9% |
| Capex IntensityCapex / Revenue | 1.0% | 2.3% |
| Cash ConversionOCF / Net Profit | 2.29× | 3.47× |
| TTM Free Cash FlowTrailing 4 quarters | $236.8M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $74.9M | — | ||
| Q3 25 | $87.5M | $138.6M | ||
| Q2 25 | $42.6M | — | ||
| Q1 25 | $40.5M | — | ||
| Q4 24 | $51.4M | — | ||
| Q3 24 | $56.3M | — | ||
| Q2 24 | $27.8M | — | ||
| Q1 24 | $13.6M | — |
| Q4 25 | $72.3M | — | ||
| Q3 25 | $86.0M | $126.6M | ||
| Q2 25 | $40.4M | — | ||
| Q1 25 | $38.0M | — | ||
| Q4 24 | $49.3M | — | ||
| Q3 24 | $51.9M | — | ||
| Q2 24 | $23.3M | — | ||
| Q1 24 | $9.6M | — |
| Q4 25 | 28.7% | — | ||
| Q3 25 | 31.1% | 23.9% | ||
| Q2 25 | 16.2% | — | ||
| Q1 25 | 17.6% | — | ||
| Q4 24 | 21.5% | — | ||
| Q3 24 | 22.1% | — | ||
| Q2 24 | 9.7% | — | ||
| Q1 24 | 4.5% | — |
| Q4 25 | 1.0% | — | ||
| Q3 25 | 0.5% | 2.3% | ||
| Q2 25 | 0.9% | — | ||
| Q1 25 | 1.2% | — | ||
| Q4 24 | 0.9% | — | ||
| Q3 24 | 1.9% | — | ||
| Q2 24 | 1.9% | — | ||
| Q1 24 | 1.9% | — |
| Q4 25 | 2.29× | — | ||
| Q3 25 | 4.95× | 3.47× | ||
| Q2 25 | 1.05× | — | ||
| Q1 25 | 1.72× | — | ||
| Q4 24 | 1.81× | — | ||
| Q3 24 | 1.90× | — | ||
| Q2 24 | 0.77× | — | ||
| Q1 24 | 1.13× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CGNX
Segment breakdown not available.
RAL
| Industrial Manufacturing | $111.1M | 21% |
| Defense And Space | $93.6M | 18% |
| Diversified Electronics | $91.0M | 17% |
| Test And Measurement | $76.8M | 15% |
| Communications | $60.7M | 11% |
| Semiconductors | $51.4M | 10% |
| Other Direct End Markets | $44.4M | 8% |
