Sifting through countless of stocks in the Electronic Equipment, Instruments & Components industry can be tedious, and sometimes two stocks are just too similar to judge which is the better investment. If you’re on the fence about investing in Cognex Corporation or Novanta Inc. because you’re not sure how they measure up, it’s important to compare them on a few factors before making your decision.

Read on to learn how Cognex Corporation and Novanta Inc. compare based on key financial metrics to determine which better meets your investment needs.

About Cognex Corporation and Novanta Inc.

Cognex Corporation provides machine vision products that capture and analyze visual information to automate manufacturing and distribution tasks in the United States, Europe, Greater China, and internationally. Its machine vision products are used to automate the manufacture and distribution of discrete items, such as mobile phones, automotive components, and e-commerce packages, by locating, identifying, inspecting, and measuring them. The company offers VisionPro software, a suite of patented vision tools for traditional rule-based tools and deep learning-enabled tools for advanced programming; vision systems that combine smart cameras and software to perform a wide range of tasks, including part location, identification, measurement, assembly verification, and robotic guidance; OneVision, a cloud-based platform designed to transform how manufacturers build, train, and scale AI-powered vision applications; In-Sight product line of vision systems and sensors; QuickBuild, which allows customers to build vision applications with a graphical and flowchart-based programming interface; DataMan, an image-based barcode reader for fixed-mount and handheld models, as well as barcode verifiers; and vision accessories, such as industrial cameras, lenses, lighting, vision controllers, frame grabbers, and I/O cards. It sells its products to the automotive, logistics, packaging, consumer electronics, medical-related, semiconductor, and consumer products industries. The company was incorporated in 1981 and is headquartered in Natick, Massachusetts.

Novanta Inc., together with its subsidiaries, provides precision medicine, precision manufacturing, medical solutions, robotics and automation solutions, and advanced surgery solutions in the United States and internationally. The company operates Automation Enabling Technologies and Medical Solutions segments. The Precision Medicine and Manufacturing segment designs, manufactures, and markets laser beam steering and scanning solutions, laser sources, robotic and precision motion, robotic end-of-arm tooling, and bearing spindles. This segment serves advanced industrial processes, advanced industrial and medical robotics, other medical and life science automation applications, and medical laser procedures, such as ophthalmology applications. The Medical Solutions segment provides a range of medical grade technologies, including medical insufflators, pumps, and related disposables; imaging, identification and RFID solutions; advanced motion control solutions; and light engines, and integrated operating room technologies. The company was formerly known as GSI Group, Inc. and changed its name to Novanta Inc. in May 2016. Novanta Inc. was incorporated in 1968 and is based in Bedford, Massachusetts.

Latest Electronic Equipment, Instruments & Components and Cognex Corporation, Novanta Inc. Stock News

As of June 26, 2026, Cognex Corporation had a $11.1 billion market capitalization, compared to the Electronic Equipment, Instruments & Components median of $1.1 million. Cognex Corporation’s stock is up 85% in 2026, up 0.7% in the previous five trading days and up 116.31% in the past year.

Currently, Cognex Corporation’s price-earnings ratio is 78.3. Cognex Corporation’s trailing 12-month revenue is $1.0 billion with a 13.6% net profit margin. Year-over-year quarterly sales growth most recently was 24.3%. Analysts expect adjusted earnings to reach $1.473 per share for the current fiscal year. Cognex Corporation currently has a 0.5% dividend yield.

As of June 26, 2026, Novanta Inc. had a $5.6 billion market cap, putting it in the 69th percentile of all stocks. Novanta Inc.’s stock is up 32.4% in 2026, up 1.4% in the previous five trading days and up 25.39% in the past year.

Currently, Novanta Inc.’s price-earnings ratio is 111.5. Novanta Inc.’s trailing 12-month revenue is $1.0 billion with a 5.3% net profit margin. Year-over-year quarterly sales growth most recently was 10.4%. Analysts expect adjusted earnings to reach $3.590 per share for the current fiscal year. Novanta Inc. does not currently pay a dividend.

How We Compare Cognex Corporation and Novanta Inc. Stock Grades

Stock evaluation requires access to huge amounts of data and the knowledge and time to sift through it all, make sense of financial ratios, read income statements and analyze recent stock movements. AAII created A+ Investor, a robust data suite that condenses data research in an actionable and customizable way suitable for investors of all knowledge levels, to help investors streamline and work through such data.

AAII’s proprietary stock grades come with A+ Investor. These offer intuitive A‐F grades for each of five key investing factors: value, growth, momentum, earnings estimate revisions and quality. Here, we’ll take a closer look at Cognex Corporation and Novanta Inc.’s stock grades to see how they measure up against one another.

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Cognex Corporation and Novanta Inc. Stock Value Grades

Company	Ticker	Value
Cognex Corporation	CGNX	F
Novanta Inc.	NOVT	F

Successful stock investing involves buying low and selling high, so stock valuation is an important consideration for stock selection.

Buying stocks that are going to go up typically means buying stocks that are undervalued in the first place, although momentum investors may argue that point.

AAII’s A+ Investor Value Grade derives from a stock’s value score. The Value Score is the percentile rank of the average of the percentile ranks of the price-to-sales ratio, price-earnings ratio, enterprise-value-to-EBITDA (EV/EBITDA) ratio, shareholder yield, price-to-book-value ratio and price-to-free-cash-flow ratio. The score is variable, meaning it can consider all six ratios or, should any of the six ratios not be valid, the remaining ratios that are valid. To be assigned a Value Score, stocks must have a valid (non-null) ratio and corresponding ranking for at least two of the six valuation ratios.

Stocks with a Value Score from 81 to 100 are considered deep value, those with a score between 61 and 80 are a good value and so on.

Cognex Corporation has a Value Score of 10, which is Ultra Expensive. Novanta Inc. has a Value Score of 4, which is Ultra Expensive.

The Value Stock Winner: No Clear Winner

Neither Cognex Corporation or Novanta Inc. has a high enough value grade to be considered a “winner.” Investors who are considering these companies should do additional due diligence and research to see if either could be a good addition to their portfolio. It’s important to look at a wide range of financial metrics in order to determine if Cognex Corporation or Novanta Inc. is the better investment when it comes to value.

Cognex Corporation and Novanta Inc. Growth Grades

Company	Ticker	Growth
Cognex Corporation	CGNX	C
Novanta Inc.	NOVT	A

The foundation of growth investing is seeking out stocks of companies exhibiting strong, consistent and prolonged growth that is expected to continue into the future.

In order to compute the growth score and assign it a letter grade, the percentile ranks for each of three components‐consistency of annual sales growth, five-year sales growth rankings adjusted for extreme levels, and consistency of positive annual cash from operations‐must be determined. These three rank figures are added together, and the sum is ranked against the entire stock universe to arrive at a company’s Growth Score to create an equal distribution of grades.

The companies in the bottom 20% of the stock universe receive Growth Grades of F, considered to be very weak, while those in the top 20% receive A grades, which are considered very strong.

Cognex Corporation has a Growth Score of 56, which is Average. Novanta Inc. has a Growth Score of 89, which is Very Strong.

The Growth Grade Winner: Novanta Inc.

As you can clearly see from the Growth Grade breakdown above, Novanta Inc. has a more attractive growth grade than Cognex Corporation. For investors who focus solely on how a company is growing relative to other companies in the same industry, Novanta Inc. could be a good stock to add to their portfolio. However, it’s important for investors to analyze multiple factors based on a wide range of metrics before deciding whether to buy.

Cognex Corporation and Novanta Inc.’s Estimate Revisions Grades

Company	Ticker	Earnings Estimate
Cognex Corporation	CGNX	A
Novanta Inc.	NOVT	C

Earnings estimate revisions scores consider the magnitude of a company’s earnings surprise in its last two reported fiscal quarters. Often, positive surprises beget further positive surprises‐or at least continued sales growth (the exact opposite is generally true, too).

Estimate revisions offer an indication of what analysts are thinking about the short-term prospects of a firm. Estimate revisions are based on the statistical significance of a firm’s last two quarterly earnings surprises and the percentage change in its consensus estimate for the current fiscal year over the past month and past three months.

Cognex Corporation has a Earnings Estimate Score of 84, which is Very Positive. Novanta Inc. has a Earnings Estimate Score of 55, which is Neutral.

The Earnings Estimate Revisions Grade Winner: Cognex Corporation

As you can clearly see from the Earnings Estimate Revisions Grade breakdown above, Cognex Corporation has a better Earnings Estimate Revisions Grade than Novanta Inc.. For those who are specifically looking for companies with better short-term prospects when compared to other companies in the same industry, Cognex Corporation could be a good stock to invest in. However, it’s important to analyze multiple factors based on a wide range of metrics before deciding whether to buy.

Other Cognex Corporation and Novanta Inc. Grades

In addition to Growth, Value and Estimate Revisions, A+ Investor also provides grades for Momentum and Quality.

Momentum grades help uncover stocks experiencing anomalously high rates of return; research finds that stocks with high relative levels of momentum tend to outperform, whereas those with low levels of momentum tend to continue underperforming.

AAII’s A+ Investor Quality Grade comes from the ranking of key metrics. Specifically, the quality grade is the percentile rank of the composite of return on assets (ROA), return on invested capital (ROIC), gross profit relative to assets, buyback yield, change in total liabilities to assets, accruals, Z double prime bankruptcy risk (Z) score and F-Score.

These 2 key factors, when combined with the above, provide a holistic view into a particular stock. Further, by joining A+ Investor you can see whether Cognex Corporation and Novanta Inc. pass any of our 60+ stock screens that have outperformed the market since their creation.

So, Which Is the Better Investment, Cognex Corporation or Novanta Inc. Stock?

Overall, Cognex Corporation stock has a Value Score of 10, Growth Score of 56 and Estimate Revisions Score of 84.

Novanta Inc. stock has a Value Score of 4, Growth Score of 89 and Estimate Revisions Score of 55.

Comparing Cognex Corporation and Novanta Inc.’s grades, scores and metrics can act as a solid basis to determine whether they may be a good investment or not. You’ll also want to look at your portfolio’s asset allocation as well as your risk tolerance and financial goals to see if either of these stocks would make a good fit for you. AAII can help you figure out which investments align with your individual needs and preferences.

Investors are encouraged to do their own due diligence and research. In this way, individuals can effectively become managers of their own assets‐without having to rely on others for financial independence. You can count on AAII for timeless articles on financial planning and stock-picking, unbiased research and actionable analysis.

A+ Investor adds to our qualitative teaching with a powerful data suite to help you whittle down investment choices to find stocks, exchange-traded funds (ETFs) or mutual funds that meet your needs.

AAII Disclaimer

We make no representations or warranties that any investor will, or is likely to, achieve profits similar to those shown, because past, hypothetical or simulated performance is not necessarily indicative of future results. Before making an investment decision, you should consider your circumstances and whether the information on our content is applicable to your situation. This information was prepared in good faith, and we accept no liability for any errors or omissions. The full disclaimer can be read here.