CGNX — Valuation Models

Interactive models with editable assumptions. All calculations run client-side.

Valuation Summary

Model	Intrinsic Value	vs Price ($53.83)
DCF	$44.41	-17.5%
Graham Number	$11.69	-78.3%
Reverse DCF	—	implied g: 21.5%
DDM	$6.80	-87.4%
EV/EBITDA	$53.83	+0.0%

Values reflect default assumptions. Adjust inputs in each model below to update.

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $190.51M

Near-term growth (yrs 1–5)(%)Rev: 9.9% / EPS: 18.0%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 12.63%

Computed WACC: 12.63%

Cost of equity (Re)12.74%(Rf 4.30% + β 1.53 × ERP 5.50%)

Cost of debt (Rd)0.00%(no debt / unavailable → 0%)

Tax rate (T)21.00%(US statutory fallback)

Equity weight (E/V)99.15%

Debt weight (D/V)0.85%

Results

Intrinsic Value / share$27.25

Current Price$53.83

Upside / Downside-49.4%

Net Debt (used)-$260.38M

Sensitivity: WACC (rows) × Near-term g (cols)

WACC \ Near-term	10.0%	14.0%	18.0%	22.0%	26.0%
7.0%	$47.79	$56.33	$66.13	$77.31	$90.02
8.0%	$38.72	$45.50	$53.26	$62.12	$72.19
9.0%	$32.47	$38.04	$44.41	$51.68	$59.92
10.0%	$27.92	$32.61	$37.97	$44.08	$51.00
11.0%	$24.47	$28.49	$33.08	$38.31	$44.24

2 — Graham Number

Assumptions

MultiplierGraham used 22.5 (15× P/E × 1.5× P/B)

EPS (trailing)($)Yahoo: $0.68

Book Value / share($)Yahoo: $8.93

Results

Graham Number$11.69

Current Price$53.83

Margin of Safety-78.3%

Formula: √(22.5 × max(0,EPS) × max(0,BVPS))

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 12.63%

Terminal growth rate(%)

Computed WACC: 12.63%

Cost of equity (Re)12.74%(Rf 4.30% + β 1.53 × ERP 5.50%)

Cost of debt (Rd)0.00%(no debt / unavailable → 0%)

Tax rate (T)21.00%(US statutory fallback)

Equity weight (E/V)99.15%

Debt weight (D/V)0.85%

Results

Current Price$53.83

Implied Near-term FCF Growth31.7%

Historical Revenue Growth9.9%

Historical Earnings Growth18.0%

Base FCF (TTM)$190.51M

Implied growth is the FCF growth rate (yrs 1–5) that makes the DCF intrinsic value equal the current price. Long-term growth is set to half the implied near-term rate.

4 — Dividend Discount Model (DDM)

Assumptions

Annual dividend D0($/share)Yahoo: $0.33

Dividend growth rate (g)(%)

Required return (r)(%)

Results

DDM Intrinsic Value / share$6.80

Current Price$53.83

Upside / Downside-87.4%

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $193.36M

Target EV/EBITDA multipleCurrent: 44.8×

Net Debt($B)Default: -$260.38M

Results

Implied Equity Value / share$53.83

Current Price$53.83

Upside / Downside+0.0%

Implied EV$8.66B

Sensitivity: EV/EBITDA multiple (rows) × Net Debt (cols)

Mult \ Net Debt	-$2.26B	-$1.26B	-$260.38M	$739.62M	$1.74B
40.8x	$61.23	$55.20	$49.16	$43.13	$37.09
42.8x	$63.57	$57.53	$51.50	$45.46	$39.43
44.8x	$65.90	$59.87	$53.83	$47.80	$41.76
46.8x	$68.23	$62.20	$56.16	$50.13	$44.09
48.8x	$70.57	$64.53	$58.50	$52.46	$46.43

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