Cognex vs OSI Systems
OSI Systems is the larger business, with $1.79bn of revenue in fiscal 2026 against $994m for Cognex (1.8 times as much). Cognex grew faster (8.7% against 4.3%). Cognex kept more of each dollar of sales as profit: a net margin of 11.5% against 8.7%. Cognex carries less debt relative to equity (0.0% against 122.2%).
| Latest fiscal year | CognexCGNX, 2025 | OSI SystemsOSIS, 2026 |
|---|---|---|
| Revenue | $994m | $1.79bn |
| Revenue growth | 8.7% | 4.3% |
| Net income | $114m | $155m |
| Operating margin | 16.3% | 12.3% |
| Net margin | 11.5% | 8.7% |
| Return on equity | 7.6% | 17.3% |
| Free cash flow | $237m | $245m |
| Cash | $263m | $360m |
| Total debt | $0 | $1.02bn |
| Debt to equity | 0.0% | 122.2% |
| Dividend per share | $0.33 | — |
| Dividend yield | 0.6% | — |
| Share buybacks | $151m | $272m |
| Employees | — | 7,806 |
| Market value | $9.81bn | $3.18bn |
| Price vs our value range | Above our value range | Above our value range |
| Moat score | 83 (Strong) | 60 (Moderate) |
| Insider trades, 12 months | 0 buys, 42 sales | 0 buys, 5 sales |