CGNX vs EMR: How Cognex and Emerson Electric Compare (2026)
Last updated July 2026
Short answer
EMR is the larger of the two ($82.45B market cap): the incumbent the market prices for continued execution (20.53x forward earnings, beta 1.24). CGNX is the smaller challenger ($10.33B), actually pricier on forward earnings (34.80x): more room to run, but more to prove. The real question is which set of drivers you believe, and whether owning one (or both) leaves you over-concentrated.
CGNX vs EMR: the tie-breaker metrics
Same yardstick, side by side (as of July 2026). Valuation lined up like this is most meaningful for two names in the same corner of the market, which these are. Figures are approximate; verify before investing.
| Metric | CGNX | EMR | What it tells you |
|---|---|---|---|
| Market cap | $10.33B | $82.45B | Size. The larger name is the incumbent; the smaller has more room to grow and more to prove. |
| Forward P/E | 34.80 | 20.53 | Valuation on next year's expected earnings, the same yardstick for both. Lower is cheaper for that growth; higher means the market is paying up. |
| Trailing P/E | 73.03 | 34.00 | Valuation on the last 12 months. A big drop from trailing to forward means the market expects earnings to jump, so more growth is already in the price. |
| Beta | 1.49 | 1.24 | Volatility vs the market. Above 1 swings harder than the index; below 1 is steadier. Higher beta means bigger drawdowns to hold through. |
| Price vs 52-week range | 72% of range | 58% of range | Where today's price sits between the 52-week low and high. Near the high is momentum with less margin of safety; near the low is out of favor or a discount, depending on why. |
| Price / book | 6.99 | 4.06 | How much you pay over book value. Very high can signal an asset-light, high-return business or a rich price. |
Reading it: EMR is the cheaper of the two on forward earnings, but cheaper is not the same as better. Pair the valuation with growth (how far the forward P/E sits below the trailing P/E) and risk (beta) before you decide.
Before you buy: how CGNX and EMR affect your concentration
The metrics above tell you which is the marginally better business. The bigger risk for most people is not picking the slightly worse stock, it is over-concentrating. CGNX and EMR share themes, so owning both, or adding either to what you already hold, can quietly push a large share of your portfolio into one bet.
This is the part a generic comparison page cannot answer, because it depends on what you own. Connect your brokerage and Walnut shows your real, combined CGNX and EMR exposure, flags overlap with your existing positions, and tells you if adding one would tip you past a concentration you are comfortable with, read-only by default, with your login staying at your broker. Walnut is not an investment adviser.
What does Cognex (CGNX) do?
Cognex makes machine vision systems: cameras, sensors and software that let automated equipment inspect parts, read codes and guide robots on production lines.
What does Emerson Electric (EMR) do?
Emerson Electric is a global industrial-technology company focused on automation, helping manufacturers and process industries run their plants more efficiently, safely, and reliably. Over the past several years Emerson has transformed itself from a diversified industrial conglomerate into a more focused automation pure-play, divesting legacy businesses like its commercial and residential climate-technologies unit and acquiring software and measurement assets. Its core products include process control systems, measurement and analytical instruments, valves and actuators, software for plant operations, and test and measurement equipment, much of it sold under brands like DeltaV, Rosemount, Fisher, AspenTech, and NI (National Instruments). Customers span energy, chemicals, life sciences, power, water, food and beverage, and discrete manufacturing. Emerson makes money by selling this hardware and software plus recurring service, software subscriptions, and aftermarket parts, with a meaningful share of revenue tied to keeping installed systems running. The shift toward higher-margin software and recurring revenue, anchored by its majority stake in AspenTech, is central to its strategy. Emerson is headquartered in St. Louis, Missouri.
CGNX vs EMR: how do they differ?
Both fit overlapping themes, but they are not interchangeable. The useful comparison is which set of drivers and risks you want exposure to.
- CGNX drivers: Vision is the enabling layer for automation; Logistics and warehouse automation.
- EMR drivers: Automation pure-play transformation; Software and recurring revenue.
Which fits which kind of investor
A faster-growing, richer-valued name usually swings harder, so it suits a longer horizon and a higher tolerance for volatility; a steadier, more cash-generative business suits a more conservative or income-minded investor. The honest test is which set of risks you could hold through a drawdown: Revenue is closely tied to customer capital spending on automation, which is cyclical and can pause abruptly. For EMR, emerson's end markets are cyclical and tied to industrial capital spending, energy and chemical capex, and the global economy, so downturns can slow orders and revenue.
CGNX or EMR: which should you pick?
Growth-minded investors who believe the theme has years to run tend to accept the richer multiple for more upside; value-minded investors lean toward the cheaper forward earnings and steadier profile. Pick CGNX if you believe its drivers more; EMR if you believe its. Many investors hold both, but since they share themes, that is a concentrated bet, not diversification. Decide deliberately and check overlap. For the full detail, see the CGNX and EMR guides.
CGNX vs EMR: the full fundamentals
CGNX. Cognex is a high-margin components business whose results swing with automation capital cycles in a few concentrated end markets. Verify current revenue by end market and the direction of gross margin.
EMR. Emerson trades at a premium to the average industrial, reflecting its transformation into a higher-margin automation and software business and its anchor stake in AspenTech. The market values the recurring-revenue mix, margin expansion, and strong cash generation, while weighing acquisition and integration risk. Its Dividend King status and steady cash flow underpin a quality-industrial profile.
Headline figures (approximate, July 2026): CGNX shows business model Machine vision hardware and inspection software, end markets Factory automation, logistics, consumer electronics manufacturing, autos, margin profile Historically high gross margin; verify current level, demand driver Customer automation capital spending, which is cyclical; EMR shows revenue (ttm) ~$17-18 billion, operating margin ~20%+, expanding, revenue growth Mid-single-digit underlying, plus acquisitions, software and recurring mix Growing share of revenue.
The bottom line: CGNX vs EMR
CGNX and EMR are related but distinct: same themes, different businesses and risks. Neither wins in the abstract; the right pick is whichever thesis you actually believe, sized so you are not over-concentrated in one theme. Walnut can show your combined CGNX and EMR exposure against your real portfolio. It is not an investment adviser.
Investing in Cognex with AI
Connect the broker you already use and ask Walnut's AI how CGNX fits what you actually hold: whether you own it already through a fund, what it would do to your concentration, and how it has tracked the S&P 500. Read-only by default, and you approve anything before it reaches your broker.
FAQ
What is the difference between CGNX and EMR?
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Cognex makes machine vision systems: cameras, sensors and software that let automated equipment inspect parts, read codes and guide robots on production lines. Emerson Electric is a global industrial-technology company focused on automation, helping manufacturers and process industries run their plants more efficiently, safely, and reliably. They show up together because they share investment themes, but they are different businesses, so the better fit depends on which thesis you are expressing.
Is CGNX or EMR the better stock?
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Neither is universally better. EMR is the larger incumbent; CGNX is the smaller challenger and looks pricier on forward earnings. Walnut is informational, not investment advice. Compare what each does, the tie-breaker metrics above, and the risks, then decide which fits your thesis and what you already own.
Which is cheaper, CGNX or EMR?
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On forward P/E (as of July 2026), CGNX trades at 34.80x and EMR at 20.53x, so EMR is the cheaper of the two on next year's expected earnings. A lower multiple is not automatically the better buy: a richer valuation can be justified by faster growth, and a lower one can reflect real risk. Weigh the multiple against how fast each business is compounding.
Should you own both CGNX and EMR?
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Because they share themes, owning both concentrates you in that theme. That can be intentional (a focused bet) or accidental (less diversification than it looks). Walnut can show your combined exposure across both, and whether adding either over-concentrates you, before you buy.
What are the risks of CGNX vs EMR?
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CGNX: Revenue is closely tied to customer capital spending on automation, which is cyclical and can pause abruptly. Cognex has meaningful exposure to a small number of large end markets, including consumer electronics manufacturing, where a single customer's investment cycle moves results. Competition from lower-cost vision suppliers is increasing, and general-purpose AI vision models could erode the value of specialised algorithms. EMR: Emerson's end markets are cyclical and tied to industrial capital spending, energy and chemical capex, and the global economy, so downturns can slow orders and revenue. The transformation through large acquisitions like AspenTech and NI carries integration, execution, and valuation risk, and the company took on debt and complexity to fund deals. Competition in automation and industrial software is intense, including from larger and lower-cost rivals. Foreign-exchange effects, supply-chain disruptions, and project delays can pressure results. The stock can be volatile around portfolio moves and macro cycles, and the payoff from the software pivot must still prove out fully.
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Walnut is informational, not investment advice. This page is descriptive and not a recommendation to buy or sell CGNX or EMR; figures are approximate and dated (as of July 2026). Verify current data before investing.