CGNX vs TDY: Which Is the Better Buy in 2026?

Same yardstick, side by side (as of October 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.

Reading it: TDY 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.

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 TDY 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 TDY 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.

Cognex makes machine vision systems: cameras, sensors and software that let automated equipment inspect parts, read codes and guide robots on production lines. Its customers are factories, logistics and distribution centres, consumer electronics makers, automakers and semiconductor fabs, and recent launches include an AI-based wafer ID reader for chipmakers.

Full CGNX guide

Teledyne Technologies is a diversified industrial-technology company that makes sophisticated sensing, imaging, instrumentation, and electronics products. Its portfolio spans digital imaging (including high-end industrial and scientific cameras, infrared and thermal sensors, and space and defense imaging, expanded by its acquisition of FLIR), aerospace and defense electronics, environmental and analytical instruments, and engineered systems. Teledyne makes money selling specialized hardware and instruments to demanding customers in defense, aerospace, industrial, scientific, medical, and environmental markets, where performance and reliability matter more than price. The company favors niche, high-barrier markets and grows both organically and through a steady stream of acquisitions, integrating them under a disciplined operating model. Its products often serve mission-critical applications, from machine vision on factory lines to sensors on spacecraft and military platforms. Headquartered in Thousand Oaks, California, Teledyne serves a global customer base across many specialized end markets.

Full TDY guide

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.
• TDY drivers: Digital imaging and FLIR; Diversification across resilient niches.

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 TDY, teledyne's industrial and instrumentation segments are exposed to manufacturing and capital-spending cycles, so a slowdown in global industrial activity can pressure orders.

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; TDY 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 TDY guides.

CGNX. Cognex trades at a premium multiple because earnings are recovering fast from a depressed base: trailing P/E is high, but the forward multiple of about 27 assumes EPS roughly doubles. The stock has given back part of its 2026 gain since a $72.88 high, and the November 4, 2026 report (consensus EPS $0.52 on ~$314 million revenue) is the next checkpoint for whether the automation upcycle holds.

TDY. As of October 16, 2026, Teledyne trades at about 23 times forward earnings and 19 times EV/EBITDA, a premium to average industrials that reflects its high-barrier niches, steady roughly 20% operating margins and acquisition record. Consensus expects 2026 EPS near $24.74 and 2027 near $26.79. Analysts rate it buy on average with a mean target near $758 across 12 firms; the October 21 report is the next checkpoint.

Headline figures (approximate, October 2026): CGNX shows revenue (ttm) ~$1.09 billion; latest quarter ~$291 million, up ~17% YoY, margins Gross ~69%; operating ~29%; net ~16%, net income (ttm) ~$175 million; trailing EPS ~$1.04, latest quarter eps (to jul 5, 2026) $0.45 vs $0.42 expected; TDY shows revenue (ttm) ~$6.37 billion, up ~9.8% YoY in the latest quarter, margins (ttm) ~43% gross, ~20% operating, ~15% net, net income (ttm) ~$975 million; trailing EPS ~$20.67, latest quarter (ended jun 28, 2026) Revenue ~$1.66 billion; EPS $6.28 vs ~$5.79 expected.

CGNX and TDY 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 TDY exposure against your real portfolio. It is not an investment adviser.