A Business at a Glance
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Varex Imaging Corp
VREX
$452M
Mkt Cap
$10.92
+1.87%
Varex Imaging Corp (VREX) has a 5-year average return on invested capital (ROIC) of 3.4%. This is below average and may indicate limited pricing power.
Varex Imaging Corp (VREX) has a market capitalization of $460M. It is classified as a small-cap stock.
Varex Imaging Corp (VREX) does not currently pay a regular dividend.
Varex Imaging Corp (VREX) operates in the Electronic Components, Nec industry, within the Technology sector.
Varex Imaging Corp (VREX) reported annual revenue of $845 million in its most recent fiscal year, based on SEC EDGAR filings.
Varex Imaging Corp (VREX) has a net profit margin of -8.3%. The company is currently unprofitable.
Varex Imaging Corp (VREX) generated $19 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
Varex Imaging Corporation is a leading innovator, designer and manufacturer of X-ray imaging components including X-ray tubes, flat panel and photon counting detectors and accessories, linear accelerators, image software processing solutions, and stand-alone X-ray based systems in select application areas. Our components are used in medical diagnostic imaging, security inspection systems, and industrial quality inspection systems, as well as for analysis and measurement applications in industrial manufacturing applications. Global OEMs incorporate our X-ray imaging components into their systems to detect, diagnose, protect, irradiate, and inspect. Varex has approximately 2,400 full-time equivalent employees, located at engineering, manufacturing, and service center sites in North America, Europe, and Asia. Our products are sold in three geographic regions: the Americas, EMEA, and APAC. The Americas includes North America (primarily the United States) and Latin America.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 0 | 845M | 811M | 893M | 859M | 818M |
| Net Income | 0 | -70M | -49M | 47M | 30M | 17M |
| EPS | $0.00 | $-1.70 | $-1.20 | $1.07 | $0.73 | $0.43 |
| Free Cash Flow | 0 | 19M | 20M | 88M | -4.4M | 78M |
| ROIC | - | -8.0% | 2.4% | 9.2% | 7.6% | 5.9% |
| Gross Margin | - | 34.4% | 31.7% | 32.5% | 33.0% | 33.2% |
| Debt/Equity | 0.00 | 0.78 | 0.84 | 0.78 | 0.78 | 0.90 |
| Dividends/Share | $0.00 | - | - | - | - | - |
| Operating Income | 0 | -28M | 32M | 77M | 88M | 74M |
| Operating Margin | 0.0% | -3.3% | 4.0% | 8.6% | 10.3% | 9.1% |
| ROE | 0.0% | -14.0% | -8.9% | 8.6% | 6.0% | 3.7% |
| Shares Outstanding | 42M | 41M | 41M | 44M | 42M | 40M |
| Metric | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | ||||||||||||
| Revenue | 632M | 620M | 698M | 773M | 781M | 738M | 818M | 859M | 893M | 811M | 845M | 0 |
| Gross Margin | 39.6% | 40.1% | 36.3% | 32.8% | 32.9% | 25.8% | 33.2% | 33.0% | 32.5% | 31.7% | 34.4% | N/A |
| R&D | 50M | 54M | 67M | 83M | 78M | 79M | 72M | 77M | 85M | 87M | 91M | 91M |
| SG&A | 73M | 86M | 103M | 123M | 128M | 142M | 126M | 118M | 128M | 138M | 133M | 133M |
| EBIT | 128M | 109M | 84M | 45M | 46M | -34M | 74M | 88M | 77M | 32M | -28M | 0 |
| Op. Margin | 20.2% | 17.6% | 12.0% | 5.8% | 5.9% | -4.6% | 9.1% | 10.3% | 8.6% | 4.0% | -3.3% | 0.0% |
| Net Income | 80M | 69M | 52M | 28M | 16M | -58M | 17M | 30M | 47M | -49M | -70M | 0 |
| Net Margin | 12.7% | 11.0% | 7.4% | 3.6% | 2.0% | -7.8% | 2.1% | 3.5% | 5.3% | -6.0% | -8.3% | 0.0% |
| Non-Recurring | 0 | 0 | 0 | 4.3M | 2.8M | 0 | 3.5M | 6.4M | 0 | 0 | 94M | 94M |
| Returns on Capital | ||||||||||||
| ROIC | N/A | 14.9% | 9.2% | 5.8% | 4.3% | -6.8% | 5.9% | 7.6% | 9.2% | 2.4% | -8.0% | N/A |
| ROE | N/A | 13.4% | 11.4% | 6.8% | 3.6% | -12.9% | 3.7% | 6.0% | 8.6% | -8.9% | -14.0% | 0.0% |
| ROA | N/A | 21.9% | 6.2% | 2.7% | 1.5% | -5.3% | 1.5% | 2.6% | 3.9% | -4.0% | -6.1% | 0.0% |
| Cash Flow | ||||||||||||
| Op. Cash Flow | 85M | 74M | 75M | 85M | 72M | 13M | 93M | 17M | 108M | 47M | 42M | 0 |
| Free Cash Flow | 51M | 45M | 55M | 65M | 52M | -10M | 78M | -4.4M | 88M | 20M | 19M | 0 |
| Owner Earnings | 63M | 49M | 39M | 33M | 21M | -40M | 41M | -31M | 62M | 900K | -500K | -42M |
| CapEx | 34M | 29M | 20M | 20M | 20M | 24M | 15M | 21M | 21M | 27M | 23M | 0 |
| Maint. CapEx | 12M | 15M | 27M | 42M | 39M | 40M | 37M | 34M | 33M | 31M | 27M | 27M |
| Growth CapEx | 22M | 14M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| D&A | 12M | 15M | 27M | 42M | 39M | 40M | 37M | 34M | 33M | 31M | 27M | 27M |
| CapEx/OCF | N/A | N/A | 27.1% | 23.9% | 27.5% | 178.0% | 16.3% | 126.0% | 19.1% | 56.9% | 54.9% | 0.0% |
| Capital Allocation | ||||||||||||
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividend Yield | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Buyback Yield | 0.0% | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.0% |
| Stock-Based Comp | 9.6M | 9.5M | 8.4M | 10M | 12M | 13M | 14M | 14M | 14M | 15M | 15M | 15M |
| Debt Repayment | 0 | 0 | 255M | 106M | 87M | 484M | 33M | 29M | 2.4M | 2.3M | 202M | 202M |
| Balance Sheet | ||||||||||||
| Net Debt | N/A | -37M | 401M | 338M | 365M | 355M | 290M | 305M | 249M | 243M | 212M | 0 |
| Cash & Equiv. | 21M | 37M | 83M | 52M | 30M | 101M | 145M | 89M | 153M | 169M | 145M | N/A |
| Long-Term Debt | N/A | 0 | 464M | 365M | 364M | 453M | 432M | 412M | 441M | 397M | 366M | 366M |
| Debt/Equity | N/A | 0.00 | 1.28 | 0.91 | 0.89 | 1.01 | 0.90 | 0.78 | 0.78 | 0.84 | 0.78 | 0.00 |
| Interest Coverage | 106.3 | 57.4 | 6.8 | 2.1 | 2.2 | -1.1 | 1.8 | 2.2 | 2.6 | 1.1 | -0.8 | -0.8 |
| Equity | N/A | 526M | 379M | 426M | 445M | 452M | 483M | 533M | 568M | 529M | 473M | 0 |
| Total Assets | N/A | 622M | 1.0B | 988M | 1.0B | 1.1B | 1.1B | 1.2B | 1.2B | 1.2B | 1.1B | 0 |
| Total Liabilities | N/A | 86M | 650M | 549M | 580M | 674M | 651M | 638M | 669M | 670M | 621M | 621M |
| Intangibles | N/A | 21M | 91M | 74M | 86M | 68M | 51M | 34M | 22M | 16M | 14M | 13M |
| Retained Earnings | N/A | N/A | 35M | 62M | 74M | 16M | 34M | 64M | 118M | 64M | -5.9M | -5.9M |
| Working Capital | N/A | 282M | 344M | 306M | 263M | 361M | 388M | 437M | 496M | 454M | 455M | 455M |
| Current Assets | N/A | 360M | 495M | 458M | 438M | 522M | 554M | 610M | 658M | 650M | 642M | 642M |
| Current Liabilities | N/A | 78M | 152M | 152M | 175M | 161M | 167M | 173M | 163M | 196M | 187M | 187M |
| Per Share Data | ||||||||||||
| EPS | 2.12 | 1.82 | 1.36 | 0.72 | 0.40 | -1.49 | 0.43 | 0.73 | 1.07 | -1.20 | -1.70 | 0.00 |
| Owner EPS | 1.68 | 1.31 | 1.04 | 0.87 | 0.54 | -1.02 | 1.02 | -0.74 | 1.39 | 0.02 | -0.01 | -1.00 |
| Book Value | N/A | 13.98 | 9.99 | 11.16 | 11.48 | 11.62 | 11.94 | 12.85 | 12.82 | 13.01 | 11.43 | 0.00 |
| Cash Flow/Share | 2.26 | 1.97 | 1.98 | 2.23 | 1.86 | 0.34 | 2.29 | 0.41 | 2.45 | 1.16 | 1.01 | 0.65 |
| Dividends/Share | 0.00 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.00 |
| Shares Out. | 37.7M | 37.6M | 37.9M | 38.2M | 38.8M | 38.9M | 40.5M | 41.5M | 44.3M | 40.7M | 41.4M | 42.1M |
| Valuation | ||||||||||||
| P/E Ratio | N/A | N/A | 24.9 | 34.2 | 74.2 | N/A | 62.6 | 30.1 | 16.0 | N/A | N/A | N/A |
| P/FCF | N/A | N/A | 23.3 | 14.5 | 22.1 | N/A | 14.1 | N/A | 8.7 | 26.2 | 27.4 | N/A |
| EV/EBIT | N/A | N/A | 20.1 | 28.8 | 33.1 | N/A | 18.6 | 14.0 | 13.2 | 24.2 | N/A | N/A |
| Price/Book | N/A | N/A | 3.4 | 2.2 | 2.6 | 1.1 | 2.3 | 1.7 | 1.4 | 1.0 | 1.1 | N/A |
| Price/Sales | N/A | N/A | 1.8 | 1.7 | 1.4 | 1.1 | 1.1 | 1.1 | 1.0 | 0.8 | 0.6 | N/A |
| FCF Yield | N/A | N/A | 4.3% | 6.9% | 4.5% | -2.1% | 7.1% | -0.5% | 11.4% | 3.8% | 3.6% | N/A |
| Market Cap | 0 | N/A | 1.3B | 942M | 1.1B | 502M | 1.1B | 913M | 772M | 535M | 515M | 460M |
| Avg. Price | 0.00 | N/A | 32.37 | 35.39 | 28.94 | 21.15 | 23.19 | 23.77 | 20.22 | 16.01 | 11.30 | 10.92 |
| Year-End Price | 0.00 | N/A | 33.80 | 24.66 | 29.67 | 12.92 | 26.92 | 21.99 | 17.30 | 13.15 | 12.46 | 10.92 |
Varex Imaging Corp passes 2 of 9 quality checks, indicating weak fundamentals.
The company's 5-year average ROIC is 3.4% with a gross margin of 32.9%. At current prices, the estimated annualized return to fair value is +1.4%.
Varex Imaging Corp (VREX) has a debt-to-equity ratio of 0.78. This indicates moderate leverage.
Varex Imaging Corp (VREX) reported earnings per share (EPS) of $-1.70 in its most recent fiscal year.
Varex Imaging Corp (VREX) has a return on equity (ROE) of -14.0%. A negative ROE may indicate losses or negative equity.
Varex Imaging Corp (VREX) has a 5-year average gross margin of 32.9%. This indicates decent pricing power.
The Ledger Terminal provides 11 years of financial data for Varex Imaging Corp (VREX), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
Varex Imaging Corp (VREX) has a book value per share of $11.43, based on its most recent annual SEC filing.
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