VAREX IMAGING VREX

18.45 (0.02) (0.11%) as of 25 Sep
Market cap
$784.3M
P/E
34.8×

Insider Decisions

Total sells 2.60
in millions of $
Nov 25 Feb 26 May 26 Aug 26
Buy — — — — — — — — — — — —
Sell — — — — — 1 — — — — — 2
Insider Ownership 0.88%

Capital & Financial Ratios

Market Cap 784.30
Revenue 865.00
Net Income 22.50
Free Cash Flow (20.20)
Net Debt 247.90
Current Ratio 3.38
Debt/Equity 0.68
P/E ratio 34.81
P/S ratio 0.90
P/B ratio 1.52
Past 5Y EPS Growth 6.00%
This Y EPS Growth (6.67%)
Next Y EPS Growth 27.38%
Next 5Y EPS Growth 15.87%
in millions of $

Dividends

Payout Ratio 0.00
Annual Dividend Rate —
Annual Dividend Yield —
total individual payouts
2024 Powerpack
2023 Powerpack
2022 Powerpack
2021 Powerpack
2020 Powerpack
2019 Powerpack
2018 Powerpack
2017 Powerpack
predictions in italic, special payouts not included in total or ratios

Assets vs Liabilities

2023 2024 2025 Q'26
Cash 194 201 155 99
Receivables 164 158 157 145
Inventory 278 265 299 347
Other — — — —
658 650 642 633
2023 2024 2025 Q'26
Payables 65 59 70 84
ST’ Debt 2 46 2 18
Other — — — —
163 196 187 187
in millions of $

Compound Annual Growth

10y 5y 3y
Sales 2.94% 2.73% (0.58%)
Cash Flow (6.90%) 25.87% 35.13%
Earnings 0.00% 0.00% 0.00%
Book Value (0.18%) 0.88% (3.81%)

Revenue

Dec Mar Jun Sep Year
’26 210 216 211 — —
’25 200 213 203 229 845
’24 190 206 209 206 811
’23 206 228 232 227 893
’22 199 215 215 231 859
’21 177 204 211 226 818
’20 200 197 171 170 738
in millions of $ · fiscal quarters ending in the months shown

Operating Cash Flow

Dec Mar Jun Sep Year
’26 (16) (1) 21 — —
’25 10 17 8 8 42
’24 10 3 8 26 47
’23 (4) 27 38 47 108
’22 11 (8) (3) 17 17
’21 7 13 22 51 93
’20 23 1 1 (12) 13
in millions of $ · fiscal quarters ending in the months shown

Free Cash Flow

Dec Mar Jun Sep Year
’26 (27) (8) 12 — —
’25 5 10 1 2 19
’24 0 (3) 3 20 20
’23 (9) 22 34 42 88
’22 7 (12) (7) 7 (4)
’21 3 9 17 48 78
’20 15 (5) (4) (16) (10)
in millions of $ · fiscal quarters ending in the months shown

EPS

Dec Mar Jun Sep Year
’26 0.05 (0.19) 0.37 — —
’25 (0.01) 0.14 (2.15) 0.29 (1.70)
’24 (0.01) 0.03 0.03 (1.22) (1.17)
’23 0.08 0.10 0.21 0.66 1.07
’22 0.03 0.18 0.20 0.32 0.73
’21 (0.16) 0.08 0.29 0.20 0.43
’20 (0.03) (0.05) (0.73) (0.66) (1.47)
fiscal quarters ending in the months shown

Target Price Range

Analyst price targets

Recommendation Rating

3
1Buy 2 3Hold 4 5Sell
2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028
— 25.00 21.57 22.73 10.37 16.60 18.90 17.05 10.19 6.76

Analyst estimates 2026–2028

Powerpack
Low Price
— 41.99 43.76 35.00 31.90 32.65 32.41 23.90 21.06 15.46
High Price
1,400 2,000 2,000 2,000 2,000 2,100 2,300 2,400 2,300 2,400
Employees
0 0 0 0 0 0 0 0 0 0
Revenue/Emp
620 698 773 781 738 818 859 893 811 845
Revenue
40.06% 36.31% 32.83% 32.88% 25.76% 33.19% 32.99% 32.49% 31.68% 34.39%
Gross Margin
105 75 26 22 (73) 29 45 31 5 (59)
EBT
16.93% 10.71% 3.32% 2.75% (9.83%) 3.50% 5.18% 3.50% 0.62% (7.01%)
EBT Margin
69 52 28 16 (57) 18 31 48 (48) (70)
Net Income
15 29 48 46 47 47 45 36 34 124
Depreciation
16.58 18.57 20.41 20.43 19.03 20.82 21.59 22.17 19.88 20.40
Revenue/Sh
1.84 1.37 0.73 0.43 (1.47) 0.44 0.76 1.20 (1.17) (1.70)
Earnings/Sh
1.98 2.00 2.25 1.88 0.34 2.36 0.42 2.69 1.16 1.01
Cash Flow/Sh
(0.77) (0.54) (0.54) (0.52) (0.61) (0.38) (0.54) (0.51) (0.66) (0.55)
Capex/Sh
1.21 1.46 1.71 1.36 (0.27) 1.97 (0.11) 2.18 0.50 0.45
Free CF/Sh
14.06 10.08 11.30 11.73 12.01 12.63 13.74 14.42 13.31 11.75
Book Value/Sh
37 38 38 38 39 39 40 40 41 41
Shares
12.59 24.83 38.23 66.37 0.00 62.67 27.45 15.50 0.00 0.00
PE Ratio
1.60 1.84 1.37 1.40 0.67 1.35 0.98 0.84 0.60 0.61
PS Ratio
1.82 3.40 2.47 2.43 1.06 2.23 1.54 1.29 0.90 1.06
PB Ratio
1.52 2.42 1.80 1.86 1.15 1.71 1.36 1.12 0.90 0.86
EV/Sales
14.96 30.70 21.51 27.94 (82.35) 18.04 (265.08) 11.38 35.75 38.60
EV/FCF
74 75 85 72 13 93 17 108 47 42
Op' Cash Flow
(29) (20) (20) (20) (23) (15) (21) (21) (27) (23)
Capex
45 55 65 52 (10) 78 (4) 88 20 19
FCF
282 344 306 263 361 388 437 496 454 455
Working Cap'
— 484 390 395 455 435 414 443 443 368
Total Debt
(36) 401 338 365 355 290 325 249 243 212
Net Debt
526 379 428 448 466 497 547 581 543 487
Sh' Equity
11.36% 6.21% 2.71% 1.53% (5.32%) 1.52% 2.60% 3.89% (3.96%) (6.06%)
ROA
13.93% 6.71% 3.63% 3.51% (2.57%) 5.89% 6.32% 5.81% 2.55% (2.49%)
ROIC
13.41% 11.40% 6.81% 3.54% (12.67%) 3.62% 5.81% 8.41% (8.68%) (13.65%)
ROE
predictions in italic, sparklines do not include predictions

All 10 years →

Fiscal years to Sep 2025 · latest quarter Jun 2026

VAREX IMAGING peers in Medical Devices

All 149 Medical Devices stocks →

VAREX IMAGING (VREX) key facts

  • VAREX IMAGING (VREX) is a Medical Devices company in the Healthcare sector, listed on Nasdaq.
  • VAREX IMAGING’s revenue for fiscal 2025 (year ended September 2025) was $844.6 million, up 4.14% from fiscal 2024.
  • VAREX IMAGING reported a net loss of $69.9 million, or a loss of $1.70 per share, for fiscal 2025.
  • As of September 25, 2026, VREX traded at $18.45, a market capitalization of $784.3 million.
  • At that price the stock trades at 34.8× trailing-twelve-month earnings and 0.9× sales.
  • Return on equity was −13.7% and debt-to-equity 0.68.

Source: company filings (standardised) and stockrow calculations.

VAREX IMAGING (VREX) Latest News

News by impact score

Fine-tune

26 Aug

5

Varex Imaging (VREX) shares surged 50% after Teledyne (TDY) announced a buyout deal, coinciding with advancing turnaround momentum at the company. Acquisition by Teledyne fundamentally redefines Varex Imaging's competitive position and long-term prospects.

14 Aug

5

Teledyne Technologies acquires Varex Imaging at a 52% premium. Acquisition at 52% premium ends Varex independent operations and resets its valuation.

12 Aug

5

Teledyne Technologies (TDY) agrees to $1.1 billion imaging deal to expand X-ray capabilities involving Varex Imaging (VREX). Acquisition by Teledyne Technologies for $1.1 billion fundamentally changes Varex Imaging ownership and trajectory.

11 Aug

5

Teledyne agrees to acquire Varex Imaging for $1.1bn. The $1.1bn acquisition ends Varex Imaging's standalone operations and resets its market trajectory.

5

Teledyne signs $1.1B deal to acquire Varex Imaging. $1.1B takeover ends Varex independence and folds operations into Teledyne.

10 Aug

5

Teledyne Technologies will acquire Varex Imaging for $1.1 billion. The $1.1 billion acquisition ends Varex Imaging's independence and resets its competitive position under new ownership.

5

Teledyne acquires Varex Imaging in a $1.1 billion deal. The $1.1 billion acquisition by Teledyne fundamentally redefines Varex Imaging ownership and long-term trajectory.

5

Teledyne announced the acquisition of Varex Imaging Corporation. Acquisition by Teledyne will fundamentally alter Varex Imaging's ownership structure and long-term market trajectory.

4

Varex Imaging enters a $1.1 billion deal, sending its stock price surging 48%. A $1.1 billion deal directly drives a 48% stock surge for Varex Imaging.

4

Varex reported Q3 FY2026 revenue growth and margin expansion ahead of Teledyne transaction. Revenue growth and margin expansion ahead of Teledyne transaction point to major strategic impact on Varex trajectory.

4

Varex Imaging (VREX) released financial results for its third quarter of fiscal year 2026. Quarterly earnings releases directly affect investor sentiment and near-term stock valuation for Varex Imaging.

3

VAREX IMAGING (VREX) Q3 earnings beat estimates. Q3 earnings beat can influence near-term stock performance and sentiment without fundamentally changing company trajectory.

3

VAREX IMAGING shares jumped after the company announced stronger-than-expected quarterly results and raised full-year guidance, citing higher demand for its X-ray imaging components and improved supply-chain conditions. Raised guidance and higher component demand point to improved near-term revenue but do not signal a fundamental shift in competitive position or long-term trajectory.

11 May

3

Varex Imaging Corporation missed earnings expectations with a surprise loss. Analysts have issued their latest forecasts. Earnings miss and surprise loss moderately impact financial performance and investor sentiment.

9 May

4

Varex Imaging released Q2 earnings call highlights detailing quarterly financial results, operational updates, and forward-looking guidance. Q2 earnings highlights directly influence financial performance metrics and investor expectations for future growth.

8 May

4 transcript

Varex Imaging (VREX) released its Q2 2026 earnings call transcript detailing financial results, performance, and forward guidance. Q2 2026 earnings transcript discloses key financial metrics, operational updates, and outlook that could significantly sway investor sentiment and stock trajectory.

4

Varex Imaging Corporation released its Q2 2026 earnings call summary, detailing quarterly financial results, operational performance, strategic updates, and future outlook. Quarterly earnings summaries provide critical financial metrics and guidance that significantly shape investor sentiment and stock trajectory.

7 May

4

Varex Imaging announced financial results for second quarter fiscal year 2026. Quarterly earnings announcements significantly impact stock performance and investor sentiment.

3

Varex Imaging (VREX) Q2 earnings compared to analyst estimates, with analysis of key metrics. Q2 earnings versus estimates moderately influences VREX financial performance and market sentiment.

3

Varex Imaging (VREX) Q2 earnings and revenues missed analyst estimates. Q2 earnings and revenue misses highlight underperformance that could moderately affect financial results and investor sentiment.

30 Apr

3

Wall Street analysts predict VAREX IMAGING (VREX) stock could surge 63.19%, urging investors to review details before betting. Analyst forecasts of 63.19% upside signal moderately positive sentiment shift for VREX market performance.

14 Apr

3

Varex Imaging (VREX) upgraded to Strong Buy rating by analysts due to favorable outlook on growth, financials, and market position. Analyst upgrade to Strong Buy expected to moderately boost investor sentiment and short-term stock performance.

3

Wall Street analysts forecast a 57.62% upside for Varex Imaging (VREX) stock, questioning whether it can realistically achieve this target. Analyst price targets signal moderate potential to influence investor sentiment and stock trajectory amid scrutiny of attainability.

11 Apr

4

Varex Imaging (VREX) investment story shifts amid new risk assessments and revised earnings assumptions. New risks and earnings assumptions indicate significant changes to VREX's trajectory and market sentiment.

22 Mar

4

Varex Imaging reports steady demand despite geopolitical tensions. Tariff relief expected to improve margins. India market ramp-up ahead. Tariff relief lifts margins and India expansion signals growth opportunities.

4

Varex Imaging CFO at conference highlights company's ability to pass through tariffs to customers, expansion of factories in India, growth opportunities in cargo screening systems, and progress in photon-counting detector technology. Tariff pass-through capability, India factory expansions, cargo systems growth, and photon-counting advancements represent major strategic moves enhancing resilience, diversification, and innovation.

16 Mar

4

Varex Imaging announces successful completion of debt refinancing. Debt refinancing strengthens financial position, reduces interest expenses, and boosts investor confidence.

6 Mar

3

Varex Imaging Corporation announces redemption of its 7.875% Senior Secured Notes due 2027. Redeeming senior secured notes ahead of maturity reduces debt obligations and impacts financial health moderately.

13 Feb

3

Varex Imaging Corporation's share price has shown fluctuations recently, reflecting broader market trends and investor sentiment. Analysts are closely monitoring the company's performance, particularly in light of recent developments in the imaging sector. The company's strategic initiatives and product innovations are expected to play a crucial role in shaping its future market position. Recent developments may moderately influence Varex Imaging's financial performance and competitive positioning.

11 Feb

4 transcript

Varex Imaging Corporation reported its Q1 2026 earnings, highlighting a revenue increase driven by strong demand for its imaging products. The company noted improvements in operational efficiency and cost management, which contributed to a rise in net income. Management expressed optimism about future growth prospects, citing ongoing investments in innovation and expansion into new markets. Challenges such as supply chain disruptions and competitive pressures were acknowledged, but the overall outlook remained positive as Varex aims to enhance its product offerings and market presence. The earnings report indicates significant operational improvements and strategic investments that could alter the company's growth trajectory.

stockrow.com/VREX · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com