(VREX) Varex Imaging - Ratings and Ratios
X-ray Tubes, Digital Detectors, X-ray Accelerators, Imaging Software, Radiographic Accessories
VREX EPS (Earnings per Share)
VREX Revenue
Description: VREX Varex Imaging October 26, 2025
Varex Imaging Corp (NASDAQ: VREX) designs, manufactures and sells X-ray imaging components across two primary segments – Medical and Industrial. The Medical segment supplies X-ray tubes, digital detectors, image-processing software and related accessories for CT, mammography, cardiac, dental and other diagnostic modalities. The Industrial segment provides Linatron linear accelerators, X-ray tubes, detectors and high-voltage hardware for security screening (airport baggage, cargo inspection) and nondestructive testing applications. Sales are channeled through OEMs, independent service firms, distributors and direct end-user contracts, with a global footprint that spans North America, Europe, Asia-Pacific, the Middle East, Africa and South America. Varex was incorporated in 2016 and is headquartered in Salt Lake City, Utah.
Key quantitative points (as of FY 2023): revenue of roughly $300 million, with the Medical segment contributing ~55 % and the Industrial segment ~45 %; an operating margin of 6 % after a 2022 R&D spend of ~12 % of revenue, reflecting the capital-intensive nature of X-ray hardware. The market’s secular drivers include rising global demand for advanced diagnostic imaging driven by an aging population (projected 10 % CAGR in CT and mammography volumes through 2030) and expanding security-screening infrastructure, especially in emerging economies where cargo throughput is expected to grow at ~7 % annually.
For a deeper, data-driven valuation of VREX-including cash-flow forecasts and comparable peer multiples-consult ValueRay’s dedicated analysis page.
VREX Stock Overview
| Market Cap in USD | 485m |
| Sub-Industry | Health Care Equipment |
| IPO / Inception | 2017-01-20 |
VREX Stock Ratings
| Growth Rating | -66.4% |
| Fundamental | 32.9% |
| Dividend Rating | - |
| Return 12m vs S&P 500 | -26.8% |
| Analyst Rating | 4.40 of 5 |
VREX Dividends
Currently no dividends paidVREX Growth Ratios
| Growth Correlation 3m | 61% |
| Growth Correlation 12m | -60% |
| Growth Correlation 5y | -81.1% |
| CAGR 5y | -17.93% |
| CAGR/Max DD 3y (Calmar Ratio) | -0.25 |
| CAGR/Mean DD 3y (Pain Ratio) | -0.54 |
| Sharpe Ratio 12m | 0.44 |
| Alpha | -29.59 |
| Beta | 0.958 |
| Volatility | 43.39% |
| Current Volume | 170.7k |
| Average Volume 20d | 226.8k |
| Stop Loss | 11.3 (-4.7%) |
| Signal | -0.09 |
Piotroski VR‑10 (Strict, 0-10) 3.5
| Net Income (-132.5m TTM) > 0 and > 6% of Revenue (6% = 49.3m TTM) |
| FCFTA 0.03 (>2.0%) and ΔFCFTA 0.20pp (YES ≥ +1.0pp, WARN ≥ +0.5pp) |
| NWC/Revenue 53.91% (prev 54.61%; Δ -0.70pp) (YES ≤20% & Δ≤-1pp; WARN ≤25% & Δ≤0 oder ≤40% & Δ≤-3pp) |
| CFO/TA 0.06 (>3.0%) and CFO 59.6m > Net Income -132.5m (YES >=105%, WARN >=100%) |
| NO Net Debt/EBITDA fails (EBITDA <= 0) |
| Current Ratio 3.51 (target 1.5–3.0; WARN 1.2–<1.5 or >3.0–5.0; CFO/TA gate active) |
| Outstanding Shares last Quarter (41.5m) change vs 12m ago 0.73% (target <= -2.0% for YES) |
| Gross Margin 34.06% (prev 32.16%; Δ 1.90pp) >=18% & Δ>=+0.5pp (WARN >=15% & Δ>=0) |
| Asset Turnover 70.62% (prev 66.47%; Δ 4.15pp) >=50% & Δ>=+2pp (WARN >=35% & Δ>=0) |
| Interest Coverage Ratio -1.26 (EBITDA TTM -18.2m / Interest Expense TTM 36.0m) >= 6 (WARN >= 3) |
Altman Z'' 2.35
| (A) 0.41 = (Total Current Assets 619.5m - Total Current Liabilities 176.7m) / Total Assets 1.07b |
| (B) -0.02 = Retained Earnings (Balance) -18.1m / Total Assets 1.07b |
| (C) -0.04 = EBIT TTM -45.3m / Avg Total Assets 1.16b |
| (D) -0.04 = Book Value of Equity -23.5m / Total Liabilities 603.9m |
| Total Rating: 2.35 = (6.56 * A) + (3.26 * B) + (6.72 * C) + (1.05 * D) |
ValueRay F-Score (Strict, 0-100) 32.86
| 1. Piotroski 3.50pt = -1.50 |
| 2. FCF Yield 10.18% = 5.0 |
| 3. FCF Margin 4.43% = 1.11 |
| 4. Debt/Equity 0.05 = 2.50 |
| 5. Debt/Ebitda 6.13 = -2.50 |
| 6. ROIC - WACC (= -15.65)% = -12.50 |
| 7. RoE -25.48% = -2.50 |
| 8. Rev. Trend -54.92% = -4.12 |
| 9. EPS Trend -52.61% = -2.63 |
What is the price of VREX shares?
Over the past week, the price has changed by -1.33%, over one month by +0.00%, over three months by +70.40% and over the past year by -12.92%.
Is Varex Imaging a good stock to buy?
Based on momentum, paid dividends and discounted-cash-flow analyses, the fair value of VREX is around 10.31 USD . This means that VREX is currently overvalued and has a potential downside of -13.07%.
Is VREX a buy, sell or hold?
- Strong Buy: 3
- Buy: 1
- Hold: 1
- Sell: 0
- Strong Sell: 0
What are the forecasts/targets for the VREX price?
| Issuer | Target | Up/Down from current |
|---|---|---|
| Wallstreet Target Price | 17.8 | 50.1% |
| Analysts Target Price | 17.8 | 50.1% |
| ValueRay Target Price | 11.8 | -0.8% |
VREX Fundamental Data Overview November 04, 2025
P/E Forward = 24.6914
P/S = 0.5909
P/B = 1.0816
P/EG = 6.2987
Beta = 0.958
Revenue TTM = 821.4m USD
EBIT TTM = -45.3m USD
EBITDA TTM = -18.2m USD
Long Term Debt = 366.0m USD (from longTermDebt, last quarter)
Short Term Debt = 5.80m USD (from shortTermDebt, last quarter)
Debt = 24.8m USD (from shortLongTermDebtTotal, last quarter)
Net Debt = -111.6m USD (from netDebt column, last quarter)
Enterprise Value = 357.6m USD (485.4m + Debt 24.8m - CCE 152.6m)
Interest Coverage Ratio = -1.26 (Ebit TTM -45.3m / Interest Expense TTM 36.0m)
FCF Yield = 10.18% (FCF TTM 36.4m / Enterprise Value 357.6m)
FCF Margin = 4.43% (FCF TTM 36.4m / Revenue TTM 821.4m)
Net Margin = -16.13% (Net Income TTM -132.5m / Revenue TTM 821.4m)
Gross Margin = 34.06% ((Revenue TTM 821.4m - Cost of Revenue TTM 541.6m) / Revenue TTM)
Gross Margin QoQ = 33.25% (prev 36.03%)
Tobins Q-Ratio = 0.33 (Enterprise Value 357.6m / Total Assets 1.07b)
Interest Expense / Debt = 38.71% (Interest Expense 9.60m / Debt 24.8m)
Taxrate = -2.89% (negative due to tax credits) (2.50m / -86.6m)
NOPAT = -46.6m (EBIT -45.3m * (1 - -2.89%)) [loss with tax shield] [negative tax rate / tax credits]
Current Ratio = 3.51 (Total Current Assets 619.5m / Total Current Liabilities 176.7m)
Debt / Equity = 0.05 (Debt 24.8m / totalStockholderEquity, last quarter 455.3m)
Debt / EBITDA = 6.13 (negative EBITDA) (Net Debt -111.6m / EBITDA -18.2m)
Debt / FCF = -3.07 (Net Debt -111.6m / FCF TTM 36.4m)
Total Stockholder Equity = 520.1m (last 4 quarters mean from totalStockholderEquity)
RoA = -12.34% (Net Income -132.5m / Total Assets 1.07b)
RoE = -25.48% (Net Income TTM -132.5m / Total Stockholder Equity 520.1m)
RoCE = -5.11% (EBIT -45.3m / Capital Employed (Equity 520.1m + L.T.Debt 366.0m))
RoIC = -4.63% (negative operating profit) (NOPAT -46.6m / Invested Capital 1.01b)
WACC = 11.02% (E(485.4m)/V(510.2m) * Re(9.55%) + D(24.8m)/V(510.2m) * Rd(38.71%) * (1-Tc(-0.03)))
Discount Rate = 9.55% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: 100.0 | Cagr: 1.10%
[DCF Debug] Terminal Value 63.96% ; FCFE base≈37.8m ; Y1≈24.8m ; Y5≈11.4m
Fair Price DCF = 4.26 (DCF Value 177.0m / Shares Outstanding 41.5m; 5y FCF grow -40.0% → 3.0% )
EPS Correlation: -52.61 | EPS CAGR: -59.91% | SUE: -2.17 | # QB: 0
Revenue Correlation: -54.92 | Revenue CAGR: -4.65% | SUE: 3.19 | # QB: 2
Additional Sources for VREX Stock
Tweets: X | Stocktwits
Fund Manager Positions: Dataroma | Stockcircle