Varex Imaging Corp

Varex Imaging Corp

VREX · NASDAQ · Healthcare / Medical Devices

18.10USD-0.17 (-0.93%)

Price History

Full chart

Market Stats

Previous Close18.27
Open18.32
Day Range18.02 – 18.32
52-Week Range9.09 – 18.63
Volume756.98K
Market Cap783.45M
P/E (TTM)34.81
Forward P/E20.28
EPS0.53
Dividend Yield0.00%
Beta0.96
50-Day Avg16.03
200-Day Avg12.79

About

Varex Imaging Corporation designs, manufactures, and sells X-ray imaging components. It operates through two segments, Medical and Industrial. The Medical segment designs, manufactures, sells, and services X-ray imaging components, comprising X-ray tubes, digital detectors and accessories, ionization chambers, high voltage connectors, image-processing software and workstations, 3D reconstruction software, computer-aided diagnostic software, collimators, automatic exposure control devices, generators, and heat exchangers. This segment's products are used in a range of applications, including CT, mammography, oncology, cardiac, surgery, dental, and other diagnostic radiography uses. The Industrial segment designs, develops, manufactures, sells, and services Linatron X-ray linear accelerators, non-intrusive cargo inspection systems, X-ray tubes, digital detectors, high voltage connectors, and coolers for use in security and inspection applications, such as baggage screening at airports, cargo screening at ports and borders, and nondestructive testing, irradiation, and inspection in various applications. It sells its products through imaging system original equipment manufacturers, independent service companies, and distributors, as well as directly to end-users. The company has operations in North America, Latin America, Europe, the Middle East, India, Africa, Asia, and Australia. The company was incorporated in 2016 and is headquartered in Salt Lake City, Utah.

Company Details

  • SectorHealthcare
  • IndustryMedical Devices
  • CEOMr. Sunny S. Sanyal
  • Employees2.50K
  • Headquarters1678 S. Pioneer Road, Salt Lake City, UT, United States, 84104, USA
  • Websitehttps://www.vareximaging.com

Leadership

  • Mr. Sunny S. SanyalPresident, CEO & Director · b. 1964
  • Mr. Shubham MaheshwariCFO & Principal Accounting Officer · b. 1971
  • Ms. Kimberley E. Honeysett J.D.Advisor · b. 1970
  • Mr. Mark S. JonaitisSenior VP & GM of X-Ray Sources · b. 1962
  • Mr. Andrew J. HartmannSenior VP & GM of X-Ray Detectors · b. 1963
  • Mr. Matthew A. MartinezChief Legal Officer & Corporate Secretary · b. 1982
  • Mr. Wouter VlaanderenVice President of Global Marketing
  • Ms. Karen ArankiChief Human Resources Officer · b. 1975
  • Mr. Victor Hugo GarciaSenior Vice President of Regulatory & Quality Compliance
  • Mr. Shaohua LiangVP & MD of China

Financials

Income Statement

Currency: USD2013-09-302014-09-302015-09-302016-09-302017-09-302018-09-302019-09-302020-09-302021-09-302022-09-302023-09-302024-09-302025-09-30
Total Revenue669.80M685.20M632.30M620.10M698.10M773.40M780.60M738.30M818.10M859.40M893.40M811.00M844.60M
Growth (%)-+2.30%-7.72%-1.93%+12.58%+10.79%+0.93%-5.42%+10.81%+5.05%+3.96%-9.22%+4.14%
Cost of Revenue401.70M406.60M381.70M371.70M444.60M519.50M523.90M548.10M546.60M575.90M603.10M554.10M554.10M
Gross Profit268.10M278.60M250.60M248.40M253.50M253.90M256.70M190.20M271.50M283.50M290.30M256.90M290.50M
Gross Margin40.03%40.66%39.63%40.06%36.31%32.83%32.88%25.76%33.19%32.99%32.49%31.68%34.39%
Operating Expense99.30M102.60M123.10M139.30M169.80M209.40M248.50M223.90M197.40M195.30M213.20M224.80M318.30M
Operating Income168.80M176.00M127.50M109.10M83.70M44.50M8.20M-33.70M74.10M88.20M77.10M32.10M-27.80M
Operating Margin25.20%25.69%20.16%17.59%11.99%5.75%1.05%-4.56%9.06%10.26%8.63%3.96%-3.29%
EBITDA180.60M185.20M141.10M122.20M111.10M89.70M83.90M-8.70M104.50M114.50M94.70M62.90M3.50M
EBITDA Margin26.96%27.03%22.32%19.71%15.91%11.60%10.75%-1.18%12.77%13.32%10.60%7.76%0.41%
Net Income109.60M110.10M80.00M68.50M51.60M27.50M15.50M-57.90M17.40M30.30M47.40M-47.70M-70.30M
Net Income Margin16.36%16.07%12.65%11.05%7.39%3.56%1.99%-7.84%2.13%3.53%5.31%-5.88%-8.32%
R&D35.90M40.00M50.40M53.50M67.30M83.00M78.10M78.90M71.90M77.00M84.80M87.00M91.10M
R&D as % of Total Revenue5.36%5.84%7.97%8.63%9.64%10.73%10.01%10.69%8.79%8.96%9.49%10.73%10.79%
Interest Expense400.00K900.00K1.20M1.90M12.30M21.70M21.10M31.40M43.40M41.00M29.30M31.10M35.50M
Interest Expense % of Total Revenue0.06%0.13%0.19%0.31%1.76%2.81%2.70%4.25%5.30%4.77%3.28%3.83%4.20%

Balance Sheet

Currency: USD2013-09-302014-09-302015-09-302016-09-302017-09-302018-09-302019-09-302020-09-302021-09-302022-09-302023-09-302024-09-302025-09-30
Total Assets-433.10M583.60M622.40M1.04B988.50M1.04B1.14B1.15B1.18B1.25B1.22B1.11B
Total Liabilities-73.80M88.00M86.10M649.90M549.10M581.00M673.70M651.00M637.70M668.60M667.80M620.80M
Total Equity-359.30M484.60M526.00M379.00M426.20M446.00M451.70M483.30M533.40M567.70M535.10M472.60M
Cash-500.00K20.60M36.50M83.30M51.90M29.90M100.60M144.60M89.40M152.60M168.70M145.00M
Total Debt----483.90M389.80M395.10M484.50M459.40M436.40M469.80M470.40M401.90M
Net Debt--500.00K-20.60M-36.50M400.60M337.90M365.20M383.90M314.80M347.00M317.20M301.70M256.90M

Cash Flow

Currency: USD2013-09-302014-09-302015-09-302016-09-302017-09-302018-09-302019-09-302020-09-302021-09-302022-09-302023-09-302024-09-302025-09-30
Operating Cash Flow91.20M118.60M85.20M74.20M74.60M85.30M71.90M13.20M92.60M16.90M108.40M47.30M41.70M
Investing Cash Flow-8.30M-28.60M-102.10M-21.60M-292.00M-25.20M-93.20M-26.90M-16.20M-48.40M-44.90M-27.50M10.30M
Financing Cash Flow-83.30M-89.90M36.70M-36.80M263.30M-90.40M-100.00K83.60M-32.30M-23.80M-200.00K-3.30M-75.90M
Capital Expenditure8.30M23.20M34.30M28.90M20.20M20.40M19.80M23.50M15.10M21.30M20.70M26.90M22.90M
Free Cash Flow82.90M95.40M50.90M45.30M55.00M64.90M52.10M-10.30M77.50M-4.40M87.70M20.40M18.80M
Dividends Paid-227.10M227.10M227.10M227.10M600.00K500.00K53.10M1.30M2.80M---
FCF to OCF90.90%80.44%59.74%61.05%73.73%76.08%72.46%-78.03%83.69%-26.04%80.90%43.13%45.08%
Dividend Paid to FCF-238.05%446.17%501.32%412.91%0.92%0.96%-515.53%1.68%-63.64%---

Earnings

Report DateNov 30, 2016Mar 3, 2017May 4, 2017Aug 3, 2017Nov 9, 2017Feb 1, 2018May 3, 2018Aug 2, 2018Nov 13, 2018Feb 5, 2019May 7, 2019Aug 6, 2019Nov 12, 2019Feb 11, 2020May 12, 2020Aug 12, 2020Nov 17, 2020Feb 4, 2021May 4, 2021Aug 3, 2021Nov 16, 2021Feb 8, 2022May 3, 2022Aug 2, 2022Nov 15, 2022Jan 31, 2023May 2, 2023Aug 1, 2023Nov 14, 2023Feb 6, 2024May 2, 2024Aug 1, 2024Nov 19, 2024Feb 6, 2025May 8, 2025Aug 7, 2025Nov 18, 2025Feb 10, 2026May 7, 2026Aug 10, 2026Nov 17, 2026
EPS Estimate0.000.430.380.460.540.410.450.510.300.250.340.340.440.260.350.07-0.10-0.030.160.270.370.280.230.250.360.190.180.320.350.110.210.190.090.040.140.040.180.130.210.220.33
EPS Actual0.590.300.400.440.590.230.450.340.290.260.340.240.460.210.12-0.20-0.040.080.350.400.450.250.370.370.420.210.260.370.450.060.160.140.190.070.260.180.370.190.210.31-
Surprise--30.23%5.26%-4.35%9.26%-43.90%0.00%-33.33%-3.33%4.00%0.00%-29.41%4.55%-19.23%-65.71%-385.71%60.00%366.67%118.75%48.15%21.62%-10.71%60.87%48.00%16.67%10.53%44.44%15.63%28.57%-45.45%-23.81%-26.32%111.11%75.00%85.71%350.00%105.56%46.15%0.00%40.91%-
Timing-After-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursPre-marketAfter-hours

Key Statistics & Ratios

Market Cap783.45M
Enterprise Value1.06B
Trailing P/E34.81
Forward P/E20.28
PEG Ratio4.98
Price / Sales0.91
Price / Book1.58
EPS0.53
Book Value11.78
Revenue (TTM)865.00M
Gross Profit (TTM)296.90M
EBITDA99.50M
Profit Margin2.56%
Operating Margin10.83%
Return on Equity4.59%
Return on Assets4.15%
Shares Outstanding42.46M
Shares Float41.37M
Beta0.96
Dividend Yield0.00%
Dividend Rate0.00
Payout Ratio0.00%

Analyst Ratings

Buy
Based on 5 analystsTarget 18.90
  • Strong Buy
    3
  • Buy
    1
  • Hold
    1

Ownership Breakdown

Institutions
98.58%
Insiders
1.71%
Retail / Other
0.00%

Top Institutional Holders

  • Pzena Investment Management, LLC
    3.99M9.47%
  • BlackRock Inc
    3.82M9.06%
  • Allspring Global Investments Holdings, LLC
    2.28M5.42%
  • Neuberger Berman Group LLC
    1.92M4.57%
  • LSV Asset Management
    1.87M4.44%
  • Vanguard Capital Management, LLC
    1.82M4.32%
  • Rice Hall James & Associates, LLC
    1.45M3.43%
  • Acadian Asset Management LLC
    1.14M2.71%
  • State Street Corp
    1.07M2.53%
  • Geode Capital Management, LLC
    1.04M2.47%
  • Dimensional Fund Advisors, Inc.
    1.01M2.39%
  • Cooke & Bieler LP
    999.15K2.37%
  • D. E. Shaw & Co LP
    925.25K2.20%
  • Vanguard Portfolio Management, LLC
    920.61K2.18%
  • Charles Schwab Investment Management Inc
    801.08K1.90%
  • Royce & Associates, LP
    765.11K1.82%
  • AQR Capital Management LLC
    627.10K1.49%

Top Fund Holders

  • Vanguard MStar Total Stk Mkt Idx Invest
    1.35M3.21%
  • iShares Russell 2000 ETF
    1.08M2.57%
  • BlackRock Event Driven Equity Instl
    593.05K1.41%