VREX - Varex Imaging Corporation
Price:
--
--
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CONSENSUS:
Buy
DETAILS
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PRICE TARGET:
$14.50
DETAILS
HIGH:
$14.50
LOW:
$14.50
MEDIAN:
$14.50
CONSENSUS:
$14.50
UPSIDE:
44.10%
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | |||||||||||||
| Revenue | 844.6 | 811 | 893.4 | 859.4 | 818.1 | 738.3 | 780.6 | 773.4 | 698.1 | 620.1 | 632.3 | 685.2 | 669.8 |
| Cost of Revenue | 554.1 | 554.1 | 603.1 | 575.9 | 546.6 | 548.1 | 523.9 | 519.5 | 444.6 | 371.7 | 381.7 | 406.6 | 401.7 |
| Gross Profit | 290.5 | 256.9 | 290.3 | 283.5 | 271.5 | 190.2 | 256.7 | 253.9 | 253.5 | 248.4 | 250.6 | 278.6 | 268.1 |
| Operating Expenses | |||||||||||||
| R&D Expenses | 91.1 | 87 | 84.8 | 77 | 71.9 | 78.9 | 78.1 | 83 | 67.3 | 53.5 | 50.4 | 40 | 35.9 |
| SG&A Expenses | 133.3 | 137.8 | 128.4 | 118.3 | 125.5 | 142.2 | 128.1 | 126.4 | 102.5 | 85.8 | 72.7 | 62.6 | 63.4 |
| Other Expenses | 93.9 | 0 | 0 | 0 | 0 | 2.8 | 0 | 0 | 0 | (0.9) | 0.5 | (0.4) | 0.2 |
| Operating Expenses | 318.3 | 224.8 | 213.2 | 195.3 | 197.4 | 223.9 | 206.2 | 209.4 | 169.8 | 139.3 | 123.1 | 102.6 | 99.3 |
| Operating Income | |||||||||||||
| Operating Income | (27.8) | 32.1 | 77.1 | 88.2 | 74.1 | (33.7) | 8.2 | 44.5 | 83.7 | 109.1 | 127.5 | 176 | 168.8 |
| Interest Expense | 35.5 | 31.1 | 29.3 | 41 | 43.4 | 31.4 | 21.1 | 21.7 | 12.3 | 1.9 | 1.2 | 0.9 | 0.4 |
| Interest Income | 8.5 | 7.3 | 3.7 | 0.4 | 0.1 | 0.1 | 0.1 | 0.2 | 0.2 | 0.3 | 0.5 | 0.3 | 0.2 |
| Profitability | |||||||||||||
| EBITDA | 3.5 | 62.9 | 94.7 | 114.5 | 104.5 | (8.7) | 83.9 | 89.7 | 111.1 | 122.2 | 141.1 | 185.2 | 180.6 |
| EBIT | (23.7) | 31.8 | 61.5 | 80.9 | 67.2 | (48.2) | 42.6 | 47.4 | 87.1 | 109.1 | 127.5 | 176 | 171.7 |
| Income Before Tax | (59.2) | 5 | 31.3 | 44.5 | 28.6 | (72.6) | 21.5 | 25.7 | 74.8 | 105 | 127.6 | 174.2 | 171.3 |
| Income Tax Expense | 10.7 | 52.2 | (16.6) | 13.7 | 10.7 | (15.2) | 5.7 | (2.6) | 22.8 | 36 | 46.8 | 64.1 | 61.7 |
| Net Income | (70.3) | (47.7) | 47.4 | 30.3 | 17.4 | (57.9) | 15.5 | 27.5 | 51.6 | 68.5 | 80 | 110.1 | 109.6 |
| Per Share Data | |||||||||||||
| EPS (Basic) | -1.70 | -1.17 | 1.20 | 0.76 | 0.44 | -1.49 | 0.41 | 0.73 | 1.37 | 1.79 | 2.09 | 2.88 | 2.87 |
| EPS (Diluted) | -1.70 | -1.17 | 0.96 | 0.73 | 0.43 | -1.49 | 0.40 | 0.72 | 1.36 | 1.78 | 2.08 | 2.87 | 2.85 |
| Shares Outstanding | 41.4 | 40.8 | 40.3 | 39.8 | 39.3 | 38.8 | 38.2 | 37.9 | 37.6 | 38.2 | 38.2 | 38.2 | 38.2 |
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Current Assets | ||||||||||
| Cash & Cash Equivalents | 145 | 168.7 | 152.6 | 89.4 | 144.6 | 100.6 | 29.9 | 51.9 | 83.3 | 36.5 |
| Short-Term Investments | 10.1 | 31.8 | 41.3 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Receivables | 157.4 | 157.7 | 164.3 | 173.3 | 155.3 | 123.8 | 141 | 154 | 163.6 | 122.2 |
| Inventory | 299.4 | 264.8 | 277.5 | 303.2 | 224.8 | 271.9 | 250.3 | 235.1 | 234.5 | 197.4 |
| Other Current Assets | 29.9 | 26.9 | 22.6 | 2.1 | 0 | 0 | (0.2) | 17.1 | 0 | 0 |
| Total Current Assets | 641.8 | 649.9 | 658.3 | 609.9 | 554.2 | 522 | 440.3 | 458.1 | 495.3 | 359.9 |
| Non-Current Assets | ||||||||||
| Property, Plant & Equipment | 187.2 | 181.7 | 172.6 | 164.5 | 164.5 | 172.9 | 142.3 | 144.9 | 148.3 | 108.9 |
| Goodwill | 198.4 | 291 | 288.5 | 284.5 | 292.2 | 293.1 | 290.8 | 243.6 | 241.9 | 74.7 |
| Intangible Assets | 14 | 16.1 | 22.4 | 33.6 | 50.7 | 67.5 | 86.3 | 73.8 | 91.3 | 20.7 |
| Long-Term Investments | 26.6 | 26.8 | 30.4 | 46.4 | 49.3 | 51.3 | 53.6 | 51 | 52.3 | 49.3 |
| Other Non-Current Assets | 36.5 | 46.8 | 36.1 | 43.2 | 32.6 | 32.2 | 27.5 | (6.1) | (18.5) | 3.4 |
| Total Non-Current Assets | 465.6 | 567.1 | 591.3 | 574.5 | 593.3 | 617.5 | 600.5 | 530.4 | 544.8 | 262.5 |
| Total Assets | 1,107.4 | 1,217 | 1,249.6 | 1,184.4 | 1,147.5 | 1,139.5 | 1,040.8 | 988.5 | 1,040.1 | 622.4 |
| Current Liabilities | ||||||||||
| Account Payables | 69.9 | 59.1 | 64.7 | 78.2 | 58.8 | 72.9 | 58.2 | 66.3 | 58.9 | 41.9 |
| Short-Term Debt | 6.3 | 46.3 | 5.4 | 2.1 | 2.8 | 2.5 | 30.7 | 25 | 20 | 0 |
| Deferred Revenue | 13 | 7.9 | 17.4 | 14.2 | 9.1 | 8.6 | 10.5 | 13.2 | 10.5 | 12 |
| Other Current Liabilities | 49.3 | 40.5 | 28.6 | 7.9 | 37.3 | 31.7 | 32.9 | 19.1 | 23.2 | 10.3 |
| Total Current Liabilities | 187.2 | 195.9 | 162.8 | 173.1 | 166.6 | 160.6 | 175.1 | 152.6 | 151.8 | 77.8 |
| Non-Current Liabilities | ||||||||||
| Long-Term Debt | 366 | 397.1 | 441.1 | 412.3 | 431.7 | 452.8 | 364.4 | 364.8 | 463.9 | 0 |
| Deferred Tax Liabilities | 5.5 | 1.4 | 0 | 0.5 | 2.2 | 2.3 | 9 | 23.2 | 29.5 | 3 |
| Other Non-Current Liabilities | 32.5 | 50.4 | 19.7 | 12.3 | 31.8 | 34.9 | 32.5 | 8.5 | 4.7 | 5.3 |
| Total Non-Current Liabilities | 433.6 | 471.9 | 505.8 | 464.6 | 484.4 | 513.1 | 405.9 | 396.5 | 498.1 | 8.3 |
| Total Liabilities | 620.8 | 667.8 | 668.6 | 637.7 | 651 | 673.7 | 581 | 549.1 | 649.9 | 86.1 |
| Stockholders' Equity | ||||||||||
| Common Stock | 0.4 | 0.4 | 0.4 | 0.4 | 0.4 | 0.4 | 0.4 | 0.4 | 0.4 | 526 |
| Retained Earnings | (5.9) | 70.4 | 118.1 | 63.8 | 33.5 | 16.9 | 75.5 | 62.4 | 35.1 | 526 |
| Accumulated Other Comprehensive Income | (5.2) | (2.9) | (1.2) | 0.1 | 0 | 0.8 | (1.7) | 5.8 | 0.8 | 0 |
| Total Stockholders' Equity | 472.6 | 535.1 | 567.7 | 533.4 | 483.3 | 451.7 | 446 | 426.2 | 379 | 526 |
| Total Liabilities & Equity | 1,107.4 | 1,217 | 1,249.6 | 1,184.4 | 1,147.5 | 1,139.5 | 1,040.8 | 988.5 | 1,040.1 | 622.4 |
| Debt Metrics | ||||||||||
| Total Debt | 401.9 | 470.4 | 469.8 | 436.4 | 459.4 | 484.5 | 395.1 | 389.8 | 483.9 | 0 |
| Net Debt | 256.9 | 301.7 | 317.2 | 347 | 314.8 | 383.9 | 365.2 | 337.9 | 400.6 | (36.5) |
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||||
| Net Income | (69.9) | (47.2) | 48.7 | 30.8 | 17.9 | (57.4) | 15.8 | 28.3 | 52 | 69 |
| Depreciation & Amortization | 27.2 | 31.1 | 33.2 | 33.6 | 37.3 | 39.5 | 39.2 | 42.2 | 27.4 | 15.3 |
| Stock-Based Compensation | 15 | 15.3 | 13.5 | 14 | 13.9 | 13.4 | 11.7 | 10 | 8.4 | 9.5 |
| Change in Working Capital | (31.4) | 2 | 23.3 | (88) | 8.2 | (13.9) | 4.7 | 6 | (6.6) | (26.2) |
| Other Non-Cash Items | 101.3 | 9.1 | 29.2 | 25.9 | 18.3 | 34.7 | 13.4 | 6.5 | 2.3 | 2.4 |
| Operating Cash Flow | 41.7 | 47.3 | 108.4 | 16.9 | 92.6 | 13.2 | 71.9 | 85.3 | 75.2 | 74.2 |
| Investing Activities | ||||||||||
| Capital Expenditure | (22.9) | (26.9) | (20.7) | (21.3) | (15.1) | (23.5) | (19.8) | (20.4) | (20.2) | (28.9) |
| Acquisitions | 0 | 0.9 | (1) | 1.1 | (1.4) | (3.4) | (73.4) | (4.8) | (271.8) | (1.2) |
| Purchases of Investments | (31.4) | (61) | (55.9) | (28.3) | 0 | 0 | 0 | 0 | 0 | 0 |
| Sales/Maturities of Investments | 65.4 | 60.6 | 28.3 | 2 | 0 | 0 | 0 | 0 | 0 | 8.6 |
| Other Investing Activities | (0.8) | (1.1) | 4.4 | (1.9) | 0.3 | 0 | 0 | 0 | 0 | (0.1) |
| Investing Cash Flow | 10.3 | (27.5) | (44.9) | (48.4) | (16.2) | (26.9) | (93.2) | (25.2) | (292) | (21.6) |
| Financing Activities | ||||||||||
| Net Debt Issuance | (75) | (1.6) | (2.4) | (29.4) | (31.6) | 109.9 | (1.6) | (96) | 494 | 0 |
| Stock Repurchased | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Financing Activities | (4.2) | (1.7) | 2.2 | 5.6 | (0.7) | (26.3) | 1.5 | 5.6 | (494) | (36.8) |
| Financing Cash Flow | (75.9) | (3.3) | (0.2) | (23.8) | (32.3) | 83.6 | (0.1) | (90.4) | 0 | (36.8) |
| Cash Position | ||||||||||
| Net Change in Cash | (23.3) | 16.4 | 63.4 | (55.5) | 44 | 70.8 | (22.1) | (30.8) | 47.4 | 15.9 |
| Cash at Beginning | 170.4 | 154 | 90.6 | 146.1 | 102.1 | 31.3 | 53.4 | 84.2 | 36.8 | 20.6 |
| Cash at End | 147.1 | 170.4 | 154 | 90.6 | 146.1 | 102.1 | 31.3 | 53.4 | 84.2 | 36.5 |
| Free Cash Flow | 18.8 | 20.4 | 87.7 | (4.4) | 77.5 | (10.3) | 52.1 | 64.9 | 55 | 45.3 |
| Key Metrics | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 844.6 | 811 | 893.4 | 859.4 | 818.1 | 738.3 | 780.6 | 773.4 | 698.1 | 620.1 | 632.3 | 685.2 | 669.8 |
| Gross Profit | 290.5 | 256.9 | 290.3 | 283.5 | 271.5 | 190.2 | 256.7 | 253.9 | 253.5 | 248.4 | 250.6 | 278.6 | 268.1 |
| Operating Income | (27.8) | 32.1 | 77.1 | 88.2 | 74.1 | (33.7) | 8.2 | 44.5 | 83.7 | 109.1 | 127.5 | 176 | 168.8 |
| Net Income | (70.3) | (47.7) | 47.4 | 30.3 | 17.4 | (57.9) | 15.5 | 27.5 | 51.6 | 68.5 | 80 | 110.1 | 109.6 |
| EPS (Diluted) | -1.70 | -1.17 | 0.96 | 0.73 | 0.43 | -1.49 | 0.40 | 0.72 | 1.36 | 1.78 | 2.08 | 2.87 | 2.85 |
| Balance Sheet | |||||||||||||
| Cash & Equivalents | 145 | 168.7 | 152.6 | 89.4 | 144.6 | 100.6 | 29.9 | 51.9 | 83.3 | 36.5 | |||
| Total Assets | 1,107.4 | 1,217 | 1,249.6 | 1,184.4 | 1,147.5 | 1,139.5 | 1,040.8 | 988.5 | 1,040.1 | 622.4 | |||
| Total Debt | 401.9 | 470.4 | 469.8 | 436.4 | 459.4 | 484.5 | 395.1 | 389.8 | 483.9 | 0 | |||
| Stockholders' Equity | 472.6 | 535.1 | 567.7 | 533.4 | 483.3 | 451.7 | 446 | 426.2 | 379 | 526 | |||
| Cash Flow | |||||||||||||
| Operating Cash Flow | 41.7 | 47.3 | 108.4 | 16.9 | 92.6 | 13.2 | 71.9 | 85.3 | 75.2 | 74.2 | |||
| Capital Expenditure | (22.9) | (26.9) | (20.7) | (21.3) | (15.1) | (23.5) | (19.8) | (20.4) | (20.2) | (28.9) | |||
| Free Cash Flow | 18.8 | 20.4 | 87.7 | (4.4) | 77.5 | (10.3) | 52.1 | 64.9 | 55 | 45.3 | |||