Varex Imaging stock analysis
Varex Imaging (VI4) Stock Price & Analysis
VI4 Stock Chart & Stats
- Day’s Range
- N/A
- 52-Week Range
- N/A
- Previous Close
- N/A
- Volume
- N/A
- Average Volume (3M)
- N/A
- Market Cap
- CHF 641.79M
- Enterprise Value
- CHF 745.99M
- Total Cash (Recent Filing)
- CHF 99.20M
- Total Debt (Recent Filing)
- CHF 373.60M
- Price to Earnings (P/E)
- 35.1
- Beta
- -1.11
- Next Earnings
- Nov 24, 2026 (Est.)
- EPS Estimate
- 0.24
- Next Dividend Ex-Date
- N/A
- Dividend Yield
- N/A
Bulls Say, Bears Say
Bulls Say
Installed-base Demand
Replacement demand tied to the installed base gives Varex a recurring component revenue stream beyond new equipment shipments. This supports business durability because customers require tubes and related parts through service cycles, while detector and software sales add exposure to upgrades and new system builds.
Margin And Profit Recovery
Relatively stable gross margins indicate that Varex retains meaningful economics in its imaging component portfolio despite uneven earnings. The return to positive operating profit and net income in TTM provides a foundation for recovery, although the durability of that improvement still depends on execution.
Strategic Acquisition Fit
The proposed Teledyne combination could place Varex's X-ray tubes and advanced photon-counting detectors within a broader industrial imaging platform. Complementary products and limited overlap may improve market reach and technology breadth, while shareholder approval increases visibility for the planned ownership transition.
Bears Say
Weak Cash Conversion
Recent cash generation is materially weaker than accounting profitability, reducing the funds available for investment, debt reduction, and resilience during demand fluctuations. The swing from strong 2023 free cash flow to a TTM outflow indicates that working-capital, capital-spending, or other cash demands require close monitoring.
Earnings Volatility
The recent profit cycle has been inconsistent, and the low TTM net margin leaves limited protection if revenue, product mix, or operating costs deteriorate. Prior loss years show that positive earnings have not yet demonstrated a stable multi-year base, making future cash generation and returns more sensitive to execution.
Merger Closing Risk
Although shareholders approved the transaction, Varex still faces several regulatory closing conditions across jurisdictions, so ownership transition and expected strategic benefits are not yet finalized. Delays or adverse legal and regulatory outcomes could extend uncertainty and postpone the combination with Teledyne.
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Varex Imaging Stock Smart Score
Company Description
Varex Imaging
Varex Imaging Corporation (VREX) specializes in the development and production of X-ray imaging components. Its operations are divided into two primary divisions: Medical and Industrial. Within the Medical segment, Varex provides a comprehensive range of X-ray imaging components. These include essential hardware like X-ray tubes, digital detectors, and high-voltage connectors, alongside sophisticated software solutions for image processing, 3D reconstruction, and computer-aided diagnostics. The segment also supplies critical ancillary devices such as collimators, generators, and automatic exposure control mechanisms. These medical products serve a wide spectrum of applications, from general diagnostic imaging like radiography and fluoroscopy, to specialized areas such as mammography, computed tomography (CT), cardiac procedures, dental imaging, and surgical applications. They are also vital for radiation therapy, oncology, and advanced computer-aided detection systems. The Industrial segment focuses on providing X-ray technology for security and industrial inspection. Its offerings include Linatron X-ray accelerators, X-ray tubes, digital detectors, and high-voltage connectors. These components are crucial for diverse applications such as airport security scanning, cargo screening at border crossings, and nondestructive testing across various industries. Varex distributes its products through multiple channels, including direct sales to end-users, partnerships with imaging system Original Equipment Manufacturers (OEMs), independent service providers, and a network of distributors. With a significant global footprint, the company maintains operations across North America, South America, Europe, Russia, the Middle East, India, Africa, Asia, and Australia. Established in 2016, Varex Imaging Corporation is headquartered in Salt Lake City, Utah.
- Sector
- Healthcare
- Industry
- Medical - Devices
- CEO
- Sunny S. Sanyal
- Employees
- 2,500
- Website
- www.vareximaging.com
- Address
- 1678 South Pioneer Road, Salt Lake City, UT, 84104, US
Varex Imaging (VI4) Earnings & Revenues
VI4 Earnings Call
Earnings Call SentimentNeutral
The call highlighted solid execution on guidance, margin resilience (non‑GAAP gross margin at the high end), successful debt refinancing and clear technology and industrial pipeline momentum (CT, photon-counting, cargo systems). Offsetting these positives are modest top‑line growth (+1% YoY), a GAAP loss, margin erosion versus the prior year (down ~240 bps), elevated inventory and short‑term working capital pressures. Management provided multi-quarter visibility (annual guidance) and actions (India ramp, pricing/contract renewal levers) that could improve margins over time, but near-term growth and margin recovery remain modest.
View all CH:VI4 earnings summaries