Reading the tape
NASDAQ: VREX
Varex Imaging Corporation
Healthcare · Medical - Devices
Market Cap
$483.33M
52w High
$14.57
52w Low
$6.76
P/E
-7.12
Volume
196.73K
Outstanding Shares
41.92M
Price vs Fundamentals
Why The Stock Is Moving
Momentum disconnected from fundamentalsModerate confidence
Note: The most recent financial data is over 3 months old. Metrics shown may not reflect the latest reporting period.
1Y Price: 36.45%Revenue (TTM): 4.09%FCF (TTM): -151.55%P/FCF: 83rd pct
What changed
The stock rose 36.45% over the last year. Revenue grew 4.09% over the trailing twelve months. Operating margin moved from 4.76% to -2.76%. Free cash flow declined 151.55% over the trailing twelve months.
What the market seems to be pricing
The stock is rising despite deteriorating fundamentals and now sits at the 83rd percentile of its historical P/FCF range. This is a momentum-driven move — the market may be front-running a recovery that has not yet appeared in reported numbers.
What would invalidate this read
Operating margin (currently -2.76%) would need to stabilize or improve to justify the move. This read is wrong if the next period shows operating metrics turning the corner. At that point the price would be anticipating real improvement rather than running ahead of it.
Company profile
Varex Imaging Corporation designs and manufactures X-ray imaging components.
CEOSunny S. Sanyal
SectorHealthcare
IndustryMedical - Devices
Employees2,300
IPO dateJan 23, 2017
Valuation
Forward P/E—
EV/EBITDA214.63
Enterprise value$751.22M
Stock splits
No stock splits recorded for this ticker.
Profitability & growth
Revenue growth4.9%
Gross margin34.15%▲8.58%vs FY2024
Operating margin-2.76%▼183.16%vs FY2024
ROE-14.88%▼66.87%vs FY2024
Analyst consensus
RatingBuy
Target price$14.50▲25.76%
4
Buy
2
Hold
0
Sell
Analyst ratings tend to be lagging indicators. Use as one signal among many.
Earnings
Full quarter-by-quarter history of actuals vs estimates. Switch into compare mode to inspect one metric year-over-year.
Next report
May 7, 2026
Q2 FY26 · EPS est $0.22 · Revenue est $216.92M
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