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Stocks · Technology · Electronic Components, NEC

Varex Imaging Corp

VREX Clue Score25
United States Fiscal year ends October CIK 0001681622
$18.46 -0.05% Close, 9 Oct 2026
Alert on the numbers Alert on insider trades
Price $18.46 −30.13% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 20 Jan 2017. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2017Revenue698.1Operating income83.7Net income51.6EPS, diluted1.36Fiscal year 2018Revenue773.4 +10.8%Operating income44.5Net income27.5 −46.7%EPS, diluted0.72 −47.1%Fiscal year 2019Revenue780.6 +0.9%Operating income45.7Net income15.5 −43.6%EPS, diluted0.40 −44.4%Fiscal year 2020Revenue738.3 −5.4%Operating income−33.7Net income−57.9 −473.5%EPS, diluted−1.49 −472.5%Fiscal year 2021Revenue818.1 +10.8%Operating income74.1Net income17.4EPS, diluted0.43Fiscal year 2022Revenue859.4 +5.0%Operating income88.2Net income30.3 +74.1%EPS, diluted0.73 +69.8%Fiscal year 2023Revenue893.4 +4.0%Operating income77.1Net income47.4 +56.4%EPS, diluted1.07 +46.6%Fiscal year 2024Revenue811.0 −9.2%Operating income32.1Net income−48.8 −203.0%EPS, diluted−1.20 −212.1%Fiscal year 2025Revenue844.6 +4.1%Operating income−27.8Net income−70.3EPS, diluted−1.70
FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue 698.1 773.4 780.6 738.3 818.1 859.4 893.4 811.0 844.6
Growth +10.8% +0.9% −5.4% +10.8% +5.0% +4.0% −9.2% +4.1%
Operating income 83.7 44.5 45.7 −33.7 74.1 88.2 77.1 32.1 −27.8
Net income 51.6 27.5 15.5 −57.9 17.4 30.3 47.4 −48.8 −70.3
Growth −46.7% −43.6% −473.5% +74.1% +56.4% −203.0%
EPS, diluted 1.36 0.72 0.40 −1.49 0.43 0.73 1.07 −1.20 −1.70
Growth −47.1% −44.4% −472.5% +69.8% +46.6% −212.1%

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Gross marginOperating marginNet margin
Fiscal year 2017Gross margin36.3%Operating margin12.0%Net margin7.4%Free cash flow margin7.9%Fiscal year 2018Gross margin32.8%Operating margin5.8%Net margin3.6%Free cash flow margin8.4%Fiscal year 2019Gross margin32.9%Operating margin5.9%Net margin2.0%Free cash flow margin6.7%Fiscal year 2020Gross margin25.8%Operating margin−4.6%Net margin−7.8%Free cash flow margin−1.4%Fiscal year 2021Gross margin33.2%Operating margin9.1%Net margin2.1%Free cash flow margin9.5%Fiscal year 2022Gross margin33.0%Operating margin10.3%Net margin3.5%Free cash flow margin−0.5%Fiscal year 2023Gross margin32.5%Operating margin8.6%Net margin5.3%Free cash flow margin9.8%Fiscal year 2024Gross margin31.7%Operating margin4.0%Net margin−6.0%Free cash flow margin2.5%Fiscal year 2025Gross margin34.4%Operating margin−3.3%Net margin−8.3%Free cash flow margin2.2%
FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Gross margin 36.3% 32.8% 32.9% 25.8% 33.2% 33.0% 32.5% 31.7% 34.4%
Operating margin 12.0% 5.8% 5.9% −4.6% 9.1% 10.3% 8.6% 4.0% −3.3%
Net margin 7.4% 3.6% 2.0% −7.8% 2.1% 3.5% 5.3% −6.0% −8.3%
Free cash flow margin 7.9% 8.4% 6.7% −1.4% 9.5% −0.5% 9.8% 2.5% 2.2%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2017Operating cash flow75.2Capital expenditure−20.2Free cash flow55.0Fiscal year 2018Operating cash flow85.3Capital expenditure−20.4Free cash flow64.9 +18.0%Fiscal year 2019Operating cash flow71.9Capital expenditure−19.8Free cash flow52.1 −19.7%Fiscal year 2020Operating cash flow13.2Capital expenditure−23.5Free cash flow−10.3 −119.8%Fiscal year 2021Operating cash flow92.6Capital expenditure−15.1Free cash flow77.5Fiscal year 2022Operating cash flow16.9Capital expenditure−21.3Free cash flow−4.4 −105.7%Fiscal year 2023Operating cash flow108.4Capital expenditure−20.7Free cash flow87.7Fiscal year 2024Operating cash flow47.3Capital expenditure−26.9Free cash flow20.4 −76.7%Fiscal year 2025Operating cash flow41.7Capital expenditure−22.9Free cash flow18.8 −7.8%
FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow 75.2 85.3 71.9 13.2 92.6 16.9 108.4 47.3 41.7
Capital expenditure −20.2 −20.4 −19.8 −23.5 −15.1 −21.3 −20.7 −26.9 −22.9
Free cash flow 55.0 64.9 52.1 −10.3 77.5 −4.4 87.7 20.4 18.8
Growth +18.0% −19.7% −119.8% −105.7% −76.7% −7.8%

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2017Cash83.3Total debt483.9Net cash (debt)−400.6Shareholders’ equity379.0Debt to equity1.28Fiscal year 2018Cash51.9Total debt389.8Net cash (debt)−337.9Shareholders’ equity426.2Debt to equity0.91Fiscal year 2019Cash29.9Total debt395.1Net cash (debt)−365.2Shareholders’ equity444.9Debt to equity0.89Fiscal year 2020Cash100.6Total debt455.3Net cash (debt)−354.7Shareholders’ equity451.7Debt to equity1.01Fiscal year 2021Cash144.6Total debt434.5Net cash (debt)−289.9Shareholders’ equity483.3Debt to equity0.90Fiscal year 2022Cash89.4Total debt414.4Net cash (debt)−325.0Shareholders’ equity533.4Debt to equity0.78Fiscal year 2023Cash152.6Total debt442.6Net cash (debt)−290.0Shareholders’ equity567.7Debt to equity0.78Fiscal year 2024Cash168.7Total debt443.4Net cash (debt)−274.7Shareholders’ equity529.1Debt to equity0.84Fiscal year 2025Cash145.0Total debt367.5Net cash (debt)−222.5Shareholders’ equity472.6Debt to equity0.78
FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash 83.3 51.9 29.9 100.6 144.6 89.4 152.6 168.7 145.0
Total debt 483.9 389.8 395.1 455.3 434.5 414.4 442.6 443.4 367.5
Net cash (debt) −400.6 −337.9 −365.2 −354.7 −289.9 −325.0 −290.0 −274.7 −222.5
Shareholders’ equity 379.0 426.2 444.9 451.7 483.3 533.4 567.7 529.1 472.6
Debt to equity 1.28 0.91 0.89 1.01 0.90 0.78 0.78 0.84 0.78

In millions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Income statement

In millions of USD, except per-share figures; shares in millions. Fiscal years ending October, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2017 29 Sep 2017 FY2018 28 Sep 2018 FY2019 27 Sep 2019 FY2020 2 Oct 2020 FY2021 1 Oct 2021 FY2022 30 Sep 2022 FY2023 29 Sep 2023 FY2024 27 Sep 2024 FY2025 3 Oct 2025
Revenue and profit
698.1 773.4 780.6 738.3 818.1 859.4 893.4 811.0 844.6
Growth +10.8% +0.9% −5.4% +10.8% +5.0% +4.0% −9.2% +4.1%
444.6 519.5 523.9 548.1 546.6 575.9 603.1 554.1 554.1
253.5 253.9 256.7 190.2 271.5 283.5 290.3 256.9 290.5
Growth +0.2% +1.1% −25.9% +42.7% +4.4% +2.4% −11.5% +13.1%
67.3 83.0 78.1 78.9 71.9 77.0 84.8 87.0 91.1
102.5 123.4 128.1 142.2 125.5 118.3 128.4 137.8 133.3
83.7 44.5 45.7 −33.7 74.1 88.2 77.1 32.1 −27.8
Growth −46.8% +2.7% −173.7% +19.0% −12.6% −58.4% −186.6%
74.8 25.7 21.5 −72.6 28.6 44.5 31.3 5.0 −59.2
22.8 −2.6 5.7 −15.2 10.7 13.7 −16.6 53.3 10.7
51.6 27.5 15.5 −57.9 17.4 30.3 47.4 −48.8 −70.3
Growth −46.7% −43.6% −473.5% +74.1% +56.4% −203.0%
Per share
1.37 0.73 0.41 −1.49 0.44 0.76 1.18 −1.20 −1.70
1.36 0.72 0.40 −1.49 0.43 0.73 1.07 −1.20 −1.70
Growth −47.1% −44.4% −472.5% +69.8% +46.6% −212.1%
37.6 37.9 38.2 38.8 39.3 39.8 40.3 40.8 41.4
38.0 38.4 38.6 38.8 40.3 41.6 50.3 40.8 41.4
Growth +1.1% +0.5% +0.5% +3.9% +3.2% +20.9% −18.9% +1.5%

Five years in brief

Worked out from the figures above, not from a press release
  • Revenue grew 2.7% a year over five years.
  • The diluted share count rose 6.7% in five years, which is dilution.
  • Operating margin is up 1.3 points on five years ago, at -3.3%.
  • A net loss in 3 of 9 years on file.