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Varex Imaging (VREX) Financials

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$7.80 -0.04 (-0.45%)
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Annual Income Statements for Varex Imaging

Annual Income Statements for Varex Imaging

This table shows Varex Imaging's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2024 2023 2022
Period end date 9/27/2024 9/29/2023 9/30/2022
Net Income / (Loss) Attributable to Common Shareholders
-48 48 30
Consolidated Net Income / (Loss)
-47 49 31
Net Income / (Loss) Continuing Operations
-47 49 31
Total Pre-Tax Income
5.00 31 45
Total Operating Income
32 77 88
Total Gross Profit
257 290 284
Total Revenue
811 893 859
Operating Revenue
811 893 859
Total Cost of Revenue
554 603 576
Operating Cost of Revenue
554 603 576
Total Operating Expenses
225 213 195
Selling, General & Admin Expense
138 128 118
Research & Development Expense
87 85 77
Total Other Income / (Expense), net
-27 -46 -44
Interest Expense
30 29 40
Interest & Investment Income
7.30 3.70 0.40
Other Income / (Expense), net
-4.20 -20 -4.30
Income Tax Expense
52 -17 14
Net Income / (Loss) Attributable to Noncontrolling Interest
0.50 0.50 0.50
Basic Earnings per Share
($1.17) $1.20 $0.76
Weighted Average Basic Shares Outstanding
40.80M 40.30M 39.80M
Diluted Earnings per Share
($1.17) $1.08 $0.73
Weighted Average Diluted Shares Outstanding
40.80M 50.30M 41.60M
Weighted Average Basic & Diluted Shares Outstanding
41.10M 40.50M 40.10M

Quarterly Income Statements for Varex Imaging

This table shows Varex Imaging's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024 Q4 2023 Q3 2023 Q2 2023 Q1 2023 Q4 2022 Q3 2022
Period end date 1/3/2025 9/27/2024 6/28/2024 3/29/2024 12/29/2023 9/29/2023 6/30/2023 3/31/2023 12/30/2022 9/30/2022 7/1/2022
Net Income / (Loss) Attributable to Common Shareholders
-0.30 -50 1.40 1.40 -0.50 32 9.10 4.10 3.10 13 8.20
Consolidated Net Income / (Loss)
-0.10 -50 1.50 1.60 -0.40 32 9.20 4.30 3.20 13 8.40
Net Income / (Loss) Continuing Operations
-0.10 -50 1.50 1.60 -0.40 32 9.20 4.30 3.20 13 8.40
Total Pre-Tax Income
2.50 2.50 0.80 2.30 -0.60 1.00 17 7.80 5.40 14 14
Total Operating Income
11 11 9.30 7.70 4.20 24 24 16 13 25 23
Total Gross Profit
69 67 67 66 57 78 76 73 63 75 73
Total Revenue
200 206 209 206 190 227 232 228 206 231 215
Operating Revenue
200 206 209 206 190 227 232 228 206 231 215
Total Cost of Revenue
131 139 142 140 133 149 156 156 142 157 141
Operating Cost of Revenue
131 139 142 140 133 149 156 156 142 157 141
Total Operating Expenses
57 56 58 58 53 54 52 57 50 50 50
Selling, General & Admin Expense
34 34 36 36 32 32 32 34 30 30 30
Research & Development Expense
24 22 22 23 21 22 20 23 20 20 20
Total Other Income / (Expense), net
-8.70 -8.40 -8.50 -5.40 -4.80 -23 -7.10 -7.80 -7.60 -11 -9.50
Interest Expense
8.00 7.60 7.40 7.90 7.30 7.20 7.30 7.30 7.50 9.40 9.40
Interest & Investment Income
2.10 1.80 1.80 1.80 1.90 1.60 0.90 0.70 0.50 0.20 0.10
Other Income / (Expense), net
-2.80 -2.60 -2.90 0.70 0.60 -18 -0.70 -1.20 -0.60 -1.30 -0.20
Income Tax Expense
2.60 52 -0.70 0.70 -0.20 -31 7.90 3.50 2.20 0.90 5.10
Net Income / (Loss) Attributable to Noncontrolling Interest
0.20 0.10 0.10 0.20 0.10 0.10 0.10 0.20 0.10 0.10 0.20
Basic Earnings per Share
($0.01) ($1.22) $0.03 $0.03 ($0.01) $0.79 $0.23 $0.10 $0.08 $0.32 $0.21
Weighted Average Basic Shares Outstanding
41.10M 40.80M 40.90M 40.70M 40.60M 40.30M 40.40M 40.20M 40.10M 39.80M 39.90M
Diluted Earnings per Share
($0.01) ($1.22) $0.03 $0.03 ($0.01) $0.69 $0.21 $0.10 $0.08 $0.32 $0.20
Weighted Average Diluted Shares Outstanding
41.10M 40.80M 41.20M 41.20M 40.60M 50.30M 50.40M 40.50M 40.60M 41.60M 40.50M
Weighted Average Basic & Diluted Shares Outstanding
41.20M 41.10M 40.90M 40.90M 40.60M 40.50M 40.40M 40.40M 40.10M 40.10M 39.90M

Annual Cash Flow Statements for Varex Imaging

This table details how cash moves in and out of Varex Imaging's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2024 2023 2022
Period end date 9/27/2024 9/29/2023 9/30/2022
Net Change in Cash & Equivalents
16 63 -56
Net Cash From Operating Activities
47 108 17
Net Cash From Continuing Operating Activities
47 108 17
Net Income / (Loss) Continuing Operations
-47 49 31
Consolidated Net Income / (Loss)
-47 49 31
Depreciation Expense
21 20 19
Amortization Expense
13 16 26
Non-Cash Adjustments To Reconcile Net Income
22 40 29
Changes in Operating Assets and Liabilities, net
39 -16 -87
Net Cash From Investing Activities
-28 -45 -48
Net Cash From Continuing Investing Activities
-28 -45 -48
Purchase of Property, Plant & Equipment
-27 -21 -21
Acquisitions
0.90 -1.00 -0.60
Purchase of Investments
-57 -55 -21
Sale of Property, Plant & Equipment
0.00 0.00 -
Sale and/or Maturity of Investments
61 35 2.00
Other Investing Activities, net
-5.30 -3.60 -9.10
Net Cash From Financing Activities
-3.30 -0.20 -24
Net Cash From Continuing Financing Activities
-3.30 -0.20 -24
Repayment of Debt
-4.90 -2.90 -30
Issuance of Common Equity
3.80 3.90 4.90
Other Financing Activities, net
-2.20 -1.20 1.00
Other Net Changes in Cash
-0.10 0.10 -
Cash Interest Paid
28 27 30
Cash Income Taxes Paid
20 17 2.20

Quarterly Cash Flow Statements for Varex Imaging

This table details how cash moves in and out of Varex Imaging's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024 Q4 2023 Q3 2023 Q2 2023 Q1 2023 Q4 2022 Q3 2022
Period end date 1/3/2025 9/27/2024 6/28/2024 3/29/2024 12/29/2023 9/29/2023 6/30/2023 3/31/2023 12/30/2022 9/30/2022 7/1/2022
Net Change in Cash & Equivalents
131 13 15 0.50 -11 34 14 23 -7.80 -10 -16
Net Cash From Operating Activities
9.50 26 8.00 3.10 10 47 38 27 -3.70 17 -2.70
Net Cash From Continuing Operating Activities
9.50 26 8.00 3.10 10 47 38 27 -3.70 17 -2.70
Net Income / (Loss) Continuing Operations
-0.10 -50 1.50 1.60 -0.40 32 9.20 4.30 3.20 13 8.40
Consolidated Net Income / (Loss)
-0.10 -50 1.50 1.60 -0.40 32 9.20 4.30 3.20 13 8.40
Depreciation Expense
6.20 5.60 5.30 5.20 5.10 5.30 4.90 4.70 4.60 4.70 4.70
Amortization Expense
1.70 1.70 2.50 4.20 4.30 4.20 4.00 4.10 4.00 6.20 6.50
Non-Cash Adjustments To Reconcile Net Income
8.20 5.70 6.80 7.50 1.60 24 5.30 6.90 4.00 7.90 7.30
Changes in Operating Assets and Liabilities, net
-6.50 63 -8.10 -15 -0.30 -18 14 7.30 -20 -15 -30
Net Cash From Investing Activities
-3.00 -14 7.70 -1.30 -20 -15 -23 -3.80 -3.70 -28 -14
Net Cash From Continuing Investing Activities
-3.00 -14 7.70 -1.30 -20 -15 -23 -3.80 -3.70 -28 -14
Purchase of Property, Plant & Equipment
-4.20 -6.00 -4.70 -5.80 -10 -5.40 -4.20 -5.60 -5.50 -9.80 -4.00
Acquisitions
0.00 - - - 0.90 -1.00 - - 0.00 -0.30 -
Purchase of Investments
-21 -20 -2.20 -11 -25 -19 -24 -3.60 -9.00 -11 -10
Sale and/or Maturity of Investments
24 15 15 16 14 12 5.20 7.50 11 2.00 -
Other Investing Activities, net
-0.90 -3.90 -0.40 -0.90 -0.10 -1.20 -0.10 -2.10 -0.20 -8.70 0.10
Net Cash From Financing Activities
125 0.80 -1.10 -1.30 -1.70 1.40 -0.70 -0.50 -0.40 0.20 1.40
Net Cash From Continuing Financing Activities
125 0.80 -1.10 -1.30 -1.70 1.40 -0.70 -0.50 -0.40 0.20 1.40
Repayment of Debt
-0.80 -0.70 -1.00 -2.50 -0.70 -0.70 -0.70 -1.10 -0.40 -0.40 -0.50
Issuance of Debt
127 - - - 0.00 - - - - - -
Other Financing Activities, net
-1.20 -0.30 -0.10 -0.80 -1.00 0.20 - -1.40 0.00 -0.70 -
Cash Interest Paid
14 - 14 0.10 14 - 14 0.10 14 - 14
Cash Income Taxes Paid
6.20 3.50 3.90 10 2.70 6.90 3.00 2.30 4.50 2.80 2.80

Annual Balance Sheets for Varex Imaging

This table presents Varex Imaging's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2024 2023 2022
Period end date 9/27/2024 9/29/2023 9/30/2022
Total Assets
1,217 1,250 1,184
Total Current Assets
650 658 610
Cash & Equivalents
169 153 89
Short-Term Investments
32 41 -
Accounts Receivable
158 164 173
Inventories, net
265 278 303
Prepaid Expenses
27 23 44
Plant, Property, & Equipment, net
153 144 141
Total Noncurrent Assets
414 448 433
Long-Term Investments
27 29 46
Goodwill
291 289 285
Intangible Assets
16 22 34
Noncurrent Deferred & Refundable Income Taxes
4.70 41 2.30
Other Noncurrent Operating Assets
75 67 66
Total Liabilities & Shareholders' Equity
1,217 1,250 1,184
Total Liabilities
668 669 638
Total Current Liabilities
196 163 173
Short-Term Debt
46 1.50 2.10
Accounts Payable
59 65 78
Accrued Expenses
79 83 81
Current Deferred Revenue
7.90 10 7.40
Other Current Liabilities
4.00 3.80 4.00
Total Noncurrent Liabilities
472 506 465
Long-Term Debt
397 441 412
Noncurrent Deferred & Payable Income Tax Liabilities
1.40 0.00 0.50
Other Noncurrent Operating Liabilities
73 65 52
Total Equity & Noncontrolling Interests
549 581 547
Total Preferred & Common Equity
535 568 533
Preferred Stock
0.00 0.00 0.00
Total Common Equity
535 568 533
Common Stock
468 451 470
Retained Earnings
70 118 64
Accumulated Other Comprehensive Income / (Loss)
-2.90 -1.20 0.10
Noncontrolling Interest
14 13 13

Quarterly Balance Sheets for Varex Imaging

This table presents Varex Imaging's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q1 2025 Q3 2024 Q2 2024 Q1 2024 Q3 2023 Q2 2023 Q1 2023 Q3 2022
Period end date 1/3/2025 6/28/2024 3/29/2024 12/29/2023 6/30/2023 3/31/2023 12/30/2022 7/1/2022
Total Assets
1,332 1,253 1,252 1,242 1,212 1,191 1,181 1,163
Total Current Assets
657 649 652 646 639 618 607 593
Cash & Equivalents
176 156 142 141 119 104 82 100
Short-Term Investments
37 34 47 - - - - -
Accounts Receivable
138 152 152 140 163 160 158 158
Inventories, net
280 282 286 290 298 311 320 300
Prepaid Expenses
26 26 25 75 59 44 48 36
Plant, Property, & Equipment, net
151 148 148 148 142 143 143 136
Total Noncurrent Assets
524 455 452 448 431 430 431 434
Long-Term Investments
25 27 29 28 47 47 48 48
Goodwill
287 289 289 290 289 289 288 287
Intangible Assets
14 16 18 22 26 29 32 37
Noncurrent Deferred & Refundable Income Taxes
3.10 55 48 42 2.80 2.10 1.90 0.50
Other Noncurrent Operating Assets
195 68 68 66 67 62 61 61
Total Liabilities & Shareholders' Equity
1,332 1,253 1,252 1,242 1,212 1,191 1,181 1,163
Total Liabilities
778 657 662 659 667 658 656 635
Total Current Liabilities
151 195 154 150 159 157 157 172
Short-Term Debt
1.40 46 1.50 1.60 1.80 2.00 2.10 2.50
Accounts Payable
66 70 69 74 75 74 86 83
Accrued Expenses
70 67 69 62 68 67 56 70
Current Deferred Revenue
9.40 8.10 10 9.40 11 10 9.20 12
Other Current Liabilities
3.70 3.70 3.80 3.80 3.40 3.90 3.90 4.70
Total Noncurrent Liabilities
628 463 507 509 508 501 499 463
Long-Term Debt
566 397 441 441 441 441 441 410
Noncurrent Deferred & Payable Income Tax Liabilities
0.00 - - - 0.00 0.00 0.00 0.00
Other Noncurrent Operating Liabilities
62 66 66 68 67 60 58 53
Total Equity & Noncontrolling Interests
554 595 590 583 545 533 525 528
Total Preferred & Common Equity
540 581 576 569 532 520 512 515
Preferred Stock
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity
540 581 576 569 532 520 512 515
Common Stock
470 463 459 454 445 442 438 466
Retained Earnings
70 120 119 118 87 77 73 51
Accumulated Other Comprehensive Income / (Loss)
-0.30 -1.80 -1.70 -2.20 -0.30 0.20 0.10 -1.50
Noncontrolling Interest
14 14 14 14 13 13 13 13

Annual Metrics And Ratios for Varex Imaging

This table displays calculated financial ratios and metrics derived from Varex Imaging's official financial filings.

Metric 2024 2023 2022
Period end date 9/27/2024 9/29/2023 9/30/2022
Growth Metrics
- - -
Revenue Growth
-9.22% 3.96% 5.05%
EBITDA Growth
-33.33% -27.80% 8.91%
EBIT Growth
-50.97% -32.18% 18.84%
NOPAT Growth
-352.60% 96.51% 31.63%
Net Income Growth
-196.92% 58.12% 72.07%
EPS Growth
-208.33% 47.95% 69.77%
Operating Cash Flow Growth
-56.37% 541.42% -81.75%
Free Cash Flow Firm Growth
-285.13% 632.38% -134.60%
Invested Capital Growth
-4.42% -2.98% 11.97%
Revenue Q/Q Growth
-2.61% -0.45% 0.60%
EBITDA Q/Q Growth
-0.80% -16.34% -2.28%
EBIT Q/Q Growth
6.49% -22.69% -2.56%
NOPAT Q/Q Growth
-167.17% 130.15% 16.00%
Net Income Q/Q Growth
-236.02% 62.88% 16.67%
EPS Q/Q Growth
-258.11% 52.11% 15.87%
Operating Cash Flow Q/Q Growth
-30.95% 38.27% -66.47%
Free Cash Flow Firm Q/Q Growth
-159.17% 527.90% -196.21%
Invested Capital Q/Q Growth
-6.82% -2.65% 4.02%
Profitability Metrics
- - -
Gross Margin
31.68% 32.49% 32.99%
EBITDA Margin
7.62% 10.38% 14.94%
Operating Margin
3.96% 8.63% 10.26%
EBIT Margin
3.44% 6.37% 9.76%
Profit (Net Income) Margin
-5.82% 5.45% 3.58%
Tax Burden Percent
-944.00% 155.59% 69.21%
Interest Burden Percent
17.92% 55.01% 53.04%
Effective Tax Rate
1,044.00% -55.59% 30.79%
Return on Invested Capital (ROIC)
-38.70% 14.76% 7.81%
ROIC Less NNEP Spread (ROIC-NNEP)
78.70% -13.85% -3.84%
Return on Net Nonoperating Assets (RNNOA)
30.35% -6.12% -1.91%
Return on Equity (ROE)
-8.35% 8.64% 5.90%
Cash Return on Invested Capital (CROIC)
-34.18% 17.78% -3.48%
Operating Return on Assets (OROA)
2.26% 4.68% 7.20%
Return on Assets (ROA)
-3.83% 4.00% 2.64%
Return on Common Equity (ROCE)
-8.15% 8.43% 5.75%
Return on Equity Simple (ROE_SIMPLE)
-8.82% 8.58% 5.77%
Net Operating Profit after Tax (NOPAT)
-303 120 61
NOPAT Margin
-37.36% 13.43% 7.10%
Net Nonoperating Expense Percent (NNEP)
-117.40% 28.60% 11.65%
Cost of Revenue to Revenue
68.32% 67.51% 67.01%
SG&A Expenses to Revenue
16.99% 14.37% 13.77%
R&D to Revenue
10.73% 9.49% 8.96%
Operating Expenses to Revenue
27.72% 23.86% 22.73%
Earnings before Interest and Taxes (EBIT)
28 57 84
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)
62 93 128
Valuation Ratios
- - -
Price to Book Value (P/BV)
0.91 1.34 1.58
Price to Tangible Book Value (P/TBV)
2.14 2.96 3.92
Price to Revenue (P/Rev)
0.60 0.85 0.98
Price to Earnings (P/E)
0.00 15.75 27.84
Dividend Yield
0.00% 0.00% 0.00%
Earnings Yield
0.00% 6.35% 3.59%
Enterprise Value to Invested Capital (EV/IC)
0.94 1.24 1.38
Enterprise Value to Revenue (EV/Rev)
0.89 1.11 1.32
Enterprise Value to EBITDA (EV/EBITDA)
11.61 10.70 8.84
Enterprise Value to EBIT (EV/EBIT)
25.73 17.44 13.53
Enterprise Value to NOPAT (EV/NOPAT)
0.00 8.27 18.60
Enterprise Value to Operating Cash Flow (EV/OCF)
15.17 9.15 67.18
Enterprise Value to Free Cash Flow (EV/FCFF)
0.00 6.86 0.00
Leverage & Solvency
- - -
Debt to Equity
0.81 0.76 0.76
Long-Term Debt to Equity
0.72 0.76 0.75
Financial Leverage
0.39 0.44 0.50
Leverage Ratio
2.18 2.16 2.24
Compound Leverage Factor
0.39 1.19 1.19
Debt to Total Capital
44.67% 43.24% 43.12%
Short-Term Debt to Total Capital
4.66% 0.15% 0.22%
Long-Term Debt to Total Capital
40.01% 43.09% 42.90%
Preferred Equity to Total Capital
0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital
1.42% 1.30% 1.38%
Common Equity to Total Capital
53.91% 55.46% 55.50%
Debt to EBITDA
7.17 4.77 3.23
Net Debt to EBITDA
3.50 2.37 2.17
Long-Term Debt to EBITDA
6.43 4.76 3.21
Debt to NOPAT
-1.46 3.69 6.79
Net Debt to NOPAT
-0.71 1.83 4.56
Long-Term Debt to NOPAT
-1.31 3.68 6.75
Altman Z-Score
1.71 2.15 2.27
Noncontrolling Interest Sharing Ratio
2.42% 2.36% 2.54%
Liquidity Ratios
- - -
Current Ratio
3.32 4.04 3.52
Quick Ratio
1.83 2.20 1.52
Cash Flow Metrics
- - -
Free Cash Flow to Firm (FCFF)
-268 145 -27
Operating Cash Flow to CapEx
175.84% 523.67% 79.34%
Free Cash Flow to Firm to Interest Expense
-8.86 4.93 -0.68
Operating Cash Flow to Interest Expense
1.57 3.70 0.42
Operating Cash Flow Less CapEx to Interest Expense
0.68 2.99 -0.11
Efficiency Ratios
- - -
Asset Turnover
0.66 0.73 0.74
Accounts Receivable Turnover
5.05 5.30 5.23
Inventory Turnover
2.04 2.08 2.18
Fixed Asset Turnover
5.46 6.27 6.11
Accounts Payable Turnover
8.95 8.44 8.41
Days Sales Outstanding (DSO)
72.30 68.82 69.78
Days Inventory Outstanding (DIO)
178.61 175.72 167.32
Days Payable Outstanding (DPO)
40.78 43.24 43.41
Cash Conversion Cycle (CCC)
210.14 201.30 193.69
Capital & Investment Metrics
- - -
Invested Capital
765 801 825
Invested Capital Turnover
1.04 1.10 1.10
Increase / (Decrease) in Invested Capital
-35 -25 88
Enterprise Value (EV)
718 992 1,135
Market Capitalization
488 759 843
Book Value per Share
$13.08 $14.05 $13.37
Tangible Book Value per Share
$5.57 $6.36 $5.40
Total Capital
993 1,024 961
Total Debt
443 443 414
Total Long-Term Debt
397 441 412
Net Debt
216 220 279
Capital Expenditures (CapEx)
27 21 21
Debt-free, Cash-free Net Working Capital (DFCFNWC)
300 303 350
Debt-free Net Working Capital (DFNWC)
500 497 439
Net Working Capital (NWC)
454 496 437
Net Nonoperating Expense (NNE)
-256 71 30
Net Nonoperating Obligations (NNO)
216 220 279
Total Depreciation and Amortization (D&A)
34 36 45
Debt-free, Cash-free Net Working Capital to Revenue
36.97% 33.93% 40.67%
Debt-free Net Working Capital to Revenue
61.69% 55.63% 51.07%
Net Working Capital to Revenue
55.98% 55.46% 50.83%
Earnings Adjustments
- - -
Adjusted Basic Earnings per Share
($1.17) $1.20 $0.76
Adjusted Weighted Average Basic Shares Outstanding
40.80M 40.30M 39.80M
Adjusted Diluted Earnings per Share
($1.17) $1.08 $0.73
Adjusted Weighted Average Diluted Shares Outstanding
40.80M 50.30M 41.60M
Adjusted Basic & Diluted Earnings per Share
$0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding
41.10M 40.50M 40.10M
Normalized Net Operating Profit after Tax (NOPAT)
22 54 61
Normalized NOPAT Margin
2.77% 6.04% 7.10%
Pre Tax Income Margin
0.62% 3.50% 5.18%
Debt Service Ratios
- - -
EBIT to Interest Expense
0.92 1.94 2.11
NOPAT to Interest Expense
-10.03 4.09 1.53
EBIT Less CapEx to Interest Expense
0.03 1.24 1.57
NOPAT Less CapEx to Interest Expense
-10.92 3.39 1.00
Payout Ratios
- - -
Dividend Payout Ratio
0.00% 0.00% 0.00%
Augmented Payout Ratio
0.00% 0.00% 0.00%

Quarterly Metrics And Ratios for Varex Imaging

This table displays calculated financial ratios and metrics derived from Varex Imaging's official financial filings.

Metric Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024 Q4 2023 Q3 2023 Q2 2023 Q1 2023 Q4 2022 Q3 2022
Period end date 1/3/2025 9/27/2024 6/28/2024 3/29/2024 12/29/2023 9/29/2023 6/30/2023 3/31/2023 12/30/2022 9/30/2022 7/1/2022
Growth Metrics
- - - - - - - - - - -
Revenue Growth
5.16% -9.54% -9.95% -9.64% -7.59% -1.73% 8.25% 6.29% 3.42% 2.25% 1.56%
EBITDA Growth
14.79% -3.11% -56.17% -23.28% -32.38% -52.92% -4.71% -35.20% -13.93% -8.06% -9.57%
EBIT Growth
75.00% 25.76% -72.77% -41.67% -61.29% -71.67% 3.07% -41.46% -6.06% -8.63% -11.97%
NOPAT Growth
-115.24% -127.98% 33.93% -37.71% -61.84% 3,276.50% -9.02% -42.14% 13.49% 46.16% -30.17%
Net Income Growth
75.00% -255.94% -83.70% -62.79% -112.50% 142.42% 9.52% -43.42% 100.00% 50.00% -31.15%
EPS Growth
0.00% -276.81% -85.71% -70.00% -112.50% 115.63% 5.00% -44.44% 166.67% 45.45% -31.03%
Operating Cash Flow Growth
-7.77% -45.01% -78.78% -88.64% 378.38% 175.44% 1,496.30% 428.92% -134.26% -66.21% -112.22%
Free Cash Flow Firm Growth
-84.71% -122.71% 215.90% 126.80% 84.41% 1,330.93% -59.38% -340.02% -335.37% -236.18% -188.55%
Invested Capital Growth
3.15% -4.42% -0.15% -1.08% 2.12% -2.98% 3.67% 8.11% 14.00% 11.97% 3.17%
Revenue Q/Q Growth
-2.87% -1.63% 1.41% 8.53% -16.45% -2.07% 1.75% 10.99% -11.15% 7.88% -0.09%
EBITDA Q/Q Growth
4.49% 9.86% -20.22% 25.35% -11.80% -50.31% 39.66% 10.48% -38.60% 0.59% -5.03%
EBIT Q/Q Growth
1.20% 29.69% -23.81% 75.00% -27.27% -71.91% 63.19% 16.13% -46.78% 2.19% -7.32%
NOPAT Q/Q Growth
99.79% -1,347.68% 225.54% 82.19% -99.62% 5,872.40% 51.39% 11.63% -66.55% 60.92% -3.72%
Net Income Q/Q Growth
99.80% -3,426.67% -6.25% 500.00% -101.25% 247.83% 113.95% 34.38% -75.76% 57.14% 10.53%
EPS Q/Q Growth
99.18% -4,166.67% 0.00% 400.00% -101.45% 228.57% 110.00% 25.00% -75.00% 60.00% 11.11%
Operating Cash Flow Q/Q Growth
-63.32% 223.75% 158.06% -69.90% -78.13% 24.93% 38.10% 837.84% -121.64% 733.33% 67.47%
Free Cash Flow Firm Q/Q Growth
84.93% -1,077.41% 30.73% 195.94% -101.85% 5,088.77% 69.77% 44.17% -46.23% -545.96% -145.52%
Invested Capital Q/Q Growth
15.43% -6.82% 0.74% -4.80% 6.96% -2.65% -0.21% -1.72% 1.61% 4.02% 4.07%
Profitability Metrics
- - - - - - - - - - -
Gross Margin
34.28% 32.62% 31.99% 31.91% 30.05% 34.30% 32.86% 31.86% 30.79% 32.20% 34.22%
EBITDA Margin
8.16% 7.58% 6.79% 8.63% 7.47% 7.08% 13.95% 10.17% 10.21% 14.78% 15.85%
Operating Margin
5.61% 5.30% 4.45% 3.73% 2.21% 10.69% 10.42% 6.84% 6.32% 10.63% 10.72%
EBIT Margin
4.20% 4.04% 3.06% 4.07% 2.53% 2.90% 10.12% 6.31% 6.03% 10.07% 10.63%
Profit (Net Income) Margin
-0.05% -24.26% 0.72% 0.78% -0.21% 14.07% 3.96% 1.88% 1.56% 5.70% 3.92%
Tax Burden Percent
-4.00% -1,996.00% 187.50% 69.57% 66.67% 3,200.00% 53.80% 55.13% 59.26% 93.62% 62.22%
Interest Burden Percent
29.76% 30.12% 12.50% 27.38% -12.50% 15.15% 72.77% 54.17% 43.55% 60.52% 59.21%
Effective Tax Rate
104.00% 2,096.00% -87.50% 30.43% 0.00% -3,100.00% 46.20% 44.87% 40.74% 6.38% 37.78%
Return on Invested Capital (ROIC)
-0.21% -109.55% 8.45% 2.71% 1.60% 375.77% 6.23% 4.18% 4.12% 10.95% 7.30%
ROIC Less NNEP Spread (ROIC-NNEP)
-0.10% -32.60% 2.12% 1.26% 0.46% 76.51% 4.82% 2.58% 2.47% 7.16% 5.15%
Return on Net Nonoperating Assets (RNNOA)
-0.05% -12.57% 0.94% 0.58% 0.25% 33.81% 2.44% 1.33% 1.30% 3.56% 2.79%
Return on Equity (ROE)
-0.26% -122.12% 9.39% 3.29% 1.85% 409.58% 8.67% 5.51% 5.42% 14.51% 10.09%
Cash Return on Invested Capital (CROIC)
-29.13% -34.18% 55.03% 16.86% 12.27% 17.78% 2.85% -0.94% -5.38% -3.48% 3.61%
Operating Return on Assets (OROA)
2.68% 2.65% 2.07% 2.85% 1.83% 2.13% 7.65% 4.76% 4.50% 7.42% 7.81%
Return on Assets (ROA)
-0.03% -15.95% 0.48% 0.54% -0.15% 10.33% 2.99% 1.42% 1.16% 4.20% 2.88%
Return on Common Equity (ROCE)
-0.26% -119.16% 9.16% 3.21% 1.80% 399.92% 8.45% 5.37% 5.28% 14.14% 9.82%
Return on Equity Simple (ROE_SIMPLE)
-8.68% 0.00% 5.97% 7.36% 7.93% 0.00% 5.63% 5.60% 6.33% 0.00% 5.13%
Net Operating Profit after Tax (NOPAT)
-0.45 -218 17 5.36 2.94 778 13 8.60 7.70 23 14
NOPAT Margin
-0.22% -105.77% 8.34% 2.60% 1.55% 341.95% 5.61% 3.77% 3.75% 9.95% 6.67%
Net Nonoperating Expense Percent (NNEP)
-0.12% -76.95% 6.33% 1.45% 1.14% 299.26% 1.41% 1.59% 1.66% 3.79% 2.15%
Return On Investment Capital (ROIC_SIMPLE)
-0.04% - - - 0.29% - - - - - -
Cost of Revenue to Revenue
65.72% 67.38% 68.01% 68.09% 69.95% 65.70% 67.14% 68.14% 69.21% 67.80% 65.78%
SG&A Expenses to Revenue
16.92% 16.67% 17.03% 17.22% 17.05% 14.03% 13.82% 14.94% 14.74% 12.83% 14.08%
R&D to Revenue
11.76% 10.65% 10.52% 10.96% 10.79% 9.59% 8.61% 10.08% 9.73% 8.73% 9.42%
Operating Expenses to Revenue
28.68% 27.32% 27.55% 28.18% 27.84% 23.61% 22.44% 25.02% 24.47% 21.56% 23.50%
Earnings before Interest and Taxes (EBIT)
8.40 8.30 6.40 8.40 4.80 6.60 24 14 12 23 23
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)
16 16 14 18 14 16 32 23 21 34 34
Valuation Ratios
- - - - - - - - - - -
Price to Book Value (P/BV)
1.08 0.91 1.04 1.28 1.46 1.34 1.79 1.40 1.59 1.58 1.65
Price to Tangible Book Value (P/TBV)
2.45 2.14 2.18 2.74 3.23 2.96 4.39 3.62 4.24 3.92 4.46
Price to Revenue (P/Rev)
0.71 0.60 0.72 0.86 0.94 0.85 1.06 0.83 0.94 0.98 0.99
Price to Earnings (P/E)
0.00 0.00 17.62 17.54 18.57 15.75 32.39 25.59 25.44 27.84 32.78
Dividend Yield
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield
0.00% 0.00% 5.68% 5.70% 5.39% 6.35% 3.09% 3.91% 3.93% 3.59% 3.05%
Enterprise Value to Invested Capital (EV/IC)
1.05 0.94 1.03 1.19 1.30 1.24 1.51 1.25 1.36 1.38 1.42
Enterprise Value to Revenue (EV/Rev)
1.13 0.89 1.01 1.14 1.27 1.11 1.39 1.18 1.32 1.32 1.32
Enterprise Value to EBITDA (EV/EBITDA)
14.54 11.61 13.52 12.10 12.99 10.70 11.22 9.20 9.13 8.84 8.58
Enterprise Value to EBIT (EV/EBIT)
29.50 25.73 32.16 22.50 22.63 17.44 16.89 14.18 13.73 13.53 13.10
Enterprise Value to NOPAT (EV/NOPAT)
0.00 0.00 1.87 7.53 9.16 8.27 23.85 19.03 18.82 18.60 21.43
Enterprise Value to Operating Cash Flow (EV/OCF)
19.98 15.17 12.30 9.92 9.12 9.15 15.86 27.21 475.39 67.18 22.37
Enterprise Value to Free Cash Flow (EV/FCFF)
0.00 0.00 1.86 7.05 10.73 6.86 54.00 0.00 0.00 0.00 39.95
Leverage & Solvency
- - - - - - - - - - -
Debt to Equity
1.02 0.81 0.74 0.75 0.76 0.76 0.81 0.83 0.84 0.76 0.78
Long-Term Debt to Equity
1.02 0.72 0.67 0.75 0.76 0.76 0.81 0.83 0.84 0.75 0.78
Financial Leverage
0.53 0.39 0.44 0.46 0.53 0.44 0.51 0.51 0.53 0.50 0.54
Leverage Ratio
2.26 2.18 2.16 2.17 2.19 2.16 2.21 2.23 2.25 2.24 2.29
Compound Leverage Factor
0.67 0.66 0.27 0.60 -0.27 0.33 1.61 1.21 0.98 1.35 1.36
Debt to Total Capital
50.57% 44.67% 42.67% 42.87% 43.18% 43.24% 44.84% 45.39% 45.76% 43.12% 43.86%
Short-Term Debt to Total Capital
0.12% 4.66% 4.45% 0.15% 0.16% 0.15% 0.18% 0.20% 0.22% 0.22% 0.27%
Long-Term Debt to Total Capital
50.45% 40.01% 38.22% 42.73% 43.02% 43.09% 44.65% 45.19% 45.54% 42.90% 43.60%
Preferred Equity to Total Capital
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital
1.25% 1.42% 1.36% 1.36% 1.37% 1.30% 1.36% 1.36% 1.37% 1.38% 1.41%
Common Equity to Total Capital
48.18% 53.91% 55.97% 55.76% 55.45% 55.46% 53.81% 53.24% 52.87% 55.50% 54.73%
Debt to EBITDA
8.87 7.17 7.11 5.50 5.16 4.77 4.00 3.94 3.54 3.23 3.14
Net Debt to EBITDA
5.15 3.50 3.63 2.80 3.18 2.37 2.51 2.59 2.51 2.17 2.02
Long-Term Debt to EBITDA
8.85 6.43 6.37 5.48 5.14 4.76 3.98 3.92 3.53 3.21 3.12
Debt to NOPAT
-2.50 -1.46 0.98 3.42 3.64 3.69 8.50 8.15 7.31 6.79 7.84
Net Debt to NOPAT
-1.45 -0.71 0.50 1.74 2.25 1.83 5.33 5.36 5.17 4.56 5.04
Long-Term Debt to NOPAT
-2.50 -1.31 0.88 3.41 3.63 3.68 8.46 8.11 7.27 6.75 7.79
Altman Z-Score
1.62 1.66 1.80 1.98 2.08 2.02 2.24 2.00 2.06 2.10 2.10
Noncontrolling Interest Sharing Ratio
2.47% 2.42% 2.41% 2.44% 2.47% 2.36% 2.49% 2.54% 2.58% 2.54% 2.62%
Liquidity Ratios
- - - - - - - - - - -
Current Ratio
4.36 3.32 3.34 4.23 4.30 4.04 4.03 3.93 3.86 3.52 3.44
Quick Ratio
2.33 1.83 1.76 2.21 1.87 2.20 1.78 1.68 1.52 1.52 1.49
Cash Flow Metrics
- - - - - - - - - - -
Free Cash Flow to Firm (FCFF)
-27 -182 19 14 -15 802 -16 -53 -95 -65 -10
Operating Cash Flow to CapEx
226.19% 431.67% 170.21% 53.45% 99.04% 872.22% 897.62% 487.50% -67.27% 174.49% -67.50%
Free Cash Flow to Firm to Interest Expense
-3.43 -23.97 2.52 1.80 -2.04 111.42 -2.20 -7.29 -12.71 -6.93 -1.07
Operating Cash Flow to Interest Expense
1.19 3.41 1.08 0.39 1.41 6.54 5.16 3.74 -0.49 1.82 -0.29
Operating Cash Flow Less CapEx to Interest Expense
0.66 2.62 0.45 -0.34 -0.01 5.79 4.59 2.97 -1.23 0.78 -0.71
Efficiency Ratios
- - - - - - - - - - -
Asset Turnover
0.64 0.66 0.68 0.70 0.72 0.73 0.76 0.75 0.75 0.74 0.74
Accounts Receivable Turnover
5.91 5.05 5.28 5.50 5.90 5.30 5.59 5.61 6.08 5.23 5.58
Inventory Turnover
1.94 2.04 1.95 1.94 1.95 2.08 2.04 2.05 2.06 2.18 2.10
Fixed Asset Turnover
5.48 5.46 5.74 5.90 6.03 6.27 6.45 0.00 0.00 6.11 0.00
Accounts Payable Turnover
7.93 8.95 7.84 8.06 7.43 8.44 7.74 7.79 7.40 8.41 7.63
Days Sales Outstanding (DSO)
61.74 72.30 69.10 66.32 61.85 68.82 65.24 65.10 60.05 69.78 65.37
Days Inventory Outstanding (DIO)
188.15 178.61 187.18 188.24 187.51 175.72 178.73 177.63 177.41 167.32 174.11
Days Payable Outstanding (DPO)
46.01 40.78 46.59 45.29 49.15 43.24 47.16 46.87 49.30 43.41 47.86
Cash Conversion Cycle (CCC)
203.88 210.14 209.70 209.27 200.21 201.30 196.81 195.86 188.16 193.69 191.62
Capital & Investment Metrics
- - - - - - - - - - -
Invested Capital
883 765 821 815 856 801 823 824 839 825 793
Invested Capital Turnover
0.94 1.04 1.01 1.04 1.04 1.10 1.11 1.11 1.10 1.10 1.09
Increase / (Decrease) in Invested Capital
27 -35 -1.20 -8.90 18 -25 29 62 103 88 24
Enterprise Value (EV)
929 718 843 974 1,116 992 1,243 1,034 1,141 1,135 1,128
Market Capitalization
586 488 602 735 828 759 952 729 814 843 849
Book Value per Share
$13.14 $13.08 $14.21 $14.19 $14.01 $14.05 $13.16 $12.96 $12.76 $13.37 $12.93
Tangible Book Value per Share
$5.81 $5.57 $6.75 $6.62 $6.32 $6.36 $5.37 $5.02 $4.78 $5.40 $4.78
Total Capital
1,121 993 1,038 1,033 1,026 1,024 988 976 968 961 941
Total Debt
567 443 443 443 443 443 443 443 443 414 413
Total Long-Term Debt
566 397 397 441 441 441 441 441 441 412 410
Net Debt
329 216 226 225 273 220 278 291 314 279 265
Capital Expenditures (CapEx)
4.20 6.00 4.70 5.80 10 5.40 4.20 5.60 5.50 9.80 4.00
Debt-free, Cash-free Net Working Capital (DFCFNWC)
295 300 311 310 356 303 363 359 371 350 324
Debt-free Net Working Capital (DFNWC)
508 500 501 499 497 497 482 463 452 439 424
Net Working Capital (NWC)
506 454 455 498 496 496 480 461 450 437 421
Net Nonoperating Expense (NNE)
-0.35 -168 16 3.76 3.34 746 3.82 4.30 4.50 9.83 5.91
Net Nonoperating Obligations (NNO)
329 216 226 225 273 220 278 291 314 279 265
Total Depreciation and Amortization (D&A)
7.90 7.30 7.80 9.40 9.40 9.50 8.90 8.80 8.60 11 11
Debt-free, Cash-free Net Working Capital to Revenue
35.96% 36.97% 37.34% 36.27% 40.54% 33.93% 40.47% 40.79% 42.77% 40.67% 37.93%
Debt-free Net Working Capital to Revenue
61.87% 61.69% 60.15% 58.34% 56.64% 55.63% 53.68% 52.65% 52.18% 51.07% 49.58%
Net Working Capital to Revenue
61.70% 55.98% 54.61% 58.17% 56.46% 55.46% 53.48% 52.43% 51.94% 50.83% 49.29%
Earnings Adjustments
- - - - - - - - - - -
Adjusted Basic Earnings per Share
($0.01) ($1.22) $0.03 $0.03 ($0.01) $0.79 $0.23 $0.10 $0.08 $0.32 $0.21
Adjusted Weighted Average Basic Shares Outstanding
41.10M 40.80M 40.90M 40.70M 40.60M 40.30M 40.40M 40.20M 40.10M 39.80M 39.90M
Adjusted Diluted Earnings per Share
($0.01) ($1.22) $0.03 $0.03 ($0.01) $0.69 $0.21 $0.10 $0.08 $0.32 $0.20
Adjusted Weighted Average Diluted Shares Outstanding
41.10M 40.80M 41.20M 41.20M 40.60M 50.30M 50.40M 40.50M 40.60M 41.60M 40.50M
Adjusted Basic & Diluted Earnings per Share
$0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding
41.20M 41.10M 40.90M 40.90M 40.60M 40.50M 40.40M 40.40M 40.10M 40.10M 39.90M
Normalized Net Operating Profit after Tax (NOPAT)
7.84 7.63 6.51 5.36 2.94 17 13 8.60 7.70 23 14
Normalized NOPAT Margin
3.92% 3.71% 3.11% 2.60% 1.55% 7.48% 5.61% 3.77% 3.75% 9.95% 6.67%
Pre Tax Income Margin
1.25% 1.22% 0.38% 1.12% -0.32% 0.44% 7.36% 3.42% 2.63% 6.09% 6.29%
Debt Service Ratios
- - - - - - - - - - -
EBIT to Interest Expense
1.05 1.09 0.86 1.06 0.66 0.92 3.22 1.97 1.65 2.48 2.43
NOPAT to Interest Expense
-0.06 -28.63 2.36 0.68 0.40 108.00 1.78 1.18 1.03 2.45 1.52
EBIT Less CapEx to Interest Expense
0.53 0.30 0.23 0.33 -0.77 0.17 2.64 1.21 0.92 1.44 2.00
NOPAT Less CapEx to Interest Expense
-0.58 -29.42 1.72 -0.06 -1.02 107.25 1.21 0.41 0.29 1.41 1.10
Payout Ratios
- - - - - - - - - - -
Dividend Payout Ratio
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%

Frequently Asked Questions About Varex Imaging's Financials

When does Varex Imaging's financial year end?

According to the most recent income statement we have on file, Varex Imaging's fiscal year ends in September. Their fiscal year 2024 ended on September 27, 2024.

How has Varex Imaging's net income changed over the last 2 years?

Varex Imaging's net income appears to be on a downward trend, with a most recent value of -$47.20 million in 2024, falling from $30.80 million in 2022. The previous period was $48.70 million in 2023. Find out what analysts predict for Varex Imaging in the coming months.

What is Varex Imaging's operating income?
Varex Imaging's total operating income in 2024 was $32.10 million, based on the following breakdown:
  • Total Gross Profit: $256.90 million
  • Total Operating Expenses: $224.80 million
How has Varex Imaging revenue changed over the last 2 years?

Over the last 2 years, Varex Imaging's total revenue changed from $859.40 million in 2022 to $811 million in 2024, a change of -5.6%.

How much debt does Varex Imaging have?

Varex Imaging's total liabilities were at $667.80 million at the end of 2024, a 0.1% decrease from 2023, and a 4.7% increase since 2022.

How much cash does Varex Imaging have?

In the past 2 years, Varex Imaging's cash and equivalents has ranged from $89.40 million in 2022 to $168.70 million in 2024, and is currently $168.70 million as of their latest financial filing in 2024.

How has Varex Imaging's book value per share changed over the last 2 years?

Over the last 2 years, Varex Imaging's book value per share changed from 13.37 in 2022 to 13.08 in 2024, a change of -2.1%.



This page (NASDAQ:VREX) was last updated on 5/28/2025 by MarketBeat.com Staff
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