# Varex Imaging Corporation (VREX) fundamentals

Data as of 2026-09-08. NASDAQ, United States. Sector: Healthcare / Health Care Technology. Price $18.51, market value $780 million.

## Valuation
- **P/E (trailing): 34.9×** (5-yr avg 37.7×, 3-yr avg 17.6×). Varex Imaging Corporation trades at 34.9× trailing earnings, close to its own five-year average of 37.7×. The Healthcare median in the September 2026 study was 28.5×. Forward P/E is 17.6×, lower than trailing, so analysts expect earnings to grow.
- **Price / sales: 0.9×**. Each dollar of revenue is priced at 0.9×, a low multiple typical of thin-margin businesses or out-of-favour stocks.
- **Price / book: 1.6×**. The shares trade at 1.6× book value; book value is a meaningful part of the valuation.
- **Free-cash-flow yield: -2.6%** (5-yr avg 4.7%). Free cash flow is negative: the business is consuming cash, which is normal for heavy investment phases but a warning otherwise.
- **Earnings yield: 2.9%**. The inverse of the P/E: 2.9% of the price is earned each year.

## Profitability
- **Gross margin: 34.3%**. Varex Imaging Corporation keeps 34.3% of revenue after the direct cost of what it sells.
- **Operating margin: 8.3%**. 8.3% of revenue is left after running the business.
- **Net margin: -8.3%**. The company reported a net loss over the last twelve months.
- **Return on equity: -14.9%**. Return on equity is negative because earnings are negative.
- **Return on invested capital: 8.2%**. Return on all capital, debt included, is 8.2%.
- **Return on assets: 2.0%**. Each dollar of assets produces 2.0% of profit.

## Growth
- **Revenue growth (1 yr): 4.1%** (3-yr -0.6%/yr, 5-yr 2.7%/yr). Revenue grew 4.1% over the last year, against 2.7% a year compounded over five years: growth is accelerating.
- **EPS growth (1 yr): -41.7%**. Earnings per share fell 41.7%, slower than revenue, so margins compressed.

## Financial health
- **Debt to equity: 0.78**. Debt is 0.78 times equity, moderate leverage.
- **Altman Z-score: 2.03**. A Z-score of 2.03 is in the grey zone; not distressed, not clearly safe.
- **Piotroski F-score: 4/9**. 4 of 9 checks pass: mixed.

## Dividends
- **Dividend: none**. Varex Imaging Corporation does not currently pay a dividend.

## Price and momentum
- **Total return (1 yr): 58.7%** (YTD 58.9%, 3-mo 83.4%). The shares are up 58.7% over twelve months including dividends.
- **From 52-week high: -0.6%** (103.6% above the low). Trading within 5% of its 52-week high.
- **200-day average: above**. The price sits above its 200-day moving average, the usual definition of an uptrend.
- **RSI (14-day): 88**. An RSI of 88 is in overbought territory; short-term pullbacks are common from here.
- **Beta (1 yr): 1.38** (volatility 65%). Beta of 1.38 against the S&P 500: the shares move much more than the market.

Live score and charts: https://foliofundamentals.com/analyzer?s=VREX · Page: https://foliofundamentals.com/stocks/vrex

Not investment advice.