V

Varex Imaging Corp
NASDAQ:VREX

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Varex Imaging Corp
NASDAQ:VREX
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Price: 13.25 USD 0.38% Market Closed
Market Cap: 541.9m USD
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Intrinsic Value

The intrinsic value of one VREX stock under the Base Case scenario is 21.75 USD. Compared to the current market price of 13.25 USD, Varex Imaging Corp is Undervalued by 39%.

The Intrinsic Value is calculated as the average of DCF and Relative values:

VREX Intrinsic Value
21.75 USD
Undervaluation 39%
Intrinsic Value
Price
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Varex Imaging Corp

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Backtest Conclusion
Very Attractive
Current Valuation
+45%
Avg Valuation
-12%
Worst Valuation
-49%
Best Valuation
+45%

Stock is trading at its lowest valuation over the past 5 years.

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Financials
Annual
Quarterly
TTM
Annual
Quarterly
TTM

Balance Sheet Decomposition
Varex Imaging Corp

Current Assets 649.3m
Cash & Short-Term Investments 190m
Receivables 152m
Other Current Assets 307.3m
Non-Current Assets 603.4m
Long-Term Investments 27.1m
PP&E 176.5m
Intangibles 305.3m
Other Non-Current Assets 94.5m
Current Liabilities 194.6m
Accounts Payable 69.6m
Accrued Liabilities 70.5m
Other Current Liabilities 54.5m
Non-Current Liabilities 476.9m
Long-Term Debt 397.4m
Other Non-Current Liabilities 79.5m
Efficiency

Earnings Waterfall
Varex Imaging Corp

Revenue
832.7m USD
Cost of Revenue
-564.9m USD
Gross Profit
267.8m USD
Operating Expenses
-238.7m USD
Operating Income
29.1m USD
Other Expenses
5.1m USD
Net Income
34.2m USD

Free Cash Flow Analysis
Varex Imaging Corp

Last Value
3-Years Average
FCF Margin
Conversion Rate
Earnings Calls

In the third quarter, revenues were $209 million, a 10% year-over-year decrease largely due to a 15% drop in the Medical segment. Industrial segment revenues increased by 6%, supported by robust cargo inspection sales. The ongoing anticorruption campaign in China contributed to lower sales in the region, which accounted for just 14% of overall revenue, down from 18% last year. Non-GAAP gross margin was 32%, slightly below guidance. Despite these challenges, the company remains focused on innovation and cost leadership, expecting inventory adjustments in the Medical segment to stabilize by early 2025. For the fourth quarter, revenue is forecasted between $190 million and $210 million.

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Fundamental Scores

VREX Profitability Score
Profitability Due Diligence

Varex Imaging Corp's profitability score is 52/100. The higher the profitability score, the more profitable the company is.

52/100
Profitability
Score

Varex Imaging Corp's profitability score is 52/100. The higher the profitability score, the more profitable the company is.

VREX Solvency Score
Solvency Due Diligence

Varex Imaging Corp's solvency score is 45/100. The higher the solvency score, the more solvent the company is.

Short-Term Solvency
Low D/E
Long-Term Solvency
Positive Net Debt
45/100
Solvency
Score

Varex Imaging Corp's solvency score is 45/100. The higher the solvency score, the more solvent the company is.

Wall St
Price Targets

VREX Price Targets Summary
Varex Imaging Corp

Wall Street analysts forecast VREX stock price to rise over the next 12 months.

According to Wall Street analysts, the average 1-year price target for VREX is 22.64 USD with a low forecast of 16.16 USD and a high forecast of 31.5 USD.

Lowest
Price Target
16.16 USD
22% Upside
Average
Price Target
22.64 USD
71% Upside
Highest
Price Target
31.5 USD
138% Upside
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Dividends

Varex Imaging Corp
does not pay dividends
Shareholder Yield

Current shareholder yield for VREX is .

Shareholder yield represents the total return a company provides to its shareholders, calculated as the sum of dividend yield, buyback yield, and debt paydown yield. What is shareholder yield?

Shareholder Yield
Dividend Yield
No dividends
Buyback Yield
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Average
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Debt Paydown Yield
Lowest
Average
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Ownership

VREX Insider Trading
Buy and sell transactions by insiders

Cumulative Transactions Amount
Period Sold Bought Net
3 Months
6 Months
9 Months
12 Months
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Profile

Varex Imaging Corp

Country

United States of America

Industry

Health Care

Market Cap

541.4m USD

Dividend Yield

0%

Description

Varex Imaging Corp. engages in the design, manufacture, and sale of imaging components. The company is headquartered in Salt Lake City, Utah and currently employs 2,100 full-time employees. The company went IPO on 2017-01-20. The company operates through two segments: Medical and Industrial. The Medical segment designs, manufactures, sells and services X-ray imaging components, including X-ray tubes, digital detectors, high voltage connectors, image-processing software and workstations, three-dimensional (3D) reconstruction software, computer-aided diagnostic software, collimators, automatic exposure control devices, generators, heat exchangers, ionization chambers and buckys. These components are used in a range of medical imaging applications. The Industrial segment designs, develops, manufactures, sells and services X-ray imaging products for use in various markets, including security applications for cargo screening at ports and borders, baggage screening at airports, and nondestructive testing and inspection applications used in various other markets.

Contact

UTAH
Salt Lake City
1678 S Pioneer Rd
+18019725000.0
www.vareximaging.com

IPO

2017-01-20

Employees

2 100

Officers

President, CEO & Director
Mr. Sunny S. Sanyal
CFO & Principal Accounting Officer
Mr. Shubham Maheshwari
Chief Legal Officer, General Counsel & Corporate Secretary
Ms. Kimberley E. Honeysett
Senior VP & GM of X-Ray Sources
Mr. Mark S. Jonaitis
Senior VP & GM of X-ray Detectors
Mr. Andrew J. Hartmann
Director of Investor Relations
Mr. Christopher John Belfiore
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Vice President of Medical Global Sales & Marketing
David Carmona
Chief Human Resources Officer
Ms. Karen Aranki
VP & MD for China
Mr. Shaohua Liang
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See Also

Discover More
What is the Intrinsic Value of one VREX stock?

The intrinsic value of one VREX stock under the Base Case scenario is 21.75 USD.

Is VREX stock undervalued or overvalued?

Compared to the current market price of 13.25 USD, Varex Imaging Corp is Undervalued by 39%.

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