Varex Imaging Corporation

NasdaqGS:VREX Stock Report

Market Cap: US$779.3m

Varex Imaging Valuation

Is VREX undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

3/6

Valuation Score 3/6

  • Below Future Cash Flow Value

  • Significantly Below Future Cash Flow Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of VREX when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Ultimate guide to DCF valuation for stock investing

Learn how to determine fair value like the best investors in the world.

Below Future Cash Flow Value: VREX ($18.49) is trading below our estimate of future cash flow value ($33.88)

Significantly Below Future Cash Flow Value: VREX is trading below future cash flow value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for VREX?

Key metric: As VREX is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for VREX. This is calculated by dividing VREX's market cap by their current earnings.
What is VREX's PE Ratio?
PE Ratio35.3x
EarningsUS$22.10m
Market CapUS$779.32m

Price to Earnings Ratio vs Peers

How does VREX's PE Ratio compare to its peers?

The above table shows the PE ratio for VREX vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average27.1x
INMD InMode
11.2x-0.03%US$870.8m
TCMD Tactile Systems Technology
22x24.07%US$548.2m
IRMD IRADIMED
48.2x13.35%US$1.1b
CNMD CONMED
26.7x29.48%US$1.5b
VREX Varex Imaging
35.3x37.18%US$779.3m

Price-To-Earnings vs Peers: VREX is expensive based on its Price-To-Earnings Ratio (35.3x) compared to the peer average (27.1x).

Historical Price to Earnings Ratio

Historical Price to Earnings Ratio compares a stock's price to its earnings over time. Higher ratios indicate that investors are willing to pay more for the stock.

Fetching historical data

Price to Earnings Ratio vs Industry

How does VREX's PE Ratio compare vs other companies in the US Medical Equipment Industry?

9 CompaniesPrice / EarningsEstimated GrowthMarket Cap
EMBC Embecta
3.3x5.46%US$288.96m
LNSR LENSAR
2.9x-74.29%US$100.71m
SNWV SANUWAVE Health
2.7xn/aUS$40.77m
ADVB Advanced Biomed
3.1xn/aUS$14.79m
VREX 35.3xIndustry Avg. 26.2xNo. of Companies10PE01632486480+
9 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: VREX is expensive based on its Price-To-Earnings Ratio (35.3x) compared to the US Medical Equipment industry average (26.2x).

Price to Earnings Ratio vs Fair Ratio

What is VREX's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

VREX PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio35.3x
Fair PE Ratio38.6x

Price-To-Earnings vs Fair Ratio: VREX is good value based on its Price-To-Earnings Ratio (35.3x) compared to the estimated Fair Price-To-Earnings Ratio (38.6x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst VREX forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentUS$18.49
US$19.20
+3.84%
2.42%US$20.00US$18.90n/a4
Aug ’27US$11.19
US$18.00
+60.86%
18.59%US$22.00US$12.00n/a5
Jul ’27US$10.68
US$18.00
+68.54%
18.59%US$22.00US$12.00n/a5
Jun ’27US$10.03
US$18.80
+87.44%
10.85%US$22.00US$16.00n/a5
May ’27US$11.61
US$18.40
+58.48%
10.65%US$22.00US$16.00n/a5
Apr ’27US$10.62
US$18.40
+73.26%
10.65%US$22.00US$16.00n/a5
Mar ’27US$13.17
US$18.40
+39.71%
10.65%US$22.00US$16.00n/a5
Feb ’27US$13.94
US$17.20
+23.39%
18.89%US$22.00US$12.00n/a5
Jan ’27US$11.65
US$17.20
+47.64%
18.89%US$22.00US$12.00n/a5
Dec ’26US$11.52
US$17.20
+49.31%
18.89%US$22.00US$12.00n/a5
Nov ’26US$11.69
US$17.80
+52.27%
23.14%US$23.00US$12.00n/a5
Oct ’26US$12.23
US$17.40
+42.27%
27.10%US$23.00US$10.00n/a5
Sep ’26US$11.55
US$17.40
+50.65%
27.10%US$23.00US$10.00n/a5
Aug ’26US$7.18
US$16.60
+131.20%
31.33%US$23.00US$10.00US$11.195
Jul ’26US$8.57
US$16.60
+93.70%
31.33%US$23.00US$10.00US$10.685
Jun ’26US$7.67
US$16.60
+116.43%
31.33%US$23.00US$10.00US$10.035
May ’26US$8.39
US$21.20
+152.68%
17.24%US$26.00US$15.00US$11.615
Apr ’26US$11.43
US$21.20
+85.48%
17.24%US$26.00US$15.00US$10.625
Mar ’26US$12.86
US$21.20
+64.85%
17.24%US$26.00US$15.00US$13.175
Feb ’26US$13.74
US$22.20
+61.57%
23.21%US$30.00US$16.00US$13.945
Jan ’26US$14.59
US$22.20
+52.16%
23.21%US$30.00US$16.00US$11.655
Dec ’25US$16.68
US$22.20
+33.09%
23.21%US$30.00US$16.00US$11.525
Nov ’25US$13.20
US$22.20
+68.18%
23.21%US$30.00US$16.00US$11.695
Oct ’25US$11.86
US$22.20
+87.18%
23.21%US$30.00US$16.00US$12.235
Sep ’25US$12.48
US$22.20
+77.88%
23.21%US$30.00US$16.00US$11.555
Aug ’25US$14.27
US$23.25
+62.93%
21.80%US$30.00US$17.00US$7.184
US$19.2
Fair Value
3.7% undervalued intrinsic discount
4
Number of Analysts

Analyst Forecast: Target price is less than 20% higher than the current share price.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/08/17 10:44
End of Day Share Price 2026/08/14 00:00
Earnings2026/07/03
Annual Earnings2025/10/03

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Varex Imaging Corporation is covered by 9 analysts. 5 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Anderson SchockB. Riley Securities, Inc.
Lawrence SolowCJS Securities, Inc.
Rajbir DenhoyJefferies LLC