Varex Imaging
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Varex Imaging Corporation designs and manufactures X-ray imaging components. The last earnings update was 15 days ago. More info.
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VREX Share Price and Events
7 Day Returns
1 Year Returns
VREX Shareholder Return
| 7 Day | 30 Day | 90 Day | 1 Year | 3 Year | 5 Year | |
|---|---|---|---|---|---|---|
| Varex Imaging (VREX) | -3.9% | -14% | -13.8% | -25.6% | - | - |
| US Medical Equipment | -0.3% | 3.2% | -1% | 10.1% | 55.2% | 90.1% |
| US Market | 0.2% | -1.6% | 2.4% | 2.9% | 36.1% | 41% |
1 Year Return vs Industry and Market
- VREX underperformed the Medical Equipment industry which returned 10.1% over the past year.
- VREX underperformed the Market in United States of America which returned 2.9% over the past year.
VREX Value
Is Varex Imaging undervalued based on future cash flows and its price relative to the stock market?
Value is all about what a company is worth versus what price it is
available for. If you went into a grocery store and all the bananas were on sale
at half price, they could be considered
undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current
share
price of
Varex Imaging
to its discounted cash flow analysis.value.The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Below are the data sources, inputs and calculation used to determine the intrinsic value for Varex Imaging.
| Data Point | Source | Value |
|---|---|---|
| Valuation Model | 2 Stage Free Cash Flow to Equity | |
| Levered Free Cash Flow | Average of 5 Analyst Estimates (S&P Global) | See below |
| Discount Rate (Cost of Equity) | See below | 9.2% |
| Perpetual Growth Rate | 10-Year US Government Bond Rate | 2.7% |
An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.
| Data Point | Calculation/ Source | Result |
|---|---|---|
| Risk-Free Rate | 10-Year US Govt Bond Rate | 2.7% |
| Equity Risk Premium | S&P Global | 6% |
| Medical Equipment Unlevered Beta | Simply Wall St/ S&P Global | 0.9 |
| Re-levered Beta | = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.895 (1 + (1- 21%) (32.44%)) |
1.083 |
| Levered Beta | Levered Beta limited to 0.8 to 2.0 (practical range for a stable firm) |
1.08 |
| Discount Rate/ Cost of Equity |
= Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (1.083 * 5.96%) |
9.19% |
Discounted Cash Flow Calculation for NasdaqGS:VREX using 2 Stage Free Cash Flow to Equity Model
The calculations below outline how an intrinsic value for Varex Imaging is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.
| Levered FCF (USD, Millions) | Source |
Present Value Discounted (@ 9.19%) |
|
|---|---|---|---|
| 2019 | 33.75 | Analyst x2 | 30.91 |
| 2020 | 70.10 | Analyst x2 | 58.80 |
| 2021 | 85.00 | Analyst x1 | 65.30 |
| 2022 | 97.14 | Est @ 14.28% | 68.34 |
| 2023 | 107.64 | Est @ 10.81% | 69.36 |
| 2024 | 116.67 | Est @ 8.39% | 68.85 |
| 2025 | 124.47 | Est @ 6.69% | 67.28 |
| 2026 | 131.32 | Est @ 5.5% | 65.01 |
| 2027 | 137.46 | Est @ 4.67% | 62.32 |
| 2028 | 143.08 | Est @ 4.09% | 59.41 |
| Present value of next 10 years cash flows | $615.59 | ||
| Calculation | Result | |
|---|---|---|
| Terminal Value |
= FCF2028
× (1 + g) ÷ (Discount Rate – g)
= $143.08 × (1 + 2.73%) ÷ (9.19% – 2.73%) |
$2,276.36 |
| Present Value of Terminal Value |
= Terminal Value ÷ (1 + r)10
= $2,276.36 ÷ (1 + 9.19%)10 |
$945.22 |
| Calculation | Result | |
|---|---|---|
| Total Equity Value |
= Present value of next 10 years cash flows +
Terminal Value
= $615.59 + $945.22 |
$1,560.81 |
| Equity Value per Share (USD) |
= Total value / Shares Outstanding
= $1,560.81 / 38.30 |
$40.75 |
| Calculation | Result | |
|---|---|---|
| Value per share (USD) | From above. | $40.75 |
| Current discount | Discount to share price of
$27.86
= -1 x ($27.86 - $40.75) / $40.75 |
31.6% |
Learn more about our DCF calculations in Simply Wall St’s analysis model .
Current Discount
Current Discount Checks
- Varex Imaging's share price is below the future cash flow value, and at a moderate discount (> 20%).
- Varex Imaging's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for
it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing
when they are out of season, or how much your home is worth.The amount the stock market is willing to pay for Varex Imaging's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are
Varex Imaging's earnings available for a low price, and how does
this compare to other companies in the same industry?
| Data Point | Source | Value |
|---|---|---|
| Earnings Per Share * | Company Filings (2019-03-29) in USD | $0.33 |
| NasdaqGS:VREX Share Price ** | NasdaqGS (2019-05-22) in USD | $27.86 |
| United States of America Medical Equipment Industry PE Ratio | Median Figure of 64 Publicly-Listed Medical Equipment Companies | 38.96x |
| United States of America Market PE Ratio | Median Figure of 3,085 Publicly-Listed Companies | 17.79x |
* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.
** Primary Listing of Varex Imaging.
| Calculation | Outcome | |
|---|---|---|
| PE Ratio | = NasdaqGS:VREX Share Price ÷ EPS (both in USD) = 27.86 ÷ 0.33 |
83.47x |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Varex Imaging is overvalued based on earnings compared to the US Medical Equipment industry average.
- Varex Imaging is overvalued based on earnings compared to the United States of America market.
Price based on expected Growth
Does
Varex Imaging's expected growth come at a high price?
| Data Point | Source | Value |
|---|---|---|
| PE Ratio | See PE Ratio Section | 83.47x |
| Net Income Annual Growth Rate | See Future Growth Section. Line of Best Fit* through Consensus Estimate Earnings of 5 Analysts |
27.7%per year |
| United States of America Medical Equipment Industry PEG Ratio | Median Figure of 55 Publicly-Listed Medical Equipment Companies | 2.15x |
| United States of America Market PEG Ratio | Median Figure of 2,123 Publicly-Listed Companies | 1.54x |
*Line of best fit is calculated by linear regression .
| Calculation | Outcome | |
|---|---|---|
| PEG Ratio | = PE Ratio ÷ Net Income Annual Growth Rate = 83.47x ÷ 27.7% |
3.01x |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Varex Imaging is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on
Varex Imaging's
assets?
| Data Point | Source | Value |
|---|---|---|
| Book Value per Share | Company Filings (2019-03-29) in USD | $11.33 |
| NasdaqGS:VREX Share Price * | NasdaqGS (2019-05-22) in USD | $27.86 |
| United States of America Medical Equipment Industry PB Ratio | Median Figure of 182 Publicly-Listed Medical Equipment Companies | 4.48x |
| United States of America Market PB Ratio | Median Figure of 5,201 Publicly-Listed Companies | 1.84x |
| Calculation | Outcome | |
|---|---|---|
| PB Ratio | = NasdaqGS:VREX Share Price ÷ Book Value per Share (both in USD) = 27.86 ÷ 11.33 |
2.46x |
* Primary Listing of Varex Imaging.
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Varex Imaging is good value based on assets compared to the US Medical Equipment industry average.
Value checks
We assess Varex Imaging's value by looking at:- Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
- Is the PE ratio less than the market average, and/ or less than the Medical Equipment industry average (and greater than 0)? (2 checks)
- Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
- Is the PB ratio less than the Medical Equipment industry average (and greater than 0)? (1 check) Varex Imaging has a total score of 2/6, see the detailed checks below.
Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.
Full details on the Value part of the Simply Wall St company analysis model.
VREX Future Performance
The future performance of a company is measured in the same way as past
performance, by looking at estimated
growth
and how much profit it is expected to make.Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Earnings growth vs Low Risk Savings
- Varex Imaging's earnings growth is expected to exceed the low risk savings rate of 2.7%.
Growth vs Market Checks
- Varex Imaging's earnings growth is expected to exceed the United States of America market average.
- Varex Imaging's revenue growth is positive but not above the United States of America market average.
Annual Growth Rates Comparison
| Data Point | Source | Value (per year) |
|---|---|---|
| NasdaqGS:VREX Future Earnings Growth Rate | Line of Best Fit* through Consensus Estimate Earnings of 5 Analysts | 27.7% |
| NasdaqGS:VREX Future Revenue Growth Rate | Line of Best Fit* through Consensus Estimate Revenue of 5 Analysts | 2.7% |
| United States of America Medical Equipment Industry Earnings Growth Rate | Market Cap Weighted Average | 21.9% |
| United States of America Medical Equipment Industry Revenue Growth Rate | Market Cap Weighted Average | 8.1% |
| United States of America Market Earnings Growth Rate | Market Cap Weighted Average | 13.7% |
| United States of America Market Revenue Growth Rate | Market Cap Weighted Average | 7.3% |
*Line of best fit is calculated by linear regression .
Industry and Market average data is calculated daily.
Learn more about our growth rate calculations in Simply Wall St’s analysis model.
Analysts growth expectations
| Data Point | Source | Value |
|---|---|---|
| Past Financials | Company Filings (1 month ago) | See Below |
| Future Estimates | Average of up to 5 Analyst Estimates (S&P Global) | See Below |
| Date (Data in USD Millions) | Revenue | Cash Flow | Net Income * | Avg. No. Analysts |
|---|---|---|---|---|
| 2022-09-30 | 845 | 71 | 2 | |
| 2021-09-30 | 823 | 98 | 62 | 3 |
| 2020-09-30 | 803 | 87 | 52 | 5 |
| 2019-09-30 | 776 | 49 | 40 | 5 |
| Date (Data in USD Millions) | Revenue | Cash Flow | Net Income * |
|---|---|---|---|
| 2019-03-29 | 778 | 73 | 13 |
| 2018-12-28 | 783 | 65 | 19 |
| 2018-09-28 | 773 | 85 | 28 |
| 2018-06-29 | 784 | 82 | 42 |
| 2018-03-30 | 763 | 87 | 49 |
| 2017-12-29 | 717 | 96 | 52 |
| 2017-09-29 | 698 | 75 | 52 |
| 2017-06-30 | 655 | 80 | 59 |
| 2017-03-31 | 636 | 80 | 66 |
| 2016-12-30 | 631 | 87 | 66 |
| 2016-09-30 | 620 | 74 | 69 |
| 2016-07-01 | 608 | 85 | 62 |
*GAAP earnings excluding extraordinary items.
Past and Future Earnings per Share
| Data Point | Source | Value |
|---|---|---|
| Past Financials | Company Filings (1 month ago) | See Below |
| Future Estimates | Average of up to 5 Analyst Estimates (S&P Global) | See Below |
All data from Varex Imaging Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| Date (Data in USD Millions) | EPS * | EPS High Estimate | EPS Low Estimate | Avg. No. Analysts |
|---|---|---|---|---|
| 2022-09-30 | 1.80 | 1.80 | 1.80 | 1.00 |
| 2021-09-30 | 1.59 | 1.61 | 1.57 | 2.00 |
| 2020-09-30 | 1.48 | 1.85 | 1.29 | 4.00 |
| 2019-09-30 | 0.94 | 1.36 | 0.65 | 4.00 |
| Date (Data in USD Millions) | EPS * |
|---|---|
| 2019-03-29 | 0.33 |
| 2018-12-28 | 0.51 |
| 2018-09-28 | 0.73 |
| 2018-06-29 | 1.11 |
| 2018-03-30 | 1.30 |
| 2017-12-29 | 1.37 |
| 2017-09-29 | 1.37 |
| 2017-06-30 | 1.57 |
| 2017-03-31 | 1.75 |
| 2016-12-30 | 1.75 |
| 2016-09-30 | 1.83 |
| 2016-07-01 | 1.66 |
*GAAP earnings excluding extraordinary items.
Future performance checks
We assess Varex Imaging's future performance by looking at:- Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
- Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
- Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
- Is the annual earnings growth rate expected to be above 20%? (1 check)
- Is the annual revenue growth rate expected to be above 20%? (1 check)
- Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Varex Imaging has a total score of 3/6, see the detailed checks below.
Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.
Full details on the Future part of the Simply Wall St company analysis model.
VREX Past Performance
How has Varex Imaging performed over the past 5 years?
The past performance of a company can be measured by how much
growth
it has experienced and how much profit it makes relative to the funds and assets
it has available.
Past earnings growth
Past Earnings growth analysis
- Varex Imaging's year on year earnings growth rate was negative over the past 5 years and the most recent earnings are below average.
- Varex Imaging's 1-year earnings growth is negative, it can't be compared to the 5-year average.
- Varex Imaging's 1-year earnings growth is negative, it can't be compared to the US Medical Equipment industry average.
Earnings and Revenue History
All data from Varex Imaging Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| Date (Data in USD Millions) | Revenue | Net Income * | G+A Expenses | R&D Expenses |
|---|---|---|---|---|
| 2019-03-29 | 777.50 | 12.70 | 119.00 | 78.80 |
| 2018-12-28 | 782.90 | 19.20 | 119.60 | 82.10 |
| 2018-09-28 | 773.40 | 27.50 | 117.00 | 83.00 |
| 2018-06-29 | 784.30 | 42.20 | 111.40 | 84.20 |
| 2018-03-30 | 763.30 | 49.10 | 109.80 | 81.40 |
| 2017-12-29 | 716.90 | 51.80 | 98.80 | 73.70 |
| 2017-09-29 | 698.10 | 51.60 | 97.50 | 67.30 |
| 2017-06-30 | 654.50 | 58.80 | 95.60 | 59.30 |
| 2017-03-31 | 635.70 | 65.70 | 89.70 | 55.60 |
| 2016-12-30 | 630.70 | 65.50 | 90.70 | 54.30 |
| 2016-09-30 | 620.10 | 68.50 | 85.80 | 53.50 |
| 2016-07-01 | 608.00 | 62.10 | 79.60 | 55.30 |
| 2015-10-02 | 632.30 | 80.00 | 72.70 | 50.40 |
| 2014-09-26 | 685.20 | 110.10 | 62.60 | 40.00 |
| 2013-09-27 | 669.80 | 109.60 | 61.70 | 35.90 |
*GAAP earnings excluding extraordinary items.
Performance last year
We want to ensure a company is making the most of what it has available. This is
done by comparing the return (profit) to a company's available
funds,
assets
and
capital.
- Varex Imaging has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
- Varex Imaging used its assets less efficiently than the US Medical Equipment industry average last year based on Return on Assets.
- Varex Imaging's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
Past performance checks
We assess Varex Imaging's performance over the past 5 years by checking for:- Has earnings increased in past 5 years? (1 check)
- Has the earnings growth in the last year exceeded that of the Medical Equipment industry? (1 check)
- Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
- Is the Return on Equity (ROE) higher than 20%? (1 check)
- Is the Return on Assets (ROA) above industry average? (1 check)
- Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
Varex Imaging has a total score of 0/6, see the detailed checks below.
Note: We use GAAP Net Income excluding extraordinary items in all our calculations.
Full details on the Past part of the Simply Wall St company analysis model.
VREX Health
How is Varex Imaging's financial health and their level of debt?
A company's financial position is much like your own financial position,
it includes everything you own
(assets)
and owe
(liabilities).The boxes below represent the relative size of what makes up Varex Imaging's finances.
The net worth of a company is the difference between its assets and liabilities.
- Varex Imaging is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
- Varex Imaging's cash and other short term assets cover its long term commitments.
Balance sheet
Assets
Liabilities and shares
- High level of physical assets or inventory.
- Debt is covered by short term assets, assets are 1.3x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t
bad,
however if the debt is too high, or the company can’t afford to pay the interest
on its debts this may have impacts in the future.The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.
If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
All data from Varex Imaging Company Filings, last reported 1 month ago.
| Date (Data in USD Millions) | Total Equity | Total Debt | Cash & Short Term Investments |
|---|---|---|---|
| 2019-03-29 | 446.00 | 346.10 | 32.70 |
| 2018-12-28 | 440.10 | 375.40 | 57.20 |
| 2018-09-28 | 439.40 | 389.80 | 54.10 |
| 2018-06-29 | 434.30 | 399.60 | 54.60 |
| 2018-03-30 | 424.30 | 417.10 | 56.60 |
| 2017-12-29 | 408.90 | 454.50 | 94.30 |
| 2017-09-29 | 390.20 | 483.90 | 83.30 |
| 2017-06-30 | 369.40 | 498.70 | 89.30 |
| 2017-03-31 | 353.80 | 202.30 | 79.60 |
| 2016-12-30 | 564.00 | 0.00 | 53.90 |
| 2016-09-30 | 536.30 | 0.00 | 36.50 |
| 2016-07-01 | 524.10 | 0.00 | 34.20 |
| 2015-10-02 | 495.60 | 0.00 | 20.60 |
| 2014-09-26 | 359.30 | 0.00 | 0.50 |
| 2013-09-27 |
- Varex Imaging's level of debt (77.6%) compared to net worth is high (greater than 40%).
- Unable to establish if Varex Imaging's debt level has increased without past 5-year debt data.
- Debt is well covered by operating cash flow (21%, greater than 20% of total debt).
- Interest payments on debt are not well covered by earnings (EBIT is 2.7x annual interest expense, ideally 3x coverage).
Financial health checks
We assess Varex Imaging's financial health by checking for:- Are short term assets greater than short term liabilities? (1 check)
- Are short term assets greater than long term liabilities? (1 check)
- Has the debt to equity ratio increased in the past 5 years? (1 check)
- Is the debt to equity ratio over 40%? (1 check)
- Is the debt covered by operating cash flow? (1 check)
- Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check) Varex Imaging has a total score of 3/6, see the detailed checks below.
- Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
- Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
Full details on the Health part of the Simply Wall St company analysis model.
VREX Dividends
What is Varex Imaging's current dividend yield, its reliability and sustainability?
Dividends are regular cash payments to you from the company, similar to a
bank paying you interest on a savings account.
Annual Dividend Income
If you bought
$2,000 of
Varex Imaging
shares you are expected to receive
$0
in your first year as a dividend.
Dividend Amount
- Unable to evaluate Varex Imaging's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
- Unable to evaluate Varex Imaging's dividend against the top 25% market benchmark as the company has not reported any payouts.
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not
wildly increasing/decreasing each year. This graph shows you the historical rate
to count toward your assessment of the stock.We also check to see if the dividend has increased in the past 10 years.
| Data Point | Source | Value |
|---|---|---|
| Past Annualized Dividend Yield | S&P Global Market Data | See Below |
| Past Dividends per Share | Company Filings/ Annualized Dividend Payments | See Below |
| Future Dividends per Share Estimates | Average of up to 5 Analyst Estimates (S&P Global) | See Below |
| United States of America Medical Equipment Industry Average Dividend Yield | Market Cap Weighted Average of 24 Stocks | 1.3% |
| United States of America Market Average Dividend Yield | Market Cap Weighted Average of 2005 Stocks | 2.5% |
| United States of America Minimum Threshold Dividend Yield | 10th Percentile | 0.8% |
| United States of America Bottom 25% Dividend Yield | 25th Percentile | 1.4% |
| United States of America Top 25% Dividend Yield | 75th Percentile | 3.7% |
Industry and Market average data is calculated daily.
Note all dividend per share amounts are annualized and not quarterly or other period.
| Date (Data in $) | Dividend per Share (annual) | Avg. No. Analysts |
|---|---|---|
| 2022-09-30 | ||
| 2021-09-30 | ||
| 2020-09-30 | ||
| 2019-09-30 |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Unable to perform a dividend volatility check as Varex Imaging has not reported any payouts.
- Unable to verify if Varex Imaging's dividend has been increasing as the company has not reported any payouts.
Income/ dividend checks
We assess Varex Imaging's dividend by checking for:- Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
- Is current dividend yield above the bottom 25% of dividend payers? (1 check)
- Is current dividend yield above the top 25% of dividend payers? (1 check)
- Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
- If they have paid a dividend for 10 years has it increased in this time? (1 check)
- How sustainable is the dividend, can Varex Imaging afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks) Varex Imaging has a total score of 0/6, see the detailed checks below.
Full details on the Dividends part of the Simply Wall St company analysis model.
VREX Management
CEO
| COMPENSATION | $3,001,432 |
| AGE | 54 |
| TENURE AS CEO | 2.3 years |
CEO Bio
Mr. Sunny S. Sanyal has been the Chief Executive Officer, President and Director of Varex Imaging Corporation since January 28, 2017. Mr. Sanyal served as Senior Vice President and President of Imaging Components Businesses at Varian Medical Systems, Inc. from February 2014 to January 28, 2017. Mr. Sanyal served as Chief Executive Officer at T-System, Inc., for Practice Management Associates, LLC from August 2010 to July 11, 2014. He guides T-System through an increasingly complex and competitive marketplace as it meets the evolving needs of hospital EDs and he drives strategy to improve the functionality and interoperability of its ED solutions - ultimately providing more value for customers. Mr. Sanyal has significant public company operational experience. Mr. Sanyal served as the President of Provider Technologies division in Atlanta of McKesson Corporation until June 2010. He has served for eight years as President of McKesson Automation division in Cranberry Township, Pa. He was responsible for leading McKesson's technology business for hospitals, health systems, home care providers and physicians at McKesson Provider Technologies. He served as Chief Operating Officer of McKesson Provider Technologies at McKesson Corporation from 2006 to 2010 and its Group President of Clinical Information Systems division from 2004 to 2006. Previously, he served with GE Healthcare, Accenture and IDX Systems Corporation. He served on the boards of HIMSS and the National Alliance for Healthcare IT (NAHIT). He has Extensive experience in medical device and healthcare industry. Mr. Sanyal received his MBA from Harvard Business School, his master's degree in Industrial Engineering from Louisiana State University and his bachelor's degree in Electrical Engineering from the University of Bombay.
CEO Compensation
- Sunny's compensation has been consistent with company performance over the past year, both up more than 20%.
- Sunny's remuneration is about average for companies of similar size in United States of America.
Management Team Tenure
Average tenure and age of the Varex Imaging management team in years:
- The tenure for the Varex Imaging management team is about average.
Management Team
Sunny Sanyal
CEO, President & Director
$3M
54
2.3 yrs
Clarence Verhoef
Senior VP & CFO
$1M
63
2.3 yrs
Kim Honeysett
Senior VP
$759K
46
2.3 yrs
Carl LaCasce
Senior VP & GM of Industrial Imaging
$782K
61
1.3 yrs
Brian Giambattista
Senior VP & GM of X-Ray Detectors
$793K
59
2 yrs
David Frick
Vice President of Operations
Kevin Yankton
Chief Accounting Officer & Corporate Controller
51
2.3 yrs
Howard Goldman
Director of Investor & Public Relations
Chad Holman
Chief Human Resources Officer & VP
Mark Jonaitis
Senior VP & GM of X-Ray Sources
55
2.3 yrs
Board of Directors Tenure
Average tenure and age of the Varex Imaging board of directors in years:
- The average tenure for the Varex Imaging board of directors is less than 3 years, this suggests a new board.
Board of Directors
Ruediger Naumann-Etienne
Chairman
$348K
71
2.3 yrs
Sunny Sanyal
CEO, President & Director
$3M
54
2.3 yrs
Jay Kunkel
Director
$256K
58
2.3 yrs
Erich Reinhardt
Director
$252K
72
2.3 yrs
Christine Tsingos
Director
$257K
59
2.3 yrs
Jocelyn Chertoff
Director
$243K
62
2.1 yrs
Walt Rosebrough
Director
$168K
64
1.1 yrs
Who owns this company?
Recent Insider Transactions
| Announced | Type | Name | Entity | Role | Start | End | Shares | Max Price ($) | Value ($) | |
|---|---|---|---|---|---|---|---|---|---|---|
| 17. Aug 18 | Buy | Clarence Verhoef | Individual | 17. Aug 18 | 17. Aug 18 | 3,300 | $29.58 | $97,614 | ||
| 13. Aug 18 | Buy | Sunny Sanyal | Individual | 10. Aug 18 | 10. Aug 18 | 7,000 | $28.18 | $197,260 | ||
| 09. Aug 18 | Buy | Walter Rosebrough | Individual | 07. Aug 18 | 07. Aug 18 | 10,000 | $28.39 | $283,900 | ||
| 31. May 18 | Sell | Ruediger Naumann-Etienne | Individual | 30. May 18 | 30. May 18 | -1,500 | $37.96 | $-56,942 | ||
Management checks
We assess Varex Imaging's management by checking for:- Is the CEO's compensation unreasonable compared to market cap? (1 check)
- Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
- Is the average tenure of the management team less than 2 years? (1 check)
- Is the average tenure of the board of directors team less than 3 years? (1 check) Varex Imaging has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.
Note: We use the top 6 management executives and board members in our calculations.
Note 2: Insider trading include any internal stakeholders and these transactions .
Full details on the Management part of the Simply Wall St company analysis model.
VREX News
Simply Wall St News
Read This Before Selling Varex Imaging Corporation (NASDAQ:VREX) Shares
So we'll take a look at whether insiders have been buying or selling shares in Varex Imaging Corporation (NASDAQ:VREX). … View our latest analysis for Varex Imaging The Last 12 Months Of Insider Transactions At Varex Imaging Over the last year, we can see that the biggest insider purchase was by Director Walter Rosebrough for US$284k worth of shares, at about US$28.39 per share. … Our data indicates that Varex Imaging insiders own about US$5.3m worth of shares (which is 0.5% of the company).
Simply Wall St - – Full articleIs Varex Imaging Corporation (NASDAQ:VREX) Struggling With Its 6.9% Return On Capital Employed?
Specifically, we'll consider its Return On Capital Employed (ROCE), since that will give us an insight into how efficiently the business can generate profits from the capital it requires. … What is Return On Capital Employed (ROCE)? … ROCE is a metric for evaluating how much pre-tax income (in percentage terms) a company earns on the capital invested in its business.
Simply Wall St - – Full articleThe Varex Imaging Share Price Is Down 12% So Some Shareholders Are Getting Worried
It is doubtless a positive to see that the Varex Imaging Corporation (NASDAQ:VREX) share price has gained some 32% in the last three months. … In fact, the price has declined 12% in a year, falling short of the returns you could get by investing in an index fund. … By comparing earnings per share (EPS) and share price changes over time, we can get a feel for how investor attitudes to a company have morphed over time.
Simply Wall St - – Full articleWhat You Must Know About Varex Imaging Corporation's (NASDAQ:VREX) Beta Value
If you're interested in Varex Imaging Corporation (NASDAQ:VREX), then you might want to consider its beta (a measure of share price volatility) in order to understand how the stock could impact your portfolio. … Every stock in the market is exposed to this volatility, which is linked to the fact that stocks prices are correlated in an efficient market. … Some investors use beta as a measure of how much a certain stock is impacted by market risk (volatility).
Simply Wall St - – Full articleNeed To Know: Varex Imaging Corporation (NASDAQ:VREX) Insiders Have Been Buying Shares
We've lost count of how many times insiders have accumulated shares in a company that goes on to improve markedly. … So we'll take a look at whether insiders have been buying or selling shares in Varex Imaging Corporation (NASDAQ:VREX). … We generally consider it a positive if insiders have been buying on market, even above the current price.
Simply Wall St - – Full articleVarex Imaging Corporation (NASDAQ:VREX) Delivered A Weaker ROE Than Its Industry
While some investors are already well versed in financial metrics (hat tip), this article is for those who would like to learn about Return On Equity (ROE) and why it is important. … One way to conceptualize this, is that for each $1 of shareholders' equity it has, the company made $0.064 in profit. … Return on Equity = Net Profit ÷ Shareholders' Equity
Simply Wall St - – Full articleDoes Varex Imaging Corporation (NASDAQ:VREX) Have A Good P/E Ratio?
We'll look at Varex Imaging Corporation's (NASDAQ:VREX) P/E ratio and reflect on what it tells us about the company's share price. … Varex Imaging has a P/E ratio of 33.43, based on the last twelve months. … Price to Earnings Ratio = Share Price ÷ Earnings per Share (EPS)
Simply Wall St - – Full articleCalculating The Intrinsic Value Of Varex Imaging Corporation (NASDAQ:VREX)
I am going to run you through how I calculated the intrinsic value of Varex Imaging Corporation (NASDAQ:VREX). … by taking the expected future cash flows and discounting them to today's value. … Anyone interested in learning a bit more about intrinsic value should have a read of the Simply Wall St analysis model
Simply Wall St - – Full articleWhat Investors Should Know About Varex Imaging Corporation's (NASDAQ:VREX) Financial Strength
While small-cap stocks, such as Varex Imaging Corporation (NASDAQ:VREX) with its market cap of US$918m, are popular for their explosive growth, investors should also be aware of their balance sheet to judge whether the company can survive a downturn.
Simply Wall St - – Full articleWhat Are Analysts Saying About The Future Of Varex Imaging Corporation's (NASDAQ:VREX)?
The latest earnings update Varex Imaging Corporation (NASDAQ:VREX) released in September 2018a
Simply Wall St - – Full articleVREX Company Info
Description
Varex Imaging Corporation designs and manufactures X-ray imaging components. The company operates in two segments, Medical and Industrial. The Medical segment designs, manufactures, sells, and services X-ray imaging components comprising X-ray tubes, digital detectors, high voltage connectors, image-processing software and workstations, computer-aided diagnostic software, collimators, automatic exposure control devices, generators, ionization chambers, and buckys. This segment's products are used in a range of applications, including radiographic and fluoroscopic imaging, mammography, computed tomography, radiation therapy, oncology, cardiac, surgery, dental, and computer-aided detection. The Industrial segment designs, manufactures, sells, and services Linatron X-ray accelerators, X-ray tubes, digital detectors, high voltage connectors, and image-processing software for use in security and industrial inspection applications, such as airport security, cargo screening at ports and borders, and nondestructive examination in various applications. Varex Imaging Corporation sells its products through imaging system original equipment manufacturers, independent service companies, and distributors, as well as directly to end-users. The company has operations in North America, Latin America, Europe, Russia, the Middle East, India, Africa, Asia, and Australia. Varex Imaging Corporation is headquartered in Salt Lake City, Utah.
Details
| Name: | Varex Imaging Corporation |
| VREX | |
| Exchange: | NasdaqGS |
| Founded: | |
| $1,067,038,000 | |
| 38,300,000 | |
| Website: | http://www.vareximaging.com |
| Address: |
Varex Imaging Corporation 1678 South Pioneer Road, Salt Lake City, Utah, 84104, United States |
Listings
| Exchange Symbol | Ticker Symbol | Security | Exchange | Country | Currency | Listed on | |
|---|---|---|---|---|---|---|---|
| NasdaqGS | VREX | Common Share | Nasdaq Global Select | US | USD | 30. Jan 2017 | |
| DB | VI4 | Common Share | Deutsche Boerse AG | DE | EUR | 30. Jan 2017 |
Number of employees
Current staff
Industry
| Health Care Equipment | |
| Healthcare |
Company Analysis and Financial Data Status
| Area | Date (UTC time) |
|---|---|
| Company Analysis updated: | 2019/05/23 06:38 |
| End of day share price update: | 2019/05/22 00:00 |
| Last estimates confirmation: | 2019/05/15 |
| Last earnings filing: | 2019/05/08 |
| Last earnings reported: | 2019/03/29 |
| Last annual earnings reported: | 2018/09/28 |
All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.
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 here.
