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Upturn AI SWOT - About
VREX 
Varex Imaging Corp (VREX)
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Upturn Advisory Summary
08/14/2025: VREX (1-star) has a low Upturn Star Rating. Not recommended to BUY.
Upturn Star Rating
Not Recommended Performance
These Stocks/ETFs, based on Upturn Advisory, consistently fall short of market performance, signaling caution before investing.
Number of Analysts
5 Analysts rated it
Limited analyst coverage, niche firm, research info may be scarce.
1 Year Target Price $17.4
1 Year Target Price $17.4
| 3 | Strong Buy |
| 1 | Buy |
| 1 | Hold |
| 0 | Sell |
| 0 | Strong Sell |
Analysis of Past Performance
Type Stock | Historic Profit 12.14% | Avg. Invested days 37 | Today’s Advisory Consider higher Upturn Star rating |
Upturn Star Rating | Upturn Advisory Performance  4.0 | Stock Returns Performance  2.0 |
| Profits based on simulation | Last Close 08/14/2025 |
Key Highlights
Company Size Small-Cap Stock | Market Capitalization 447.59M USD | Price to earnings Ratio - | 1Y Target Price 17.4 |
Price to earnings Ratio - | 1Y Target Price 17.4 | ||
Volume (30-day avg) 5 | Beta 0.68 | 52 Weeks Range 6.76 - 16.93 | Updated Date 08/15/2025 |
52 Weeks Range 6.76 - 16.93 | Updated Date 08/15/2025 | ||
Dividends yield (FY) - | Basic EPS (TTM) -3.23 |
Analyzing Revenue: Products, Geography and Growth
Revenue by Products
Product revenue - Year on Year
Revenue by Geography
Geography revenue - Year on Year
Earnings Date
Report Date 2025-08-07 | When - | Estimate 0.02 | Actual 0.18 |
Profitability
Profit Margin -16.13% | Operating Margin (TTM) -39.75% |
Management Effectiveness
Return on Assets (TTM) -1.96% | Return on Equity (TTM) -24.79% |
Valuation
Trailing PE - | Forward PE 22.47 | Enterprise Value 685793598 | Price to Sales(TTM) 0.54 |
Enterprise Value 685793598 | Price to Sales(TTM) 0.54 | ||
Enterprise Value to Revenue 0.83 | Enterprise Value to EBITDA 11.46 | Shares Outstanding 41520700 | Shares Floating 40958840 |
Shares Outstanding 41520700 | Shares Floating 40958840 | ||
Percent Insiders 1.68 | Percent Institutions 97.29 |
Upturn AI SWOT
Varex Imaging Corp
Company Overview
History and Background
Varex Imaging Corp. was founded in 2017 as a spin-off from Varian Medical Systems (now Siemens Healthineers). Varex focuses on developing and manufacturing X-ray imaging components.
Core Business Areas
- Medical: Provides X-ray tubes, digital detectors, and image processing solutions for medical imaging applications, including radiography, fluoroscopy, mammography, and computed tomography (CT).
- Industrial: Offers X-ray imaging products for non-destructive testing (NDT), security screening, and industrial inspection.
- Security: Supplies X-ray imaging systems and components for cargo screening, baggage inspection, and personnel screening applications.
Leadership and Structure
Clarence Verhoef is the CEO. The organizational structure includes functional departments like Engineering, Operations, Sales & Marketing, and Finance, reporting to the CEO. The company also operates globally with regional sales and service teams.
Top Products and Market Share
Key Offerings
- X-ray Tubes: Varex is a leading manufacturer of X-ray tubes used in medical, industrial, and security applications. They have a significant market share in the medical X-ray tube market, estimated at around 30-40%. Competitors include Dunlee (Philips), Canon Electron Tubes & Devices, and Comet Group. These tubes have been a large part of their historical revenue.
- Digital Detectors: Varex produces digital detectors for medical and industrial imaging, including flat panel detectors (FPDs). They have a strong position in the industrial detector market, estimated at around 20-30%. Competitors include Trixell (Canon), PerkinElmer, and Thales Group.
- Software and Image Processing Solutions: Varex offers software and image processing solutions to enhance image quality and workflow efficiency. Competitors include iRay Technology and Fujifilm.
Market Dynamics
Industry Overview
The X-ray imaging market is driven by increasing demand for medical diagnostics, security screening, and industrial inspection. Key trends include the adoption of digital imaging technologies, advancements in image processing algorithms, and growing demand for portable and mobile X-ray systems.
Positioning
Varex is a well-established player in the X-ray imaging component market, known for its broad product portfolio, technological expertise, and global reach. The company benefits from strong relationships with leading medical equipment manufacturers and industrial companies.
Total Addressable Market (TAM)
The global medical imaging market is projected to reach hundreds of billions of USD, while industrial and security X-ray markets are also substantial. Varex's TAM is estimated to be in the billions of USD, as it focuses on X-ray components. Varex is a major player, but not a complete system supplier, so captures a portion of that TAM.
Upturn SWOT Analysis
Strengths
- Broad product portfolio
- Strong market position in X-ray tubes and detectors
- Established relationships with leading OEMs
- Global sales and service network
- Technological expertise and innovation
Weaknesses
- Dependence on OEM sales channels
- Exposure to cyclical demand in certain markets
- Competition from larger, diversified companies
- Sensitivity to raw material price fluctuations
Opportunities
- Growing demand for digital imaging technologies
- Expansion into emerging markets
- Development of new applications for X-ray imaging
- Strategic acquisitions to expand product offerings
- Increased investment in AI-driven image processing
Threats
- Intense competition from established players and new entrants
- Technological obsolescence
- Regulatory changes and compliance requirements
- Economic downturns
- Supply chain disruptions
Competitors and Market Share
Key Competitors
- Siemens Healthineers (SEMHF.PK)
- Canon (CAJ)
- PerkinElmer (PKI)
Competitive Landscape
Varex's advantages include its specialized focus on X-ray components, broad product portfolio, and established customer relationships. Disadvantages include its smaller size compared to diversified competitors like Siemens Healthineers.
Major Acquisitions
Direct Conversion
- Year: 2017
- Acquisition Price (USD millions): 80
- Strategic Rationale: Strengthens Varexu2019s position in the medical imaging market by providing advanced digital detector technology.
Growth Trajectory and Initiatives
Historical Growth: Varex's historical growth has been driven by increasing demand for its products in medical, industrial, and security markets. Growth rates have varied depending on economic conditions and technological trends.
Future Projections: Future growth projections vary among analysts and are subject to change based on market conditions and company performance. Analyst reports offer details on expected revenue and earnings growth.
Recent Initiatives: Recent initiatives include new product development, strategic acquisitions, and expansion into new markets.
Summary
Varex Imaging is a key player in X-ray component manufacturing with strong market positions, but is susceptible to industry cyclicality. Its focus on X-ray technology provides a strategic advantage. It must innovate to maintain position amid the increased competition and adapt to technological changes. Strategic acquisitions and expanding market presence are critical for future success.
Peer Comparison
Sources and Disclaimers
Data Sources:
- Varex Imaging Corp. Investor Relations
- SEC Filings
- Industry Reports
- Third-party financial data providers
Disclaimers:
The information provided is for informational purposes only and should not be considered financial advice. Market share data is approximate and based on available industry reports and analyst estimates. Financial data is subject to change based on market conditions and company performance.
AI Summarization is directionally correct and might not be accurate.
Summarized information shown could be a few years old and not current.
Fundamental Rating based on AI could be based on old data.
AI-generated summaries may have inaccuracies (hallucinations). Please verify the information before taking action.
About Varex Imaging Corp
Exchange NASDAQ | Headquaters Salt Lake City, UT, United States | ||
IPO Launch date 2017-01-20 | President, CEO & Director Mr. Sunny S. Sanyal | ||
Sector Healthcare | Industry Medical Devices | Full time employees 2300 | Website https://www.vareximaging.com |
Full time employees 2300 | Website https://www.vareximaging.com | ||
Varex Imaging Corporation designs, manufactures, and sells X-ray imaging components. The company operates through two segments, Medical and Industrial. The Medical segment designs, manufactures, sells, and services X-ray imaging components, comprising X-ray tubes, digital detectors and accessories, ionization chambers, high voltage connectors, image-processing software and workstations, 3D reconstruction software, computer-aided diagnostic software, collimators, automatic exposure control devices, generators, and heat exchangers. This segment's products are used in a range of applications, including CT, mammography, oncology, cardiac, surgery, dental, and other diagnostic radiography uses. The Industrial segment designs, develops, manufactures, sells, and services Linatron X-ray linear accelerators, X-ray tubes, digital detectors, high voltage connectors, and coolers for use in security and inspection applications, such as baggage screening at airports, cargo screening at ports and borders, and nondestructive testing, irradiation, and inspection in various applications. The company sells its products through imaging system original equipment manufacturers, independent service companies, and distributors, as well as directly to end-users. It has operations in North America, South America, Europe, Russia, the Middle East, India, Africa, Asia, and Australia. The company was incorporated in 2016 and is headquartered in Salt Lake City, Utah.
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