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Varex Imaging Valuation Multiples

Discover revenue and EBITDA valuation multiples for Varex Imaging and similar public comparables like Perspective Therapeutics, InfuSystem, and Myomo.

Varex Imaging Overview

About Varex Imaging

Varex Imaging Corp designs and manufactures X-ray imaging components. It operates in two segments Medical and Industrial. The Medical segment, which is the key revenue driver, designs, manufactures, sells, and services X-ray imaging components, including X-ray tubes, digital detectors and accessories, generators, and heat exchangers among other products. The Industrial segment designs, manufactures, sells, and services Linatron X-ray accelerators, X-ray tubes, digital flat panel detectors, high-voltage connectors, and coolers. Geographically, the company generates maximum revenue from Europe, Middle East, and Africa (EMEA) and the rest from the Americas and Asia Pacific region.


Founded

2016

HQ

United States of America
Employees

2.3K+

Financials

LTM Revenue $820M

LTM EBITDA $97.3M

EV

$705M

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Varex Imaging Financials

Varex Imaging has a last 12-month revenue of $820M and a last 12-month EBITDA of $97.3M.

In the most recent fiscal year, Varex Imaging achieved revenue of $811M and an EBITDA of $62.9M.

Varex Imaging expects next 12-month revenue of  XXX    and NTM EBITDA of  XXX

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Varex Imaging P&L

FY 2023 FY 2024 FY 2025 LTM NTM
Revenue $893M $811M XXX XXX XXX
Gross Profit $284M $290M XXX XXX XXX
Gross Margin 32% 36% XXX XXX XXX
EBITDA $91.2M $62.9M XXX XXX XXX
EBITDA Margin 10% 8% XXX XXX XXX
Net Profit $30.3M $48.2M XXX XXX XXX
Net Margin 3% 6% XXX XXX XXX
Net Debt $325M $290M XXX XXX XXX

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Varex Imaging Stock Performance

As of April 15, 2025, Varex Imaging's stock price is $8.

Varex Imaging has current market cap of $325M, and EV of $705M.

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Varex Imaging Stock Data

EV Market Cap Price 1D Price 1M Price 3M Price 12M EPS
$705M $325M XXX XXX XXX XXX $0.56

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Varex Imaging Valuation Multiples

As of April 15, 2025, Varex Imaging has market cap of $325M and EV of $705M.

Varex Imaging's trades at 0.9x LTM EV/Revenue multiple, and 7.2x LTM EBITDA.

Analysts estimate Varex Imaging's 2025E EV/Revenue multiple at  XXX and 2025E EV/EBITDA multiple at  XXX

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Varex Imaging Financial Valuation Multiples

FY 2024 FY 2025E FY 2026E FY 2027E
EV $705M XXX XXX XXX
EV/Revenue 0.9x XXX XXX XXX
EV/EBITDA 9.6x XXX XXX XXX
P/E -9.8x XXX XXX XXX
P/E/Growth n/a XXX XXX XXX
EV/FCF n/a XXX XXX XXX

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Varex Imaging Valuation Multiples

Varex Imaging's NTM/LTM revenue growth is 3%

Varex Imaging's revenue per employee for the last fiscal year averaged $0.4M, while opex per employee averaged $0.1M for the same period.

Over next 12 months, Varex Imaging's ratio of sales and marketing spend to revenue is estimated to be  XXX , while its R&D spend to revenue to be  XXX .

Analysts estimate Varex Imaging's 2025E EV/Revenue multiple at  XXX and 2025E EV/EBITDA multiple at  XXX

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Varex Imaging Operational Valuation Multiples

FY 2024 NTM FY 2025E FY 2026E FY 2027E
Revenue Growth -9% XXX XXX XXX XXX
EBITDA Margin 9% XXX XXX XXX XXX
EBITDA Growth -31% XXX XXX XXX XXX
Rule of 40 (SaaS-only) 12% XXX XXX XXX XXX
Revenue per Employee $0.4M XXX XXX XXX XXX
Opex per Employee $0.1M XXX XXX XXX XXX
S&M Expenses to Revenue n/a XXX XXX XXX XXX
G&A Expenses to Revenue n/a XXX XXX XXX XXX
R&D Expenses to Revenue 11% XXX XXX XXX XXX
Opex to Revenue 28% XXX XXX XXX XXX

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Varex Imaging Public Comps

See public comps and valuation multiples for Medical Devices comps
EV/Revenue EV/EBITDA
2025E 2026E 2027E 2025E 2026E 2027E
Philips XXX XXX XXX XXX XXX XXX
Perspective Therapeutics XXX XXX XXX XXX XXX XXX
SmartVest XXX XXX XXX XXX XXX XXX
InfuSystem XXX XXX XXX XXX XXX XXX
Myomo XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX

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Varex Imaging M&A and Investment Activity

Varex Imaging acquired  XXX companies to date.

Last acquisition by Varex Imaging was  XXXXXXXX, XXXXX XXXXX XXXXXX . Varex Imaging acquired  XXXXXXXX for  XXX (EV/Revenue multiple of  XXX ).

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Latest Acquisitions by Varex Imaging

Acquired Company EV EV/Revenue EV/EBITDA
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX

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About Varex Imaging

When was Varex Imaging founded? Varex Imaging was founded in 2016.
Where is Varex Imaging headquartered? Varex Imaging is headquartered in United States of America.
How many employees does Varex Imaging have? As of today, Varex Imaging has 2.3K+ employees.
Who is the CEO of Varex Imaging? Varex Imaging's CEO is Mr. Sunny S. Sanyal.
Is Varex Imaging publicy listed? Yes, Varex Imaging is a public company listed on NAS.
What is the stock symbol of Varex Imaging? Varex Imaging trades under VREX ticker.
When did Varex Imaging go public? Varex Imaging went public in 2017.
Who are competitors of Varex Imaging? Similar companies to Varex Imaging include e.g. Philips, Perspective Therapeutics, SmartVest, InfuSystem.
What is the current market cap of Varex Imaging? Varex Imaging's current market cap is $325M
What is the current revenue of Varex Imaging? Varex Imaging's last 12-month revenue is $820M.
What is the current EBITDA of Varex Imaging? Varex Imaging's last 12-month EBITDA is $97.3M.
What is the current EV/Revenue multiple of Varex Imaging? Current revenue multiple of Varex Imaging is 0.9x.
What is the current EV/EBITDA multiple of Varex Imaging? Current EBITDA multiple of Varex Imaging is 7.2x.
What is the current revenue growth of Varex Imaging? Varex Imaging revenue growth between 2023 and 2024 was -9%.
Is Varex Imaging profitable? Yes, Varex Imaging is EBITDA-positive (as of the last 12 months).

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