Varex Imaging Corp (VREX) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Varex Imaging Corp stock $3.96, price $18.44, that is 78.5% below the price, quality 50 out of 100. Rating: strongly overvalued. Calculated from audited financials with 7 of our 26 valuation models and 37 quality factors, updated daily.
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Varex Imaging Corp
VREX · USOur calculation puts a fair price 79% below what the stock costs today.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 5, 2026.
How to read this chart
60‑month range $6.88 – $32.41 · fair‑value band $2.19 – $5.93 · the $18.44 price screens above the $3.96 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 1 fiscal year is left out: there the valuation rested on only a fraction of the usual models. As of Nov 5, 2026.
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Company profile
Varex Imaging Corporation designs, manufactures, and sells X-ray imaging components. It operates through two segments, Medical and Industrial.
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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, non-intrusive cargo inspection systems, 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.
It 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, the Middle East, India, Africa, Asia, and Australia.
The company was incorporated in 2016 and is headquartered in Salt Lake City, Utah.
Stock analysis
Varex Imaging Corp (VREX) currently trades at $18.44, while our model-based Fair Value estimate is $3.96, 79% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Growth DCF group reads highest at a median of $5.02 per share, and 0 of the 6 models we run sit above the $18.44 price.
Bear case: the DCF Models group reads lowest at $3.96, and 6 of the 6 models stay below the price. Data coverage for this calculation is medium.
Scenario range: $2.19 (bear) to $5.93 (bull), the price of $18.44 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 50/100 (solid quality), in the Healthcare sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Varex Imaging Corp reported revenue of $845M in FY2025 versus $818M in FY2021, a compound +0.8%/yr. Reported net income was −$70.3M in FY2025.
Key figures
Market cap $786M Small · P/E ratio 34.8 · P/S ratio 0.91 · EPS (TTM) $0.5300 · Net margin 2.6% · Return on equity 4.6% · Return on assets (EBIT) 4.0% (5-year average) · Operating margin 10.8%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 31 out of 100 (low confidence).
What moves the price
The share trades about 1% below its 52-week high and 98% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Healthcare peers we cover trades at −15% fair-value upside, at −79%, VREX screens richer than that median.
Fair Value models
All 7 models by family
Quality Score breakdown
It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.
Insider trades
In the last 6 months, 2 officers or directors sold shares worth $2.5M and none bought.
- SaleJay K. KunkelDirector2× since Mar 20, 2026: 12,631 shares, avg. $15.86$200,317Sep 14, 2026
- SaleShubham MaheshwariChief Financial Officer130,000 shares at $18.46$2.4MSep 11, 2026
Plus 2 other filings such as grants, option exercises or tax withholding. They are not market purchases or sales.
Sales are often planned (taxes, diversification, 10b5-1 plans). Purchases with their own money are seen as the stronger sign. For information only: not part of the quality score or Fair Value.
Source: SEC Form 4, as of Nov 6, 2026. All filings at the SEC ↗
Revenue & earnings trend
Growth Forecast
VREX screens overvalued: fair value 79% below the price. Compare with Abbott Laboratories, →
Compare Varex Imaging Corp with another stock
Price, fair value, quality and upside side by side.
Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Medical Devices · 320 stocks
Valuation Multiplesvs Medical Devices median · lower = cheaper
Strength profile in five axes (Snowflake)
VALUE 0: the price sits above our fair-value range.
Context: sector, industry, market
- Is the Health Care sector expensive or cheap?
- P/E, EV/EBITDA and margins by industry (reference tables)
- Return on assets by industry
- Fair value gap by industry
- Stock screener with 62 metrics
- Undervalued stocks: US Stocks
- Valuation of the USA market
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Medical Devices stocks, each showing price versus our Fair Value estimate.
| Stock | Price | Fair Value | vs Fair Value | Compare |
|---|---|---|---|---|
| Stryker Corporation SYK | $325.87 | $358.46 | +10% | vs VREX |
| Boston Scientific Corporation BSX | $42.75 | $47.03 | +10% | vs VREX |
| DexCom, Inc DXCM | $79.41 | $87.35 | +10% | vs VREX |
| Shenzhen Mindray Bio-Medical Electronics Co 300760 | ¥184.15 | ¥197.22 | +7% | vs VREX |
| GE HealthCare Technologies Inc GEHC | $82.38 | $69.92 | −15% | vs VREX |
| Edwards Lifesciences Corporation EW | $102.14 | $81.94 | −20% | vs VREX |
| Siemens Healthineers AG SHL | €44.66 | €34.95 | −22% | vs VREX |
| Abbott Laboratories, ABT | $109.93 | $75.28 | −32% | vs VREX |
| Medtronic plc MDT | $101.80 | $65.61 | −36% | vs VREX |
| Koninklijke Philips N.V PHIA | €27.33 | €15.23 | −44% | vs VREX |
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