NYSE:VAR (USA) Also trade in: Germany Mexico UK

Varian Medical Systems Inc

$ 131.46 0.58 (0.44%)
Volume: 175,605 Avg Vol (1m): 574,187
Market Cap $: 11.96 Bil Enterprise Value $: 11.42 Bil
P/E (TTM): 31.84 P/B: 6.97
Earnings Power Value 41.17
Net Current Asset Value 6.6
Tangible Book 14.53
Projected FCF 52.72
Median P/S Value 88.16
Graham Number 36.74
Peter Lynch Value 0
DCF (FCF Based) 0
DCF (Earnings Based) 0
1Y (-%)

Financial Strength : 9/10

GuruFocus Financial Strength Rank measures how strong a company's financial situation is . It is based on these factors
1. The debt burden that the company has as measured by its Interest coverage (current year).
2. Debt to revenue ratio. The lower, the better
3. Altman Z-score.
A company ranks high with financial strength is likely to withstand any business slowdowns and recessions.
Current vs industry vs history
Cash-to-Debt No Debt
Cash-To-Debt ranked lower than
79.51% of 205 companies
in the Medical Instruments & Supplies industry.
Industry Max: 10000, Med: 1.74, Min: 0.01
VAR: No Debt
Ranked among companies with meaningful Cash-To-Debt only.
Cash-To-Debt range over the past 10 years
Min: 0.24, Med: 3.73, Max: 10000
Current: 10000
0.24
10000
Equity-to-Asset 0.51
Equity-to-Asset ranked lower than
100.00% of 196 companies
in the Medical Instruments & Supplies industry.
Industry Max: 2.26, Med: 0.6, Min: -5.6
VAR: 0.51
Ranked among companies with meaningful Equity-to-Asset only.
Equity-to-Asset range over the past 10 years
Min: 0.32, Med: 0.52, Max: 0.6
Current: 0.51
0.32
0.6
Interest Coverage 103.02
Interest Coverage ranked lower than
86.13% of 137 companies
in the Medical Instruments & Supplies industry.
Industry Max: 21607070, Med: 63.92, Min: 0.47
VAR: 103.02
Ranked among companies with meaningful Interest Coverage only.
Interest Coverage range over the past 10 years
Min: 33.04, Med: 99.28, Max: 226.41
Current: 103.02
33.04
226.41
Piotroski F-Score 7
0
1
2
3
4
5
6
7
8
9
Altman Z-Score 6.40
DISTRESS
GREY
SAFE
Beneish M-Score -2.19
Not Manipulator
Manipulator
WACC vs ROIC %
ROIC 35.23%
WACC 7.72%

Profitability & Growth : 8/10

GuruFocus Profitability Rank ranks how profitable a company is and how likely the company's business will stay that way.
Current vs industry vs history
Operating Margin % 15.63
Operating Margin ranked higher than
71.14% of 201 companies
in the Medical Instruments & Supplies industry.
Industry Max: 239.27, Med: 4.41, Min: -219137.5
VAR: 15.63
Ranked among companies with meaningful Operating Margin only.
Operating Margin range over the past 10 years
Min: 13.5, Med: 20.12, Max: 22.67
Current: 15.63
13.5
22.67
Net Margin % 12.56
Net Margin ranked lower than
63.18% of 201 companies
in the Medical Instruments & Supplies industry.
Industry Max: 182.67, Med: 4.18, Min: -221450
VAR: 12.56
Ranked among companies with meaningful Net Margin only.
Net Margin range over the past 10 years
Min: 5.14, Med: 15.05, Max: 16.52
Current: 12.56
5.14
16.52
ROE % 23.96
ROE ranked lower than
52.02% of 198 companies
in the Medical Instruments & Supplies industry.
Industry Max: 95.67, Med: 5.43, Min: -1452.51
VAR: 23.96
Ranked among companies with meaningful ROE only.
ROE range over the past 10 years
Min: 9.66, Med: 25.96, Max: 31.67
Current: 23.96
9.66
31.67
ROA % 11.54
ROA ranked lower than
58.25% of 206 companies
in the Medical Instruments & Supplies industry.
Industry Max: 46.82, Med: 1.85, Min: -307.58
VAR: 11.54
Ranked among companies with meaningful ROA only.
ROA range over the past 10 years
Min: 4.58, Med: 12.84, Max: 16.54
Current: 11.54
4.58
16.54
ROC (Joel Greenblatt) % 80.98
ROC (Joel Greenblatt) ranked higher than
85.78% of 204 companies
in the Medical Instruments & Supplies industry.
Industry Max: 387.24, Med: 9.63, Min: -114200
VAR: 80.98
Ranked among companies with meaningful ROC (Joel Greenblatt) only.
ROC (Joel Greenblatt) range over the past 10 years
Min: 49.27, Med: 84.68, Max: 100.8
Current: 80.98
49.27
100.8
3-Year Total Revenue Growth Rate 5.40
3-Year Revenue Growth Rate ranked lower than
96.47% of 170 companies
in the Medical Instruments & Supplies industry.
Industry Max: 1424.9, Med: 4.1, Min: -100
VAR: 8.4
Ranked among companies with meaningful 3-Year Revenue Growth Rate only.
3-Year Revenue Growth Rate range over the past 10 years
Min: -27.1, Med: 10.15, Max: 17.4
Current: 8.4
-27.1
17.4
3-Year Total EBITDA Growth Rate 3.60
3-Year EBITDA Growth Rate ranked lower than
100.00% of 155 companies
in the Medical Instruments & Supplies industry.
Industry Max: 426.6, Med: 10, Min: -759
VAR: 6.6
Ranked among companies with meaningful 3-Year EBITDA Growth Rate only.
3-Year EBITDA Growth Rate range over the past 10 years
Min: -25.9, Med: 11.5, Max: 26.9
Current: 6.6
-25.9
26.9
3-Year EPS w/o NRI Growth Rate -19.50
3-Year EPS w/o NRI Growth Rate ranked lower than
100.00% of 155 companies
in the Medical Instruments & Supplies industry.
Industry Max: 253, Med: 12.9, Min: -782.7
VAR: -19.5
Ranked among companies with meaningful 3-Year EPS w/o NRI Growth Rate only.
3-Year EPS w/o NRI Growth Rate range over the past 10 years
Min: -58.5, Med: 14, Max: 113.8
Current: -19.5
-58.5
113.8

» VAR's 30-Y Financials

Financials (Next Earnings Date: 2019-07-25)

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Business Description

Industry Medical Instruments & Equipment » Medical Instruments & Supplies    NAICS : 339112    SIC : 3841
Compare NYSE:STE NAS:HOLX NAS:XRAY XSWX:STMN NYSE:TFX XSWX:SOON NYSE:COO XTER:AFX NYSE:WST OCSE:DEMANT NAS:MASI TSE:7733 TSE:7747 NYSE:RMD NYSE:HRC NZSE:FPH NYSE:HAE NAS:NVCR MIL:AMP NAS:ICUI
Traded in other countries VNM.Germany 0LNU.UK
Address 3100 Hansen Way, Palo Alto, CA, USA, 94304-1038
Varian Medical Systems designs, manufactures, and sells radiation technology for use in two business segments: oncology systems and proton therapy. The Americas account for the largest portion of revenue (51%), followed by Europe, the Middle East, and Africa (29%) and Asia-Pacific (20%).

Ratios

Current vs industry vs history
PE Ratio (TTM) 31.84
PE Ratio ranked lower than
100.00% of 125 companies
in the Medical Instruments & Supplies industry.
Industry Max: 1012.86, Med: 31.7, Min: 0.65
VAR: 31.84
Ranked among companies with meaningful PE Ratio only.
PE Ratio range over the past 10 years
Min: 10.77, Med: 18.36, Max: 126.92
Current: 31.84
10.77
126.92
Forward PE Ratio 25.19
Forward P/E ranked lower than
72.50% of 40 companies
in the Medical Instruments & Supplies industry.
Industry Max: 80, Med: 26.32, Min: 12.3
VAR: 25.19
Ranked among companies with meaningful Forward P/E only.
N/A
PE Ratio without NRI 31.84
PE without NRI ranked lower than
100.00% of 123 companies
in the Medical Instruments & Supplies industry.
Industry Max: 1012.86, Med: 9999, Min: 0.65
VAR: 31.84
Ranked among companies with meaningful PE without NRI only.
PE without NRI range over the past 10 years
Min: 9.86, Med: 18.37, Max: 111.6
Current: 31.84
9.86
111.6
Price-to-Owner-Earnings 50.02
Price-to-Owner-Earnings ranked lower than
63.86% of 83 companies
in the Medical Instruments & Supplies industry.
Industry Max: 631.1, Med: 30.92, Min: 1.32
VAR: 50.02
Ranked among companies with meaningful Price-to-Owner-Earnings only.
Price-to-Owner-Earnings range over the past 10 years
Min: 13.61, Med: 21.7, Max: 56.77
Current: 50.02
13.61
56.77
PB Ratio 6.97
PB Ratio ranked lower than
100.00% of 193 companies
in the Medical Instruments & Supplies industry.
Industry Max: 53.91, Med: 3.45, Min: 0.13
VAR: 6.97
Ranked among companies with meaningful PB Ratio only.
PB Ratio range over the past 10 years
Min: 2.73, Med: 4.49, Max: 8.55
Current: 6.97
2.73
8.55
PS Ratio 4.01
PS Ratio ranked lower than
90.10% of 192 companies
in the Medical Instruments & Supplies industry.
Industry Max: 720.69, Med: 3.48, Min: 0.08
VAR: 4.01
Ranked among companies with meaningful PS Ratio only.
PS Ratio range over the past 10 years
Min: 1.43, Med: 2.68, Max: 4.44
Current: 4.01
1.43
4.44
Price-to-Free-Cash-Flow 42.89
Price-to-Free-Cash-Flow ranked lower than
67.57% of 74 companies
in the Medical Instruments & Supplies industry.
Industry Max: 794.44, Med: 28.61, Min: 0.95
VAR: 42.89
Ranked among companies with meaningful Price-to-Free-Cash-Flow only.
Price-to-Free-Cash-Flow range over the past 10 years
Min: 12.87, Med: 20.12, Max: 46.24
Current: 42.89
12.87
46.24
Price-to-Operating-Cash-Flow 35.88
Price-to-Operating-Cash-Flow ranked lower than
78.72% of 94 companies
in the Medical Instruments & Supplies industry.
Industry Max: 807.55, Med: 21.15, Min: 0.86
VAR: 35.88
Ranked among companies with meaningful Price-to-Operating-Cash-Flow only.
Price-to-Operating-Cash-Flow range over the past 10 years
Min: 10.2, Med: 16.16, Max: 38.67
Current: 35.88
10.2
38.67
EV-to-EBIT 23.33
EV-to-EBIT ranked lower than
71.07% of 121 companies
in the Medical Instruments & Supplies industry.
Industry Max: 126.36, Med: 23.93, Min: 0.21
VAR: 23.33
Ranked among companies with meaningful EV-to-EBIT only.
EV-to-EBIT range over the past 10 years
Min: 6.1, Med: 12.1, Max: 30.9
Current: 23.33
6.1
30.9
EV-to-EBITDA 20.29
EV-to-EBITDA ranked lower than
78.99% of 138 companies
in the Medical Instruments & Supplies industry.
Industry Max: 614.98, Med: 19.49, Min: 0.2
VAR: 20.29
Ranked among companies with meaningful EV-to-EBITDA only.
EV-to-EBITDA range over the past 10 years
Min: 5.6, Med: 11, Max: 24.8
Current: 20.29
5.6
24.8
EV-to-Revenue 3.78
EV-to-Revenue ranked lower than
83.42% of 199 companies
in the Medical Instruments & Supplies industry.
Industry Max: 4881, Med: 3.57, Min: 0.12
VAR: 3.78
Ranked among companies with meaningful EV-to-Revenue only.
EV-to-Revenue range over the past 10 years
Min: 1.3, Med: 2.5, Max: 4.2
Current: 3.78
1.3
4.2
Shiller PE Ratio 35.80
Shiller PE Ratio ranked higher than
59.26% of 54 companies
in the Medical Instruments & Supplies industry.
Industry Max: 600, Med: 50.97, Min: 0.42
VAR: 35.8
Ranked among companies with meaningful Shiller PE Ratio only.
Shiller PE Ratio range over the past 10 years
Min: 19.04, Med: 25.9, Max: 39.31
Current: 35.8
19.04
39.31
Current Ratio 1.71
Current Ratio ranked lower than
100.00% of 200 companies
in the Medical Instruments & Supplies industry.
Industry Max: 30.7, Med: 2.57, Min: 0.1
VAR: 1.71
Ranked among companies with meaningful Current Ratio only.
Current Ratio range over the past 10 years
Min: 1.38, Med: 1.8, Max: 2.33
Current: 1.71
1.38
2.33
Quick Ratio 1.35
Quick Ratio ranked lower than
100.00% of 201 companies
in the Medical Instruments & Supplies industry.
Industry Max: 30.69, Med: 1.87, Min: -1.52
VAR: 1.35
Ranked among companies with meaningful Quick Ratio only.
Quick Ratio range over the past 10 years
Min: 1.04, Med: 1.43, Max: 1.87
Current: 1.35
1.04
1.87
Days Inventory 95.77
Days Inventory ranked lower than
55.84% of 197 companies
in the Medical Instruments & Supplies industry.
Industry Max: 876.25, Med: 124.35, Min: 0.86
VAR: 95.77
Ranked among companies with meaningful Days Inventory only.
Days Inventory range over the past 10 years
Min: 88.06, Med: 101.3, Max: 148.25
Current: 95.77
88.06
148.25
Days Sales Outstanding 123.93
Days Sales Outstanding ranked lower than
100.00% of 165 companies
in the Medical Instruments & Supplies industry.
Industry Max: 655.77, Med: 61.97, Min: 1
VAR: 123.93
Ranked among companies with meaningful Days Sales Outstanding only.
Days Sales Outstanding range over the past 10 years
Min: 86.6, Med: 93.71, Max: 133.99
Current: 123.93
86.6
133.99
Days Payable 43.67
Days Payable ranked lower than
100.00% of 151 companies
in the Medical Instruments & Supplies industry.
Industry Max: 713.41, Med: 54.66, Min: 2
VAR: 43.67
Ranked among companies with meaningful Days Payable only.
Days Payable range over the past 10 years
Min: 32.64, Med: 39.24, Max: 50.77
Current: 43.67
32.64
50.77

Dividend & Buy Back

Current vs industry vs history
3-Year Share Buyback Rate 2.40
3-Year Share Buyback Rate ranked higher than
95.10% of 143 companies
in the Medical Instruments & Supplies industry.
Industry Max: 9.1, Med: -5, Min: -273.3
VAR: 2.4
Ranked among companies with meaningful 3-Year Share Buyback Rate only.
3-Year Share Buyback Rate range over the past 10 years
Min: -4, Med: 1.8, Max: 4.4
Current: 2.4
-4
4.4

Valuation & Return

Current vs industry vs history
Price-to-Tangible-Book 9.05
Price-to-Tangible-Book ranked lower than
100.00% of 167 companies
in the Medical Instruments & Supplies industry.
Industry Max: 3100, Med: 4.77, Min: 0.22
VAR: 9.05
Ranked among companies with meaningful Price-to-Tangible-Book only.
Price-to-Tangible-Book range over the past 10 years
Min: 0.76, Med: 5.83, Max: 10.54
Current: 9.05
0.76
10.54
Price-to-Projected-FCF 2.49
Price-to-Intrinsic-Value-Projected-FCF ranked lower than
82.67% of 75 companies
in the Medical Instruments & Supplies industry.
Industry Max: 161.65, Med: 2.41, Min: 0.16
VAR: 2.49
Ranked among companies with meaningful Price-to-Intrinsic-Value-Projected-FCF only.
Price-to-Intrinsic-Value-Projected-FCF range over the past 10 years
Min: 0.85, Med: 1.44, Max: 3.92
Current: 2.49
0.85
3.92
Price-to-Median-PS-Value 1.49
Price-to-Median-PS-Value ranked lower than
100.00% of 160 companies
in the Medical Instruments & Supplies industry.
Industry Max: 4.9, Med: 1.13, Min: 0.01
VAR: 1.49
Ranked among companies with meaningful Price-to-Median-PS-Value only.
Price-to-Median-PS-Value range over the past 10 years
Min: 0.59, Med: 1.1, Max: 1.76
Current: 1.49
0.59
1.76
Price-to-Graham-Number 3.58
Price-to-Graham-Number ranked lower than
100.00% of 94 companies
in the Medical Instruments & Supplies industry.
Industry Max: 53.19, Med: 2.77, Min: 0.13
VAR: 3.58
Ranked among companies with meaningful Price-to-Graham-Number only.
Price-to-Graham-Number range over the past 10 years
Min: 0.23, Med: 2.57, Max: 6.68
Current: 3.58
0.23
6.68
Earnings Yield (Joel Greenblatt) % 4.30
Earnings Yield (Greenblatt) ranked higher than
58.94% of 207 companies
in the Medical Instruments & Supplies industry.
Industry Max: 476.19, Med: 2.4, Min: -3333.33
VAR: 4.3
Ranked among companies with meaningful Earnings Yield (Greenblatt) only.
Earnings Yield (Greenblatt) range over the past 10 years
Min: 3.2, Med: 8.2, Max: 16.4
Current: 4.3
3.2
16.4
Forward Rate of Return (Yacktman) % 0.83
Forward Rate of Return ranked lower than
91.09% of 101 companies
in the Medical Instruments & Supplies industry.
Industry Max: 28.23, Med: 8.66, Min: -123.3
VAR: 0.83
Ranked among companies with meaningful Forward Rate of Return only.
Forward Rate of Return range over the past 10 years
Min: -4.4, Med: 15.8, Max: 23.2
Current: 0.83
-4.4
23.2

More Statistics

Revenue (TTM) (Mil) $ 3,031.1
EPS (TTM) $ 4.13
Beta 0.95
Volatility % 23.65
52-Week Range $ 101.42 - 142.5
Shares Outstanding (Mil) 90.95

Analyst Estimate

Piotroski F-Score Details

Piotroski F-Score 7
Positive ROA Y
Positive CFROA Y
Higher ROA yoy Y
CFROA > ROA N
Lower Leverage yoy Y
Higher Current Ratio yoy Y
Less Shares Outstanding yoy Y
Higher Gross Margin yoy N
Higher Asset Turnover yoy Y