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Varex ImagingVREX +0.66%69 EV-to-FCF is -24.32 as of Jul. 21, 2026. GuruFocus rates VREX with a GF Score™ of 69/100 and a GF Value™ of $14.01 (Modestly Undervalued). The stock has 3 warning signs investors should review. Among 414 Medical Devices & Instruments companies, Varex Imaging ranks worse than 241545.65% on this metric.
EV-to-FCF is calculated as enterprise value divided by its free cash flow. As of today, Varex Imaging's Enterprise Value is $748.9 Mil.
Varex Imaging's Free Cash Flow for the trailing twelve months (TTM) ended in Mar. 2026 was $-30.8 Mil. Therefore, Varex Imaging's EV-to-FCF for today is -24.32.
The historical rank and industry rank for Varex Imaging's EV-to-FCF or its related term are showing as below:
VREX'
s EV-to-FCF Range Over the Past 10 Years
Min: -289.27 Med: 22.21 Max: 115.84
Current: -24.32
During the past 13 years, the highest EV-to-FCF of Varex Imaging was 115.84. The lowest was -289.27. And the median was 22.21.
VREX's EV-to-FCF is ranked worse than 100% of 414
companies
in the Medical Devices & Instruments industry
Industry Median: 23.21
vs VREX: -24.32
EV-to-FCF is a valuation multiple that allows analysts and investors to compare stocks, preferably in the same sector or industry. This important multiple is often used in conjunction with, or as an alternative to, the PE Ratio (TTM) to determine the fair market value of a company.
EV-to-FCF is a valuation multiple that allows analysts and investors to compare stocks, preferably in the same sector or industry. This important multiple is often used in conjunction with, or as an alternative to, the PE Ratio (TTM) to determine the fair market value of a company.
Varex Imaging's PE Ratio (TTM) for today is calculated as:
Varex Imaging's share price for today is $10.63.
Varex Imaging's Earnings per Share (Diluted) for the trailing twelve months (TTM) ended in Mar. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was $-2.000.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Enterprise Value is used because it is a more complete measure in reflecting how much an investor pays when buying a company. Free Cash Flow is an important financial metric because it represents the actual amount of cash at a company's disposal. Companies with a low EV-to-FCF ratio, combined with a strong balance sheet are generally considered as undervalued.
Varex Imaging EV-to-FCF Related Terms
Varex Imaging EV-to-FCF Historical Data
* Premium members only.
The historical data trend for Varex Imaging's EV-to-FCF can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
For the Medical Devices subindustry, Varex Imaging's EV-to-FCF, along with its competitors' market caps and EV-to-FCF data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Varex Imaging EV-to-FCF vs Medical Devices & Instruments Industry
For the Medical Devices & Instruments industry and Healthcare sector, Varex Imaging's EV-to-FCF distribution charts can be found below:
* The bar in red indicates where Varex Imaging's EV-to-FCF falls into.
Varex Imaging's current Enterprise Value is $748.9 Mil.
Varex Imaging's Free Cash Flow for the trailing twelve months (TTM) ended in Mar. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was $-30.8 Mil.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Varex Imaging (VREX) has a EV-to-FCF of -24.32 as of Jul. 21, 2026. EV to FCF ratio is the company's enterprise value divided by free cash flow. View historical data on Varex Imaging and its competitors. According to the industry distribution chart, Varex Imaging ranks #999999 out of 414 companies in the Medical Devices & Instruments industry.
Is Varex Imaging's EV-to-FCF too high?
Varex Imaging's current EV-to-FCF is -24.32. Based on the distribution chart, Varex Imaging ranks #999999 out of 414 companies in the Medical Devices & Instruments industry, which is in the bottom quartile relative to peers. Overall, Varex Imaging has a GF Score™ of 69/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Varex Imaging's EV-to-FCF compare to VMD and DCTH?
According to the Medical Devices & Instruments industry distribution chart, Varex Imaging ranks #999999 out of 414 companies for EV-to-FCF. This places Varex Imaging in the lower half of its industry. The industry median EV-to-FCF is 23.21. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good EV-to-FCF for a Medical Devices & Instruments company?
The median EV-to-FCF among Medical Devices & Instruments companies is 23.21, based on 414 companies in the industry. Companies in the top quartile (top 25%) have a EV-to-FCF significantly above this median, while those in the bottom quartile fall well below. However, EV-to-FCF should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high EV-to-FCF mean?
A high EV-to-FCF can signal that a stock is expensive relative to its fundamentals. EV to FCF ratio is the company's enterprise value divided by free cash flow. View historical data on Varex Imaging and its competitors. For the Medical Devices & Instruments industry, the median EV-to-FCF is 23.21 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Varex Imaging's current EV-to-FCF is -24.32. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Varex Imaging stock overvalued right now?
Based on GuruFocus' analysis, Varex Imaging (VREX) is currently considered Modestly Undervalued. The stock's GF Value™ is $14.01, compared to a current price of $10.63 — trading 24.1% below its estimated fair value. The current EV-to-FCF is -24.32. Varex Imaging's overall GF Score™ is 69/100 with 3 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is EV-to-FCF calculated?
EV-to-FCF is calculated from a company's financial statements. For Varex Imaging (VREX), the current EV-to-FCF is -24.32 as of Jul. 21, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Varex Imaging (VREX) Overvalued in 2026?
Based on GuruFocus' analysis, Varex Imaging stock appears to be undervalued.
The current stock price of $10.63 is trading 24.1% below its estimated GF Value™ of $14.01.
GuruFocus considers Varex Imaging to be Modestly Undervalued.
Key valuation signals for VREX:
EV-to-FCF: -24.32
GF Value™: $14.01 vs. price of $10.63 (24.1% below fair value)
No single metric tells the full story. See the VREX stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Varex Imaging Corp Designs, manufactures, sells, and services X-ray imaging components, including X-ray tubes, detectors, ionization chambers, high-voltage connectors, software, collimators, generators, exposure control devices, and heat exchangers.. The company operates through two segments: Medical, the key revenue driver, providing X-ray imaging components and accessories for healthcare applications, and Industrial, which provides Linatron X-ray accelerators, X-ray tubes, flat panel detectors, high-voltage connectors, and coolers for non-medical use. Geographically, it generates the majority of its revenue from Europe, the Middle East, and Africa (EMEA), with the rest coming from the Americas and Asia Pacific.
69GF Score
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