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Varex ImagingVREX +1.08%69 Forward PE Ratio is 10.18 as of Aug. 01, 2026. GuruFocus rates VREX with a GF Score™ of 69/100 and a GF Value™ of $14.02 (Modestly Undervalued). The stock has 3 warning signs investors should review. Among 390 Medical Devices & Instruments companies, Varex Imaging ranks better than 83.08% on this metric.
Varex Imaging's Forward PE Ratio for today is 10.18.
Varex Imaging (NAS:VREX) Forward PE Ratio Explanation
The Forward PE Ratio of a company is often used to compare current earnings to estimated future earnings, as well as gaining a clearer picture of what earnings will look like without charges and other accounting adjustments. If earnings are expected to grow in the future, the Forward PE Ratio will be lower than the current PE Ratio. This measure is also used to compare one company to another with a forward-looking focus.
Trailing PE Ratio relies on what is already done. It uses the current share price and divides by the total EPS (Basic) over the past 12 months. PE Ratio can be affected by Non Operating Income such as the sale of part of businesses. This may increase for the current year or quarter dramatically. But it cannot be repeated over and over. Therefore PE Ratio without NRI is a more accurate indication of valuation than PE Ratio .
Varex Imaging Forward PE Ratio Related Terms
Varex Imaging Forward PE Ratio Historical Data
* Premium members only.
The historical data trend for Varex Imaging's Forward PE Ratio 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.
Varex Imaging Forward PE Ratio Chart
Varex Imaging Annual Data
Trend
2020-09
2021-09
2022-09
2023-09
2024-09
2025-09
Forward PE Ratio
38.91
51.55
17.76
18.80
35.09
12.37
Varex Imaging Quarterly Data
2019-12
2020-03
2020-06
2020-09
2020-12
2021-09
2021-12
2022-03
2022-06
2022-09
2022-12
2023-03
2023-06
2023-09
2023-12
2024-03
2024-06
2024-09
2024-12
2025-03
2025-06
2025-09
2025-12
2026-03
Forward PE Ratio
121.95
54.05
71.94
38.91
46.08
51.55
36.63
27.17
16.34
17.76
27.62
39.53
25.91
18.80
21.37
22.62
44.64
35.09
25.12
20.00
11.52
12.37
13.76
11.98
VREX vs OFIX, VMD, KIDS: Forward PE Ratio Comparison
For the Medical Devices subindustry, Varex Imaging's Forward PE Ratio, along with its competitors' market caps and Forward PE Ratio 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 Forward PE Ratio vs Medical Devices & Instruments Industry
For the Medical Devices & Instruments industry and Healthcare sector, Varex Imaging's Forward PE Ratio distribution charts can be found below:
* The bar in red indicates where Varex Imaging's Forward PE Ratio falls into.
It's a measure of the price-to-earnings ratio (PE Ratio) using forecasted earnings for the calculation. While the earnings used are just an estimate and are not as reliable as current earnings data, there is still benefit in estimated P/E analysis. The forecasted earnings used in the formula can either be for the next 12 months or for the next full-year fiscal period.
Varex Imaging (VREX) has a Forward PE Ratio of 10.18 as of Aug. 01, 2026. Forward P/E ratio is the share price dividend by the expected per-share earnings in the next 12 months. View historical data on Varex Imaging and its competitors. According to the industry distribution chart, Varex Imaging ranks #66 out of 390 companies in the Medical Devices & Instruments industry, placing it in the top 16.9%.
Is Varex Imaging's Forward PE Ratio too high?
Varex Imaging's current Forward PE Ratio is 10.18. The Medical Devices & Instruments industry median Forward PE Ratio is 19.45. Varex Imaging's value of 10.18 is 47.7% below this industry median. Based on the distribution chart, Varex Imaging ranks #66 out of 390 companies in the Medical Devices & Instruments industry, which is in the top quartile — a strong position 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 Forward PE Ratio compare to OFIX and VMD?
According to the Medical Devices & Instruments industry distribution chart, Varex Imaging ranks #66 out of 390 companies for Forward PE Ratio. This places Varex Imaging in the top 17% of its industry — outperforming the majority of peers. The industry median Forward PE Ratio is 19.45. Varex Imaging's value of 10.18 is 47.7% below this benchmark. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Forward PE Ratio for a Medical Devices & Instruments company?
The median Forward PE Ratio among Medical Devices & Instruments companies is 19.45, based on 390 companies in the industry. Companies in the top quartile (top 25%) have a Forward PE Ratio significantly above this median, while those in the bottom quartile fall well below. However, Forward PE Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Varex Imaging's current Forward PE Ratio of 10.18 is 47.7% below the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Forward PE Ratio mean?
A high Forward PE Ratio can signal that a stock is expensive relative to its fundamentals. Forward P/E ratio is the share price dividend by the expected per-share earnings in the next 12 months. View historical data on Varex Imaging and its competitors. For the Medical Devices & Instruments industry, the median Forward PE Ratio is 19.45 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Varex Imaging's current Forward PE Ratio is 10.18. 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 $14.02, compared to a current price of $11.19 — trading 20.2% below its estimated fair value. The current Forward PE Ratio is 10.18 and 47.7% below the Medical Devices & Instruments industry median of 19.45. 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 Forward PE Ratio calculated?
Forward PE Ratio is calculated from a company's financial statements. For Varex Imaging (VREX), the current Forward PE Ratio is 10.18 as of Aug. 01, 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 $11.19 is trading 20.2% below its estimated GF Value™ of $14.02.
GuruFocus considers Varex Imaging to be Modestly Undervalued.
Key valuation signals for VREX:
Forward PE Ratio: 10.18
GF Value™: $14.02 vs. price of $11.19 (20.2% below fair value)
Industry Position: 47.7% below the Medical Devices & Instruments median (#66 of 390)
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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