VREX (VREX) financial statements
VREX reported revenue of $845M in fiscal 2025, up 3.5% a year over 9 years.
Net income was -$70M and the operating margin -3.3%, against 17.6% in 2016.
Free cash flow was $19M.
The diluted share count rose 10% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from VREX's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $620M | $698M | $773M | $781M | $738M | $818M | $859M | $893M | $811M | $845M |
| Cost of revenue | $372M | $445M | $520M | $524M | $548M | $547M | $576M | $603M | $554M | $554M |
| Gross profit | $248M | $254M | $254M | $257M | $190M | $272M | $284M | $290M | $257M | $290M |
| Research and development | $54M | $67M | $83M | $78M | $79M | $72M | $77M | $85M | $87M | $91M |
| Selling, general and admin | $86M | $102M | $123M | $128M | $142M | $126M | $118M | $128M | $138M | $133M |
| Operating income | $109M | $84M | $44M | $46M | -$34M | $74M | $88M | $77M | $32M | -$28M |
| Interest expense | $2M | $12M | $22M | $21M | $31M | $42M | $40M | $29M | $30M | $36M |
| Pre-tax income | $105M | $75M | $26M | $22M | -$73M | $29M | $44M | $31M | $5M | -$59M |
| Income tax | $36M | $23M | -$3M | $6M | -$15M | $11M | $14M | -$17M | $53M | $11M |
| Net income | $68M | $52M | $28M | $16M | -$58M | $17M | $30M | $47M | -$49M | -$70M |
| EPS (diluted) | $1.82 | $1.36 | $0.72 | $0.40 | -$1.49 | $0.43 | $0.73 | $1.07 | -$1.20 | -$1.70 |
| Diluted shares | 38M | 38M | 38M | 39M | 39M | 40M | 42M | 50M | 41M | 41M |
| Gross margin | 40.1% | 36.3% | 32.8% | 32.9% | 25.8% | 33.2% | 33.0% | 32.5% | 31.7% | 34.4% |
| Operating margin | 17.6% | 12.0% | 5.8% | 5.9% | -4.6% | 9.1% | 10.3% | 8.6% | 4.0% | -3.3% |
| Net margin | 11.0% | 7.4% | 3.6% | 2.0% | -7.8% | 2.1% | 3.5% | 5.3% | -6.0% | -8.3% |
Balance sheet
Fiscal years, from VREX's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $36M | $83M | $52M | $30M | $101M | $145M | $89M | $194M | $200M | $155M |
| Receivables | $122M | $164M | $154M | $141M | $124M | $155M | $173M | $164M | $158M | $157M |
| Inventory | $197M | $234M | $235M | $248M | $272M | $225M | $303M | $278M | $265M | $299M |
| Total current assets | $360M | $495M | $458M | $438M | $522M | $554M | $610M | $658M | $650M | $642M |
| Property, plant and equipment | $109M | $148M | $145M | $142M | $145M | $140M | $141M | $144M | $153M | $158M |
| Goodwill | $75M | $242M | $244M | $291M | $293M | $292M | $284M | $288M | $291M | $198M |
| Total assets | $622M | $1.0B | $988M | $1.0B | $1.1B | $1.1B | $1.2B | $1.2B | $1.2B | $1.1B |
| Total current liabilities | $78M | $152M | $152M | $175M | $161M | $167M | $173M | $163M | $196M | $187M |
| Long-term debt | $0 | $464M | $365M | $364M | $453M | $432M | $412M | $441M | $397M | $366M |
| Total liabilities | $86M | $650M | $548M | $580M | $674M | $651M | $638M | $669M | $670M | $621M |
| Shareholders' equity | $526M | $379M | $426M | $445M | $452M | $483M | $533M | $568M | $529M | $473M |
| Net debt | -$36M | $401M | $338M | $365M | $355M | $290M | $325M | $290M | $275M | $222M |
Cash flow
Fiscal years, from VREX's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $74M | $75M | $85M | $72M | $13M | $93M | $17M | $108M | $47M | $42M |
| Capital spending | $29M | $20M | $20M | $20M | $24M | $15M | $21M | $21M | $27M | $23M |
| Free cash flow | $45M | $55M | $65M | $52M | -$10M | $78M | -$4M | $88M | $20M | $19M |
| Stock-based compensation | $10M | $8M | $10M | $12M | $13M | $14M | $14M | $14M | $15M | $15M |
| Free cash flow margin | 7.3% | 7.9% | 8.4% | 6.7% | -1.4% | 9.5% | -0.5% | 9.8% | 2.5% | 2.2% |
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Open VREX in InvestinglyQuestions
What was VREX's revenue in 2025?
$845M in fiscal 2025, from its 10-K filing.
How much free cash flow does VREX generate?
$19M in fiscal 2025 (operating cash flow minus capital spending).
From VREX's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.