What is Varex Imaging Corp worth?
With the base-case assumptions below, a discounted cash flow model on Varex Imaging Corp's reported free cash flow gives $1.17 per share. The share price was $18.45 on September 25, 2026, 1,473% above that value.
Inputs from the filings
Three sets of assumptions
| Case | Growth yrs 1-5 | Discount rate | Value per share | Value vs price |
|---|---|---|---|---|
| Bear | -2.5% | 10.0% | -$1.54 | -108% |
| Base | 2.5% | 9.0% | $1.17 | -94% |
| Bull | 7.5% | 8.0% | $6.45 | -65% |
Sensitivity: base case value per share
| 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | |
|---|---|---|---|---|---|
| 7.0% | $3.08 | $3.65 | $4.36 | $5.23 | $6.36 |
| 8.0% | $1.66 | $2.03 | $2.47 | $3.00 | $3.65 |
| 9.0% | $0.62 | $0.88 | $1.17 | $1.52 | $1.92 |
| 10.0% | -$0.17 | $0.01 | $0.22 | $0.45 | $0.72 |
| 11.0% | -$0.79 | -$0.66 | -$0.51 | -$0.34 | -$0.16 |
Where the presets come from
Base: years 1 to 5 grow at Varex Imaging Corp's revenue growth rate over the last 5 fiscal years (2.7% a year), held between -5% and 15%. Years 6 to 10 grow halfway between that and the long-run rate of 2.5%. Future cash is discounted at 9% a year.
Bear: 5 points less growth, 2% long-run growth, 10% discount rate. Bull: 5 points more growth (at most 25%), 3% long-run growth, 8% discount rate.
Value per share = (present value of 10 years of free cash flow + present value of everything after + cash - debt) / diluted shares.
This is a model run on assumptions, not a recommendation or a price target. Small changes in the discount rate or growth move the result a lot, as the table above shows. Change them yourself in the calculator.
Adjust the assumptions
Move the sliders for growth, long-run growth and discount rate, or switch to average free cash flow, and see the value per share change.
Adjust the assumptions