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Vicor vs Varex Imaging: revenue, profit, margins and growth compared

Vicor brought in $452.7M of revenue in fiscal 2025, Varex Imaging $844.6M in fiscal 2025. Revenue changed by +26.1% at Vicor and +4.1% at Varex Imaging on the year before, so Vicor grew faster. Vicor kept 26.2% of its revenue as net profit, Varex Imaging -8.3%. Free cash flow was $119.2M at Vicor and $18.8M at Varex Imaging.

Side by side, latest fiscal year

VICRVREX
Fiscal year endedFY2025 (December 31, 2025)FY2025 (October 3, 2025)
Revenue$452.7M$844.6M
Revenue growth+26.1%+4.1%
Net income$118.6M-$70.3M
Net margin26.2%-8.3%
Free cash flow$119.2M$18.8M
Free cash flow margin26.3%2.2%
Earnings per share (diluted)$2.61-$1.70
Cash$402.8M$145M
Debtn/a$367.5M
Price to earnings108.0n/a
Market value$13B$776.7M
Dividend yieldn/an/a
Rank by revenue in sector#317 of 530 · Technology#240 of 530 · Technology

Over the years

Revenue
VICR FY2018: $291.2MVICR FY2019: $263MVICR FY2020: $296.6MVICR FY2021: $359.4MVICR FY2022: $399.1MVICR FY2023: $405.1MVICR FY2024: $359.1MVICR FY2025: $452.7MVREX FY2018: $773.4MVREX FY2019: $780.6MVREX FY2020: $738.3MVREX FY2021: $818.1MVREX FY2022: $859.4MVREX FY2023: $893.4MVREX FY2024: $811MVREX FY2025: $844.6MFY18FY19FY20FY21FY22FY23FY24FY25
VICR $452.7MVREX $844.6M
Net income
VICR FY2018: $31.7MVICR FY2019: $14.1MVICR FY2020: $17.9MVICR FY2021: $56.6MVICR FY2022: $25.4MVICR FY2023: $53.6MVICR FY2024: $6.1MVICR FY2025: $118.6MVREX FY2018: $27.5MVREX FY2019: $15.5MVREX FY2020: -$57.9MVREX FY2021: $17.4MVREX FY2022: $30.3MVREX FY2023: $47.4MVREX FY2024: -$48.8MVREX FY2025: -$70.3MFY18FY19FY20FY21FY22FY23FY24FY25
VICR $118.6MVREX -$70.3M
Net margin
VICR FY2018: 10.9%VICR FY2019: 5.4%VICR FY2020: 6.0%VICR FY2021: 15.8%VICR FY2022: 6.4%VICR FY2023: 13.2%VICR FY2024: 1.7%VICR FY2025: 26.2%VREX FY2018: 3.6%VREX FY2019: 2.0%VREX FY2020: -7.8%VREX FY2021: 2.1%VREX FY2022: 3.5%VREX FY2023: 5.3%VREX FY2024: -6.0%VREX FY2025: -8.3%FY18FY19FY20FY21FY22FY23FY24FY25
VICR 26.2%VREX -8.3%
Revenue growth
VICR FY2019: -9.7%VICR FY2020: +12.8%VICR FY2021: +21.2%VICR FY2022: +11.1%VICR FY2023: +1.5%VICR FY2024: -11.4%VICR FY2025: +26.1%VREX FY2019: +0.9%VREX FY2020: -5.4%VREX FY2021: +10.8%VREX FY2022: +5.0%VREX FY2023: +4.0%VREX FY2024: -9.2%VREX FY2025: +4.1%FY19FY20FY21FY22FY23FY24FY25
VICR +26.1%VREX +4.1%
Free cash flow
VICR FY2018: $18MVICR FY2019: $9.7MVICR FY2020: $6.1MVICR FY2021: $6.7MVICR FY2022: -$41MVICR FY2023: $41.1MVICR FY2024: $27.2MVICR FY2025: $119.2MVREX FY2018: $64.9MVREX FY2019: $52.1MVREX FY2020: -$10.3MVREX FY2021: $77.5MVREX FY2022: -$4.4MVREX FY2023: $87.7MVREX FY2024: $20.4MVREX FY2025: $18.8MFY18FY19FY20FY21FY22FY23FY24FY25
VICR $119.2MVREX $18.8M

Fiscal years as each company reports them; the two may end in different months.

Questions about Vicor and Varex Imaging

Which is bigger by revenue, Vicor or Varex Imaging?

Varex Imaging is bigger by revenue: $844.6M in fiscal 2025, against $452.7M for Vicor in fiscal 2025.

Which keeps more of its revenue as profit, Vicor or Varex Imaging?

Vicor had a net margin of 26.2% in fiscal 2025; Varex Imaging had -8.3% in fiscal 2025.

Which grew revenue faster, Vicor or Varex Imaging?

In their latest fiscal years revenue changed by +26.1% at Vicor and +4.1% at Varex Imaging.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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