Does VAREX IMAGING CORPORATION have an economic moat?

Based on its FY2025 SEC filings, the Moat Index scores VAREX IMAGING CORPORATION (VREX) 27.4 out of 100 — below the Shallow-moat bar, so no moat. The four filters behind that score (each 0–100): pricing power 49, returns on capital 8, balance-sheet safety 28, capital discipline 24.

Is VREX stock trading below its intrinsic value?

Against a deliberately conservative owner-earnings model (9% discount rate, 0% assumed growth, capped at 4%), estimated intrinsic value is $0.61 per share versus a recent price of $10.55 — 1621% above value. This is an educational estimate computed from primary SEC filings, not investment advice.

How has VREX's Moat Score changed over time?

The record logs 2 readings since Jul 17, 2026; the latest reads 27.4 out of 100 (no moat). No tier changes on record yet. The history is append-only — readings are only ever added, never rewritten.

The Moat Index

VAREX IMAGING CORPORATION

VREX · Technology · $439.8M mkt cap · FY2025 filings · No moat ·

Doesn't clear the bar

No moat

The four filters

Pricing power49

Median gross margin 32.9% over 10y, stable.

Returns on capital8

Median ROIC 6.0%, above the 9% hurdle in 10% of years.

Balance-sheet safety28

Net debt/EBITDA n/ax, interest coverage -1x.

Capital discipline24

Owner earnings trend unclear, share count growing (dilution).

Margin of safety

Above valueOn sale

1621% above value

Owner earnings (normalized): $2.3M
Est. intrinsic value / share: $0.61
Recent price: $10.55
Discount to value: 1621% above value

Conservative model: 9% discount rate, 0% assumed growth (capped at 4%), maintenance capex ≈ min(capex, D&A).

Fundamentals

There's no normalized fundamentals series for VREX yet — it appears once ingest has processed its filings.

Moat Score history

Moat Score over timeLast scored reading of each day, on the 0–100 scale27.4 / 100

Score history begins Jul 17, 2026 — the record builds from here and can’t be backfilled.

Tier changesSame-methodology crossings of the Wide / Narrow / Shallow bars

None yet — VREX has read No moat for every logged capture since Jul 17, 2026.

Scores are logged append-only and never overwritten — this record can’t be backfilled, which is exactly why it’s worth keeping.

Technology context

#441 of 532 scored Technology companies, ranked by Moat Score.

Nearest peers by Moat Score

#439ALIT Alight, Inc. / Delaware27.7 out of 100, No moatNo moat
#440KELYA KELLY SERVICES, INC.27.5 out of 100, No moatNo moat
#442AOSL Alpha and Omega Semiconductor Limited27.3 out of 100, No moatNo moat
#443XYZ Block, Inc.27.1 out of 100, No moatNo moat

Compare VREX with its nearest peers →All Technology companies on the Index →

Common questions about VREX

Does VAREX IMAGING CORPORATION have an economic moat?: Based on its FY2025 SEC filings, the Moat Index scores VAREX IMAGING CORPORATION (VREX) 27.4 out of 100 — below the Shallow-moat bar, so no moat. The four filters behind that score (each 0–100): pricing power 49, returns on capital 8, balance-sheet safety 28, capital discipline 24.
Is VREX stock trading below its intrinsic value?: Against a deliberately conservative owner-earnings model (9% discount rate, 0% assumed growth, capped at 4%), estimated intrinsic value is $0.61 per share versus a recent price of $10.55 — 1621% above value. This is an educational estimate computed from primary SEC filings, not investment advice.
How has VREX's Moat Score changed over time?: The record logs 2 readings since Jul 17, 2026; the latest reads 27.4 out of 100 (no moat). No tier changes on record yet. The history is append-only — readings are only ever added, never rewritten.

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Scored from primary SEC filings via the public methodology. Educational only — not a recommendation to buy or sell VREX. See the disclaimer.