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Side-by-side financial comparison of Krispy Kreme, Inc. (DNUT) and Varex Imaging Corp (VREX). Click either name above to swap in a different company.
Krispy Kreme, Inc. is the larger business by last-quarter revenue ($392.4M vs $209.6M, roughly 1.9× Varex Imaging Corp). Varex Imaging Corp runs the higher net margin — 1.1% vs -7.1%, a 8.2% gap on every dollar of revenue. On growth, Varex Imaging Corp posted the faster year-over-year revenue change (4.9% vs -2.9%). Krispy Kreme, Inc. produced more free cash flow last quarter ($27.9M vs $-26.8M). Over the past eight quarters, Varex Imaging Corp's revenue compounded faster (0.8% CAGR vs -5.9%).
Krispy Kreme, Inc. is an American multinational doughnut company and coffeehouse chain. Krispy Kreme was founded by Vernon Rudolph (1915–1973), who bought a yeast-raised recipe from a New Orleans chef, rented a building in 1937 in what is now historic Old Salem in Winston-Salem, North Carolina, and began selling to local grocery stores. Steady growth preceded an ambitious expansion as a public company in the period 2000 to 2016, which ultimately proved unprofitable. In 2016, the company retur...
Varex Imaging Corp is a global supplier of advanced imaging components and solutions, including X-ray tubes, digital flat panel detectors, and image processing software. Its products serve medical imaging, radiation oncology, and industrial non-destructive testing segments, with customers across key global markets.
DNUT vs VREX — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $392.4M | $209.6M |
| Net Profit | $-27.8M | $2.3M |
| Gross Margin | — | 33.3% |
| Operating Margin | -1.9% | 7.3% |
| Net Margin | -7.1% | 1.1% |
| Revenue YoY | -2.9% | 4.9% |
| Net Profit YoY | -23.8% | 866.7% |
| EPS (diluted) | $-0.18 | $0.05 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | — | $209.6M | ||
| Q4 25 | $392.4M | $228.9M | ||
| Q3 25 | $375.3M | $203.0M | ||
| Q2 25 | $379.8M | $212.9M | ||
| Q1 25 | $375.2M | $199.8M | ||
| Q4 24 | $404.0M | — | ||
| Q3 24 | $379.9M | $205.7M | ||
| Q2 24 | $438.8M | $209.1M |
| Q1 26 | — | $2.3M | ||
| Q4 25 | $-27.8M | $12.2M | ||
| Q3 25 | $-19.4M | $-89.1M | ||
| Q2 25 | $-435.3M | $6.9M | ||
| Q1 25 | $-33.3M | $-300.0K | ||
| Q4 24 | $-22.4M | — | ||
| Q3 24 | $39.6M | $-51.1M | ||
| Q2 24 | $-5.5M | $1.4M |
| Q1 26 | — | 33.3% | ||
| Q4 25 | — | 34.0% | ||
| Q3 25 | — | 33.3% | ||
| Q2 25 | — | 36.0% | ||
| Q1 25 | — | 34.3% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 32.6% | ||
| Q2 24 | — | 32.0% |
| Q1 26 | — | 7.3% | ||
| Q4 25 | -1.9% | 8.6% | ||
| Q3 25 | -1.9% | -39.8% | ||
| Q2 25 | -114.4% | 10.4% | ||
| Q1 25 | -5.4% | 5.6% | ||
| Q4 24 | -2.8% | — | ||
| Q3 24 | -4.2% | 5.3% | ||
| Q2 24 | 1.6% | 4.4% |
| Q1 26 | — | 1.1% | ||
| Q4 25 | -7.1% | 5.3% | ||
| Q3 25 | -5.2% | -43.9% | ||
| Q2 25 | -114.6% | 3.2% | ||
| Q1 25 | -8.9% | -0.2% | ||
| Q4 24 | -5.6% | — | ||
| Q3 24 | 10.4% | -24.8% | ||
| Q2 24 | -1.3% | 0.7% |
| Q1 26 | — | $0.05 | ||
| Q4 25 | $-0.18 | $0.29 | ||
| Q3 25 | $-0.11 | $-2.15 | ||
| Q2 25 | $-2.55 | $0.17 | ||
| Q1 25 | $-0.20 | $-0.01 | ||
| Q4 24 | $-0.13 | — | ||
| Q3 24 | $0.23 | $-1.25 | ||
| Q2 24 | $-0.03 | $0.03 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $42.4M | $125.6M |
| Total DebtLower is stronger | $911.9M | $367.6M |
| Stockholders' EquityBook value | $650.1M | $476.9M |
| Total Assets | $2.6B | $1.1B |
| Debt / EquityLower = less leverage | 1.40× | 0.77× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $125.6M | ||
| Q4 25 | $42.4M | $155.1M | ||
| Q3 25 | $30.7M | $152.6M | ||
| Q2 25 | $21.3M | $223.0M | ||
| Q1 25 | $18.7M | $212.6M | ||
| Q4 24 | $29.0M | — | ||
| Q3 24 | $25.4M | $200.5M | ||
| Q2 24 | $28.6M | $190.0M |
| Q1 26 | — | $367.6M | ||
| Q4 25 | $911.9M | $367.5M | ||
| Q3 25 | $906.2M | $367.5M | ||
| Q2 25 | $889.4M | $567.2M | ||
| Q1 25 | $935.0M | $567.0M | ||
| Q4 24 | $844.5M | — | ||
| Q3 24 | $804.6M | $443.4M | ||
| Q2 24 | $895.0M | $443.1M |
| Q1 26 | — | $476.9M | ||
| Q4 25 | $650.1M | $472.6M | ||
| Q3 25 | $670.3M | $455.3M | ||
| Q2 25 | $693.6M | $549.7M | ||
| Q1 25 | $1.1B | $540.2M | ||
| Q4 24 | $1.1B | — | ||
| Q3 24 | $1.2B | $529.1M | ||
| Q2 24 | $1.1B | $581.2M |
| Q1 26 | — | $1.1B | ||
| Q4 25 | $2.6B | $1.1B | ||
| Q3 25 | $2.6B | $1.1B | ||
| Q2 25 | $2.6B | $1.4B | ||
| Q1 25 | $3.1B | $1.3B | ||
| Q4 24 | $3.1B | — | ||
| Q3 24 | $3.1B | $1.2B | ||
| Q2 24 | $3.2B | $1.3B |
| Q1 26 | — | 0.77× | ||
| Q4 25 | 1.40× | 0.78× | ||
| Q3 25 | 1.35× | 0.81× | ||
| Q2 25 | 1.28× | 1.03× | ||
| Q1 25 | 0.85× | 1.05× | ||
| Q4 24 | 0.74× | — | ||
| Q3 24 | 0.68× | 0.84× | ||
| Q2 24 | 0.79× | 0.76× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $45.0M | $-16.1M |
| Free Cash FlowOCF − Capex | $27.9M | $-26.8M |
| FCF MarginFCF / Revenue | 7.1% | -12.8% |
| Capex IntensityCapex / Revenue | 4.4% | 5.1% |
| Cash ConversionOCF / Net Profit | — | -7.00× |
| TTM Free Cash FlowTrailing 4 quarters | $-64.0M | $-13.3M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $-16.1M | ||
| Q4 25 | $45.0M | $7.9M | ||
| Q3 25 | $42.3M | $7.7M | ||
| Q2 25 | $-32.5M | $16.6M | ||
| Q1 25 | $-20.8M | $9.5M | ||
| Q4 24 | $27.0M | — | ||
| Q3 24 | $3.3M | $25.9M | ||
| Q2 24 | $33.2M | $8.0M |
| Q1 26 | — | $-26.8M | ||
| Q4 25 | $27.9M | $2.3M | ||
| Q3 25 | $15.5M | $1.4M | ||
| Q2 25 | $-60.8M | $9.8M | ||
| Q1 25 | $-46.7M | $5.3M | ||
| Q4 24 | $-6.9M | — | ||
| Q3 24 | $-22.9M | $19.9M | ||
| Q2 24 | $1.6M | $3.3M |
| Q1 26 | — | -12.8% | ||
| Q4 25 | 7.1% | 1.0% | ||
| Q3 25 | 4.1% | 0.7% | ||
| Q2 25 | -16.0% | 4.6% | ||
| Q1 25 | -12.5% | 2.7% | ||
| Q4 24 | -1.7% | — | ||
| Q3 24 | -6.0% | 9.7% | ||
| Q2 24 | 0.4% | 1.6% |
| Q1 26 | — | 5.1% | ||
| Q4 25 | 4.4% | 2.4% | ||
| Q3 25 | 7.1% | 3.1% | ||
| Q2 25 | 7.4% | 3.2% | ||
| Q1 25 | 6.9% | 2.1% | ||
| Q4 24 | 8.4% | — | ||
| Q3 24 | 6.9% | 2.9% | ||
| Q2 24 | 7.2% | 2.2% |
| Q1 26 | — | -7.00× | ||
| Q4 25 | — | 0.65× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 2.41× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 0.08× | — | ||
| Q2 24 | — | 5.71× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
DNUT
Segment breakdown not available.
VREX
| Medical Segment | $144.8M | 69% |
| Industrial Segment | $64.8M | 31% |
