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Side-by-side financial comparison of PAMT CORP (PAMT) and Varex Imaging Corp (VREX). Click either name above to swap in a different company.
Varex Imaging Corp is the larger business by last-quarter revenue ($209.6M vs $141.3M, roughly 1.5× PAMT CORP). Varex Imaging Corp runs the higher net margin — 1.1% vs -20.7%, a 21.8% gap on every dollar of revenue. On growth, Varex Imaging Corp posted the faster year-over-year revenue change (4.9% vs -15.1%). PAMT CORP produced more free cash flow last quarter ($-25.0M vs $-26.8M). Over the past eight quarters, Varex Imaging Corp's revenue compounded faster (0.8% CAGR vs -12.0%).
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.
PAMT vs VREX — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $141.3M | $209.6M |
| Net Profit | $-29.3M | $2.3M |
| Gross Margin | — | 33.3% |
| Operating Margin | -27.0% | 7.3% |
| Net Margin | -20.7% | 1.1% |
| Revenue YoY | -15.1% | 4.9% |
| Net Profit YoY | 7.4% | 866.7% |
| EPS (diluted) | $-1.38 | $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 | $141.3M | $228.9M | ||
| Q3 25 | $150.3M | $203.0M | ||
| Q2 25 | $151.1M | $212.9M | ||
| Q1 25 | $155.3M | $199.8M | ||
| Q4 24 | $166.5M | — | ||
| Q3 24 | $182.6M | $205.7M | ||
| Q2 24 | $182.9M | $209.1M |
| Q1 26 | — | $2.3M | ||
| Q4 25 | $-29.3M | $12.2M | ||
| Q3 25 | $-5.6M | $-89.1M | ||
| Q2 25 | $-9.6M | $6.9M | ||
| Q1 25 | $-8.1M | $-300.0K | ||
| Q4 24 | $-31.6M | — | ||
| Q3 24 | $2.4M | $-51.1M | ||
| Q2 24 | $-2.9M | $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 | -27.0% | 8.6% | ||
| Q3 25 | -3.8% | -39.8% | ||
| Q2 25 | -7.3% | 10.4% | ||
| Q1 25 | -5.9% | 5.6% | ||
| Q4 24 | -22.6% | — | ||
| Q3 24 | 1.3% | 5.3% | ||
| Q2 24 | -0.4% | 4.4% |
| Q1 26 | — | 1.1% | ||
| Q4 25 | -20.7% | 5.3% | ||
| Q3 25 | -3.7% | -43.9% | ||
| Q2 25 | -6.4% | 3.2% | ||
| Q1 25 | -5.2% | -0.2% | ||
| Q4 24 | -19.0% | — | ||
| Q3 24 | 1.3% | -24.8% | ||
| Q2 24 | -1.6% | 0.7% |
| Q1 26 | — | $0.05 | ||
| Q4 25 | $-1.38 | $0.29 | ||
| Q3 25 | $-0.27 | $-2.15 | ||
| Q2 25 | $-0.46 | $0.17 | ||
| Q1 25 | $-0.37 | $-0.01 | ||
| Q4 24 | $-1.44 | — | ||
| Q3 24 | $0.11 | $-1.25 | ||
| Q2 24 | $-0.13 | $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 | $83.7M | $125.6M |
| Total DebtLower is stronger | $333.9M | $367.6M |
| Stockholders' EquityBook value | $210.5M | $476.9M |
| Total Assets | $697.9M | $1.1B |
| Debt / EquityLower = less leverage | 1.59× | 0.77× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $125.6M | ||
| Q4 25 | $83.7M | $155.1M | ||
| Q3 25 | $115.6M | $152.6M | ||
| Q2 25 | $117.3M | $223.0M | ||
| Q1 25 | $102.7M | $212.6M | ||
| Q4 24 | $110.7M | — | ||
| Q3 24 | $92.3M | $200.5M | ||
| Q2 24 | $114.0M | $190.0M |
| Q1 26 | — | $367.6M | ||
| Q4 25 | $333.9M | $367.5M | ||
| Q3 25 | — | $367.5M | ||
| Q2 25 | — | $567.2M | ||
| Q1 25 | — | $567.0M | ||
| Q4 24 | $325.6M | — | ||
| Q3 24 | — | $443.4M | ||
| Q2 24 | — | $443.1M |
| Q1 26 | — | $476.9M | ||
| Q4 25 | $210.5M | $472.6M | ||
| Q3 25 | $239.5M | $455.3M | ||
| Q2 25 | $244.9M | $549.7M | ||
| Q1 25 | $269.6M | $540.2M | ||
| Q4 24 | $277.5M | — | ||
| Q3 24 | $308.9M | $529.1M | ||
| Q2 24 | $306.7M | $581.2M |
| Q1 26 | — | $1.1B | ||
| Q4 25 | $697.9M | $1.1B | ||
| Q3 25 | $715.2M | $1.1B | ||
| Q2 25 | $707.9M | $1.4B | ||
| Q1 25 | $712.6M | $1.3B | ||
| Q4 24 | $741.7M | — | ||
| Q3 24 | $756.7M | $1.2B | ||
| Q2 24 | $733.5M | $1.3B |
| Q1 26 | — | 0.77× | ||
| Q4 25 | 1.59× | 0.78× | ||
| Q3 25 | — | 0.81× | ||
| Q2 25 | — | 1.03× | ||
| Q1 25 | — | 1.05× | ||
| Q4 24 | 1.17× | — | ||
| Q3 24 | — | 0.84× | ||
| Q2 24 | — | 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 | $-5.8M | $-16.1M |
| Free Cash FlowOCF − Capex | $-25.0M | $-26.8M |
| FCF MarginFCF / Revenue | -17.7% | -12.8% |
| Capex IntensityCapex / Revenue | 13.6% | 5.1% |
| Cash ConversionOCF / Net Profit | — | -7.00× |
| TTM Free Cash FlowTrailing 4 quarters | $-23.4M | $-13.3M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $-16.1M | ||
| Q4 25 | $-5.8M | $7.9M | ||
| Q3 25 | $5.9M | $7.7M | ||
| Q2 25 | $12.2M | $16.6M | ||
| Q1 25 | $5.0M | $9.5M | ||
| Q4 24 | $15.2M | — | ||
| Q3 24 | $15.5M | $25.9M | ||
| Q2 24 | $18.7M | $8.0M |
| Q1 26 | — | $-26.8M | ||
| Q4 25 | $-25.0M | $2.3M | ||
| Q3 25 | $2.5M | $1.4M | ||
| Q2 25 | $5.9M | $9.8M | ||
| Q1 25 | $-6.8M | $5.3M | ||
| Q4 24 | $-39.9M | — | ||
| Q3 24 | $-33.6M | $19.9M | ||
| Q2 24 | $4.1M | $3.3M |
| Q1 26 | — | -12.8% | ||
| Q4 25 | -17.7% | 1.0% | ||
| Q3 25 | 1.7% | 0.7% | ||
| Q2 25 | 3.9% | 4.6% | ||
| Q1 25 | -4.4% | 2.7% | ||
| Q4 24 | -24.0% | — | ||
| Q3 24 | -18.4% | 9.7% | ||
| Q2 24 | 2.2% | 1.6% |
| Q1 26 | — | 5.1% | ||
| Q4 25 | 13.6% | 2.4% | ||
| Q3 25 | 2.3% | 3.1% | ||
| Q2 25 | 4.2% | 3.2% | ||
| Q1 25 | 7.6% | 2.1% | ||
| Q4 24 | 33.1% | — | ||
| Q3 24 | 26.9% | 2.9% | ||
| Q2 24 | 8.0% | 2.2% |
| Q1 26 | — | -7.00× | ||
| Q4 25 | — | 0.65× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 2.41× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 6.44× | — | ||
| Q2 24 | — | 5.71× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
PAMT
| Freight Transportation Service | $123.1M | 87% |
| Fuel Surcharge | $18.2M | 13% |
VREX
| Medical Segment | $144.8M | 69% |
| Industrial Segment | $64.8M | 31% |
