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Side-by-side financial comparison of Piedmont Realty Trust, Inc. (PDM) 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 $143.3M, roughly 1.5× Piedmont Realty Trust, Inc.). Varex Imaging Corp runs the higher net margin — 1.1% vs -31.4%, a 32.5% gap on every dollar of revenue. On growth, Varex Imaging Corp posted the faster year-over-year revenue change (4.9% vs 0.4%). Over the past eight quarters, Varex Imaging Corp's revenue compounded faster (0.8% CAGR vs 0.0%).
Piedmont Realty Trust, Inc. is a publicly traded real estate investment trust (REIT) that owns, operates, and invests in high-quality office properties primarily located in high-growth metropolitan areas across the United States. It serves corporate tenants across multiple industry sectors including technology, professional services, and healthcare, and pursues stable long-term returns for stakeholders via strategic property management and portfolio optimization.
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.
PDM vs VREX — Head-to-Head
Income Statement — Q1 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $143.3M | $209.6M |
| Net Profit | $-45.0M | $2.3M |
| Gross Margin | — | 33.3% |
| Operating Margin | — | 7.3% |
| Net Margin | -31.4% | 1.1% |
| Revenue YoY | 0.4% | 4.9% |
| Net Profit YoY | -27.9% | 866.7% |
| EPS (diluted) | $-0.10 | $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 | $143.3M | $209.6M | ||
| Q4 25 | $142.9M | $228.9M | ||
| Q3 25 | $139.2M | $203.0M | ||
| Q2 25 | $140.3M | $212.9M | ||
| Q1 25 | $142.7M | $199.8M | ||
| Q4 24 | $143.2M | — | ||
| Q3 24 | $139.3M | $205.7M | ||
| Q2 24 | $143.3M | $209.1M |
| Q1 26 | $-45.0M | $2.3M | ||
| Q4 25 | $-43.2M | $12.2M | ||
| Q3 25 | $-13.5M | $-89.1M | ||
| Q2 25 | $-16.8M | $6.9M | ||
| Q1 25 | $-10.1M | $-300.0K | ||
| Q4 24 | $-30.0M | — | ||
| Q3 24 | $-11.5M | $-51.1M | ||
| Q2 24 | $-9.8M | $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 | — | 8.6% | ||
| Q3 25 | — | -39.8% | ||
| Q2 25 | — | 10.4% | ||
| Q1 25 | — | 5.6% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 5.3% | ||
| Q2 24 | — | 4.4% |
| Q1 26 | -31.4% | 1.1% | ||
| Q4 25 | -30.3% | 5.3% | ||
| Q3 25 | -9.7% | -43.9% | ||
| Q2 25 | -12.0% | 3.2% | ||
| Q1 25 | -7.1% | -0.2% | ||
| Q4 24 | -20.9% | — | ||
| Q3 24 | -8.3% | -24.8% | ||
| Q2 24 | -6.8% | 0.7% |
| Q1 26 | $-0.10 | $0.05 | ||
| Q4 25 | $-0.34 | $0.29 | ||
| Q3 25 | $-0.11 | $-2.15 | ||
| Q2 25 | $-0.14 | $0.17 | ||
| Q1 25 | $-0.08 | $-0.01 | ||
| Q4 24 | $-0.25 | — | ||
| Q3 24 | $-0.09 | $-1.25 | ||
| Q2 24 | $-0.08 | $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 | $2.3M | $125.6M |
| Total DebtLower is stronger | — | $367.6M |
| Stockholders' EquityBook value | $1.5B | $476.9M |
| Total Assets | $4.0B | $1.1B |
| Debt / EquityLower = less leverage | — | 0.77× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $2.3M | $125.6M | ||
| Q4 25 | $731.0K | $155.1M | ||
| Q3 25 | $3.0M | $152.6M | ||
| Q2 25 | $3.3M | $223.0M | ||
| Q1 25 | $2.9M | $212.6M | ||
| Q4 24 | $109.6M | — | ||
| Q3 24 | $133.6M | $200.5M | ||
| Q2 24 | $138.5M | $190.0M |
| Q1 26 | — | $367.6M | ||
| Q4 25 | $2.2B | $367.5M | ||
| Q3 25 | $2.2B | $367.5M | ||
| Q2 25 | $2.2B | $567.2M | ||
| Q1 25 | $2.2B | $567.0M | ||
| Q4 24 | $2.2B | — | ||
| Q3 24 | $2.2B | $443.4M | ||
| Q2 24 | $2.2B | $443.1M |
| Q1 26 | $1.5B | $476.9M | ||
| Q4 25 | $1.5B | $472.6M | ||
| Q3 25 | $1.5B | $455.3M | ||
| Q2 25 | $1.5B | $549.7M | ||
| Q1 25 | $1.6B | $540.2M | ||
| Q4 24 | $1.6B | — | ||
| Q3 24 | $1.6B | $529.1M | ||
| Q2 24 | $1.7B | $581.2M |
| Q1 26 | $4.0B | $1.1B | ||
| Q4 25 | $4.0B | $1.1B | ||
| Q3 25 | $4.0B | $1.1B | ||
| Q2 25 | $4.0B | $1.4B | ||
| Q1 25 | $4.0B | $1.3B | ||
| Q4 24 | $4.1B | — | ||
| Q3 24 | $4.1B | $1.2B | ||
| Q2 24 | $4.2B | $1.3B |
| Q1 26 | — | 0.77× | ||
| Q4 25 | 1.49× | 0.78× | ||
| Q3 25 | 1.43× | 0.81× | ||
| Q2 25 | 1.41× | 1.03× | ||
| Q1 25 | 1.40× | 1.05× | ||
| Q4 24 | 1.40× | — | ||
| Q3 24 | 1.36× | 0.84× | ||
| Q2 24 | 1.34× | 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 | — | $-16.1M |
| Free Cash FlowOCF − Capex | — | $-26.8M |
| FCF MarginFCF / Revenue | — | -12.8% |
| Capex IntensityCapex / Revenue | 110.3% | 5.1% |
| Cash ConversionOCF / Net Profit | — | -7.00× |
| TTM Free Cash FlowTrailing 4 quarters | — | $-13.3M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $-16.1M | ||
| Q4 25 | $140.6M | $7.9M | ||
| Q3 25 | $35.8M | $7.7M | ||
| Q2 25 | $50.1M | $16.6M | ||
| Q1 25 | $3.7M | $9.5M | ||
| Q4 24 | $198.1M | — | ||
| Q3 24 | $42.9M | $25.9M | ||
| Q2 24 | $66.8M | $8.0M |
| Q1 26 | — | $-26.8M | ||
| Q4 25 | — | $2.3M | ||
| Q3 25 | — | $1.4M | ||
| Q2 25 | — | $9.8M | ||
| Q1 25 | — | $5.3M | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $19.9M | ||
| Q2 24 | — | $3.3M |
| Q1 26 | — | -12.8% | ||
| Q4 25 | — | 1.0% | ||
| Q3 25 | — | 0.7% | ||
| Q2 25 | — | 4.6% | ||
| Q1 25 | — | 2.7% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 9.7% | ||
| Q2 24 | — | 1.6% |
| Q1 26 | 110.3% | 5.1% | ||
| Q4 25 | — | 2.4% | ||
| Q3 25 | — | 3.1% | ||
| Q2 25 | — | 3.2% | ||
| Q1 25 | — | 2.1% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 2.9% | ||
| Q2 24 | — | 2.2% |
| Q1 26 | — | -7.00× | ||
| Q4 25 | — | 0.65× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 2.41× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 5.71× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
PDM
Segment breakdown not available.
VREX
| Medical Segment | $144.8M | 69% |
| Industrial Segment | $64.8M | 31% |
