vs
Side-by-side financial comparison of Palomar Holdings, Inc. (PLMR) and Varex Imaging Corp (VREX). Click either name above to swap in a different company.
Palomar Holdings, Inc. is the larger business by last-quarter revenue ($253.4M vs $209.6M, roughly 1.2× Varex Imaging Corp). On growth, Palomar Holdings, Inc. posted the faster year-over-year revenue change (62.7% vs 4.9%). Palomar Holdings, Inc. produced more free cash flow last quarter ($409.0M vs $-26.8M). Over the past eight quarters, Palomar Holdings, Inc.'s revenue compounded faster (46.2% CAGR vs 0.8%).
Palomar Holdings, Inc. is a specialty insurance holding company that primarily provides property insurance products for catastrophe-exposed residential and commercial assets. It mainly operates across the United States, focusing on core segments including earthquake, flood, and windstorm coverage to meet high-risk property protection demands of customers.
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.
PLMR vs VREX — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $253.4M | $209.6M |
| Net Profit | — | $2.3M |
| Gross Margin | — | 33.3% |
| Operating Margin | 28.7% | 7.3% |
| Net Margin | — | 1.1% |
| Revenue YoY | 62.7% | 4.9% |
| Net Profit YoY | — | 866.7% |
| EPS (diluted) | $2.05 | $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 | $253.4M | $228.9M | ||
| Q3 25 | $244.7M | $203.0M | ||
| Q2 25 | $203.3M | $212.9M | ||
| Q1 25 | $174.6M | $199.8M | ||
| Q4 24 | $155.8M | — | ||
| Q3 24 | $148.5M | $205.7M | ||
| Q2 24 | $131.1M | $209.1M |
| Q1 26 | — | $2.3M | ||
| Q4 25 | — | $12.2M | ||
| Q3 25 | $51.5M | $-89.1M | ||
| Q2 25 | $46.5M | $6.9M | ||
| Q1 25 | $42.9M | $-300.0K | ||
| Q4 24 | — | — | ||
| Q3 24 | $30.5M | $-51.1M | ||
| Q2 24 | $25.7M | $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 | 28.7% | 8.6% | ||
| Q3 25 | 27.4% | -39.8% | ||
| Q2 25 | 29.5% | 10.4% | ||
| Q1 25 | 30.8% | 5.6% | ||
| Q4 24 | 28.9% | — | ||
| Q3 24 | 25.9% | 5.3% | ||
| Q2 24 | 25.5% | 4.4% |
| Q1 26 | — | 1.1% | ||
| Q4 25 | — | 5.3% | ||
| Q3 25 | 21.0% | -43.9% | ||
| Q2 25 | 22.9% | 3.2% | ||
| Q1 25 | 24.6% | -0.2% | ||
| Q4 24 | — | — | ||
| Q3 24 | 20.5% | -24.8% | ||
| Q2 24 | 19.6% | 0.7% |
| Q1 26 | — | $0.05 | ||
| Q4 25 | $2.05 | $0.29 | ||
| Q3 25 | $1.87 | $-2.15 | ||
| Q2 25 | $1.68 | $0.17 | ||
| Q1 25 | $1.57 | $-0.01 | ||
| Q4 24 | $1.29 | — | ||
| Q3 24 | $1.15 | $-1.25 | ||
| Q2 24 | $1.00 | $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 | $106.9M | $125.6M |
| Total DebtLower is stronger | — | $367.6M |
| Stockholders' EquityBook value | $942.7M | $476.9M |
| Total Assets | $3.1B | $1.1B |
| Debt / EquityLower = less leverage | — | 0.77× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $125.6M | ||
| Q4 25 | $106.9M | $155.1M | ||
| Q3 25 | $111.7M | $152.6M | ||
| Q2 25 | $81.3M | $223.0M | ||
| Q1 25 | $119.3M | $212.6M | ||
| Q4 24 | $80.4M | — | ||
| Q3 24 | $86.5M | $200.5M | ||
| Q2 24 | $47.8M | $190.0M |
| Q1 26 | — | $367.6M | ||
| Q4 25 | — | $367.5M | ||
| Q3 25 | — | $367.5M | ||
| Q2 25 | — | $567.2M | ||
| Q1 25 | — | $567.0M | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $443.4M | ||
| Q2 24 | — | $443.1M |
| Q1 26 | — | $476.9M | ||
| Q4 25 | $942.7M | $472.6M | ||
| Q3 25 | $878.1M | $455.3M | ||
| Q2 25 | $847.2M | $549.7M | ||
| Q1 25 | $790.4M | $540.2M | ||
| Q4 24 | $729.0M | — | ||
| Q3 24 | $703.3M | $529.1M | ||
| Q2 24 | $532.6M | $581.2M |
| Q1 26 | — | $1.1B | ||
| Q4 25 | $3.1B | $1.1B | ||
| Q3 25 | $2.9B | $1.1B | ||
| Q2 25 | $2.8B | $1.4B | ||
| Q1 25 | $2.4B | $1.3B | ||
| Q4 24 | $2.3B | — | ||
| Q3 24 | $2.3B | $1.2B | ||
| Q2 24 | $2.0B | $1.3B |
| Q1 26 | — | 0.77× | ||
| Q4 25 | — | 0.78× | ||
| Q3 25 | — | 0.81× | ||
| Q2 25 | — | 1.03× | ||
| Q1 25 | — | 1.05× | ||
| Q4 24 | — | — | ||
| 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 | $409.1M | $-16.1M |
| Free Cash FlowOCF − Capex | $409.0M | $-26.8M |
| FCF MarginFCF / Revenue | 161.4% | -12.8% |
| Capex IntensityCapex / Revenue | 0.1% | 5.1% |
| Cash ConversionOCF / Net Profit | — | -7.00× |
| TTM Free Cash FlowTrailing 4 quarters | $700.6M | $-13.3M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $-16.1M | ||
| Q4 25 | $409.1M | $7.9M | ||
| Q3 25 | $83.6M | $7.7M | ||
| Q2 25 | $120.9M | $16.6M | ||
| Q1 25 | $87.2M | $9.5M | ||
| Q4 24 | $261.2M | — | ||
| Q3 24 | $100.3M | $25.9M | ||
| Q2 24 | $55.1M | $8.0M |
| Q1 26 | — | $-26.8M | ||
| Q4 25 | $409.0M | $2.3M | ||
| Q3 25 | $83.6M | $1.4M | ||
| Q2 25 | $120.8M | $9.8M | ||
| Q1 25 | $87.1M | $5.3M | ||
| Q4 24 | $260.9M | — | ||
| Q3 24 | $100.1M | $19.9M | ||
| Q2 24 | — | $3.3M |
| Q1 26 | — | -12.8% | ||
| Q4 25 | 161.4% | 1.0% | ||
| Q3 25 | 34.2% | 0.7% | ||
| Q2 25 | 59.4% | 4.6% | ||
| Q1 25 | 49.9% | 2.7% | ||
| Q4 24 | 167.5% | — | ||
| Q3 24 | 67.4% | 9.7% | ||
| Q2 24 | — | 1.6% |
| Q1 26 | — | 5.1% | ||
| Q4 25 | 0.1% | 2.4% | ||
| Q3 25 | 0.0% | 3.1% | ||
| Q2 25 | 0.0% | 3.2% | ||
| Q1 25 | 0.0% | 2.1% | ||
| Q4 24 | 0.2% | — | ||
| Q3 24 | 0.1% | 2.9% | ||
| Q2 24 | 0.0% | 2.2% |
| Q1 26 | — | -7.00× | ||
| Q4 25 | — | 0.65× | ||
| Q3 25 | 1.63× | — | ||
| Q2 25 | 2.60× | 2.41× | ||
| Q1 25 | 2.03× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 3.29× | — | ||
| Q2 24 | 2.14× | 5.71× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
PLMR
Segment breakdown not available.
VREX
| Medical Segment | $144.8M | 69% |
| Industrial Segment | $64.8M | 31% |
