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Side-by-side financial comparison of Service Properties Trust (SVC) and Varex Imaging Corp (VREX). Click either name above to swap in a different company.
Service Properties Trust is the larger business by last-quarter revenue ($296.5M vs $209.6M, roughly 1.4× Varex Imaging Corp). Varex Imaging Corp runs the higher net margin — 1.1% vs -0.3%, a 1.4% gap on every dollar of revenue. On growth, Varex Imaging Corp posted the faster year-over-year revenue change (4.9% vs -17.0%). Varex Imaging Corp produced more free cash flow last quarter ($-26.8M vs $-95.2M). Over the past eight quarters, Varex Imaging Corp's revenue compounded faster (0.8% CAGR vs -6.1%).
Medical Properties Trust, Inc. (MPT) is an international real estate investment trust (REIT) based in Birmingham, Alabama that purchases and invests in healthcare facilities and for-profit healthcare holding companies, primarily in the United States and Europe. Their property acquisitions often come in the form of sale-leaseback agreements, in which the original property owner sells the property to MPT and becomes their tenant. MPT's tenants are generally subject to long-term triple net lease...
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.
SVC vs VREX — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $296.5M | $209.6M |
| Net Profit | $-782.0K | $2.3M |
| Gross Margin | — | 33.3% |
| Operating Margin | -3.9% | 7.3% |
| Net Margin | -0.3% | 1.1% |
| Revenue YoY | -17.0% | 4.9% |
| Net Profit YoY | 99.0% | 866.7% |
| EPS (diluted) | $-0.01 | $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 | $296.5M | $228.9M | ||
| Q3 25 | $377.6M | $203.0M | ||
| Q2 25 | $404.4M | $212.9M | ||
| Q1 25 | $335.0M | $199.8M | ||
| Q4 24 | $357.0M | — | ||
| Q3 24 | $390.9M | $205.7M | ||
| Q2 24 | $412.5M | $209.1M |
| Q1 26 | — | $2.3M | ||
| Q4 25 | $-782.0K | $12.2M | ||
| Q3 25 | $-46.9M | $-89.1M | ||
| Q2 25 | $-38.2M | $6.9M | ||
| Q1 25 | $-116.4M | $-300.0K | ||
| Q4 24 | $-76.4M | — | ||
| Q3 24 | $-46.9M | $-51.1M | ||
| Q2 24 | $-73.8M | $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 | -3.9% | 8.6% | ||
| Q3 25 | -12.8% | -39.8% | ||
| Q2 25 | -9.2% | 10.4% | ||
| Q1 25 | -33.3% | 5.6% | ||
| Q4 24 | -19.4% | — | ||
| Q3 24 | -12.8% | 5.3% | ||
| Q2 24 | -17.1% | 4.4% |
| Q1 26 | — | 1.1% | ||
| Q4 25 | -0.3% | 5.3% | ||
| Q3 25 | -12.4% | -43.9% | ||
| Q2 25 | -9.4% | 3.2% | ||
| Q1 25 | -34.8% | -0.2% | ||
| Q4 24 | -21.4% | — | ||
| Q3 24 | -12.0% | -24.8% | ||
| Q2 24 | -17.9% | 0.7% |
| Q1 26 | — | $0.05 | ||
| Q4 25 | $-0.01 | $0.29 | ||
| Q3 25 | $-0.28 | $-2.15 | ||
| Q2 25 | $-0.23 | $0.17 | ||
| Q1 25 | $-0.70 | $-0.01 | ||
| Q4 24 | $-0.46 | — | ||
| Q3 24 | $-0.28 | $-1.25 | ||
| Q2 24 | $-0.45 | $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 | $346.8M | $125.6M |
| Total DebtLower is stronger | $5.5B | $367.6M |
| Stockholders' EquityBook value | $646.1M | $476.9M |
| Total Assets | $6.5B | $1.1B |
| Debt / EquityLower = less leverage | 8.52× | 0.77× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $125.6M | ||
| Q4 25 | $346.8M | $155.1M | ||
| Q3 25 | $417.4M | $152.6M | ||
| Q2 25 | $63.2M | $223.0M | ||
| Q1 25 | $80.1M | $212.6M | ||
| Q4 24 | $143.5M | — | ||
| Q3 24 | $48.6M | $200.5M | ||
| Q2 24 | $14.6M | $190.0M |
| Q1 26 | — | $367.6M | ||
| Q4 25 | $5.5B | $367.5M | ||
| Q3 25 | — | $367.5M | ||
| Q2 25 | — | $567.2M | ||
| Q1 25 | — | $567.0M | ||
| Q4 24 | $5.8B | — | ||
| Q3 24 | — | $443.4M | ||
| Q2 24 | — | $443.1M |
| Q1 26 | — | $476.9M | ||
| Q4 25 | $646.1M | $472.6M | ||
| Q3 25 | $647.9M | $455.3M | ||
| Q2 25 | $695.9M | $549.7M | ||
| Q1 25 | $734.6M | $540.2M | ||
| Q4 24 | $851.9M | — | ||
| Q3 24 | $929.0M | $529.1M | ||
| Q2 24 | $1.0B | $581.2M |
| Q1 26 | — | $1.1B | ||
| Q4 25 | $6.5B | $1.1B | ||
| Q3 25 | $7.0B | $1.1B | ||
| Q2 25 | $6.9B | $1.4B | ||
| Q1 25 | $7.0B | $1.3B | ||
| Q4 24 | $7.1B | — | ||
| Q3 24 | $7.1B | $1.2B | ||
| Q2 24 | $7.1B | $1.3B |
| Q1 26 | — | 0.77× | ||
| Q4 25 | 8.52× | 0.78× | ||
| Q3 25 | — | 0.81× | ||
| Q2 25 | — | 1.03× | ||
| Q1 25 | — | 1.05× | ||
| Q4 24 | 6.85× | — | ||
| 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 | $-18.5M | $-16.1M |
| Free Cash FlowOCF − Capex | $-95.2M | $-26.8M |
| FCF MarginFCF / Revenue | -32.1% | -12.8% |
| Capex IntensityCapex / Revenue | 25.9% | 5.1% |
| Cash ConversionOCF / Net Profit | — | -7.00× |
| TTM Free Cash FlowTrailing 4 quarters | $-107.0M | $-13.3M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $-16.1M | ||
| Q4 25 | $-18.5M | $7.9M | ||
| Q3 25 | $98.1M | $7.7M | ||
| Q2 25 | $-7.0K | $16.6M | ||
| Q1 25 | $38.2M | $9.5M | ||
| Q4 24 | $-9.7M | — | ||
| Q3 24 | $106.2M | $25.9M | ||
| Q2 24 | $43.8M | $8.0M |
| Q1 26 | — | $-26.8M | ||
| Q4 25 | $-95.2M | $2.3M | ||
| Q3 25 | $57.9M | $1.4M | ||
| Q2 25 | $-46.6M | $9.8M | ||
| Q1 25 | $-23.2M | $5.3M | ||
| Q4 24 | $-88.9M | — | ||
| Q3 24 | $24.1M | $19.9M | ||
| Q2 24 | $-22.3M | $3.3M |
| Q1 26 | — | -12.8% | ||
| Q4 25 | -32.1% | 1.0% | ||
| Q3 25 | 15.3% | 0.7% | ||
| Q2 25 | -11.5% | 4.6% | ||
| Q1 25 | -6.9% | 2.7% | ||
| Q4 24 | -24.9% | — | ||
| Q3 24 | 6.2% | 9.7% | ||
| Q2 24 | -5.4% | 1.6% |
| Q1 26 | — | 5.1% | ||
| Q4 25 | 25.9% | 2.4% | ||
| Q3 25 | 10.6% | 3.1% | ||
| Q2 25 | 11.5% | 3.2% | ||
| Q1 25 | 18.3% | 2.1% | ||
| Q4 24 | 22.2% | — | ||
| Q3 24 | 21.0% | 2.9% | ||
| Q2 24 | 16.0% | 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
SVC
Segment breakdown not available.
VREX
| Medical Segment | $144.8M | 69% |
| Industrial Segment | $64.8M | 31% |
