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Side-by-side financial comparison of Latham Group, Inc. (SWIM) 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 $117.3M, roughly 1.8× Latham Group, Inc.). Varex Imaging Corp runs the higher net margin — 1.1% vs -7.3%, a 8.4% gap on every dollar of revenue. On growth, Latham Group, Inc. posted the faster year-over-year revenue change (5.3% vs 4.9%). Over the past eight quarters, Varex Imaging Corp's revenue compounded faster (0.8% CAGR vs -14.4%).
Latham & Watkins LLP is an American multinational law firm. Founded in 1934 in Los Angeles, California, it is known for its litigation, corporate, and regulatory law practices.
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.
SWIM vs VREX — Head-to-Head
Income Statement — Q1 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $117.3M | $209.6M |
| Net Profit | $-8.5M | $2.3M |
| Gross Margin | 31.7% | 33.3% |
| Operating Margin | — | 7.3% |
| Net Margin | -7.3% | 1.1% |
| Revenue YoY | 5.3% | 4.9% |
| Net Profit YoY | -43.1% | 866.7% |
| EPS (diluted) | $-0.07 | $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 | $117.3M | $209.6M | ||
| Q4 25 | $100.0M | $228.9M | ||
| Q3 25 | $161.9M | $203.0M | ||
| Q2 25 | $172.6M | $212.9M | ||
| Q1 25 | $111.4M | $199.8M | ||
| Q4 24 | $87.3M | — | ||
| Q3 24 | $150.5M | $205.7M | ||
| Q2 24 | $160.1M | $209.1M |
| Q1 26 | $-8.5M | $2.3M | ||
| Q4 25 | $-7.0M | $12.2M | ||
| Q3 25 | $8.1M | $-89.1M | ||
| Q2 25 | $16.0M | $6.9M | ||
| Q1 25 | $-6.0M | $-300.0K | ||
| Q4 24 | $-29.2M | — | ||
| Q3 24 | $5.9M | $-51.1M | ||
| Q2 24 | $13.3M | $1.4M |
| Q1 26 | 31.7% | 33.3% | ||
| Q4 25 | 28.0% | 34.0% | ||
| Q3 25 | 35.4% | 33.3% | ||
| Q2 25 | 37.1% | 36.0% | ||
| Q1 25 | 29.5% | 34.3% | ||
| Q4 24 | 24.6% | — | ||
| Q3 24 | 32.4% | 32.6% | ||
| Q2 24 | 33.1% | 32.0% |
| Q1 26 | — | 7.3% | ||
| Q4 25 | -10.7% | 8.6% | ||
| Q3 25 | 13.3% | -39.8% | ||
| Q2 25 | 14.3% | 10.4% | ||
| Q1 25 | -4.4% | 5.6% | ||
| Q4 24 | -14.9% | — | ||
| Q3 24 | 8.9% | 5.3% | ||
| Q2 24 | 12.5% | 4.4% |
| Q1 26 | -7.3% | 1.1% | ||
| Q4 25 | -7.0% | 5.3% | ||
| Q3 25 | 5.0% | -43.9% | ||
| Q2 25 | 9.3% | 3.2% | ||
| Q1 25 | -5.4% | -0.2% | ||
| Q4 24 | -33.4% | — | ||
| Q3 24 | 3.9% | -24.8% | ||
| Q2 24 | 8.3% | 0.7% |
| Q1 26 | $-0.07 | $0.05 | ||
| Q4 25 | $-0.06 | $0.29 | ||
| Q3 25 | $0.07 | $-2.15 | ||
| Q2 25 | $0.13 | $0.17 | ||
| Q1 25 | $-0.05 | $-0.01 | ||
| Q4 24 | $-0.24 | — | ||
| Q3 24 | $0.05 | $-1.25 | ||
| Q2 24 | $0.11 | $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 | — | $125.6M |
| Total DebtLower is stronger | $3.3M | $367.6M |
| Stockholders' EquityBook value | $396.7M | $476.9M |
| Total Assets | $856.4M | $1.1B |
| Debt / EquityLower = less leverage | 0.01× | 0.77× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $125.6M | ||
| Q4 25 | — | $155.1M | ||
| Q3 25 | — | $152.6M | ||
| Q2 25 | — | $223.0M | ||
| Q1 25 | — | $212.6M | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $200.5M | ||
| Q2 24 | — | $190.0M |
| Q1 26 | $3.3M | $367.6M | ||
| Q4 25 | $279.8M | $367.5M | ||
| Q3 25 | $281.1M | $367.5M | ||
| Q2 25 | $281.5M | $567.2M | ||
| Q1 25 | $306.9M | $567.0M | ||
| Q4 24 | $281.5M | — | ||
| Q3 24 | $282.8M | $443.4M | ||
| Q2 24 | $282.4M | $443.1M |
| Q1 26 | $396.7M | $476.9M | ||
| Q4 25 | $405.9M | $472.6M | ||
| Q3 25 | $408.4M | $455.3M | ||
| Q2 25 | $398.4M | $549.7M | ||
| Q1 25 | $381.1M | $540.2M | ||
| Q4 24 | $387.2M | — | ||
| Q3 24 | $416.6M | $529.1M | ||
| Q2 24 | $408.1M | $581.2M |
| Q1 26 | $856.4M | $1.1B | ||
| Q4 25 | $823.2M | $1.1B | ||
| Q3 25 | $844.4M | $1.1B | ||
| Q2 25 | $822.1M | $1.4B | ||
| Q1 25 | $824.6M | $1.3B | ||
| Q4 24 | $794.2M | — | ||
| Q3 24 | $853.4M | $1.2B | ||
| Q2 24 | $830.0M | $1.3B |
| Q1 26 | 0.01× | 0.77× | ||
| Q4 25 | 0.69× | 0.78× | ||
| Q3 25 | 0.69× | 0.81× | ||
| Q2 25 | 0.71× | 1.03× | ||
| Q1 25 | 0.81× | 1.05× | ||
| Q4 24 | 0.73× | — | ||
| Q3 24 | 0.68× | 0.84× | ||
| Q2 24 | 0.69× | 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 | $-47.7M | $-16.1M |
| Free Cash FlowOCF − Capex | — | $-26.8M |
| FCF MarginFCF / Revenue | — | -12.8% |
| Capex IntensityCapex / Revenue | — | 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 | $-47.7M | $-16.1M | ||
| Q4 25 | $23.3M | $7.9M | ||
| Q3 25 | $51.0M | $7.7M | ||
| Q2 25 | $36.0M | $16.6M | ||
| Q1 25 | $-46.9M | $9.5M | ||
| Q4 24 | $6.2M | — | ||
| Q3 24 | $37.2M | $25.9M | ||
| Q2 24 | $52.4M | $8.0M |
| Q1 26 | — | $-26.8M | ||
| Q4 25 | $14.1M | $2.3M | ||
| Q3 25 | $45.2M | $1.4M | ||
| Q2 25 | $29.1M | $9.8M | ||
| Q1 25 | $-50.3M | $5.3M | ||
| Q4 24 | $-98.0K | — | ||
| Q3 24 | $33.2M | $19.9M | ||
| Q2 24 | $47.9M | $3.3M |
| Q1 26 | — | -12.8% | ||
| Q4 25 | 14.1% | 1.0% | ||
| Q3 25 | 27.9% | 0.7% | ||
| Q2 25 | 16.8% | 4.6% | ||
| Q1 25 | -45.2% | 2.7% | ||
| Q4 24 | -0.1% | — | ||
| Q3 24 | 22.1% | 9.7% | ||
| Q2 24 | 29.9% | 1.6% |
| Q1 26 | — | 5.1% | ||
| Q4 25 | 9.2% | 2.4% | ||
| Q3 25 | 3.6% | 3.1% | ||
| Q2 25 | 4.0% | 3.2% | ||
| Q1 25 | 3.1% | 2.1% | ||
| Q4 24 | 7.2% | — | ||
| Q3 24 | 2.7% | 2.9% | ||
| Q2 24 | 2.8% | 2.2% |
| Q1 26 | — | -7.00× | ||
| Q4 25 | — | 0.65× | ||
| Q3 25 | 6.29× | — | ||
| Q2 25 | 2.25× | 2.41× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 6.32× | — | ||
| Q2 24 | 3.95× | 5.71× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
SWIM
Segment breakdown not available.
VREX
| Medical Segment | $144.8M | 69% |
| Industrial Segment | $64.8M | 31% |
