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Side-by-side financial comparison of VICOR CORP (VICR) 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 $113.0M, roughly 1.9× VICOR CORP). VICOR CORP runs the higher net margin — 18.3% vs 1.1%, a 17.2% gap on every dollar of revenue. On growth, VICOR CORP posted the faster year-over-year revenue change (20.2% vs 4.9%). Over the past eight quarters, VICOR CORP's revenue compounded faster (14.7% CAGR vs 0.8%).
Vicor Corporation is a manufacturer of power modules headquartered in Andover, Massachusetts.
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.
VICR vs VREX — Head-to-Head
Income Statement — Q1 2026 vs Q1 2026
| Metric | | |
|---|---|---|
| Revenue | $113.0M | $209.6M |
| Net Profit | $20.7M | $2.3M |
| Gross Margin | — | 33.3% |
| Operating Margin | — | 7.3% |
| Net Margin | 18.3% | 1.1% |
| Revenue YoY | 20.2% | 4.9% |
| Net Profit YoY | 713.9% | 866.7% |
| EPS (diluted) | $0.44 | $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 | $113.0M | $209.6M | ||
| Q4 25 | $107.3M | $228.9M | ||
| Q3 25 | $110.4M | $203.0M | ||
| Q2 25 | $96.0M | $212.9M | ||
| Q1 25 | $94.0M | $199.8M | ||
| Q4 24 | $96.2M | — | ||
| Q3 24 | $93.2M | $205.7M | ||
| Q2 24 | $85.9M | $209.1M |
| Q1 26 | $20.7M | $2.3M | ||
| Q4 25 | $46.5M | $12.2M | ||
| Q3 25 | $28.3M | $-89.1M | ||
| Q2 25 | $41.2M | $6.9M | ||
| Q1 25 | $2.5M | $-300.0K | ||
| Q4 24 | $10.2M | — | ||
| Q3 24 | $11.6M | $-51.1M | ||
| Q2 24 | $-1.2M | $1.4M |
| Q1 26 | — | 33.3% | ||
| Q4 25 | 55.4% | 34.0% | ||
| Q3 25 | 57.5% | 33.3% | ||
| Q2 25 | 95.9% | 36.0% | ||
| Q1 25 | 47.2% | 34.3% | ||
| Q4 24 | 52.4% | — | ||
| Q3 24 | 49.1% | 32.6% | ||
| Q2 24 | 49.8% | 32.0% |
| Q1 26 | — | 7.3% | ||
| Q4 25 | 14.6% | 8.6% | ||
| Q3 25 | 18.9% | -39.8% | ||
| Q2 25 | 47.3% | 10.4% | ||
| Q1 25 | -0.2% | 5.6% | ||
| Q4 24 | 9.6% | — | ||
| Q3 24 | 5.8% | 5.3% | ||
| Q2 24 | 0.2% | 4.4% |
| Q1 26 | 18.3% | 1.1% | ||
| Q4 25 | 43.4% | 5.3% | ||
| Q3 25 | 25.6% | -43.9% | ||
| Q2 25 | 42.9% | 3.2% | ||
| Q1 25 | 2.7% | -0.2% | ||
| Q4 24 | 10.7% | — | ||
| Q3 24 | 12.4% | -24.8% | ||
| Q2 24 | -1.4% | 0.7% |
| Q1 26 | $0.44 | $0.05 | ||
| Q4 25 | $1.01 | $0.29 | ||
| Q3 25 | $0.63 | $-2.15 | ||
| Q2 25 | $0.91 | $0.17 | ||
| Q1 25 | $0.06 | $-0.01 | ||
| Q4 24 | $0.24 | — | ||
| Q3 24 | $0.26 | $-1.25 | ||
| Q2 24 | $-0.03 | $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 | $404.2M | $125.6M |
| Total DebtLower is stronger | — | $367.6M |
| Stockholders' EquityBook value | $754.1M | $476.9M |
| Total Assets | $804.9M | $1.1B |
| Debt / EquityLower = less leverage | — | 0.77× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $404.2M | $125.6M | ||
| Q4 25 | $402.8M | $155.1M | ||
| Q3 25 | $362.4M | $152.6M | ||
| Q2 25 | $338.5M | $223.0M | ||
| Q1 25 | $296.1M | $212.6M | ||
| Q4 24 | $277.3M | — | ||
| Q3 24 | $267.6M | $200.5M | ||
| Q2 24 | $251.9M | $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 | $754.1M | $476.9M | ||
| Q4 25 | $711.6M | $472.6M | ||
| Q3 25 | $630.1M | $455.3M | ||
| Q2 25 | $608.6M | $549.7M | ||
| Q1 25 | $580.3M | $540.2M | ||
| Q4 24 | $570.1M | — | ||
| Q3 24 | $554.6M | $529.1M | ||
| Q2 24 | $537.2M | $581.2M |
| Q1 26 | $804.9M | $1.1B | ||
| Q4 25 | $785.8M | $1.1B | ||
| Q3 25 | $710.2M | $1.1B | ||
| Q2 25 | $693.5M | $1.4B | ||
| Q1 25 | $665.0M | $1.3B | ||
| Q4 24 | $641.1M | — | ||
| Q3 24 | $632.8M | $1.2B | ||
| Q2 24 | $613.2M | $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 | — | $-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 | — | $-16.1M | ||
| Q4 25 | $15.7M | $7.9M | ||
| Q3 25 | $38.5M | $7.7M | ||
| Q2 25 | $65.2M | $16.6M | ||
| Q1 25 | $20.1M | $9.5M | ||
| Q4 24 | $10.1M | — | ||
| Q3 24 | $22.6M | $25.9M | ||
| Q2 24 | $15.6M | $8.0M |
| Q1 26 | — | $-26.8M | ||
| Q4 25 | $10.2M | $2.3M | ||
| Q3 25 | $34.5M | $1.4M | ||
| Q2 25 | $59.0M | $9.8M | ||
| Q1 25 | $15.6M | $5.3M | ||
| Q4 24 | $8.4M | — | ||
| Q3 24 | $14.1M | $19.9M | ||
| Q2 24 | $9.4M | $3.3M |
| Q1 26 | — | -12.8% | ||
| Q4 25 | 9.5% | 1.0% | ||
| Q3 25 | 31.2% | 0.7% | ||
| Q2 25 | 61.5% | 4.6% | ||
| Q1 25 | 16.6% | 2.7% | ||
| Q4 24 | 8.7% | — | ||
| Q3 24 | 15.2% | 9.7% | ||
| Q2 24 | 11.0% | 1.6% |
| Q1 26 | — | 5.1% | ||
| Q4 25 | 5.2% | 2.4% | ||
| Q3 25 | 3.6% | 3.1% | ||
| Q2 25 | 6.5% | 3.2% | ||
| Q1 25 | 4.8% | 2.1% | ||
| Q4 24 | 1.8% | — | ||
| Q3 24 | 9.1% | 2.9% | ||
| Q2 24 | 7.2% | 2.2% |
| Q1 26 | — | -7.00× | ||
| Q4 25 | 0.34× | 0.65× | ||
| Q3 25 | 1.36× | — | ||
| Q2 25 | 1.58× | 2.41× | ||
| Q1 25 | 7.93× | — | ||
| Q4 24 | 0.99× | — | ||
| Q3 24 | 1.95× | — | ||
| Q2 24 | — | 5.71× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
VICR
| Product revenue | $98.0M | 87% |
| Royalty revenue | $15.0M | 13% |
VREX
| Medical Segment | $144.8M | 69% |
| Industrial Segment | $64.8M | 31% |
