vs
Side-by-side financial comparison of Varex Imaging Corp (VREX) and Walker & Dunlop, Inc. (WD). Click either name above to swap in a different company.
Walker & Dunlop, Inc. is the larger business by last-quarter revenue ($340.0M vs $209.6M, roughly 1.6× Varex Imaging Corp). Varex Imaging Corp runs the higher net margin — 1.1% vs -12.9%, a 14.0% gap on every dollar of revenue. On growth, Varex Imaging Corp posted the faster year-over-year revenue change (4.9% vs -0.4%). Varex Imaging Corp produced more free cash flow last quarter ($-26.8M vs $-680.1M). Over the past eight quarters, Walker & Dunlop, Inc.'s revenue compounded faster (22.1% CAGR vs 0.8%).
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.
Walker & Dunlop, Inc. is one of the largest commercial real estate finance and advisory services firms in the United States and internationally.
VREX vs WD — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $209.6M | $340.0M |
| Net Profit | $2.3M | $-13.9M |
| Gross Margin | 33.3% | — |
| Operating Margin | 7.3% | -17.2% |
| Net Margin | 1.1% | -12.9% |
| Revenue YoY | 4.9% | -0.4% |
| Net Profit YoY | 866.7% | -131.0% |
| EPS (diluted) | $0.05 | $-0.41 |
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 | $228.9M | $340.0M | ||
| Q3 25 | $203.0M | $337.7M | ||
| Q2 25 | $212.9M | $319.2M | ||
| Q1 25 | $199.8M | $237.4M | ||
| Q4 24 | — | $341.5M | ||
| Q3 24 | $205.7M | $292.3M | ||
| Q2 24 | $209.1M | $270.7M |
| Q1 26 | $2.3M | — | ||
| Q4 25 | $12.2M | $-13.9M | ||
| Q3 25 | $-89.1M | $33.5M | ||
| Q2 25 | $6.9M | $34.0M | ||
| Q1 25 | $-300.0K | $2.8M | ||
| Q4 24 | — | $44.8M | ||
| Q3 24 | $-51.1M | $28.8M | ||
| Q2 24 | $1.4M | $22.7M |
| 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% | -17.2% | ||
| Q3 25 | -39.8% | 13.6% | ||
| Q2 25 | 10.4% | 14.5% | ||
| Q1 25 | 5.6% | 2.2% | ||
| Q4 24 | — | 15.3% | ||
| Q3 24 | 5.3% | 12.8% | ||
| Q2 24 | 4.4% | 10.4% |
| Q1 26 | 1.1% | — | ||
| Q4 25 | 5.3% | -12.9% | ||
| Q3 25 | -43.9% | 9.9% | ||
| Q2 25 | 3.2% | 10.6% | ||
| Q1 25 | -0.2% | 1.2% | ||
| Q4 24 | — | 13.1% | ||
| Q3 24 | -24.8% | 9.9% | ||
| Q2 24 | 0.7% | 8.4% |
| Q1 26 | $0.05 | — | ||
| Q4 25 | $0.29 | $-0.41 | ||
| Q3 25 | $-2.15 | $0.98 | ||
| Q2 25 | $0.17 | $0.99 | ||
| Q1 25 | $-0.01 | $0.08 | ||
| Q4 24 | — | $1.32 | ||
| Q3 24 | $-1.25 | $0.85 | ||
| Q2 24 | $0.03 | $0.67 |
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 | $299.3M |
| Total DebtLower is stronger | $367.6M | — |
| Stockholders' EquityBook value | $476.9M | $1.7B |
| Total Assets | $1.1B | $5.1B |
| Debt / EquityLower = less leverage | 0.77× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $125.6M | — | ||
| Q4 25 | $155.1M | $299.3M | ||
| Q3 25 | $152.6M | $274.8M | ||
| Q2 25 | $223.0M | $233.7M | ||
| Q1 25 | $212.6M | $181.0M | ||
| Q4 24 | — | $279.3M | ||
| Q3 24 | $200.5M | $179.8M | ||
| Q2 24 | $190.0M | $208.1M |
| 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 | $472.6M | $1.7B | ||
| Q3 25 | $455.3M | $1.8B | ||
| Q2 25 | $549.7M | $1.8B | ||
| Q1 25 | $540.2M | $1.7B | ||
| Q4 24 | — | $1.7B | ||
| Q3 24 | $529.1M | $1.7B | ||
| Q2 24 | $581.2M | $1.7B |
| Q1 26 | $1.1B | — | ||
| Q4 25 | $1.1B | $5.1B | ||
| Q3 25 | $1.1B | $5.8B | ||
| Q2 25 | $1.4B | $4.7B | ||
| Q1 25 | $1.3B | $4.5B | ||
| Q4 24 | — | $4.4B | ||
| Q3 24 | $1.2B | $4.6B | ||
| Q2 24 | $1.3B | $4.2B |
| 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 | $-664.3M |
| Free Cash FlowOCF − Capex | $-26.8M | $-680.1M |
| FCF MarginFCF / Revenue | -12.8% | -200.0% |
| Capex IntensityCapex / Revenue | 5.1% | 4.6% |
| Cash ConversionOCF / Net Profit | -7.00× | — |
| TTM Free Cash FlowTrailing 4 quarters | $-13.3M | $-2.2B |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $-16.1M | — | ||
| Q4 25 | $7.9M | $-664.3M | ||
| Q3 25 | $7.7M | $-948.1M | ||
| Q2 25 | $16.6M | $-238.5M | ||
| Q1 25 | $9.5M | $-281.1M | ||
| Q4 24 | — | $129.4M | ||
| Q3 24 | $25.9M | $-202.0M | ||
| Q2 24 | $8.0M | $-237.8M |
| Q1 26 | $-26.8M | — | ||
| Q4 25 | $2.3M | $-680.1M | ||
| Q3 25 | $1.4M | $-950.4M | ||
| Q2 25 | $9.8M | $-241.0M | ||
| Q1 25 | $5.3M | $-284.7M | ||
| Q4 24 | — | $116.4M | ||
| Q3 24 | $19.9M | $-204.0M | ||
| Q2 24 | $3.3M | $-241.7M |
| Q1 26 | -12.8% | — | ||
| Q4 25 | 1.0% | -200.0% | ||
| Q3 25 | 0.7% | -281.5% | ||
| Q2 25 | 4.6% | -75.5% | ||
| Q1 25 | 2.7% | -120.0% | ||
| Q4 24 | — | 34.1% | ||
| Q3 24 | 9.7% | -69.8% | ||
| Q2 24 | 1.6% | -89.3% |
| Q1 26 | 5.1% | — | ||
| Q4 25 | 2.4% | 4.6% | ||
| Q3 25 | 3.1% | 0.7% | ||
| Q2 25 | 3.2% | 0.8% | ||
| Q1 25 | 2.1% | 1.5% | ||
| Q4 24 | — | 3.8% | ||
| Q3 24 | 2.9% | 0.7% | ||
| Q2 24 | 2.2% | 1.4% |
| Q1 26 | -7.00× | — | ||
| Q4 25 | 0.65× | — | ||
| Q3 25 | — | -28.34× | ||
| Q2 25 | 2.41× | -7.02× | ||
| Q1 25 | — | -102.07× | ||
| Q4 24 | — | 2.89× | ||
| Q3 24 | — | -7.01× | ||
| Q2 24 | 5.71× | -10.49× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
VREX
| Medical Segment | $144.8M | 69% |
| Industrial Segment | $64.8M | 31% |
WD
Segment breakdown not available.
