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Varian Medical Systems

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    • HealthcareManufacturing & Industrialimagingmedical devicesmedtech

    Varian Medical Systems is the manufacturer of medical devices and software for treating cancer and other medical conditions with radiotherapy, radiosurgery, proton therapy, and brachytherapy. The Company supplies informatics software for managing comprehensive cancer clinics, radiotherapy centers, and medical oncology practices. Varian is a premier supplier of tubes and digital detectors for X-ray imaging in medical, scientific, and industrial applications and also supplies X-ray imaging products for cargo screening and industrial inspection. 

    Revenue(FY, 2017)
    $2.7 B
    Market capitalization(2018-10-15)
    $9.6 B
    Backlog(Q3, 2018)
    $2.9 B
    TypePublic
    HQPalo Alto, US
    Founded1948
    Size (employees)6,600 (est)
    Websitevarian.com
    Varian Medical Systems was founded in 1948 and is headquartered in Palo Alto, US
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    Key People/Management at Varian Medical Systems

    Dow R. Wilson

    Dow R. Wilson

    President and Chief Executive Officer (CEO)
    Kolleen Kennedy

    Kolleen Kennedy

    President, Oncology Systems and Corporate Executive Vice President
    Gary Bischoping

    Gary Bischoping

    Senior Vice President, Finance & Chief Finance Officer
    Patrick Joda

    Patrick Joda

    Senior Vice President, Global Operations
    Moataz Karmalawy

    Moataz Karmalawy

    Vice President and General Manager, Worldwide Particle Therapy
    Deepak Dee Khuntia

    Deepak Dee Khuntia

    Senior Vice President and Chief Medical Officer
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    Varian Medical Systems Office Locations

    Varian Medical Systems has offices in Machelen, Hydra, Tokyo, Daxing Qu and in 30 other locations
    Palo Alto, US (HQ)
    3100 Hansen Way
    Las Vegas, US
    6883 Spencer St
    Milpitas, US
    660 N McCarthy Blvd
    Hydra, DZ
    18A Cité des PTT
    Belrose, AU
    3 13A Narabang Way
    Brunn am Gebirge, AT
    Liebermannstraße A01 404
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    Varian Medical Systems Financials and Metrics

    Varian Medical Systems Revenue

    Embed Graph
    Varian Medical Systems's revenue was reported to be $2.67 b in FY, 2017 which is a 17.1% decrease from the previous period.
    USD

    Revenue (Q3, 2018)

    		709.1m

    Gross profit (Q3, 2018)

    		313.6m

    Gross profit margin (Q3, 2018), %

    		44.2%

    Net income (Q3, 2018)

    		72.5m

    EBIT (Q3, 2018)

    		91.5m

    Market capitalization (15-Oct-2018)

    		9.6b

    Closing stock price (15-Oct-2018)

    		105.0

    Cash (29-Jun-2018)

    		536.0m

    EV

    		9.1b
    Varian Medical Systems's current market capitalization is $9.6 b.
    Annual
    USDFY, 2014FY, 2015FY, 2016FY, 2017

    Revenue

    		3.0b3.1b3.2b2.7b

    Revenue growth, %

    		4%2%4%(17%)

    Cost of goods sold

    		1.7b1.8b1.9b1.5b

    Gross profit

    		1.3b1.3b1.4b1.2b
    Quarterly
    USDQ1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017Q1, 2018Q2, 2018Q3, 2018

    Revenue

    		737.9m759.4m784.0m757.1m758.8m789.4m763.3m655.0m662.4m678.5m729.9m709.1m

    Cost of goods sold

    		410.8m436.9m469.0m447.4m441.5m443.0m428.8m379.7m369.1m375.7m411.4m395.5m

    Gross profit

    		327.0m322.5m315.0m309.7m317.2m346.4m334.5m275.3m293.3m302.8m318.5m313.6m

    Gross profit Margin, %

    		44%42%40%41%42%44%44%42%44%45%44%44%
    show all
    Annual
    USDFY, 2014FY, 2015FY, 2016FY, 2017

    Cash

    		849.3m845.5m843.5m716.2m

    Accounts Receivable

    		731.9m770.9m891.8m823.5m

    Prepaid Expenses

    		148.6m164.0m145.7m199.8m

    Inventories

    		572.3m612.6m639.7m439.7m
    Quarterly
    USDQ1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017Q1, 2018Q2, 2018Q3, 2018

    Cash

    		904.4m862.2m951.4m953.4m961.1m835.9m814.7m705.5m658.2m822.6m739.9m536.0m

    Accounts Receivable

    		663.0m707.9m673.7m768.5m852.6m840.4m801.7m761.5m747.5m880.1m936.7m933.6m

    Prepaid Expenses

    		164.2m177.8m187.1m174.7m177.3m187.8m143.3m206.9m173.8m206.2m226.4m249.8m

    Inventories

    		630.9m651.8m640.1m613.1m653.3m682.5m661.6m453.7m460.2m431.4m433.8m469.2m
    show all
    Annual
    USDFY, 2014FY, 2015FY, 2016FY, 2017

    Net Income

    		403.7m412.0m402.7m250.3m

    Depreciation and Amortization

    		62.5m68.5m79.8m76.9m

    Inventories

    		(43.3m)(41.6m)(27.7m)(100.0k)

    Accounts Payable

    		2.0m6.5m9.7m5.5m
    Quarterly
    USDQ1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017Q1, 2018Q2, 2018Q3, 2018

    Net Income

    		93.3m199.3m312.9m89.0m186.0m284.9m21.0m77.0m167.6m(112.2m)(39.0m)33.5m

    Depreciation and Amortization

    		17.1m33.4m50.0m18.5m37.9m56.4m22.3m41.0m58.5m19.1m35.8m53.5m

    Inventories

    		(62.1m)(93.0m)(77.3m)(4.0m)(39.7m)(72.1m)(28.2m)(20.3m)(23.6m)(11.7m)(10.9m)(48.5m)

    Accounts Payable

    		(37.0m)(12.8m)281.0k(14.2m)(13.6m)(5.1m)(20.7m)(9.9m)(600.0k)(10.3m)900.0k27.8m
    show all
    USDY, 2018

    EV/EBIT

    		99.3 x

    EV/CFO

    		26.2 x

    Financial Leverage

    		2.1 x
    Show all financial metrics

    Varian Medical Systems Operating Metrics

    Varian Medical Systems's Backlog was reported to be $2.9b in Q3, 2018.
    FY, 2014Q1, 2015Q2, 2015Q3, 2015Q4, 2015FY, 2015Q1, 2016Q2, 2016Q3, 2016Q4, 2016FY, 2016Q1, 2017Jan, 2017Q2, 2017Q3, 2017Q4, 2017FY, 2017Q1, 2018Q2, 2018Q3, 2018

    Backlog

    		$3.20 b$3.12 b$3.09 b$3.14 b$3.48 b$3.34 b$3.28 b$3.06 b$3.45 b$3.39 b$3.14 b$3.26 b$3.52 b$3.02 b$2.93 b$2.95 b

    Order Volume

    		$3.53 b$725.80 m$781.40 m$888 m$1.22 b$1.22 b$672 m$758.40 m$727.30 m$1.10 b$3.40 b$721.70 m$675.70 m$830.30 m$1.04 b$3.14 b$666.10 m$666 m$767.10 m

    Linear Accelerators

    		7.50 k7.83 k

    Proton Therapy Rooms Offered

    		50
    Show all operating metrics

    Varian Medical Systems Acquisitions / Subsidiaries

    Acquired CompanyDateDeal Size
    PerkinElmer's Medical Imaging BusinessDecember 22, 2016
    Candela's radiotherapy businessSeptember 07, 2016
    TrueBeam SystemsMay 23, 2016
    Claymount TechnologiesJuly 30, 2015$55 m
    MeVis Medical Solutions AGApril 21, 2015
    TranspireJuly 31, 2014
    Velocity Medical SolutionsApril 04, 2014
    Applied Computational TechnologiesDecember 06, 2013
    InfimedMarch 05, 2012
    Calypso MedicalSeptember 19, 2011
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    Varian Medical Systems Revenue Breakdown

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    Varian Medical Systems revenue breakdown by business segment: 6.8% from Varian Particle Therapy and 93.2% from Oncology Systems

    Varian Medical Systems revenue breakdown by geographic segment: 53.6% from International and 46.4% from United States

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    Competitors

    Atrion
    Healthcare - Public
    Halma
    Healthcare - Public
    RaySearch Laboratories
    Healthcare - Public
    Mevion Medical Systems
    Healthcare - Private
    Ion Beam Applications
    Healthcare - Public
    Eckert & Ziegler
    Healthcare - Public
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    Varian Medical Systems Online and Social Media Presence

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    Varian Medical Systems News and Updates

    August 23, 2018

    Global Stereotactic Surgery Devices Market Size, Share & Trends Analysis Report, 2018-2025 with Siemens Ag, Elekta AB, Varian Medical Systems, IBA, and Accuray Dominating

    DUBLIN, Aug. 23, 2018 /PRNewswire/ -- The "Stereotactic Surgery Devices Market Size, Share & Trends Analysis Report By Type (Gamma Knife, Linear Accelerator, CyberKnife, Proton Beam Therapy), By Region, And Segment Forecasts, 2018 - 2025" report has been added to ResearchAndMarkets.com's...
    July 25, 2018

    Varian Medical Systems (VAR) Q3 2018 Results - Earnings Call Transcript

    July 25, 2018

    Varian Medical Systems, Inc. 2018 Q3 - Results - Earnings Call Slides

    April 25, 2018

    Varian Medical Systems (VAR) Q2 2018 Results - Earnings Call Transcript

    April 25, 2018

    Varian Medical Systems, Inc. 2018 Q2 - Results - Earnings Call Slides

    April 06, 2018

    Hold On To Varian Medical Systems In 2018

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    Varian Medical Systems Blogs

    October 12, 2018

    Varian Expands Cancer Care Portfolio with Noona Healthcare Acquisition

    October 01, 2018

    Sterling Cancer Hospital Treats First Patient in India on Varian Halcyon System

    September 20, 2018

    Varian Shares Vision of a World Without Fear of Cancer

    Company publishes "The Future of Cancer Care: Moving from Promise to Reality"
    September 07, 2018

    Varian Signs Partnership Agreement with Mediheal to Support Cancer Care in Kenya

    September 04, 2018

    Varian Installs Cyclotron for ProBeam Compact Proton Therapy System at Treatment Center in Florida

    Varian Medical Systems Company Life and Culture

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