RTGN vs VREX vs BFLY Stock Comparison

RetinalGenix Technologies, Varex Imaging and Butterfly Network Prices as of Oct 26, 2026 Peers: Industry group
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VREX Varex Imaging Corp
$18.46 +0.1% 1M +54.9% 1Y
Market cap
$776.75M
P/E
35.1x
Revenue (TTM)
$865.00M
Div. yield
–
Diagnostic Equipment Healthcare
2 wins
BFLY Butterfly Network, Inc.
$7.40 -21.2% 1M +236.4% 1Y
Market cap
$2.03B
P/E
–
Revenue (TTM)
$112.15M
Div. yield
–
Diagnostic Equipment Healthcare
4 wins

Head to Head

7 decided of 12

Butterfly Network leads on 4 of the 12 questions below (Butterfly Network 4, Varex Imaging 2, RetinalGenix Technologies 1). Which ones matter depends on what you are buying for; a cheap multiple and slow growth often come together.

QuestionRTGNVREXBFLYLeader
Larger companyMarket capitalisation $75.19M $776.75M $2.03B BFLY
Cheaper on earningsLower P/E, profitable companies only -35.9x 35.1x -27.1x –
Cheaper on forward earningsLower price / next fiscal year consensus EPS — 21.2x — –
Faster revenue growthRevenue growth, trailing twelve months — +5.3% +28.1% BFLY
More profitableNet margin, trailing twelve months — 2.6% -66.7% VREX
Better return on capitalReturn on invested capital — 6.9% — –
Less leveragedLower net debt / EBITDA — 2.5x — –
Higher dividend yieldTrailing dividend yield — 0.00% 0.00% –
Better 1-year returnPrice return, last 12 months +2.0% +54.9% +236.4% BFLY
Better 5-year returnAnnualised price return, 5 years — -7.3%/yr -6.3%/yr BFLY
Less volatileAnnualised volatility, 1 year 25.5% 57.5% 114.8% RTGN
Higher overall scoreMean of the five percentile scores vs peers 37/100 51/100 45/100 VREX

Percentile Scorecard

RTGNVREXBFLY

Each axis is the mean percentile of its metrics against the company's industry group. 100 is the best in the group, 50 the middle.

Scores by Axis

AxisRTGNVREXBFLY
Valuation 62 #86 of 227 87 #31 of 227 28 #164 of 227
Growth 56 #96 of 219 23 #168 of 219 68 #71 of 219
Profitability – 66 #70 of 206 32 #140 of 206
Financial Health 0 #237 of 238 42 #139 of 238 61 #94 of 238
Shareholder Returns 28 #97 of 134 35 #88 of 134 37 #85 of 134
Overall 37 51 45
  • RTGN ranked among 247 companies in Medical Devices and Diagnostics
  • VREX ranked among 247 companies in Medical Devices and Diagnostics
  • BFLY ranked among 247 companies in Medical Devices and Diagnostics

Price Performance

Price return, split-adjusted, before dividends. Click a name to hide or show it.

Returns

PeriodRTGNVREXBFLYSPY
1 month 0.0%+0.1%-21.2% -0.2%
3 months -0.2%+65.9%+3.1% +3.9%
6 months +24.7%+52.9%+43.4% +8.2%
Year to date +24.7%+58.5%+94.7% +12.9%
1 year +2.0%+54.9%+236.4% +12.3%
3 years -11.1%+6.7%+836.7% +87.4%
3 years, per year -3.9%+2.2%+110.9% +23.3%
5 years —-31.4%-27.6% +67.9%
5 years, per year —-7.3%-6.3% +10.9%

Risk

MeasureRTGNVREXBFLYSPY
Volatility, 1Y 25.5%57.5%114.8% 12.7%
Downside volatility, 1Y —50.0%91.7% 12.7%
Beta vs S&P 500, 1Y -0.041.113.00 1.00
Return / volatility, 1Y 0.080.952.06 0.97
Max drawdown, 5Y -92.0%-78.8%-93.4% -25.4%
From 52-week high -0.2%-0.6%-25.6% -1.2%
52-week high $4.00$18.58$9.94 $779.14
52-week low $3.20$9.32$1.97 $631.97

Valuation History

Weekly multiples on trailing twelve-month fundamentals. Negative or extreme readings (a loss year, a collapsed denominator) are left out so the chart stays readable.

MultipleRTGNVREXBFLY
P/E now vs peer median -35.9xmedian 29.6x 35.2xmedian 29.6x -25.9xmedian 29.6x
P/S now vs peer median —median 2.9x 0.9xmedian 2.9x 15.7xmedian 2.9x
EV/EBITDA now vs peer median —median 17.4x 10.2xmedian 17.4x -22.6xmedian 17.4x
P/FCF now vs peer median -157.3xmedian 22.3x -38.5xmedian 22.3x -62.8xmedian 22.3x
P/B now vs peer median -28.5xmedian 2.3x 1.5xmedian 2.3x 9.3xmedian 2.3x
PEG now vs peer median -1.63median 1.04 -9.17median 1.04 -0.96median 1.04

Financial History

Reported figures by fiscal period, placed on the calendar year (or quarter) each period ended in, so companies with different fiscal years line up.

Trailing twelve monthsRTGNVREXBFLY
Revenue – $865.00M $112.15M
Gross profit – $296.90M $59.04M
Operating income – $72.20M -$79.38M
Net income -$2.09M $22.40M -$74.85M
Free cash flow -$477.94K -$20.20M -$28.04M
R&D $238.87K $91.40M $38.10M
EPS (diluted) $-0.11 $0.52 $-0.29
Cash & equivalents $27.23K $99.20M $124.66M
Total debt $245.00K $347.10M –
Shares (diluted) 18.81M 42.60M 262.10M
Enterprise value $75.14M $308.55M $1.47B

All Metrics

58 metrics · best in bold

Bold marks the best reading: the lowest positive value for multiples, leverage and payout, the highest for everything else. The bar under each value is its percentile against that company's own peers. Hover a value for its rank and the peer median.

Valuation

12 metrics
MetricRTGNVREXBFLY
P/E -35.9x 35.2x -25.9x
P/FCF -157.3x -38.5x -62.8x
P/Operating cash flow -157.3x 68.9x -73.3x
P/S – 0.9x 15.7x
P/B -28.5x 1.5x 9.3x
P/Tangible book -28.5x 1.6x 9.6x
EV/EBITDA – 10.2x -22.6x
EV/EBIT – 14.2x -20.6x
EV/Revenue – 1.2x 14.6x
EV/FCF -157.4x -50.8x -58.4x
EV/Operating cash flow -157.4x 90.8x -68.1x
PEG (3Y EPS CAGR) -1.63 -9.17 -0.96

Growth

14 metrics
MetricRTGNVREXBFLY
Revenue growth (1Y) – 5.3% 28.1%
Revenue CAGR (3Y) – -1.2% 15.6%
Gross profit growth (1Y) – 6.1% 8.8%
Gross profit CAGR (3Y) – 1.2% 13.3%
Operating income growth (1Y) – 297.8% -14.8%
Operating income CAGR (3Y) – -2.3% 21.1%
Net income growth (1Y) 24.0% 116.7% -19.1%
Net income CAGR (3Y) 19.7% -9.2% 20.8%
EPS growth (1Y) 25.9% 116.1% -12.9%
EPS CAGR (3Y) 22.0% -3.8% 27.0%
Operating cash flow growth (1Y) 37.1% -81.1% 19.6%
Operating cash flow CAGR (3Y) -17.6% -47.6% 44.5%
Free cash flow growth (1Y) 37.1% -155.5% 12.2%
Free cash flow CAGR (3Y) -17.6% -33.5% 42.8%

Profitability

14 metrics
MetricRTGNVREXBFLY
Gross margin – 34.3% 52.6%
EBITDA margin – 11.7% -64.4%
Operating margin – 8.3% -70.8%
Pretax margin – 3.2% -66.7%
Net margin – 2.6% -66.7%
FCF margin – -2.3% -25.0%
Operating cash flow margin – 1.3% -21.4%
Return on equity – 4.5% -39.3%
Return on assets – 2.1% -26.3%
Return on invested capital – 6.9% –
Return on capital employed – 8.0% -35.1%
Asset turnover – 0.8x 0.4x
Cash conversion (OCF / net income) 0.2x 0.5x 0.3x
Stock comp / revenue – 1.7% 21.3%

Financial Health

11 metrics
MetricRTGNVREXBFLY
Debt / assets 152.1% 31.6% –
Debt / equity 0.0x 0.7x –
Net debt / EBITDA – 2.5x –
Debt / FCF -0.1x -17.2x –
Liabilities / assets 8,297% 53.6% 33.1%
Equity / assets -8,197% 46.4% 66.9%
Interest coverage – 1.9x -59.4x
Current ratio 0.0x 3.4x 4.1x
Quick ratio 0.0x 1.3x 2.7x
Cash ratio 0.0x 0.5x 2.1x
Altman Z-score – 2.29 7.05

Shareholder Returns

7 metrics
MetricRTGNVREXBFLY
Dividend yield – – –
Net buyback yield -0.8% -0.4% -0.4%
Shareholder yield -0.8% -0.4% -0.4%
Payout ratio (earnings) – – –
Payout ratio (FCF) – – –
Dividend growth (1Y) – – –
Dividend CAGR (3Y) – – –

Analyst Estimates

Solid lines are reported fiscal-year results; dashed lines are the consensus for the years ahead. Hover a year for the analysts' high and low, and how each result compared with its estimate.

ConsensusRTGNVREXBFLY
Forward P/E – 21.2xFY2026 –
EPS, next fiscal year – $0.87FY2026 $-0.10FY2026
EPS growth, next FY – -3.3%FY2026 –
EPS growth, the year after – +14.9% –
Revenue, next fiscal year – $829.68MFY2026 $114.50MFY2026
Revenue growth, next FY – -1.8%FY2026 +17.3%FY2026
Revenue growth, the year after – +2.3% +26.0%

Institutional Ownership

13F filings, quarter ended Jun 30, 2026
HoldersRTGNVREXBFLY
Held by institutions – 95.2% 59.9%
Institutions holding – 186 245
Change in shares held, QoQ – -2.7% +13.9%
Institutions buying – 98 143
Institutions selling – 58 59
Buyers to sellers – 1.69 2.42

Return Correlation

Daily returns, last 12 months

1.00 means two stocks move in lockstep, 0 that they move independently. Pairs below about 0.5 diversify each other.

RTGNVREXBFLY
RTGN 1.00 0.00 -0.06
VREX 0.00 1.00 0.19
BFLY -0.06 0.19 1.00

Add a Peer

Largest companies in the same industry

Related Comparisons

Frequently Asked Questions

Which is bigger, RTGN, VREX and BFLY?

Butterfly Network (BFLY) is the largest by market capitalisation: RetinalGenix Technologies (RTGN) $75.19M, Varex Imaging (VREX) $776.75M, Butterfly Network (BFLY) $2.03B.

Which company is growing faster?

Butterfly Network (BFLY) grew revenue fastest over the trailing twelve months: Varex Imaging (VREX) +5.3%, Butterfly Network (BFLY) +28.1%.

Which company is more profitable?

Varex Imaging (VREX) has the highest net margin (Varex Imaging (VREX) 2.6%, Butterfly Network (BFLY) -66.7%).

Which stock has performed better?

Over the past year Butterfly Network (BFLY) returned the most: RetinalGenix Technologies (RTGN) +2.0%, Varex Imaging (VREX) +54.9%, Butterfly Network (BFLY) +236.4%. Over five years, Butterfly Network (BFLY) compounded fastest (Varex Imaging (VREX) -7.3%/yr, Butterfly Network (BFLY) -6.3%/yr). Returns are price only, before dividends.

Which stock is riskier?

By one-year price volatility, RetinalGenix Technologies (RTGN) has been the steadiest (RetinalGenix Technologies (RTGN) 25.5%, Varex Imaging (VREX) 57.5%, Butterfly Network (BFLY) 114.8%). Volatility measures how widely the price swings, not the risk of the business.

Which is the better stock, RTGN, VREX and BFLY?

There is no single answer; it depends on what you are buying for. On the 12 head-to-head measures on this page, Butterfly Network (BFLY) leads on 4. Business Quant does not give investment advice; use the comparison as a starting point for your own research.

Data from SEC filings, exchange prices and consensus estimates, via Business Quant. Percentile scores compare each company with its own peer group, so two companies' scores are each relative to different peers unless you rank against the whole market. Price returns exclude dividends. Nothing on this page is investment advice.