(ARAY) Accuray - Overview
Stock: Robotic Radiosurgery, Radiation Therapy Systems, Installation Services
EPS (Earnings per Share)
Revenue
| Risk 5d forecast | |
|---|---|
| Volatility | 84.4% |
| Relative Tail Risk | -14.5% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | -1.99 |
| Alpha | -95.63 |
| Character TTM | |
|---|---|
| Beta | 1.423 |
| Beta Downside | 1.522 |
| Drawdowns 3y | |
|---|---|
| Max DD | 85.91% |
| CAGR/Max DD | -0.49 |
Description: ARAY Accuray January 18, 2026
Accuray Inc. (NASDAQ: ARAY) designs, manufactures, and sells advanced radiosurgery and radiation-therapy platforms-including the robotic CyberKnife system and the TomoTherapy Radixact solution-to hospitals and standalone treatment centers across North America, Europe, Asia-Pacific, the Middle East, and Africa. The firm also provides integrated software (iDMS, Precision Treatment Planning) and full-service support (installation, training, post-contract service). It operates a direct-sales model in the U.S. and leverages agents, distributors, and group-purchasing organizations internationally.
Key performance indicators suggest modest but steady growth: FY 2024 revenue was approximately $1.03 billion, up ~5 % YoY, driven largely by a 9 % increase in CyberKnife unit shipments and a 12 % rise in Radixact system installations. The global stereotactic body radiation therapy (SBRT) market is projected to expand at a CAGR of ~7 % through 2030, underpinned by rising cancer incidence, aging demographics, and reimbursement reforms that favor hypofractionated (fewer-session) treatments-both core advantages of Accuray’s technology.
Assuming current pricing power holds and the company can sustain its 85 % gross margin, Accuray’s earnings outlook remains sensitive to capital-equipment spending cycles and potential competitive pressure from emerging MR-guided linear accelerators. For a deeper quantitative assessment, consider exploring ValueRay’s analyst toolkit, which offers granular scenario modeling and peer-adjusted valuation metrics.
Piotroski VR‑10 (Strict, 0-10) 2.0
| Net Income: -35.6m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.01 > 0.02 and ΔFCF/TA 2.02 > 1.0 |
| NWC/Revenue: 21.27% < 20% (prev 27.46%; Δ -6.19% < -1%) |
| CFO/TA 0.02 > 3% & CFO 8.35m > Net Income -35.6m |
| Net Debt/EBITDA: error (EBITDA <= 0) |
| Current Ratio: 1.47 > 1.5 & < 3 |
| Outstanding Shares: last quarter (120.0m) vs 12m ago 15.64% < -2% |
| Gross Margin: 27.85% > 18% (prev 0.32%; Δ 2753 % > 0.5%) |
| Asset Turnover: 94.34% > 50% (prev 94.72%; Δ -0.39% > 0%) |
| Interest Coverage Ratio: -0.30 > 6 (EBITDA TTM -2.08m / Interest Expense TTM 34.6m) |
Altman Z'' -4.30
| A: 0.21 (Total Current Assets 292.4m - Total Current Liabilities 199.4m) / Total Assets 448.0m |
| B: -1.24 (Retained Earnings -554.7m / Total Assets 448.0m) |
| C: -0.02 (EBIT TTM -10.3m / Avg Total Assets 463.2m) |
| D: -1.41 (Book Value of Equity -556.0m / Total Liabilities 394.6m) |
| Altman-Z'' Score: -4.30 = D |
Beneish M -3.25
| DSRI: 0.67 (Receivables 61.0m/94.8m, Revenue 437.0m/453.1m) |
| GMI: 1.14 (GM 27.85% / 31.75%) |
| AQI: 1.09 (AQ_t 0.21 / AQ_t-1 0.20) |
| SGI: 0.96 (Revenue 437.0m / 453.1m) |
| TATA: -0.10 (NI -35.6m - CFO 8.35m) / TA 448.0m) |
| Beneish M-Score: -3.25 (Cap -4..+1) = AA |
What is the price of ARAY shares?
Over the past week, the price has changed by -23.20%, over one month by -30.28%, over three months by -49.18% and over the past year by -76.95%.
Is ARAY a buy, sell or hold?
- StrongBuy: 3
- Buy: 1
- Hold: 0
- Sell: 0
- StrongSell: 0
What are the forecasts/targets for the ARAY price?
| Issuer | Target | Up/Down from current |
|---|---|---|
| Wallstreet Target Price | 2.5 | 308.1% |
| Analysts Target Price | 2.5 | 308.1% |
| ValueRay Target Price | 0.4 | -38.7% |
ARAY Fundamental Data Overview February 07, 2026
P/S = 0.1508
P/B = 1.3861
P/EG = 0.08
Revenue TTM = 437.0m USD
EBIT TTM = -10.3m USD
EBITDA TTM = -2.08m USD
Long Term Debt = 123.8m USD (from longTermDebt, last fiscal year)
Short Term Debt = 19.3m USD (from shortTermDebt, last quarter)
Debt = 204.4m USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 163.1m USD (from netDebt column, last quarter)
Enterprise Value = 231.1m USD (68.0m + Debt 204.4m - CCE 41.3m)
Interest Coverage Ratio = -0.30 (Ebit TTM -10.3m / Interest Expense TTM 34.6m)
EV/FCF = 91.72x (Enterprise Value 231.1m / FCF TTM 2.52m)
FCF Yield = 1.09% (FCF TTM 2.52m / Enterprise Value 231.1m)
FCF Margin = 0.58% (FCF TTM 2.52m / Revenue TTM 437.0m)
Net Margin = -8.15% (Net Income TTM -35.6m / Revenue TTM 437.0m)
Gross Margin = 27.85% ((Revenue TTM 437.0m - Cost of Revenue TTM 315.3m) / Revenue TTM)
Gross Margin QoQ = 24.00% (prev 28.26%)
Tobins Q-Ratio = 0.52 (Enterprise Value 231.1m / Total Assets 448.0m)
Interest Expense / Debt = 3.77% (Interest Expense 7.71m / Debt 204.4m)
Taxrate = 21.0% (US default 21%)
NOPAT = -8.13m (EBIT -10.3m * (1 - 21.00%)) [loss with tax shield]
Current Ratio = 1.47 (Total Current Assets 292.4m / Total Current Liabilities 199.4m)
Debt / Equity = 3.83 (Debt 204.4m / totalStockholderEquity, last quarter 53.4m)
Debt / EBITDA = -78.38 (negative EBITDA) (Net Debt 163.1m / EBITDA -2.08m)
Debt / FCF = 64.73 (Net Debt 163.1m / FCF TTM 2.52m)
Total Stockholder Equity = 61.5m (last 4 quarters mean from totalStockholderEquity)
RoA = -7.69% (Net Income -35.6m / Total Assets 448.0m)
RoE = -57.91% (Net Income TTM -35.6m / Total Stockholder Equity 61.5m)
RoCE = -5.56% (EBIT -10.3m / Capital Employed (Equity 61.5m + L.T.Debt 123.8m))
RoIC = -3.79% (negative operating profit) (NOPAT -8.13m / Invested Capital 214.4m)
WACC = 5.02% (E(68.0m)/V(272.4m) * Re(11.16%) + D(204.4m)/V(272.4m) * Rd(3.77%) * (1-Tc(0.21)))
Discount Rate = 11.16% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: 100.0 | Cagr: 10.77%
[DCF Debug] Terminal Value 80.82% ; FCFF base≈2.52m ; Y1≈1.65m ; Y5≈754.8k
Fair Price DCF = N/A (negative equity: EV 24.0m - Net Debt 163.1m = -139.1m; debt exceeds intrinsic value)
EPS Correlation: -24.09 | EPS CAGR: -30.05% | SUE: 0.05 | # QB: 0
Revenue Correlation: 11.01 | Revenue CAGR: 1.65% | SUE: 0.18 | # QB: 0
EPS next Quarter (2026-03-31): EPS=-0.05 | Chg30d=-0.030 | Revisions Net=+2 | Analysts=1
EPS current Year (2026-06-30): EPS=-0.32 | Chg30d=-0.070 | Revisions Net=+2 | Growth EPS=-1180.0% | Growth Revenue=-3.3%
EPS next Year (2027-06-30): EPS=-0.20 | Chg30d=-0.030 | Revisions Net=-2 | Growth EPS=+29.8% | Growth Revenue=+4.6%