ACCURAY INC (ARAY) Fundamental Analysis & Valuation

NASDAQ:ARAY • US0043971052

0.4844 USD
-0.01 (-1.26%)
At close: Mar 10, 2026
0.494 USD
+0.01 (+1.98%)
After Hours: 3/10/2026, 8:06:26 PM
Overview Stock Chart Technical Analysis Fundamental Analysis Forecast Earnings Financials Ownership News

This ARAY fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.

Fundamental Rating

1

ARAY gets a fundamental rating of 1 out of 10. The analysis compared the fundamentals against 184 industry peers in the Health Care Equipment & Supplies industry. Both the profitability and financial health of ARAY have multiple concerns. ARAY does not seem to be growing, but still is valued expensively.


Dividend Valuation Growth Profitability Health

1

1. ARAY Profitability Analysis

1.1 Basic Checks

  • ARAY had negative earnings in the past year.
  • ARAY had a positive operating cash flow in the past year.
  • ARAY had negative earnings in each of the past 5 years.
  • In multiple years ARAY reported negative operating cash flow during the last 5 years.
ARAY Yearly Net Income VS EBIT VS OCF VS FCFARAY Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 20M -20M

1.2 Ratios

  • Looking at the Return On Assets, with a value of -7.95%, ARAY is in the better half of the industry, outperforming 63.04% of the companies in the same industry.
  • ARAY's Return On Equity of -66.68% is in line compared to the rest of the industry. ARAY outperforms 44.57% of its industry peers.
Industry RankSector Rank
ROA -7.95%
ROE -66.68%
ROIC N/A
ROA(3y)-1.87%
ROA(5y)-1.61%
ROE(3y)-17.92%
ROE(5y)-14.58%
ROIC(3y)N/A
ROIC(5y)N/A
ARAY Yearly ROA, ROE, ROICARAY Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 -20 -40 -60

1.3 Margins

  • ARAY's Operating Margin has declined in the last couple of years.
  • The Gross Margin of ARAY (27.83%) is worse than 77.17% of its industry peers.
  • In the last couple of years the Gross Margin of ARAY has declined.
  • ARAY does not have Profit Margin and Operating Margin available, so we won't be analyzing them here.
Industry RankSector Rank
OM N/A
PM (TTM) N/A
GM 27.83%
OM growth 3Y-3.19%
OM growth 5Y-12.13%
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y-4.86%
GM growth 5Y-3.89%
ARAY Yearly Profit, Operating, Gross MarginsARAY Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 10 20 30 40

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1

2. ARAY Health Analysis

2.1 Basic Checks

  • ARAY does not have a ROIC to compare to the WACC, probably because it is not profitable.
  • Compared to 1 year ago, ARAY has more shares outstanding
  • ARAY has more shares outstanding than it did 5 years ago.
  • Compared to 1 year ago, ARAY has an improved debt to assets ratio.
ARAY Yearly Shares OutstandingARAY Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 20M 40M 60M 80M 100M
ARAY Yearly Total Debt VS Total AssetsARAY Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 100M 200M 300M 400M

2.2 Solvency

  • ARAY has an Altman-Z score of -0.48. This is a bad value and indicates that ARAY is not financially healthy and even has some risk of bankruptcy.
  • The Altman-Z score of ARAY (-0.48) is comparable to the rest of the industry.
  • A Debt/Equity ratio of 2.34 is on the high side and indicates that ARAY has dependencies on debt financing.
  • ARAY has a worse Debt to Equity ratio (2.34) than 83.15% of its industry peers.
Industry RankSector Rank
Debt/Equity 2.34
Debt/FCF N/A
Altman-Z -0.48
ROIC/WACCN/A
WACC7.9%
ARAY Yearly LT Debt VS Equity VS FCFARAY Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 50M 100M 150M

2.3 Liquidity

  • ARAY has a Current Ratio of 1.47. This is a normal value and indicates that ARAY is financially healthy and should not expect problems in meeting its short term obligations.
  • ARAY's Current ratio of 1.47 is on the low side compared to the rest of the industry. ARAY is outperformed by 76.63% of its industry peers.
  • A Quick Ratio of 0.71 indicates that ARAY may have some problems paying its short term obligations.
  • Looking at the Quick ratio, with a value of 0.71, ARAY is doing worse than 86.41% of the companies in the same industry.
Industry RankSector Rank
Current Ratio 1.47
Quick Ratio 0.71
ARAY Yearly Current Assets VS Current LiabilitesARAY Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 100M 200M 300M

More info and screens

WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

3

3. ARAY Growth Analysis

3.1 Past

  • The earnings per share for ARAY have decreased strongly by -418.00% in the last year.
  • The Revenue has decreased by -3.57% in the past year.
  • Measured over the past years, ARAY shows a small growth in Revenue. The Revenue has been growing by 3.67% on average per year.
EPS 1Y (TTM)-418%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%-650%
Revenue 1Y (TTM)-3.57%
Revenue growth 3Y2.17%
Revenue growth 5Y3.67%
Sales Q2Q%-11.99%

3.2 Future

  • ARAY is expected to show a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 83.91% yearly.
  • ARAY is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 2.02% yearly.
EPS Next Y-902.41%
EPS Next 2Y-92.17%
EPS Next 3Y83.91%
EPS Next 5YN/A
Revenue Next Year-2.54%
Revenue Next 2Y0.96%
Revenue Next 3Y2.02%
Revenue Next 5YN/A

3.3 Evolution

  • The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
ARAY Yearly Revenue VS EstimatesARAY Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 100M 200M 300M 400M
ARAY Yearly EPS VS EstimatesARAY Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 0 -0.2 -0.4

More info and screens

Find the best growth stocksShow best growing peers

1

4. ARAY Valuation Analysis

4.1 Price/Earnings Ratio

  • ARAY reported negative earnings for the last year, which makes the Price/Earnings Ratio negative.
  • Besides the negative Price/Earnings Ratio, also the Forward Price/Earnings Ratio is negative for ARAY. No positive earnings are expected for the next year.
Industry RankSector Rank
PE N/A
Fwd PE N/A
ARAY Price Earnings VS Forward Price EarningsARAY Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 0 10 20 30

4.2 Price Multiples

Industry RankSector Rank
P/FCF N/A
EV/EBITDA N/A
ARAY Per share dataARAY EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 1 2 3

4.3 Compensation for Growth

  • ARAY's earnings are expected to grow with 83.91% in the coming years. This may justify a more expensive valuation.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y-92.17%
EPS Next 3Y83.91%

More info and screens

Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

0

5. ARAY Dividend Analysis

5.1 Amount

  • No dividends for ARAY!.
Industry RankSector Rank
Dividend Yield 0%

More info and screens

Find the best dividend stocksShow peers with best dividend

ARAY Fundamentals: All Metrics, Ratios and Statistics

ACCURAY INC

NASDAQ:ARAY (3/10/2026, 8:06:26 PM)

After market: 0.494 +0.01 (+1.98%)

0.4844

-0.01 (-1.26%)

Chartmill FA Rating
GICS SectorHealth Care
GICS IndustryGroupHealth Care Equipment & Services
GICS IndustryHealth Care Equipment & Supplies
Earnings (Last)02-04
Earnings (Next)04-28
Inst Owners71.01%
Inst Owner Change8.28%
Ins Owners3.74%
Ins Owner Change17.36%
Market Cap57.54M
Revenue(TTM)436.97M
Net Income(TTM)-35.62M
Analysts87.5
Price Target2.58 (432.62%)
Short Float %5.25%
Short Ratio5.74
Dividend
Industry RankSector Rank
Dividend Yield 0%
Yearly DividendN/A
Dividend Growth(5Y)N/A
DPN/A
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)-63.4%
Min EPS beat(2)-128.76%
Max EPS beat(2)1.96%
EPS beat(4)2
Avg EPS beat(4)-35.2%
Min EPS beat(4)-128.76%
Max EPS beat(4)80.39%
EPS beat(8)5
Avg EPS beat(8)-37.59%
EPS beat(12)7
Avg EPS beat(12)-47.14%
EPS beat(16)10
Avg EPS beat(16)-37.27%
Revenue beat(2)1
Avg Revenue beat(2)0.1%
Min Revenue beat(2)-0.61%
Max Revenue beat(2)0.82%
Revenue beat(4)3
Avg Revenue beat(4)2.65%
Min Revenue beat(4)-0.61%
Max Revenue beat(4)9.35%
Revenue beat(8)6
Avg Revenue beat(8)1.43%
Revenue beat(12)8
Avg Revenue beat(12)1.25%
Revenue beat(16)10
Avg Revenue beat(16)0.89%
PT rev (1m)-34.84%
PT rev (3m)-34.84%
EPS NQ rev (1m)-125%
EPS NQ rev (3m)-125%
EPS NY rev (1m)-14%
EPS NY rev (3m)-14%
Revenue NQ rev (1m)-7.67%
Revenue NQ rev (3m)-7.67%
Revenue NY rev (1m)-5.04%
Revenue NY rev (3m)-5.04%
Valuation
Industry RankSector Rank
PE N/A
Fwd PE N/A
P/S 0.13
P/FCF N/A
P/OCF 12.65
P/B 1.08
P/tB N/A
EV/EBITDA N/A
EPS(TTM)-0.26
EYN/A
EPS(NY)-0.11
Fwd EYN/A
FCF(TTM)-0.02
FCFYN/A
OCF(TTM)0.04
OCFY7.9%
SpS3.68
BVpS0.45
TBVpS-0.18
PEG (NY)N/A
PEG (5Y)N/A
Graham NumberN/A
Profitability
Industry RankSector Rank
ROA -7.95%
ROE -66.68%
ROCE N/A
ROIC N/A
ROICexc N/A
ROICexgc N/A
OM N/A
PM (TTM) N/A
GM 27.83%
FCFM N/A
ROA(3y)-1.87%
ROA(5y)-1.61%
ROE(3y)-17.92%
ROE(5y)-14.58%
ROIC(3y)N/A
ROIC(5y)N/A
ROICexc(3y)N/A
ROICexc(5y)N/A
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)1.6%
ROCE(5y)3.12%
ROICexgc growth 3YN/A
ROICexgc growth 5YN/A
ROICexc growth 3YN/A
ROICexc growth 5YN/A
OM growth 3Y-3.19%
OM growth 5Y-12.13%
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y-4.86%
GM growth 5Y-3.89%
F-Score4
Asset Turnover0.98
Health
Industry RankSector Rank
Debt/Equity 2.34
Debt/FCF N/A
Debt/EBITDA N/A
Cap/Depr 102.78%
Cap/Sales 1.65%
Interest Coverage N/A
Cash Conversion N/A
Profit Quality N/A
Current Ratio 1.47
Quick Ratio 0.71
Altman-Z -0.48
F-Score4
WACC7.9%
ROIC/WACCN/A
Cap/Depr(3y)136.79%
Cap/Depr(5y)106.47%
Cap/Sales(3y)1.52%
Cap/Sales(5y)1.25%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-418%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%-650%
EPS Next Y-902.41%
EPS Next 2Y-92.17%
EPS Next 3Y83.91%
EPS Next 5YN/A
Revenue 1Y (TTM)-3.57%
Revenue growth 3Y2.17%
Revenue growth 5Y3.67%
Sales Q2Q%-11.99%
Revenue Next Year-2.54%
Revenue Next 2Y0.96%
Revenue Next 3Y2.02%
Revenue Next 5YN/A
EBIT growth 1Y-281.24%
EBIT growth 3Y-1.09%
EBIT growth 5Y-8.91%
EBIT Next Year181.28%
EBIT Next 3Y102.89%
EBIT Next 5YN/A
FCF growth 1Y-134.93%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y-77.07%
OCF growth 3YN/A
OCF growth 5YN/A

ACCURAY INC / ARAY FAQ

What is the fundamental rating for ARAY stock?

ChartMill assigns a fundamental rating of 1 / 10 to ARAY.


What is the valuation status for ARAY stock?

ChartMill assigns a valuation rating of 1 / 10 to ACCURAY INC (ARAY). This can be considered as Overvalued.


How profitable is ACCURAY INC (ARAY) stock?

ACCURAY INC (ARAY) has a profitability rating of 1 / 10.


Can you provide the financial health for ARAY stock?

The financial health rating of ACCURAY INC (ARAY) is 1 / 10.