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Accuray Incorporated

ARAY Healthcare Medical Devices

Accuray Incorporated’s revenue for fiscal 2026 (year ended June 2026) was $401.9 million, down 12.3% from fiscal 2025. In the quarter to June 2026, revenue fell 20.9%, EPS fell 300.0%, free cash flow grew 117.8% and total debt rose 18.2%, each against the same quarter a year earlier. Insiders bought in the last twelve months.

0.16 0.01 −5.88%
Market cap
$20.8M
P/E
0.0×
Fwd P/E
−1.3×
Dividend yield
—
F-score
1/9
Altman Z
−0.78
Beneish M
−3.08
Dividend safety
n/a
Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

Total buys 0.15
Totals in millions of $.
Dec 25 Mar 26 Jun 26 Sep 26
Buy 1 — — 2 — — — — — — — —
Sell — — — — — — — — — — — —
Insider Ownership 6.95%

Capital & Financial Ratios $m

Market Cap 20.75
Revenue 401.95
Net Income (49.19)
Free Cash Flow (12.84)
Net Debt 105.14
Current Ratio 1.50 (at or above 1.5: strong)
Debt/Equity 3.51 (above 2: weak)
P/E ratio 0.00
Fwd P/E (1.27) (negative: loss-making)
P/S ratio 0.05
P/B ratio 0.47
Past 5Y EPS Growth —
This Y EPS Growth (1,950.00%) (below 0%: weak)
Next Y EPS Growth 41.46% (at or above 15%: strong)
Next Y revenue growth 2.75%
Next 5Y EPS Growth —

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 0.3×, against a ten-year median of 0.8×; over the ten years it ranged from 0.3× in 2026 to 1.4× in 2016.
P/S against its own 10 years 0.04%
10-year low 10-year high
P/B against its own 10 years 0.04%
10-year low 10-year high
EV/Sales against its own 10 years 0.81%
10-year low 10-year high

Dividends

Payout Ratio —
Annual Dividend Rate —
Annual Dividend Yield —
total individual payouts
2024 Powerpack
2023 Powerpack
2022 Powerpack
2021 Powerpack
2020 Powerpack
2018 Powerpack
special payouts not included in total or ratios

Assets vs Liabilities $m

2023 2024 2025 2026
Cash 90 69 58 41
Receivables 75 92 83 67
Inventory 145 138 141 147
Other — — — —
338 323 317 288
2023 2024 2025 2026
Payables 34 50 34 41
ST’ Debt — — — —
Other 21 14 12 10
199 195 193 191

Compound Annual Growth %

10y 5y 3y
Sales 0.08% 0.28% (3.52%)
Cash Flow 0.00% 0.00% 0.00%
Earnings 0.00% 0.00% 0.00%
Book Value (3.52%) (9.54%) (8.06%)

Revenue $m

Sep Dec Mar Jun Year
’26 — — — — —
’26 94 102 105 101 402
’25 102 116 113 128 459
’24 104 107 101 134 447
’23 96 115 118 118 448
’22 107 116 96 110 430
’21 85 97 103 111 396
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Sep Dec Mar Jun Year
’26 — — — — —
’26 12 (16) (6) 2 (7)
’25 (7) 2 18 (10) 3
’24 (9) (5) (8) 10 (12)
’23 0 (18) 25 9 16
’22 (9) 33 (22) (5) (2)
’21 (3) 19 16 6 39
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Sep Dec Mar Jun Year
’26 — — — — —
’26 10 (19) (6) 2 (13)
’25 (8) 1 17 (11) (1)
’24 (10) (6) (9) 9 (16)
’23 (1) (20) 23 1 3
’22 (10) 32 (23) (6) (7)
’21 (3) 19 16 5 36
Fiscal quarters ending in the months shown.

EPS $

Sep Dec Mar Jun Year
’26 — — — — —
’26 (0.18) (0.11) (0.09) (0.02) (0.40)
’25 (0.04) 0.02 (0.01) 0.01 (0.02)
’24 (0.03) (0.10) (0.06) 0.03 (0.16)
’23 (0.06) (0.02) 0.01 (0.03) (0.10)
’22 (0.01) 0.00 (0.01) (0.04) (0.06)
’21 0.00 0.05 0.00 (0.12) (0.07)
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

3
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to June

Group Line 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 Trend 2027e 2028e 2029e
Price, $
Price, $ Low 3.60 3.17 2.35 1.33 3.46 1.70 2.02 1.40 0.78 0.15

Analyst estimates 2027–2029

Powerpack
High 6.00 6.15 5.40 4.86 6.02 4.87 4.30 2.99 2.95 0.93
People
People Employees 944 998 947 932 995 1,044 1,024 987 990 809
Revenue/emp, $m 0.41 0.41 0.44 0.41 0.40 0.41 0.44 0.45 0.46 0.50
Income, $m
Income, $m Revenue 383 405 419 383 396 430 448 447 459 402
Gross margin, % 36.86 39.93 38.84 39.10 40.25 37.21 34.40 32.01 32.05 27.73
EBT (29) (23) (14) 6 (5) (2) (7) (12) 1 (47)
EBT margin, % (7.44) (5.69) (3.43) 1.49 (1.15) (0.47) (1.52) (2.65) 0.25 (11.75)
Net income (30) (24) (16) 4 (6) (5) (9) (16) (2) (49)
Depreciation 22 11 12 9 8 6 5 7 8 16
Per share, $
Per share, $ Revenue 4.65 4.77 4.79 4.26 4.31 4.67 4.72 4.54 4.46 3.28
Earnings (0.36) (0.28) (0.19) 0.04 (0.07) (0.06) (0.10) (0.16) (0.02) (0.40)
Cash flow 0.00 0.22 (0.34) (0.02) 0.42 (0.03) 0.16 (0.12) 0.03 (0.06)
Capex (0.06) (0.08) (0.05) (0.04) (0.03) (0.05) (0.13) (0.04) (0.04) (0.05)
Free cash flow (0.07) 0.14 (0.39) (0.06) 0.39 (0.08) 0.03 (0.16) (0.01) (0.10)
Book value 0.56 0.57 0.57 0.71 0.75 0.58 0.57 0.46 0.79 0.34
Shares, m 82 85 87 90 92 92 95 98 103 123
Valuation, ×
Valuation, × P/E 0.00 0.00 0.00 67.67 0.00 0.00 0.00 0.00 0.00 0.00
P/S 1.02 0.86 0.82 0.48 1.05 0.42 0.82 0.39 0.31 0.08
P/B 8.42 7.12 6.86 2.87 6.04 3.39 6.84 3.84 1.73 0.76
EV/Sales 0.87 0.95 0.99 0.69 1.18 0.61 1.00 0.60 0.45 0.34
EV/FCF (55.99) 34.47 (11.98) (47.59) 13.02 (36.16) 157.05 (17.23) (139.68) (10.61)
Cash, $m
Cash, $m Operating cash flow 0 18 (30) (1) 39 (2) 16 (12) 3 (7)
Capex (5) (7) (4) (4) (2) (5) (13) (4) (4) (6)
Free cash flow (6) 12 (34) (5) 36 (7) 3 (16) (1) (13)
Balance, $m
Balance, $m Working capital 25 115 152 175 160 142 139 128 125 96
Total debt 52 131 160 189 170 172 172 164 124 146
Net debt (57) 38 73 81 53 83 82 95 66 105
Shareholders’ equity 47 49 50 64 69 53 54 45 81 42
Returns, %
Returns, % ROA (6.76) (6.09) (4.02) 0.82 (1.30) (1.12) (1.95) (3.28) (0.34) (10.77)
ROIC 0.00 (2.73) 0.30 5.43 11.40 3.74 1.10 0.22 3.33 (11.25)
ROE (55.71) (50.23) (33.36) 6.74 (9.53) (8.76) (17.37) (31.49) (2.52) (80.08)
Negative figures in brackets.

All 10 years →

Fiscal years to Jun 2026 · latest quarter Jun 2026

Charts ten years each

Accuray Incorporated vs peers in Medical Devices (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
PMI Flag Ship Acquisition Corp $23.4M 0.5× — (loss-making) +38.62% (above 0%: growing) n/m +46.79% (above 0%: growing) 20.85% (156.70%) Compare
NSPR InspireMD, Inc. $22.3M — (loss-making) — (loss-making) −0.39% (below 0%: shrinking) n/m −26.00% (below 0%: shrinking) (43.70%) (815.64%) Compare
ARAY Accuray Incorporated $20.8M — (loss-making) — (loss-making) −20.87% (below 0%: shrinking) n/m +117.83% (above 0%: growing) 35.22% 5.47%
MODD Modular Medical, Inc. $20.5M — (loss-making) — — n/m −5.61% (below 0%: shrinking) 0.00% 0.00% Compare
PAVM PAVmed Inc. $19.4M — (loss-making) — (loss-making) +450.00% (above 0%: growing) n/m −125.63% (below 0%: shrinking) (269.70%) (21,278.79%) Compare
BDMD Baird Medical Investment Holdings Limited $19.2M — (loss-making) — — n/m −598.12% (below 0%: shrinking) — — Compare
LFWD Lifeward Ltd. $17.2M — (loss-making) — (loss-making) +15.71% (above 0%: growing) n/m −52.77% (below 0%: shrinking) 40.90% (62.69%) Compare
ALUR Allurion Technologies, Inc. $16.7M — (loss-making) — (loss-making) −47.19% (below 0%: shrinking) n/m +65.98% (above 0%: growing) 41.70% (126.60%) Compare
HSCS HeartSciences Inc. $15.4M — (loss-making) — (loss-making) −46.15% (below 0%: shrinking) n/m +18.18% (above 0%: growing) 61.90% (139,957.14%) Compare
Median of peers $19.3M — — +7.66% — −15.80% 20.85% (156.70%)

All 149 Medical Devices stocks →

Accuray Incorporated (ARAY) key facts

  • Concern: Accuray Incorporated’s revenue for fiscal 2026 (year ended June 2026) was $401.9 million, down 12.3% from fiscal 2025.
  • Accuray Incorporated (ARAY) is a Medical Devices company in the Healthcare sector, listed on Nasdaq.
  • As of October 16, 2026, ARAY traded at $0.16, a market capitalization of $20.8 million.
  • Return on equity was −80.1% and debt-to-equity 3.51.
  • Its Piotroski F-score is 1 out of 9 and its Altman Z-score is −0.78 (distress zone) for fiscal 2026.

Source: company filings (standardised) and stockrow calculations.

Accuray Incorporated (ARAY) Latest News

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stockrow.com/ARAY · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com