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ACCURAY INC (ARAY) Stock Fundamental Analysis

NASDAQ:ARAY - Nasdaq - US0043971052 - Common Stock - Currency: USD

2.065  -0.04 (-2.13%)

Fundamental Rating

3

We assign a fundamental rating of 3 out of 10 to ARAY. ARAY was compared to 189 industry peers in the Health Care Equipment & Supplies industry. ARAY has a bad profitability rating. Also its financial health evaluation is rather negative. ARAY is not valued too expensively and it also shows a decent growth rate.


Dividend Valuation Growth Profitability Health

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3

1. Profitability

1.1 Basic Checks

In the past year ARAY has reported negative net income.
In the past year ARAY has reported a negative cash flow from operations.
In the past 5 years ARAY reported 4 times negative net income.
The reported operating cash flow has been mixed in the past 5 years: ARAY reported negative operating cash flow in multiple 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 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 20M -20M -40M

1.2 Ratios

Looking at the Return On Assets, with a value of -0.91%, ARAY is in the better half of the industry, outperforming 68.45% of the companies in the same industry.
ARAY has a better Return On Equity (-9.13%) than 65.24% of its industry peers.
The Return On Invested Capital of ARAY (1.37%) is better than 68.45% of its industry peers.
Measured over the past 3 years, the Average Return On Invested Capital for ARAY is significantly below the industry average of 8.22%.
The last Return On Invested Capital (1.37%) for ARAY is above the 3 year average (1.33%), which is a sign of increasing profitability.
Industry RankSector Rank
ROA -0.91%
ROE -9.13%
ROIC 1.37%
ROA(3y)-2.13%
ROA(5y)-1.38%
ROE(3y)-20.59%
ROE(5y)-12.99%
ROIC(3y)1.33%
ROIC(5y)2.66%
ARAY Yearly ROA, ROE, ROICARAY Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 -20 -40 -60

1.3 Margins

With a decent Operating Margin value of 1.06%, ARAY is doing good in the industry, outperforming 66.84% of the companies in the same industry.
ARAY's Operating Margin has improved in the last couple of years.
With a Gross Margin value of 31.75%, ARAY is not doing good in the industry: 74.33% of the companies in the same industry are doing better.
ARAY's Gross Margin has declined in the last couple of years.
Industry RankSector Rank
OM 1.06%
PM (TTM) N/A
GM 31.75%
OM growth 3Y-50.12%
OM growth 5Y37.15%
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y-7.31%
GM growth 5Y-3.77%
ARAY Yearly Profit, Operating, Gross MarginsARAY Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 10 -10 20 30 40

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1

2. Health

2.1 Basic Checks

With a Return on Invested Capital (ROIC) below the Cost of Capital (WACC), ARAY is destroying value.
Compared to 1 year ago, ARAY has more shares outstanding
ARAY has more shares outstanding than it did 5 years ago.
ARAY has a better debt/assets ratio than last year.
ARAY Yearly Shares OutstandingARAY Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 20M 40M 60M 80M 100M
ARAY Yearly Total Debt VS Total AssetsARAY Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 100M 200M 300M 400M

2.2 Solvency

ARAY has an Altman-Z score of 0.08. This is a bad value and indicates that ARAY is not financially healthy and even has some risk of bankruptcy.
ARAY has a Altman-Z score of 0.08. This is comparable to the rest of the industry: ARAY outperforms 45.45% of its industry peers.
A Debt/Equity ratio of 3.51 is on the high side and indicates that ARAY has dependencies on debt financing.
Looking at the Debt to Equity ratio, with a value of 3.51, ARAY is doing worse than 87.70% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 3.51
Debt/FCF N/A
Altman-Z 0.08
ROIC/WACC0.16
WACC8.69%
ARAY Yearly LT Debt VS Equity VS FCFARAY Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 50M 100M 150M

2.3 Liquidity

A Current Ratio of 1.62 indicates that ARAY should not have too much problems paying its short term obligations.
Looking at the Current ratio, with a value of 1.62, ARAY is doing worse than 73.80% of the companies in the same industry.
ARAY has a Quick Ratio of 1.62. This is a bad value and indicates that ARAY is not financially healthy enough and could expect problems in meeting its short term obligations.
Looking at the Quick ratio, with a value of 0.88, ARAY is doing worse than 83.96% of the companies in the same industry.
Industry RankSector Rank
Current Ratio 1.62
Quick Ratio 0.88
ARAY Yearly Current Assets VS Current LiabilitesARAY Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 100M 200M 300M

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4

3. Growth

3.1 Past

ARAY shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 66.67%, which is quite impressive.
The Revenue has been growing slightly by 1.25% in the past year.
ARAY shows a small growth in Revenue. Measured over the last years, the Revenue has been growing by 1.29% yearly.
EPS 1Y (TTM)66.67%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%120%
Revenue 1Y (TTM)1.25%
Revenue growth 3Y4.06%
Revenue growth 5Y1.29%
Sales Q2Q%8.33%

3.2 Future

Based on estimates for the next years, ARAY will show a very strong growth in Earnings Per Share. The EPS will grow by 48.50% on average per year.
The Revenue is expected to grow by 5.81% on average over the next years.
EPS Next Y96.81%
EPS Next 2Y63.38%
EPS Next 3Y48.5%
EPS Next 5YN/A
Revenue Next Year7.96%
Revenue Next 2Y6.48%
Revenue Next 3Y5.81%
Revenue Next 5YN/A

3.3 Evolution

The Revenue growth rate is accelerating: in the next years the growth will be better than in the last years.
ARAY Yearly Revenue VS EstimatesARAY Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 100M 200M 300M 400M 500M
ARAY Yearly EPS VS EstimatesARAY Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 0 0.2 -0.2 -0.4

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4

4. Valuation

4.1 Price/Earnings Ratio

ARAY reported negative earnings for the last year, which makes the Price/Earnings Ratio negative.
ARAY is valuated rather expensively with a Price/Forward Earnings ratio of 19.28.
82.35% of the companies in the same industry are more expensive than ARAY, based on the Price/Forward Earnings ratio.
ARAY is valuated at similar levels of the S&P average when we compare the Price/Forward Earnings ratio to 22.70, which is the current average of the S&P500 Index.
Industry RankSector Rank
PE N/A
Fwd PE 19.28
ARAY Price Earnings VS Forward Price EarningsARAY Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 0 20 -20 40 -40

4.2 Price Multiples

Based on the Enterprise Value to EBITDA ratio, ARAY is valued a bit cheaper than the industry average as 69.52% of the companies are valued more expensively.
Industry RankSector Rank
P/FCF N/A
EV/EBITDA 30.27
ARAY Per share dataARAY EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 1 2 3 4

4.3 Compensation for Growth

ARAY's low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
A more expensive valuation may be justified as ARAY's earnings are expected to grow with 48.50% in the coming years.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y63.38%
EPS Next 3Y48.5%

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0

5. Dividend

5.1 Amount

No dividends for ARAY!.
Industry RankSector Rank
Dividend Yield N/A

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ACCURAY INC

NASDAQ:ARAY (2/24/2025, 10:38:19 AM)

2.065

-0.04 (-2.13%)

Chartmill FA Rating
GICS SectorHealth Care
GICS IndustryGroupHealth Care Equipment & Services
GICS IndustryHealth Care Equipment & Supplies
Earnings (Last)02-05 2025-02-05/amc
Earnings (Next)04-29 2025-04-29/amc
Inst Owners61.15%
Inst Owner Change-94.82%
Ins Owners2.15%
Ins Owner Change-3.46%
Market Cap212.34M
Analysts86
Price Target6.25 (202.66%)
Short Float %4.5%
Short Ratio6.17
Dividend
Industry RankSector Rank
Dividend Yield N/A
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)2
Avg EPS beat(2)101.87%
Min EPS beat(2)25.3%
Max EPS beat(2)178.43%
EPS beat(4)3
Avg EPS beat(4)-39.98%
Min EPS beat(4)-370.59%
Max EPS beat(4)178.43%
EPS beat(8)5
Avg EPS beat(8)-53.11%
EPS beat(12)8
Avg EPS beat(12)-37.96%
EPS beat(16)11
Avg EPS beat(16)-20.29%
Revenue beat(2)2
Avg Revenue beat(2)2.63%
Min Revenue beat(2)2.05%
Max Revenue beat(2)3.2%
Revenue beat(4)3
Avg Revenue beat(4)0.21%
Min Revenue beat(4)-12.76%
Max Revenue beat(4)8.35%
Revenue beat(8)5
Avg Revenue beat(8)0.55%
Revenue beat(12)7
Avg Revenue beat(12)0.3%
Revenue beat(16)11
Avg Revenue beat(16)2.13%
PT rev (1m)0%
PT rev (3m)0%
EPS NQ rev (1m)-900%
EPS NQ rev (3m)-266.67%
EPS NY rev (1m)66.67%
EPS NY rev (3m)80%
Revenue NQ rev (1m)-9.22%
Revenue NQ rev (3m)-18.84%
Revenue NY rev (1m)0.3%
Revenue NY rev (3m)0.6%
Valuation
Industry RankSector Rank
PE N/A
Fwd PE 19.28
P/S 0.47
P/FCF N/A
P/OCF N/A
P/B 4.43
P/tB N/A
EV/EBITDA 30.27
EPS(TTM)-0.05
EYN/A
EPS(NY)0.11
Fwd EY5.19%
FCF(TTM)-0.07
FCFYN/A
OCF(TTM)-0.04
OCFYN/A
SpS4.41
BVpS0.47
TBVpS-0.1
PEG (NY)N/A
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA -0.91%
ROE -9.13%
ROCE 1.74%
ROIC 1.37%
ROICexc 1.77%
ROICexgc 2.43%
OM 1.06%
PM (TTM) N/A
GM 31.75%
FCFM N/A
ROA(3y)-2.13%
ROA(5y)-1.38%
ROE(3y)-20.59%
ROE(5y)-12.99%
ROIC(3y)1.33%
ROIC(5y)2.66%
ROICexc(3y)1.95%
ROICexc(5y)4.2%
ROICexgc(3y)2.85%
ROICexgc(5y)6.2%
ROCE(3y)1.69%
ROCE(5y)3.37%
ROICexcg growth 3Y-52.47%
ROICexcg growth 5Y31.25%
ROICexc growth 3Y-51.1%
ROICexc growth 5Y33.71%
OM growth 3Y-50.12%
OM growth 5Y37.15%
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y-7.31%
GM growth 5Y-3.77%
F-Score5
Asset Turnover0.95
Health
Industry RankSector Rank
Debt/Equity 3.51
Debt/FCF N/A
Debt/EBITDA 15.41
Cap/Depr 53.48%
Cap/Sales 0.72%
Interest Coverage N/A
Cash Conversion N/A
Profit Quality N/A
Current Ratio 1.62
Quick Ratio 0.88
Altman-Z 0.08
F-Score5
WACC8.69%
ROIC/WACC0.16
Cap/Depr(3y)142.19%
Cap/Depr(5y)102.47%
Cap/Sales(3y)1.58%
Cap/Sales(5y)1.26%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)66.67%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%120%
EPS Next Y96.81%
EPS Next 2Y63.38%
EPS Next 3Y48.5%
EPS Next 5YN/A
Revenue 1Y (TTM)1.25%
Revenue growth 3Y4.06%
Revenue growth 5Y1.29%
Sales Q2Q%8.33%
Revenue Next Year7.96%
Revenue Next 2Y6.48%
Revenue Next 3Y5.81%
Revenue Next 5YN/A
EBIT growth 1Y82.59%
EBIT growth 3Y-48.1%
EBIT growth 5Y38.92%
EBIT Next Year8559.2%
EBIT Next 3Y453.1%
EBIT Next 5YN/A
FCF growth 1Y85.97%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y91.63%
OCF growth 3YN/A
OCF growth 5YN/A