Accuray Incorporated

NasdaqGS:ARAY Stock Report

Market Cap: US$138.3m

Accuray Valuation

Is ARAY undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

5/6

Valuation Score 5/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Sales vs Peers

  • Price-To-Sales vs Industry

  • Price-To-Sales vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of ARAY when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

US$4.81
Fair Value
75.7% undervalued intrinsic discount
2
Number of Analysts

Below Fair Value: ARAY ($1.17) is trading below our estimate of fair value ($4.81)

Significantly Below Fair Value: ARAY is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for ARAY?

Key metric: As ARAY is unprofitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for ARAY. This is calculated by dividing ARAY's market cap by their current revenue.
What is ARAY's PS Ratio?
PS Ratio0.3x
SalesUS$450.90m
Market CapUS$138.28m

Price to Sales Ratio vs Peers

How does ARAY's PS Ratio compare to its peers?

The above table shows the PS ratio for ARAY vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average14.7x
KRMD KORU Medical Systems
4.9x14.66%US$183.1m
APYX Apyx Medical
3.1x12.63%US$126.7m
KEQU Kewaunee Scientific
0.5xn/aUS$115.9m
PMI Picard Medical
50.2xn/aUS$239.5m
ARAY Accuray
0.3x4.43%US$138.3m

Price-To-Sales vs Peers: ARAY is good value based on its Price-To-Sales Ratio (0.3x) compared to the peer average (14.7x).

Price to Sales Ratio vs Industry

How does ARAY's PS Ratio compare vs other companies in the US Medical Equipment Industry?

58 CompaniesPrice / SalesEstimated GrowthMarket Cap
Industry Avg.3.1x8.4%
ARAY Accuray
 0.3x4.43%US$138.28m
XRAY DENTSPLY SIRONA
0.6x2.03%US$2.20b
ENOV Enovis
0.7x5.31%US$1.63b
ARAY 0.3xIndustry Avg. 3.1xNo. of Companies58PS03.26.49.612.816+
58 CompaniesEstimated GrowthMarket Cap
Industry Avg.3.1x13.3%
ARAY Accuray
 0.3x116.63%US$138.28m
No more companies

Price-To-Sales vs Industry: ARAY is good value based on its Price-To-Sales Ratio (0.3x) compared to the US Medical Equipment industry average (2.9x).

Price to Sales Ratio vs Fair Ratio

What is ARAY's PS Ratio compared to its Fair PS Ratio? This is the expected PS Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

ARAY PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio0.3x
Fair PS Ratio0.5x

Price-To-Sales vs Fair Ratio: ARAY is good value based on its Price-To-Sales Ratio (0.3x) compared to the estimated Fair Price-To-Sales Ratio (0.5x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst ARAY forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentUS$1.17
US$4.75
+305.98%
5.26%US$5.00US$4.50n/a2
Nov ’26US$1.41
US$4.75
+236.88%
5.26%US$5.00US$4.50n/a2
Oct ’26US$1.65
US$4.75
+187.88%
5.26%US$5.00US$4.50n/a2
Sep ’26US$1.52
US$5.50
+261.84%
19.64%US$7.00US$4.50n/a3
Aug ’26US$1.28
US$5.17
+303.65%
25.40%US$7.00US$4.00n/a3
Jul ’26US$1.36
US$5.17
+279.90%
25.40%US$7.00US$4.00n/a3
Jun ’26US$1.53
US$5.63
+267.65%
17.07%US$7.00US$4.50n/a4
May ’26US$1.35
US$5.88
+335.19%
12.59%US$7.00US$5.00n/a4
Apr ’26US$1.78
US$6.13
+244.10%
8.90%US$7.00US$5.50n/a4
Mar ’26US$2.01
US$6.13
+204.73%
8.90%US$7.00US$5.50n/a4
Feb ’26US$2.23
US$6.13
+174.66%
8.90%US$7.00US$5.50n/a4
Jan ’26US$1.98
US$6.13
+209.34%
8.90%US$7.00US$5.50n/a4
Dec ’25US$2.23
US$6.13
+174.66%
8.90%US$7.00US$5.50n/a4
Nov ’25US$1.75
US$6.13
+250.00%
8.90%US$7.00US$5.50US$1.414
Oct ’25US$1.72
US$6.13
+256.10%
8.90%US$7.00US$5.50US$1.654
Sep ’25US$2.18
US$6.13
+180.96%
8.90%US$7.00US$5.50US$1.524
Aug ’25US$1.69
US$6.00
+255.03%
11.79%US$7.00US$5.00US$1.284
Jul ’25US$1.76
US$6.00
+240.91%
11.79%US$7.00US$5.00US$1.364
Jun ’25US$1.77
US$6.00
+238.98%
11.79%US$7.00US$5.00US$1.534
May ’25US$2.17
US$8.75
+303.23%
30.64%US$13.00US$6.00US$1.354
Apr ’25US$2.41
US$8.75
+263.07%
30.64%US$13.00US$6.00US$1.784
Mar ’25US$2.61
US$8.75
+235.25%
30.64%US$13.00US$6.00US$2.014
Feb ’25US$2.56
US$8.67
+238.54%
35.67%US$13.00US$6.00US$2.233
Jan ’25US$2.83
US$8.50
+200.35%
31.68%US$13.00US$6.00US$1.984
Dec ’24US$2.54
US$8.50
+234.65%
31.68%US$13.00US$6.00US$2.234
Nov ’24US$2.57
US$8.30
+222.96%
29.41%US$13.00US$6.00US$1.755
US$4.75
Fair Value
75.4% undervalued intrinsic discount
2
Number of Analysts

Analyst Forecast: Target price is more than 20% higher than the current share price, but there are not enough analysts covering the stock to determine statistical confidence in agreement.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2025/11/07 21:14
End of Day Share Price 2025/11/07 00:00
Earnings2025/09/30
Annual Earnings2025/06/30

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Accuray Incorporated is covered by 16 analysts. 3 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Neil ChatterjiB. Riley Securities, Inc.
Michael GormanBTIG
Lawrence SolowCJS Securities, Inc.