Accuray Incorporated Common Stock (ARAY)

FairStock Score: 28/100 — RISKY

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

I look for businesses that earn good returns on capital and turn sales into cash. Accuray does neither today. In FY2026, the year ended 2026-06-30, revenue was $401.9M and net income was -$49.2M, or -$0.40 per diluted share. That is worse than FY2025, the year ended 2025-06-30, when revenue was $458.5M and net income was -$1.6M. In fiscal Q3 2026, the quarter ended 2026-03-31, revenue was $104.8M and net income was -$11.8M. The company has lost money in each of the last four years, so FairStock assigns no Peter Lynch category, and its FairStock Score is 28/100. FairStock calculations show ROE of -80.08%, ROCE of -1.40%, and a price-to-book of 0.54 at the 2026-10-13 close of $0.19, near the 52-week low. Debt/equity is 4.41, and the Altman Z-Score is -1.23, which points to financial fragility. Trailing free cash flow is -$19.3M, a -84.9% FCF yield against the $22.7M market cap. The CyberKnife platform has regulatory and installed-base barriers, and Piotroski is 5/9, so there are some signs of life. But a medical-device company with falling revenue, high leverage, and negative cash flow is not an obvious bargain. A low price can be a value trap when the business consumes cash. I would want evidence of durable profit and positive free cash flow before calling this a Graham-style margin of safety.

In plain English: Accuray makes radiation therapy and radiosurgery machines for treating tumors. The business looks weak: sales fell from fiscal 2025 to fiscal 2026, it keeps losing money, and it burns cash. The share price is very low compared with its accounting value, but cheap alone does not make a loss-making company safe.

The full AI analysis, bull and bear case and key monitorables are in FairStock Pro.

Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q3 2026 10-Q (period ended 2026-03-31) · fiscal Q2 2026 10-Q (period ended 2025-12-31) · fiscal Q1 2026 10-Q (period ended 2025-09-30) · fiscal Q3 2025 10-Q (period ended 2025-03-31) · FY2026 10-K (period ended 2026-06-30) · FY2025 10-K (period ended 2025-06-30) · FY2024 10-K/A (period ended 2024-06-30)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer