Accuray, Inc. (ARAY)
NASDAQHealth CareMedical - DevicesSnapshot 2026-09-04
NASDAQHealth CareMedical - DevicesSnapshot 2026-09-04
Research Workspace
Put ARAY beside peers and holdings, graph the same metric, and keep your notes with the evidence.
Daily closes. Earnings/event dots are placed inline.
Industries move in repeating boom-and-bust cycles. This shows where this stock’s industry sits in that cycle, stage by stage (recovery → expansion → supercycle → steady → deceleration → contraction), from its fundamentals (orders, revenue, capital spending), not the stock’s price.
A booming industry is a tailwind for the names in it; a contracting one is a headwind. Companies in the same industry tend to rise and fall together with the cycle, the way a tide lifts and lowers every boat in the harbor at once, so a large part of a stock’s swing can come from where its industry sits rather than from the company itself. It’s context for reading the company’s results, not a buy/sell call. Full explanation →
Health Care Equipment: fringe margins under pressure (3q confirmed)
The stage band shows the industry’s cycle over the chart’s timeline (each color a stage); a ▼ marks a quarter its growth inflected down — amber is an unconfirmed watch, red is confirmed the next quarter. Use “Overlay cycle on chart” to tint the price chart by stage. The industry’s fundamentals, not a signal on this stock.
The reason to own it still holds.
View ThesisRevenue is contracting — down about 11% over the past year.
View GrowthMiddle-of-the-pack management execution.
View ManagementThis stock is highly volatile — it swings about 4% on a typical day and fell roughly 88% in its worst 12-month stretch.
View RiskARAY's growth relies on executing its transformation plan to improve cost and margin. Recent financial performance climbed back into the top half of its industry, confirming recovery. The stock trades at a typical multiple compared to peers, with a miss probability of 47%. If ARAY cuts guidance on the next call, that could negatively impact the stock. Peer multiples imply a price about 8% below where it trades. Our read remains intact.
Trailing returns as of 2026-09-04. ARAY is total return (includes dividends); the S&P 500 benchmark is price return (the index excludes dividends).
Based on 1 analyst currently covering ARAY (as of Sep 2026).
Analyst ratings and price targets are third-party Wall Street estimates, not QuarterlyIQ’s view. Not investment advice.
Continue this research
Compare ARAY with peers and holdings, graph the same reported metric, keep your questions beside the evidence, and return when the facts change.
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| Compare | Company | Living FV | P/E | Revenue % | Quality |
|---|---|---|---|---|---|
| ARAY Selected company | Graph | Compare | Trend | Review | |
| Peer Add a competitor | Graph | Compare | Trend | Review | |
| Holding Compare a holding | Graph | Compare | Trend | Review |
Selected metric trend
Quarterly · checked companies · value or % of revenue
A consensus fair price across 0 valuation methods, at three horizons. As of 2026-09-04. Estimates are diagnostics, not price targets. Short-horizon estimates are close to coin-flips, so confidence is a method-agreement read, not a prediction.
Today's peer multiple on trailing earnings, with no growth credited. This is the headline read.
Adds projected growth, so it leans optimistic by design. Read it as upside context, not a base case.
A price-focused, side-by-side fair-value read versus Health Care Equipment — fair value, gap to price, and forward P/E.
Compare the value case
Put ARAY next to peers and holdings, compare Living FV and multiples, then graph the driver behind the difference.
Threatens: Strengthen financial position via TCW agreements
Mixed quarter indicates financial position is under pressure.
Not investment advice. Scores describe historical and current data; they are not forecasts of future returns. Consult a licensed advisor before making investment decisions.
End-of-day figures as of 2026-09-04. EPS is implied from price ÷ P/E. Not investment advice.
A long-thesis check that carries the widest uncertainty of the three horizons.
Bottom 25% on quality vs scored peers
Direction of the business behind the multiple. Bands are backend reads; trailing-12-month basis.
TTM earnings are negative. P/E-based methods drop out and the estimate leans on sales- and cash-flow-based methods. A data condition, not a forward call.

Advances: Execute transformation plan to improve cost and margin
Earnings call highlights strategic transformation progress.

Advances: Execute transformation plan to improve cost and margin
Cost and margin improvement aligns with transformation plan.

Mixed results indicate potential challenges to financial objectives.

Earnings beat but revenue shortfall indicates potential issues.
