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Accuray Incorp (ARAY) Financials

ARAY
FY2026 annual
Revenue $401.9M -12.3% YoY
Net Income -$49.2M -2992.0% YoY
Free Cash Flow -$12.8M -809.5% YoY
Operating Cash Flow -$7.0M -344.1% YoY
Market Cap $29.0M as of Sep 11, 2026
Price / Sales 0.1x on $401.9M revenue, FY2026
Price / Earnings n/m net loss, so no earnings multiple, FY2026
Price / Book 0.7x on $41.7M equity, Q4 FY2026

A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Sep 11, 2026; every other figure is from the SEC filings on this page. Not financial advice.

Source SEC Filings (10-K/10-Q) Latest period FY2026, ended Jun 30, 2026 Reported Currency USD FYE June

Newest figures come from the 10-K for FY2026, filed Aug 27, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the ARAY SEC filings page.

Accuray Incorp (ARAY) reported $401.9M in revenue for fiscal year 2026, down 12.3% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI ARAY FY2026

FY2026 exposes a margin-and-financing squeeze: weaker sales, thinner gross economics, and heavier interest turned near-break-even operations into deep losses.

Revenue fell to $401.9M in FY2026 while gross margin compressed to 27.7%, so the downturn was not merely a volume event: less revenue arrived with less contribution to absorb overhead. Interest expense reached $32.1M, magnifying the operating setback into a $49.2M net loss rather than leaving the weakness confined to operations.

FY2025 operating income reached $7.8M after only $0.5M in FY2024, indicating the prior improvement was a thin recovery rather than a wide profitability cushion. FY2026 revenue then fell 12.3%, and operating income turned to a $26.4M loss, showing how quickly fixed costs overwhelmed the smaller sales base.

Debt-to-equity rose to 3.5x in FY2026 from 1.5x in FY2025, making the capital structure more sensitive to earnings volatility. Operating cash flow was -$7.0M and free cash flow was -$12.8M; the company was not converting its reported results into internally funded investment.

[ NOT FINANCIAL ADVICE ]

Financial Health Signals

Profitability Growth Leverage Liquidity CashFlow Returns 22 / 100
Financial Health Score 22/100

Scored against operating companies for FY2026. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →

Health score ≠ stock price. This rates the quality of Accuray Incorp's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Profitability
21

Accuray Incorp has an operating margin of -6.6%, meaning the company loses $7 on every $100 of revenue. This results in a profitability score of 21/100. This is down from 1.7% the prior year.

Growth
16

Accuray Incorp's revenue declined 12.3% year-over-year, from $458.5M to $401.9M. This contraction results in a growth score of 16/100.

Leverage
18

Accuray Incorp has elevated debt relative to equity (D/E of 3.51), meaning the company relies heavily on borrowed funds. This high leverage results in a low score of 18/100, reflecting increased financial risk.

Liquidity
41

Accuray Incorp's current ratio of 1.50 indicates adequate short-term liquidity, earning a score of 41/100. The company can meet its near-term obligations, though with limited headroom.

Cash Flow
20

Accuray Incorp's operations used $7.0M of cash, and capex of $5.9M added to the outflow, for a free cash flow shortfall of $12.8M. This results in a cash flow score of 20/100.

Returns
18

Accuray Incorp posts a -118.0% return on equity (ROE), meaning it loses $118 for every $100 of shareholders' equity. This results in a returns score of 18/100. This is down from -2.0% the prior year.

Altman Z-Score Distress
-0.78

Accuray Incorp scores -0.78, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($29.0M) relative to total liabilities ($402.0M). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.

Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.

Piotroski F-Score Weak
1/9

Accuray Incorp passes 1 of 9 financial strength tests. 1 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), neither operating efficiency signal passes.

Earnings Quality No Cash Backing
N/A

Accuray Incorp reported a net loss of $49.2M while operations used $7.0M of cash. With neither figure positive, the ratio between the two carries no quality signal.

Interest Coverage At Risk
N/A

Accuray Incorp reported an operating loss of $26.4M against $32.1M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations.

Key Financial Metrics

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Earnings & Revenue

Revenue
$100.9M
YoY-20.9%
QoQ-3.7%
5Y CAGR-1.9%
10Y CAGR+0.6%

Accuray Incorp generated $100.9M in revenue in Q4 2026. This represents a decrease of 20.9% from the same quarter a year earlier. Against the prior quarter it is down 3.7%.

EBITDA
$8.3M
YoY+40.0%
QoQ+212.2%

Accuray Incorp's EBITDA was $8.3M in Q4 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 40.0% from the same quarter a year earlier. Against the prior quarter it is up 212.2%.

Net Income
-$1.9M
YoY-272.8%
QoQ+83.6%

Accuray Incorp reported -$1.9M in net income in Q4 2026. This represents a decrease of 272.8% from the same quarter a year earlier. Against the prior quarter it is up 83.6%.

EPS (Diluted)

Not reported for Q4 2026.

Cash & Balance Sheet

Free Cash Flow
$2.0M
YoY+117.8%
QoQ+132.4%
5Y CAGR-18.0%
10Y CAGR-19.7%

Accuray Incorp generated $2.0M in free cash flow in Q4 2026, representing cash available after capex. This represents an increase of 117.8% from the same quarter a year earlier. Against the prior quarter it is up 132.4%.

Cash & Debt
$40.6M
YoY-29.2%
QoQ+6.7%
5Y CAGR-19.0%
10Y CAGR-10.2%

Accuray Incorp held $40.6M in cash against $146.4M in long-term debt as of Q4 2026.

Shares Outstanding
119M
YoY+6.0%
QoQ+0.4%
5Y CAGR+5.6%
10Y CAGR+3.9%

Accuray Incorp had 119M shares outstanding in Q4 2026. This represents an increase of 6.0% from the same quarter a year earlier. Against the prior quarter it is up 0.4%.

Dividends Per Share

Not reported for Q4 2026.

Margins & Returns

Gross Margin
35.2%
YoY+4.7pp
QoQ+11.1pp
5Y CAGR-4.2pp
10Y CAGR-4.0pp

Accuray Incorp's gross margin was 35.2% in Q4 2026, indicating the percentage of revenue retained after direct costs. This is up 4.7 percentage points from the same quarter a year earlier. Against the prior quarter it is up 11.1 percentage points.

Operating Margin
5.5%
YoY+2.1pp
QoQ+14.1pp

Accuray Incorp's operating margin was 5.5% in Q4 2026, reflecting core business profitability. This is up 2.1 percentage points from the same quarter a year earlier. Against the prior quarter it is up 14.1 percentage points.

Net Margin
-1.9%
YoY-2.8pp
QoQ+9.3pp
5Y CAGR+8.1pp
10Y CAGR+5.7pp

Accuray Incorp's net profit margin was -1.9% in Q4 2026, showing the share of revenue converted to profit. This is down 2.8 percentage points from the same quarter a year earlier. Against the prior quarter it is up 9.3 percentage points.

Return on Equity
-4.7%
YoY-6.0pp
QoQ+23.6pp
5Y CAGR+11.5pp
10Y CAGR+7.4pp

Accuray Incorp's ROE was -4.7% in Q4 2026, measuring profit generated per dollar of shareholder equity. This is down 6.0 percentage points from the same quarter a year earlier. Against the prior quarter it is up 23.6 percentage points.

Capital Allocation

R&D Spending
$7.6M
YoY-34.1%
QoQ-7.6%

Accuray Incorp invested $7.6M in research and development in Q4 2026. This represents a decrease of 34.1% from the same quarter a year earlier. Against the prior quarter it is down 7.6%.

Capital Expenditures
$461K
YoY-65.1%
QoQ-2.1%
5Y CAGR-12.4%
10Y CAGR-14.4%

Accuray Incorp invested $461K in capex in Q4 2026, funding long-term assets and infrastructure. This represents a decrease of 65.1% from the same quarter a year earlier. Against the prior quarter it is down 2.1%.

Share Buybacks

Not reported for Q4 2026.

ARAY Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

ARAY quarterly income statement
MetricQ4'2610-KQ3'2610-QQ2'2610-QQ1'2610-Q/AQ4'2510-KQ3'2510-QQ2'2510-QQ1'2510-Q/A
Revenue$100.9M-20.9%$104.8M-7.4%$102.2M-12.0%$93.9M-7.5%$127.5M-5.0%$113.2M+12.0%$116.2M+8.3%$101.5M-2.3%
Cost of Revenue$65.4M-26.2%$79.6M-2.5%$78.2M+5.2%$67.4M+0.5%$88.6M-7.6%$81.6M+13.3%$74.3M+4.1%$67.1M+4.2%
Gross Profit$35.5M-8.8%$25.3M-20.0%$24.1M-42.5%$26.5M-23.0%$39.0M+1.4%$31.6M+8.8%$41.9M+16.7%$34.5M-12.7%
R&D Expenses$7.6M-34.1%$8.2M-23.7%$10.7M-21.9%$11.4M-6.2%$11.5M+20.4%$10.7M-1.8%$13.6M-10.7%$12.1M-13.5%
SG&A Expenses$9.6M-19.2%$11.2M+4.3%$10.1M-19.0%$14.5M+13.3%$11.9M+4.0%$10.8M-13.3%$12.4M-6.0%$12.8M-1.6%
Operating Income$5.5M+30.5%-$9.1M-967.9%-$11.6M-345.7%-$11.3M-426.4%$4.2M-37.9%$1.0M+123.0%$4.7M+218.7%-$2.1M-197.1%
EBITDA$8.3M+40.0%-$7.4M-390.0%-$9.8M-257.3%-$9.6M-1306.9%$5.9M-28.9%$2.5M+186.0%$6.2M+356.7%-$685K-119.8%
Interest Expense$8.3M+95.4%$8.2M+183.0%$7.6M+163.3%$8.1M+172.5%$4.2M+45.9%$2.9M+0.2%$2.9M-1.3%$3.0M+1.1%
Income Tax$434K-54.2%$468K+2.4%$573K-17.6%$471K-24.6%$948K+101.3%$457K+2.9%$695K-20.8%$625K-67.7%
Net Income-$1.9M-272.8%-$11.8M-810.2%-$13.8M-642.8%-$21.7M-448.3%$1.1M-66.8%-$1.3M+79.5%$2.5M+126.4%-$4.0M-33.2%
EPS (Basic)-$0.01-200.0%-$0.09-800.0%-$0.11-466.7%-$0.18-350.0%$0.01-66.7%-$0.01+83.3%$0.03+130.0%-$0.04-33.3%
EPS (Diluted)N/AN/A-$0.11-650.0%-$0.18-350.0%$0.01-66.7%-$0.01+83.3%$0.02+120.0%-$0.04-33.3%
Diluted Shares (Avg)N/AN/A120,973+16.6%119M+18.7%N/A103M+3.7%103,746-99.9%100M+3.8%

ARAY Balance Sheet

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

ARAY quarterly balance sheet
MetricQ4'2610-KQ3'2610-QQ2'2610-QQ1'2610-Q/AQ4'2510-KQ3'2510-QQ2'2510-QQ1'2510-Q/A
Total Assets$443.7M-5.6%$447.6M-7.6%$448.0M-6.3%$456.8M-3.4%$470.2M+0.3%$484.3M+4.7%$478.4M+0.4%$473.1M-0.8%
Current Assets$287.8M-9.4%$293.2M-12.1%$292.4M-10.3%$303.6M-7.9%$317.5M-1.8%$333.5M+6.2%$325.9M-1.6%$329.5M-1.4%
Cash & Equivalents$40.6M-29.2%$38.1M-51.1%$41.3M-34.0%$63.3M+7.0%$57.4M-16.3%$77.8M+28.7%$62.6M-14.0%$59.2M-23.0%
Short-Term Investments$0$0$0$0$0$0$0$0
Inventory$147.1M+4.3%$156.6M+7.0%$151.0M+1.4%$155.5M+0.4%$141.0M+1.9%$146.4M-8.2%$148.8M-4.1%$154.9M+3.3%
Accounts Receivable$67.4M-19.0%$64.6M$61.0M$54.4M$83.2M-9.6%N/AN/AN/A
Long-Term Investments$0$0$0$0$0$0$0$0
Goodwill$57.9M+0.2%$57.9M+0.3%$57.8M+0.3%$57.8M+0.3%$57.8M+0.2%$57.7M+0.1%$57.7M-0.2%$57.7M0.0%
Total Liabilities$402.0M+3.3%$405.9M-6.6%$394.6M-8.3%$394.9M-7.7%$389.1M-8.1%$434.7M+3.1%$430.5M+0.4%$427.9M+0.5%
Current Liabilities$191.4M-0.6%$205.8M+1.2%$199.4M-1.0%$194.6M-3.6%$192.6M-1.4%$203.4M+2.5%$201.5M-3.8%$201.8M+0.2%
Non-Current Liabilities$210.6M+7.2%$200.1M-13.5%$195.2M-14.8%$200.3M-11.4%$196.5M-13.9%$231.3M+3.7%$229.0M+4.4%$226.0M+0.7%
Long-Term Debt$146.4M+18.2%$134.0M-19.4%$124.8M-25.7%$127.3M-21.6%$123.8M-24.7%$166.2M0.0%$168.0M0.0%$162.5M-4.3%
Total Equity$41.7M-48.6%$41.7M-15.9%$53.4M+11.5%$61.9M+36.8%$81.2M+80.0%$49.6M+20.7%$47.9M+0.5%$45.2M-11.2%
Retained Earnings-$568.5M-9.5%-$566.5M-8.9%-$554.7M-6.9%-$541.0M-3.7%-$519.3M-0.3%-$520.4M+0.1%-$519.1M-0.8%-$521.6M-3.3%

ARAY Cash Flow Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

ARAY quarterly cash flow statement
MetricQ4'2610-KQ3'2610-QQ2'2610-QQ1'2610-Q/AQ4'2510-KQ3'2510-QQ2'2510-QQ1'2510-Q/A
Operating Cash Flow$2.4M+125.0%-$5.6M-131.0%-$16.0M-987.6%$12.2M+267.0%-$9.7M-198.2%$18.1M+322.9%$1.8M+135.4%-$7.3M+15.1%
Depreciation & Amortization$2.0M+26.7%$1.7M+13.3%$1.8M+20.0%$1.7M+14.5%$1.6M+6.0%$1.5M-6.3%$1.5M-3.0%$1.5M+17.0%
Stock-Based CompensationN/A$1.4M-49.8%$881K-61.4%$2.5M+6.9%N/A$2.7M+0.4%$2.3M-1.3%$2.4M-1.6%
Capital Expenditures$461K-65.1%$471K-50.8%$3.0M+246.1%$1.9M+70.0%$1.3M+183.9%$958K+20.5%$874K-30.0%$1.1M+2.6%
Free Cash Flow$2.0M+117.8%-$6.1M-135.5%-$19.0M-2150.8%$10.3M+222.1%-$11.0M-217.1%$17.1M+292.2%$927K+114.6%-$8.4M+13.1%
Investing Cash Flow-$1.4M+60.2%-$1.5M+38.1%-$5.6M-256.4%-$3.8M-241.4%-$3.4M-631.6%-$2.4M-205.8%-$1.6M-25.7%-$1.1M-2.6%
Financing Cash Flow$3.6M+162.0%$4.1M+305.5%-$282K-104.9%-$475K+78.1%-$5.8M-742.2%-$2.0M-33.3%$5.8M+2343.6%-$2.2M-44.9%

Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.

ARAY Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

ARAY quarterly financial ratios
MetricQ4'2610-KQ3'2610-QQ2'2610-QQ1'2610-Q/AQ4'2510-KQ3'2510-QQ2'2510-QQ1'2510-Q/A
Gross Margin35.2%+4.7pp24.1%-3.8pp23.5%-12.5pp28.3%-5.7pp30.6%+1.9pp27.9%-0.8pp36.1%+2.6pp33.9%-4.1pp
Operating Margin5.5%+2.1pp-8.7%-9.6pp-11.3%-15.4pp-12.0%-9.9pp3.3%-1.8pp0.9%+5.4pp4.0%+7.8pp-2.1%-4.3pp
Net Margin-1.9%-2.8pp-11.3%-10.1pp-13.5%-15.6pp-23.1%-19.2pp0.9%-1.6pp-1.1%+5.1pp2.2%+11.2pp-3.9%-1.0pp
Return on Equity-4.7%-6.0pp-28.3%-25.7pp-25.8%-31.1pp-35.0%-26.3pp1.4%-6.1pp-2.6%+12.8pp5.3%+25.5pp-8.7%-2.9pp
Return on Assets-0.4%-0.7pp-2.6%-2.4pp-3.1%-3.6pp-4.8%-3.9pp0.2%-0.5pp-0.3%+1.1pp0.5%+2.5pp-0.8%-0.2pp
Current Ratio1.50-0.1x1.42-0.2x1.47-0.2x1.56-0.1x1.650.0x1.64+0.1x1.620.0x1.630.0x
Debt-to-Equity3.51+2.0x3.21-0.1x2.34-1.2x2.06-1.5x1.52-2.1x3.35-0.7x3.510.0x3.59+0.3x
Asset Turnover0.230.0x0.230.0x0.230.0x0.210.0x0.270.0x0.230.0x0.240.0x0.210.0x
FCF Margin1.9%+10.6pp-5.8%-20.9pp-18.6%-19.4pp10.9%+19.2pp-8.6%-15.7pp15.1%+23.9pp0.8%+6.7pp-8.3%+1.0pp

Similar Companies

Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.

Company Fiscal year Revenue Net income Net margin Market cap Health score
Accuray Incorp ARAY FY2026 $401.9M -$49.2M -12.2% $29.0M 22/100
Sight Sciences, Inc. SGHT FY2025 $77.4M -$38.4M -49.7% $443.5M 56/100
Lensar Inc LNSR FY2025 $58.4M -$34.3M -58.7% $102.1M 41/100
BioSig Technologies Inc BSGM FY2025 N/A -$462.8M N/A $157.0M
908 Devices Inc. MASS FY2025 $56.2M $19.5M 34.7% $400.5M 58/100
Quanterix QTRX FY2025 $138.9M -$107.2M -77.2% $125.3M 41/100

Frequently Asked Questions

What is Accuray Incorp's annual revenue?

Accuray Incorp (ARAY) reported $401.9M in total revenue for fiscal year 2026. This represents a -12.3% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Accuray Incorp's revenue growing?

Accuray Incorp (ARAY) revenue declined by 12.3% year-over-year, from $458.5M to $401.9M in fiscal year 2026.

Is Accuray Incorp profitable?

No, Accuray Incorp (ARAY) reported a net income of -$49.2M in fiscal year 2026, with a net profit margin of -12.2%.

Accuray Incorp (ARAY) had EBITDA of -$18.5M in fiscal year 2026, measuring earnings before interest, taxes, depreciation, and amortization.

As of fiscal year 2026, Accuray Incorp (ARAY) had $40.6M in cash and equivalents against $146.4M in long-term debt.

Accuray Incorp (ARAY) had a gross margin of 27.7% in fiscal year 2026, indicating the percentage of revenue retained after direct costs of goods sold.

Accuray Incorp (ARAY) had an operating margin of -6.6% in fiscal year 2026, reflecting the profitability of core business operations before interest and taxes.

Accuray Incorp (ARAY) had a net profit margin of -12.2% in fiscal year 2026, representing the share of revenue converted into profit after all expenses.

Accuray Incorp (ARAY) has a return on equity of -118.0% for fiscal year 2026, measuring how efficiently the company generates profit from shareholder equity.

Accuray Incorp (ARAY) recorded an outflow of $12.8M in free cash flow during fiscal year 2026. This represents a -809.5% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

Accuray Incorp (ARAY) recorded an outflow of $7.0M in operating cash flow during fiscal year 2026, representing cash used by core business activities.

Accuray Incorp (ARAY) had $443.7M in total assets as of fiscal year 2026, including both current and long-term assets.

Accuray Incorp (ARAY) invested $5.9M in capital expenditures during fiscal year 2026, funding long-term assets and infrastructure.

Accuray Incorp (ARAY) invested $37.8M in research and development during fiscal year 2026.

Accuray Incorp (ARAY) had 119M shares outstanding as of fiscal year 2026.

Accuray Incorp (ARAY) had a current ratio of 1.50 as of fiscal year 2026, which is generally considered healthy.

Accuray Incorp (ARAY) had a debt-to-equity ratio of 3.51 as of fiscal year 2026, measuring the company's financial leverage by comparing total debt to shareholder equity.

Accuray Incorp (ARAY) had a return on assets of -11.1% for fiscal year 2026, measuring how efficiently the company uses its assets to generate profit.

Accuray Incorp (ARAY) has no price-to-earnings ratio at the moment: net loss, so no earnings multiple (FY2026). The market capitalization is $29.0M as of Sep 11, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

Accuray Incorp (ARAY) trades at 0.1x sales, its market capitalization divided by revenue of $401.9M revenue, FY2026. The market capitalization is $29.0M as of Sep 11, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

At the end of fiscal year 2026, Accuray Incorp (ARAY) held $40.6M in cash, cash equivalents and investments, and reported an operating cash outflow of $7.0M over that year. Dividing the one by the other, the reported balance equals about 70 months of the outflow reported that year. This is arithmetic over figures already filed, not a projection: it assumes nothing about future spending, financing or operations.

Accuray Incorp (ARAY) has an Altman Z-Score of -0.78, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.

Accuray Incorp (ARAY) has a Piotroski F-Score of 1 out of 9, indicating weak financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Accuray Incorp (ARAY) reported a net loss of $49.2M while operations used $7.0M of cash. With neither figure positive, the ratio between the two carries no quality signal. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Accuray Incorp (ARAY) reported an operating loss of $26.4M against $32.1M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.

Accuray Incorp (ARAY) scores 22 out of 100 on our Financial Health Score, indicating weak standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.

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