Estados financieros detallados de Accuray Incorporated (ARAY): cuenta de resultados, balance general y flujo de caja. Sigue la evolución de márgenes, deuda, liquidez y rentabilidad año a año con hasta 20 años de histórico.
Resumen del Análisis
Accuray Incorporated registró ingresos de $401.9M en el último ejercicio fiscal, con un CAGR de 5 años del 0.3%.
Márgenes de los últimos 12 meses: margen bruto 27.7%, margen operativo -6.6%, margen neto -12.2%.
Al precio actual de $0.24, ARAY presenta beneficios negativos (P/E no significativo) y un ROE del -99.04%. La capitalización bursátil es de $29M.
Cuenta de Resultados (10 años)
| Año | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|
| Ingresos | $383.4M | $404.9M | $418.8M | $382.9M | $396.3M | $429.9M | $447.6M | $446.6M | $458.5M | $401.9M |
| Coste de Ventas | $242.1M | $243.2M | $256.1M | $233.2M | $236.8M | $270.0M | $293.6M | $303.6M | $311.5M | $290.5M |
| Beneficio Bruto | $141.3M | $161.7M | $162.7M | $149.7M | $159.5M | $160.0M | $154.0M | $142.9M | $147.0M | $111.5M |
| I+D | $49.9M | $57.3M | $56.5M | $49.8M | $52.7M | $57.8M | $57.1M | $49.7M | $47.9M | $37.8M |
| Generales y Administrativos | $101.2M | $108.2M | $105.6M | $87.4M | $84.5M | $94.1M | $94.4M | $92.7M | $91.2M | $84.0M |
| Gastos Operativos | $151.2M | $165.5M | $162.1M | $137.2M | $137.3M | $151.8M | $151.6M | $142.4M | $139.1M | $137.9M |
| Beneficio Operativo | -$9.8M | -$3.8M | -$9.9M | $12.5M | $22.2M | $8.1M | $2.4M | $504000 | $7.8M | -$26.4M |
| EBITDA | $6.8M | $1.7M | $11.1M | $31.3M | $18.7M | $11.6M | $8.4M | $5.7M | $20.2M | -$14.3M |
| Gastos por Intereses | $17.3M | $15.0M | $15.1M | $18.1M | $16.9M | $8.1M | $10.6M | $11.6M | $13.0M | $35.3M |
| Beneficio Antes de Impuestos | -$28.5M | -$23.0M | -$14.3M | $5.7M | -$4.6M | -$2.0M | -$6.8M | -$11.8M | $1.1M | -$47.2M |
| Impuestos | $1.0M | $878000 | $2.1M | $1.9M | $1.8M | $3.3M | $2.5M | $3.7M | $2.7M | $1.9M |
| Beneficio Neto | -$29.6M | -$23.9M | -$16.4M | $3.8M | -$6.3M | -$5.3M | -$9.3M | -$15.5M | -$1.6M | -$49.2M |
| BPA | $-0.36 | $-0.28 | $-0.19 | $0.04 | $-0.07 | $-0.06 | $-0.10 | $-0.16 | $-0.02 | $-0.40 |
| BPA Diluido | $-0.36 | $-0.28 | $-0.19 | $0.04 | $-0.07 | $-0.06 | $-0.10 | $-0.16 | $-0.02 | $-0.40 |
| Acciones en Circulación (Diluidas) | $82.5M | $84.9M | $87.5M | $90.6M | $92.0M | $92.1M | $94.9M | $98.3M | $102.8M | $122.6M |
Cuenta de Resultados (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Ingresos | $93.9M | $102.2M | $104.8M | $100.9M |
| Beneficio Bruto | $26.5M | $24.1M | $25.3M | $35.5M |
| Beneficio Operativo | -$11.3M | -$5.5M | -$2.5M | -$7.1M |
| EBITDA | -$10.3M | -$3.3M | -$813000 | $71000 |
| Beneficio Neto | -$21.7M | -$13.8M | -$11.8M | -$1.9M |
| BPA | $-0.18 | $-0.11 | $-0.09 | $-0.02 |
| BPA Diluido | $-0.18 | $-0.11 | $-0.09 | $-0.02 |
Balance (10 años)
| Año | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|
| Caja y Equivalentes | $72.1M | $83.1M | $76.8M | $107.6M | $116.4M | $88.7M | $89.4M | $68.6M | $57.4M | $41.2M |
| Inversiones a Corto | $23.9M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cuentas por Cobrar | $72.8M | $66.0M | $111.9M | $90.6M | $85.4M | $101.5M | $87.3M | $98.9M | $97.9M | $67.4M |
| Inventario | $105.1M | $108.5M | $120.8M | $134.4M | $125.9M | $142.3M | $145.2M | $138.3M | $141.0M | $147.1M |
| Activos Corrientes | $309.0M | $284.2M | $344.1M | $357.5M | $352.8M | $350.9M | $338.0M | $323.2M | $317.5M | $287.5M |
| Inmovilizado Material | $23.1M | $23.7M | $17.1M | $44.0M | $34.9M | $29.5M | $46.8M | $58.5M | $61.8M | $54.8M |
| Fondo de Comercio | $57.8M | $57.9M | $57.8M | $57.7M | $58.0M | $57.8M | $57.7M | $57.7M | $57.8M | $57.9M |
| Activos Intangibles | $964000 | $821000 | $679000 | $663000 | $435000 | $250000 | $210000 | $59000 | $15000 | 0 |
| Activos Totales | $406.5M | $378.7M | $438.2M | $490.9M | $480.1M | $472.8M | $479.2M | $468.6M | $470.2M | $443.7M |
| Cuentas por Pagar | $17.5M | $19.7M | $29.6M | $23.1M | $19.5M | $31.3M | $33.7M | $50.0M | $34.0M | $40.6M |
| Deuda a Corto | $113.0M | 0 | 0 | 0 | $3.8M | $8.6M | $5.7M | $7.8M | $12.7M | $9.7M |
| Pasivos Corrientes | $284.5M | $169.4M | $192.2M | $182.3M | $192.4M | $208.9M | $198.6M | $195.3M | $192.6M | $191.4M |
| Deuda a Largo | $51.5M | $131.1M | $159.8M | $189.3M | $170.0M | $171.9M | $171.6M | $164.4M | $123.8M | $146.4M |
| Pasivos Totales | $359.9M | $330.1M | $388.3M | $427.3M | $411.3M | $419.7M | $425.6M | $423.5M | $389.1M | $402.0M |
| Reservas | -$450.4M | -$474.3M | -$485.5M | -$481.7M | -$488.0M | -$492.5M | -$502.1M | -$517.7M | -$519.3M | -$568.5M |
| Patrimonio Neto | $46.5M | $48.6M | $49.9M | $63.6M | $68.8M | $53.2M | $53.7M | $45.1M | $81.2M | $41.7M |
| Deuda Total | $164.6M | $131.1M | $159.8M | $221.7M | $199.4M | $199.5M | $205.0M | $210.7M | $176.4M | $183.9M |
| Deuda Neta | $68.6M | $48.0M | $83.0M | $114.1M | $83.0M | $110.8M | $115.6M | $142.2M | $119.0M | $142.6M |
| Capital Circulante | $24.5M | $114.7M | $151.9M | $175.2M | $160.4M | $142.0M | $139.4M | $128.0M | $124.9M | $96.1M |
Balance (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Caja y Equivalentes | $63.9M | $41.3M | $38.1M | $40.6M |
| Activos Totales | $456.8M | $448.0M | $447.6M | $443.7M |
| Pasivos Totales | $394.9M | $394.6M | $405.9M | $402.0M |
| Patrimonio Neto | $61.9M | $53.4M | $41.7M | $41.7M |
| Deuda Total | $179.1M | $204.4M | $182.4M | $183.9M |
Flujo de Caja (10 años)
| Año | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|
| Beneficio Neto | -$29.6M | -$23.9M | -$16.4M | $3.8M | -$6.3M | -$5.3M | -$9.3M | -$15.5M | -$1.6M | -$49.2M |
| Amortizaciones | $18.0M | $9.7M | $10.5M | $7.5M | $6.4M | $5.5M | $4.5M | $5.9M | $6.2M | $7.9M |
| Compensación en Acciones | $13.6M | $12.3M | $10.6M | $8.2M | $9.3M | $10.6M | $10.1M | $9.5M | $10.2M | $6.5M |
| Cambio en Capital Circulante | -$12.5M | $10.0M | -$46.7M | -$21.9M | $7.8M | -$22.6M | $4.6M | -$21.9M | -$18.2M | $11.9M |
| Flujo de Caja Operativo | -$380000 | $18.3M | -$29.6M | -$1.5M | $38.5M | -$2.4M | $15.5M | -$11.9M | $2.9M | -$7.0M |
| Inversiones (CapEx) | -$5.4M | -$6.6M | -$4.3M | -$3.7M | -$2.3M | -$4.7M | -$12.7M | -$3.6M | -$8.5M | -$5.9M |
| Adquisiciones | $333000 | $333000 | 0 | 0 | -$79000 | 0 | 0 | 0 | 0 | 0 |
| Recompra de Acciones | -$1.4M | -$293000 | 0 | 0 | -$14.1M | 0 | 0 | 0 | 0 | 0 |
| Dividendos Pagados | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Flujo de Caja Libre | -$5.7M | $11.7M | -$34.0M | -$5.2M | $36.2M | -$7.1M | $2.9M | -$15.5M | -$5.7M | -$12.8M |
Flujo de Caja (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Flujo de Caja Operativo | $12.2M | -$16.0M | -$5.6M | $2.4M |
| Inversiones (CapEx) | -$3.8M | -$1.1M | -$1.5M | -$461000 |
| Flujo de Caja Libre | $8.4M | -$17.1M | -$7.1M | $2.0M |
| Dividendos Pagados | 0 | 0 | 0 | 0 |
| Compensación en Acciones | $2.5M | $882000 | $1.4M | $1.7M |
Crecimiento y Márgenes (10 años)
| Año | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|
| Crecimiento Ingresos (anual) | | +5.6% | +3.4% | -8.6% | +3.5% | +8.5% | +4.1% | -0.2% | +2.7% | -12.3% |
| Crecimiento Beneficio Neto (anual) | | +19.2% | +31.3% | +123.3% | -264.9% | +15.3% | -73.6% | -67.5% | +89.8% | -2992.0% |
| Crecimiento BPA (anual) | | +22.2% | +32.1% | +122.4% | -261.0% | +15.3% | -68.3% | -63.6% | +90.3% | -2480.6% |
| Cambio en Acciones (anual) | | +2.9% | +3.0% | +3.6% | +1.6% | +0.1% | +3.0% | +3.6% | +4.6% | +19.3% |
| Crecimiento FCF (anual) | | +304.1% | -389.6% | +84.7% | +796.4% | -119.7% | +140.2% | -642.5% | +63.5% | -126.8% |
| Margen Bruto | 36.9% | 39.9% | 38.8% | 39.1% | 40.3% | 37.2% | 34.4% | 32.0% | 32.1% | 27.7% |
| Margen Operativo | -2.6% | -0.9% | -2.4% | 3.3% | 5.6% | 1.9% | 0.5% | 0.1% | 1.7% | -6.6% |
| Margen EBITDA | 1.8% | 0.4% | 2.6% | 8.2% | 4.7% | 2.7% | 1.9% | 1.3% | 4.4% | -3.6% |
| Margen Neto | -7.7% | -5.9% | -3.9% | 1.0% | -1.6% | -1.2% | -2.1% | -3.5% | -0.3% | -12.2% |
| Margen FCF | -1.5% | 2.9% | -8.1% | -1.4% | 9.1% | -1.7% | 0.6% | -3.5% | -1.2% | -3.2% |
| Tasa Impositiva Efectiva | -3.6% | -3.8% | -14.5% | 32.7% | -38.4% | -167.1% | -36.7% | -31.5% | 240.3% | -4.1% |
Datos por Acción (10 años)
| Año | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|
| FCF por Acción | $-0.07 | $0.14 | $-0.39 | $-0.06 | $0.39 | $-0.08 | $0.03 | $-0.16 | $-0.06 | $-0.10 |
| Dividendo por Acción | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| Acciones en Circulación (Básicas) | $82.5M | $84.9M | $87.5M | $89.9M | $92.0M | $92.1M | $94.9M | $98.3M | $102.8M | $122.6M |
Qué mirar en Salud / Farma
El pipeline de I+D es el activo invisible. Patentes que caducan = ingresos que evaporan. Mira innovación y flujo de caja.
- I+D / Ingresos — Indica inversión en pipeline futuro. Farma seria reinvierte 15-20%
- Crecimiento EPS 5y — Tras caducidad de patentes, ¿siguen creciendo?
- Margen bruto — Farma de marca >70%. Genéricos mucho más bajo — define el tipo de negocio
- FCF / Net Income — Calidad del beneficio — farma grande debería convertir >90%
- ROIC — Capital reinvertido con eficiencia — clave en farma por ciclos de I+D largos
- Deuda neta / EBITDA — Adquisiciones de farma generan mucha deuda — ojo al post-M&A
- P/E vs historial 10y propio — La mejor comparación es con su propia historia, no con competidores
Rentabilidad
| Rentabilidad sobre capital | -99.04% |
| Rentabilidad sobre capital invertido | -10.09% |
| Rentabilidad sobre activos | -11.09% |
| Margen bruto | 27.73% |
| Margen operativo | -6.58% |
| Margen neto | -12.24% |
Salud financiera
| Deuda / Patrimonio | 4.41 |
| Ratio corriente | 1.50 |
Ratios Clave (10 años)
| Año | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|
| P/E | -13.19 | -14.64 | -20.58 | 47.65 | -65.89 | -33.73 | -39.57 | -11.00 | -88.39 | -0.64 |
| P/VC | 8.42 | 7.16 | 6.86 | 2.87 | 6.04 | 3.39 | 6.84 | 3.84 | 1.73 | 0.76 |
| P/V | 1.02 | 0.86 | 0.82 | 0.48 | 1.05 | 0.42 | 0.82 | 0.39 | 0.31 | 0.08 |
| Margen Bruto | 36.9% | 39.9% | 38.8% | 39.1% | 40.3% | 37.2% | 34.4% | 32.0% | 32.1% | 27.7% |
| Margen Operativo | -2.6% | -0.9% | -2.4% | 3.3% | 5.6% | 1.9% | 0.5% | 0.1% | 1.7% | -6.6% |
| Margen Neto | -7.7% | -5.9% | -3.9% | 1.0% | -1.6% | -1.2% | -2.1% | -3.5% | -0.3% | -12.2% |