Accuray Incorporated

AI-generated fair value estimate for this company.

Method: Risk-adjusted 10-year unlevered FCF DCF: revenue held roughly flat (~2%/yr) off $401.95M TTM; FCF margin recovers slowly from -1% to 7% by yr10 as cost restructuring takes hold; 16% discount rate (reflects severe balance-sheet distress); 4% terminal growth; resulting enterprise value (~$121M) is then netted against $144.3M net debt and floored near zero to reflect residual equity option value; 119.44M shares outstanding.

Reasoning: Accuray (CyberKnife radiation-therapy systems) carries $182.4M debt against only $38.1M cash and negative, deteriorating FCF (-$12.84M FY26); a rigorous risk-adjusted DCF implies enterprise value close to or below net debt, consistent with the stock's penny-stock trading level and real going-concern risk.