ViewRay Inc. (VRAYQ) fair value: what the stock is really worth
As of Sep 23, 2026: fair value of ViewRay Inc. $0.00, price $0.00, upside +0.0%, quality 34 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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ViewRay Systems, Inc. designs, manufactures, and markets magnetic resonance imaging radiation therapy system in the United States and internationally. The company offers MRIdian A3i, an MRI-guided radiation therapy system that provides real-time 3D tissue tracking and automated beam control.
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ViewRay Systems, Inc. designs, manufactures, and markets magnetic resonance imaging radiation therapy system in the United States and internationally. The company offers MRIdian A3i, an MRI-guided radiation therapy system that provides real-time 3D tissue tracking and automated beam control. Its product is used for the treatment of pancreas, prostate, lung, liver, breast, and oligometastatic cancers. The company was founded in 2004 and is headquartered in Oakwood, Ohio. On July 16, 2023, ViewRay, Inc., along with its affiliate, filed a voluntary petition for reorganization under Chapter 11 in the U.S. Bankruptcy Court for the District of Delaware. On October 26, 2023, the voluntary petition of ViewRay, Inc. for reorganization under Chapter 11 was converted to Chapter 7. It had filed for Chapter 11 bankruptcy on July 16, 2023.
Stock analysis
ViewRay Inc. (VRAYQ) currently trades at $0.0001, while our model-based Fair Value estimate is $0.0001, implying the stock looks roughly 0.0% fairly valued today.
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Valuation
How firm this estimate is: it rests on 1 models at a data quality of 88/100, which puts the evidence level at low.
Quality & growth
The Quality Score stands at 34/100 (below-average quality), in the Healthcare sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
ViewRay Inc. reported revenue of $102M in FY2022 versus $81.0M in FY2018, a compound +6.0%/yr. Reported net income was −$107M in FY2022.
Key figures
Market cap $18.1K · EPS (TTM) $−6.10 · Net margin −105% · Return on equity −109% · Return on assets (EBIT) −34.4% · Operating margin −132% · Revenue (TTM) $106M · Revenue growth (YoY) +19.4%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 22 out of 100 (medium confidence).
What moves the price
For context, the median of 10 Healthcare peers we cover trades at 5% fair-value upside, at 0%, VRAYQ screens richer than that median.
Fair Value models
Bear $0.0001Fair Value $0.0001Bull $0.0001
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target.Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.36/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+45.8%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+5.2%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+24.6%
Revenue growth 10 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+49.3%
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Profit margin (trend) ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.
−141.5% (2017) → −104.8% (2022)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2022 is a loss year, no rate is defined from a loss
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Medical Devices · 365 stocks
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "ViewRay Inc. Fair Value". https://www.fairvalue-calculator.com/stock/VRAYQ
Frequently asked questions
Is ViewRay Inc. (VRAYQ) overvalued or undervalued?
As of Sep 23, 2026, our model estimates a fair value of $0.0001 versus a price of $0.0001, about +0% upside (fairly valued).
What is the fair value of VRAYQ?
Our model-based fair value for ViewRay Inc. is $0.0001 (as of Sep 23, 2026), built from audited fundamentals. The current price: $0.0001.
What is the quality score of VRAYQ?
ViewRay Inc. has a Quality Score of 34/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for ViewRay Inc. (VRAYQ)?
Our model-based price target is the fair value of $0.0001 (as of Sep 23, 2026) from 1 valuation models. It is a calculation from audited fundamentals, not an analyst target.
What is the ViewRay Inc. stock forecast for 2026?
Our models put fair value at $0.0001, about +0% upside versus a price of $0.0001 (fairly valued). The calculation is refreshed regularly with new filings.
What is the revenue of ViewRay Inc. (VRAYQ)?
ViewRay Inc. reported trailing-twelve-month revenue of about $106M (latest available figure, as of Sep 23, 2026).
What is the intrinsic value of ViewRay Inc. (VRAYQ)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For ViewRay Inc. it is $0.0001 per share (as of Sep 23, 2026), against a price of $0.0001. It is the blended result of 1 valuation models (cash flow, earnings, asset, dividend).
Is ViewRay Inc. stock overvalued or undervalued in 2026?
As of Sep 23, 2026, VRAYQ trades below its calculated fair value: price $0.0001, fair value $0.0001, a gap of about +0% (fairly valued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of VRAYQ?
No. The price is what the market pays today ($0.0001); the fair value is what the company's own numbers justify ($0.0001). For ViewRay Inc. the two are $0.0000 per share apart. That gap is exactly why we show both numbers side by side.
How much is ViewRay Inc. worth?
The market values ViewRay Inc. at about $18.1K (market capitalisation, as of Sep 23, 2026). Per share that is $0.0001; our models calculate a fair value of $0.0001 per share.
How solid is the balance sheet of ViewRay Inc. (VRAYQ)?
Balance-sheet figures for ViewRay Inc. (as of Sep 23, 2026): return on equity −108.9%, debt of 0.95 per unit of equity. They feed the Quality Score of 34/100, which measures business quality independently of the share price.
Which stocks are comparable to ViewRay Inc.?
From the same area (Healthcare) we also value Abbott Laboratories,, Stryker Corporation, Medtronic plc, Boston Scientific Corporation, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is ViewRay Inc. stock attractive at the current price?
The data as of Sep 23, 2026: price $0.0001, calculated fair value $0.0001 (+0%), Quality Score 34/100, from 1 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of VRAYQ calculated?
We run ViewRay Inc. through 1 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of $0.0001, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 13.0 % above its aggregate fair value. ViewRay Inc. itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of ViewRay Inc. (VRAYQ)?
The closing price on Sep 23, 2026 was $0.0001. Our model-based fair value is $0.0001, about +0% upside (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with ViewRay Inc. right now?
The price sits close to our fair value, market and models broadly agree here, little valuation tension. Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.
Key figures of ViewRay Inc.
How large is the market capitalisation of ViewRay Inc. (VRAYQ)?
The market capitalisation of ViewRay Inc. is $18.1K. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What are the earnings per share of ViewRay Inc. (VRAYQ)?
Earnings per share at ViewRay Inc. are $−6.10. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of ViewRay Inc. (VRAYQ)?
The net margin of ViewRay Inc. is −105% (fiscal year 2022). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of ViewRay Inc. (VRAYQ)?
The return on equity (ROE) of ViewRay Inc. is −109% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of ViewRay Inc. (VRAYQ)?
On an EBIT basis the return on assets of ViewRay Inc. is −34.4% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of ViewRay Inc. (VRAYQ)?
The operating margin of ViewRay Inc. is −132% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at ViewRay Inc. (VRAYQ)?
Revenue at ViewRay Inc. is growing +19.4% versus a year earlier (3y avg +5.2%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How much free cash flow does ViewRay Inc. (VRAYQ) generate?
The free cash flow of ViewRay Inc. is −$95.6M (fiscal year 2022). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net cash does ViewRay Inc. (VRAYQ) hold?
ViewRay Inc. holds more cash than debt, $49.6M net (fiscal year 2022). The company holds more cash than debt, a safety cushion.
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Thin data
Sep 23, 2026