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Stock Comparison

NBTX vs ARAY

Revenue, margins, valuation, and 5-year total return — side by side.

Live fundamentals10-year financials5-year price chart
NBTX
Nanobiotix S.A.

Biotechnology

HealthcareNASDAQ • FR
Market Cap$2.06B
5Y Perf.+158.2%
ARAY
Accuray Incorporated

Medical - Devices

HealthcareNASDAQ • US
Market Cap$35M
5Y Perf.-93.0%

NBTX vs ARAY — Key Financials

Market cap, revenue, margins, and valuation side-by-side.

Company Snapshot
NBTX logoNBTX
ARAY logoARAY
IndustryBiotechnologyMedical - Devices
Market Cap$2.06B$35M
Revenue (TTM)$48M$429M
Net Income (TTM)$-85M$-46M
Gross Margin100.0%26.8%
Operating Margin-143.9%-5.1%
Total Debt$51M$176M
Cash & Equiv.$50M$57M

NBTX vs ARAYLong-Term Stock Performance

Price return indexed to 100 at period start. Dividends excluded.

NBTX
ARAY
StockDec 20May 26Return
Nanobiotix S.A. (NBTX)100258.2+158.2%
Accuray Incorporated (ARAY)1007.0-93.0%

Price return only. Dividends and distributions are not included.

Quick Verdict: NBTX vs ARAY

Each card shows where this stock fits in a portfolio — not just who wins on paper.

Bottom line: ARAY leads in 3 of 6 categories, making it the strongest pick for growth and revenue expansion and profitability and margin quality. Nanobiotix S.A. is the stronger pick specifically for capital preservation and lower volatility and recent price momentum and sentiment. As sector peers, any of these can serve as alternatives in the same allocation.
NBTX
Nanobiotix S.A.
The Income Pick

NBTX is the clearest fit if your priority is income & stability and long-term compounding.

  • beta 1.81
  • 150.9% 10Y total return vs ARAY's -94.5%
  • Lower volatility, beta 1.81, current ratio 1.04x
Best for: income & stability and long-term compounding
ARAY
Accuray Incorporated
The Growth Play

ARAY carries the broadest edge in this set and is the clearest fit for growth exposure.

  • Rev growth 2.7%, EPS growth 90.3%, 3Y rev CAGR 2.2%
  • 2.7% revenue growth vs NBTX's -132.1%
  • -10.8% margin vs NBTX's -177.5%
Best for: growth exposure
See the full category breakdown
CategoryWinnerWhy
GrowthARAY logoARAY2.7% revenue growth vs NBTX's -132.1%
Quality / MarginsARAY logoARAY-10.8% margin vs NBTX's -177.5%
Stability / SafetyNBTX logoNBTXBeta 1.81 vs ARAY's 2.42
DividendsTieNeither stock pays a meaningful dividend
Momentum (1Y)NBTX logoNBTX+11.9% vs ARAY's -78.4%
Efficiency (ROA)ARAY logoARAY-10.1% ROA vs NBTX's -188.4%

NBTX vs ARAY — Revenue Breakdown by Segment

How each company's revenue is distributed across its business units

NBTXNanobiotix S.A.
FY 2024
Other Sales
0.0%$6M
Services
0.0%$-17,534,000
ARAYAccuray Incorporated
FY 2025
Product
51.8%$238M
Service
48.2%$221M

NBTX vs ARAY — Financial Metrics

Side-by-side numbers across 2 stocks — who leads on profitability, valuation, growth, and risk.

BEST OVERALLNBTXLAGGINGARAY

Income & Cash Flow (Last 12 Months)

Evenly matched — NBTX and ARAY each lead in 3 of 6 comparable metrics.

ARAY is the larger business by revenue, generating $429M annually — 8.9x NBTX's $48M. ARAY is the more profitable business, keeping -10.8% of every revenue dollar as net income compared to NBTX's -177.5%. On growth, NBTX holds the edge at +186.8% YoY revenue growth, suggesting stronger near-term business momentum.

MetricNBTX logoNBTXNanobiotix S.A.ARAY logoARAYAccuray Incorpora…
RevenueTrailing 12 months$48M$429M
EBITDAEarnings before interest/tax-$67M-$15M
Net IncomeAfter-tax profit-$85M-$46M
Free Cash FlowCash after capex-$33M-$28M
Gross MarginGross profit ÷ Revenue+100.0%+26.8%
Operating MarginEBIT ÷ Revenue-143.9%-5.1%
Net MarginNet income ÷ Revenue-177.5%-10.8%
FCF MarginFCF ÷ Revenue-69.2%-6.5%
Rev. Growth (YoY)Latest quarter vs prior year+186.8%-7.4%
EPS Growth (YoY)Latest quarter vs prior year+76.1%-6.1%
Evenly matched — NBTX and ARAY each lead in 3 of 6 comparable metrics.

Valuation Metrics

NBTX leads this category, winning 1 of 1 comparable metric.
MetricNBTX logoNBTXNanobiotix S.A.ARAY logoARAYAccuray Incorpora…
Market CapShares × price$2.1B$35M
Enterprise ValueMkt cap + debt − cash$2.1B$154M
Trailing P/EPrice ÷ TTM EPS-25.18x-18.91x
Forward P/EPrice ÷ next-FY EPS est.
PEG RatioP/E ÷ EPS growth rate
EV / EBITDAEnterprise value multiple10.99x
Price / SalesMarket cap ÷ Revenue0.08x
Price / BookPrice ÷ Book value/share0.37x
Price / FCFMarket cap ÷ FCF
NBTX leads this category, winning 1 of 1 comparable metric.

Profitability & Efficiency

ARAY leads this category, winning 4 of 6 comparable metrics.

On the Piotroski fundamental quality scale (0–9), ARAY scores 6/9 vs NBTX's 1/9, reflecting solid financial health.

MetricNBTX logoNBTXNanobiotix S.A.ARAY logoARAYAccuray Incorpora…
ROE (TTM)Return on equity-77.5%
ROA (TTM)Return on assets-188.4%-10.1%
ROICReturn on invested capital+3.0%
ROCEReturn on capital employed-2.6%+2.8%
Piotroski ScoreFundamental quality 0–916
Debt / EquityFinancial leverage2.17x
Net DebtTotal debt minus cash$1M$119M
Cash & Equiv.Liquid assets$50M$57M
Total DebtShort + long-term debt$51M$176M
Interest CoverageEBIT ÷ Interest expense-3.83x-1.86x
ARAY leads this category, winning 4 of 6 comparable metrics.

Total Returns (Dividends Reinvested)

NBTX leads this category, winning 6 of 6 comparable metrics.

A $10,000 investment in NBTX five years ago would be worth $28,294 today (with dividends reinvested), compared to $606 for ARAY. Over the past 12 months, NBTX leads with a +1191.2% total return vs ARAY's -78.4%. The 3-year compound annual growth rate (CAGR) favors NBTX at 99.6% vs ARAY's -56.6% — a key indicator of consistent wealth creation.

MetricNBTX logoNBTXNanobiotix S.A.ARAY logoARAYAccuray Incorpora…
YTD ReturnYear-to-date+92.5%-65.5%
1-Year ReturnPast 12 months+1191.2%-78.4%
3-Year ReturnCumulative with dividends+695.0%-91.8%
5-Year ReturnCumulative with dividends+182.9%-93.9%
10-Year ReturnCumulative with dividends+150.9%-94.5%
CAGR (3Y)Annualised 3-year return+99.6%-56.6%
NBTX leads this category, winning 6 of 6 comparable metrics.

Risk & Volatility

NBTX leads this category, winning 2 of 2 comparable metrics.

NBTX is the less volatile stock with a 1.81 beta — it tends to amplify market swings less than ARAY's 2.42 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. NBTX currently trades 95.8% from its 52-week high vs ARAY's 14.0% drawdown — a narrower gap to the peak suggests stronger recent price momentum.

MetricNBTX logoNBTXNanobiotix S.A.ARAY logoARAYAccuray Incorpora…
Beta (5Y)Sensitivity to S&P 5001.81x2.42x
52-Week HighHighest price in past year$44.46$2.10
52-Week LowLowest price in past year$3.26$0.28
% of 52W HighCurrent price vs 52-week peak+95.8%+14.0%
RSI (14)Momentum oscillator 0–10068.258.4
Avg Volume (50D)Average daily shares traded75K1.4M
NBTX leads this category, winning 2 of 2 comparable metrics.

Analyst Outlook

Insufficient data to determine a leader in this category.
MetricNBTX logoNBTXNanobiotix S.A.ARAY logoARAYAccuray Incorpora…
Analyst RatingConsensus buy/hold/sellBuy
Price TargetConsensus 12-month target$28.00
# AnalystsCovering analysts2
Dividend YieldAnnual dividend ÷ price
Dividend StreakConsecutive years of raises
Dividend / ShareAnnual DPS
Buyback YieldShare repurchases ÷ mkt cap0.0%0.0%
Insufficient data to determine a leader in this category.
Key Takeaway

NBTX leads in 3 of 6 categories (Valuation Metrics, Total Returns). ARAY leads in 1 (Profitability & Efficiency). 1 tied.

Best OverallNanobiotix S.A. (NBTX)Leads 3 of 6 categories
Loading custom metrics...

NBTX vs ARAY: Frequently Asked Questions

8 questions · data-driven answers · updated daily

01

Is NBTX or ARAY a better buy right now?

For growth investors, Accuray Incorporated (ARAY) is the stronger pick with 2.

7% revenue growth year-over-year, versus -132. 1% for Nanobiotix S. A. (NBTX). Analysts rate Nanobiotix S. A. (NBTX) a "Buy" — based on 2 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.

02

Which is the better long-term investment — NBTX or ARAY?

Over the past 5 years, Nanobiotix S.

A. (NBTX) delivered a total return of +182. 9%, compared to -93. 9% for Accuray Incorporated (ARAY). Over 10 years, the gap is even starker: NBTX returned +150. 9% versus ARAY's -94. 5%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.

03

Which is safer — NBTX or ARAY?

By beta (market sensitivity over 5 years), Nanobiotix S.

A. (NBTX) is the lower-risk stock at 1. 81β versus Accuray Incorporated's 2. 42β — meaning ARAY is approximately 33% more volatile than NBTX relative to the S&P 500.

04

Which is growing faster — NBTX or ARAY?

By revenue growth (latest reported year), Accuray Incorporated (ARAY) is pulling ahead at 2.

7% versus -132. 1% for Nanobiotix S. A. (NBTX). On earnings-per-share growth, the picture is similar: Accuray Incorporated grew EPS 90. 3% year-over-year, compared to -33. 3% for Nanobiotix S. A.. Higher growth typically commands a higher valuation multiple — check whether the premium P/E or P/S is justified by the growth rate using the PEG ratio.

05

Which has better profit margins — NBTX or ARAY?

Nanobiotix S.

A. (NBTX) is the more profitable company, earning 586. 9% net margin versus -0. 3% for Accuray Incorporated — meaning it keeps 586. 9% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: NBTX leads at 589. 1% versus 1. 7% for ARAY. At the gross margin level — before operating expenses — NBTX leads at 100. 0%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.

06

Which pays a better dividend — NBTX or ARAY?

None of the stocks in this comparison currently pay a material dividend.

All are effectively zero-yield and should be held for capital appreciation rather than income.

07

Is NBTX or ARAY better for a retirement portfolio?

For long-horizon retirement investors, Nanobiotix S.

A. (NBTX) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (+150. 9% 10Y return). Accuray Incorporated (ARAY) carries a higher beta of 2. 42 — meaning larger drawdowns in market downturns, which matters significantly when you cannot wait years for a recovery. Both have compounded well over 10 years (NBTX: +150. 9%, ARAY: -94. 5%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.

08

What are the main differences between NBTX and ARAY?

Both stocks operate in the Healthcare sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both.

These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.

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NBTX

High-Growth Disruptor

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  • Market Cap > $100B
  • Revenue Growth > 93%
  • Gross Margin > 60%
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ARAY

Quality Business

  • Sector: Healthcare
  • Market Cap > $100B
  • Gross Margin > 16%
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