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RaySearch Laboratories AB (publ) (RAY-B.ST)
Stockholm, SE
RaySearch Laboratories AB (publ) is a global medical technology company dedicated to developing cutting-edge software solutions for cancer treatment. Its principal offering, RayStation, is a sophisticated treatment planning system that supports a vast range of clinical activities. These capabilities include automated planning, adaptive therapy, multi-criteria optimization, rapid and accurate dose calculations, OAR dose reduction, robustness modeling, machine learning integration, and support for advanced radiation modalities such as VMAT, IMRT, 3D-CRT, virtual simulation, electron beam therapy, tomotherapy, stereotactic treatments, proton therapy, carbon ion therapy, and boron neutron capture therapy. The company also offers RayPlan, another treatment planning system specifically designed for various radiation therapy methods including 3D-CRT, IMRT, VMAT, tomotherapy, and electron beam radiation therapy. For managing oncology workflows, RayCare serves as a dedicated information system. Additionally, RaySearch provides RayCommand, a flexible treatment control system compatible with diverse hardware and designed to manage advanced functionalities of treatment machines and software. To leverage patient data, its cloud-based oncology analytics system, RayIntelligence, converts raw information into valuable insights. RaySearch Laboratories AB (publ) further provides training courses for its products and is headquartered in Stockholm, Sweden.
No mergers or acquisitions recorded for this company.
| Indicator | 1D | 1W | 2W | 3W | 1M |
|---|
Day Score & sub-scores
Statistical fingerprint & regime detail
Conditional historical analysis
Customize analysis (advanced)
| 1D | 5D | 1M | 3M | 6M | YTD | 1Y | 3Y | 5Y | 10Y | Max |
|---|---|---|---|---|---|---|---|---|---|---|
| -0.96% | -9.37% | -11.48% | +3.92% | -21.70% | -20.27% | -43.73% | +136.17% | +112.12% | +51.84% | +2,727.14% |
Revenue flow
Revenue by geography
Revenue by segment
Revenue composition
By product
By geography
Income Statement
Balance Sheet
Cash Flow Statement
Key Metrics
Financial Ratios
Employees
Financial Growth (CAGR)
Market Data
DCF figures are point estimates: small changes in growth or discount-rate assumptions move them materially. Read them as a reference, not a precise target.
| Rating | 2026-05 | Change |
|---|---|---|
| Strong Buy | 0 | 0 |
| Buy | 1 | 0 |
| Hold | 0 | 0 |
| Sell | 0 | 0 |
| Strong Sell | 0 | 0 |
-
Revenue growth Medical - Healthcare Information Services: +14.2%+12.8% Q1'26: -12.5% (vs Q1'25)
-
EPS growth Medical - Healthcare Information Services: +43.1%+12.0% Q1'26: -6.6% (vs Q1'25)
-
FCF margin FCF growth · Medical - Healthcare Information Services: +49.2%+28.2% Q1'26: +37.9% (vs Q1'25)
-
EBIT margin Medical - Healthcare Information Services: +8.8%+23.9% ★ Q1'26: +18.6% (vs Q1'25)
-
ROIC Medical - Healthcare Information Services: +5.2%+26.2% ★ Q1'26: +17.2% (vs Q1'25)
-
Share dilution Medical - Healthcare Information Services: -0.1%-0.1% ★ Q1'26: 0.0% (vs Q1'25)
-
Debt / EBITDA Net debt/EBITDA · Medical - Healthcare Information Services: -0.74×0.64× Q1'26: 0.77× (vs Q1'25)
* These projections are based on analyst consensus estimates and user-defined valuation multiples. This table is for informational purposes only and does not constitute a recommendation to buy or sell any security. Past performance is not indicative of future results.
| Metric |
Dec 2015 actual |
Dec 2016 actual |
Dec 2017 actual |
Dec 2018 actual |
Dec 2019 actual |
Dec 2020 actual |
Dec 2021 actual |
Dec 2022 actual |
Dec 2023 actual |
Dec 2024 actual |
Dec 2025 actual |
Dec 2026 1 Rev. Ana. 1 EPS Ana. |
Dec 2027 1 Rev. Ana. 1 EPS Ana. |
Dec 2028 1 Rev. Ana. 1 EPS Ana. |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue |
397.60M
est: 413.61M (-3.9%)
|
531.47M
est: 523.67M (+1.5%)
|
585.09M
est: 568.46M (+2.9%)
|
627.22M
est: 628.10M (-0.1%)
|
741.58M
est: 739.01M (+0.3%)
|
651.61M
est: 714.00M (-8.7%)
|
641.67M
est: 629.00M (+2.0%)
|
843.65M
est: 811.00M (+4.0%)
|
1.02B
est: 1.02B (+0.4%)
|
1.19B
est: 1.20B (-0.3%)
|
1.34B
est: 1.31B (+2.9%)
|
1.41B
1.41B – 1.41B
+8.1% YoY
|
1.57B
1.57B – 1.57B
+11.2% YoY
|
1.76B
1.74B – 1.78B
+11.8% YoY
|
| EBITDA |
145.62M
est: 140.99M (+3.3%)
|
266.93M
est: 178.50M (+49.5%)
|
230.83M
est: 193.77M (+19.1%)
|
112.97M
est: 214.10M (-47.2%)
|
138.31M
est: 251.90M (-45.1%)
|
75.82M
est: 243.38M (-68.8%)
|
197.36M
est: 214.41M (-7.9%)
|
340.85M
est: 276.44M (+23.3%)
|
405.94M
est: 347.00M (+17.0%)
|
571.29M
est: 717.93M (-20.4%)
|
612.80M
est: 784.26M (-21.9%)
|
847.89M
847.89M – 847.89M
+8.1% YoY
|
943.04M
943.04M – 943.04M
+11.2% YoY
|
1.05B
1.04B – 1.07B
+11.8% YoY
|
| EBIT |
95.62M
est: 25.98M (+268.0%)
|
199.59M
est: 32.90M (+506.7%)
|
160.04M
est: 35.71M (+348.1%)
|
93.05M
est: 39.46M (+135.8%)
|
69.43M
est: 46.43M (+49.5%)
|
-782.0K
est: 44.86M (-101.7%)
|
-52.64M
est: 39.52M (-233.2%)
|
43.85M
est: 50.95M (-13.9%)
|
114.88M
est: 63.95M (+79.6%)
|
271.85M
est: 618.97M (-56.1%)
|
321.80M
est: 676.16M (-52.4%)
|
731.02M
731.02M – 731.02M
+8.1% YoY
|
813.05M
813.05M – 813.05M
+11.2% YoY
|
909.31M
899.48M – 919.14M
+11.8% YoY
|
| Net Income |
70.21M
est: 80.05M (-12.3%)
|
151.41M
est: 128.67M (+17.7%)
|
117.63M
est: 84.11M (+39.8%)
|
78.52M
est: 60.30M (+30.2%)
|
50.41M
est: 47.34M (+6.5%)
|
-9.08M
est: 342.8K (-2,748.6%)
|
-47.32M
est: -61.71M (+23.3%)
|
23.78M
est: 14.06M (+69.2%)
|
81.57M
est: 71.99M (+13.3%)
|
203.51M
est: 177.45M (+14.7%)
|
227.80M
est: 206.56M (+10.3%)
|
267.54M
267.54M – 267.54M
+29.5% YoY
|
325.60M
325.60M – 325.60M
+21.7% YoY
|
396.00M
396.00M – 396.00M
+21.6% YoY
|
| SGA |
181.60M
est: 237.22M (-23.4%)
|
223.13M
est: 300.34M (-25.7%)
|
268.10M
est: 326.03M (-17.8%)
|
353.89M
est: 360.23M (-1.8%)
|
445.56M
est: 423.84M (+5.1%)
|
397.52M
est: 409.50M (-2.9%)
|
422.23M
est: 360.75M (+17.0%)
|
481.14M
est: 465.13M (+3.4%)
|
558.01M
est: 583.85M (-4.4%)
|
576.17M
est: 603.93M (-4.6%)
|
359.20M
est: 659.73M (-45.6%)
|
713.25M
713.25M – 713.25M
+8.1% YoY
|
793.29M
793.29M – 793.29M
+11.2% YoY
|
887.21M
877.62M – 896.81M
+11.8% YoY
|
| EPS |
2.05
est: 2.34 (-12.2%)
|
4.42
est: 3.75 (+17.8%)
|
3.43
est: 2.45 (+39.8%)
|
2.29
est: 1.76 (+30.2%)
|
1.47
est: 1.38 (+6.4%)
|
-0.26
est: 0.01 (-2,700.0%)
|
-1.38
est: -1.80 (+23.3%)
|
0.69
est: 0.41 (+68.3%)
|
2.38
est: 2.10 (+13.3%)
|
5.94
est: 5.18 (+14.7%)
|
6.65
est: 6.03 (+10.3%)
|
7.81
7.81 – 7.81
+29.5% YoY
|
9.51
9.51 – 9.51
+21.7% YoY
|
11.56
11.56 – 11.56
+21.6% YoY
|
| Date | Rating | Overall | DCF | ROE | ROA | D/E | P/E | P/B |
|---|---|---|---|---|---|---|---|---|
| 2026-05-11 | B+ | 3/5 | 4/5 | 5/5 | 5/5 | 2/5 | 2/5 | 1/5 |
| 2026-05-08 | B+ | 3/5 | 3/5 | 5/5 | 5/5 | 2/5 | 2/5 | 1/5 |
| 2026-05-07 | B+ | 3/5 | 3/5 | 5/5 | 5/5 | 2/5 | 2/5 | 1/5 |
| 2026-05-06 | B+ | 3/5 | 3/5 | 5/5 | 5/5 | 2/5 | 2/5 | 1/5 |
| 2026-05-05 | B+ | 3/5 | 3/5 | 5/5 | 5/5 | 2/5 | 2/5 | 1/5 |
| 2026-05-04 | B+ | 3/5 | 3/5 | 5/5 | 5/5 | 2/5 | 2/5 | 1/5 |
| 2026-04-30 | B | 3/5 | 3/5 | 5/5 | 5/5 | 1/5 | 2/5 | 1/5 |
| 2026-04-29 | B | 3/5 | 3/5 | 5/5 | 5/5 | 1/5 | 2/5 | 1/5 |
| 2026-04-28 | B | 3/5 | 3/5 | 5/5 | 5/5 | 1/5 | 2/5 | 1/5 |
| 2026-04-27 | B | 3/5 | 3/5 | 5/5 | 5/5 | 1/5 | 2/5 | 1/5 |
| 2026-04-24 | B | 3/5 | 3/5 | 5/5 | 5/5 | 1/5 | 2/5 | 1/5 |
| 2026-04-23 | B | 3/5 | 3/5 | 5/5 | 5/5 | 1/5 | 2/5 | 1/5 |
| 2026-04-22 | B | 3/5 | 3/5 | 5/5 | 5/5 | 1/5 | 2/5 | 1/5 |
| 2026-04-21 | B | 3/5 | 3/5 | 5/5 | 5/5 | 1/5 | 2/5 | 1/5 |
| 2026-04-20 | B | 3/5 | 3/5 | 5/5 | 5/5 | 1/5 | 2/5 | 1/5 |
| 2026-04-17 | B | 3/5 | 3/5 | 5/5 | 5/5 | 1/5 | 2/5 | 1/5 |
| 2026-04-16 | B+ | 3/5 | 4/5 | 5/5 | 5/5 | 1/5 | 2/5 | 1/5 |
Owner Earnings
Ownership Overview
Ownership breakdown not available.
No beneficial ownership filings recorded.
Institutional Activity (13F)
Institutional history not available.
Top holders not available.
ETF Ownership
| # | ETF | Weight | Est. AUM exposure | TER |
|---|---|---|---|---|
| 1 | iShares Healthcare Innovation UCITS ETF HEAL.L | 0.08% | 934.8K | 0.40% |
| 2 | iShares International Small-Cap Equity Factor ETF ISCF | 0.08% | 507.1K | 0.24% |
| 3 | Avantis International Small Cap Value ETF AVDV | 0.08% | 14.75M | 0.36% |
| 4 | Amundi MSCI Europe Small Cap ESG Broad Transition UCITS ETF Acc CEM.PA | 0.06% | 207.5K | 0.23% |
| 5 | Amundi MSCI Europe Small Cap ESG Broad Transition UCITS ETF Dist X026.DE | 0.06% | 207.5K | 0.23% |
| 6 | Dimensional - International Small Cap ETF DFIS | 0.05% | 2.65M | 0.39% |
| 7 | iShares MSCI Europe Small-Cap ETF IEUS | 0.04% | 77.9K | 0.41% |
| 8 | Xtrackers MSCI Europe Small Cap UCITS ETF 1C XXSC.L | 0.04% | 1.45M | 0.30% |
| 9 | Avantis International Small Cap Equity ETF AVDS | 0.04% | 112.6K | 0.30% |
| 10 | Avantis Global Small Cap Value UCITS ETF AVGS.L | 0.03% | 319.7K | 0.39% |
Insider Activity
No insider activity available.
Insider history not available.
No recent insider transactions.
Executive team
Executive compensation
Executive compensation not available.
No CEO compensation history available.
Proxy statements
No proxy statements available for this company yet.
Recent SEC filings
No SEC filings available for this company yet.
Executive team
| Name | Title | Compensation | Gender |
|---|---|---|---|
| Johan Lof | Founder, Chief Executive Officer, President & Director | 17M | — |
| Bjorn Hardemark | Deputy Chief Executive Officer | 4M | male |
| Fredrik Lofman | Head of Machine Learning | — | male |
| Jenna Styan | Director of Corporate Development & Strategy | — | female |
| Kjell Eriksson | Chief Science Officer | — | male |
| Laura Antonovic | Head of Strategic Partnerships & RaySearch Laboratories | — | — |
| Marc Mlyn | President & Chief Executive Officer of RaySearch Americas | — | male |
| Peter Kemlin | Director of Sales & Marketing | — | male |
| Petra Jansson | General Counsel | — | female |
| Tove Alteborg | Global Human Resource Manager | — | female |
| Carolina Haglund Stromlid | Head of Investor Relations | — | female |
No data available for this company.
No Senate trading activity found for this company.
No House trading activity found for this company.
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Community Opinion for RAY-B.ST
Short-term intention
Target Price Distribution
These are community opinions and do not constitute buy or sell advice to act on. The results shown are based on aggregated opinions and are not an investment recommendation, nor do they intend to influence any investment decision.
