RaySearch Laboratories AB (publ), a medical technology company, develops software solutions for cancer treatment worldwide. It develops and markets RayStation, a treatment planning system for treatment activities, such as automated planning, adaptive therapy, multi-criteria optimization, fast and accurate dose computations, OAR dose reduction, robustness, machine learning, VMAT, IMRT, 3D-CRT, virtual simulation, electron beam therapy, tomotherapy, stereotactic, proton therapy, carbon ion therapy, and boron neutron capture therapy. The company also develops RayPlan, a treatment planning system for supporting a range of treatment planning activities for 3D-CRT, IMRT, VMAT, tomotherapy, and electron beam radiation therapy; and RayCare, an oncology information system to support cancer treatment activities. In addition, it offers RayCommand, a treatment control system that is compatible with various hardware models and supports advanced functionalities of treatment machines and software systems; and RayIntelligence, a cloud-based oncology analytics system that turns patient data into insights. Further, the company provides training courses related to its products. RaySearch Laboratories AB (publ) is headquartered in Stockholm, Sweden.

RaySearch Laboratories AB (publ)

Varian provides software and machines for oncology, alongside patient data and care team solutions, focusing on Intelligent Cancer Care.

Varian

RaySearch Laboratories develops software for radiation therapy and oncology, focusing on advancing cancer treatment through technology. The solutions support clinics worldwide in the fight against cancer.

Metric
Company Name	RaySearch Laboratories AB (publ)	Varian
Symbol	RAY-B
MSH ID	COM:RAYSEARCHLABS	COM:VARIAN
Market	STOCKS	PRIVATE
Sector	Healthcare	Healthcare & Health Services
Industry	Medical - Healthcare Information Services	Medical Technology
Country	SE	US
Stage
Employee Count	398
Website	raysearchlabs.com	varian.com
LinkedIn
Founders

Metric
Market Cap	421.73M
Enterprise Value
Monthly Web Traffic	8.48K	235.65K
Web Traffic Growth	0.44	0.90
Valuation
Raised Capital

Metric
Revenue	93.52M
Revenue (LTM)
Revenue (NTM)
Gross Profit	57.68M
EBITDA	37.06M
Operating Income	10.96M
Net Income	7.46M
EPS	0.22
Diluted EPS	0.22
Revenue 2022
Revenue 2023
Revenue 2024
Revenue 2025
Revenue 2026

Metric
Revenue Growth (LTM)
Revenue Growth (NTM)
Gross Profit Growth (LTM)
EBITDA Growth (LTM)
Net Income Growth (LTM)
14-Day Growth Score
28-Day Growth Score
90-Day Growth Score
365-Day Growth Score

Metric
Gross Profit Margin	0.82
Operating Profit Margin	0.17
EBITDA Margin	0.40
Net Profit Margin	0.13
Return on Equity	0.20
Return on Assets	0.07
Return on Capital Employed	0.15

COM:RAYSEARCHLABS

RaySearch Laboratories

Last Close

200.00

25/11 09:37

Market Cap

4.61B

Beta: -

Volume Today

14.34K

Avg: -

Company Overview

Market Metrics

Financial Performance

Growth Metrics

Profitability Ratios

Valuation Multiples

Operational Metrics

Cash Flow Metrics

Balance Sheet Metrics

Efficiency Metrics

Metric
P/E Ratio	47.44
P/B Ratio	4.29
Revenue Multiple (LTM)
Revenue Multiple (NTM)
EBITDA Multiple (LTM)
EBITDA Multiple (NTM)
Price to Sales Ratio	5.13
EV Multiple	23.92

Metric
Days Sales Outstanding
Days Payables Outstanding	163.14
Days Inventory Outstanding	30.10
Operating Cycle	186.67
Cash Conversion Cycle	121.87
Asset Turnover	0.55

Metric
Operating Cash Flow	41.72M
Free Cash Flow	22.56M
Cash Flow to Debt	6.67
Operating Cash Flow/Sales	0.50
Free Cash Flow Yield	0.13

Metric
Cash & Equivalents	31.44M
Accounts Receivable	2.91M
Inventory	852.71K
Goodwill
Debt to Capitalization	0.42
Debt to Assets	0.27
Current Ratio	1.21
Quick Ratio	1.21

Metric
Rule of 40 (LTM)
Rule of 40 (NTM)
Stock Comp to Revenue
R&D to Revenue	0.23
SG&A to Revenue	0.19