Acadia Healthcare Company, Inc. ACHC
Our business strategy is to become the indispensable behavioral healthcare provider for the high-acuity and complex needs patient population. We are committed to providing the communities we serve with high-quality, cost-effective behavioral healthcare services, while growing our business, increasing profitability and creating long-term value for our stockholders. This strategy includes five growth pathways: expansions of existing facilities, joint venture partnerships, de novo facilities, acquisitions and expansion across our continuum of care. At December 31, 2025, we operated 277 behavioral healthcare facilities with over 12,500 beds in 40 states and Puerto Rico. During the year ended December 31, 2025, we added 1,089 beds, consisting of 311 added to existing facilities and 778 added through the opening of one wholly-owned facility and five joint venture facilities, and we closed five facilities totaling 382 beds. The five joint venture facilities opened during the year ended December 31, 2025, were through partnerships with Henry Ford Health, Geisinger Health, Ascension Seton, Fairview Health Services, and ECU Health. During the year ended December 31, 2025, we opened 15 CTCs.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $3.31B | $3.15B | $2.93B | $2.61B | $2.31B | $2.09B | $2.01B | $1.90B | $2.84B | $2.81B |
| SG&A | $177.6M | $156.8M | $153.3M | $124.3M | $108.2M | $97.8M | $90.4M | $86.6M | $76.4M | $86.8M |
| Total operating expenses | $4.38B | $2.81B | $2.95B | $2.24B | $2.04B | $1.91B | $1.93B | $1.84B | $2.60B | $2.78B |
| Operating income | — | — | — | — | — | — | $585.9M | $593.6M | $604.4M | $608.6M |
| Interest expense | $138.9M | $116.4M | $82.1M | $69.8M | $77.0M | $158.1M | $187.3M | $184.5M | $176.0M | $181.3M |
| Pre-tax income | -$1.07B | $341.9M | -$25.4M | $374.1M | $275.8M | $183.8M | $78.4M | $67.4M | $236.8M | $33.0M |
| Income tax | $26.0M | $77.4M | $9.7M | $94.1M | $67.6M | $40.6M | $25.1M | $9.9M | $37.2M | $28.8M |
| Net income | -$1.10B | $255.6M | -$21.7M | $273.1M | $190.6M | -$672.1M | $108.9M | -$175.8M | $199.8M | $6.1M |
| EPS, basic | -12.16 | 2.79 | -0.24 | 3.05 | 2.15 | -7.65 | 1.24 | -2.01 | 2.30 | 0.07 |
| EPS, diluted | -12.16 | 2.78 | -0.24 | 2.98 | 2.10 | -7.59 | 1.24 | -2.01 | 2.30 | 0.07 |
| Shares, diluted (wtd. avg.) | $90.7M | $92.1M | $90.9M | $91.6M | $90.8M | $88.6M | $87.8M | $87.4M | $87.1M | $86.0M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $133.2M | $76.3M | $100.1M | $97.6M | $133.8M | $378.7M | $99.5M | $30.2M | $67.3M | $57.1M |
| Receivables | $440.6M | $365.3M | $361.5M | $322.4M | $281.3M | $273.6M | $288.9M | $318.1M | $296.9M | $263.3M |
| Inventory | $5.7M | $5.7M | $5.3M | $5.1M | $4.8M | $4.9M | $4.1M | $5.1M | $4.8M | $4.6M |
| Total current assets | $814.1M | $577.5M | $596.0M | $506.1M | $495.0M | $2.52B | $542.2M | $450.4M | $471.6M | $427.9M |
| Property, plant and equipment | $3.11B | $2.85B | $2.27B | $1.95B | $1.77B | $1.62B | $1.50B | $3.11B | $3.05B | $2.70B |
| Goodwill | $1.30B | $2.26B | $2.23B | $2.22B | $2.20B | $2.11B | $2.09B | $2.04B | $2.75B | $2.68B |
| Other intangibles | $96.7M | $70.0M | $73.3M | $76.0M | $70.1M | $68.5M | $68.8M | $89.0M | $87.3M | $83.3M |
| Total assets | $5.53B | $5.96B | $5.36B | $4.99B | $4.77B | $6.50B | $6.88B | $6.17B | $6.42B | $6.02B |
| Accounts payable | $150.4M | $232.7M | $156.1M | $104.7M | $98.6M | $87.8M | $90.3M | $117.7M | $102.3M | $80.0M |
| Short-term debt | $28.4M | $76.8M | $29.2M | $21.2M | $18.6M | $153.5M | $43.7M | $34.1M | $34.8M | $34.8M |
| Total current liabilities | $525.2M | $577.9M | $885.8M | $388.3M | $404.9M | $1.31B | $463.6M | $416.4M | $377.4M | $342.9M |
| Long-term debt | $2.47B | $1.88B | $1.34B | $1.36B | $1.48B | $2.97B | $3.11B | $3.16B | $3.21B | $3.25B |
| Total liabilities | $3.39B | $2.77B | $2.47B | $2.09B | $2.19B | $4.54B | $4.34B | $3.81B | $3.83B | $3.84B |
| Retained earnings | -$765.8M | $387.3M | $131.7M | $153.4M | -$119.8M | -$310.4M | $361.7M | $252.8M | $428.6M | $220.1M |
| Total equity | $1.95B | $3.07B | $2.78B | $2.81B | $2.52B | $1.90B | $2.51B | $2.33B | $2.57B | $2.17B |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $131.9M | $129.7M | $462.3M | $380.6M | $374.5M | $658.8M | $332.9M | $414.1M | $399.6M | $361.5M |
| Depreciation and amortisation | $189.2M | $149.6M | $132.3M | $117.8M | $106.7M | $95.3M | $87.9M | $80.3M | $143.0M | $134.8M |
| Stock-based compensation | $31.7M | $37.1M | $32.3M | $29.6M | $37.5M | $22.5M | $17.3M | $22.0M | $23.5M | $28.3M |
| Capital expenditure | $571.8M | $690.4M | $424.1M | $296.1M | $244.8M | $225.0M | $232.7M | $253.2M | $274.2M | $307.5M |
| Investing cash flow | -$556.2M | -$736.5M | -$397.2M | -$305.8M | $1.01B | -$281.8M | -$201.1M | -$361.0M | -$336.5M | -$660.4M |
| Financing cash flow | $481.3M | $583.0M | -$62.7M | -$110.9M | -$1.64B | -$51.5M | -$61.6M | -$67.3M | -$60.1M | $358.8M |
| Buybacks | $50.0M | — | — | — | — | — | — | — | — | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001193125-26-078266.
Others in SIC 8093
| Ticker | Company | Market cap | P/E | Revenue growth |
|---|---|---|---|---|
| CON | Concentra Group Holdings Parent, Inc. | $4.40B | 26.5x | 13.9% |