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Drug manufacturers · Healthcare · Fiscal year ends Dec 31
Acadia Pharmaceuticals reported revenue of $1.1B in the fiscal year ended Dec 2025, up 11.9% from the year before. Operating income was $105M, an operating margin of 9.8%, and net income was $391M. Operating cash flow of $110M less capital expenditure of $5M left free cash flow of $105M.
Ranks among the 78 drug manufacturers companies we cover (1st = best; for debt, the least indebted). Green = top third, red = bottom third.
Last 5 fiscal years
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue | 484 | 517 | 726 | 958 | 1,072 |
| Cost of revenue | 19.1 | 10.2 | 41.6 | 81.8 | 89.0 |
| Gross profit | 473 | 507 | 685 | 876 | 983 |
| Research & development | 239 | 362 | 352 | 303 | 329 |
| Selling, general & admin | 396 | 369 | 407 | 488 | 549 |
| Operating income | −170 | −224 | −73.4 | 231 | 105 |
| Pre-tax income | −168 | −213 | −51.0 | 258 | 139 |
| Income tax | 0.4 | 2.5 | 10.3 | 31.6 | −252 |
| Net income | −168 | −216 | −61.3 | 226 | 391 |
| Diluted EPS | −1.05 | −1.34 | −0.37 | 1.36 | 2.30 |
| Diluted shares | 0.2 | 162 | 164 | 166 | 170 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Cash & equivalents | 147 | 115 | 189 | 320 | 178 |
| Receivables | 64.4 | 62.2 | 98.3 | 98.7 | 121 |
| Inventory | 14.1 | 11.6 | 40.4 | 91.7 | 111 |
| Current assets | 618 | 508 | 616 | 938 | 1,062 |
| Net PP&E | 8.0 | 6.0 | 4.6 | 4.2 | 7.5 |
| Total assets | 700 | 588 | 749 | 1,188 | 1,564 |
| Payables | 6.9 | 12.7 | 17.5 | 16.2 | 10.9 |
| Current liabilities | 96.1 | 126 | 254 | 395 | 277 |
| Total liabilities | 159 | 187 | 317 | 455 | 337 |
| Shareholders' equity | 541 | 400 | 432 | 733 | 1,227 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Operating cash flow | −126 | −114 | 16.7 | 158 | 110 |
| Capital expenditure | 1.1 | 0.0 | 0.1 | 0.5 | 4.7 |
| Free cash flow | −127 | −114 | 16.7 | 157 | 105 |
| Depreciation & amortisation | 2.2 | 2.0 | 1.5 | 0.9 | 0.9 |
| Stock-based compensation | 63.6 | 68.2 | 66.4 | 67.0 | 52.1 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | 6.8% | 40.4% | 31.8% | 11.9% |
| Operating income growth (YoY) | – | – | – | – | −54.6% |
| EPS growth (YoY) | – | – | – | – | 69.1% |
| Gross margin | 97.8% | 98.0% | 94.3% | 91.5% | 91.7% |
| Operating margin | −35.2% | −43.2% | −10.1% | 24.1% | 9.8% |
| Net margin | −34.7% | −41.8% | −8.4% | 23.6% | 36.5% |
| Return on equityBlank when equity is negative | −31.0% | −53.9% | −14.2% | 30.9% | 31.9% |
| ROCEEBIT ÷ (assets − current liabilities) | −28.2% | −48.4% | −14.8% | 29.1% | 8.1% |
| Free cash flow margin | −26.2% | −22.0% | 2.3% | 16.4% | 9.8% |
| Cash conversion (CFO ÷ net income) | 0.75x | 0.53x | −0.27x | 0.70x | 0.28x |
| Receivable days | 49 | 44 | 49 | 38 | 41 |
| Inventory days | 269 | 415 | 355 | 409 | 457 |
| Payable days | 131 | 458 | 154 | 72 | 45 |
| Current ratio | 6.43x | 4.04x | 2.42x | 2.38x | 3.83x |
Standardised figures from the company's XBRL filings with the SEC (10-K, 10-Q). Line items follow US GAAP tags, so a company's own statement layout may differ and some lines show “–” where the company does not report that item. Ratios are calculated from these figures. For education only; not investment advice or a recommendation.