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Medical care facilities · Healthcare · Fiscal year ends Dec 31
Acadia Healthcare reported revenue of $3.3B in the fiscal year ended Dec 2025, up 5.0% from the year before. Net income was −$1.1B. Operating cash flow of $132M less capital expenditure of $572M left free cash flow of −$440M. Net debt was $2.4B.
Ranks among the 24 medical care facilities 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 | 2,314 | 2,610 | 2,929 | 3,154 | 3,313 |
| Net interest incomeBanks | −77.0 | −69.8 | −82.1 | −116 | −139 |
| Pre-tax income | 276 | 374 | −25.4 | 342 | −1,066 |
| Income tax | 67.6 | 94.1 | −9.7 | 77.4 | 26.0 |
| Net income | 191 | 273 | −21.7 | 256 | −1,103 |
| Diluted EPS | 2.10 | 2.98 | −0.24 | 2.78 | −12.16 |
| Diluted shares | 90.8 | 91.6 | 90.9 | 92.1 | 90.7 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Cash & equivalents | 134 | 97.6 | 100 | 76.3 | 133 |
| Receivables | 281 | 322 | 361 | 365 | 441 |
| Inventory | 4.8 | 5.1 | 5.3 | 5.7 | 5.7 |
| Current assets | 495 | 506 | 596 | 577 | 814 |
| Net PP&E | 1,771 | 1,952 | 2,267 | 2,853 | 3,111 |
| Goodwill | 2,200 | 2,223 | 2,226 | 2,265 | 1,296 |
| Total assets | 4,768 | 4,988 | 5,359 | 5,957 | 5,527 |
| Payables | 98.6 | 105 | 156 | 233 | 150 |
| Deferred revenue | 30.4 | 6.7 | 2.2 | 1.7 | 2.8 |
| Current liabilities | 405 | 388 | 886 | 578 | 525 |
| Short-term debt | 18.6 | 21.3 | 29.2 | 76.8 | 28.4 |
| Long-term debt | 1,479 | 1,365 | 1,343 | 1,880 | 2,472 |
| Total liabilities | 2,185 | 2,087 | 2,471 | 2,766 | 3,387 |
| Shareholders' equity | 2,517 | 2,813 | 2,782 | 3,074 | 1,949 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Operating cash flow | 374 | 381 | 462 | 130 | 132 |
| Capital expenditure | 245 | 296 | 424 | 690 | 572 |
| Free cash flow | 130 | 84.4 | 38.2 | −561 | −440 |
| Depreciation & amortisation | 107 | 118 | 132 | 150 | 189 |
| Stock-based compensation | 37.5 | 29.6 | 32.3 | 37.1 | 31.7 |
| Acquisitions | 139 | 9.5 | 0.3 | 53.6 | 8.2 |
| Share buybacks | – | – | – | – | 50.0 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | 12.8% | 12.2% | 7.7% | 5.0% |
| EPS growth (YoY) | – | 41.9% | −108.1% | – | −537.4% |
| Net margin | 8.2% | 10.5% | −0.7% | 8.1% | −33.3% |
| Return on equityBlank when equity is negative | 7.6% | 9.7% | −0.8% | 8.3% | −56.6% |
| Free cash flow margin | 5.6% | 3.2% | 1.3% | −17.8% | −13.3% |
| Cash conversion (CFO ÷ net income) | 1.96x | 1.39x | −21.3x | 0.51x | −0.12x |
| Receivable days | 44 | 45 | 45 | 42 | 49 |
| Debt ÷ equity | 0.59x | 0.49x | 0.49x | 0.64x | 1.28x |
| Net debtDebt − cash & equivalents; excludes investments; negative = net cash | 1,363 | 1,288 | 1,272 | 1,881 | 2,367 |
| Current ratio | 1.22x | 1.30x | 0.67x | 1.00x | 1.55x |
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.