Acadia Healthcare Company, Inc. (ACHC)
NASDAQ:ACHC
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Acadia Healthcare
(NASDAQ:ACHC)
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Rating:49Neutral
Price Target:
$26.00
▼(-3.70% Downside)
Action:Reiterated
Date:05/19/26
The score is held back primarily by the sharp swing to large losses, weaker earnings quality, higher leverage, and negative free cash flow in recent periods. Offsetting factors include a constructive earnings call with raised profitability guidance and expectations for positive 2026 free cash flow, while technicals are neutral and valuation is stretched; the recent large legal verdict adds additional downside uncertainty.
Positive Factors
Stable same‑facility revenue growth
Consistent same‑facility revenue growth, driven by higher revenue per patient day and modest patient day gains, signals durable underlying demand for behavioral health services. This supports steady organic top‑line expansion and improves predictability of revenue as new beds and ramps compound growth.
Negative Factors
Elevated leverage and reduced flexibility
Leverage has increased materially versus prior years, leaving the company more sensitive to interest rates, payer timing and payout variability. Elevated net leverage restricts strategic optionality, raises refinancing risk, and can constrain investments if cash generation underperforms guidance.
Read all positive and negative factors
Positive Factors
Negative Factors
Stable same‑facility revenue growth
Consistent same‑facility revenue growth, driven by higher revenue per patient day and modest patient day gains, signals durable underlying demand for behavioral health services. This supports steady organic top‑line expansion and improves predictability of revenue as new beds and ramps compound growth.
Read all positive factors
Acadia Healthcare (ACHC) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$2.33B
Dividend YieldN/A
Average Volume (3M)3.03M
Price to Earnings (P/E)129.0
Beta (1Y)0.65
Revenue Growth6.80%
EPS Growth-698.20%
CountryUS
Employees25,500
SectorHealthcare
Sector Strength45
IndustryMedical - Care Facilities
Share Statistics
EPS (TTM)-12.24
Shares Outstanding91,967,026
10 Day Avg. Volume2,540,510
30 Day Avg. Volume3,032,300
Financial Highlights & Ratios
PEG Ratio<0.01
Price to Book (P/B)0.66
Price to Sales (P/S)0.39
P/FCF Ratio-2.93
Enterprise Value/Market Cap2.03
Enterprise Value/Revenue1.40
Enterprise Value/Gross Profit2.49
Enterprise Value/Ebitda-6.84
Forecast
1Y Price Target
$28.50Price Target Upside5.56% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering11
EPS Forecast (FY)1.5
Revenue Forecast (FY)$3.41B
Acadia Healthcare Business Overview & Revenue Model
Company Description
Acadia Healthcare Company, Inc. provides behavioral healthcare services in the United States and Puerto Rico. The company offers behavioral healthcare services to its patients in various settings, including inpatient psychiatric hospitals, special...
How the Company Makes Money
Acadia Healthcare primarily makes money by providing behavioral healthcare treatment services and collecting reimbursement for patient care delivered at its facilities and programs. Its core revenue stream is patient service revenue generated when...
Acadia Healthcare Earnings Call Summary
Earnings Call Date:Apr 29, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Aug 04, 2026
Earnings Call Sentiment Positive
The call conveyed a constructive operational and financial start to 2026: revenue and adjusted EBITDA grew, results beat guidance, management raised full-year profitability targets, and execution initiatives (leadership changes, cost efficiencies, bed additions, JVs, technology) are showing early benefits. Offsetting these positives are persistent challenges in specialty (notably Pennsylvania), slower CTC performance due to weather, elevated bad debts/denials, temporary higher leverage in Q2 from timing of supplemental payments, and ongoing start-up/closure headwinds. Overall, progress on operations and margins appears to outweigh the headwinds, though some risks (payer behavior and supplemental approvals) remain.Positive Updates
Revenue Growth and Same-Facility Improvement
Reported Q1 revenue of $828.8 million, a 7.6% increase year-over-year. Same-facility revenue grew 7.3% YoY, driven by a 5.6% increase in revenue per patient day and a 1.6% increase in patient days.
Negative Updates
Specialty Segment Pressure and Revenue Decline
Specialty facility revenue declined 6.5% YoY in Q1, driven by challenges in Pennsylvania (including New York's decision to stop sending residents to PA facilities) and prior-year closures; closures created nearly a 6% headwind to growth.
Read all updates
Q1-2026 Updates
Positive
Negative
Revenue Growth and Same-Facility Improvement
Reported Q1 revenue of $828.8 million, a 7.6% increase year-over-year. Same-facility revenue grew 7.3% YoY, driven by a 5.6% increase in revenue per patient day and a 1.6% increase in patient days.
Read all positive updates
Company Guidance
Acadia guided to Q2 revenue of $835–$850 million, adjusted EBITDA of $142–$152 million and adjusted EPS of $0.30–$0.40, and reiterated full‑year revenue of $3.37–$3.45 billion while raising full‑year adjusted EBITDA to $580–$615 million (a $5M midpoint increase) and adjusted EPS to $1.35–$1.60 (from $1.30–$1.55); Q1 actuals were revenue $828.8M and adjusted EBITDA $144.2M (7.5% YoY), beating Q1 guidance by $7.2M. Key balance‑sheet and cash metrics included $158M cash, ~$565M available on a $1.0B revolver, operating cash flow $62M, Q1 CapEx $77M with FY CapEx guided to $255–$280M, Q1 free cash flow negative $15M but positive free cash flow expected for 2026, and net leverage ~3.9x as of 3/31 with 12‑month rolling adjusted EBITDA expected $559–$569M (implying Q2 net leverage ~4.4–4.5x and year‑end leverage targeted at 3.9–4.2x). Other assumptions called out: same‑facility revenue +7.3% (driven by +5.6% revenue per patient day and +1.6% patient days), Q1 same‑facility adjusted EBITDA $199.5M, Q1 start‑up losses $12M (now pegged at ~$47–$51M for the year), 82 beds added in Q1 and 400–600 beds expected in 2026, a Q1 weather headwind of $3.7M, and potential incremental EBITDA of at least $22M if certain supplemental payment programs are approved.Acadia Healthcare Financial Statement Overview
Summary
Income Statement
34
Negative
Balance Sheet
47
Neutral
Cash Flow
38
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 3.37B | 3.31B | 3.15B | 2.93B | 2.61B | 2.31B |
| Gross Profit | 1.89B | 583.44M | 711.98M | 682.61M | 2.51B | 2.22B |
| EBITDA | -691.25M | -737.83M | 607.84M | 189.11M | 561.67M | 459.47M |
| Net Income | -1.11B | -1.10B | 255.61M | -21.67M | 273.14M | 190.63M |
Balance Sheet | ||||||
| Total Assets | 5.55B | 5.53B | 5.96B | 5.36B | 4.99B | 4.77B |
| Cash, Cash Equivalents and Short-Term Investments | 158.47M | 133.24M | 76.31M | 100.07M | 97.65M | 133.81M |
| Total Debt | 2.67B | 2.65B | 2.09B | 1.51B | 1.53B | 1.64B |
| Total Liabilities | 3.38B | 3.39B | 2.77B | 2.47B | 2.09B | 2.19B |
| Stockholders Equity | 1.96B | 1.95B | 3.07B | 2.78B | 2.81B | 2.52B |
Cash Flow | ||||||
| Free Cash Flow | -291.79M | -439.91M | -560.69M | 38.21M | 84.42M | 129.67M |
| Operating Cash Flow | 181.95M | 131.90M | 129.69M | 462.34M | 380.57M | 374.48M |
| Investing Cash Flow | -424.55M | -547.58M | -736.48M | -397.22M | -305.83M | 1.02B |
| Financing Cash Flow | 309.83M | 472.61M | 583.02M | -62.70M | -110.90M | -1.64B |
Acadia Healthcare Technical Analysis
Neutral
27.00
Price Trends
25.42
Negative
20.72
Positive
20.56
Positive
Market Momentum
-0.01
Positive
44.97
Neutral
31.82
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For ACHC, the sentiment is Neutral. The current price of 27 is above the 20-day moving average (MA) of 26.47, above the 50-day MA of 25.42, and above the 200-day MA of 20.56, indicating a neutral trend. The MACD of -0.01 indicates Positive momentum. The RSI at 44.97 is Neutral, neither overbought nor oversold. The STOCH value of 31.82 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for ACHC.
Acadia Healthcare Risk Analysis
Acadia Healthcare disclosed 55 risk factors in its most recent earnings report. Acadia Healthcare reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Acadia Healthcare Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
76 Outperform | $3.07B | 17.30 | 11.68% | 1.80% | 11.40% | 13.96% | |
74 Outperform | $3.03B | 43.30 | 1.56% | ― | 16.46% | ― | |
62 Neutral | $2.04B | 11.43 | 7.83% | 1.69% | -10.76% | -20.86% | |
53 Neutral | $1.82B | -10.66 | -4.43% | ― | 5.38% | 61.15% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
49 Neutral | $2.33B | 128.96 | -43.82% | ― | 6.80% | -698.20% | |
47 Neutral | $3.17B | -118.16 | 9999.00% | ― | -0.36% | 16.69% |
* Healthcare Sector Average
ACHC
Acadia Healthcare
24.07
0.56
2.38%
BKD
Brookdale Senior Living
13.34
6.78
103.35%
NHC
National Healthcare
199.51
98.25
97.03%
SEM
Select Medical
16.52
2.03
14.00%
SGRY
Surgery Partners
13.49
-9.18
-40.49%
LFST
Lifestance Health Group
7.68
2.01
35.45%
Acadia Healthcare Corporate Events
Legal Proceedings
Acadia Healthcare Faces Major Jury Verdict in Lawsuit
Negative
May 18, 2026
On May 12, 2026, a jury in the Superior Court of San Diego County, California, awarded a former employee of Fashion Valley CTC $35 million in compensatory damages and $70 million in punitive damages in an employment-related lawsuit alleging retali...
Executive/Board ChangesShareholder Meetings
Acadia Healthcare Shareholders Back Directors and Governance Proposals
Positive
May 6, 2026
At its annual meeting of stockholders on May 6, 2026, Acadia Healthcare shareholders elected Daniel J. Cancelmi, Michael J. Fucci and Patrice A. Harris as Class III directors to serve until the 2029 annual meeting or until their successors are in ...
Business Operations and StrategyFinancial Disclosures
Acadia Healthcare Posts Q1 2026 Revenue Growth, Raises Outlook
Positive
Apr 29, 2026
Acadia Healthcare reported first-quarter 2026 results on April 29, 2026, posting revenue of $828.8 million, up 7.6% year over year, with same-facility revenue rising 7.3% on higher patient days and revenue per patient day. Growth was led by a 14% ...
Business Operations and StrategyExecutive/Board ChangesFinancial Disclosures
Acadia Healthcare Announces CFO Transition and Reaffirms Outlook
Neutral
Apr 23, 2026
On April 23, 2026, Acadia Healthcare announced that Chief Financial Officer Todd Young will resign effective April 30, 2026, to take a CFO role at a private equity-backed animal health company. The board appointed former long-time CFO David M. Duc...
Business Operations and StrategyExecutive/Board Changes
Acadia Healthcare Refreshes Board With Finance Veteran Appointment
Positive
Mar 12, 2026
On March 12, 2026, Acadia Healthcare announced the appointment of veteran healthcare finance executive Daniel Cancelmi to its board of directors, effective immediately, following a search led by the board’s nominating committee and an execut...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.