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Acadia Healthcare
(NASDAQ:ACHC)
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Rating:49Neutral
Price Target:
$28.00
▼(-6.26% Downside)
Action:Reiterated
Date:09/26/26
The score is held down primarily by weak financial performance (TTM revenue decline, large losses, higher leverage, and still-pressured free cash flow) and only modest technical setup. A positive earnings-call backdrop (guidance confidence, quarterly free cash flow and debt reduction) partially offsets these risks, but valuation support is limited due to the negative P/E and no dividend yield provided.
Positive Factors
Behavioral Health Continuum
Acadia serves multiple behavioral-health needs and acuity levels through inpatient, residential and outpatient settings. This integrated continuum can support referrals, step-down care and patient retention across programs, creating a durable platform for growth as demand for mental-health and substance-use treatment remains broad.
Negative Factors
Earnings Deterioration
The sharp shift from 2024 profitability to substantial TTM losses indicates that earnings power remains weak and volatile. A revenue contraction further limits operating leverage, making it harder for the company to absorb cost increases, support expansion and generate dependable shareholder returns.
Read all positive and negative factors
Positive Factors
Negative Factors
Behavioral Health Continuum
Acadia serves multiple behavioral-health needs and acuity levels through inpatient, residential and outpatient settings. This integrated continuum can support referrals, step-down care and patient retention across programs, creating a durable platform for growth as demand for mental-health and substance-use treatment remains broad.
Read all positive factors
Acadia Healthcare (ACHC) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$2.61B
Dividend YieldN/A
Average Volume (3M)1.40M
Price to Earnings (P/E)―
Beta (1Y)0.62
Revenue Growth4.27%
EPS Growth-917.61%
CountryUS
Employees25,000
SectorHealthcare
Sector Strength45
IndustryMedical - Care Facilities
Share Statistics
EPS (TTM)-12.45
Shares Outstanding93,100,270
10 Day Avg. Volume1,661,849
30 Day Avg. Volume1,398,799
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 Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda>-0.01
Forecast
1Y Price Target
$35.45Price Target Upside18.70% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering12
EPS Forecast (FY)1.53
Revenue Forecast (FY)$3.43B
Acadia Healthcare Business Overview & Revenue Model
Company Description
Acadia Healthcare Company, Inc. specializes in delivering a comprehensive range of behavioral health services, with its operations spanning the United States and Puerto Rico. Patients receive care in diverse environments, including acute inpatient...
How the Company Makes Money
Acadia Healthcare makes money primarily by providing behavioral health treatment services and collecting reimbursement for patient care delivered across its facilities and programs.
Key revenue streams and how they work:
1) Patient service revenu...
Acadia Healthcare Earnings Call Summary
Earnings Call Date:Jul 28, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Nov 04, 2026
Earnings Call Sentiment Positive
The call was predominantly positive: management reported results at or above guidance, strong free cash flow, substantial debt reduction, improving performance from new facilities, operational gains, and confidence in the full-year outlook. Offsetting issues included flat reported revenue, the impact of New York Medicaid changes, a significant professional liability reserve adjustment, CTC performance below expectations, start-up losses, and uncertainty around government investigation costs. The highlights significantly outweighed the lowlights.Positive Updates
Revenue and Earnings Performance Met or Exceeded Guidance
Second-quarter revenue was above the high end of guidance, while adjusted EBITDA and adjusted EPS were near the high end of guidance. Adjusted EBITDA was $149.2 million.
Negative Updates
Reported Revenue Was Flat Year-over-Year
Second-quarter revenue was $866 million, flat compared with the prior-year period. Same-facility revenue was also flat year-over-year, with a 0.8% increase in patient days offset by a 0.8% decrease in revenue per patient day.
Read all updates
Q2-2026 Updates
Positive
Negative
Revenue and Earnings Performance Met or Exceeded Guidance
Second-quarter revenue was above the high end of guidance, while adjusted EBITDA and adjusted EPS were near the high end of guidance. Adjusted EBITDA was $149.2 million.
Read all positive updates
Company Guidance
Acadia updated its full year guidance to revenue in a range of $3.4 billion to $3.45 billion, adjusted EBITDA in a range of $590 million to $615 million, adjusted EPS in a range of $1.45 to $1.60 and operating cash flow in a range of $350 million to $400 million; full-year CapEx is expected in a range of $235 million to $255 million, including a range of $120 million to $140 million for the second half of the year, with positive free cash flow in the second half of 2026, 500 to 600 beds added in 2026, and supplemental payment programs in Florida and Ohio that could add more than $20 million in incremental EBITDA, while guidance includes a $5 million historical baseline amount for Florida in Q3 expectations.Acadia Healthcare Financial Statement Overview
Summary
Income Statement
28
Negative
Balance Sheet
45
Neutral
Cash Flow
39
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 | 1.20B | 583.44M | 711.98M | 682.61M | 2.51B | 2.22B |
| EBITDA | -683.55M | -737.83M | 607.84M | 189.11M | 561.67M | 459.47M |
| Net Income | -1.13B | -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 | 171.29M | 133.24M | 76.31M | 100.07M | 97.65M | 133.81M |
| Total Debt | 2.56B | 2.65B | 2.09B | 1.51B | 1.53B | 1.64B |
| Total Liabilities | 3.35B | 3.39B | 2.77B | 2.47B | 2.09B | 2.19B |
| Stockholders Equity | 1.98B | 1.95B | 3.07B | 2.78B | 2.81B | 2.52B |
Cash Flow | ||||||
| Free Cash Flow | -18.91M | -439.91M | -560.69M | 38.21M | 84.42M | 129.67M |
| Operating Cash Flow | 210.51M | 131.90M | 129.69M | 462.34M | 380.57M | 374.48M |
| Investing Cash Flow | -306.44M | -547.58M | -736.48M | -397.22M | -305.83M | 1.02B |
| Financing Cash Flow | 135.80M | 472.61M | 583.02M | -62.70M | -110.90M | -1.64B |
Acadia Healthcare Technical Analysis
Positive
29.87
Price Trends
29.17
Negative
28.32
Negative
24.17
Positive
Market Momentum
-0.36
Positive
48.27
Neutral
22.88
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For ACHC, the sentiment is Positive. The current price of 29.87 is above the 20-day moving average (MA) of 28.10, above the 50-day MA of 29.17, and above the 200-day MA of 24.17, indicating a neutral trend. The MACD of -0.36 indicates Positive momentum. The RSI at 48.27 is Neutral, neither overbought nor oversold. The STOCH value of 22.88 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive 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 | $1.43B | 12.06 | 24.12% | 6.27% | 5.22% | 1109.87% | |
76 Outperform | $4.52B | 90.86 | 3.39% | ― | 20.38% | ― | |
71 Outperform | $10.35B | 7.13 | 20.66% | 0.46% | 10.05% | 28.53% | |
62 Neutral | $92.38B | 14.24 | -112.87% | 0.72% | 7.31% | 25.54% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
49 Neutral | $2.61B | -2.25 | -50.02% | ― | 4.27% | -917.61% | |
42 Neutral | $383.55M | -1.20 | 20.91% | 0.70% | -5.25% | ― |
* Healthcare Sector Average
ACHC
Acadia Healthcare
28.06
1.60
6.05%
CYH
Community Health
2.72
-0.37
-11.97%
HCA
HCA Healthcare
426.69
-3.91
-0.91%
HCSG
Healthcare Services
20.87
4.67
28.83%
UHS
Universal Health
175.72
-30.22
-14.68%
LFST
Lifestance Health Group
11.83
6.22
110.87%
Acadia Healthcare Corporate Events
Business Operations and StrategyLegal Proceedings
Acadia Healthcare Gains Preliminary Approval in Derivative Settlement
Positive
Sep 25, 2026
On September 1, 2026, the U.S. District Court for the Middle District of Tennessee granted preliminary approval to a proposed settlement of stockholder derivative claims brought nominally on behalf of Acadia Healthcare against several current and ...
Business Operations and StrategyFinancial Disclosures
Acadia Healthcare Reports Mixed Q2 Results, Reinforces Growth Strategy
Negative
Jul 28, 2026
For the second quarter ended June 30, 2026, Acadia Healthcare reported total revenue of $865.8 million, essentially flat year over year, though management noted underlying revenue growth of 2.8% after normalizing for prior-period supplemental paym...
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.