Forensic Analysis · Healthcare / Pharmaceuticals / Biotech · as of Aug 10, 2026
Acadia Healthcare Company, Inc. (ACHC)
A forensic read on Acadia Healthcare Company, Inc. built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.
D · Weak — demands caution
Forensic grade
Distress
Financial health
-0.5
Distress distance
Clean
Earnings quality
5
Forensic signals
-2.5
P / E (ttm)
-56.6%
ROE
$2.9B
Market cap
0.00%
Dividend yield
5.0%
Revenue growth
This free snapshot doesn't read filing or proxy text, so the auditor-quality and governance checks that can lower a grade were not evaluated (red flags, auditor quality, say on pay, board independence). Those checks only ever lower a grade, so the full analysis can land below the grade above but never above it — treat it as the most favourable reading, not the settled one.
Acadia Healthcare Company, Inc. earns a D (Weak — demands caution) forensic quality grade, and its balance-sheet distress test reads -0.5, placing it in the Distress zone. 5 forensic signals were flagged in its latest SEC filings, led by return on invested capital.
What the filings flag
-17.2%
FY2025
Return on invested capital.Return on invested capital is -17.2% in the latest fiscal year and slipping from 6% — well below its ~10% cost of capital, so reinvested dollars may be destroying value, not building it.
FCF ($440M)
FY2025
Shareholder returns.Returned $54M to shareholders (buybacks + dividends) in FY2025, but free cash flow was ($440M) after capex — there was no free cash flow to fund the payout from at all, though operating cash flow alone was $132M — 41% of that. The entire return is coming from debt or cash reserves, not cash the business itself generated — a harder case than returns merely running ahead of free cash flow, since here there was none to run ahead of.
-0.3%/yr
FY2022–FY2025
Share count.Diluted share count changed -1% over the last 3 years to FY2025 (-0.3%/yr). Roughly flat — buybacks ($50M) are about offsetting stock comp ($32M), not shrinking the count. Per-share value isn't being meaningfully helped or hurt by the count.
$996M
FY2025–FY2025
Goodwill impairments.Took $996M of goodwill writedowns across 1 year (FY2025 ($996M)). Writedowns mean past acquisitions underperformed what was paid for them.
-99%
FY2011→FY2020
Dividend — cut.The payout was CUT ~99% in FY2020 (from FY2011) and hasn't been restored since. It still returns some cash, but it is NOT the dependable, rising dividend an unbroken streak implies. Measured on total dividend dollars rather than per share: the reported share count steps sharply around FY2020, a stock-split seam between filing vintages rather than a change in the payout, and a split leaves the dollars paid untouched.
Key fundamentals
Latest Revenue$3.31B
Revenue Growth YoY+5.0%
Revenue CAGR (3yr)+8.3%
Net Margin-33.3%
Free Cash Flow-$439.9M
Return on Equity-56.6%
Debt / Equity1.28x
The forensic grade and screens above are free — no account needed. Want the AI investment read on top — the 0–100 rating, thesis, bull-vs-bear, red flags and the 12-month scenario, written from Acadia Healthcare Company, Inc.'s actual 10-K/10-Q/8-K filings?