Is the business good?
How good a business is ACAD?
ACADIA Pharmaceuticals Inc. earns 16% on the capital it employs against a 9.0% cost of capital, so the business is worth more the bigger it gets.
16%
Return on invested capital · cost of capital 9.0% · 7.1 points above what the capital costs: growth creates value
- Operating margin
- 7.4%
Operating margin · Biotechnology median −72% · 12 months to Q1 2026
- Cash conversion
- 0.30×
Cash conversion · 0.40× a year ago · some of the reported profit has not turned into cash yet
- Share count, year on year
- +3.0%
Share count, year on year · shareholders own a smaller slice than a year ago
| Year | Operating margin |
|---|---|
| FY2020 | −65% |
| FY2021 | −35% |
| FY2022 | −43% |
| FY2023 | −10% |
| FY2024 | 24% |
| FY2025 | 9.8% |
Details›
- Gross margin12 months to Q1 2026
- 91%
- Operating margin12 months to Q1 2026
- 7.4%
- Net margin12 months to Q1 2026
- 34%
- Free cash flow margin
- 10%
- R&D as % of revenue
- 30%
- Revenue, trailing twelve months
- $1.10B
- Free cash flow, trailing twelve months
- $114M
- Net income, trailing twelve months
- $376M
- Return on invested capitaloperating profit after tax ÷ debt + equity − cash
- 16%
Margins, capital and share counts from the statements as filed with the SEC; cash conversion from the cash flow statement.