ACHC

Acadia Healthcare Company, Inc.

Ticker: ACHCHealthcareHealth Services
HQ FRANKLIN, TNCIK 1520697FY end 12-31Book / share $21.70Shares 91M
Revenue (FY)
$3.31B+5.04%
TTM $3.37B
Op. margin
-32.18%-46.71%
TTM -30.39%
Net income
$-1.09B-512.85%
TTM $-1.12B
Operating cash
$131.90M+1.70%
TTM $210.51M
Free cash flow
$-439.91M-439.19%
TTM $-134.03M
Return on equity
-6.33%-15.16%
TTM -56.91%
Debt / equity
1.28+0.65%
TTM 1.22
Shares outstanding
90.7M-1.47%
TTM 91.2M

The business

Acadia Healthcare Company, Inc. (NASDAQ: ACHC) operates as the leading publicly traded pure-play provider of behavioral healthcare services in the United States. The company delivers comprehensive mental health and substance use disorder treatment across a diversified portfolio of facility types and care settings, serving patients throughout 40 states and Puerto Rico.

As of December 31, 2025, Acadia operates 277 behavioral healthcare facilities with over 12,500 beds. The company's service offerings span acute inpatient psychiatric facilities, specialty treatment facilities, comprehensive treatment centers (CTCs), and residential treatment centers, complemented by outpatient behavioral healthcare services. Acute inpatient psychiatric facilities represent 55 percent of revenue, specialty treatment facilities contribute 17 percent, comprehensive treatment centers account for 17 percent, and residential treatment centers generate 11 percent of total revenue.

For the year ended December 31, 2025, Acadia generated revenue of $3.31 billion. The company maintains a diversified payor base, receiving 57.7 percent of revenue from Medicaid, 24.6 percent from commercial payors, 14.3 percent from Medicare, and 3.4 percent from other sources. This diversification extends geographically as well, with no single facility representing more than 4 percent of revenue and no state accounting for more than 14 percent of revenue.

Acadia's business strategy focuses on becoming the indispensable behavioral healthcare provider for high-acuity and complex-needs patient populations. The company pursues growth through five primary pathways: expansions of existing facilities, joint venture partnerships, de novo facility development, acquisitions, and expansion across the continuum of care. During 2025, Acadia added 1,089 beds through facility expansions, new wholly-owned facilities, and joint venture partnerships with major health systems including Henry Ford Health, Geisinger Health, and Ascension Seton. The company also opened 15 new comprehensive treatment centers during the year.

Acadia maintains a strong financial position with a $1.65 billion credit facility and $550 million in senior notes due 2033. The company's maintenance capital expenditure requirements remain modest at approximately 3 percent of revenue, reflecting the asset-light nature of behavioral healthcare operations compared to other facility-based healthcare providers.

Sector
Healthcare
Industry
Health Services
HQ
FRANKLIN, TN
FY end
12-31
CIK
1520697
SIC
8093
Financial performance · annual
20132025
$-1.57B$-224.22M$1.12B$2.47B$3.82B2013201420152016201720182019202020212022202320242025TTMTTMTTM

Ownership

Who holds Acadia Healthcare Company, Inc. — across funds, superinvestors and bonds · N-PORT 2026Q2 · 13F 2026-06-30

297
funds hold it
1 of 35
superinvestors hold it
$1.37B
fund-held value
54.0%
of shares held by funds
3
bond issues held by funds

Top fund holders

Fund% of fundValue
iShares Core S&P Small-Cap ETF
IJR · iShares Trust
0.15%$163.64M
VANGUARD HEALTH CARE FUND
VGHCX · VANGUARD SPECIALIZED FUNDS
0.35%$130.03M
VANGUARD TOTAL STOCK MARKET INDEX FUND
VTI · VANGUARD INDEX FUNDS
0.00%$82.09M
Fidelity Value Fund
FDVLX · Fidelity Capital Trust
0.76%$73.57M
iShares Russell 2000 ETF
IWM · iShares Trust
0.09%$71.30M

Superinvestors in Acadia Healthcare Company, Inc.

David EinhornDECREASED -2.6%
DME Capital Management (Greenlight)
3.3%

Share of each manager's reported 13F portfolio.

Bonds held by funds

Funds report holding 3 issues of Acadia Healthcare Company, Inc.'s debt, $554.31M at fund-held market value — what funds hold, not the company's debt outstanding. Weighted-average coupon 6.11%, maturing 20282033.

IssueCouponMaturesFundsFund-held
Acadia Healthcare Co Inc7.375%2033-03-15162$232.14M
Acadia Healthcare Co., Inc.5.000%2029-04-15112$190.24M
Acadia Healthcare Co Inc5.500%2028-07-0198$131.94M

Fund ownership counts N-PORT filers only, so it is a floor rather than a census — pensions, insurers and direct holders are not visible here, and the remainder is not “held by individuals”.

Fund ownership is a subset of institutional 13F ownership — the two describe overlapping populations and must not be added together.

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15 years of Acadia Healthcare Company, Inc.'s financials

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