Acadia Pharmaceuticals Inc. (ACAD) intrinsic value & 10-year financials

Acadia Pharmaceuticals Inc. (ACAD) has a Graham intrinsic value of $76.40 per share. At $19.12 on Oct 17, 2026, the stock trades 75% below that value. Over the last 10 fiscal years revenue grew 58.1% a year to $1.1B, with an average return on invested capital of -35.1%.

Graham intrinsic value
$76.40
Share price (Oct 17, 2026)
$19.12
Price vs Graham value
75% below
Market cap
$3.2B
Revenue (FY2025)
$1.1B
Revenue growth (10-yr CAGR)
58.1%
ROIC (10-yr avg)
-35.1%
Free cash flow (FY2025)
$105.1M

ACAD 10-year financial history

Fiscal year Revenue Net income EPS (diluted) Free cash flow Operating margin ROIC
FY2025 $1.1B $391.0M $2.30 $105.1M 9.8% 13.6%
FY2024 $957.8M $226.5M $1.36 $157.2M 24.1% 54.3%
FY2023 $726.4M -$61.3M -$0.00 $16.7M -10.1% -23.3%
FY2022 $517.2M -$216.0M -$0.00 — -43.2% -56.8%
FY2021 $484.1M -$167.9M -$0.00 -$126.8M -35.2% -42.9%
FY2020 $441.8M -$281.6M -$0.00 -$143.8M -64.9% -66.6%
FY2019 $339.1M -$235.3M — -$152.3M -72.7% -47.8%
FY2018 $223.8M -$245.2M — -$169.6M -110.6% -60.8%
FY2017 $124.9M -$289.4M — -$218.6M -234.1% -68.5%
FY2016 $17.3M -$271.4M — -$209.9M -1574.1% -52.6%

Source: annual 10-K filings on SEC EDGAR. Figures in USD.

Executive summary

ACADIA PHARMACEUTICALS INC is a consistent compounder, expanding top-line revenue at 58.1% annually over the past decade.

ACADIA PHARMACEUTICALS INC has historically struggled to out-earn its cost of capital, averaging just -24.2% ROIC.

ACADIA PHARMACEUTICALS INC capital allocation metrics are N/A for the decade; share count and net debt history are incomplete.

Benjamin Graham lens

Under Benjamin Graham's formula using SEC EDGAR fundamentals, ACADIA PHARMACEUTICALS INC is modeled at 15.0% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $76.40 per share.

ACAD stock: frequently asked questions

What is the intrinsic value of Acadia Pharmaceuticals Inc. (ACAD) stock?

Using Benjamin Graham's revised formula, V = EPS × (8.5 + 2g) × 4.4 / Y, with reported diluted earnings per share, a 15.0% normalized growth rate (capped at 15%) and a 5.1% AAA corporate bond yield, ACAD's intrinsic value is about $76.40 per share.

Is ACAD stock undervalued?

At $19.12 (close on Oct 17, 2026), ACAD trades 75% below its Graham value of $76.40. On Graham's terms that leaves a margin of safety. A formula is a starting point for research, not a recommendation.

How fast has Acadia Pharmaceuticals Inc. grown?

Revenue went from $17.3M in fiscal 2016 to $1.1B in fiscal 2025, a compound annual growth rate of 58.1%. Net income was $391.0M in fiscal 2025.

Does Acadia Pharmaceuticals Inc. generate free cash flow?

Acadia Pharmaceuticals Inc. generated $105.1M of free cash flow (operating cash flow minus capital expenditures) in fiscal 2025. Free cash flow was positive in 3 of the last 9 reported years.

What is ACAD's return on invested capital?

Average ROIC over the last 10 fiscal years was -35.1%, and average return on equity was -27.3%. Sustained ROIC above about 15% usually points to a durable competitive advantage.

Where does this ACAD data come from?

From Acadia Pharmaceuticals Inc.'s annual 10-K filings on SEC EDGAR, most recently filed Aug 5, 2026. Prices are end-of-day snapshots; valuations are formula outputs, not investment advice.

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