Latest Ratios: P/E Ratio 11.4x · EV/EBITDA 31.4x · ROE 39.9%. (2000–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $4.5B | — | $3.1B | $5.1B | $2.6B | $3.7B | $8.4B | $6.3B | $2.0B | $3.7B | $3.3B |
| Enterprise Value | $4.4B | — | $2.8B | $5.0B | $2.5B | $3.7B | $8.1B | $6.1B | $1.9B | $3.6B | $3.2B |
| P/E Ratio → | 11.44 | — | 13.49 | — | — | — | — | — | — | — | — |
| P/S Ratio | 4.19 | — | 3.19 | 7.06 | 4.98 | 7.74 | 19.04 | 18.57 | 9.15 | 29.56 | 192.80 |
| P/B Ratio | 3.66 | — | 4.17 | 11.88 | 6.43 | 6.93 | 13.41 | 9.01 | 4.27 | 11.01 | 6.45 |
| P/FCF | 42.66 | — | 19.42 | — | — | — | — | — | — | — | — |
| P/OCF | 40.84 | — | 19.36 | 307.10 | — | — | — | — | — | — | — |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | — | 2.91 | 6.88 | 4.87 | 7.57 | 18.41 | 18.04 | 8.54 | 29.00 | 183.35 |
| EV / EBITDA | 31.39 | — | 11.29 | — | — | — | — | — | — | — | — |
| EV / EBIT | 41.60 | — | 33.05 | — | — | — | — | — | — | — | — |
| EV / FCF | — | — | 17.72 | — | — | — | — | — | — | — | — |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 91.7% | 91.7% | 91.5% | 93.7% | 98.0% | 96.0% | 95.3% | 94.2% | 91.8% | 89.5% | 74.6% |
| Operating Margin | 9.8% | 9.8% | 24.1% | -10.1% | -43.2% | -35.2% | -64.9% | -72.7% | -110.6% | -234.1% | -1574.1% |
| Net Profit Margin | 36.5% | 36.5% | 23.6% | -8.4% | -41.8% | -34.7% | -63.7% | -69.4% | -109.6% | -231.7% | -1565.9% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 39.9% | 39.9% | 38.9% | -14.7% | -45.9% | -28.7% | -42.5% | -39.9% | -60.2% | -67.8% | -75.6% |
| ROA | 28.4% | 28.4% | 23.4% | -9.2% | -33.5% | -22.6% | -36.0% | -35.6% | -53.0% | -61.2% | -69.3% |
| ROIC | 10.0% | 10.0% | 45.2% | -17.0% | -41.6% | -31.6% | -49.4% | -42.8% | -60.8% | -70.7% | -90.5% |
| ROCE | 10.1% | 10.1% | 35.8% | -15.3% | -41.9% | -26.6% | -41.4% | -41.5% | -60.6% | -68.5% | -75.9% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.04 | 0.04 | 0.07 | 0.13 | 0.15 | 0.12 | 0.08 | 0.01 | — | — | — |
| Debt / EBITDA | 0.38 | 0.38 | 0.21 | — | — | — | — | — | — | — | — |
| Net Debt / Equity | — | -0.10 | -0.37 | -0.30 | -0.13 | -0.15 | -0.44 | -0.26 | -0.28 | -0.21 | -0.32 |
| Net Debt / EBITDA | -0.90 | -0.90 | -1.08 | — | — | — | — | — | — | — | — |
| Debt / FCF | — | -1.19 | -1.70 | — | — | — | — | — | — | — | — |
| Interest Coverage | — | — | — | — | — | — | — | — | — | — | — |
Net cash position: cash ($178M) exceeds total debt ($52M)
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 3.83 | 3.83 | 2.38 | 2.42 | 4.04 | 6.43 | 6.77 | 10.16 | 8.83 | 7.62 | 12.87 |
| Quick Ratio | 3.71 | 3.71 | 2.32 | 2.28 | 3.99 | 6.35 | 6.68 | 10.08 | 8.76 | 7.51 | 12.77 |
| Cash Ratio | 2.96 | 2.96 | 1.91 | 1.73 | 3.32 | 5.42 | 5.96 | 9.32 | 7.95 | 6.96 | 12.42 |
| Asset Turnover | — | 0.69 | 0.81 | 0.97 | 0.88 | 0.69 | 0.56 | 0.43 | 0.41 | 0.32 | 0.03 |
| Inventory Turnover | 2.57 | 2.57 | 3.73 | 1.28 | 1.53 | 2.43 | 2.12 | 3.09 | 4.50 | 2.49 | 1.06 |
| Days Sales Outstanding | — | 50.49 | 39.90 | 51.43 | 44.51 | 49.26 | 41.55 | 40.77 | 45.32 | 53.86 | 150.37 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 8.7% | — | 7.4% | — | — | — | — | — | — | — | — |
| FCF Yield | 2.3% | — | 5.1% | — | — | — | — | — | — | — | — |
| Buyback Yield | 0.0% | — | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Total Shareholder Yield | 0.0% | — | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Shares Outstanding | — | $171M | $166M | $164M | $162M | $160M | $157M | $147M | $127M | $123M | $116M |
Pipeline concentration and regulatory
Based on reported figures, ACAD trades at a forward P/E of 65.07, which suggests that investors are pricing in significant future earnings expansion despite the recent deceleration in revenue growth observed in the most recent quarterly filings compared to the prior year's performance.
The disparity between the TTM P/E of 11.06 and the forward multiple indicates that the market is heavily discounting near-term profitability in favor of long-term pipeline potential. This valuation appears to reflect a cautious stance on the sustainability of the Nuplazid franchise and the ultimate peak sales potential of the Rett Syndrome market.
As reported in financial statements, ACAD's ROIC has fluctuated significantly, dropping to -0.5% in 2026Q1 from a peak of 24.6% in 2024Q4, which highlights the difficulty in maintaining consistent returns on invested capital during the transition to a multi-product commercial entity.
The volatility in ROIC suggests that the company's capital allocation strategy is currently struggling to generate stable returns as it balances high-cost commercial infrastructure with ongoing R&D investments. Investors should monitor whether the company can stabilize these returns as the Daybue launch matures and operational efficiencies are realized.
According to recent SEC filings, ACAD's cash conversion cycle has widened to 126 days in 2026Q1, driven by elevated days inventory outstanding, which suggests that the company is facing challenges in optimizing its supply chain and inventory management for its specialized CNS therapeutic portfolio.
The increase in DIO relative to historical averages warrants further investigation into whether this reflects strategic stockpiling or a potential slowdown in patient uptake. The lack of efficiency in converting inventory to cash may continue to create noise in quarterly cash flow reporting, complicating the assessment of underlying operational health.
Based on ACAD's reported figures, the current ratio of 3.59 in 2026Q1 provides a substantial liquidity cushion, which appears to insulate the company from short-term operational shocks and provides the necessary flexibility to fund ongoing clinical development programs without immediate reliance on external financing.
This strong liquidity position is a critical safeguard given the company's reliance on a concentrated revenue base and the inherent risks of the biotechnology sector. The ability to maintain such high liquidity while operating with minimal debt suggests a conservative financial management approach that prioritizes stability over aggressive leverage.
As indicated by the data, the P/E ratio is frequently misapplied to ACAD, as it fails to account for the significant non-recurring items and the heavy R&D investment that often mask the true underlying earning power of the company's commercial-stage CNS assets.
Investors should instead focus on EV/Sales or adjusted EBITDA metrics to better capture the company's operational performance, as the P/E ratio is heavily distorted by accounting volatility and the timing of milestone payments. Relying on P/E in this context may lead to an inaccurate assessment of the company's valuation relative to its peers.
Includes 30+ ratios · 25 years · Updated daily
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Quick answers to the most common questions about buying ACAD stock.
ACADIA Pharmaceuticals Inc.'s current P/E ratio is 11.4x. The historical average is 8.3x. This places it at the 50th percentile of its historical range.
ACADIA Pharmaceuticals Inc.'s current EV/EBITDA is 31.4x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 6.9x.
ACADIA Pharmaceuticals Inc.'s return on equity (ROE) is 39.9%. This is above the typical threshold of 15-20% considered good for most companies. The historical average is -46.5%.
Based on historical data, ACADIA Pharmaceuticals Inc. is trading at a P/E of 11.4x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
ACADIA Pharmaceuticals Inc. has 91.7% gross margin and 9.8% operating margin.
ACADIA Pharmaceuticals Inc.'s Debt/EBITDA ratio is 0.4x, indicating low leverage. A ratio below 2x is generally considered financially healthy.