Acacia Research Corporation (ACTG) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

-901.0%

-$33.80

vs $4.22 price

Levered DCF

-$77.97

After debt service

Piotroski score

4 / 9

Average

Altman Z-score

1.55

Distress zone

Rating

C+

Overall 2 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	16.26×	-12.06×	5.52×	-1.61×	2.11×	2.21×	-7.82×	-1.42×
P/B	0.66×	0.84×	0.52×	0.69×	0.6×	0.69×	0.76×	0.78×
P/S	1.26×	3.52×	2.36×	3.02×	2.84×	6.46×	11.77×	1.13×
EV / EBITDA	1.89×	150.61×	-0.37×	0.42×	0.65×	1.17×	-4.88×	1.75×
Gross margin	82.5%	24.2%	57.8%	36.9%	59.0%	16.6%	-62.6%	18.9%
Operating margin	2.2%	-26.9%	16.7%	-67.7%	16.5%	-65.5%	-208.2%	-18.9%
Net margin	7.6%	-29.5%	53.6%	-211.2%	169.5%	366.8%	-152.2%	-79.9%
Current ratio	9.18×	8.89×	20.06×	4.91×	3.65×	3.67×	14.79×	6.49×
Debt / equity	0.19×	0.24×	0.02×	0.25×	0.44×	0.42×	0.01×	0.18×
Interest coverage	0.71×	-5.11×	10.85×	-6.23×	1.84×	-1.93×	0×	0×
Dividend yield	0.0%	0.0%	0.5%	1.6%	0.6%	0.7%	0.0%	0.0%
Payout ratio	0.0%	0.0%	2.1%	-2.2%	1.0%	1.3%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	4.0%	-7.0%	11.8%	-48.4%	35.6%	39.4%	-9.9%	-54.9%
Return on invested capital	0.7%	-4.2%	3.4%	-7.6%	1.6%	-3.9%	-10.2%	-12.9%
Return on assets	2.8%	-4.8%	10.6%	-25.9%	18.7%	21.4%	-7.8%	-46.9%
Free cash flow yield	16.3%	-26.1%	-9.7%	-24.1%	-3.1%	-17.5%	-5.2%	14.0%
Earnings yield	6.0%	-8.4%	22.7%	-70.0%	59.6%	56.8%	-12.9%	-70.5%
Enterprise value	$158.1M	$281M	-$31.4M	-$45.1M	$125.6M	$144.1M	$76.7M	$53.7M
Net debt / EBITDA	-2.42×	-80.15×	-3.88×	2.09×	-0.65×	-0.39×	3.54×	-3.1×
Cash conversion cycle (days)	130	141	288	131	75	-9	-19	-47