Acadia Pharmaceuticals vs Alkermes
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The short version
- Alkermes is the larger business, with $1.5B of revenue in fiscal 2025 against $1.1B for Acadia Pharmaceuticals.
- Acadia Pharmaceuticals grew revenue faster (11.9%, against β5.3%).
- Alkermes kept more of each dollar of sales as operating profit (17.2% operating margin, against 9.8%).
- Alkermes turned more of its sales into free cash flow (32.6% FCF margin, against 9.8%).
- Investors pay more for each dollar of Alkermesβs earnings: a P/E of 114.8x against 8.8x for Acadia Pharmaceuticals.
| Latest fiscal year | ACAD Β· FY25 | ALKS Β· FY25 |
|---|---|---|
| Size | ||
| Market cap | $3.4B | $7.6B |
| Revenue | $1.1B | $1.5B |
| Free cash flow | $105M | $480M |
| Net income | $391M | $242M |
| Growth | ||
| Revenue growth | 11.9% | β5.3% |
| 5-year growth | 19.4% | 7.3% |
| Share count change | 2.1% | β0.3% |
| Profitability | ||
| Gross margin | 91.7% | 86.7% |
| Operating margin | 9.8% | 17.2% |
| Net margin | 36.5% | 16.4% |
| FCF margin | 9.8% | 32.6% |
| Return on capital | β | β |
| Return on equity | 39.9% | 14.7% |
| Balance sheet | ||
| Net debt | β | β |
| Net debt / EBITDA | β | β |
| Dividends and buybacks | $0.0M | $0.0M |
| Valuation & quality | ||
| P/E | 8.8x | 114.8x |
| Piotroski F-score | β | β |
Revenue
FY16
ACAD $17.3M
ALKS $746M
FY17
ACAD $125M
ALKS $903M
FY18
ACAD $224M
ALKS $1.1B
FY19
ACAD $339M
ALKS $1.2B
FY20
ACAD $442M
ALKS $1.0B
FY21
ACAD $484M
ALKS $1.2B
FY22
ACAD $517M
ALKS $1.1B
FY23
ACAD $726M
ALKS $1.7B
FY24
ACAD $958M
ALKS $1.6B
FY25
ACAD $1.1B
ALKS $1.5B
ACAD
ALKS
Operating margin
FY16
ACAD β1,574.1%
ALKS β28.0%
FY17
ACAD β234.1%
ALKS β16.4%
FY18
ACAD β110.6%
ALKS β9.1%
FY19
ACAD β72.7%
ALKS β15.0%
FY20
ACAD β64.9%
ALKS β10.8%
FY21
ACAD β35.2%
ALKS 8.3%
FY22
ACAD β43.2%
ALKS β0.6%
FY23
ACAD β10.1%
ALKS 24.9%
FY24
ACAD 24.1%
ALKS 27.0%
FY25
ACAD 9.8%
ALKS 17.2%
ACAD
ALKS
Free cash flow
FY16
ACAD β$210M
ALKS β$107M
FY17
ACAD β$219M
ALKS β$32.1M
FY18
ACAD β$170M
ALKS $29.9M
FY19
ACAD β$152M
ALKS β$18.9M
FY20
ACAD β$144M
ALKS $40.6M
FY21
ACAD β$127M
ALKS $73.7M
FY22
ACAD β$114M
ALKS β$17.2M
FY23
ACAD $16.7M
ALKS $353M
FY24
ACAD $157M
ALKS $406M
FY25
ACAD $105M
ALKS $480M
ACAD
ALKS
Return on capital
FY16
ACAD β
ALKS β15.5%
FY17
ACAD β
ALKS β11.4%
FY18
ACAD β
ALKS β8.0%
FY19
ACAD β
ALKS β15.9%
FY20
ACAD β
ALKS β11.6%
FY21
ACAD β
ALKS 10.8%
FY22
ACAD β
ALKS β0.6%
FY23
ACAD β
ALKS 57.2%
FY24
ACAD β
ALKS β
FY25
ACAD β
ALKS β
ACAD
ALKS
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.