Acacia Research CorpAcacia Research Corp
Acacia Research Corp

Acacia Research Corp

ACTG
Industrials·Commercial Services & Supplies

Acacia Research Corp. focuses on acquiring and operating businesses across the industrial, energy, and mature technology sectors where it believes it can leverage its expertise, significant capital base, and deep industry relationships to drive value. It operates through the following business segments: Intellectual Property Operations, Industrial Operations and Energy Operations. The Intellectual Property Operations segment invests in IP and related absolute return assets and engages in the licensing and enforcement of patented technologies. The Industrial Operations segment generates operating income by designing and manufacturing printers and consumable products for various industrial printing applications. The Energy Operations segment engages in the acquisition, exploration, development, and production of oil and natural gas resources located in Roberts and Hemphill Counties in Texas. The company was founded by Robert Bruce Stewart on January 25, 1993 and is headquartered in New York, NY.

California; U.S.A
Market cap
No dataNo data
Revenue
$285.2M+133.2% YoY
Net income
$21.7M+160.1% YoY
Free cash flow
$61.1M+162.0% YoY

Market

Listed stock
ACTGPriceNasdaq
Loading…Loading…1Y

Financial performance

Revenue
$285.2M+133.2% YoY
Operating income
$6.4M+119.5% YoY
Net income
$21.7M+160.1% YoY
Free cash flow
$61.1M+162.0% YoY

Revenue, profit & cash trend

Revenue
Operating income
Net income
Free cash flow
Reference
Revenue: 2021 $12M, 2022 $59.2M, 2023 $125.1M, 2024 $122.3M, 2025 $285.2M. Operating income: 2021 $14.5M, 2022 $-40.1M, 2023 $20.9M, 2024 $-32.9M, 2025 $6.4M. Net income: 2021 $149.2M, 2022 $-125.1M, 2023 $67.1M, 2024 $-36.1M, 2025 $21.7M. Free cash flow: 2021 $13.2M, 2022 $-38.1M, 2023 $-22.7M, 2024 $-98.5M, 2025 $61.1M. Reference line: Reference at $0.

Growth & profitability

Revenue growth
133.2%+13543 bps YoY
Gross margin
No dataNo data
Operating margin
No dataNo data
FCF margin
No dataNo data

Earnings power over time

Operating income
Net income
Free cash flow
Operating income: 2021-12-31 $14.5M, 2022-12-31 $-40.1M, 2023-12-31 $20.9M, 2024-12-31 $-32.9M, 2025-12-31 $6.4M. Net income: 2021-12-31 $149.2M, 2022-12-31 $-125.1M, 2023-12-31 $67.1M, 2024-12-31 $-36.1M, 2025-12-31 $21.7M. Free cash flow: 2021-12-31 $13.2M, 2022-12-31 $-38.1M, 2023-12-31 $-22.7M, 2024-12-31 $-98.5M, 2025-12-31 $61.1M

Growth heatmap

2022202320242025CAGR
Revenue
+393.4%
+111.2%
-2.2%
+133.2%
+120.8%
Gross profit
+88.8%
+231.0%
-59.0%
+184.9%
+64.4%
Operating income
-375.6%
+152.2%
-257.3%
+119.5%
-18.5%
Free cash flow
-387.6%
+40.4%
-334.2%
+162.0%
+46.6%

Earnings quality

Operating cash flow
$75.2M+50.1% YoY
Net income
$21.7M+160.1% YoY
Free cash flow
$61.1M+162.0% YoY
Diluted EPS
No dataNo data

Cash conversion quality

Operating cash flow
Free cash flow
Net income = 100%
Operating cash flow: 2025-12-31 347%, 2024-12-31 -139%, 2023-12-31 -34%, 2022-12-31 30%, 2021-12-31 9%. Free cash flow: 2025-12-31 282%, 2024-12-31 273%, 2023-12-31 -34%, 2022-12-31 30%, 2021-12-31 9%. Reference line: Net income = 100% at 100%.

Per-share economics

Diluted EPS
Latest
No data
FCF / share
Latest
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Diluted shares
Latest
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Financial flexibility

Cash & equivalents
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Total debt
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Net debt
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Current ratio
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Cash Coverage of Debt

Cash / Total debt
No data

Returns

Return on equity
No dataNo data
Return on assets
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Return on invested capital
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Asset turnover
No dataNo data

Return on capital

No data

Valuation

Price to earnings
No dataNo data
Price to sales
No dataNo data
EV / EBITDA
No dataNo data
Free cash flow yield
No dataNo data

Valuation vs its own 5Y history

Metric
Own five-year range
Current
Own 5Y median
Position in own range
Price to earnings
No data
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Price to sales
No data
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EV / EBITDA
No data
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Free cash flow yield
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