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ACACIA RESEARCH CORP

ACTG Clue Score52
United States Fiscal year ends December CIK 0000934549
$4.34 +0.46% Close, 12 Oct 2026
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Price $4.34 −21.52% Close, 12 Oct 2026

Closing prices at the end of each trading day, from 13 Oct 2016. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2016Operating income−37.4Net income−54.1Fiscal year 2017Revenue65.4Operating income−27.3Net income22.2Fiscal year 2018Revenue131.5 +101.1%Operating income−24.7Net income−105.0 −573.5%EPS, diluted−2.10Fiscal year 2019Revenue11.2 −91.4%Operating income−23.4Net income−17.1EPS, diluted−0.40Fiscal year 2020Revenue29.8 +164.8%Operating income−19.5Net income109.2EPS, diluted1.48Fiscal year 2021Revenue88.0 +195.6%Operating income14.5Net income149.2 +36.6%EPS, diluted1.91Fiscal year 2022Revenue59.2 −32.7%Operating income−40.1Net income−125.1 −183.8%EPS, diluted−3.13Fiscal year 2023Revenue125.1 +111.2%Operating income20.9Net income67.1EPS, diluted0.58Fiscal year 2024Revenue122.3 −2.2%Operating income−32.9Net income−36.1 −153.8%EPS, diluted−0.36Fiscal year 2025Revenue285.2 +133.2%Operating income6.4Net income21.7EPS, diluted0.22
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue n/a 65.4 131.5 11.2 29.8 88.0 59.2 125.1 122.3 285.2
Growth +101.1% −91.4% +164.8% +195.6% −32.7% +111.2% −2.2% +133.2%
Operating income −37.4 −27.3 −24.7 −23.4 −19.5 14.5 −40.1 20.9 −32.9 6.4
Net income −54.1 22.2 −105.0 −17.1 109.2 149.2 −125.1 67.1 −36.1 21.7
Growth −573.5% +36.6% −183.8% −153.8%
EPS, diluted n/a n/a −2.10 −0.40 1.48 1.91 −3.13 0.58 −0.36 0.22

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Gross marginOperating marginNet margin
Fiscal year 2016Fiscal year 2017Operating margin−41.7%Net margin33.9%Free cash flow margin19.8%Fiscal year 2018Operating margin−18.8%Net margin−79.9%Free cash flow margin15.8%Fiscal year 2019Operating margin−208.2%Net margin−152.2%Free cash flow margin−22.2%Fiscal year 2020Operating margin−65.5%Net margin366.8%Free cash flow margin−66.5%Fiscal year 2021Gross margin59.0%Operating margin16.5%Net margin169.5%Free cash flow margin15.0%Fiscal year 2022Gross margin36.9%Operating margin−67.7%Net margin−211.2%Free cash flow margin−64.3%Fiscal year 2023Gross margin57.8%Operating margin16.7%Net margin53.6%Free cash flow margin−18.1%Fiscal year 2024Gross margin24.2%Operating margin−26.9%Net margin−29.5%Free cash flow margin−80.6%Fiscal year 2025Gross margin29.6%Operating margin2.2%Net margin7.6%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Gross margin n/a n/a n/a n/a n/a 59.0% 36.9% 57.8% 24.2% 29.6%
Operating margin n/a −41.7% −18.8% −208.2% −65.5% 16.5% −67.7% 16.7% −26.9% 2.2%
Net margin n/a 33.9% −79.9% −152.2% 366.8% 169.5% −211.2% 53.6% −29.5% 7.6%
Free cash flow margin n/a 19.8% 15.8% −22.2% −66.5% 15.0% −64.3% −18.1% −80.6% n/a

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2016Operating cash flow34.1Capital expenditure−0.0Free cash flow34.1Buybacks−0.1Dividends paid0.0Fiscal year 2017Operating cash flow13.0Capital expenditure−0.0Free cash flow13.0 −61.9%Buybacks0.0Dividends paid0.0Fiscal year 2018Operating cash flow20.9Capital expenditure−0.0Free cash flow20.8 +60.8%Buybacks−4.6Fiscal year 2019Operating cash flow−2.3Capital expenditure−0.2Free cash flow−2.5 −112.0%Buybacks0.0Dividends paid0.0Fiscal year 2020Operating cash flow−19.6Capital expenditure−0.2Free cash flow−19.8Buybacks−4.0Dividends paid−1.4Fiscal year 2021Operating cash flow13.3Capital expenditure−0.1Free cash flow13.2Buybacks−4.0Dividends paid−1.5Fiscal year 2022Operating cash flow−37.3Capital expenditure−0.7Free cash flow−38.1 −387.6%Buybacks−51.0Dividends paid−2.8Fiscal year 2023Operating cash flow−22.5Capital expenditure−0.2Free cash flow−22.7Buybacks0.0Dividends paid−1.4Fiscal year 2024Operating cash flow50.1Capital expenditure−148.7Free cash flow−98.5Buybacks−20.3Dividends paid0.0Fiscal year 2025Operating cash flow75.2Buybacks0.0
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow 34.1 13.0 20.9 −2.3 −19.6 13.3 −37.3 −22.5 50.1 75.2
Capital expenditure −0.0 −0.0 −0.0 −0.2 −0.2 −0.1 −0.7 −0.2 −148.7 n/a
Free cash flow 34.1 13.0 20.8 −2.5 −19.8 13.2 −38.1 −22.7 −98.5 n/a
Growth −61.9% +60.8% −112.0% −387.6%
Buybacks −0.1 0.0 −4.6 0.0 −4.0 −4.0 −51.0 0.0 −20.3 0.0
Dividends paid 0.0 0.0 n/a 0.0 −1.4 −1.5 −2.8 −1.4 0.0 n/a

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2016Cash139.1Shareholders’ equity265.6Fiscal year 2017Cash136.6Shareholders’ equity294.3Fiscal year 2018Cash128.8Shareholders’ equity189.4Fiscal year 2019Cash57.4Shareholders’ equity173.1Fiscal year 2020Cash165.5Shareholders’ equity277.3Fiscal year 2021Cash308.9Shareholders’ equity419.4Fiscal year 2022Cash287.8Shareholders’ equity258.3Fiscal year 2023Cash340.1Shareholders’ equity568.3Fiscal year 2024Cash273.9Total debt2.4Net cash (debt)271.5Shareholders’ equity514.8Debt to equity0.00Fiscal year 2025Cash306.7Total debt91.9Net cash (debt)214.8Shareholders’ equity543.5Debt to equity0.17
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash 139.1 136.6 128.8 57.4 165.5 308.9 287.8 340.1 273.9 306.7
Total debt n/a n/a n/a n/a n/a n/a n/a n/a 2.4 91.9
Net cash (debt) n/a n/a n/a n/a n/a n/a n/a n/a 271.5 214.8
Shareholders’ equity 265.6 294.3 189.4 173.1 277.3 419.4 258.3 568.3 514.8 543.5
Debt to equity n/a n/a n/a n/a n/a n/a n/a n/a 0.00 0.17

In millions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Ratios

Percentages worked out from the filed figures; debt to equity in times. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2016 31 Dec 2016 FY2017 31 Dec 2017 FY2018 31 Dec 2018 FY2019 31 Dec 2019 FY2020 31 Dec 2020 FY2021 31 Dec 2021 FY2022 31 Dec 2022 FY2023 31 Dec 2023 FY2024 31 Dec 2024 FY2025 31 Dec 2025
Margins
n/a n/a n/a n/a n/a 59.0% 36.9% 57.8% 24.2% 29.6%
n/a −41.7% −18.8% −208.2% −65.5% 16.5% −67.7% 16.7% −26.9% 2.2%
n/a 37.7% −78.8% −168.5% 362.9% 198.4% −214.7% 53.9% −31.2% 11.0%
n/a 33.9% −79.9% −152.2% 366.8% 169.5% −211.2% 53.6% −29.5% 7.6%
n/a 19.8% 15.8% −22.2% −66.5% 15.0% −64.3% −18.1% −80.6% n/a
Spending
n/a n/a n/a n/a 0.0% 0.2% 1.1% 0.6% n/a n/a
n/a 41.6% 14.2% 145.6% 82.2% 40.5% 89.0% 35.5% 45.3% 22.8%
n/a 0.0% 0.0% 1.6% 0.7% 0.1% 1.2% 0.2% 121.5% n/a
n/a 12.0% n/a n/a −1.1% 13.9% n/a −2.2% n/a 21.8%
Returns
−20.4% 7.5% −55.5% −9.9% 39.4% 35.6% −48.4% 11.8% −7.0% 4.0%
−18.3% 7.2% −46.9% −7.8% 21.4% 18.7% −25.9% 10.6% −4.8% 2.8%
Balance and payout
n/a n/a n/a n/a n/a n/a n/a n/a 0.00 0.17
9.6% 4.2% 14.6% 16.1% 41.5% 44.3% 40.1% 6.9% 26.9% 24.2%
n/a 0.0% n/a n/a 1.3% 1.0% n/a 2.1% n/a n/a
0.2% 0.0% 22.2% n/a n/a 41.3% n/a n/a n/a n/a