Short answer
Acadia Healthcare Company Inc (ACHC) filed its fiscal 2017 10-K annual report with the SEC on Feb 27, 2018. It reported revenue of $2.8B (+0.9% year over year) and net income of $200M.
- Top risk flagged: False Claims Act, Anti-Kickback Statute and Stark Law exposure, including referral arrangements lacking safe-harbor protection
FY2017 key financial metrics · XBRL
- Revenue
- $2.8B
- +0.9% YoY
- Net income
- $200M
- +3153.1% YoY
- Operating margin
- 21.3%
- −0.3 pp YoY
- EPS (diluted)
- $2.30
- +3185.7% YoY
- ROE
- 7.8%
- +7.5 pp YoY
- Operating cash flow
- $400M
- +10.5% YoY
Source: XBRL data from the Acadia Healthcare Company Inc (ACHC) FY2017 10-K on SEC EDGAR. USD.
Acadia Healthcare Company Inc FY2017 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- Behavioral healthcare platform, acquiring, developing and optimizing facilities across the U.S., U.K. and Puerto Rico
- 2017 expansion: Aspire Scotland acquisition for $21.3 million and 750 organically added beds, including two de novo facilities
- Scale-led positioning: 582 facilities, approximately 17,800 beds, and national marketing enabling broader services and out-of-state referrals
- Workforce approximately 40,600, split between 20,000 U.S. and 20,600 U.K. employees, with 27,500 full-time
- U.K. operations represented approximately 36% of revenue, supported by 373 facilities and approximately 8,900 beds after Priory integration and divestiture calcifications
Management Discussion & Analysis
- Revenue $2.84B, up $25.4M or 0.9% YoY, with same-facility revenue up 5.5% to $2.9B
- Income from continuing operations $199.6M, margin 7.1% vs 0.2%; effective tax rate 15.7% vs 87.3%
- U.S. Facilities largest segment, while U.K. revenue declined to $937.6M from $1.02B amid divestiture and GBP weakness
- Operating cash flow $401.3M; capex $274.2M, including $203.4M expansion and $70.8M routine spending
- Outlook: more than 800 beds planned for 2018; risks include leverage, U.K. instability, NHS dependence and GBP volatility
Risk Factors
- False Claims Act, Anti-Kickback Statute and Stark Law exposure, including referral arrangements lacking safe-harbor protection
- Brexit-related GBP weakness, with U.K. revenue representing approximately 36% of total revenue
- U.K. staffing shortages, particularly nurses and qualified addiction counselors, requiring more expensive temporary personnel
- NHS competition, controlling approximately 70% of U.K. secure mental healthcare beds
- Approximately $3.2 billion total debt, including $1.8 billion under the Amended and Restated Senior Credit Facility
Generated from the filing text; verify against the original. How to read a 10-K
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