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Acacia Research Corp (ACTG) stock analysis

ACTGNasdaqPatent Owners & LessorsFiscal year ends December 31
Financials through Q3 FY2026, quarter ended Sep 30, 2026Last filing: 10-K/A on Nov 6, 2026Score 5/304% above fair value
$4.14−0.03 (-0.72%)

Close on Nov 11, 2026Market cap $404.01MP/E –Yield –

StockData Score

Prices as of Nov 11, 2026How the score works

Value1Growth1Performance0Health3Dividend0

Weak5 of 30 checks passed

Acacia Research passes 5 of the 30 checks behind our score; 10 could not be run for lack of data and count as not passed. Each dot in the shape is one check — hover it for the numbers.

Valuation
1/6
Growth
1/6
Past performance
0/6
Financial health
3/6
Dividend
0/6

What stands out

  • Low debt

    Debt is 3.3% of shareholders' equity, under the 40% we consider low.

  • Revenue growing 10%+ a year

    Revenue grew 68.9% a year over the last three fiscal years.

  • Debt covered by cash flow

    Operating cash flow over the last twelve months equals 208% of total debt.

  • P/B below the industry

    Acacia Research's price-to-book of 0.77 is below the Miscellaneous Investing median of 1.20.

What to watch

  • Margin of safety under 20%

    The price is 4.0% above fair value, so there is no margin of safety.

  • Trading above fair value

    The share price of $4.14 is above our fair value estimate of $3.98.

  • Return on equity under 15%

    Return on equity was -3.4% over the last twelve months and averaged 3.9% over five years; we look for 15% on both.

  • Return on capital under 10%

    Return on invested capital was -6.0%, below the 10% that usually covers the cost of capital.

Valuation1/6

  • P/E against its history

    Not enough price and earnings history to compare.

  • P/E against the industry

    Needs positive earnings and enough profitable companies in the industry.

  • EV/EBITDA above its 5-year median

    Acacia Research's EV/EBITDA of 7.3 is above its 5-year median of 2.5.

  • P/B below the industry

    Acacia Research's price-to-book of 0.77 is below the Miscellaneous Investing median of 1.20.

  • Trading above fair value

    The share price of $4.14 is above our fair value estimate of $3.98.

  • Margin of safety under 20%

    The price is 4.0% above fair value, so there is no margin of safety.

Growth1/6

  • Revenue growing 10%+ a year

    Revenue grew 68.9% a year over the last three fiscal years.

  • EPS growth over 3 years

    Needs positive EPS three years ago and today.

  • Earnings growth not accelerating

    Net income grew -469% over the last twelve months, against a 5-year average of -27.6% a year.

  • Growing slower than the industry

    Revenue grew -3.7% over the last twelve months; the Miscellaneous Investing median is 4.6%.

  • Company guidance

    No outlook found in earnings releases from the last twelve months.

  • Gross margin slipping

    Gross margin was 23.2% over the last twelve months, against 30.5% a year earlier.

Past performance0/6

  • Return on equity under 15%

    Return on equity was -3.4% over the last twelve months and averaged 3.9% over five years; we look for 15% on both.

  • Return on capital under 10%

    Return on invested capital was -6.0%, below the 10% that usually covers the cost of capital.

  • Return on equity below the industry

    Acacia Research's return on equity of -3.4% is below the Miscellaneous Investing median of 3.1%.

  • Earnings shrank over 5 years

    Net income shrank 27.6% a year on average over the last five fiscal years.

  • Net margin below its 5-year average

    Net margin was -6.5% over the last twelve months, against a 5-year average of -2.0%.

  • Net margin below the industry

    Acacia Research's net margin of -6.5% is below the Miscellaneous Investing median of 10.3%.

Financial health3/6

  • Low debt

    Debt is 3.3% of shareholders' equity, under the 40% we consider low.

  • Debt trend

    Needs a balance sheet from five years ago with positive equity.

  • Debt covered by cash flow

    Operating cash flow over the last twelve months equals 208% of total debt.

  • Interest not well covered

    Operating income covers interest expense -2.2 times; we look for at least 5.

  • Short-term assets cover short-term debts

    Current assets are 5.64 times current liabilities.

  • Elevated bankruptcy risk

    The Altman Z-score is 1.58; above 3 is the safe zone and below 1.8 the distress zone.

Dividend0/6

  • No dividend

    Acacia Research has not paid a dividend in the last twelve months.

  • Yield against Treasuries

    No dividend.

  • Yield against the market

    No dividend.

  • Dividend stability

    No dividend.

  • Earnings cover

    No dividend.

  • Cash-flow cover

    No dividend.

Scores of similar companies

Fair value

How we estimate it

Our estimate per share

$3.98

The share price is 4% above this estimate.

20%+ below
Near fair value
20%+ above
$4.14Price
MethodMultiple usedOwn 5Y medianIndustry medianValue per shareWeight
EV/EBITDA5.9×2.5×9.5×$4.2258%
P/B1.0×0.7×1.2×$5.1017%
Earnings power8.9% cost of equity––$2.6625%
Fair value$3.98100%

Valuation over time

Using the earnings and balance sheet published at each date, not today's.

  • P/E at month end
  • Miscellaneous Investing median 26.3

An estimate from reported numbers and market multiples, not a price target or investment advice. It can be far off for companies whose profits are about to change sharply.

Market risk

From the past year of daily prices.

Liquidity

High risk

Average value traded per day
$706.76K
Value traded per 1% price move
$627.48K

Downside

Low risk

Typical loss in a bad month
8.0%
Volatility (annualized)
34%
Sharpe ratio, 1 year
0.27
Beta to the S&P 500 (5Y)
0.80

Typical bad-month loss, week by week

25%: high

Margins

Share of revenue, fiscal years 2011 to 2025

Gross margin

29.6%+13.0 pts over 5 years

Operating margin

2.2%+67.8 pts over 5 years

Net margin

7.6%−359.2 pts over 5 years

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