Acacia Research Corporation (Acacia Tech) Common Stock (ACTG)

FairStock Score: 55/100 — STEADY

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

Acacia Research is not a business I could easily understand or predict. It is an acquirer and operator across intellectual property, industrial, energy, and manufacturing, and it also makes printers. That mix may create opportunities, but it does not obviously give a durable competitive moat. The record is lumpy. In fiscal 2023, the company earned $67.1 million on $125.1 million of revenue. In fiscal 2024, it lost $36.1 million on $122.3 million. In fiscal 2025, it earned $21.7 million on $285.2 million, so revenue more than doubled and profit rebounded. The Lynch category is TURNAROUND — returned to profit after a loss within the last three years. But the latest filed quarter, fiscal Q2 2026 ended 2026-06-30, showed $114.6 million of revenue and only $47,000 of net income. That is a 0.04% margin. Fiscal Q1 2026 had a $15.7 million net loss. Financial health is mixed. Debt is modest, with D/E 0.18, and FairStock's Piotroski F-Score is 7/9. But FairStock's Altman Z-Score is 1.36, and trailing free cash flow is just $875,000, a 0.2% FCF yield on the $429.4 million market cap. Valuation: at the 2026-10-13 close of $4.40, FairStock calculates P/B at 0.81, P/E at -27.50, and EV/EBITDA at 13.21. The stock is below book value, which can attract Graham-minded investors, but negative ROE of -4.17% and ROCE of -1.54% show the assets are not yet producing reliable returns. Growth is real but erratic. I would want consistent margins and cash generation before calling this a bargain.

In plain English: Acacia Research buys and runs businesses in areas such as patents, industrial equipment, energy and printing. Its results are uneven: revenue rose sharply in fiscal 2025 and it returned to profit, but recent quarterly profit was nearly zero and cash generation is very small. At $4.40, the stock trades below its accounting net assets, but the business has not shown it can earn steady profits.

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Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q2 2026 10-Q (period ended 2026-06-30) · fiscal Q1 2026 10-Q (period ended 2026-03-31) · fiscal Q3 2025 10-Q (period ended 2025-09-30) · fiscal Q2 2025 10-Q (period ended 2025-06-30) · FY2025 10-K (period ended 2025-12-31) · FY2024 10-K (period ended 2024-12-31) · FY2023 10-K (period ended 2023-12-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer