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CONS: They have a high PE. Peter Lynch says 15-20 for a fast grower. However he also says it can equal their growth rate. PE/GR is 1.15, so it's still a little high. They also have a lot of debt, which naturally expands with each acquisition. Half of it is in notes and bonds. The other half are loans and a credit line from BofA, who puts liens on each new acquisition. Their cash reserves have gotten low the past couple quarters. In fact their cash+property is half their LT debt. Yikes! However it is enough to cover the BoA loans. Also though current cash is low (due to acquisitions), their net cash flow has increased the last couple quarters.PROS: They have been growing like mad. With 50 clinics in 22 states with 4100 beds. They added 300 beds this year and plan to add the same next year. Their same-facility revenue is up almost 10%. Employees at acquired clinics reportedly welcome Acadia's new operational procedures. Finally one similar company, UHS has a marketcap 4x, sales 20x, and is still growing steadily. This tells me ACHC has a lot of room to grow.BOTTOM LINE: At least for the next several months I'm anticipating growth at the same rate.
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