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First Advantage Corp (FA) stock

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NASDAQ: FA Nasdaq Human Resource & Employment Services Next results ~November 5, 2026

C+ Fundamentals grade

First Advantage Corp is a US-listed company in the human resource & employment services industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Fair value per share

~$25

Cash-flow model

Base case. Range ~$16–$36 across our lower- and higher-growth cases (15%–25% a year).

Price vs value

Modestly undervalued

The price is inside our value range, 10% below our base value.

Price used: $22.06, November 2, 2026

First Advantage Corp valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Insiders1 buying, 4 selling1 purchase and 8 sales by directors and officers, last 12 monthsInsider trades
  • Funds107 adding, 66 cuttingOf 28 active managers that changed their stake, 11 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter First Advantage files

Where First Advantage stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $1.66bn, up 32.9% on a year earlier, slower than 53.5% a quarter earlier. That growth ranks 3 of 23 among the internet and data companies we cover. Free-cash-flow margin rose to 15.0% from 1.0% a year earlier. Operating margin widened to 10.7% from -2.1%. The diluted share count is up 6.2% on a year earlier, which dilutes existing holders. Against its peers on growth, profitability, cash generation and balance sheet, it grades C. It passes 1 of our 6 financial-health checks. Our cash-flow model value is $30.49 a share, against a share price of $19.65.

Source: 10-Q filed August 6, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~November 5, 2026 (estimated)

First Advantage Corp's trailing-twelve-month revenue grew 32.9% year on year, with a free-cash-flow margin of 15.0%. Where it stands out: revenue growth of 32.9% ranks 4 of 21 human resource & employment services companies we cover. Where it lags: change in growth rate of -20.6pp ranks 20 of 20 human resource & employment services companies we cover.

Our discounted-cash-flow model values the business at ~$25 per share in the base case (~$16–$36 across growth scenarios) — model values under stated assumptions, not a price target.

Current signal Revenue growth decelerating: TTM revenue growth slowed to 32.9% (-20.6pp vs the prior quarter), the 3rd consecutive quarterly slowdown.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Fast growth. Revenue grew 32.9% over the last 12 months, against a median of 5.6% for human resource & employment services companies we cover.
  • Margins widening. Operating margin is up 12.8 points on a year ago.
  • Beating expectations. Earnings per share beat the analysts' consensus estimate in each of the last four quarters.
  • Estimates rising. Analysts' consensus for next year's earnings per share has risen 5.4% over 90 days.

Things to watch

  • Results due soon. Results are expected around 5 November; the share price can move sharply on the day.
  • Growth slowing. The growth rate is 20.6 points lower than a quarter earlier.
  • Share dilution. Diluted shares rose 6.2% in a year.
  • High earnings multiple. The shares trade at 152 times the last 12 months' earnings, so expectations are demanding.
  • Volatile shares. Over the past year the shares showed annualised volatility of 61% and a beta of 0.4 against the S&P 500.
  • Below peers: long-term debt as % of assets. Long-term debt as % of assets of 54.3% ranks 14 of 14 human resource & employment services companies we cover (median 11.3%).

Latest results: FY2026 Q2

Filed August 6, 2026
Earnings per share
$0.35 against an average estimate of $0.29: beat by 22.7%
Revenue
$449m, up 14.9% on a year earlier
Share reaction
+16.8% in the first session after the results on August 6, 2026, against +0.5% for the S&P 500
Guidance given
revenues $1.67bn to $1.71bn (full year 2026); adjusted EBITDA $472m to $486m (full year 2026)
Next report
November 5, 2026; average EPS estimate $0.34

First Advantage's figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day+2.2%
  • 1 week+3.8%
  • 1 month+21.9%
  • This year+51.8%
  • 1 year+74.7%
  • 5 years+23.5%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$1.7B
Operating margin
10.7%
Net margin
1.5%
EPS (TTM, diluted)
$0.15

Growth

Revenue growth
+32.9%
Change in growth rate
−20.6 pts
Share count change
+6.2%

Cash

Free cash flow (TTM)
$249M
FCF margin
15.0%
Stock pay % of revenue
1.2%

Earnings

Last results
August 6, 2026
Next results (est.)
November 5, 2026

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Announcement
  2. Insider trade
  3. Results
  4. Guidance

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

First Advantage Corp valuation models and calculator

What the price is pricing in

The share price implies about 15.3% a year of cash-flow growth for five years.That is close to the 18.5% a year revenue growth First Advantage has delivered.

Read with care: free cash flow has swung sharply in the past year (often a one-off tax, legal or working-capital item), so the cash-flow base behind this reading may be unusually low or high.

  • Priced in15.3%
  • Last 12 months32.9%
  • 3 years a year28.7%
  • 5 years a year18.5%

Our cash-flow model with every input fixed except growth over the next five years, solved for the growth at which the model value equals the share price ($21.45, Nov 3, 2026). Cash-flow growth then fades to 2.5% a year; discount rate 8.5%. Delivered figures are revenue growth from SEC filings. This is a model exercise, not investment advice or a forecast of the share price. All companies

Fundamentalytics rating

model v1.6 · 2026-11-03
Hold12-month view
12-month price target
~$25
Price used
$21.45close November 3, 2026
Implied change
▲ +15%
Uncertainty
Medium

How we got here: a discounted-cash-flow model of First Advantage Corp's free cash flow after stock-based pay with after-tax interest added back ($156M, FY2026 Q2 TTM), growing 9.5% and 15.6% in the next two years (forecasts, guidance and its record), then back to 20% by year five, and fading to 2.5%, discounted at 8.5%. Lower and higher growth cases span ~$16–~$36 ; that spread sets a 25% margin before we rate Buy or Sell.

Produced by Fundamentalytics' automated valuation model on November 3, 2026, using delayed market prices. Rating meanings, methodology and conflicts: recommendations disclosure and research disclaimer. General research, not personal advice — it does not consider your circumstances. Prices can fall as well as rise.

Our value per share comes from a discounted-cash-flow model of First Advantage Corp's free cash flow after stock-based pay ( $156M, FY2026 Q2 TTM, with after-tax interest added back): growth for five years as below (the first two years from forecasts, guidance and the company's record), fading to 2.5%, discounted at 8.5%, then cash added and debt and other claims subtracted. These are model values under stated assumptions, not price targets or recommendations.

Valuation models

We value First Advantage Corp as an operating company, with every model that fits that kind of business. Cost of equity 9.5%: the 10-year Treasury yield (4.9%) plus a beta of 1 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Cash-flow model (DCF) Free cash flow to the firm (after stock pay, with after-tax interest added back), grown then faded to 2.5%, discounted at 8.5% as the firm rate, less debt and other claims. ~$25 ~$16–$36 Primary model, counts double
Growth cash-flow model Revenue for this year and next from analysts' consensus, then growth fading to 2.5%; the operating margin moving to profitable peers'; investment needed per dollar of growth from peers; reduced by a failure probability. For young or fast-growing companies. The starting margin is normalized to between -100% and 60%; net margin is a proxy when operating income is not tagged. Uses analysts' consensus estimates (third-party data), not our forecasts. — Does not apply: the projected cash flows don't support a positive value
Forward price-to-earnings vs peers Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$21 ~$17–$29 Included
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. ~$1.3 ~$0.7–$2.3 Left out: out of range vs price (0.06x)
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. — Does not apply: return on equity below long-run growth
Combined value Weighted average of the models that apply: the primary model (cash-flow model (dcf)) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$23 ~$21–$25 2 models

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare First Advantage Corp with Human Resource & Employment Services in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

What moves the value

  • Revenue growth 5 points lower ▼ −28%
  • Revenue growth 5 points higher ▲ +36%
  • Free-cash-flow margin 1 point lower ▼ −8%
  • Discount rate 1 point higher ▼ −19%
Value per share under different assumptions
Discount rate ↓ / growth → −5% growth0% growth5% growth10% growth15% growth20% growth
7% $3$7$14$22$32$46
8.5% —$3$7$13$21$31
10% —$0$4$8$14$22

Valuation multiples over time Market data may be delayed

At fiscal year end 20212022202320242025Now
Share price$17.15$11.71$16.57$18.73$14.53$22.06
Market value$2.4bn$1.8bn$2.4bn$2.8bn$2.5bn$3.8bn
+ Net debt (− = net cash)$272m$173m$351m$2.0bn$1.9bn$1.8bn
Enterprise value$2.7bn$2.0bn$2.8bn$4.8bn$4.4bn$5.6bn
Multiples
Price / sales 3.4x2.2x3.2x3.2x1.6x2.3x
Price / earnings 151.4x27.5x65.0x——152.0x
Price / free cash flow 17.2x8.6x15.1x105.1x13.4x15.4x
EV / EBITDA 20.3x11.9x18.6xn/m18.0x19.4x

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

20 /100

Weak moat

How hard First Advantage's competitive advantage looks for rivals to wear away, judged from 6 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 0 / 20

    Net income has been a median 1.1% of total assets over 6 years.

  • Durability 2 / 20

    Operating margin has been a median 9.4%; its worst year was -2.1%.

  • Cash conversion 19 / 20

    Free cash flow was positive in 6 of 6 years, at a median 18.8% of revenue.

AI disruption exposure: High. In this industry, the core product is information work that AI systems increasingly perform. The score above includes a 15-point deduction for that exposure (35 before it).

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Next results: November 5, 2026, before the open. Analysts expect revenue of $438m and EPS of $0.34 (range $0.29 to $0.35) for the quarter.

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $1.28 +23% $1.7bn +8%
Next $1.51 +18% $1.8bn +7%

Next year's EPS estimate has moved +5.4% in 90 days, across 10 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is +4.1% on 90 days ago. In the last 30 days, 8 analysts raised First Advantage Corp's forecast and 1 cut it.

Consensus EPS forecast First Advantage Corp, last 90 days
$1.20 $1.30 $1.40 $1.50 $1.60 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $1.23 Current fiscal year, 60 days ago: $1.28 Current fiscal year, 30 days ago: $1.28 Current fiscal year, 7 days ago: $1.28 Current fiscal year, Now: $1.28 $1.28 Next fiscal year, 90 days ago: $1.43 Next fiscal year, 60 days ago: $1.51 Next fiscal year, 30 days ago: $1.51 Next fiscal year, 7 days ago: $1.51 Next fiscal year, Now: $1.51 $1.51

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $1.23$1.43
60 days ago $1.28$1.51
30 days ago $1.28$1.51
7 days ago $1.28$1.51
Now $1.28$1.51

Earnings against estimates

Quarter toEstimateActualSurprise
Jun 2026 $0.29 $0.35 +22.7%
Mar 2026 $0.21 $0.26 +25.2%
Dec 2025 $0.26 $0.30 +13.7%
Sept 2025 $0.28 $0.30 +7.2%

Adjusted EPS as companies report it, against the average analyst estimate.

Management guidance

Earnings release, August 6, 2026
  • Revenues full year 2026 $1.67bn to $1.71bn Raised
    “Raising full year 2026 guidance ranges for Revenues of $1.67 billion to $1.71 billion, Adjusted EBITDA of $472 million to $486 million, Adjusted Net Income of $214 million to $225 million, and Adjusted Diluted Earnings Per Share of $1.23 to $1.29” source
  • Adjusted Diluted Earnings Per Share full year 2026 $1.23 to $1.29 Non-GAAP Raised
    “Raising full year 2026 guidance ranges for Revenues of $1.67 billion to $1.71 billion, Adjusted EBITDA of $472 million to $486 million, Adjusted Net Income of $214 million to $225 million, and Adjusted Diluted Earnings Per Share of $1.23 to $1.29” source
  • Adjusted EBITDA full year 2026 $472m to $486m Non-GAAP Raised
    “Raising full year 2026 guidance ranges for Revenues of $1.67 billion to $1.71 billion, Adjusted EBITDA of $472 million to $486 million, Adjusted Net Income of $214 million to $225 million, and Adjusted Diluted Earnings Per Share of $1.23 to $1.29” source
  • Adjusted Net Income full year 2026 $214m to $225m Non-GAAP Raised
    “Raising full year 2026 guidance ranges for Revenues of $1.67 billion to $1.71 billion, Adjusted EBITDA of $472 million to $486 million, Adjusted Net Income of $214 million to $225 million, and Adjusted Diluted Earnings Per Share of $1.23 to $1.29” source

Figures and quotations are management's, copied from the company's own press release (SEC 8-K exhibit) and checked word for word against it. Forward-looking statements are the company's expectations, not ours and not advice; guidance can change or be missed.

How our valuation uses these forecasts

Our cash-flow model grows First Advantage Corp's revenue by +9.5% next year and +15.6% the year after, then fades back toward its own record by year five. Next year's rate weighs analysts' consensus (+6.1%, weight 54%) , management guidance (+5.1%, weight 20%) and the company's own record (+20.0%, weight 26%) . How the weights are set.

Analyst recommendations

10 analysts, Oct 2026
Buy660%
Hold440%
Sell00%

Monthly trend

  1. Oct 202633410
  2. Sep 202633410
  3. Aug 202623510

Counts of recommendations published by analysts covering First Advantage Corp, by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
11.6%
of tradable shares
Days to cover
4.93
at average volume
Short interest, 1 month
−12%
to October 15, 2026
Held by institutions
—
of shares
Held by insiders
2.6%
of shares
Employees
9,500
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

What moved the share price

Last 12 months +74.7%

$12.63 on October 31, 2025 to $22.06

ThenNowEffect
Revenue (last 12 months) $1.3bn $1.7bn +32.9%
P/S multiple 1.6x 2.3x +39.6%
Share count 163m 173m −5.8%

Biggest factor: p/s multiple. Loss-making at one end, so the split uses price/sales.

Last 3 years +65.6%

$13.32 on November 3, 2023 to $22.06

ThenNowEffect
Revenue (last 12 months) $779m $1.7bn +113.4%
Net margin 6.3% 1.5% −76.0%
P/E multiple 40.4x 152.0x +276.5%
Share count 149m 173m −14.2%

Biggest factor: net margin.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 20222023202420252026 to date
Return
FA−32%+42%+13%−22%+52%
Industry peers (median)−17%+4%−17%−35%+17%
S&P 500−18%+26%+25%+18%+11%
Months that ended higher
FA25%58%58%50%73%
S&P 50042%67%75%75%46%
Largest fall from a high during the year
FA−50%−15%−15%−39%−43%
S&P 500−25%−10%−8%−19%−9%

Worst fall since June 23, 2021: 59% from September 10, 2021 to February 23, 2026. Getting back needed a 143% gain, reached on July 16, 2026, 143 days after the low.

Price behaviour

52-week range
$8.95 – $24.12
From 52-week high
−8.5%
vs 50-day average
+9.6%
vs 200-day average
+34.8%
Volatility (1 year)
61%
Beta vs S&P 500
0.42

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
8 up, 4 down
typical move ±10.1%
After a week
9 up, 3 down
typical move ±10.6%
After a month
9 up, 3 down
typical move ±12.0%
Results releasedNext dayS&P 500 next day5 days21 days
August 6, 2026 +16.8% +0.5% +8.0% +4.0%
May 7, 2026 +24.7% +0.5% +15.4% +23.1%
February 26, 2026 +20.9% −1.0% +27.7% +17.1%
November 6, 2025 +2.9% −1.0% +1.5% +5.6%
August 7, 2025 +2.6% +0.7% +3.8% −0.2%
May 8, 2025 +18.0% +0.6% +22.0% +23.9%
February 27, 2025 −19.5% −0.1% −27.8% −25.0%
November 12, 2024 −3.0% −0.3% −5.2% +5.2%
August 8, 2024 +3.2% +2.8% +6.7% +14.6%
May 9, 2024 −1.5% +0.7% +0.7% +3.0%
February 29, 2024 −6.1% +1.3% −4.6% −4.5%
November 9, 2023 +2.2% +0.8% +4.2% +18.4%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Options strategies

All options ideas

How First Advantage Corp’s listed options are priced, and three ways to use them that follow from our valuation. Quotes are delayed, read November 2, 2026. Check the live chain at your broker before trading.

Cash-secured put

Not offered: fundamentals grade C+ (needs B+ or better).

We suggest selling a put only on well-rated companies, at a strike where the price you would pay if assigned (strike less premium) is at or below our fair value.

Covered call

Not offered: no liquid call at or above our price target — the model says the upside is worth more than any listed strike.

For holders: sell a call at a strike at or above our fair value, so the shares are only sold at a price the model calls full value.

Collar

Not offered: the shares trade below our fair value: a collar caps upside the model expects.

For holders of a stock trading at or above our fair value: buy a put for a floor and sell a call to pay for it.

General research, not personal advice. Options can lose you more than you expect and are not suitable for everyone: put sellers can be made to buy shares that keep falling, call sellers give up gains above the strike, and results or news can move prices sharply. Chances shown are approximations from each option’s delta. Spreads, fees and early assignment are not modelled.

First Advantage Corp in five measures

Fundamentals grade C+
Growth Profitability Cash Balance sheet Value

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) First Advantage Corp
$500M $1B $1.5B $2B FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue (TTM), FY23 Q3: $773.8M Revenue (TTM), FY23 Q4: $763.8M Revenue (TTM), FY24 Q1: $757.7M Revenue (TTM), FY24 Q2: $756.9M Revenue (TTM), FY24 Q3: $755.6M Revenue (TTM), FY24 Q4: $860.2M Revenue (TTM), FY25 Q1: $1B Revenue (TTM), FY25 Q2: $1.3B Revenue (TTM), FY25 Q3: $1.5B Revenue (TTM), FY25 Q4: $1.6B Revenue (TTM), FY26 Q1: $1.6B Revenue (TTM), FY26 Q2: $1.7B $1.7B

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Revenue (TTM)
FY23 Q3 $773.8M
FY23 Q4 $763.8M
FY24 Q1 $757.7M
FY24 Q2 $756.9M
FY24 Q3 $755.6M
FY24 Q4 $860.2M
FY25 Q1 $1B
FY25 Q2 $1.3B
FY25 Q3 $1.5B
FY25 Q4 $1.6B
FY26 Q1 $1.6B
FY26 Q2 $1.7B
Revenue growth, TTM YoY First Advantage Corp
-50% 0% 50% 100% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue growth, TTM YoY, FY23 Q3: -4.5% Revenue growth, TTM YoY, FY23 Q4: -5.7% Revenue growth, TTM YoY, FY24 Q1: -4.8% Revenue growth, TTM YoY, FY24 Q2: -2.9% Revenue growth, TTM YoY, FY24 Q3: -2.3% Revenue growth, TTM YoY, FY24 Q4: 12.6% Revenue growth, TTM YoY, FY25 Q1: 38.0% Revenue growth, TTM YoY, FY25 Q2: 65.3% Revenue growth, TTM YoY, FY25 Q3: 93.4% Revenue growth, TTM YoY, FY25 Q4: 83.0% Revenue growth, TTM YoY, FY26 Q1: 53.5% Revenue growth, TTM YoY, FY26 Q2: 32.9% 32.9%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q3 -4.5%
FY23 Q4 -5.7%
FY24 Q1 -4.8%
FY24 Q2 -2.9%
FY24 Q3 -2.3%
FY24 Q4 12.6%
FY25 Q1 38.0%
FY25 Q2 65.3%
FY25 Q3 93.4%
FY25 Q4 83.0%
FY26 Q1 53.5%
FY26 Q2 32.9%
Operating margin (TTM) First Advantage Corp
-10% -5% 0% 5% 10% 15% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Operating margin (TTM), FY23 Q3: 10.5% Operating margin (TTM), FY23 Q4: 10.7% Operating margin (TTM), FY24 Q1: 9.2% Operating margin (TTM), FY24 Q2: 8.2% Operating margin (TTM), FY24 Q3: 6.3% Operating margin (TTM), FY24 Q4: -7.3% Operating margin (TTM), FY25 Q1: -5.2% Operating margin (TTM), FY25 Q2: -2.1% Operating margin (TTM), FY25 Q3: 0.5% Operating margin (TTM), FY25 Q4: 8.4% Operating margin (TTM), FY26 Q1: 9.9% Operating margin (TTM), FY26 Q2: 10.7% 10.7%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Operating margin (TTM)
FY23 Q3 10.5%
FY23 Q4 10.7%
FY24 Q1 9.2%
FY24 Q2 8.2%
FY24 Q3 6.3%
FY24 Q4 -7.3%
FY25 Q1 -5.2%
FY25 Q2 -2.1%
FY25 Q3 0.5%
FY25 Q4 8.4%
FY26 Q1 9.9%
FY26 Q2 10.7%
FCF margin (TTM) First Advantage Corp
0% 10% 20% 30% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 FCF margin (TTM), FY23 Q3: 22.5% FCF margin (TTM), FY23 Q4: 21.0% FCF margin (TTM), FY24 Q1: 21.1% FCF margin (TTM), FY24 Q2: 21.0% FCF margin (TTM), FY24 Q3: 22.4% FCF margin (TTM), FY24 Q4: 3.1% FCF margin (TTM), FY25 Q1: 0.7% FCF margin (TTM), FY25 Q2: 1.0% FCF margin (TTM), FY25 Q3: 2.8% FCF margin (TTM), FY25 Q4: 12.0% FCF margin (TTM), FY26 Q1: 13.5% FCF margin (TTM), FY26 Q2: 15.0% 15.0%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q3 22.5%
FY23 Q4 21.0%
FY24 Q1 21.1%
FY24 Q2 21.0%
FY24 Q3 22.4%
FY24 Q4 3.1%
FY25 Q1 0.7%
FY25 Q2 1.0%
FY25 Q3 2.8%
FY25 Q4 12.0%
FY26 Q1 13.5%
FY26 Q2 15.0%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-Q. Generated November 3, 2026. Definitions in our methodology.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2019 Dec 2019 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025 LTM Jun 2026
Income
Revenue 482 472 712 810 764 860 1,574 1,663
EBITDA 107 60 133 164 149 15 244 289
Operating income 92 −2 64 94 82 −62 132 178
Net income 34 −47 16 65 37 −110 −35 25
Diluted EPS $0.21 −$0.37 $0.11 $0.43 $0.26 −$0.74 −$0.20 $0.15
Growth (year on year)
Revenue — −2.0% +50.8% +13.7% −5.7% +12.6% +83.0% +32.9%
EBITDA — −43.7% +121.1% +23.3% −9.4% −90.1% — +285.5%
Operating income — −102.2% — +47.7% −13.5% −176.5% — —
Net income — −238.7% — +302.5% −42.3% −395.7% — —
Diluted EPS — −276.2% — +290.9% −39.5% −384.6% — —
Margins
EBITDA margin 22.2% 12.8% 18.7% 20.3% 19.5% 1.7% 15.5% 17.4%
Operating margin 19.1% −0.4% 9.0% 11.6% 10.7% −7.3% 8.4% 10.7%
Net margin 7.1% −10.1% 2.3% 8.0% 4.9% −12.8% −2.2% 1.5%
Free-cash-flow margin 13.5% 14.3% 19.8% 25.5% 21.0% 3.1% 12.0% 15.0%
Cash flow
Cash from operations 72 73 149 213 163 28 195 261
Capital spending 7 5 7 6 2 2 7 12
Free cash flow 65 68 141 207 161 26 188 249
Stock-based pay 1 2 10 8 15 32 24 20
Free cash flow after stock pay 64 66 132 199 145 −5 164 229
Balance sheet
Cash 81 153 293 392 214 169 240 238
Total debt 0 812 565 565 565 2,185 2,115 2,034
Net debt (negative = net cash) −81 659 272 173 351 2,016 1,875 1,796
Diluted shares 164m 130m 142m 152m 146m 149m 173m 173m
Returned to shareholders
Buybacks — — 0 61 59 0 0 —
Total returned — — 0 61 59 0 0 —

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

1 of 6 checks passed · June 30, 2026
What it owns · $3.7bn
Short-term assets $581mLonger-term assets $3.2bn
What it owes, and who funded it · $3.7bn
Short-term liabilities $230mLonger-term liabilities $2.2bnShareholders' equity $1.3bn
  • Short-term assets cover short-term liabilities $581m of assets due within a year against $230m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $581m short-term assets against $2.2bn of longer-dated liabilities.
  • More cash than debt $238m of cash against $2.0bn of debt.
  • Debt below 40% of shareholders' equity Debt is 157% of equity.
  • Debt burden no higher than five years ago Debt to equity moved from 49% to 157% over five years.
  • A year's operating cash flow covers at least 20% of debt $261m of operating cash flow against $2.0bn of debt.
  • Operating profit covers interest at least five times over Interest not separately reported. Not assessable.

From First Advantage Corp's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

FY2025 Q2 TTM
Buybacks (TTM)
$0
Returned to shareholders
0%
of free cash flow
Buybacks, last 3 fiscal years
$59.5M
Diluted share count
+6.2%
year over year
Total shareholder yield
0.0%
dividends 0.0% + buybacks 0.0% of market value
R&D spending
6.1%
of revenue
Sales & admin spending
13.5%
of revenue
Days sales outstanding
68 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in human resource & employment services
Last 12 months unless stated FA TBI KFRC BBSI KFY CIRC Median
Revenue, last 12 months $1.7bn $1.7bn $1.4bn $1.3bn $3.0bn $800m $1.7bn
Revenue growth, last 12 months 32.9% 10.2% 2.1% 5.6% 6.9% 80.5% 5.6%
Revenue growth, 3-year average 28.7% −6.6% −4.8% 5.9% 1.4% >999% −0.5%
Revenue growth, latest quarter 14.9% 11.8% 7.5% 3.8% 6.9% 210.8% 5.2%
Gross margin — 21.2% 27.8% 20.0% — 8.6% 28.0%
Operating margin 10.7% −2.9% 4.5% 4.1% 12.9% −7.8% 1.0%
Operating margin, 3-year average 5.6% −3.3% 4.7% 4.8% 11.3% −5.9% 2.3%
Net margin 1.5% −3.3% 3.0% 2.8% 9.4% −19.4% 1.5%
Cash from operations / revenue 15.7% −3.2% 1.6% 2.9% 13.5% −2.9% 1.9%
Free-cash-flow margin 15.0% −4.0% 0.6% 1.2% 10.7% −2.9% 1.2%
Free-cash-flow margin, 3-year average 12.3% −3.1% 3.3% 1.1% 10.3% −2.5% 2.4%
Stock pay / revenue 1.2% 0.4% 1.1% 0.8% 1.6% 3.6% 1.3%
Change in share count 6.2% 1.3% −4.7% −3.3% −0.8% 31.5% −0.1%

Median of all 21 companies we cover in human resource & employment services. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

21 human resource & employment services companies
Measure Company Peer median Rank
Revenue growth Growth 32.9% 5.6% 4 of 21
Change in growth rate Growth -20.6pp +0.5pp 20 of 20
Operating margin Profitability 10.7% 0.6% 4 of 19
Net margin Profitability 1.5% 1.5% 11 of 21
Free-cash-flow margin Cash generation 15.0% 1.2% 4 of 21
Stock pay as % of revenue Cash generation 1.2% 1.3% 10 of 20
Long-term debt as % of assets Balance sheet 54.3% 11.3% 14 of 14
Change in share count Balance sheet 6.2% -0.1% 15 of 20
Days sales outstanding Balance sheet 68 days 68 days 10 of 18

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to December 31, 2025
Segments
Line of business Revenue Share YoY
Sterling $775M 49.2% ▲ 586.6%
First Advantage Americas $700M 44.5% ▲ 6.6%
First Advantage International $99.3M 6.3% ▲ 9.8%
Geography
Region Revenue Share YoY
United States $1.4B 85.8% ▲ 82.4%
Outside the US $223M 14.2% ▲ 86.6%

From First Advantage Corp's 10-K filed February 26, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$3.5B
Institutions reporting
175
Shares held vs prior quarter
▲ 4.9%
Positions opened / closed
37 / 25

Top buyers and sellers, Q2 2026: 107 institutions bought and 66 sold ; the biggest buyer was Blackrock, Inc (+6.1M shares) and the biggest seller FMR LLC (−1.4M). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Silver Lake Group, L.L.C. $1.6B 89.6M 45.9% 0.0%
Price T Rowe Associates Inc $284M 15.7M 8.1% ▲ 3.9%
Blackrock, Inc. $218M 12.1M 6.2% ▲ 101.4%
Capital World Investors $193M 10.7M 5.5% ▲ 2.8%
FMR LLC $138M 7.7M 3.9% ▼ 15.7%
Alliancebernstein L.P. $89.6M 7.6M 2.5% ▼ 3.6%
Cat Rock Capital Management LP $76.3M 4.2M 2.2% 0.0%
Vanguard Portfolio Management LLC $74.3M 4.1M 2.1% ▲ 16.8%
BAMCO Inc $63.2M 3.5M 1.8% ▼ 6.6%
Vanguard Capital Management LLC $62.3M 3.5M 1.8% ▲ 0.1%
Boston Partners $59.5M 3.2M 1.7% ▲ 19.8%
State Street Corp $58.1M 3.2M 1.7% ▲ 69.9%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not First Advantage Corp's complete shareholder register. Values are as reported by the filers .

Insider trading activity

Full insider history and chart
Insider purchases History → $106,740 1 trade by 1 insider, last 12 months Insider sales History → $276M 8 trades by 4 insiders · 0% under pre-set plans
Net ▼ $276M net selling
Insider Date Trade Shares Price Value
Slta V (Gp), L.L.C. Director August 12, 2026 Sell 12,500,000 $22.02 $275M
Clark James Lindsey Director June 8, 2026 Sell pre-set plan 4,921 $15.69 $77,210
Jardine Bret T Chief Legal Officer June 1, 2026 Sell pre-set plan 25,000 $16.71 $417,640
Jardine Bret T Chief Legal Officer May 12, 2026 Sell pre-set plan 682 $16.12 $10,994
Smith Joelle M President May 7, 2026 Sell pre-set plan 23,334 $15.00 $350,012
Jardine Bret T Chief Legal Officer March 5, 2026 Sell pre-set plan 600 $12.09 $7,254
Jardine Bret T Chief Legal Officer March 4, 2026 Sell pre-set plan 1,090 $12.32 $13,429
Nairne Douglas Global Chief Operating Officer March 2, 2026 Buy 9,000 $11.86 $106,740
Jardine Bret T Chief Legal Officer November 17, 2025 Sell pre-set plan 954 $13.13 $12,526

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Earnings dates and SEC filings

Results announcements

Next expected around November 5, 2026 estimated from the company's past filing pattern, not announced

  • August 6, 2026
  • May 7, 2026
  • February 26, 2026
  • November 6, 2025
  • August 7, 2025
  • May 8, 2025

Recent SEC filings

Data status

When each part of this page on First Advantage Corp was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

First Advantage Corp in brief

What does First Advantage Corp do?
First Advantage Corp is a US-listed company in the human resource & employment services industry. Its financial year ends in December.
What is First Advantage Corp's stock ticker?
First Advantage Corp trades under the ticker FA on Nasdaq. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is First Advantage Corp's revenue, and how fast is it growing?
Over its most recent trailing twelve months, First Advantage Corp reported revenue of $1.7B, 32.9% higher than a year earlier, according to its SEC filings.
What is First Advantage Corp's free cash flow?
First Advantage Corp's free-cash-flow margin is 15.0% of revenue over the trailing twelve months, ranking 4 of the 21 human resource & employment services companies we cover.
What is First Advantage Corp's fair value (intrinsic value) per share?
Our discounted-cash-flow model of First Advantage Corp's free cash flow after stock-based pay gives ~$25 per share in the base case, and ~$16–$36 across growth scenarios. These are model values under stated assumptions — not a price target or a recommendation.
Who are First Advantage Corp's largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Silver Lake Group, L.L.C., Price T Rowe Associates Inc and Blackrock, Inc. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
Is First Advantage Corp buying back stock, and does it pay a dividend?
First Advantage Corp spent $0 on share repurchases over the trailing twelve months, and its diluted share count still rose 6.2% over the year.
What is First Advantage Corp's market cap?
On November 2, 2026, First Advantage Corp's market capitalisation was about $3.8B, with a price-to-earnings ratio of 152.0 and net debt of $1.8B. Market figures come from third-party market data and may be delayed.
How much debt does First Advantage Corp have?
First Advantage Corp's debt-to-equity ratio is 157.2%, from its latest balance sheet (49.0% five years earlier). The financial health section below sets out its other solvency checks.
Who are First Advantage Corp's competitors?
In our Human Resource & Employment Services peer group, the companies closest to First Advantage Corp are Trueblue, Inc., Kforce Inc, Barrett Business Services Inc, Korn Ferry and Circle8 Group Inc. The side-by-side comparison below sets their revenue, margins and growth against First Advantage Corp's.
Are insiders buying or selling First Advantage Corp stock?
Over the last 12 months, First Advantage Corp's directors and officers reported 1 open-market purchases and 8 sales on Form 4. The insider trading page charts every trade.
When is First Advantage Corp's next earnings date?
Around November 5, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — First Advantage Corp announces its own schedule.