Advantage Solutions Inc. Financials

ADV

Source SEC Filings (10-K/10-Q) Updated Sep 30, 2025 Currency USD FYE December

This page shows Advantage Solutions Inc. (ADV) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 4 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Key Financial Metrics

Revenue

$3.6B

YoY-1.0%

Advantage Solutions Inc. generated $3.6B in revenue in fiscal year 2024. This represents a decrease of 1.0% from the prior year.

EBITDA

-$90.4M

YoY-119.2%

Advantage Solutions Inc.'s EBITDA was -$90.4M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 119.2% from the prior year.

Free Cash Flow

$85.3M

YoY-10.1%

Advantage Solutions Inc. generated $85.3M in free cash flow in fiscal year 2024, representing cash available after capex. This represents a decrease of 10.1% from the prior year.

Net Income

-$327.0M

YoY-700.0%

Advantage Solutions Inc. reported -$327.0M in net income in fiscal year 2024. This represents a decrease of 700.0% from the prior year.

EPS (Diluted)

$-0.20

YoY-217.6%

Advantage Solutions Inc. earned $-0.20 per diluted share (EPS) in fiscal year 2024. This represents a decrease of 217.6% from the prior year.

Cash & Debt

$205.2M

YoY+24.7%

Advantage Solutions Inc. held $205.2M in cash against $1.7B in long-term debt as of fiscal year 2024.

Dividends Per Share

N/A

Shares Outstanding

321M

YoY+1.2%

Advantage Solutions Inc. had 321M shares outstanding in fiscal year 2024. This represents an increase of 1.2% from the prior year.

Gross Margin

14.2%

YoY-3.5pp

Advantage Solutions Inc.'s gross margin was 14.2% in fiscal year 2024, indicating the percentage of revenue retained after direct costs. This is down 3.5 percentage points from the prior year.

Operating Margin

-8.3%

YoY-14.7pp

Advantage Solutions Inc.'s operating margin was -8.3% in fiscal year 2024, reflecting core business profitability. This is down 14.7 percentage points from the prior year.

Net Margin

-9.2%

YoY-10.7pp

Advantage Solutions Inc.'s net profit margin was -9.2% in fiscal year 2024, showing the share of revenue converted to profit. This is down 10.7 percentage points from the prior year.

Return on Equity

N/A

R&D Spending

N/A

Share Buybacks

$34.1M

YoY+171.1%

Advantage Solutions Inc. spent $34.1M on share buybacks in fiscal year 2024, returning capital to shareholders by reducing shares outstanding. This represents an increase of 171.1% from the prior year.

Capital Expenditures

$7.8M

YoY-74.9%

Advantage Solutions Inc. invested $7.8M in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents a decrease of 74.9% from the prior year.

ADV Income Statement

Metric	FY24	FY23	FY22	FY20
Revenue	$3.6B-1.0%	$3.6B+14.2%	$3.2B-14.9%	$3.7B
Cost of Revenue	$3.1B+3.2%	$3.0B+16.2%	$2.6B-17.9%	$3.1B
Gross Profit	$507.3M-20.5%	$638.2M+5.6%	$604.2M+0.9%	$599.0M
R&D Expenses	N/A	N/A	N/A	N/A
SG&A Expenses	$324.6M+93.1%	$168.1M-45.1%	$306.3M+100.8%	$152.5M
Operating Income	-$295.0M-228.2%	$230.0M+243.3%	$67.0M+106.1%	-$1.1B
Interest Expense	$146.8M+6.4%	$137.9M-41.1%	$234.0M+1.9%	$229.6M
Income Tax	-$62.8M-286.8%	$33.6M+730.6%	-$5.3M+96.8%	-$168.3M
Net Income	-$327.0M-700.0%	$54.5M+131.0%	-$175.8M+84.8%	-$1.2B
EPS (Diluted)	$-0.20-217.6%	$0.17+121.5%	$-0.79	N/A

Metric	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24	Q4'23
Revenue	$915.0M+4.7%	$873.7M+6.3%	$821.8M-15.5%	$972.3M-4.7%	$1.0B+5.8%	$963.8M+2.1%	$944.4M+35.0%	$699.4M
Cost of Revenue	$776.4M+3.9%	$746.9M+3.3%	$722.8M-14.8%	$848.3M-4.9%	$892.3M+5.3%	$847.5M+2.5%	$826.9M+29.8%	$637.2M
Gross Profit	$138.6M+9.3%	$126.8M+28.0%	$99.0M-20.1%	$124.0M-2.6%	$127.4M+9.6%	$116.2M-1.1%	$117.5M+89.2%	$62.1M
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$57.6M-16.2%	$68.7M+5.8%	$64.9M-15.9%	$77.2M+13.0%	$68.3M+40.9%	$48.5M-13.9%	$56.3M+53.1%	$36.8M
Operating Income	$40.2M+301.2%	$10.0M+168.5%	-$14.6M-181.5%	$17.9M+169.7%	$6.7M-56.4%	$15.3M+126.1%	$6.7M+100.4%	-$1.6B
Interest Expense	$35.0M-2.4%	$35.8M+4.2%	$34.4M-25.1%	$45.8M+8.5%	$42.3M+38.9%	$30.4M-35.4%	$47.2M+15.7%	$40.8M
Income Tax	-$15.3M-430.0%	$4.6M-35.3%	$7.1M+131.2%	-$22.8M-247.4%	-$6.6M-193.1%	-$2.2M+62.5%	-$6.0M+96.5%	-$170.0M
Net Income	$20.6M+167.6%	-$30.4M+45.8%	-$56.1M-423.2%	$17.4M+171.3%	-$24.3M-177.8%	-$8.8M+81.6%	-$47.6M+96.7%	-$1.4B
EPS (Diluted)	$-0.13+58.1%	$-0.31-1450.0%	$-0.02-140.0%	$0.05+171.4%	$-0.07-133.3%	$-0.03+80.0%	$-0.15+96.6%	$-4.47

ADV Balance Sheet

Metric	FY24	FY23	FY22	FY20
Total Assets	$3.1B-46.9%	$5.9B+1.3%	$5.8B	N/A
Current Assets	$910.7M-17.5%	$1.1B+22.7%	$899.8M	N/A
Cash & Equivalents	$205.2M+24.7%	$164.6M-19.4%	$204.3M+44.3%	$141.6M
Inventory	N/A	N/A	N/A	N/A
Accounts Receivable	$603.1M	N/A	N/A	N/A
Goodwill	$477.0M-78.4%	$2.2B+2.0%	$2.2B+2.7%	$2.1B
Total Liabilities	$2.4B-27.9%	$3.3B+0.4%	$3.3B	N/A
Current Liabilities	$460.1M-28.7%	$645.5M+12.3%	$575.0M	N/A
Long-Term Debt	$1.7B-16.9%	$2.0B0.0%	$2.0B	N/A
Total Equity	$748.7M-71.0%	$2.6B+2.4%	$2.5B+50.9%	$1.7B
Retained Earnings	-$2.6B-204.8%	-$866.6M+5.9%	-$921.1M	N/A

Metric	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24	Q4'23
Total Assets	$3.0B-1.2%	$3.0B+0.5%	$3.0B-20.3%	$3.8B-6.9%	$4.1B-1.6%	$4.1B-0.4%	$4.1B-2.9%	$4.3B
Current Assets	$943.9M+1.9%	$926.7M+5.4%	$879.0M-13.1%	$1.0B-9.5%	$1.1B-0.1%	$1.1B+2.4%	$1.1B-5.5%	$1.2B
Cash & Equivalents	$201.1M+95.5%	$102.9M-15.1%	$121.1M+0.3%	$120.8M-29.5%	$171.4M+4.1%	$164.7M+10.5%	$149.1M+26.3%	$118.0M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	$635.4M-5.6%	$673.3M+4.9%	$641.7M-2.7%	$659.5M-20.3%	$827.8M+1.4%	$816.3M	N/A	$869.0M
Goodwill	$477.0M0.0%	$477.0M0.0%	$477.0M-32.8%	$710.2M-19.9%	$886.8M-0.4%	$890.3M+0.1%	$889.6M+22.7%	$724.8M
Total Liabilities	$2.3B-2.6%	$2.3B+1.2%	$2.3B-13.4%	$2.7B-7.0%	$2.9B-1.5%	$2.9B-0.8%	$2.9B-2.9%	$3.0B
Current Liabilities	$428.9M-9.4%	$473.4M+7.1%	$441.9M-18.4%	$541.3M-14.6%	$633.9M+6.4%	$595.5M+12.1%	$531.0M-11.6%	$600.7M
Long-Term Debt	$1.7B-0.1%	$1.7B-0.1%	$1.7B-9.9%	$1.8B-3.2%	$1.9B-2.9%	$2.0B-2.6%	$2.0B-0.2%	$2.0B
Total Equity	$708.5M+3.6%	$683.6M-1.7%	$695.6M-37.0%	$1.1B-6.1%	$1.2B-1.8%	$1.2B+0.6%	$1.2B-2.9%	$1.2B
Retained Earnings	-$2.7B+0.8%	-$2.7B-1.1%	-$2.7B-16.6%	-$2.3B+0.6%	-$2.3B-1.1%	-$2.3B-0.4%	-$2.3B-2.1%	-$2.2B

ADV Cash Flow Statement

Metric	FY24	FY23	FY22	FY20
Operating Cash Flow	$93.1M-26.1%	$126.0M-63.6%	$345.7M+173.6%	$126.3M
Capital Expenditures	$7.8M-74.9%	$31.2M+0.7%	$30.9M-34.4%	$47.2M
Free Cash Flow	$85.3M-10.1%	$94.8M-69.9%	$314.8M+297.5%	$79.2M
Investing Cash Flow	$206.4M+372.2%	-$75.8M+23.4%	-$99.0M+57.2%	-$231.4M
Financing Cash Flow	-$211.4M-145.0%	-$86.3M+62.5%	-$230.2M-428.1%	$70.1M
Dividends Paid	$0	$0	N/A	N/A
Share Buybacks	$34.1M+171.1%	$12.6M	$0	N/A

Metric	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24	Q4'23
Operating Cash Flow	N/A	N/A	-$39.6M	N/A	N/A	N/A	$43.1M	N/A
Capital Expenditures	N/A	N/A	$15.1M	N/A	N/A	N/A	$6.0M	N/A
Free Cash Flow	N/A	N/A	-$54.7M	N/A	N/A	N/A	$37.1M	N/A
Investing Cash Flow	N/A	N/A	-$18.4M	N/A	N/A	N/A	-$7.3M	N/A
Financing Cash Flow	N/A	N/A	-$22.1M	N/A	N/A	N/A	-$6.9M	N/A
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	$869K	N/A	N/A	N/A	$0	N/A

ADV Financial Ratios

Metric	FY24	FY23	FY22	FY20
Gross Margin	14.2%-3.5pp	17.7%-1.4pp	19.1%+3.0pp	16.2%
Operating Margin	-8.3%-14.7pp	6.4%+4.3pp	2.1%+31.5pp	-29.4%
Net Margin	-9.2%-10.7pp	1.5%+7.1pp	-5.6%+25.6pp	-31.2%
Return on Equity	N/A	2.1%	N/A	N/A
Return on Assets	-10.5%-11.5pp	0.9%+4.0pp	-3.0%	N/A
Current Ratio	1.98+0.3	1.71+0.1	1.56	N/A
Debt-to-Equity	2.25+1.5	0.79-0.0	0.81	N/A
FCF Margin	2.4%-0.2pp	2.6%-7.3pp	10.0%+7.8pp	2.1%

Metric	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24	Q4'23
Gross Margin	15.2%+0.6pp	14.5%+2.5pp	12.0%-0.7pp	12.8%+0.3pp	12.5%+0.4pp	12.1%-0.4pp	12.4%+3.6pp	8.9%
Operating Margin	4.4%+3.2pp	1.1%+2.9pp	-1.8%-3.6pp	1.8%+1.2pp	0.7%-0.9pp	1.6%+0.9pp	0.7%+228.4pp	-227.7%
Net Margin	2.3%+5.7pp	-3.5%+3.4pp	-6.8%-8.6pp	1.8%+4.2pp	-2.4%-1.5pp	-0.9%+4.1pp	-5.0%+198.6pp	-203.6%
Return on Equity	2.9%	N/A	N/A	1.6%	N/A	N/A	N/A	N/A
Return on Assets	0.7%+1.7pp	-1.0%+0.8pp	-1.9%-2.3pp	0.5%+1.1pp	-0.6%-0.4pp	-0.2%+0.9pp	-1.1%+32.3pp	-33.4%
Current Ratio	2.20+0.2	1.96-0.0	1.99+0.1	1.87+0.1	1.76-0.1	1.88-0.2	2.06+0.1	1.93
Debt-to-Equity	2.35-0.1	2.43+0.0	2.39+0.7	1.67+0.1	1.62-0.0	1.64-0.1	1.70+0.0	1.65
FCF Margin	N/A	N/A	-6.7%	N/A	N/A	N/A	3.9%	N/A

Financial Health Signals

Financial Profile 25/100

Profitability

Growth

Leverage

Liquidity

Cash Flow

Returns

N/A

Based on FY2024 annual data. Scores normalized against common benchmarks.

Piotroski F-Score Neutral

4/9

Financial strength trend (9 signals). 7-9 = strong, 0-3 = weak.

Earnings Quality Mixed

-0.28x

Operating cash flow vs net income. Above 1.0x = cash-backed earnings.

Interest Coverage At Risk

-2.0x

Operating income vs interest expense. Above 5x = safe, below 2x = risky.

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Frequently Asked Questions

What is Advantage Solutions Inc.'s annual revenue?

Advantage Solutions Inc. (ADV) reported $3.6B in total revenue for fiscal year 2024. This represents a -1.0% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Advantage Solutions Inc.'s revenue growing?

Advantage Solutions Inc. (ADV) revenue declined by 1% year-over-year, from $3.6B to $3.6B in fiscal year 2024.

Is Advantage Solutions Inc. profitable?

No, Advantage Solutions Inc. (ADV) reported a net income of -$327.0M in fiscal year 2024, with a net profit margin of -9.2%.

What is Advantage Solutions Inc.'s earnings per share (EPS)?

Advantage Solutions Inc. (ADV) reported diluted earnings per share of $-0.20 for fiscal year 2024. This represents a -217.6% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

What is Advantage Solutions Inc.'s EBITDA?

Advantage Solutions Inc. (ADV) had EBITDA of -$90.4M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.

How much debt does Advantage Solutions Inc. have?

As of fiscal year 2024, Advantage Solutions Inc. (ADV) had $205.2M in cash and equivalents against $1.7B in long-term debt.

What is Advantage Solutions Inc.'s gross margin?

Advantage Solutions Inc. (ADV) had a gross margin of 14.2% in fiscal year 2024, indicating the percentage of revenue retained after direct costs of goods sold.

What is Advantage Solutions Inc.'s operating margin?

Advantage Solutions Inc. (ADV) had an operating margin of -8.3% in fiscal year 2024, reflecting the profitability of core business operations before interest and taxes.

What is Advantage Solutions Inc.'s net profit margin?

Advantage Solutions Inc. (ADV) had a net profit margin of -9.2% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.

What is Advantage Solutions Inc.'s free cash flow?

Advantage Solutions Inc. (ADV) generated $85.3M in free cash flow during fiscal year 2024. This represents a -10.1% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is Advantage Solutions Inc.'s operating cash flow?

Advantage Solutions Inc. (ADV) generated $93.1M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.

What are Advantage Solutions Inc.'s total assets?

Advantage Solutions Inc. (ADV) had $3.1B in total assets as of fiscal year 2024, including both current and long-term assets.

What are Advantage Solutions Inc.'s capital expenditures?

Advantage Solutions Inc. (ADV) invested $7.8M in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.

Does Advantage Solutions Inc. buy back shares?

Yes, Advantage Solutions Inc. (ADV) spent $34.1M on share buybacks during fiscal year 2024, returning capital to shareholders by reducing shares outstanding.

How many shares does Advantage Solutions Inc. have outstanding?

Advantage Solutions Inc. (ADV) had 321M shares outstanding as of fiscal year 2024.

What is Advantage Solutions Inc.'s current ratio?

Advantage Solutions Inc. (ADV) had a current ratio of 1.98 as of fiscal year 2024, which is generally considered healthy.

What is Advantage Solutions Inc.'s debt-to-equity ratio?

Advantage Solutions Inc. (ADV) had a debt-to-equity ratio of 2.25 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Advantage Solutions Inc.'s return on assets (ROA)?

Advantage Solutions Inc. (ADV) had a return on assets of -10.5% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.

What is Advantage Solutions Inc.'s Piotroski F-Score?

Advantage Solutions Inc. (ADV) has a Piotroski F-Score of 4 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals.

Are Advantage Solutions Inc.'s earnings high quality?

Advantage Solutions Inc. (ADV) has an earnings quality ratio of -0.28x, considered mixed quality. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation.

Can Advantage Solutions Inc. cover its interest payments?

Advantage Solutions Inc. (ADV) has an interest coverage ratio of -2.0x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline.

How financially healthy is Advantage Solutions Inc.?

Advantage Solutions Inc. (ADV) scores 25 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks.