First Advantage Corporation (FA) Financials
A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 6, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 10-Q for Q2 FY2026, filed Aug 6, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the FA SEC filings page.
First Advantage Corporation (FA) reported $1.7B in revenue over the twelve months to Jun 30, 2026, up 32.9% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 7 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).
The 2025 operating rebound restored profitability before interest, but the larger debt load still kept net income negative.
Revenue rose from$860M in FY2024 to$1.6B in FY2025, but the more revealing change is that the larger base supported a return to operating profit. The reported interest expense exceeded operating income, so the operating rebound did not translate into positive net income.
Nearly all 2025 operating cash flow became free cash flow:
Debt-to-equity was 1.6x in FY2025 versus 0.6x in FY2023, so leverage remains materially higher than before the FY2024 balance-sheet expansion. The current ratio improved to 2.4x even as goodwill remained more than half of total assets, leaving better short-term coverage alongside a more acquisition-weighted asset base.
Financial Health Signals
Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of First Advantage Corporation's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
First Advantage Corporation has an operating margin of 8.4%, meaning the company retains $8 of operating profit per $100 of revenue. This results in a moderate score of 44/100, indicating healthy but not exceptional operating efficiency. This is up from -7.2% the prior year.
First Advantage Corporation's revenue surged 83.0% year-over-year to $1.6B, reflecting rapid business expansion. This strong growth earns a score of 93/100.
First Advantage Corporation has elevated debt relative to equity (D/E of 1.58), meaning the company relies heavily on borrowed funds. This high leverage results in a low score of 7/100, reflecting increased financial risk.
With a current ratio of 2.44, First Advantage Corporation holds $2.44 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 70/100.
First Advantage Corporation converts 12.0% of revenue into free cash flow ($188.5M). This strong cash generation earns a score of 69/100.
First Advantage Corporation posts a -2.6% return on equity (ROE), meaning it loses $3 for every $100 of shareholders' equity. This results in a returns score of 39/100. This is up from -8.4% the prior year.
First Advantage Corporation scores 1.31, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($3.2B) relative to total liabilities ($2.5B). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
First Advantage Corporation passes 5 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 3 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, both operating efficiency signals pass.
First Advantage Corporation reported a net loss of $34.8M while generating $195.1M in operating cash flow. Operations generated cash despite the loss, but with no positive earnings behind it, the ratio between the two carries no quality signal.
First Advantage Corporation earns $0.79 in operating income for every $1 of interest expense ($132.5M vs $168.7M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.
Key Financial Metrics
Earnings & Revenue
First Advantage Corporation generated $448.8M in revenue in Q2 2026. This represents an increase of 14.9% from the same quarter a year earlier. Against the prior quarter it is up 16.5%.
First Advantage Corporation's EBITDA was $84.5M in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 29.2% from the same quarter a year earlier. Against the prior quarter it is up 37.8%.
First Advantage Corporation reported $16.9M in net income in Q2 2026. This represents an increase of 5391.6% from the same quarter a year earlier. Against the prior quarter it is up 680.2%.
First Advantage Corporation earned $0.10 per diluted share (EPS) in Q2 2026. Against the prior quarter it is up 900.0%.
Cash & Balance Sheet
First Advantage Corporation generated $68.9M in free cash flow in Q2 2026, representing cash available after capex. This represents an increase of 90.9% from the same quarter a year earlier. Against the prior quarter it is up 47.9%.
First Advantage Corporation held $237.9M in cash against $2.0B in long-term debt as of Q2 2026.
Not reported for Q2 2026.
Margins & Returns
First Advantage Corporation's operating margin was 12.7% in Q2 2026, reflecting core business profitability. This is up 3.0 percentage points from the same quarter a year earlier. Against the prior quarter it is up 4.0 percentage points.
First Advantage Corporation's net profit margin was 3.8% in Q2 2026, showing the share of revenue converted to profit. This is up 3.7 percentage points from the same quarter a year earlier. Against the prior quarter it is up 3.2 percentage points.
First Advantage Corporation's ROE was 1.3% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is up 1.3 percentage points from the same quarter a year earlier. Against the prior quarter it is up 1.1 percentage points.
Not reported for Q2 2026.
Capital Allocation
First Advantage Corporation invested $27.3M in research and development in Q2 2026. This represents an increase of 6.2% from the same quarter a year earlier. Against the prior quarter it is up 10.8%.
First Advantage Corporation spent $18.9M on share buybacks in Q2 2026, returning capital to shareholders by reducing shares outstanding. Against the prior quarter it is down 4.1%.
First Advantage Corporation invested $4.7M in capex in Q2 2026, funding long-term assets and infrastructure. This represents an increase of 277.3% from the same quarter a year earlier. Against the prior quarter it is up 65.4%.
FA Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Revenue | $448.8M+14.9% | $385.2M+8.6% | $420.0M+36.8% | $409.2M+105.5% | $390.6M+111.7% | $354.6M+109.3% | $307.1M+51.6% | $199.1M-0.6% |
| R&D Expenses | $27.3M+6.2% | $24.6M-9.4% | $23.9M-3.5% | $25.1M+94.7% | $25.7M+87.7% | $27.2M+117.8% | $24.8M+127.4% | $12.9M-1.5% |
| SG&A Expenses | $57.8M+0.6% | $53.5M-18.5% | $55.7M-59.8% | $57.5M+24.8% | $57.5M+48.7% | $65.6M+61.3% | $138.6M+397.6% | $46.0M+52.4% |
| Operating Income | $57.0M+51.1% | $33.5M+340.1% | $44.9M+155.6% | $42.2M+363.5% | $37.7M+281.1% | $7.6M+1149.2% | -$80.7M-374.6% | $9.1M-60.7% |
| EBITDA | $84.5M+29.2% | $61.3M+74.1% | $73.4M+245.1% | $70.2M+180.8% | $65.4M+155.6% | $35.2M+138.4% | -$50.6M-207.9% | $25.0M-37.6% |
| Interest Expense | -$31.6M+29.4% | -$29.8M+35.9% | -$37.3M-57.0% | -$40.0M-132.9% | -$44.8M-509.1% | -$46.6M-1204.8% | -$23.7M-83.8% | -$17.2M-127.5% |
| Income Tax | $8.1M+207.0% | $1.1M-49.0% | $3.8M+184.7% | -$798K-202.0% | -$7.6M-1204.5% | $2.2M+260.7% | -$4.4M-367.7% | $782K-84.0% |
| Net Income | $16.9M+5391.6% | $2.2M+105.3% | $3.5M+103.5% | $2.6M+129.3% | $308K-83.4% | -$41.2M-1316.6% | -$100.4M-777.6% | -$8.9M-182.2% |
| EPS (Basic) | $0.10 | $0.01+104.2% | $0.02+103.0% | $0.01+116.7% | $0.00-100.0% | -$0.24-1100.0% | -$0.67-770.0% | -$0.06-175.0% |
| EPS (Diluted) | $0.10 | $0.01+104.2% | $0.02+103.0% | $0.01 | $0.00-100.0% | -$0.24-1100.0% | -$0.67-709.1% | -$0.06-185.7% |
| Diluted Shares (Avg) | 173M-1.1% | 175M+1.3% | N/A | 176M | 175M+20.0% | 173M+20.3% | N/A | 144M-0.4% |
Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit.
FA Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $3.7B-3.2% | $3.8B-3.0% | $3.8B-2.3% | $3.9B+132.7% | $3.9B+136.6% | $3.9B+137.2% | $3.9B+140.6% | $1.7B+1.7% |
| Current Assets | $581.0M+15.6% | $539.3M+14.3% | $561.7M+18.0% | $542.4M+16.2% | $502.8M+17.7% | $471.8M+18.1% | $476.0M+27.4% | $467.0M+33.7% |
| Cash & Equivalents | $237.9M+29.1% | $225.9M+31.3% | $240.0M+42.3% | $216.8M-29.5% | $184.3M-31.6% | $172.0M-29.9% | $168.7M-21.1% | $307.4M+86.4% |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 | $0-100.0% | $0 | $0-100.0% |
| Accounts Receivable | $309.3M+9.3% | $287.7M+8.1% | $297.3M+11.4% | $291.0M+103.5% | $283.1M+116.5% | $266.1M+106.2% | $266.8M+87.0% | $143.0M-8.9% |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Goodwill | $2.1B-0.4% | $2.1B+0.5% | $2.1B+0.9% | $2.1B+160.3% | $2.1B+161.7% | $2.1B+159.6% | $2.1B+158.9% | $822.3M+0.2% |
| Total Liabilities | $2.5B-4.6% | $2.5B-5.1% | $2.5B-3.7% | $2.6B+246.9% | $2.6B+255.9% | $2.6B+258.1% | $2.6B+261.3% | $736.4M-0.7% |
| Current Liabilities | $229.9M-9.3% | $203.5M-15.6% | $230.5M-8.1% | $239.8M+97.6% | $253.4M+155.7% | $241.0M+158.6% | $250.7M+194.8% | $121.4M+28.0% |
| Non-Current Liabilities | $2.2B-4.1% | $2.3B-4.0% | $2.3B-3.2% | $2.3B+276.4% | $2.3B+271.9% | $2.4B+272.7% | $2.4B+270.2% | $615.1M-4.9% |
| Long-Term Debt | $2.0B-3.4% | $2.1B-2.9% | $2.1B-1.9% | $2.1B+275.7% | $2.1B+276.2% | $2.1B+278.9% | $2.1B+279.8% | $559.8M+0.3% |
| Total Equity | $1.3B-0.4% | $1.3B+1.2% | $1.3B+0.5% | $1.3B+41.4% | $1.3B+42.2% | $1.3B+40.9% | $1.3B+44.1% | $920.7M+3.7% |
| Retained Earnings | -$214.1M-6.7% | -$212.1M-5.5% | -$194.6M-21.8% | -$198.1M-233.3% | -$200.7M-296.7% | -$201.0M-283.2% | -$159.8M-222.6% | -$59.4M+3.1% |
Not reported in any period shown, so not listed: Inventory.
FA Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $73.6M+97.1% | $49.4M+153.9% | $65.9M+177.0% | $72.4M+66.4% | $37.3M+16.5% | $19.5M-49.2% | -$85.7M-251.0% | $43.5M+26.6% |
| Depreciation & Amortization | $27.5M-0.7% | $27.8M+0.7% | $28.5M-5.3% | $28.0M+76.1% | $27.7M+76.4% | $27.6M+78.1% | $30.1M+73.0% | $15.9M-5.9% |
| Stock-Based Compensation | $5.2M-8.7% | $4.4M-44.4% | N/A | $5.7M-39.8% | $5.7M+13.7% | $8.0M+67.7% | N/A | $9.5M+98.4% |
| Capital Expenditures | $4.7M+277.3% | $2.8M+479.8% | $3.8M+1033.5% | $1.1M+171.4% | $1.2M+90.0% | $485K+51.1% | $334K+16.4% | $416K-62.5% |
| Free Cash Flow | $68.9M+90.9% | $46.6M+145.5% | $62.2M+172.3% | $71.2M+65.4% | $36.1M+15.0% | $19.0M-50.0% | -$86.0M-252.3% | $43.1M+29.6% |
| Investing Cash Flow | -$19.5M-53.0% | -$14.0M-26.5% | -$16.8M+99.0% | -$13.5M-70.5% | -$12.7M-87.9% | -$11.1M-57.5% | -$1.6B-33069.3% | -$7.9M+83.7% |
| Financing Cash Flow | -$41.0M-171.1% | -$44.3M-638.5% | -$25.7M-101.6% | -$23.9M-2639.3% | -$15.1M-3075.2% | -$6.0M-969.8% | $1.6B+52922.1% | $942K+100.4% |
| Share Buybacks | $18.9M | $19.7M | N/A | N/A | $0 | $0 | $0-100.0% | $0-100.0% |
Not reported in any period shown, so not listed: Dividends Paid.
FA Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Margin | 12.7%+3.0pp | 8.7%+6.6pp | 10.7%+37.0pp | 10.3%+5.7pp | 9.7%+4.3pp | 2.1%+2.6pp | -26.3%-40.8pp | 4.6%-7.0pp |
| Net Margin | 3.8%+3.7pp | 0.6%+12.2pp | 0.8%+33.5pp | 0.6%+5.1pp | 0.1%-0.9pp | -11.6%-9.9pp | -32.7%-40.0pp | -4.5%-9.8pp |
| Return on Equity | 1.3%+1.3pp | 0.2%+3.4pp | 0.3%+7.9pp | 0.2%+1.2pp | 0.0%-0.2pp | -3.2%-2.9pp | -7.7%-9.3pp | -1.0%-2.2pp |
| Return on Assets | 0.4%+0.4pp | 0.1%+1.1pp | 0.1%+2.7pp | 0.1%+0.6pp | 0.0%-0.1pp | -1.1%-0.9pp | -2.6%-3.5pp | -0.5%-1.2pp |
| Current Ratio | 2.53+0.5x | 2.65+0.7x | 2.44+0.5x | 2.26-1.6x | 1.98-2.3x | 1.96-2.3x | 1.90-2.5x | 3.85+0.2x |
| Debt-to-Equity | 1.570.0x | 1.59-0.1x | 1.580.0x | 1.62+1.0x | 1.62+1.0x | 1.66+1.0x | 1.62+1.0x | 0.610.0x |
| Asset Turnover | 0.120.0x | 0.100.0x | 0.110.0x | 0.110.0x | 0.100.0x | 0.090.0x | 0.080.0x | 0.120.0x |
| FCF Margin | 15.4%+6.1pp | 12.1%+6.8pp | 14.8%+42.8pp | 17.4%-4.2pp | 9.2%-7.8pp | 5.3%-17.1pp | -28.0%-55.9pp | 21.6%+5.0pp |
Not reported in any period shown, so not listed: Gross Margin.
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| First Advantage Corporation FA | FY2025 | $1.6B | -$34.8M | -2.2% | $3.2B | 54/100 |
| CBIZ, Inc. CBZ | FY2025 | $2.8B | $115.4M | 4.2% | $3.0B | 50/100 |
| ABM Industries, Inc. ABM | FY2025 | $8.7B | $162.4M | 1.9% | $2.8B | 42/100 |
| Unifirst Corp UNF | FY2025 | $2.4B | $148.3M | 6.1% | $4.6B | 63/100 |
| TIC Solutions, Inc TIC | FY2025 | $1.5B | -$87.1M | -5.7% | $1.8B | 48/100 |
| AZZ Inc. AZZ | FY2026 | $1.7B | $317.3M | 19.2% | $4.2B | 63/100 |
Where First Advantage Corporation Ranks
Frequently Asked Questions
What is First Advantage Corporation's annual revenue?
First Advantage Corporation (FA) reported $1.6B in total revenue for fiscal year 2025. This represents a 83.0% 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 First Advantage Corporation's revenue growing?
First Advantage Corporation (FA) revenue grew by 83.0% year-over-year, from $860.2M to $1.6B in fiscal year 2025.
Is First Advantage Corporation profitable?
No, First Advantage Corporation (FA) reported a net income of -$34.8M in fiscal year 2025, with a net profit margin of -2.2%.
What is First Advantage Corporation's EBITDA?
First Advantage Corporation (FA) had EBITDA of $244.3M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does First Advantage Corporation have?
As of fiscal year 2025, First Advantage Corporation (FA) had $240.0M in cash and equivalents against $2.1B in long-term debt.
What is First Advantage Corporation's operating margin?
First Advantage Corporation (FA) had an operating margin of 8.4% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is First Advantage Corporation's net profit margin?
First Advantage Corporation (FA) had a net profit margin of -2.2% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is First Advantage Corporation's return on equity (ROE)?
First Advantage Corporation (FA) has a return on equity of -2.6% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is First Advantage Corporation's free cash flow?
First Advantage Corporation (FA) generated $188.5M in free cash flow during fiscal year 2025. This represents a 611.9% 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 First Advantage Corporation's operating cash flow?
First Advantage Corporation (FA) generated $195.1M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are First Advantage Corporation's total assets?
First Advantage Corporation (FA) had $3.8B in total assets as of fiscal year 2025, including both current and long-term assets.
What are First Advantage Corporation's capital expenditures?
First Advantage Corporation (FA) invested $6.6M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does First Advantage Corporation spend on research and development?
First Advantage Corporation (FA) invested $101.9M in research and development during fiscal year 2025.
What is First Advantage Corporation's current ratio?
First Advantage Corporation (FA) had a current ratio of 2.44 as of fiscal year 2025, which is generally considered healthy.
What is First Advantage Corporation's debt-to-equity ratio?
First Advantage Corporation (FA) had a debt-to-equity ratio of 1.58 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is First Advantage Corporation's return on assets (ROA)?
First Advantage Corporation (FA) had a return on assets of -0.9% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is First Advantage Corporation's P/E ratio?
First Advantage Corporation (FA) trades at 126x earnings, its market capitalization divided by net income of $25.1M net income, trailing 12 months to June 30, 2026. The market capitalization is $3.2B as of Oct 6, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is First Advantage Corporation's price-to-sales ratio?
First Advantage Corporation (FA) trades at 1.9x sales, its market capitalization divided by revenue of $1.7B revenue, trailing 12 months to June 30, 2026. The market capitalization is $3.2B as of Oct 6, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is First Advantage Corporation's Altman Z-Score?
First Advantage Corporation (FA) has an Altman Z-Score of 1.31, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is First Advantage Corporation's Piotroski F-Score?
First Advantage Corporation (FA) has a Piotroski F-Score of 5 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. 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 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are First Advantage Corporation's earnings high quality?
First Advantage Corporation (FA) reported a net loss of $34.8M while generating $195.1M in operating cash flow. Operations generated cash despite the loss, but with no positive earnings behind it, the ratio between the two carries no quality signal. 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. Learn more in our complete guide to financial health indicators.
Can First Advantage Corporation cover its interest payments?
First Advantage Corporation (FA) has an interest coverage ratio of 0.79x, 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. Learn more in our complete guide to financial health indicators.
How financially healthy is First Advantage Corporation?
First Advantage Corporation (FA) scores 54 out of 100 on our Financial Health Score, indicating moderate standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.