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First Advantage Corporation FA R2K

Industrials · Specialty Business Services · United States
https://fadv.com

First Advantage Corporation provides employment background screening, digital identity, and verification solutions internationally. It offers pre-onboarding products and solutions, such as criminal background checks, drug/health screening, extended workforce screening, FBI channeling, identity checks and biometric fraud mitigation tools, education/work history verification, driver records and compliance, healthcare credentials, executive screening, and other screening products. The company also provides post-onboarding solutions, including criminal records monitoring, I-9 verification, healthcare sanctions, motor vehicle records, social media screening, and global sanctions and licenses; and adjacent products comprising fleet/vehicle compliance, hiring tax credits and incentives, and investigative research. Its products and solutions are used by executive management, human resources, talent acquisition, risk, compliance, vendor management, safety, global enterprises, mid-sized, and small companies. The company was formerly known as Fastball Intermediate, Inc. and changed its name to First Advantage Corporation in March 2021. First Advantage Corporation was founded in 2002 and is based in Atlanta, Georgia.

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$16.00
-6.54% 1Y

Market & Price

Market Cap
$2.74B
Current Price
$16.00
High / Low (52W)
$18.59 / $8.95
Beta
1.15

Valuation

Stock P/E
320.00
Industry PE
28.38
Forward P/E
11.20
PEG Ratio
-
Book Value
$7.49
Price to Book
2.14
P/S
1.71
EV/EBITDA
11.35
Dividend Yield
-

Profitability & Returns

ROCE
3.65%
ROE
0.66%
ROA
2.54%
Profit Margin
0.53%
Op Margin
8.75%
EPS (Latest Qtr)
$0.01
EPS (TTM)
$0.05

Balance Sheet & Liquidity

Debt/Equity
1.60
Quick Ratio
2.55
Current Ratio
2.65
Debt
$2.07B
Total Assets
$3.83B
Current Assets
$561.70M
Working Capital
$331.24M

Ownership

Promoter Holding
3.28%
Chg in Prom Hold
-
FII / Inst Holding
111.46%
Chg in FII Hold
-

Financial Snapshot

Enterprise Value
$4.59B
Total Revenue (TTM)
$1.61B
EBITDA
$403.88M
Free Cash Flow
$193.20M
Operating Cash Flow
$225.09M
Shares Outstanding
171.54M
Gross Margin
45.54%
Payout Ratio
0.00%

Growth (CAGR)

Revenue 5Y
24.80%
Profit 5Y
-51.30%
Revenue (YoY)
8.60%
Earnings (YoY)
-

PROS

  • Compounding revenue at 24.8% over 5 years.
  • Generates positive free cash flow.

CONS

  • Trading at a high P/E of 320.0.
  • Earnings shrank at -51.3% CAGR over 5 years.
  • In a downtrend (50-DMA below 200-DMA).

* The pros and cons are auto-generated from financial metrics.

Price Chart

Robinhood TradingView StockAnalysis

Fundamental Growth

Figures from the latest reported periods. CAGR is computed across the displayed window (quarterly CAGR is annualised assuming 4 quarters per year).

Peer comparison

Peer companies in the same sector (Industrials).

#NameCMP $P/E Mkt CapDiv Yld % ROCE %ROE % Rev CAGR 5Y %Profit CAGR 5Y %
1 FA First Advantage Corporation R2K 16.00 320.00 $2.74B - 3.65% 0.66% 24.80% -51.30%
2 CAT Caterpillar Inc. SPX 875.87 43.66 $403.42B 0.69% 19.42% 51.33% 4.38% 9.83%
3 GE GE Aerospace SPX 323.76 40.17 $338.27B 0.58% 11.89% 45.43% 16.32% 195.89%
4 GEV GE Vernova Inc. SPXAI 968.32 28.33 $260.21B 0.21% 6.30% 75.71% 8.68% 92.84%
5 RTX RTX Corporation SPX 179.66 33.64 $241.95B 1.54% 9.41% 11.57% 9.72% 9.01%
6 UNP Union Pacific Corporation SPX 262.64 21.60 $155.93B 2.10% 16.19% 40.69% -0.49% 0.66%
7 ETN Eaton Corporation plc SPXAI 400.60 39.20 $155.55B 1.10% 16.23% 20.84% 9.77% 18.41%
8 HON Honeywell International Inc. NDXSPX 237.86 38.00 $150.72B 2.00% 13.57% 24.26% 1.82% -1.62%
9 DE Deere & Company SPX 542.18 30.67 $146.45B 1.20% 12.82% 18.35% -4.50% -11.00%
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Quarterly Results

Figures in USD.

Metric Jun 2020Sep 2020Mar 2021Jun 2021Sep 2021Mar 2022Jun 2022Sep 2022Mar 2023Jun 2023Sep 2023Mar 2024Jun 2024Sep 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Revenue 104.99M136.78M132.07M174.83M192.87M189.88M201.56M205.99M175.52M185.31M200.36M169.42M184.55M199.12M354.59M390.63M409.15M420.02M385.20M
Cost of Revenue --------------192.56M207.84M222.04M232.86M211.41M
Gross Profit --------------162.02M182.79M187.11M187.16M173.79M
Operating Expenses --------------154.41M145.06M144.87M142.28M140.27M
Operating Income -6.20M5.29M-3.17M17.29M24.39M17.10M22.78M25.66M11.29M17.64M23.21M-726.00K9.90M9.11M7.62M37.74M42.24M44.87M33.52M
EBITDA --------------69.28M99.39M104.11M107.22M95.34M
Interest Expense --------------46.58M44.78M40.04M37.26M29.84M
Pretax Income ---------------38.96M-7.30M1.79M7.22M3.31M
Tax Provision --------------2.23M-7.61M-798.00K3.75M1.14M
Net Income -16.37M-3.45M-19.39M3.77M16.29M13.01M14.24M17.21M1.93M9.78M10.77M-2.91M1.86M-8.86M-41.19M308.00K2.59M3.47M2.17M
Diluted EPS -0.13-0.03-0.150.030.110.090.090.110.010.070.07-0.020.01-0.06-0.240.000.010.020.01
R&D Expense 7.21M8.34M10.55M11.68M11.31M13.77M12.95M13.25M12.62M12.64M13.11M12.47M13.68M12.91M27.16M25.68M25.14M-24.61M

Profit & Loss (Annual)

Figures in USD.

Metric Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024Dec 2025
Revenue 481.77M472.37M-810.02M763.76M860.21M1.57B
Cost of Revenue ---408.93M386.78M448.91M855.31M
Gross Profit ---401.10M376.98M411.29M719.08M
Operating Expenses ---306.82M295.47M473.68M586.62M
Operating Income 92.17M-2.04M-94.28M81.52M-62.38M132.47M
EBITDA ---232.52M210.99M83.15M380.00M
Interest Expense ---9.20M33.04M51.85M168.67M
Pretax Income ---85.08M48.48M-114.61M-37.25M
Tax Provision ---20.48M11.18M-4.34M-2.43M
Net Income 34.25M-47.49M-64.60M37.29M-110.27M-34.82M
Diluted EPS 0.21-0.37-0.430.26-0.74-0.20
R&D Expense 33.24M32.20M45.51M51.93M49.26M63.82M101.85M

Compounded Sales Growth

5 Years:24.80%
1 Year:8.60%

Compounded Profit Growth

5 Years:-51.30%
1 Year:-

Stock Price Performance

1 Year:-6.54%
6 Months:+14.12%
3 Months:+39.01%
1 Month:+22.61%

Balance Sheet (Annual)

Figures in USD.

Metric Jan 2020Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024Dec 2025
Total Assets -1.76B-1.89B1.63B3.92B3.83B
Current Assets ---566.20M373.74M475.99M561.70M
Cash & Equivalents -152.82M-391.65M213.77M168.69M240.00M
Inventory -------
Receivables ---143.81M142.69M266.80M297.28M
Total Liabilities -969.42M-759.21M723.92M2.62B2.52B
Current Liabilities -97.84M-100.79M85.04M250.69M230.46M
Long Term Debt -778.61M-556.65M558.46M2.12B2.08B
Total Debt ---569.49M567.74M2.16B2.09B
Total Equity 779.73M794.27M-1.13B906.73M1.31B1.31B
Shares Outstanding ---148.73M145.07M173.17M174.19M

Cash Flows (Annual)

Figures in USD.

Metric Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024Dec 2025
Operating Cash Flow 71.58M72.85M-212.77M162.82M28.20M195.13M
Investing Cash Flow -17.79M-15.57M--48.60M-66.85M-1.65B-54.13M
Financing Cash Flow -3.18M46.40M--59.15M-273.56M1.58B-70.76M
Capital Expenditure -6.58M-5.30M--28.53M-27.70M-32.27M-54.25M
Free Cash Flow 65.00M67.55M-184.24M135.12M-4.07M140.87M
Net Change in Cash ---105.02M-177.58M-42.73M70.24M
Share Buybacks ---60.53M59.48M--

Ratios (Annual)

Figures in %.

Metric Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024Dec 2025
Gross Margin % ---49.5%49.4%47.8%45.7%
Operating Margin % 19.1%-0.4%-11.6%10.7%-7.3%8.4%
Net Margin % 7.1%-10.1%-8.0%4.9%-12.8%-2.2%
ROE % --6.0%-5.7%4.1%-8.4%-2.7%
ROCE % --0.1%-5.3%5.3%-1.7%3.7%

Shareholding Pattern

Insiders
3.28%
Institutions
111.46%
Public Float
115.23%

Top Institutional Holders

#Holder% HeldSharesValue
1 Silver Lake Group, LLC 52.21% 89.56M $1.43B
2 Price (T.Rowe) Associates Inc 8.81% 15.11M $241.79M
3 Capital World Investors 6.06% 10.40M $166.38M
4 FMR, LLC 5.29% 9.08M $145.24M
5 Alliancebernstein L.P. 4.61% 7.91M $126.53M
6 Blackrock Inc. 3.49% 5.99M $95.84M
7 Cat Rock Capital Management LP 2.46% 4.23M $67.65M
8 BAMCO Inc. 2.19% 3.75M $60.00M
9 Vanguard Portfolio Management LLC 2.05% 3.52M $56.40M
10 Vanguard Capital Management LLC 2.01% 3.45M $55.15M

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