First Advantage Corporation (FA) 10-Year Financial Performance & Capital Metrics

FA • • Industrial / General

IndustrialsBusiness ServicesSpecialized Business Process OutsourcingHR & Background Screening Services

AboutFirst Advantage Corporation provides technology solutions for screening, verifications, safety, and compliance related to human capital worldwide. 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, healthcare sanctions, motor vehicle records, social media screening, and global sanctions and licenses; and fleet/vehicle compliance, hiring tax credits and incentives, resident/tenant screening, and investigative research. Its products and solutions are used by personnel in recruiting, human resources, risk, compliance, vendor management, safety, and/or security in 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 2003 and is headquartered in Atlanta, Georgia.Show more

Revenue $860M +12.6%
EBITDA $84M -60.4%
Net Income -$110M -395.7%
EPS (Diluted) -0.74 -384.6%
Gross Margin 47.81% -3.1%
EBITDA Margin 9.71% -64.8%
Operating Margin -7.25% -167.9%
Net Margin -12.82% -362.5%
ROE -9.96% -371.6%
ROIC -2.05% -143.1%
Debt/Equity 1.65 +163.5%
Interest Coverage -1.20 -148.8%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Strong 5Y sales CAGR of 12.3%

✗Weaknesses

✗Weak Piotroski F-Score: 2/9
✗Low asset turnover indicates capital-intensive operations

Price & Volume

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Growth Metrics

Revenue CAGR

10Y12.43%

5Y12.29%

3Y6.49%

TTM93.41%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM-2926.31%

EPS CAGR

10Y-

5Y-

3Y-

TTM-2836.13%

ROCE

10Y Avg7.65%

5Y Avg2.26%

3Y Avg2.6%

Latest-2.39%

Peer Comparison

HR & Background Screening Services

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
FAFirst Advantage Corporation	2.6B	14.95	-20.20	12.63%	-9.49%	-10.65%	1.02%	1.65

Profit & Loss

	Dec 2005	Dec 2006	Dec 2007	Dec 2008	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	643.75M	817.56M	842.9M	779.96M	481.77M	509.15M	712.29M	810.02M	763.76M	860.21M
Revenue Growth %	1.42%	0.27%	0.03%	-0.07%	-0.38%	0.06%	0.4%	0.14%	-0.06%	0.13%
Cost of Goods Sold+	231.62M	291.35M	281.75M	282.67M	245.32M	260.55M	352.17M	408.93M	386.78M	448.91M
COGS % of Revenue	0.36%	0.36%	0.33%	0.36%	0.51%	0.51%	0.49%	0.5%	0.51%	0.52%
Gross Profit+	412.13M	526.22M	561.15M	497.3M	236.44M	248.6M	360.13M	401.1M	376.98M	411.29M
Gross Margin %	0.64%	0.64%	0.67%	0.64%	0.49%	0.49%	0.51%	0.5%	0.49%	0.48%
Gross Profit Growth %	1.56%	0.28%	0.07%	-0.11%	-0.52%	0.05%	0.45%	0.11%	-0.06%	0.09%
Operating Expenses+	314.13M	405.85M	443.58M	425.48M	144.28M	250.65M	296.3M	306.82M	295.47M	473.68M
OpEx % of Revenue	0.49%	0.5%	0.53%	0.55%	0.3%	0.49%	0.42%	0.38%	0.39%	0.55%
Selling, General & Admin	286.52M	366.7M	401.46M	274.43M	85.08M	78.1M	107.98M	116.64M	116.73M	263.94M
SG&A % of Revenue	0.45%	0.45%	0.48%	0.35%	0.18%	0.15%	0.15%	0.14%	0.15%	0.31%
Research & Development	0	0	0	0	33.24M	35.39M	45.51M	51.93M	49.26M	63.82M
R&D % of Revenue	-	-	-	-	0.07%	0.07%	0.06%	0.06%	0.06%	0.07%
Other Operating Expenses	27.61M	39.15M	42.12M	151.05M	25.95M	137.16M	142.81M	138.25M	129.47M	145.92M
Operating Income+	98M	120.36M	117.57M	121.13M	92.17M	-2.05M	63.82M	94.28M	81.52M	-62.38M
Operating Margin %	0.15%	0.15%	0.14%	0.16%	0.19%	-0%	0.09%	0.12%	0.11%	-0.07%
Operating Income Growth %	-1%	0.23%	-0.02%	0.03%	-0.24%	-1.02%	32.15%	0.48%	-0.14%	-1.77%
EBITDA+	125.61M	159.52M	157.29M	163.72M	118.12M	135.11M	206.64M	232.52M	210.99M	83.53M
EBITDA Margin %	0.2%	0.2%	0.19%	0.21%	0.25%	0.27%	0.29%	0.29%	0.28%	0.1%
EBITDA Growth %	-0.99%	0.27%	-0.01%	0.04%	-0.28%	0.14%	0.53%	0.13%	-0.09%	-0.6%
D&A (Non-Cash Add-back)	27.61M	39.15M	39.72M	42.59M	25.95M	137.16M	142.81M	138.25M	129.47M	145.92M
EBIT	96.75M	119.42M	223.47M	72.72M	93.11M	-2.05M	52.32M	94.28M	81.52M	-62.77M
Net Interest Income+	0	0	-8.62M	-1.65M	-51.02M	-47.49M	-24.97M	-9.2M	-33.04M	-51.85M
Interest Income	0	0	2.02M	897K	945K	555K	150K	0	0	0
Interest Expense	0	6.43M	10.64M	2.55M	51.96M	48.05M	25.12M	9.2M	33.04M	51.85M
Other Income/Expense	3.94M	-6.43M	104.61M	102.51M	-51.02M	-69.75M	-38.91M	-9.2M	-33.04M	-52.23M
Pretax Income+	102.39M	113.93M	222.19M	223.64M	41.15M	-71.8M	24.91M	85.08M	48.48M	-114.61M
Pretax Margin %	0.16%	0.14%	0.26%	0.29%	0.09%	-0.14%	0.03%	0.11%	0.06%	-0.13%
Income Tax+	43.01M	47.38M	84.08M	85.53M	6.9M	12.23M	8.86M	20.48M	11.18M	-4.34M
Effective Tax Rate %	0.57%	0.58%	0.62%	0.16%	0.83%	1.17%	0.64%	0.76%	0.77%	0.96%
Net Income+	58.43M	66.16M	138.11M	34.86M	34.25M	-84.02M	16.05M	64.6M	37.29M	-110.27M
Net Margin %	0.09%	0.08%	0.16%	0.04%	0.07%	-0.17%	0.02%	0.08%	0.05%	-0.13%
Net Income Growth %	4.47%	0.13%	1.09%	-0.75%	-0.02%	-3.45%	1.19%	3.02%	-0.42%	-3.96%
Net Income (Continuing)	57.69M	65.6M	126.12M	39.1M	34.25M	-84.02M	16.05M	64.6M	37.29M	-110.27M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	47.71M	48.41M	48.42M	44.2M	0	0	0	0	0	0
EPS (Diluted)+	1.09	1.14	2.34	0.59	0.22	-0.55	0.11	0.43	0.26	-0.74
EPS Growth %	0.28%	0.05%	1.05%	-0.75%	-0.63%	-3.5%	1.2%	2.91%	-0.4%	-3.85%
EPS (Basic)	1.10	1.15	2.35	0.59	0.22	-0.55	0.11	0.43	0.26	-0.74
Diluted Shares Outstanding	53.59M	58.08M	59.12M	59.5M	152.86M	152.86M	152.9M	151.81M	146.23M	148.58M
Basic Shares Outstanding	52.88M	57.5M	58.87M	59.39M	152.86M	152.86M	152.9M	150.23M	144.08M	148.58M
Dividend Payout Ratio	-	-	0.03%	-	-	-	0.02%	-	5.84%	-

Balance Sheet

	Dec 2005	Dec 2006	Dec 2007	Dec 2008	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	145.18M	198.89M	265.35M	205.64M	185.9M	277.78M	466.16M	566.2M	373.74M	475.99M
Cash & Short-Term Investments	28.38M	31.94M	76.6M	52.36M	81.95M	154.24M	293.58M	393.61M	213.77M	168.69M
Cash Only	28.38M	31.94M	76.6M	52.36M	80.62M	152.97M	292.64M	391.65M	213.77M	168.69M
Short-Term Investments	0	0	0	0	1.33M	1.27M	941K	1.96M	0	0
Accounts Receivable	107.81M	143.64M	148.88M	121.53M	98.29M	117.04M	158.06M	147.04M	146.4M	275.47M
Days Sales Outstanding	61.12	64.13	64.47	56.87	74.47	83.9	81	66.26	69.96	116.89
Inventory	0	0	0	0	126K	0	0	0	0	0
Days Inventory Outstanding	-	-	-	-	0.19	-	-	-	-	-
Other Current Assets	10.78M	18.79M	38.08M	22.72M	-2.1M	6.5M	148K	25.55M	10.7M	22.24M
Total Non-Current Assets+	832.86M	891.03M	966.58M	930.12M	358.83M	1.49B	1.42B	1.32B	1.26B	3.45B
Property, Plant & Equipment	56.68M	68.93M	80.95M	81.81M	29.09M	190.28M	154.31M	113.53M	79.44M	307.54M
Fixed Asset Turnover	11.36x	11.86x	10.41x	9.53x	16.56x	2.68x	4.62x	7.13x	9.61x	2.80x
Goodwill	605.88M	650.12M	695.74M	731.37M	261.59M	770.09M	793.89M	793.08M	820.65M	2.12B
Intangible Assets	121.4M	113.38M	100.16M	82.89M	65.79M	523.36M	464.35M	397.18M	344.01M	987.95M
Long-Term Investments	-27.21M	-12.05M	85.48M	30.36M	0	0	0	0	0	0
Other Non-Current Assets	59.02M	58.59M	-21.77M	-19.04M	1.37M	1.37M	6.46M	13.42M	10.02M	21.2M
Total Assets+	978.04M	1.09B	1.23B	1.14B	544.73M	1.76B	1.89B	1.89B	1.63B	3.92B
Asset Turnover	0.66x	0.75x	0.68x	0.69x	0.88x	0.29x	0.38x	0.43x	0.47x	0.22x
Asset Growth %	1.27%	0.11%	0.13%	-0.08%	-0.52%	2.24%	0.07%	-0%	-0.14%	1.41%
Total Current Liabilities+	131.8M	136.93M	189.73M	102.8M	78.43M	97.84M	109.31M	100.79M	85.04M	250.69M
Accounts Payable	37.15M	43.29M	51.75M	39.12M	36.34M	44.12M	53.98M	54.95M	47.02M	120.87M
Days Payables Outstanding	58.55	54.24	67.04	50.51	54.07	61.8	55.94	49.04	44.38	98.28
Short-Term Debt	38.44M	20.79M	18.28M	9.89M	0	8.38M	0	0	0	21.85M
Deferred Revenue (Current)	1000K	1000K	1000K	1000K	691K	431K	873K	1000K	1000K	1000K
Other Current Liabilities	0	8.45M	4.99M	0	22.76M	23.52M	30.05M	22.7M	16.38M	52.8M
Current Ratio	1.10x	1.45x	1.40x	2.00x	2.37x	2.84x	4.26x	5.62x	4.39x	1.90x
Quick Ratio	1.10x	1.45x	1.40x	2.00x	2.37x	2.84x	4.26x	5.62x	4.39x	1.90x
Cash Conversion Cycle	-	-	-	-	20.58	-	-	-	-	-
Total Non-Current Liabilities+	215.68M	229.67M	110.68M	95.91M	560.52M	871.58M	645.04M	658.42M	638.88M	2.37B
Long-Term Debt	182.13M	179.53M	14.4M	22.94M	540.84M	778.61M	554.85M	556.65M	558.46M	2.12B
Capital Lease Obligations	0	0	0	0	0	988K	0	7.88M	5.93M	9.15M
Deferred Tax Liabilities	27.21M	44.8M	90.78M	67.68M	12.82M	86.77M	84.65M	90.56M	71.27M	222.74M
Other Non-Current Liabilities	6.34M	5.34M	5.49M	5.3M	6.86M	5.22M	5.54M	3.34M	3.22M	11.99M
Total Liabilities	347.49M	366.57M	299.92M	198.72M	638.95M	969.42M	754.34M	759.21M	723.92M	2.62B
Total Debt+	220.57M	200.32M	32.69M	32.83M	540.84M	787.97M	554.85M	569.49M	567.74M	2.16B
Net Debt	192.19M	168.38M	-43.91M	-19.53M	460.22M	635M	262.2M	177.83M	353.97M	1.99B
Debt / Equity	0.35x	0.28x	0.04x	0.04x	-	0.99x	0.49x	0.51x	0.63x	1.65x
Debt / EBITDA	1.76x	1.26x	0.21x	0.20x	4.58x	5.83x	2.69x	2.45x	2.69x	25.82x
Net Debt / EBITDA	1.53x	1.06x	-0.28x	-0.12x	3.90x	4.70x	1.27x	0.76x	1.68x	23.80x
Interest Coverage	-	18.72x	11.05x	47.54x	1.77x	-0.04x	2.54x	10.25x	2.47x	-1.20x
Total Equity+	630.56M	723.35M	932.01M	937.05M	-94.22M	794.27M	1.13B	1.13B	906.73M	1.31B
Equity Growth %	1.17%	0.15%	0.29%	0.01%	-1.1%	9.43%	0.43%	-0%	-0.2%	0.44%
Book Value per Share	11.77	12.45	15.76	15.75	-0.62	5.20	7.41	7.42	6.20	8.80
Total Shareholders' Equity	582.85M	674.94M	883.59M	892.85M	-94.22M	794.27M	1.13B	1.13B	906.73M	1.31B
Common Stock	56K	58K	59K	60K	119.87M	0	153K	149K	145K	173K
Retained Earnings	152.41M	218.57M	355.75M	390.6M	-201.23M	-47.49M	-31.44M	-27.36M	-49.55M	-159.81M
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	361K	660K	39.1M	-412K	-12.85M	2.48M	-1.64M	-22.33M	-21.16M	-37.33M
Minority Interest	47.71M	48.41M	48.42M	44.2M	0	0	0	0	0	0

Cash Flow

	Dec 2005	Dec 2006	Dec 2007	Dec 2008	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	72.31M	93.3M	134.6M	66.3M	71.58M	52.24M	148.68M	212.77M	162.82M	28.2M
Operating CF Margin %	0.11%	0.11%	0.16%	0.08%	0.15%	0.1%	0.21%	0.26%	0.21%	0.03%
Operating CF Growth %	2.02%	0.29%	0.44%	-0.51%	0.08%	-0.27%	1.85%	0.43%	-0.23%	-0.83%
Net Income	58.43M	66.16M	138.11M	39.1M	34.25M	-84.02M	16.05M	64.6M	37.29M	-110.27M
Depreciation & Amortization	27.61M	39.15M	42.12M	42.59M	25.95M	137.16M	142.81M	138.25M	129.47M	145.92M
Stock-Based Compensation	0	0	0	9.12M	1.22M	5.85M	9.53M	7.86M	15.27M	31.76M
Deferred Taxes	-1.84M	6.19M	-5M	2.63M	2.08M	0	-2.92M	4.6M	-19.5M	-31.42M
Other Non-Cash Items	-10.41M	16.51M	-97.83M	25.32M	3.13M	-815K	17.07M	-9.06M	3.48M	-7.63M
Working Capital Changes	-1.48M	-28.73M	57.2M	-52.46M	4.95M	-5.94M	-33.87M	6.53M	-3.2M	-168K
Change in Receivables	0	0	0	18.93M	-10.96M	-19.16M	-40.84M	9.15M	2.34M	20.77M
Change in Inventory	0	0	0	0	11.16M	0	-10.59M	0	0	0
Change in Payables	0	0	0	-6.43M	12.76M	7.66M	7.52M	2.98M	-8.5M	-25.45M
Cash from Investing+	-154.08M	-64.13M	78.26M	-92.6M	-17.79M	-17.61M	-72.43M	-48.6M	-66.85M	-1.65B
Capital Expenditures	-19.1M	-33.23M	-40.35M	-35.28M	-16.7M	-17.71M	-23.8M	-28.53M	-2.08M	-1.72M
CapEx % of Revenue	0.03%	0.04%	0.05%	0.05%	0.03%	0.03%	0.03%	0.04%	0%	0%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	18.63M	0	24.32M	1.72M	-1.09M	-11.36M	305K	-1.02M	-23.64M	-30.46M
Cash from Financing+	100.16M	-25.6M	-167.88M	3.05M	-3.18M	36.68M	63.85M	-59.15M	-273.56M	1.58B
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	-3.93M	0	0	-23.82M	-313K	0	-217.74M	-255K
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	19.34M	-2.61M	4.08M	5.79M	0	0	-5.94M	-1.26M	3.28M	-53.22M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	53.2M	60.07M	94.25M	31.02M	54.88M	34.53M	124.88M	184.24M	135.12M	26.48M
FCF Margin %	0.08%	0.07%	0.11%	0.04%	0.11%	0.07%	0.18%	0.23%	0.18%	0.03%
FCF Growth %	2.09%	0.13%	0.57%	-0.67%	0.77%	-0.37%	2.62%	0.48%	-0.27%	-0.8%
FCF per Share	0.99	1.03	1.59	0.52	0.36	0.23	0.82	1.21	0.92	0.18
FCF Conversion (FCF/Net Income)	1.24x	1.41x	0.97x	1.90x	2.09x	-0.62x	9.26x	3.29x	4.37x	-0.26x
Interest Paid	0	0	11.31M	2.54M	55.78M	0	23.03M	27.04M	45.7M	65.77M
Taxes Paid	0	0	30M	84.81M	5.25M	0	10.36M	17.48M	31.62M	23.39M

Key Ratios

Metric	2005	2006	2007	2008	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	12.69%	9.77%	16.69%	3.73%	8.13%	-24%	1.67%	5.72%	3.67%	-9.96%
Return on Invested Capital (ROIC)	12.14%	10.53%	9.91%	10.06%	10.77%	-0.17%	3.39%	5.24%	4.77%	-2.05%
Gross Margin	64.02%	64.36%	66.57%	63.76%	49.08%	48.83%	50.56%	49.52%	49.36%	47.81%
Net Margin	9.08%	8.09%	16.38%	4.47%	7.11%	-16.5%	2.25%	7.98%	4.88%	-12.82%
Debt / Equity	0.35x	0.28x	0.04x	0.04x	-	0.99x	0.49x	0.51x	0.63x	1.65x
Interest Coverage	-	18.72x	11.05x	47.54x	1.77x	-0.04x	2.54x	10.25x	2.47x	-1.20x
FCF Conversion	1.24x	1.41x	0.97x	1.90x	2.09x	-0.62x	9.26x	3.29x	4.37x	-0.26x
Revenue Growth	141.52%	27%	3.1%	-7.47%	-38.23%	5.68%	39.9%	13.72%	-5.71%	12.63%

Revenue by Segment

	2021	2022	2023	2024
First Advantage Americas	-	-	-	656.89M
First Advantage Americas Growth	-	-	-	-
Sterling	-	-	-	112.9M
Sterling Growth	-	-	-	-
First Advantage International	-	-	-	90.42M
First Advantage International Growth	-	-	-	-

Revenue by Geography

	2021	2022	2023	2024
UNITED STATES	-	-	-	740.51M
UNITED STATES Growth	-	-	-	-
Non-US	-	-	-	119.7M
Non-US Growth	-	-	-	-
Americas	604.41M	694.87M	673.08M	-
Americas Growth	-	14.97%	-3.14%	-
Non Us	114.01M	-	-	-
Non Us Growth	-	-	-	-

Frequently Asked Questions

Growth & Financials

First Advantage Corporation (FA) reported $1.46B in revenue for fiscal year 2024. This represents a 778% increase from $166.5M in 2003.

First Advantage Corporation (FA) grew revenue by 12.6% over the past year. This is steady growth.

First Advantage Corporation (FA) reported a net loss of $138.7M for fiscal year 2024.

Dividend & Returns

First Advantage Corporation (FA) does not currently pay a meaningful dividend. The company may be reinvesting profits for growth.

First Advantage Corporation (FA) has a return on equity (ROE) of -10.0%. Negative ROE indicates the company is unprofitable.

First Advantage Corporation (FA) generated $28.4M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

US Stock Screener

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First Advantage Corporation (FA) 10-Year Financial Performance & Capital Metrics

FA • • Industrial / General

IndustrialsBusiness ServicesSpecialized Business Process OutsourcingHR & Background Screening Services

Revenue $860M +12.6%
EBITDA $84M -60.4%
Net Income -$110M -395.7%
EPS (Diluted) -0.74 -384.6%
Gross Margin 47.81% -3.1%
EBITDA Margin 9.71% -64.8%
Operating Margin -7.25% -167.9%
Net Margin -12.82% -362.5%
ROE -9.96% -371.6%
ROIC -2.05% -143.1%
Debt/Equity 1.65 +163.5%
Interest Coverage -1.20 -148.8%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Strong 5Y sales CAGR of 12.3%

✗Weaknesses

✗Weak Piotroski F-Score: 2/9
✗Low asset turnover indicates capital-intensive operations

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y12.43%

5Y12.29%

3Y6.49%

TTM93.41%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM-2926.31%

EPS CAGR

10Y-

5Y-

3Y-

TTM-2836.13%

ROCE

10Y Avg7.65%

5Y Avg2.26%

3Y Avg2.6%

Latest-2.39%

Peer Comparison

HR & Background Screening Services

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
FAFirst Advantage Corporation	2.6B	14.95	-20.20	12.63%	-9.49%	-10.65%	1.02%	1.65

Profit & Loss

	Dec 2005	Dec 2006	Dec 2007	Dec 2008	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	643.75M	817.56M	842.9M	779.96M	481.77M	509.15M	712.29M	810.02M	763.76M	860.21M
Revenue Growth %	1.42%	0.27%	0.03%	-0.07%	-0.38%	0.06%	0.4%	0.14%	-0.06%	0.13%
Cost of Goods Sold+	231.62M	291.35M	281.75M	282.67M	245.32M	260.55M	352.17M	408.93M	386.78M	448.91M
COGS % of Revenue	0.36%	0.36%	0.33%	0.36%	0.51%	0.51%	0.49%	0.5%	0.51%	0.52%
Gross Profit+	412.13M	526.22M	561.15M	497.3M	236.44M	248.6M	360.13M	401.1M	376.98M	411.29M
Gross Margin %	0.64%	0.64%	0.67%	0.64%	0.49%	0.49%	0.51%	0.5%	0.49%	0.48%
Gross Profit Growth %	1.56%	0.28%	0.07%	-0.11%	-0.52%	0.05%	0.45%	0.11%	-0.06%	0.09%
Operating Expenses+	314.13M	405.85M	443.58M	425.48M	144.28M	250.65M	296.3M	306.82M	295.47M	473.68M
OpEx % of Revenue	0.49%	0.5%	0.53%	0.55%	0.3%	0.49%	0.42%	0.38%	0.39%	0.55%
Selling, General & Admin	286.52M	366.7M	401.46M	274.43M	85.08M	78.1M	107.98M	116.64M	116.73M	263.94M
SG&A % of Revenue	0.45%	0.45%	0.48%	0.35%	0.18%	0.15%	0.15%	0.14%	0.15%	0.31%
Research & Development	0	0	0	0	33.24M	35.39M	45.51M	51.93M	49.26M	63.82M
R&D % of Revenue	-	-	-	-	0.07%	0.07%	0.06%	0.06%	0.06%	0.07%
Other Operating Expenses	27.61M	39.15M	42.12M	151.05M	25.95M	137.16M	142.81M	138.25M	129.47M	145.92M
Operating Income+	98M	120.36M	117.57M	121.13M	92.17M	-2.05M	63.82M	94.28M	81.52M	-62.38M
Operating Margin %	0.15%	0.15%	0.14%	0.16%	0.19%	-0%	0.09%	0.12%	0.11%	-0.07%
Operating Income Growth %	-1%	0.23%	-0.02%	0.03%	-0.24%	-1.02%	32.15%	0.48%	-0.14%	-1.77%
EBITDA+	125.61M	159.52M	157.29M	163.72M	118.12M	135.11M	206.64M	232.52M	210.99M	83.53M
EBITDA Margin %	0.2%	0.2%	0.19%	0.21%	0.25%	0.27%	0.29%	0.29%	0.28%	0.1%
EBITDA Growth %	-0.99%	0.27%	-0.01%	0.04%	-0.28%	0.14%	0.53%	0.13%	-0.09%	-0.6%
D&A (Non-Cash Add-back)	27.61M	39.15M	39.72M	42.59M	25.95M	137.16M	142.81M	138.25M	129.47M	145.92M
EBIT	96.75M	119.42M	223.47M	72.72M	93.11M	-2.05M	52.32M	94.28M	81.52M	-62.77M
Net Interest Income+	0	0	-8.62M	-1.65M	-51.02M	-47.49M	-24.97M	-9.2M	-33.04M	-51.85M
Interest Income	0	0	2.02M	897K	945K	555K	150K	0	0	0
Interest Expense	0	6.43M	10.64M	2.55M	51.96M	48.05M	25.12M	9.2M	33.04M	51.85M
Other Income/Expense	3.94M	-6.43M	104.61M	102.51M	-51.02M	-69.75M	-38.91M	-9.2M	-33.04M	-52.23M
Pretax Income+	102.39M	113.93M	222.19M	223.64M	41.15M	-71.8M	24.91M	85.08M	48.48M	-114.61M
Pretax Margin %	0.16%	0.14%	0.26%	0.29%	0.09%	-0.14%	0.03%	0.11%	0.06%	-0.13%
Income Tax+	43.01M	47.38M	84.08M	85.53M	6.9M	12.23M	8.86M	20.48M	11.18M	-4.34M
Effective Tax Rate %	0.57%	0.58%	0.62%	0.16%	0.83%	1.17%	0.64%	0.76%	0.77%	0.96%
Net Income+	58.43M	66.16M	138.11M	34.86M	34.25M	-84.02M	16.05M	64.6M	37.29M	-110.27M
Net Margin %	0.09%	0.08%	0.16%	0.04%	0.07%	-0.17%	0.02%	0.08%	0.05%	-0.13%
Net Income Growth %	4.47%	0.13%	1.09%	-0.75%	-0.02%	-3.45%	1.19%	3.02%	-0.42%	-3.96%
Net Income (Continuing)	57.69M	65.6M	126.12M	39.1M	34.25M	-84.02M	16.05M	64.6M	37.29M	-110.27M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	47.71M	48.41M	48.42M	44.2M	0	0	0	0	0	0
EPS (Diluted)+	1.09	1.14	2.34	0.59	0.22	-0.55	0.11	0.43	0.26	-0.74
EPS Growth %	0.28%	0.05%	1.05%	-0.75%	-0.63%	-3.5%	1.2%	2.91%	-0.4%	-3.85%
EPS (Basic)	1.10	1.15	2.35	0.59	0.22	-0.55	0.11	0.43	0.26	-0.74
Diluted Shares Outstanding	53.59M	58.08M	59.12M	59.5M	152.86M	152.86M	152.9M	151.81M	146.23M	148.58M
Basic Shares Outstanding	52.88M	57.5M	58.87M	59.39M	152.86M	152.86M	152.9M	150.23M	144.08M	148.58M
Dividend Payout Ratio	-	-	0.03%	-	-	-	0.02%	-	5.84%	-

Balance Sheet

	Dec 2005	Dec 2006	Dec 2007	Dec 2008	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	145.18M	198.89M	265.35M	205.64M	185.9M	277.78M	466.16M	566.2M	373.74M	475.99M
Cash & Short-Term Investments	28.38M	31.94M	76.6M	52.36M	81.95M	154.24M	293.58M	393.61M	213.77M	168.69M
Cash Only	28.38M	31.94M	76.6M	52.36M	80.62M	152.97M	292.64M	391.65M	213.77M	168.69M
Short-Term Investments	0	0	0	0	1.33M	1.27M	941K	1.96M	0	0
Accounts Receivable	107.81M	143.64M	148.88M	121.53M	98.29M	117.04M	158.06M	147.04M	146.4M	275.47M
Days Sales Outstanding	61.12	64.13	64.47	56.87	74.47	83.9	81	66.26	69.96	116.89
Inventory	0	0	0	0	126K	0	0	0	0	0
Days Inventory Outstanding	-	-	-	-	0.19	-	-	-	-	-
Other Current Assets	10.78M	18.79M	38.08M	22.72M	-2.1M	6.5M	148K	25.55M	10.7M	22.24M
Total Non-Current Assets+	832.86M	891.03M	966.58M	930.12M	358.83M	1.49B	1.42B	1.32B	1.26B	3.45B
Property, Plant & Equipment	56.68M	68.93M	80.95M	81.81M	29.09M	190.28M	154.31M	113.53M	79.44M	307.54M
Fixed Asset Turnover	11.36x	11.86x	10.41x	9.53x	16.56x	2.68x	4.62x	7.13x	9.61x	2.80x
Goodwill	605.88M	650.12M	695.74M	731.37M	261.59M	770.09M	793.89M	793.08M	820.65M	2.12B
Intangible Assets	121.4M	113.38M	100.16M	82.89M	65.79M	523.36M	464.35M	397.18M	344.01M	987.95M
Long-Term Investments	-27.21M	-12.05M	85.48M	30.36M	0	0	0	0	0	0
Other Non-Current Assets	59.02M	58.59M	-21.77M	-19.04M	1.37M	1.37M	6.46M	13.42M	10.02M	21.2M
Total Assets+	978.04M	1.09B	1.23B	1.14B	544.73M	1.76B	1.89B	1.89B	1.63B	3.92B
Asset Turnover	0.66x	0.75x	0.68x	0.69x	0.88x	0.29x	0.38x	0.43x	0.47x	0.22x
Asset Growth %	1.27%	0.11%	0.13%	-0.08%	-0.52%	2.24%	0.07%	-0%	-0.14%	1.41%
Total Current Liabilities+	131.8M	136.93M	189.73M	102.8M	78.43M	97.84M	109.31M	100.79M	85.04M	250.69M
Accounts Payable	37.15M	43.29M	51.75M	39.12M	36.34M	44.12M	53.98M	54.95M	47.02M	120.87M
Days Payables Outstanding	58.55	54.24	67.04	50.51	54.07	61.8	55.94	49.04	44.38	98.28
Short-Term Debt	38.44M	20.79M	18.28M	9.89M	0	8.38M	0	0	0	21.85M
Deferred Revenue (Current)	1000K	1000K	1000K	1000K	691K	431K	873K	1000K	1000K	1000K
Other Current Liabilities	0	8.45M	4.99M	0	22.76M	23.52M	30.05M	22.7M	16.38M	52.8M
Current Ratio	1.10x	1.45x	1.40x	2.00x	2.37x	2.84x	4.26x	5.62x	4.39x	1.90x
Quick Ratio	1.10x	1.45x	1.40x	2.00x	2.37x	2.84x	4.26x	5.62x	4.39x	1.90x
Cash Conversion Cycle	-	-	-	-	20.58	-	-	-	-	-
Total Non-Current Liabilities+	215.68M	229.67M	110.68M	95.91M	560.52M	871.58M	645.04M	658.42M	638.88M	2.37B
Long-Term Debt	182.13M	179.53M	14.4M	22.94M	540.84M	778.61M	554.85M	556.65M	558.46M	2.12B
Capital Lease Obligations	0	0	0	0	0	988K	0	7.88M	5.93M	9.15M
Deferred Tax Liabilities	27.21M	44.8M	90.78M	67.68M	12.82M	86.77M	84.65M	90.56M	71.27M	222.74M
Other Non-Current Liabilities	6.34M	5.34M	5.49M	5.3M	6.86M	5.22M	5.54M	3.34M	3.22M	11.99M
Total Liabilities	347.49M	366.57M	299.92M	198.72M	638.95M	969.42M	754.34M	759.21M	723.92M	2.62B
Total Debt+	220.57M	200.32M	32.69M	32.83M	540.84M	787.97M	554.85M	569.49M	567.74M	2.16B
Net Debt	192.19M	168.38M	-43.91M	-19.53M	460.22M	635M	262.2M	177.83M	353.97M	1.99B
Debt / Equity	0.35x	0.28x	0.04x	0.04x	-	0.99x	0.49x	0.51x	0.63x	1.65x
Debt / EBITDA	1.76x	1.26x	0.21x	0.20x	4.58x	5.83x	2.69x	2.45x	2.69x	25.82x
Net Debt / EBITDA	1.53x	1.06x	-0.28x	-0.12x	3.90x	4.70x	1.27x	0.76x	1.68x	23.80x
Interest Coverage	-	18.72x	11.05x	47.54x	1.77x	-0.04x	2.54x	10.25x	2.47x	-1.20x
Total Equity+	630.56M	723.35M	932.01M	937.05M	-94.22M	794.27M	1.13B	1.13B	906.73M	1.31B
Equity Growth %	1.17%	0.15%	0.29%	0.01%	-1.1%	9.43%	0.43%	-0%	-0.2%	0.44%
Book Value per Share	11.77	12.45	15.76	15.75	-0.62	5.20	7.41	7.42	6.20	8.80
Total Shareholders' Equity	582.85M	674.94M	883.59M	892.85M	-94.22M	794.27M	1.13B	1.13B	906.73M	1.31B
Common Stock	56K	58K	59K	60K	119.87M	0	153K	149K	145K	173K
Retained Earnings	152.41M	218.57M	355.75M	390.6M	-201.23M	-47.49M	-31.44M	-27.36M	-49.55M	-159.81M
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	361K	660K	39.1M	-412K	-12.85M	2.48M	-1.64M	-22.33M	-21.16M	-37.33M
Minority Interest	47.71M	48.41M	48.42M	44.2M	0	0	0	0	0	0

Cash Flow

	Dec 2005	Dec 2006	Dec 2007	Dec 2008	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	72.31M	93.3M	134.6M	66.3M	71.58M	52.24M	148.68M	212.77M	162.82M	28.2M
Operating CF Margin %	0.11%	0.11%	0.16%	0.08%	0.15%	0.1%	0.21%	0.26%	0.21%	0.03%
Operating CF Growth %	2.02%	0.29%	0.44%	-0.51%	0.08%	-0.27%	1.85%	0.43%	-0.23%	-0.83%
Net Income	58.43M	66.16M	138.11M	39.1M	34.25M	-84.02M	16.05M	64.6M	37.29M	-110.27M
Depreciation & Amortization	27.61M	39.15M	42.12M	42.59M	25.95M	137.16M	142.81M	138.25M	129.47M	145.92M
Stock-Based Compensation	0	0	0	9.12M	1.22M	5.85M	9.53M	7.86M	15.27M	31.76M
Deferred Taxes	-1.84M	6.19M	-5M	2.63M	2.08M	0	-2.92M	4.6M	-19.5M	-31.42M
Other Non-Cash Items	-10.41M	16.51M	-97.83M	25.32M	3.13M	-815K	17.07M	-9.06M	3.48M	-7.63M
Working Capital Changes	-1.48M	-28.73M	57.2M	-52.46M	4.95M	-5.94M	-33.87M	6.53M	-3.2M	-168K
Change in Receivables	0	0	0	18.93M	-10.96M	-19.16M	-40.84M	9.15M	2.34M	20.77M
Change in Inventory	0	0	0	0	11.16M	0	-10.59M	0	0	0
Change in Payables	0	0	0	-6.43M	12.76M	7.66M	7.52M	2.98M	-8.5M	-25.45M
Cash from Investing+	-154.08M	-64.13M	78.26M	-92.6M	-17.79M	-17.61M	-72.43M	-48.6M	-66.85M	-1.65B
Capital Expenditures	-19.1M	-33.23M	-40.35M	-35.28M	-16.7M	-17.71M	-23.8M	-28.53M	-2.08M	-1.72M
CapEx % of Revenue	0.03%	0.04%	0.05%	0.05%	0.03%	0.03%	0.03%	0.04%	0%	0%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	18.63M	0	24.32M	1.72M	-1.09M	-11.36M	305K	-1.02M	-23.64M	-30.46M
Cash from Financing+	100.16M	-25.6M	-167.88M	3.05M	-3.18M	36.68M	63.85M	-59.15M	-273.56M	1.58B
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	-3.93M	0	0	-23.82M	-313K	0	-217.74M	-255K
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	19.34M	-2.61M	4.08M	5.79M	0	0	-5.94M	-1.26M	3.28M	-53.22M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	53.2M	60.07M	94.25M	31.02M	54.88M	34.53M	124.88M	184.24M	135.12M	26.48M
FCF Margin %	0.08%	0.07%	0.11%	0.04%	0.11%	0.07%	0.18%	0.23%	0.18%	0.03%
FCF Growth %	2.09%	0.13%	0.57%	-0.67%	0.77%	-0.37%	2.62%	0.48%	-0.27%	-0.8%
FCF per Share	0.99	1.03	1.59	0.52	0.36	0.23	0.82	1.21	0.92	0.18
FCF Conversion (FCF/Net Income)	1.24x	1.41x	0.97x	1.90x	2.09x	-0.62x	9.26x	3.29x	4.37x	-0.26x
Interest Paid	0	0	11.31M	2.54M	55.78M	0	23.03M	27.04M	45.7M	65.77M
Taxes Paid	0	0	30M	84.81M	5.25M	0	10.36M	17.48M	31.62M	23.39M

Key Ratios

Metric	2005	2006	2007	2008	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	12.69%	9.77%	16.69%	3.73%	8.13%	-24%	1.67%	5.72%	3.67%	-9.96%
Return on Invested Capital (ROIC)	12.14%	10.53%	9.91%	10.06%	10.77%	-0.17%	3.39%	5.24%	4.77%	-2.05%
Gross Margin	64.02%	64.36%	66.57%	63.76%	49.08%	48.83%	50.56%	49.52%	49.36%	47.81%
Net Margin	9.08%	8.09%	16.38%	4.47%	7.11%	-16.5%	2.25%	7.98%	4.88%	-12.82%
Debt / Equity	0.35x	0.28x	0.04x	0.04x	-	0.99x	0.49x	0.51x	0.63x	1.65x
Interest Coverage	-	18.72x	11.05x	47.54x	1.77x	-0.04x	2.54x	10.25x	2.47x	-1.20x
FCF Conversion	1.24x	1.41x	0.97x	1.90x	2.09x	-0.62x	9.26x	3.29x	4.37x	-0.26x
Revenue Growth	141.52%	27%	3.1%	-7.47%	-38.23%	5.68%	39.9%	13.72%	-5.71%	12.63%

Revenue by Segment

	2021	2022	2023	2024
First Advantage Americas	-	-	-	656.89M
First Advantage Americas Growth	-	-	-	-
Sterling	-	-	-	112.9M
Sterling Growth	-	-	-	-
First Advantage International	-	-	-	90.42M
First Advantage International Growth	-	-	-	-

Revenue by Geography

	2021	2022	2023	2024
UNITED STATES	-	-	-	740.51M
UNITED STATES Growth	-	-	-	-
Non-US	-	-	-	119.7M
Non-US Growth	-	-	-	-
Americas	604.41M	694.87M	673.08M	-
Americas Growth	-	14.97%	-3.14%	-
Non Us	114.01M	-	-	-
Non Us Growth	-	-	-	-

Frequently Asked Questions

Growth & Financials

First Advantage Corporation (FA) reported $1.46B in revenue for fiscal year 2024. This represents a 778% increase from $166.5M in 2003.

First Advantage Corporation (FA) grew revenue by 12.6% over the past year. This is steady growth.

First Advantage Corporation (FA) reported a net loss of $138.7M for fiscal year 2024.

Dividend & Returns

First Advantage Corporation (FA) does not currently pay a meaningful dividend. The company may be reinvesting profits for growth.

First Advantage Corporation (FA) has a return on equity (ROE) of -10.0%. Negative ROE indicates the company is unprofitable.

First Advantage Corporation (FA) generated $28.4M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.