First Advantage (FA) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

First Advantage

NasdaqGS•Industrials•Specialty Business Services

$21.56-0.09(<0.01%)Pre-market

Market Cap

$3.56B

P/E

141.5x

P/S

2.1x

P/B

2.8x

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.

How this company scores

GoodMetricSide Score: 75/100

Strongest: Cash & Earnings Quality (24/25); weakest: Balance Sheet & Red Flags (12/25).

Profitability17/25

Growth22/25

Balance Sheet & Red Flags12/25

Cash & Earnings Quality24/25

Strengths

Growing revenueRising free cash flowRising earningsCash-backed earnings

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/E · 141.5x5y range 29.9x – 583.0x

Currently above its 13-quarter median.

P/S · 2.1x5y range 1.2x – 3.8x

Currently near its 18-quarter median.

P/B · 2.8x5y range 1.5x – 3.1x

Watch items

Data-driven signals worth keeping an eye on across the last 8 quarters

High Risk

Margin Pressure

Red Flag

The company posted negative operating margins in recent quarters — core operations are unprofitable.

Share Dilution

Red Flag

Shares outstanding increased 19.2% — significant dilution, likely from stock compensation or capital raises.

Price & Volume

Market Cap $3.56B

Metrics at a Glance

as of June 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue: $1.66B
Q. Revenue: $448.76M
TTM EBITDA: $426.75M
TTM Op. Income: $177.66M
Q. Op. Income: $57.02M
TTM Net Income: $25.14M
Q. Net Income: $16.91M
EPS: $0.1
Shares Out.: $171.75M

$1.66B in TTM revenue grew 32.9% YoY, reaching $448.76M last quarter. TTM EBITDA of $426.75M and TTM operating income of $177.66M show growth is flowing through to the bottom line. TTM net income of $25.14M means revenue is converting into profit. Across the last 8 quarters, TTM revenue has risen for 7 consecutive quarters — an improving trend.

Margins

Gross, EBITDA, operating, and net margin trends

EBITDA Margin: 26.5%
Op. Margin: 12.7%
Net Margin: 3.8%

Op. margin of 12.7% is up 3.0% YoY — cost efficiency is improving. Net margin at 3.8% Over the past year, operating margin is up 32% — an improving trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio: 141.5x
P/S Ratio: 2.1x
P/B Ratio: 2.8x

At 141.5x P/E, the stock trades above typical market levels — the market expects above-average growth. P/S of 2.1x and P/B of 2.8x provide additional context. Use the growth and margin sections to judge whether the multiple is justified. Across the last 3 quarters, P/E has fallen for 2 consecutive quarters — an improving trend.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets: $3.75B
Cash: $237.90M
Long-Term Debt: $2.03B
Book Value: $1.29B
D/E Ratio: 1.6
Debt/EBITDA: 17.1

With $3.75B in assets and $2.03B in long-term debt, D/E is 1.6and book value is $1.29B — moderate leverage. Over the past year, debt/equity is down 3% — an improving trend.

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow: $73.60M
TTM Free Cash Flow: $248.96M
FCF Margin: 15.0%
FCF / Net Income: 9.9

TTM FCF of $248.96M on $73.60M in operating cash flow. The FCF / Net Income ratio of 9.9x means free cash flow covers net income — earnings are backed by cash. Across the last 8 quarters, free cash flow has risen for 5 consecutive quarters — an improving trend.