First Advantage (FA) Financials

$13.47 -0.32 (-2.32%)

Closing price 04:00 PM Eastern

Extended Trading

$13.46 -0.01 (-0.07%)

As of 04:07 PM Eastern

Annual Income Statements for First Advantage

This table shows First Advantage's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2019	2021	2022	2023	2024
Net Income / (Loss) Attributable to Common Shareholders	100	16	65	37	-110
Consolidated Net Income / (Loss)	100	16	65	37	-110
Net Income / (Loss) Continuing Operations	100	16	65	37	-110
Total Pre-Tax Income	41	25	85	48	-115
Total Operating Income	92	64	94	82	-62
Total Gross Profit	482	712	810	764	860
Total Revenue	482	712	810	764	860
Operating Revenue	482	712	810	764	860
Total Cost of Revenue	0.00	0.00	0.00	0.00	0.00
Total Operating Expenses	390	648	716	682	923
Selling, General & Admin Expense	85	108	117	117	264
Research & Development Expense	33	46	52	49	64
Depreciation Expense	26	143	138	129	146
Other Operating Expenses / (Income)	245	352	409	387	449
Total Other Income / (Expense), net	-52	-39	-9.20	-33	-52
Interest Expense	0.00	39	9.20	33	52
Other Income / (Expense), net	0.00	0.00	0.00	0.00	0.00
Income Tax Expense	-6.90	8.86	20	11	-4.34
Basic Earnings per Share	$0.23	$0.11	$0.43	$0.26	($0.74)
Weighted Average Basic Shares Outstanding	149.69M	140.48M	150.23M	144.08M	148.58M
Diluted Earnings per Share	$0.21	$0.11	$0.43	$0.26	($0.74)
Weighted Average Diluted Shares Outstanding	163.88M	141.69M	151.81M	146.23M	148.58M
Weighted Average Basic & Diluted Shares Outstanding	-	152.94M	147.78M	145.16M	173.51M
Cash Dividends to Common per Share	-	-	-	$1.50	$1.50

This table shows First Advantage's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Net Income / (Loss) Attributable to Common Shareholders	17	20	1.93	9.78	11	15	-2.91	1.86	-8.86	-100
Consolidated Net Income / (Loss)	17	20	1.93	9.78	11	15	-2.91	1.86	-8.86	-100
Net Income / (Loss) Continuing Operations	17	20	1.93	9.78	11	15	-2.91	1.86	-8.86	-100
Total Pre-Tax Income	24	24	2.61	14	16	16	-4.30	2.55	-8.08	-105
Total Operating Income	26	29	11	18	23	29	-0.73	9.90	9.11	-81
Total Gross Profit	206	213	176	185	200	203	169	185	199	307
Total Revenue	206	213	176	185	200	203	169	185	199	307
Operating Revenue	206	213	176	185	200	203	169	185	199	307
Total Operating Expenses	180	184	164	168	177	173	170	175	190	388
Selling, General & Admin Expense	28	29	29	30	30	28	41	39	46	139
Research & Development Expense	13	12	13	13	13	11	12	14	13	25
Depreciation Expense	35	35	32	32	32	33	30	30	30	56
Other Operating Expenses / (Income)	104	108	91	93	101	101	87	92	101	168
Total Other Income / (Expense), net	-1.74	-5.20	-8.68	-3.89	-7.56	-13	-3.57	-7.35	-17	-24
Interest Expense	1.74	5.20	8.68	3.89	7.56	13	3.57	7.35	17	24
Income Tax Expense	6.71	3.40	0.68	3.97	4.88	1.65	-1.39	0.69	0.78	-4.43
Basic Earnings per Share	$0.11	$0.14	$0.01	$0.07	$0.08	$0.10	($0.02)	$0.01	($0.06)	($0.67)
Weighted Average Basic Shares Outstanding	150.93M	150.23M	145.86M	144.11M	143.23M	144.08M	143.59M	143.86M	144.10M	148.58M
Diluted Earnings per Share	$0.11	$0.14	$0.01	$0.07	$0.07	$0.11	($0.02)	$0.01	($0.06)	($0.67)
Weighted Average Diluted Shares Outstanding	152.36M	151.81M	147.03M	145.34M	144.73M	146.23M	143.59M	145.86M	144.10M	148.58M
Weighted Average Basic & Diluted Shares Outstanding	151.93M	147.78M	146.26M	145.19M	145.12M	145.16M	145.20M	145.41M	172.65M	173.51M

This table details how cash moves in and out of First Advantage's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2019	2021	2022	2023	2024
Net Change in Cash & Equivalents	50	25	99	-178	-44
Net Cash From Operating Activities	72	149	213	163	28
Net Cash From Continuing Operating Activities	72	149	213	163	28
Net Income / (Loss) Continuing Operations	34	16	65	37	-110
Consolidated Net Income / (Loss)	34	16	65	37	-110
Depreciation Expense	26	143	138	129	146
Amortization Expense	3.17	5.94	1.80	1.81	2.62
Non-Cash Adjustments To Reconcile Net Income	1.17	21	-3.91	16	21
Changes in Operating Assets and Liabilities, net	7.04	-37	12	-21	-31
Net Cash From Investing Activities	-18	-72	-49	-67	-1,652
Net Cash From Continuing Investing Activities	-18	-72	-49	-67	-1,652
Purchase of Property, Plant & Equipment	-17	-24	-29	-28	-32
Acquisitions	0.00	-49	-19	-41	-1,620
Other Investing Activities, net	-	0.31	-1.02	1.97	0.09
Net Cash From Financing Activities	-3.18	64	-59	-274	1,581
Net Cash From Continuing Financing Activities	-3.18	-51	-59	-273	1,595
Repayment of Debt	-3.18	-365	0.00	0.00	-97
Repurchase of Common Equity	0.00	-4.03	-61	-59	0.00
Payment of Dividends	0.00	0.00	0.00	-218	-0.26
Issuance of Debt	0.00	-	0.00	0.00	1,679
Issuance of Common Equity	0.00	321	3.52	4.57	15
Other Financing Activities, net	0.00	-2.76	-1.77	-1.04	-0.71
Effect of Exchange Rate Changes	-0.13	-	-6.01	-0.30	-1.70
Cash Interest Paid	56	23	27	46	66
Cash Income Taxes Paid	5.25	10	17	32	23

This table details how cash moves in and out of First Advantage's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Net Change in Cash & Equivalents	38	1.40	8.50	-1.11	-234	49	32	24	38	-138
Net Cash From Operating Activities	46	70	39	33	34	57	38	32	43	-86
Net Cash From Continuing Operating Activities	46	70	39	33	34	57	38	32	43	-86
Net Income / (Loss) Continuing Operations	17	20	1.93	9.78	11	15	-2.91	1.86	-8.86	-100
Consolidated Net Income / (Loss)	17	20	1.93	9.78	11	15	-2.91	1.86	-8.86	-100
Depreciation Expense	35	35	32	32	32	33	30	30	30	56
Amortization Expense	0.45	0.46	0.46	0.47	0.44	0.45	0.45	0.46	0.47	1.23
Non-Cash Adjustments To Reconcile Net Income	-1.19	1.53	5.00	1.23	2.77	6.57	-2.73	2.71	17	3.24
Changes in Operating Assets and Liabilities, net	-4.82	13	-0.65	-10	-12	1.79	14	-2.97	4.29	-46
Net Cash From Investing Activities	-6.16	-8.07	-6.08	-7.24	-49	-4.92	-7.03	-6.78	-7.90	-1,630
Net Cash From Continuing Investing Activities	-6.16	-8.07	-6.08	-7.24	-49	-4.92	-7.03	-6.78	-7.90	-1,630
Purchase of Property, Plant & Equipment	-6.95	-6.17	-6.10	-7.02	-7.46	-7.12	-6.46	-7.41	-7.91	-10
Acquisitions	-	-0.01	-	-	-	-	-	-	-	-1,620
Other Investing Activities, net	0.79	-1.89	0.02	-0.21	-0.04	2.21	-0.58	0.63	-0.02	0.06
Net Cash From Financing Activities	-1.01	-58	-24	-27	-220	-2.99	0.69	-0.48	0.94	1,580
Net Cash From Continuing Financing Activities	-0.82	-58	-24	-27	-220	-2.90	0.73	-0.21	0.63	1,594
Payment of Dividends	-	-	0.00	-	-218	-0.06	-0.01	-0.19	-0.01	-0.04
Issuance of Common Equity	1.82	0.43	1.40	0.71	1.99	0.48	0.98	0.22	4.67	8.79
Other Financing Activities, net	-0.39	-0.39	-0.27	-0.27	-0.26	-0.24	-0.23	-0.24	-4.03	3.79
Cash Interest Paid	7.45	9.40	11	11	12	12	12	12	12	30
Cash Income Taxes Paid	5.14	6.15	2.05	12	7.21	11	2.51	15	2.01	4.22

This table presents First Advantage's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2020	2021	2022	2023	2024
Total Assets	1,764	1,887	1,886	1,631	3,923
Total Current Assets	278	466	566	374	476
Cash & Equivalents	153	293	392	214	169
Restricted Cash	0.15	0.15	0.14	0.14	0.80
Accounts Receivable	111	156	144	143	267
Prepaid Expenses	8.70	14	25	13	31
Current Deferred & Refundable Income Taxes	3.48	2.29	3.23	3.71	8.67
Plant, Property, & Equipment, net	190	154	114	79	308
Total Noncurrent Assets	1,296	1,266	1,206	1,177	3,139
Goodwill	770	794	793	821	2,125
Intangible Assets	523	464	71	344	988
Noncurrent Deferred & Refundable Income Taxes	0.81	1.41	2.42	2.79	5.68
Other Noncurrent Operating Assets	1.37	6.46	339	10	21
Total Liabilities & Shareholders' Equity	1,764	1,887	1,886	1,631	3,923
Total Liabilities	969	754	759	724	2,616
Total Current Liabilities	98	109	101	85	251
Short-Term Debt	6.70	0.00	-	0.00	22
Accounts Payable	44	54	55	47	121
Accrued Expenses	25	22	16	16	45
Current Deferred Revenue	0.43	0.87	1.06	1.86	4.27
Current Deferred & Payable Income Tax Liabilities	2.45	2.57	0.72	0.26	1.94
Current Employee Benefit Liabilities	19	30	23	16	53
Other Current Liabilities	-	0.00	4.96	3.35	4.25
Total Noncurrent Liabilities	872	645	658	639	2,365
Long-Term Debt	779	555	557	558	2,121
Noncurrent Deferred & Payable Income Tax Liabilities	87	85	91	71	223
Other Noncurrent Operating Liabilities	6.21	5.54	11	9.15	21
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	794	1,132	1,127	907	1,307
Total Preferred & Common Equity	794	1,132	1,127	907	1,307
Total Common Equity	794	1,132	1,127	907	1,307
Common Stock	839	1,165	1,176	977	1,504
Retained Earnings	-47	-31	-27	-50	-160
Accumulated Other Comprehensive Income / (Loss)	2.48	-1.64	-22	-21	-37

This table presents First Advantage's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024
Total Assets	1,922	1,848	1,838	1,629	1,632	1,636	1,657
Total Current Assets	571	555	572	349	400	427	467
Cash & Equivalents	390	400	399	165	245	270	307
Restricted Cash	0.14	0.14	0.14	0.13	0.14	0.09	0.09
Accounts Receivable	151	128	140	157	129	131	143
Prepaid Expenses	27	23	21	19	22	20	14
Current Deferred & Refundable Income Taxes	2.56	2.48	8.96	5.89	2.57	7.10	2.81
Plant, Property, & Equipment, net	126	103	93	90	71	63	55
Total Noncurrent Assets	1,225	1,189	1,173	1,190	1,161	1,145	1,135
Goodwill	792	793	794	821	820	819	822
Intangible Assets	413	382	367	357	329	315	302
Noncurrent Deferred & Refundable Income Taxes	1.74	2.41	2.47	3.19	2.80	2.87	3.17
Other Noncurrent Operating Assets	18	11	10	9.05	9.20	8.27	7.60
Total Liabilities & Shareholders' Equity	1,922	1,848	1,838	1,629	1,632	1,636	1,657
Total Liabilities	762	740	744	741	724	723	736
Total Current Liabilities	102	85	90	95	93	99	121
Accounts Payable	52	47	52	56	48	55	71
Accrued Expenses	18	17	16	17	24	21	23
Current Deferred Revenue	0.85	1.26	1.31	1.16	2.04	2.23	2.50
Current Deferred & Payable Income Tax Liabilities	1.66	0.81	0.38	0.48	2.99	0.33	3.53
Current Employee Benefit Liabilities	23	13	15	16	13	17	19
Other Current Liabilities	5.50	5.64	5.59	4.73	3.37	2.98	2.57
Total Noncurrent Liabilities	660	655	654	647	631	624	615
Long-Term Debt	556	557	558	558	559	559	560
Noncurrent Deferred & Payable Income Tax Liabilities	91	88	88	82	64	57	48
Other Noncurrent Operating Liabilities	13	9.84	8.74	6.44	8.46	7.66	7.04
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	1,160	1,107	1,094	888	908	913	921
Total Preferred & Common Equity	1,160	1,107	1,094	888	908	913	921
Total Common Equity	1,160	1,107	1,094	888	908	913	921
Common Stock	1,174	1,180	1,184	972	983	988	999
Retained Earnings	11	-51	-69	-61	-52	-51	-59
Accumulated Other Comprehensive Income / (Loss)	-25	-21	-21	-23	-23	-24	-19

This table displays calculated financial ratios and metrics derived from First Advantage's official financial filings.

Metric	2019	2021	2022	2023	2024
Growth Metrics	-	-	-	-	-
Revenue Growth	0.00%	0.00%	13.72%	-5.71%	12.63%
EBITDA Growth	0.00%	0.00%	10.23%	-9.19%	-59.51%
EBIT Growth	0.00%	0.00%	47.72%	-13.54%	-176.53%
NOPAT Growth	0.00%	0.00%	74.10%	-12.40%	-169.64%
Net Income Growth	0.00%	0.00%	302.49%	-42.27%	-395.69%
EPS Growth	0.00%	0.00%	290.91%	-39.53%	-384.62%
Operating Cash Flow Growth	0.00%	0.00%	43.11%	-23.48%	-82.68%
Free Cash Flow Firm Growth	0.00%	0.00%	0.00%	-42.46%	-2,153.60%
Invested Capital Growth	0.00%	0.00%	-7.45%	-2.97%	162.19%
Revenue Q/Q Growth	0.00%	0.00%	0.01%	-1.30%	13.84%
EBITDA Q/Q Growth	0.00%	0.00%	0.94%	-0.61%	-50.09%
EBIT Q/Q Growth	0.00%	0.00%	3.77%	0.79%	-230.86%
NOPAT Q/Q Growth	0.00%	0.00%	10.28%	1.06%	-224.02%
Net Income Q/Q Growth	0.00%	0.00%	7.96%	-12.51%	-2,347.72%
EPS Q/Q Growth	0.00%	0.00%	4.88%	-10.34%	-1,950.00%
Operating Cash Flow Q/Q Growth	0.00%	0.00%	2.46%	-7.49%	-83.47%
Free Cash Flow Firm Q/Q Growth	0.00%	0.00%	0.00%	-7.38%	-1,570.57%
Invested Capital Q/Q Growth	0.00%	0.00%	-2.74%	-2.16%	179.67%
Profitability Metrics	-	-	-	-	-
Gross Margin	100.00%	100.00%	100.00%	100.00%	100.00%
EBITDA Margin	25.18%	29.84%	28.93%	27.86%	10.02%
Operating Margin	19.13%	8.96%	11.64%	10.67%	-7.25%
EBIT Margin	19.13%	8.96%	11.64%	10.67%	-7.25%
Profit (Net Income) Margin	20.76%	2.25%	7.98%	4.88%	-12.82%
Tax Burden Percent	243.05%	64.43%	75.93%	76.93%	96.21%
Interest Burden Percent	44.65%	39.03%	90.24%	59.47%	183.73%
Effective Tax Rate	-16.76%	35.57%	24.07%	23.07%	0.00%
Return on Invested Capital (ROIC)	0.00%	2.95%	5.34%	4.94%	-1.93%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	-6.65%	2.04%	-5.08%	-7.67%
Return on Net Nonoperating Assets (RNNOA)	0.00%	-1.53%	0.38%	-1.27%	-8.04%
Return on Equity (ROE)	0.00%	1.42%	5.72%	3.67%	-9.96%
Cash Return on Invested Capital (CROIC)	0.00%	0.00%	13.08%	7.95%	-91.49%
Operating Return on Assets (OROA)	0.00%	3.50%	5.00%	4.64%	-2.25%
Return on Assets (ROA)	0.00%	0.88%	3.43%	2.12%	-3.97%
Return on Common Equity (ROCE)	0.00%	1.42%	5.72%	3.67%	-9.96%
Return on Equity Simple (ROE_SIMPLE)	0.00%	1.42%	5.73%	4.11%	-8.44%
Net Operating Profit after Tax (NOPAT)	108	41	72	63	-44
NOPAT Margin	22.34%	5.77%	8.84%	8.21%	-5.08%
Net Nonoperating Expense Percent (NNEP)	0.00%	9.60%	3.29%	10.02%	5.75%
Return On Investment Capital (ROIC_SIMPLE)	-	-	4.25%	4.28%	-1.27%
Cost of Revenue to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%
SG&A Expenses to Revenue	17.66%	15.16%	14.40%	15.28%	30.68%
R&D to Revenue	6.90%	6.39%	6.41%	6.45%	7.42%
Operating Expenses to Revenue	80.87%	91.04%	88.36%	89.33%	107.25%
Earnings before Interest and Taxes (EBIT)	92	64	94	82	-62
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	121	213	234	213	86
Valuation Ratios	-	-	-	-	-
Price to Book Value (P/BV)	0.00	2.32	1.58	2.65	2.47
Price to Tangible Book Value (P/TBV)	0.00	0.00	6.78	0.00	0.00
Price to Revenue (P/Rev)	0.79	3.68	2.20	3.15	3.76
Price to Earnings (P/E)	3.82	163.32	27.53	64.48	0.00
Dividend Yield	0.00%	0.00%	0.00%	9.05%	0.00%
Earnings Yield	26.15%	0.61%	3.63%	1.55%	0.00%
Enterprise Value to Invested Capital (EV/IC)	0.00	2.07	1.51	2.20	1.59
Enterprise Value to Revenue (EV/Rev)	0.00	4.05	2.40	3.60	6.05
Enterprise Value to EBITDA (EV/EBITDA)	0.00	13.56	8.29	12.92	60.44
Enterprise Value to EBIT (EV/EBIT)	0.00	45.16	20.59	33.73	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	70.10	27.12	43.84	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	19.39	9.13	16.88	184.69
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	11.07	27.23	0.00
Leverage & Solvency	-	-	-	-	-
Debt to Equity	0.00	0.49	0.49	0.62	1.64
Long-Term Debt to Equity	0.00	0.49	0.49	0.62	1.62
Financial Leverage	0.00	0.23	0.19	0.25	1.05
Leverage Ratio	0.00	1.89	1.67	1.73	2.51
Compound Leverage Factor	0.00	0.74	1.51	1.03	4.61
Debt to Total Capital	0.00%	32.89%	33.07%	38.11%	62.12%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.63%
Long-Term Debt to Total Capital	0.00%	32.89%	33.07%	38.11%	61.48%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	0.00%	67.11%	66.93%	61.89%	37.88%
Debt to EBITDA	0.00	2.61	2.38	2.62	24.88
Net Debt to EBITDA	0.00	1.23	0.70	1.62	22.91
Long-Term Debt to EBITDA	0.00	2.61	2.38	2.62	24.62
Debt to NOPAT	0.00	13.49	7.78	8.91	-49.08
Net Debt to NOPAT	0.00	6.35	2.28	5.49	-45.20
Long-Term Debt to NOPAT	0.00	13.49	7.78	8.91	-48.58
Altman Z-Score	0.00	2.78	2.28	2.80	0.92
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-
Current Ratio	0.00	4.26	5.62	4.39	1.90
Quick Ratio	0.00	4.11	5.33	4.19	1.74
Cash Flow Metrics	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	0.00	0.00	175	101	-2,073
Operating Cash Flow to CapEx	429.44%	624.75%	745.83%	587.82%	87.39%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	19.07	3.06	-39.69
Operating Cash Flow to Interest Expense	0.00	3.82	23.13	4.93	0.54
Operating Cash Flow Less CapEx to Interest Expense	0.00	3.21	20.03	4.09	-0.08
Efficiency Ratios	-	-	-	-	-
Asset Turnover	0.00	0.39	0.43	0.43	0.31
Accounts Receivable Turnover	0.00	5.33	5.41	5.33	4.20
Inventory Turnover	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	0.00	4.13	6.05	7.92	4.45
Accounts Payable Turnover	0.00	0.00	0.00	0.00	0.00
Days Sales Outstanding (DSO)	0.00	68.44	67.50	68.46	86.88
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	0.00	0.00	0.00	0.00	0.00
Cash Conversion Cycle (CCC)	0.00	68.44	67.50	68.46	86.88
Capital & Investment Metrics	-	-	-	-	-
Invested Capital	0.00	1,393	1,290	1,251	3,281
Invested Capital Turnover	0.00	0.51	0.60	0.60	0.38
Increase / (Decrease) in Invested Capital	0.00	0.00	-104	-38	2,029
Enterprise Value (EV)	0.00	2,883	1,942	2,749	5,207
Market Capitalization	383	2,621	1,779	2,405	3,234
Book Value per Share	$0.00	$7.41	$7.42	$6.25	$7.57
Tangible Book Value per Share	$0.00	($0.82)	$1.73	($1.78)	($10.46)
Total Capital	0.00	1,687	1,683	1,465	3,450
Total Debt	0.00	555	557	558	2,143
Total Long-Term Debt	0.00	555	557	558	2,121
Net Debt	0.00	261	163	345	1,974
Capital Expenditures (CapEx)	17	24	29	28	32
Debt-free, Cash-free Net Working Capital (DFCFNWC)	0.00	63	72	75	78
Debt-free Net Working Capital (DFNWC)	0.00	357	465	289	247
Net Working Capital (NWC)	0.00	357	465	289	225
Net Nonoperating Expense (NNE)	7.61	25	6.99	25	67
Net Nonoperating Obligations (NNO)	0.00	261	163	345	1,974
Total Depreciation and Amortization (D&A)	29	149	140	131	149
Debt-free, Cash-free Net Working Capital to Revenue	0.00%	8.86%	8.85%	9.79%	9.03%
Debt-free Net Working Capital to Revenue	0.00%	50.10%	57.46%	37.80%	28.73%
Net Working Capital to Revenue	0.00%	50.10%	57.46%	37.80%	26.19%
Earnings Adjustments	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.00	$0.11	$0.43	$0.26	($0.74)
Adjusted Weighted Average Basic Shares Outstanding	0.00	140.48M	150.23M	144.08M	148.58M
Adjusted Diluted Earnings per Share	$0.00	$0.11	$0.43	$0.26	($0.74)
Adjusted Weighted Average Diluted Shares Outstanding	0.00	141.69M	151.81M	146.23M	148.58M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	0.00	152.94M	147.78M	145.16M	173.51M
Normalized Net Operating Profit after Tax (NOPAT)	65	41	72	63	-44
Normalized NOPAT Margin	13.39%	5.77%	8.84%	8.21%	-5.08%
Pre Tax Income Margin	8.54%	3.50%	10.50%	6.35%	-13.32%
Debt Service Ratios	-	-	-	-	-
EBIT to Interest Expense	0.00	1.64	10.25	2.47	-1.19
NOPAT to Interest Expense	0.00	1.06	7.78	1.90	-0.84
EBIT Less CapEx to Interest Expense	0.00	1.03	7.15	1.63	-1.81
NOPAT Less CapEx to Interest Expense	0.00	0.45	4.68	1.06	-1.45
Payout Ratios	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	583.86%	-0.23%
Augmented Payout Ratio	0.00%	25.13%	93.69%	742.04%	-0.23%

This table displays calculated financial ratios and metrics derived from First Advantage's official financial filings.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	6.80%	0.03%	-7.56%	-8.06%	-2.73%	-4.72%	-3.48%	-0.42%	-0.62%	51.62%
EBITDA Growth	0.36%	3.51%	-15.44%	-12.97%	-7.87%	-2.03%	-32.25%	-19.57%	-29.09%	-137.31%
EBIT Growth	5.21%	13.52%	-33.99%	-22.58%	-9.54%	2.22%	-106.43%	-43.85%	-60.74%	-374.58%
NOPAT Growth	-8.51%	40.30%	-32.74%	-23.90%	-13.47%	7.48%	-106.10%	-42.40%	-60.07%	-313.65%
Net Income Growth	5.67%	30.95%	-85.21%	-31.29%	-37.40%	-26.47%	-251.06%	-80.98%	-182.24%	-777.55%
EPS Growth	0.00%	16.67%	-88.89%	-22.22%	-36.36%	-21.43%	-300.00%	-85.71%	-185.71%	-709.09%
Operating Cash Flow Growth	67.24%	7.89%	-7.18%	-39.59%	-26.00%	-18.86%	-0.70%	-3.26%	26.58%	-250.98%
Free Cash Flow Firm Growth	106.17%	0.00%	110.05%	101.56%	-25.69%	-49.65%	-70.30%	-53.06%	78.25%	-3,325.46%
Invested Capital Growth	-4.76%	-7.45%	-9.36%	-7.65%	-3.54%	-2.97%	-3.30%	-3.78%	-8.27%	162.19%
Revenue Q/Q Growth	2.20%	3.21%	-17.44%	5.58%	8.12%	1.10%	-16.36%	8.93%	7.90%	54.24%
EBITDA Q/Q Growth	5.59%	5.60%	-32.13%	15.01%	11.77%	12.29%	-53.07%	36.53%	-1.46%	-159.09%
EBIT Q/Q Growth	12.63%	12.02%	-60.73%	56.26%	31.60%	26.58%	-102.47%	1,464.05%	-7.98%	-985.26%
NOPAT Q/Q Growth	11.96%	33.22%	-66.10%	50.49%	27.31%	65.47%	-101.92%	1,522.13%	-11.74%	-985.26%
Net Income Q/Q Growth	20.88%	17.07%	-90.44%	408.16%	10.13%	37.50%	-119.63%	164.00%	-576.09%	-1,032.80%
EPS Q/Q Growth	22.22%	27.27%	-92.86%	600.00%	0.00%	57.14%	-118.18%	150.00%	-700.00%	-1,016.67%
Operating Cash Flow Q/Q Growth	-15.32%	50.61%	-44.80%	-14.19%	3.73%	65.14%	-32.45%	-16.40%	35.72%	-296.98%
Free Cash Flow Firm Q/Q Growth	46.88%	51.69%	8.02%	-16.26%	-45.85%	2.80%	-36.29%	32.38%	105.62%	-1,960.09%
Invested Capital Q/Q Growth	-2.08%	-2.74%	-2.12%	-0.94%	2.28%	-2.16%	-2.46%	-1.43%	-2.49%	179.67%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
EBITDA Margin	29.54%	30.23%	24.85%	27.07%	27.98%	31.08%	17.44%	21.86%	19.96%	-7.65%
Operating Margin	12.46%	13.52%	6.43%	9.52%	11.58%	14.50%	-0.43%	5.37%	4.58%	-26.27%
EBIT Margin	12.46%	13.52%	6.43%	9.52%	11.58%	14.50%	-0.43%	5.37%	4.58%	-26.27%
Profit (Net Income) Margin	8.35%	9.48%	1.10%	5.28%	5.38%	7.31%	-1.72%	1.01%	-4.45%	-32.68%
Tax Burden Percent	71.95%	85.56%	73.87%	71.14%	68.82%	89.96%	67.69%	72.98%	109.68%	95.78%
Interest Burden Percent	93.22%	81.92%	23.09%	77.96%	67.44%	56.04%	591.74%	25.75%	-88.64%	129.89%
Effective Tax Rate	28.05%	14.44%	26.13%	28.86%	31.18%	10.04%	0.00%	27.02%	0.00%	0.00%
Return on Invested Capital (ROIC)	5.34%	6.99%	2.85%	4.05%	4.74%	7.84%	-0.18%	2.42%	1.97%	-6.98%
ROIC Less NNEP Spread (ROIC-NNEP)	4.78%	4.89%	-0.35%	2.51%	2.87%	3.27%	-1.21%	0.01%	-2.76%	-10.77%
Return on Net Nonoperating Assets (RNNOA)	0.93%	0.92%	-0.06%	0.40%	0.78%	0.81%	-0.28%	0.00%	-0.98%	-11.27%
Return on Equity (ROE)	6.27%	7.90%	2.79%	4.45%	5.52%	8.66%	-0.46%	2.42%	0.99%	-18.26%
Cash Return on Invested Capital (CROIC)	0.00%	13.08%	14.94%	12.88%	8.37%	7.95%	7.73%	7.92%	11.50%	-91.49%
Operating Return on Assets (OROA)	5.34%	5.81%	2.73%	3.96%	5.05%	6.30%	-0.19%	2.34%	2.10%	-8.14%
Return on Assets (ROA)	3.58%	4.07%	0.47%	2.19%	2.34%	3.18%	-0.75%	0.44%	-2.05%	-10.12%
Return on Common Equity (ROCE)	6.27%	7.90%	2.79%	4.45%	5.52%	8.66%	-0.46%	2.42%	0.99%	-18.26%
Return on Equity Simple (ROE_SIMPLE)	5.16%	0.00%	4.83%	4.48%	4.80%	0.00%	3.58%	2.69%	0.53%	0.00%
Net Operating Profit after Tax (NOPAT)	18	25	8.34	13	16	26	-0.51	7.23	6.38	-56
NOPAT Margin	8.96%	11.57%	4.75%	6.77%	7.97%	13.05%	-0.30%	3.92%	3.20%	-18.39%
Net Nonoperating Expense Percent (NNEP)	0.56%	2.10%	3.20%	1.54%	1.87%	4.58%	1.03%	2.41%	4.74%	3.79%
Return On Investment Capital (ROIC_SIMPLE)	-	1.46%	-	-	-	1.80%	-	-	-	-1.64%
Cost of Revenue to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SG&A Expenses to Revenue	13.61%	13.61%	16.34%	16.18%	15.08%	13.75%	24.00%	20.94%	23.13%	45.13%
R&D to Revenue	6.43%	5.63%	7.19%	6.82%	6.54%	5.38%	7.36%	7.41%	6.48%	8.06%
Operating Expenses to Revenue	87.54%	86.48%	93.57%	90.48%	88.42%	85.50%	100.43%	94.63%	95.42%	126.27%
Earnings before Interest and Taxes (EBIT)	26	29	11	18	23	29	-0.73	9.90	9.11	-81
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	61	64	44	50	56	63	30	40	40	-23
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.53	1.58	1.68	1.86	2.25	2.65	2.59	2.55	3.13	2.47
Price to Tangible Book Value (P/TBV)	0.00	6.78	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	2.19	2.20	2.34	2.60	2.59	3.15	3.11	3.08	3.82	3.76
Price to Earnings (P/E)	29.59	27.53	34.72	41.37	46.97	64.48	72.54	95.09	588.33	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	10.88%	9.05%	9.25%	9.33%	0.00%	0.00%
Earnings Yield	3.38%	3.63%	2.88%	2.42%	2.13%	1.55%	1.38%	1.05%	0.17%	0.00%
Enterprise Value to Invested Capital (EV/IC)	1.46	1.51	1.59	1.75	1.87	2.20	2.19	2.18	2.68	1.59
Enterprise Value to Revenue (EV/Rev)	2.39	2.40	2.53	2.80	3.09	3.60	3.52	3.47	4.15	6.05
Enterprise Value to EBITDA (EV/EBITDA)	8.34	8.29	8.89	9.99	11.18	12.92	13.42	13.88	18.18	60.44
Enterprise Value to EBIT (EV/EBIT)	21.31	20.59	22.75	26.24	29.59	33.73	38.38	42.47	65.84	0.00
Enterprise Value to NOPAT (EV/NOPAT)	29.83	27.12	29.65	34.13	38.56	43.84	49.15	52.56	89.14	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	9.32	9.13	9.59	11.62	13.60	16.88	16.41	16.24	18.40	184.69
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	11.07	10.15	13.04	21.96	27.23	27.79	26.98	22.26	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.48	0.49	0.50	0.51	0.63	0.62	0.62	0.61	0.61	1.64
Long-Term Debt to Equity	0.48	0.49	0.50	0.51	0.63	0.62	0.62	0.61	0.61	1.62
Financial Leverage	0.20	0.19	0.18	0.16	0.27	0.25	0.23	0.22	0.36	1.05
Leverage Ratio	1.66	1.67	1.66	1.67	1.73	1.73	1.73	1.73	1.82	2.51
Compound Leverage Factor	1.55	1.37	0.38	1.30	1.17	0.97	10.22	0.45	-1.61	3.26
Debt to Total Capital	32.41%	33.07%	33.47%	33.76%	38.59%	38.11%	38.11%	37.98%	37.81%	62.12%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.63%
Long-Term Debt to Total Capital	32.41%	33.07%	33.47%	33.76%	38.59%	38.11%	38.11%	37.98%	37.81%	61.48%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	67.59%	66.93%	66.53%	66.24%	61.41%	61.89%	61.89%	62.02%	62.19%	37.88%
Debt to EBITDA	2.40	2.38	2.46	2.55	2.61	2.62	2.81	2.96	3.24	24.88
Net Debt to EBITDA	0.71	0.70	0.68	0.71	1.83	1.62	1.57	1.53	1.46	22.91
Long-Term Debt to EBITDA	2.40	2.38	2.46	2.55	2.61	2.62	2.81	2.96	3.24	24.62
Debt to NOPAT	8.57	7.78	8.21	8.70	8.99	8.91	10.30	11.21	15.90	-49.08
Net Debt to NOPAT	2.55	2.28	2.28	2.44	6.30	5.49	5.76	5.81	7.17	-45.20
Long-Term Debt to NOPAT	8.57	7.78	8.21	8.70	8.99	8.91	10.30	11.21	15.90	-48.58
Altman Z-Score	2.16	2.16	2.22	2.35	2.28	2.69	2.59	2.62	3.03	0.91
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	5.62	5.62	6.54	6.35	3.69	4.39	4.29	4.31	3.85	1.90
Quick Ratio	5.33	5.33	6.24	6.01	3.42	4.19	4.02	4.04	3.71	1.74
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	85	128	139	116	63	65	41	55	112	-2,086
Operating Cash Flow to CapEx	667.77%	1,132.62%	632.98%	471.57%	460.75%	796.91%	593.70%	432.55%	550.09%	-816.26%
Free Cash Flow to Firm to Interest Expense	48.66	24.71	15.98	29.89	8.32	5.01	11.54	7.42	6.52	-86.49
Operating Cash Flow to Interest Expense	26.68	13.46	4.45	8.52	4.55	4.39	10.74	4.36	2.53	-3.55
Operating Cash Flow Less CapEx to Interest Expense	22.69	12.27	3.74	6.71	3.56	3.84	8.93	3.35	2.07	-3.99
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.43	0.43	0.42	0.42	0.44	0.43	0.44	0.44	0.46	0.31
Accounts Receivable Turnover	5.43	5.41	5.76	5.48	5.02	5.33	5.90	5.59	5.04	4.20
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	5.65	6.05	6.37	6.78	7.19	7.92	8.68	9.66	10.42	4.45
Accounts Payable Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Sales Outstanding (DSO)	67.22	67.50	63.33	66.58	72.67	68.46	61.90	65.28	72.44	86.88
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Cash Conversion Cycle (CCC)	67.22	67.50	63.33	66.58	72.67	68.46	61.90	65.28	72.44	86.88
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	1,326	1,290	1,262	1,250	1,279	1,251	1,220	1,203	1,173	3,281
Invested Capital Turnover	0.60	0.60	0.60	0.60	0.59	0.60	0.61	0.62	0.62	0.38
Increase / (Decrease) in Invested Capital	-66	-104	-130	-104	-47	-38	-42	-47	-106	2,029
Enterprise Value (EV)	1,936	1,942	2,013	2,186	2,393	2,749	2,667	2,623	3,139	5,207
Market Capitalization	1,771	1,779	1,858	2,030	2,002	2,405	2,355	2,333	2,886	3,234
Book Value per Share	$7.57	$7.42	$7.49	$7.48	$6.12	$6.25	$6.25	$6.29	$6.33	$7.57
Tangible Book Value per Share	($0.29)	$1.73	($0.46)	($0.45)	($2.00)	($1.78)	($1.66)	($1.52)	($1.40)	($10.46)
Total Capital	1,716	1,683	1,664	1,652	1,446	1,465	1,467	1,473	1,481	3,450
Total Debt	556	557	557	558	558	558	559	559	560	2,143
Total Long-Term Debt	556	557	557	558	558	558	559	559	560	2,121
Net Debt	166	163	155	156	391	345	313	290	252	1,974
Capital Expenditures (CapEx)	6.95	6.17	6.10	7.02	7.46	7.12	6.46	7.41	7.91	10
Debt-free, Cash-free Net Working Capital (DFCFNWC)	79	72	68	80	87	75	60	58	38	78
Debt-free Net Working Capital (DFNWC)	470	465	471	482	255	289	306	328	346	247
Net Working Capital (NWC)	470	465	471	482	255	289	306	328	346	225
Net Nonoperating Expense (NNE)	1.25	4.45	6.41	2.77	5.20	12	2.40	5.37	15	44
Net Nonoperating Obligations (NNO)	166	163	155	156	391	345	313	290	252	1,974
Total Depreciation and Amortization (D&A)	35	36	32	33	33	34	30	30	31	57
Debt-free, Cash-free Net Working Capital to Revenue	9.81%	8.85%	8.58%	10.30%	11.29%	9.79%	7.94%	7.73%	5.05%	9.03%
Debt-free Net Working Capital to Revenue	58.01%	57.46%	59.13%	61.79%	32.89%	37.80%	40.43%	43.35%	45.74%	28.73%
Net Working Capital to Revenue	58.01%	57.46%	59.13%	61.79%	32.89%	37.80%	40.43%	43.35%	45.74%	26.19%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.11	$0.14	$0.01	$0.07	$0.08	$0.10	($0.02)	$0.01	($0.06)	($0.67)
Adjusted Weighted Average Basic Shares Outstanding	150.93M	150.23M	145.86M	144.11M	143.23M	144.08M	143.59M	143.86M	144.10M	148.58M
Adjusted Diluted Earnings per Share	$0.11	$0.14	$0.01	$0.07	$0.07	$0.11	($0.02)	$0.01	($0.06)	($0.67)
Adjusted Weighted Average Diluted Shares Outstanding	152.36M	151.81M	147.03M	145.34M	144.73M	146.23M	143.59M	145.86M	144.10M	148.58M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	151.93M	147.78M	146.26M	145.19M	145.12M	145.16M	145.20M	145.41M	172.65M	173.51M
Normalized Net Operating Profit after Tax (NOPAT)	18	25	8.34	13	16	26	-0.51	7.23	6.38	-56
Normalized NOPAT Margin	8.96%	11.57%	4.75%	6.77%	7.97%	13.05%	-0.30%	3.92%	3.20%	-18.39%
Pre Tax Income Margin	11.61%	11.08%	1.48%	7.42%	7.81%	8.13%	-2.54%	1.38%	-4.06%	-34.12%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	14.75	5.53	1.30	4.54	3.07	2.28	-0.20	1.35	0.53	-3.35
NOPAT to Interest Expense	10.61	4.73	0.96	3.23	2.11	2.05	-0.14	0.98	0.37	-2.34
EBIT Less CapEx to Interest Expense	10.75	4.34	0.60	2.73	2.08	1.72	-2.01	0.34	0.07	-3.78
NOPAT Less CapEx to Interest Expense	6.61	3.54	0.26	1.42	1.13	1.50	-1.95	-0.02	-0.09	-2.78
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	583.86%	670.83%	888.15%	5.44%	-0.23%
Augmented Payout Ratio	4.07%	93.69%	160.32%	230.04%	267.91%	742.04%	774.72%	915.27%	68.08%	-0.23%

Frequently Asked Questions About First Advantage's Financials

When does First Advantage's financial year end?

According to the most recent income statement we have on file, First Advantage's fiscal year ends in December. Their fiscal year 2024 ended on December 31, 2024.

How has First Advantage's net income changed over the last 4 years?

First Advantage's net income appears to be on a downward trend, with a most recent value of -$110.27 million in 2024, falling from $100.01 million in 2019. The previous period was $37.29 million in 2023.

What is First Advantage's operating income?

First Advantage's total operating income in 2024 was -$62.38 million, based on the following breakdown:

Total Gross Profit: $860.21 million
Total Operating Expenses: $922.59 million

How has First Advantage revenue changed over the last 4 years?

Over the last 4 years, First Advantage's total revenue changed from $481.77 million in 2019 to $860.21 million in 2024, a change of 78.6%.

How much debt does First Advantage have?

First Advantage's total liabilities were at $2.62 billion at the end of 2024, a 261.3% increase from 2023, and a 169.8% increase since 2020.

How much cash does First Advantage have?

In the past 4 years, First Advantage's cash and equivalents has ranged from $152.82 million in 2020 to $391.66 million in 2022, and is currently $168.69 million as of their latest financial filing in 2024.

How has First Advantage's book value per share changed over the last 4 years?

Over the last 4 years, First Advantage's book value per share changed from 0.00 in 2019 to 7.57 in 2024, a change of 757.0%.

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This page (NYSE:FA) was last updated on 4/17/2025 by MarketBeat.com Staff

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First Advantage (FA) Financials

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