# First Advantage Corporation (FA)

> Source: Nexqual · https://nexqual.com/FA · data as of 2026-10-15 20:00 UTC · cite as "Nexqual, First Advantage Corporation (FA), nexqual.com/FA" · informational, not investment advice.

**Price:** USD 20.08 (+5.80% on the day) · last close of Oct 15, 2026; US market closed, not a live price. Prev close 18.98 · day 19.16–20.1 · 52w 8.82–25.15 · market cap $3.45B · NMS

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $1.66B, net income $25.1M (1.5% margin), free cash flow $249M (SEC filings).
- Valuation: P/E 137.2x (avg 65.0x at the last 1 fiscal year-ends), EV/EBITDA 18.1x, net debt $1.80B.
- Analysts: Buy (mean 2.10 on a 1–5 scale) (10 analysts), mean target USD 26 (range 22–30).
- Total return with dividends: 1Y +42.8% vs S&P 500 +18.1%; 5Y +8.1% vs S&P 500 +85.1%.
- Next earnings: 2026-11-05, EPS estimate USD 0.34, revenue estimate $438M.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $712M | $810M | $764M | $860M | $1.57B | $1.66B |
| Operating income | $63.8M | $94.3M | $81.5M | -$62.4M | $132M | $178M |
| Net income | $16.1M | $64.6M | $37.3M | -$110M | -$34.8M | $25.1M |
| EPS (diluted) | $0.11 | $0.43 | $0.26 | -$0.74 | -$0.20 | — |
| Free cash flow | $141M | $207M | $161M | $26.5M | $188M | $249M |
| Operating margin | 9.0% | 11.6% | 10.7% | -7.3% | 8.4% | 10.7% |
| Net margin | 2.3% | 8.0% | 4.9% | -12.8% | -2.2% | 1.5% |
| Revenue growth | — | +13.7% | -5.7% | +12.6% | +83.0% | — |
| Cash + short-term investments | $294M | $394M | $214M | — | — | — |
| Total debt | $555M | $557M | $558M | $2.14B | $2.08B | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/E 137.2x · P/S 2.1x · EV/EBITDA 18.1x · EV/Sales 3.1x · P/FCF 13.9x · P/B 2.7x · FCF yield 7.22% · Earnings yield 0.73% · Net debt $1.80B · EV $5.24B
P/E at fiscal year-ends: Dec 2023 65.0x.

## Analysts
Consensus Buy (mean 2.10 on a 1–5 scale), 10 analysts; mean target USD 26 (low 22, high 30).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-08-17 | Citigroup | Target raised | Neutral | $18 → $22 |
| 2026-08-07 | RBC Capital | Target raised | Sector Perform | $21 → $24 |
| 2026-08-07 | Barclays | Target raised | Overweight | $20 → $30 |
| 2026-08-06 | Needham | Upgrade | Hold → Buy | $28 |
| 2026-08-03 | RBC Capital | Target raised | Sector Perform | $17 → $21 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-16) | 5Y (from 2021-10-11) |
|---|---|---|
| Total return | +42.8% | +8.1% |
| S&P 500 (SPY) | +18.1% | +85.1% |
| Per year | +43.0% | +1.6% |
| Volatility (annualized) | 59.6% | 45.6% |
| Max drawdown | -43.1% (Jan 2026→Feb 2026) | -52.5% (Oct 2021→Oct 2022) |

## Peers (Specialty Business Services)
MMS (Maximus, Inc.) USD 60.24 +3.72% · AZZ (AZZ Inc.) USD 130.59 -4.48% · CBZ (CBIZ, Inc.) USD 54.73 -0.07% · ABM (ABM Industries Incorporated) USD 50.76 +0.14% · AMTM (Amentum Holdings, Inc.) USD 19.09 +3.08% · UNF (Unifirst Corporation) USD 264.83 +2.62%

## More
Full page: https://nexqual.com/FA · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt