First Advantage Corporation (FA)
Fair ValueFundamental
56
Price
$17.80
Market Cap
$3.06B
Part 1 · What the company is worth
Overview
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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Direct competitors
Who this company fights with for the same customers
Generated on September 18, 2026 with claude-haiku-4-5 — shared with all users
Through its Workforce Solutions division, Equifax sells employment and income verification and hiring tax-credit services to the same employers, overlapping directly with First Advantage's verification and adjacent product lines.
HireRight sells the same global pre-employment background screening, drug testing and credential verification packages to the same large enterprise HR departments First Advantage serves, and is its closest like-for-like rival by scale and geographic reach.
Checkr competes for the same screening budgets with an automated, API-first platform, and is especially strong in the gig-economy and high-volume hourly hiring accounts that First Advantage also targets.
Accurate Background offers the same mid-market and enterprise screening suite across more than 170 countries and bids for the same employer contracts, having consolidated further by buying Orange Tree in 2024.
Cisive competes in the regulated verticals First Advantage also serves — healthcare, transportation and financial services — where the sale turns on compliance-heavy, continuously monitored screening programmes.
Balance Sheet & Liquidity
Revenue
$1.66B
Trailing 12 months (through 6/30/2026)
Net Income
$25M
Trailing 12 months (through 6/30/2026)
Free Cash Flow
$188M
Total Equity
$1.31B
Total Liabilities
$2.52B
Current Ratio
2.53
Interest Coverage
1.28
Debt/EBITDA
8.36
Earnings Per Share
Revenue & Net Income
Free Cash Flow
Income Breakdown
Historical statement
Margins over time
Debt over time
How heavy the debt is
Growth grid
Growth — Revenue
Fair Value Estimation
Fair Value
$17.99
Current Price
$17.80
Margin of Safety
+1.1%
Fair Value Range
$11.70 - $24.29
Spread across the valuation methods used, not a statistically calibrated confidence interval.
Estimation Methods
Valuation Metrics
P/E Ratio
118.67
ROE
-2.7%
P/B Ratio
2.36
P/FCF
12.28
Gross Margin
-
ROIC
4.0%
Profitability Radar
Value Creation (Economic Moat)
ROIC
4.0%
WACC
9.2%
ROIC − WACC
-5.2 pp
ROIC is below the cost of capital — the company is destroying value for every dollar invested.
Fundamental Analysis Criteria
Passed (14)
- P/FCF 12.28
- P/B Ratio 2.36
- Debt/Equity ratio
- Operating Margin 10.7%
- Positive Free Cash Flow
- CapEx intensity
- Current Ratio
- Return on Tangible Assets
- Revenue Growth 5Y 25.3%
- Analyst Consensus 72% Buy
- Earnings Surprise avg 13.9%
- Earnings Quality (OCF/NI) 10.39
- Net Margin Trend 1.5% vs -12.0%
- Piotroski F-Score 6/9
Failed (10)
- EPS shows upward trend
- Price CAGR 0.99%
- ROIC 4.0%
- Interest Coverage
- Debt/EBITDA
- Low reliance on intangibles
- Price below Graham Number
- DCF valuation (Overvalued)
- ROE 1.9%
- Share Dilution 16.8%
Unavailable (3)
- Gross Margin NaN%
- Dividend Payout NaN%
- PEG Ratio (need PE > 0 and growth > 0)
Piotroski F-Score
Mixed signals: some areas need attention
Earnings Quality
High quality: earnings backed by cash
Share Dilution
Issuing new shares, diluting ownership
Institutional Holdings
Governance
Executive Team
| Name | Title | Age |
|---|---|---|
| Mr. Scott D Staples | CEO & Director | 60 |
| Ms. Joelle M. Smith | President | 49 |
| Mr. Steven Marks | Executive VP & CFO | 38 |
| Mr. Douglas Nairne | Global Chief Operating Officer | 58 |
| Mr. Bret T. Jardine ESQ. | Chief Legal Officer & Secretary | 58 |
| Mr. Brian Gerald Anderson | Chief Product & Technology Officer | 46 |
| Ms. Stephanie D. Gorman | Vice President of Investor Relations | - |
| Mariah Mellor | Senior Director of Corporate Communications | - |
| Ms. Maureen Lally | Chief Marketing Officer | - |
| Beth Price | Chief People & Culture Officer | - |
Audit Risk
2
Board Risk
9
Compensation Risk
7
Shareholder Rights Risk
7
Part 2 · The price and when to enter
This part won't tell you whether the company is worth owning: it helps you choose when to buy it, once the fundamentals have convinced you. Inside: technical analysis, potential, historical drawdowns, gamma exposure.
Documents
- View document
Annual Report (10-K)
A yearly overview of the business, its financial results, and the risks it faces.
Filed on 2026-02-26
- View document
Quarterly Report (10-Q)
A snapshot of financial performance for the most recent three-month period.
Filed on 2026-08-06
- View document
Current Report (8-K)
An announcement of a major event, such as a leadership change or big news.
Filed on 2026-08-12
via SEC EDGAR
Income History
via SEC EDGAR
Latest News
Recent headlines for FA, sourced from Markets Gazette.