First Advantage Corporation
FA Industrials Specialty Business Services
First Advantage Corporation’s revenue for fiscal 2025 (year ended December 2025) was $1.6 billion, up 83.0% from fiscal 2024. In the quarter to June 2026, revenue grew 14.9%, EPS grew 5,455.6%, free cash flow grew 120.2% and total debt fell 4.34%, each against the same quarter a year earlier. Insiders bought in the last twelve months.
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First Advantage Corporation (FA) Piotroski F-score
First Advantage Corporation's Piotroski F-score for fiscal 2025 is 6 out of 9: 6 of nine tests of profitability, leverage and efficiency passed, up from 2 in fiscal 2024.
Piotroski F-score, annual
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Annual newest first
| Period | Piotroski F-score | Change (points) |
|---|---|---|
| FY2025 | 6 | 4.00 |
| FY2024 | 2 | (3.00) |
| FY2023 | 5 | (2.00) |
| FY2022 | 7 | — |
How fiscal 2025’s score is made up
| Test | This year | Year before | Result | Points |
|---|---|---|---|---|
| Positive return on assets | (0.90%) | (3.97%) | Fail | 0 |
| Positive operating cash flow | 195.13m | 28.20m | Pass | 1 |
| Rising return on assets | (0.90%) | (3.97%) | Pass | 1 |
| Cash flow above net income | 229.95m | 138.47m | Pass | 1 |
| Falling long-term leverage | 0.54 | 0.76 | Pass | 1 |
| Rising current ratio | 2.44 | 1.90 | Pass | 1 |
| No new shares issued | 173,199,000 | 148,582,200 | Fail | 0 |
| Rising gross margin | 45.67% | 47.81% | Fail | 0 |
| Rising asset turnover | 0.41 | 0.31 | Pass | 1 |
| Piotroski F-score | Mixed | 6 | ||
How the Piotroski F-score works
One point for each of nine tests, this fiscal year against the one before: positive return on assets, positive operating cash flow, rising return on assets, cash flow above net income, falling long-term leverage, a rising current ratio, no new shares issued, a rising gross margin and rising asset turnover. The ratios are the ones on this site, so each can be checked.
Joseph Piotroski (2000) called 8–9 high and 0–1 low; reading it in three bands is the common convention:
| 7–9 | Strong — most fundamentals improved |
|---|---|
| 4–6 | Mixed |
| 0–3 | Weak — most fundamentals deteriorated |
Where this differs from the paper: return on assets is on average rather than beginning-of-year assets, and weighted basic shares stand in for shares issued. The score is shown only when all nine tests can be worked out, which takes three fiscal years; banks and insurers, which report no current assets or gross profit, have none.
Piotroski F-score against peers
| Company | Piotroski F-score |
|---|---|
| CBZ CBIZ, Inc. compare | 8 |
| MMS Maximus, Inc. compare | 8 |
| AZZ AZZ Inc. compare | 7 |
| AMTM Amentum Holdings, Inc. compare | 7 |
| ABM ABM Industries Incorporated compare | 7 |
| UNF Unifirst Corporation compare | 6 |
| FA First Advantage Corporation | 6 |
| DLB Dolby Laboratories compare | 6 |
| TIC Acuren Corporation compare | 4 |
What Piotroski F-score is
The Piotroski F-Score tells an investor how many signs of improving profitability, funding and efficiency a company shows against a year earlier.
One point for each of nine tests against a year earlier: positive return on assets, positive operating cash flow, rising return on assets, cash flow above net income, falling long-term leverage, rising current ratio, no new shares issued, rising gross margin, and rising asset turnover