First Advantage Valuation Multiples

First Advantage Overview

About First Advantage

First Advantage Corp is a provider of employment background screening and verification solutions. Its reportable segments are First Advantage Americas, First Advantage International, and Sterling. Maximum revenue is generated from the First Advantage Americas segment, which performs various background checks and compliance services across all phases of the workforce lifecycle, from pre-onboarding services to post-onboarding and ongoing monitoring services, covering employees, contractors, contingent workers, tenants, and drivers. The company delivers solutions across multiple industry verticals in the United States, Canada, and Latin America. Geographically, it derives key revenue from the United States.

Founded

2003

HQ

Employees

10K+

Website

fadv.com

Sectors

Recruitment & Staffing
Service Providers

Financials

LTM Revenue $1.1B

LTM EBITDA $318M

EV

$4.9B

Valuation Multiples

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First Advantage Financials

First Advantage has a last 12-month revenue (LTM) of $1.1B and a last 12-month EBITDA of $318M.

In the most recent fiscal year, First Advantage achieved revenue of $860M and an EBITDA of $83.2M.

First Advantage expects next 12-month revenue of  XXX    and NTM EBITDA of  XXX

First Advantage P&L

Financial data powered by Morningstar, Inc.

First Advantage Stock Performance

As of May 30, 2025, First Advantage's stock price is $17.

First Advantage has current market cap of $3.0B, and EV of $4.9B.

First Advantage Stock Data

First Advantage Valuation Multiples

As of May 30, 2025, First Advantage has market cap of $3.0B and EV of $4.9B.

First Advantage's trades at 5.8x EV/Revenue multiple, and 59.5x EV/EBITDA.

Equity research analysts estimate First Advantage's 2025E EV/Revenue multiple at  XXX and 2025E EV/EBITDA multiple at  XXX

First Advantage has a P/E ratio of 21.1x.

First Advantage Financial Valuation Multiples

Valuation data powered by FactSet, Inc. and Morningstar, Inc.

First Advantage Margins & Growth Rates

First Advantage's last 12 month revenue growth is 38%

First Advantage's revenue per employee in the last FY averaged $0.1M, while opex per employee averaged $47K for the same period.

First Advantage's rule of 40 is 66% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

First Advantage's rule of X is 123% (created by Bessemer, rule of X is another metric relevant for SaaS companies only, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).

First Advantage Operational Valuation Multiples

Valuation data powered by FactSet, Inc. and Morningstar, Inc.

First Advantage Public Comps

Valuation data powered by FactSet, Inc.

First Advantage M&A and Investment Activity

First Advantage acquired  XXX companies to date.

Last acquisition by First Advantage was  XXXXXXXX, XXXXX XXXXX XXXXXX . First Advantage acquired  XXXXXXXX for  XXX (EV/Revenue multiple of  XXX ).

Latest Acquisitions by First Advantage

About First Advantage