First Advantage Corporation
In the published model solve dated 2026-Q2, anchored at $21.38, First Advantage Corporation (FA) is priced for +11.7% growth. boothcheck publishes no house fair value, target price, or buy/sell rating; individual model outputs and user-controlled scenarios are analytical inputs, not Boothcheck targets. The narrative was composed July 26, 2026 from SEC EDGAR filings.
• First Advantage runs employment background checks, and almost all of its recent growth was bought rather than built: fiscal 2025 revenue rose 83.0%, of which ⟦"revenues of $659.5 million, or 76.7%, attributable to Sterling as a result of the Sterling Acquisition completed on October 31, 2024"⟧ and only 3.5 percentage points came from new customers. • The borrowing that paid for it now shapes the whole income statement: total long-term debt sits near 2.11 billion dollars, and the interest on it
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157 institutional managers reported holding FA in 13F filings for the quarter ended 2026-03-31. 36 opened new positions that quarter. Held by T. Rowe Price, Capital Group (American Funds), FMR (Fidelity), among others. On the short side, 13.1M shares were sold short as of the 2026-06-15 count, about 8% of shares outstanding (6.1 days of typical volume to cover).
Quarterly 13F filings arrive up to 45 days after quarter end, so the picture is never current (filed through 2026-05-29). Nothing here is investment advice.
FA's share count grew 32.2% over the past five years even with $139.70M spent on repurchases. It pays no dividend. Cash returned over the past three years: $26.83M in repurchases.
Share counts are split-adjusted; repurchase totals are gross of share issuance. Nothing here is investment advice.
Open-market insider buys at FA over the trailing three years: 2025: 1 buy totaling $14k; 2026: 1 buy totaling $107k. 11 officers and directors are on file.
Code P open-market purchases from SEC Form 4 filings, non-derivative, excluding scheduled 10b5-1 plans. Nothing here is investment advice.
FA's recent reports: the day-one move, then what the following quarter actually did.
| report | day one | next quarter |
|---|---|---|
| 2023-08-10 | +6.4% | -8.1% |
| 2023-11-10 | +2.2% | +16.7% |
| 2024-03-01 | -6.1% | +6.3% |
| 2024-05-10 | -1.5% | -0.4% |
Day-one is the close-to-close move around the filing. Nothing here is investment advice.
FA's latest 8-K filings: 2026-08-12 (items 8.01, 9.01); 2026-08-06 (items 2.02, 5.02, 9.01); 2026-06-08 (items 5.07); 2026-05-07 (items 2.02, 9.01); 2026-02-26 (items 2.02, 9.01).
Item codes are the SEC's own classification of what each report discloses. Dates link to the filing on EDGAR. Nothing here is investment advice.
Model solve date: 2026-Q2
Narrative composed: July 26, 2026
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For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.