What is First Advantage Corp worth?
With the base-case assumptions below, a discounted cash flow model on First Advantage Corp's reported free cash flow gives $25.59 per share. The share price was $19.60 on September 25, 2026, 23% below that value.
Inputs from the filings
Three sets of assumptions
| Case | Growth yrs 1-5 | Discount rate | Value per share | Value vs price |
|---|---|---|---|---|
| Bear | 10.0% | 10.0% | $11.48 | -41% |
| Base | 15.0% | 9.0% | $25.59 | +31% |
| Bull | 20.0% | 8.0% | $51.86 | +165% |
Sensitivity: base case value per share
| 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | |
|---|---|---|---|---|---|
| 7.0% | $36.27 | $39.60 | $43.67 | $48.76 | $55.30 |
| 8.0% | $28.25 | $30.41 | $32.96 | $36.02 | $39.77 |
| 9.0% | $22.41 | $23.88 | $25.59 | $27.58 | $29.93 |
| 10.0% | $17.98 | $19.03 | $20.22 | $21.58 | $23.15 |
| 11.0% | $14.52 | $15.29 | $16.15 | $17.11 | $18.21 |
Where the presets come from
Base: years 1 to 5 grow at First Advantage Corp's revenue growth rate over the last 6 fiscal years (21.8% a year), held between -5% and 15%. Years 6 to 10 grow halfway between that and the long-run rate of 2.5%. Future cash is discounted at 9% a year.
Bear: 5 points less growth, 2% long-run growth, 10% discount rate. Bull: 5 points more growth (at most 25%), 3% long-run growth, 8% discount rate.
Value per share = (present value of 10 years of free cash flow + present value of everything after + cash - debt) / diluted shares.
This is a model run on assumptions, not a recommendation or a price target. Small changes in the discount rate or growth move the result a lot, as the table above shows. Change them yourself in the calculator.
Adjust the assumptions
Move the sliders for growth, long-run growth and discount rate, or switch to average free cash flow, and see the value per share change.
Adjust the assumptions