Advantage Solutions Inc. Class A Common Stock (ADV) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q2 26	$1.51	-$2.88	-290.7%	—	$889.5M	—
Q1 26	-$3.74	-$5.49	-46.8%	—	$869.6M	—
Q4 25	$2.75	-$0.45	-116.4%	—	$932.1M	—
Q3 25	$5.9	$1.83	-69.0%	—	$915M	—
Q2 25	$2.86	-$1.08	-137.8%	—	$873.7M	—
Q1 25	$1.5	-$3.36	-324.0%	—	$821.8M	—
Q4 24	$2.99	-$0.25	-108.4%	—	$892.3M	—
Q3 24	$2.77	$0.08	-97.1%	—	$939.3M	—
Q2 24	$2.37	-$6.12	-358.2%	—	$873.4M	—
Q1 24	$0.08	-$0.05	-162.5%	—	$879M	—
Q4 23	$3.34	$1.51	-54.8%	—	$1.1B	—
Q3 23	$3.19	$0.33	-89.7%	—	$1B	—
Q2 23	$2.46	$0.53	-78.5%	—	$963.8M	—
Q1 23	$1.91	$1.07	-44.0%	—	$944.4M	—
Q4 22	$0.15	$0.18	+20.0%	—	$1.1B	—
Q3 22	$0.18	$0.19	+5.6%	—	$1.1B	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	-$17.5	—	—	$3.5B	—
FY24	—	-$1.02	—	—	$3.6B	—
FY23	—	-$0.2	—	—	$4.2B	—
FY22	—	-$4.33	—	—	$4B

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY15	FY16	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$1.9B	$2.1B	$3.7B	$3.8B	$3.2B	$3.6B	$4B	$4.2B	$3.6B	$3.5B
YoY change	—	+10.8%	—	+2.09%	-16.6%	+14.2%	+12.4%	+4.32%	-15.6%	-0.66%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY15	FY16	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	1.9B	2.1B	3.7B	3.8B	3.2B	3.6B	4B	4.2B	3.6B	3.5B
Cost of revenue	1.5B	1.6B	3.1B	3.2B	2.6B	3B	3.5B	3.7B	3.1B	3B
Gross profit	440.8M	488.9M	599M	621.6M	604.2M	638.2M	556.6M	564.4M	507.3M	494.3M
Gross margin	23.3%	23.3%	16.2%	16.4%	19.1%	17.7%	13.7%	13.4%	14.2%	14%
Research & development	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	72.2M	97.5M	152.5M	175.4M	306.3M	168.1M	187.5M	265.1M	324.6M	276.1M
Operating expenses	72.2M	97.5M	152.5M	175.4M	306.3M	168.1M	187.5M	265.1M	324.6M	276.1M
Operating income	204M	221.1M	221.3M	213.7M	59.3M	230M	136M	74.6M	-21.9M	16M
Operating margin	10.8%	10.5%	5.97%	5.65%	1.88%	6.39%	3.36%	1.77%	-0.61%	0.45%
Non-operating income, net	—	—	-1.3B	—	-5.7M	-955K	-1.6B	1.9M	-272.5M	-142.4M
Pretax income	43.1M	53.8M	-1.3B	-18.4M	-180.4M	91.2M	-1.5B	-89.3M	-441.2M	-265.3M
Income tax	18.2M	22.6M	-168.3M	1.4M	-5.3M	33.6M	-145.3M	-29M	-62.8M	-37.6M
Net income	24.9M	31.2M	-1.2B	-19.8M	-175.1M	57.5M	-1.4B	-60.3M	-324.8M	-227.7M
Net margin	1.31%	1.48%	-31.1%	-0.52%	-5.55%	1.6%	-34%	-1.43%	-9.11%	-6.43%
EBITDA	368.6M	391.4M	446.5M	446.2M	297.9M	470.1M	369.1M	304.6M	184.7M	225.8M
EPS	0.12	0.16	-5.68	-0.1	-0.79	0.17	-4.33	-0.2	-1.02	-17.5
Diluted EPS	0.12	0.16	-5.68	-0.1	-0.79	0.17	-4.33	-0.2	-1.02	-17.5

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	1B	1.1B	879M	873.4M	939.3M	892.3M	821.8M	873.7M	915M	932.1M	869.6M	889.5M
Cost of revenue	892.3M	920.1M	763.9M	751.3M	795M	760.9M	722.8M	746.9M	776.4M	802.2M	761.6M	783.8M
Gross profit	127.4M	159.6M	115.1M	122M	144.3M	131.4M	99M	126.8M	138.6M	129.9M	108M	105.6M
Gross margin	12.5%	14.8%	13.1%	14%	15.4%	14.7%	12.1%	14.5%	15.1%	13.9%	12.4%	11.9%
Research & development	—	—	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	68.3M	60.6M	89.7M	62.9M	98.4M	74.2M	64.9M	68.7M	57.6M	85M	53.3M	50.9M
Operating expenses	68.3M	60.6M	89.7M	62.9M	98.4M	74.2M	64.9M	68.7M	57.6M	85M	53.3M	50.9M
Operating income	6.7M	44.6M	-26.1M	7.8M	-6M	5.5M	-16.2M	7.4M	30.3M	-5.5M	3.1M	3.4M
Operating margin	0.65%	4.13%	-2.97%	0.9%	-0.64%	0.62%	-1.97%	0.85%	3.31%	-0.59%	0.36%	0.38%
Non-operating income, net	-587K	2.5M	-976K	-98.4M	2.8M	-175.9M	1.6M	2.6M	10M	-156.5M	-16.9M	-4.3M
Pretax income	-36.2M	1.2M	-62.8M	-130.3M	-42.2M	-202.7M	-49M	-25.8M	5.3M	-195.8M	-48.5M	-40.9M
Income tax	-6.6M	-16.6M	-13.7M	-17.3M	-4.9M	-24.7M	7.1M	4.6M	-15.3M	-34.1M	23.3M	21.8M
Net income	-22.6M	17.8M	-3.1M	-100.8M	-42.8M	-178M	-56.1M	-30.4M	20.6M	-161.7M	-71.8M	-62.7M
Net margin	-2.21%	1.65%	-0.35%	-11.5%	-4.55%	-20%	-6.83%	-3.48%	2.25%	-17.4%	-8.26%	-7.05%
EBITDA	59.1M	104.3M	24.8M	59.7M	48.7M	56.5M	35.7M	60.7M	82.4M	46.9M	54.7M	54.7M
EPS	-0.07	0.05	-0.02	-0.31	-0.13	-0.55	-4.25	-2.25	1.5	-12.5	-5.49	-4.85
Diluted EPS	-0.07	0.05	-0.02	-0.31	-0.13	-0.55	-4.25	-2.25	1.5	-12.5	-5.49	-4.85

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY15	FY16	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	—	—	—	—	73.5B	—	16.6B	29.3B	23.5B	—	424.5M
Enterprise value	—	—	—	—	75.5B	—	18.6B	31.1B	25B	—	1.9B
Shares outstanding	203.8M	203.8M	203.8M	203.8M	223.2M	318.2M	318.7M	323.7M	321.5M	13M	13M

Valuation

Metric	FY15	FY16	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	—	—	—	—	—	—	—	—	—	—	-1.83
P/S	—	—	—	—	23.3	—	4.09	6.93	6.58	—	0.12
P/B	—	—	—	—	29.2	—	13.5	26.5	31.3	—	1.03
EV/EBITDA	—	—	—	—	253.3	—	50.3	102.1	135.3	—	6.07
EV/Sales	—	—	—	—	23.9	—	4.58	7.36	7.01	—	0.52
Earnings yield	—	—	—	—	—	—	—	—	—	—	-54.7%
FCF yield	—	—	—	—	0.43%	—	0.49%	0.66%	0.16%	—	49.4%
PEG	—	—	—	—	—	—	—	—	—	—	-0.02

Profitability

Metric	FY15	FY16	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	23.3%	23.3%	16.2%	16.4%	19.1%	17.7%	13.7%	13.4%	14.2%	14%	11.9%
Operating margin	10.8%	10.5%	5.97%	5.65%	1.88%	6.39%	3.36%	1.77%	-0.61%	0.45%	0.85%
Net margin	1.31%	1.48%	-31.1%	-0.52%	-5.55%	1.6%	-34%	-1.43%	-9.11%	-6.43%	-7.65%
ROE	1.46%	1.79%	—	-1.18%	-6.95%	2.23%	-112%	-5.46%	-43.4%	-41.1%	-50.8%
ROA	0.42%	0.52%	—	-0.33%	-3.03%	0.98%	-32.3%	-1.6%	-10.5%	-8.15%	2.31%
ROIC	2.72%	2.92%	—	4.44%	1.32%	3.21%	4.22%	2.58%	-0.96%	0.79%	1.7%
Return on tangible assets	-0.53%	-0.67%	—	0.58%	5.07%	-1.84%	105.3%	5.53%	63.3%	315.3%	176%

Financial health

Metric	FY15	FY16	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	1.61	1.51	—	1.84	1.56	1.71	1.93	1.87	1.98	2.25	1.79
Quick ratio	1.59	1.5	—	1.79	1.49	1.6	1.8	1.81	1.96	2.23	1.79
Debt / equity	1.57	1.55	—	1.99	0.86	0.81	1.72	1.74	2.32	3.08	3.84
Debt / assets	0.46	0.45	—	0.55	0.37	0.36	0.5	0.51	0.56	0.61	0.61
Net debt / EBITDA	7.1	6.78	—	7.05	6.57	4.13	5.4	5.88	8.3	6.49	6.03
Interest coverage	1.27	1.32	-4.75	0.92	0.23	1.66	-13.6	0.46	-2.01	-0.91	-0.95
Effective tax rate	42.2%	42.1%	0%	0%	0%	36.9%	0%	0%	0%	0%	0%

Per share

Metric	FY15	FY16	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	9.3	10.3	18.2	18.6	14.1	11.3	12.7	13.1	11.1	272.9	277
EPS (basic)	0.12	0.16	-5.68	-0.1	-0.79	0.17	-4.33	-0.2	-1.02	-17.5	-17.5
EPS (diluted)	0.12	0.16	-5.68	-0.1	-0.79	0.17	-4.33	-0.2	-1.02	-17.5	-21.1
Book value per share	8.39	8.53	—	8.2	11.3	8.12	3.86	3.41	2.33	42.7	31.3
FCF per share	0.42	0.64	0.39	0.49	1.41	0.3	0.25	0.6	0.12	0.66	5.41
Cash per share	0.35	0.2	—	0.9	0.92	0.52	0.38	0.39	0.64	18.6	7.98
Capex per share	0.16	0.17	0.23	0.26	0.14	0.1	0.13	0.14	0.02	3.58	3.58

Capital allocation

Metric	FY15	FY16	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	1.71%	1.65%	1.27%	1.38%	0.98%	0.87%	1%	1.1%	0.22%	1.31%	1.31%
Capex / operating cash flow	29.6%	21.3%	-4.61%	32.4%	10.2%	21.3%	-2.82%	30.2%	-4.97%	75.5%	75.5%
Payout ratio	—	—	—	—	—	—	—	—	—	—	0%

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	$1B	$1.1B	$879M	$873.4M	$939.3M	$892.3M	$821.8M	$873.7M	$915M	$932.1M	$869.6M	$889.5M
YoY change	-2.99%	-2.09%	-6.92%	-9.38%	-7.89%	-17.4%	-6.51%	+0.04%	-2.58%	+4.47%	+5.82%	+1.8%

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY15	FY16	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	70.6M	40.3M	184.2M	204.3M	164.6M	120.7M	126.5M	205.2M	240.8M
Receivables	283.4M	370.3M	684M	574.1M	797.7M	869M	703.3M	603.1M	595M
Inventory	4.5M	3.3M	25.2M	44.2M	70.7M	78.3M	29.7M	8.1M	5.8M
Total current assets	448.6M	489.9M	952.5M	899.8M	1.1B	1.2B	1B	910.7M	972.6M
Property, plant & equipment	65.5M	71.9M	208.6M	129.8M	111.2M	132.6M	109.7M	123.7M	138.1M
Goodwill & intangibles	10.6B	10.6B	9.4B	9.2B	9B	5.6B	4.9B	3.6B	2.9B
Total assets	5.9B	5.9B	6B	5.8B	5.9B	4.3B	3.8B	3.1B	2.8B
Accounts payable	70.8M	94.6M	179.4M	195.5M	277.4M	261.5M	181.1M	158.5M	162.4M
Short-term debt	23.4M	41M	71.1M	88.7M	34.8M	35.6M	28.8M	26.6M	24.7M
Total current liabilities	278.6M	323.6M	518.1M	575M	645.5M	600.7M	541.3M	460.1M	432.6M
Long-term debt	2.7B	2.7B	3.3B	2.1B	2.1B	2.1B	1.9B	1.7B	1.7B
Total liabilities	4.2B	4.2B	4.3B	3.3B	3.3B	3B	2.7B	2.4B	2.2B
Shareholders' equity	1.7B	1.7B	1.7B	2.5B	2.6B	1.2B	1.1B	748.7M	554M
Total debt	2.7B	2.7B	3.3B	2.2B	2.1B	2.1B	1.9B	1.7B	1.7B
Net debt	2.6B	2.7B	3.1B	2B	1.9B	2B	1.8B	1.5B	1.5B

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Cash & short-term investments	171.4M	126.5M	112.3M	154M	196.1M	205.2M	121.1M	102.9M	201.1M	240.8M	143.9M	102.3M
Receivables	827.8M	703.3M	649.4M	647.4M	667.4M	603.1M	641.7M	673.3M	635.4M	595M	572.6M	634.9M
Inventory	—	29.7M	—	—	—	8.1M	—	—	—	5.8M	—	—
Total current assets	1.1B	1B	932.1M	1.1B	975.2M	910.7M	879M	926.7M	943.9M	972.6M	804.8M	830.3M
Property, plant & equipment	—	109.7M	—	—	—	123.7M	—	—	—	138.1M	—	—
Goodwill & intangibles	5.3B	4.9B	4.7B	4.1B	4.1B	3.6B	3.5B	3.4B	3.4B	2.9B	2.8B	2.7B
Total assets	4.1B	3.8B	3.6B	3.5B	3.4B	3.1B	3B	3B	3B	2.8B	2.6B	2.5B
Accounts payable	250.5M	181.1M	190.9M	204.9M	197.9M	158.5M	180.6M	176.8M	167.2M	162.4M	176.5M	176.1M
Short-term debt	14.4M	28.8M	13.3M	13.3M	13.3M	26.6M	13.3M	13.3M	13.3M	24.7M	25.9M	25.3M
Total current liabilities	633.9M	541.3M	476.9M	509M	512.9M	460.1M	441.9M	473.4M	428.9M	432.6M	412M	462.9M
Long-term debt	1.9B	1.9B	1.8B	1.8B	1.7B	1.7B	1.7B	1.7B	1.7B	1.7B	1.5B	1.5B
Total liabilities	2.9B	2.7B	2.5B	2.5B	2.5B	2.4B	2.3B	2.3B	2.3B	2.2B	2.1B	2.1B
Shareholders' equity	1.2B	1.1B	1.1B	973.7M	932.5M	748.7M	695.6M	683.6M	708.5M	554M	478M	401.8M
Total debt	1.9B	1.9B	1.8B	1.8B	1.7B	1.7B	1.7B	1.7B	1.7B	1.7B	1.5B	1.5B
Net debt	1.8B	1.8B	1.7B	1.6B	1.5B	1.5B	1.6B	1.6B	1.5B	1.5B	1.4B	1.4B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY15	FY16	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	24.9M	31.2M	-1.2B	-19.8M	-175.1M	57.5M	-1.4B	-60.3M	-378.4M	-227.7M
Depreciation & amortization	164.6M	170.3M	225.2M	232.6M	238.6M	240M	233.1M	224.7M	204.6M	202.3M
Stock-based compensation	3.2M	3.2M	-7.9M	1.3M	89.8M	24.4M	32.9M	40.4M	31.7M	25.4M
Change in working capital	-27.9M	-22.9M	72M	-9.4M	131.5M	-172.2M	-104.9M	26.4M	36.1M	20.6M
Operating cash flow	109.2M	163.4M	-1B	161.7M	302.1M	146.5M	-1.4B	153M	-157.7M	61.5M
Capital expenditure	-32.3M	-34.8M	-47.2M	-52.4M	-30.9M	-31.2M	-40.5M	-46.3M	-7.8M	-46.4M
Investing cash flow	-241M	-149M	-231.4M	-61.8M	-99M	-75.8M	-113.5M	-55.2M	253.9M	10.3M
Dividends paid	—	—	—	—	—	—	—	—	—	—
Share repurchases	—	—	—	0	0	-12.6M	0	-6.4M	-34.1M	-869K
Financing cash flow	112.3M	-22.6M	70.1M	-38.2M	-230.2M	-86.3M	-41.6M	-180.9M	-211.4M	-36.2M
Net change in cash	-19.5M	-8.2M	-1.2B	61.6M	-27M	-15.7M	-1.6B	-83.1M	-115.2M	35.6M
Free cash flow	84.6M	129.7M	79.2M	98.9M	314.8M	94.8M	80.8M	192.7M	37.8M	8.6M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Net income	-29.6M	17.8M	-3.1M	-113M	-37.3M	-177.9M	-56.1M	-30.4M	20.6M	-161.7M	-71.8M	-62.7M
Depreciation & amortization	52.4M	54.4M	51.5M	51.3M	51.9M	51.6M	50.4M	50.7M	50.7M	50.5M	51.6M	51.3M
Stock-based compensation	9.2M	11.1M	7.6M	6.7M	8M	8.2M	5M	6.6M	7.4M	6.4M	2M	7.2M
Change in working capital	23.2M	-15.6M	39.4M	14.2M	-25.7M	17.2M	-13.4M	-26.4M	26.1M	34.3M	30.6M	-65M
Operating cash flow	32.1M	41M	90.7M	-64.9M	18.9M	-145.9M	-16.4M	-8.1M	63.6M	45.6M	23.7M	-6.5M
Capital expenditure	-10.4M	-16.6M	-16.2M	-9.6M	-25.3M	42.5M	-15.1M	—	—	—	—	—
Investing cash flow	-9M	-39.7M	68.7M	41.4M	100.6M	42.5M	-18.4M	-130K	18.4M	41.8M	38.9M	-75K
Dividends paid	—	—	—	—	—	—	—	—	—	—	—	—
Share repurchases	0	—	-11.7M	-9.1M	-13.3M	0	-869K	0	0	0	-2.3M	-14.7M
Financing cash flow	-58.5M	-60.4M	-66.9M	-47.7M	-92.6M	-4.3M	-22.1M	-86.2M	18.5M	-26.3M	-147.4M	-65.4M
Net change in cash	-35.4M	-59.2M	92.5M	-71.1M	26.9M	-107.7M	-56.9M	-94.5M	100.5M	61.1M	-84.8M	-72M
Free cash flow	65.4M	41.7M	22M	50.2M	15.1M	3.7M	-54.7M	-10.2M	52.2M	21.4M	12.3M	-16M

Advantage Solutions Inc. Class A Common Stock Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement