Advantage Solutions Inc. (ADV) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

-95.4%

$1.49

vs $32.04 price

Levered DCF

$34.84

After debt service

Piotroski score

5 / 9

Average

Altman Z-score

-0.12

Distress zone

Rating

Overall 2 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	-1.26×	-2.86×	-18.1×	-0.48×	47.18×	-16.67×	-107.22×	-1.83×
P/B	0.52×	1.25×	1.06×	0.59×	1.03×	1.21×	1.34×	1.33×
P/S	0.08×	0.26×	0.3×	0.18×	0.71×	0.93×	0.56×	0.57×
EV / EBITDA	0.76×	-27.51×	11.58×	-2.11×	9.57×	16.76×	11.79×	-6×
Gross margin	14.0%	14.2%	12.4%	13.0%	17.7%	19.1%	16.4%	16.2%
Operating margin	0.5%	-8.3%	1.2%	-41.0%	6.4%	2.1%	5.6%	-29.4%
Net margin	-6.4%	-9.2%	-1.6%	-37.9%	1.5%	-5.6%	-0.6%	-31.2%
Current ratio	2.25×	1.98×	1.87×	1.93×	1.71×	1.56×	1.84×	1.86×
Debt / equity	0.02×	2.32×	1.73×	1.88×	0.85×	0.89×	2.11×	2.02×
Interest coverage	0.12×	-2.01×	0.28×	-14.31×	1.67×	0.29×	0.92×	-4.75×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Payout ratio	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	-41.1%	-43.7%	-5.7%	-122.8%	2.2%	-7.3%	-1.3%	-72.7%
Return on invested capital	0.6%	-9.5%	1.0%	-36.3%	2.8%	1.2%	3.8%	-17.1%
Return on assets	-8.2%	-10.5%	-1.7%	-32.4%	0.9%	-3.0%	-0.4%	-19.3%
Free cash flow yield	19.3%	4.0%	16.0%	10.8%	3.7%	10.7%	4.7%	3.7%
Earnings yield	-79.7%	-34.8%	-5.4%	-208.3%	2.1%	-6.0%	-1.0%	-54.6%
Enterprise value	$58M	$2.5B	$3B	$2.7B	$4.5B	$4.9B	$5.3B	$5.2B
Net debt / EBITDA	-3×	-17.06×	7×	-1.59×	4.13×	6.7×	7.05×	-3.55×
Cash conversion cycle (days)	42	47	47	67	59	49	49	47