Advantage Solutions Inc. ADV
We provide outsourced sales, marketing, merchandising, sampling, and retailer support services to consumer packaged goods ("CPG") manufacturers and retailers primarily across North America. Our services are designed to support distribution, retail execution, shopper engagement, and private brand development across both physical and digital commerce environments. We serve more than 4,000 clients across grocery, mass, club, retail pharmacy, convenience, and other channels in over 100,000 retail locations.
We operate through three reportable segments: Branded Services, Experiential Services, and Retailer Services. Our revenue model consists of commissions, fee for service arrangements, and cost-plus structures depending on the nature of the engagement. Expenses related to our employees, which we refer to as teammates, are a major component of the costs associated with our service delivery model, and financial performance is influenced by program volumes, service mix, and workforce utilization.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | $3.54B | $3.57B | $3.90B | $3.65B | $3.60B | $3.16B | $3.16B | $3.71B | — |
| SG&A | $276.1M | $324.6M | $250.2M | $175.4M | $168.1M | $306.3M | $175.4M | $152.5M | — |
| Total operating expenses | $3.67B | $3.86B | $3.85B | $5.14B | $3.37B | $3.09B | $3.57B | $4.80B | — |
| Operating income | -$126.5M | -$295.0M | $46.6M | -$1.49B | $230.0M | $67.0M | $213.7M | -$1.09B | — |
| Interest expense | $138.9M | $146.8M | $165.7M | $104.4M | $137.9M | $234.0M | $232.1M | $229.6M | — |
| Pre-tax income | -$265.3M | -$441.2M | -$118.9M | -$1.58B | $91.2M | -$180.4M | -$18.4M | -$1.32B | — |
| Income tax | $37.6M | $62.8M | $37.6M | $158.4M | $33.6M | $5.3M | $1.4M | $168.3M | — |
| Net income | -$227.7M | -$324.8M | -$60.4M | -$1.38B | $57.5M | -$175.8M | -$21.2M | -$1.16B | — |
| EPS, basic | — | — | -0.20 | -4.33 | 0.17 | -0.79 | -0.10 | — | — |
| EPS, diluted | — | — | -0.20 | -4.33 | 0.17 | -0.79 | -0.10 | -5.68 | — |
| Shares, diluted (wtd. avg.) | $324.6M | $321.5M | $323.7M | $318.7M | $321.0M | $223.2M | $203.8M | — | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 |
|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $240.8M | $205.2M | $120.8M | $135.8M | $176.5M | $220.0M | $199.0M | $144.5M | $188.6M |
| Receivables | $595.0M | $603.1M | $659.5M | $869.0M | — | — | — | — | — |
| Total current assets | $972.6M | $910.7M | $1.01B | $1.16B | $1.10B | $899.8M | $952.5M | — | — |
| Property, plant and equipment | $115.9M | $97.8M | $64.7M | $70.9M | $63.7M | $80.0M | $114.7M | — | — |
| Goodwill | $438.9M | $477.0M | $710.2M | $724.8M | $2.21B | $2.16B | $2.12B | $2.11B | — |
| Other intangibles | $993.9M | $1.33B | $1.55B | $1.90B | $2.29B | $2.45B | $2.60B | — | — |
| Total assets | $2.79B | $3.11B | $3.78B | $4.26B | $5.85B | $5.78B | $6.01B | — | — |
| Accounts payable | $162.4M | $158.5M | $172.9M | $261.5M | $277.4M | $195.5M | $179.4M | — | — |
| Short-term debt | $13.2M | $13.2M | $13.3M | $14.0M | $14.4M | $63.7M | $27.7M | — | — |
| Total current liabilities | $432.6M | $460.1M | $541.3M | $600.7M | $645.5M | $575.0M | $518.1M | — | — |
| Long-term debt | $1.66B | $1.69B | $1.85B | $2.02B | $2.03B | $2.03B | $3.17B | — | — |
| Total liabilities | $2.24B | $2.36B | $2.68B | $3.03B | $3.27B | $3.26B | $4.34B | — | — |
| Retained earnings | -$2.87B | -$2.64B | -$2.31B | -$2.25B | -$866.6M | -$921.1M | -$745.3M | — | — |
| Total equity | $554.0M | $748.7M | $1.10B | $1.23B | $2.58B | $2.52B | $1.67B | $1.67B | $2.85B |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 |
|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $61.5M | $93.1M | $228.5M | $104.7M | $126.0M | $345.7M | $151.3M | $126.3M | — |
| Depreciation and amortisation | $30.7M | $27.3M | $22.0M | $27.0M | $41.1M | $45.1M | $42.7M | $36.4M | — |
| Stock-based compensation | -$1.5M | $723.0K | -$2.5M | -$6.9M | -$15.0M | $89.8M | $1.3M | -$7.9M | — |
| Capital expenditure | $6.5M | $7.8M | $20.7M | $12.4M | $31.2M | $30.9M | $52.4M | $47.2M | — |
| Investing cash flow | $3.8M | $206.4M | -$50.5M | -$106.1M | -$75.8M | -$99.0M | -$61.8M | -$231.4M | — |
| Financing cash flow | -$36.2M | -$211.4M | -$178.4M | -$31.4M | -$86.3M | -$230.2M | -$38.2M | $70.1M | — |
| Buybacks | $869.0K | $34.1M | $6.4M | $0 | $12.6M | $0 | $0 | — | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001193125-26-170691.
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