Advantage Solutions Inc (ADV) Balance Sheet
ADV balance sheet, 2025
December 31, 2025 · U.S. dollars$2.79B assets = $2.24B liabilities + $554.0M equity
Both columns are drawn to the same scale: what ADV owns equals what it owes plus shareholders’ equity. Hover a block for its value.
ADV financial health
Descriptive bands, not a rating. Fiscal 2025.
ADV balance sheet trends, 2015–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $5.89B2015 | $2.79B2025 | −7.9%/yr | |
| Total liabilities | $4.18B2015 | $2.24B2025 | −6.7%/yr | |
| Shareholders’ equity | $1.68B2015 | $554.0M2025 | −11.6%/yr | |
| Cash & short-term investments | $70.6M2015 | $240.8M2025 | +14.6%/yr | |
| Total debt | $2.69B2015 | $13.2M2025 | −44.6%/yr | |
| Net cash (debt) | −$2.62B2015 | $227.6M2025 | +$2.8B | |
| Working capital | $170.0M2015 | $540.0M2025 | +$370.0M | |
| Book value per share | $206.432015 | $42.672025 | −16.1%/yr | |
| Current ratio | 1.612015 | 2.252025 | +0.64 | |
| Debt / equity | 1.602015 | 0.022025 | −1.57 | |
| Shares outstanding | 8.2M2015 | 13.0M2025 | +5.3%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
ADV assets
ADV liabilities and equity
ADV debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
ADV balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $240.8M | $205.2M | $120.8M | $120.7M | $164.6M | $204.3M | $184.2M | $141.6M | $40.3M | $70.6M |
| Cash & equivalents | $240.8M | $205.2M | $120.8M | $120.7M | $164.6M | $204.3M | $184.2M | $141.6M | $40.3M | $70.6M |
| Short-term investments | — | — | −$65,000 | — | — | $1.8M | — | — | — | — |
| Receivables | $595.0M | $639.3M | $670.6M | $883.0M | $804.2M | $584.3M | $695.0M | $643.8M | $419.9M | $344.4M |
| Inventory | $5.8M | $8.1M | $29.7M | $78.3M | $70.7M | $44.2M | $25.2M | $16.5M | $3.3M | $4.5M |
| Other current assets | $131.0M | $58.1M | $190.9M | $75.0M | $64.8M | $67.0M | $48.1M | $68.3M | $26.5M | $29.2M |
| Total current assets | $972.6M | $910.7M | $1.01B | $1.16B | $1.10B | $899.8M | $952.5M | $870.1M | $489.9M | $448.6M |
| Property, plant & equipment (net) | $115.9M | $123.7M | $98.5M | $132.6M | $111.2M | $129.8M | $208.6M | $108.1M | $71.9M | $65.5M |
| Goodwill & intangible assets | $1.43B | $1.81B | $2.26B | $2.79B | $4.49B | $4.62B | $4.72B | $4.88B | $5.30B | $5.28B |
| Long-term investments | $234.1M | $226.5M | $211.4M | $129.5M | $125.2M | $115.6M | $111.7M | $0 | $0 | $0 |
| Other non-current assets | $38.0M | $36.0M | $195.3M | $57.8M | $20.1M | $16.2M | $22.6M | $131.9M | $92.8M | $90.1M |
| Total assets | $2.79B | $3.11B | $3.78B | $4.26B | $5.85B | $5.78B | $6.01B | $5.99B | $5.95B | $5.89B |
| Liabilities | ||||||||||
| Accounts payable | $162.4M | $158.5M | $172.9M | $261.5M | $253.4M | $171.5M | $179.4M | $157.5M | $94.6M | $70.8M |
| Short-term debt | $13.2M | $26.6M | $27.8M | $35.6M | $34.8M | $88.7M | $71.1M | $30.1M | $41.0M | $23.4M |
| Deferred revenue | $30.5M | $37.1M | $42.1M | $53.9M | $50.5M | $62.6M | $54.3M | — | $36.4M | $21.5M |
| Total current liabilities | $432.6M | $460.1M | $541.3M | $600.7M | $645.5M | $575.0M | $518.1M | $468.9M | $323.6M | $278.6M |
| Long-term debt | $1.66B | $1.69B | $1.85B | $2.02B | $2.03B | $2.03B | $3.17B | $0 | $0 | $0 |
| Lease obligations | $32.1M | $38.0M | $50.6M | $78.0M | $60.9M | $65.6M | $119.0M | — | — | — |
| Other long-term liabilities | $146.2M | $211.0M | $281.2M | $409.4M | $597.6M | $654.4M | $652.7M | $3.86B | $3.89B | $3.90B |
| Total liabilities | $2.24B | $2.36B | $2.68B | $3.03B | $3.27B | $3.26B | $4.34B | $4.33B | $4.21B | $4.18B |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $33,000 | $32,000 | $32,000 | $32,000 | $32,000 | $32,000 | $20,000 | — | — | — |
| Retained earnings (deficit) | −$2.87B | −$2.64B | −$2.31B | −$2.25B | −$866.6M | −$921.1M | −$745.3M | −$724.1M | $46.8M | $14.7M |
| Accumulated other comprehensive income | −$4.2M | −$15.9M | −$3.9M | −$18.8M | −$4.5M | $674,000 | −$8.2M | −$19.7M | −$12.5M | −$5.6M |
| Minority interest | — | $0 | −$1.3M | $101.7M | $97.1M | $97.0M | — | — | — | — |
| Total shareholders' equity | $554.0M | $748.7M | $1.11B | $1.12B | $2.48B | $2.42B | $1.58B | $1.59B | $1.70B | $1.68B |
| Key figures | ||||||||||
| Total debt | $13.2M | $1.74B | $1.91B | $2.11B | $2.10B | $2.16B | $3.33B | $3.21B | $2.70B | $2.69B |
| Net cash (debt) | $227.6M | −$1.53B | −$1.79B | −$1.99B | −$1.94B | −$1.96B | −$3.14B | −$3.07B | −$2.66B | −$2.62B |
| Working capital | $540.0M | $450.7M | $470.7M | $556.3M | $458.8M | $324.8M | $434.4M | $401.3M | $166.3M | $170.0M |
| Tangible book value | −$878.9M | −$1.06B | −$1.16B | −$1.66B | −$2.01B | −$2.19B | −$3.14B | −$3.29B | −$3.59B | −$3.60B |
| Book value per share | $42.67 | $58.22 | $85.38 | $88.17 | $193.40 | $271.23 | $193.59 | $195.39 | $208.85 | $206.43 |
| Shares outstanding | 13.0M | 12.9M | 12.9M | 12.7M | 12.8M | 8.9M | 8.2M | 8.2M | 8.2M | 8.2M |
| Current ratio | 2.25 | 1.98 | 1.87 | 1.93 | 1.71 | 1.56 | 1.84 | 1.86 | 1.51 | 1.61 |
| Quick ratio | 1.93 | 1.84 | 1.46 | 1.67 | 1.50 | 1.37 | 1.70 | 1.68 | 1.42 | 1.49 |
| Debt / equity | 0.02 | 2.32 | 1.73 | 1.88 | 0.85 | 0.89 | 2.11 | 2.02 | 1.58 | 1.60 |
| Equity / assets | 19.8% | 24.1% | 29.2% | 26.4% | 42.4% | 41.9% | 26.2% | 26.6% | 28.6% | 28.6% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | $102.3M | $143.9M | $240.8M | $201.1M | $102.9M | $121.1M | $205.2M | $196.1M | $154.0M | $112.3M | $120.8M | $210.6M |
| Cash & equivalents | $102.3M | $143.9M | $240.8M | $201.1M | $102.9M | $121.1M | $205.2M | $196.1M | $154.0M | $112.3M | $120.8M | $210.6M |
| Short-term investments | — | — | — | — | — | — | — | — | — | $22.5M | $26.3M | $39.2M |
| Receivables | $634.9M | $572.6M | $595.0M | $635.4M | $673.3M | $641.7M | $639.3M | $667.4M | $647.4M | $649.4M | $670.6M | $827.8M |
| Inventory | $0 | $0 | $5.8M | $0 | $0 | $0 | $8.1M | $0 | $1 | −$22.5M | $29.7M | $16.3M |
| Other current assets | $93.1M | $88.3M | $131.0M | $107.4M | $150.6M | $116.1M | $58.1M | $111.7M | $275.2M | $192.9M | $190.9M | $63.9M |
| Total current assets | $830.3M | $804.8M | $972.6M | $943.9M | $926.7M | $879.0M | $910.7M | $975.2M | $1.08B | $932.1M | $1.01B | $1.12B |
| Property, plant & equipment (net) | $121.6M | $121.8M | $115.9M | $100.8M | $97.3M | $98.6M | $123.7M | $90.1M | $86.9M | $83.0M | $98.5M | $78.1M |
| Goodwill & intangible assets | $1.35B | $1.39B | $1.43B | $1.68B | $1.72B | $1.77B | $1.81B | $2.03B | $2.07B | $2.36B | $2.26B | $2.63B |
| Long-term investments | $202.8M | $205.3M | $234.1M | $232.4M | $243.1M | $234.3M | $226.5M | $234.0M | $220.1M | $220.4M | $211.4M | $127.0M |
| Other non-current assets | $36.7M | $42.5M | $38.0M | $35.5M | $37.9M | $34.8M | $36.0M | $62.5M | $40.0M | $42.7M | $195.3M | $106.3M |
| Total assets | $2.54B | $2.56B | $2.79B | $2.99B | $3.03B | $3.01B | $3.11B | $3.39B | $3.50B | $3.63B | $3.78B | $4.06B |
| Liabilities | ||||||||||||
| Accounts payable | $176.1M | $176.5M | $162.4M | $167.2M | $176.8M | $180.6M | $158.5M | $197.9M | $204.9M | $190.9M | $172.9M | $250.5M |
| Short-term debt | $25.3M | $25.9M | $13.2M | $13.2M | $13.2M | $13.2M | $26.6M | $13.2M | $13.3M | $13.3M | $27.8M | $14.4M |
| Deferred revenue | $25.0M | $25.1M | $30.5M | $29.8M | $31.4M | $26.6M | $37.1M | $29.5M | $28.9M | $23.4M | $42.1M | $50.8M |
| Total current liabilities | $462.9M | $412.0M | $432.6M | $428.9M | $473.4M | $441.9M | $460.1M | $512.9M | $509.0M | $476.9M | $541.3M | $633.9M |
| Long-term debt | $1.52B | $1.52B | $1.66B | $1.66B | $1.66B | $1.67B | $1.69B | $1.69B | $1.77B | $1.80B | $1.85B | $1.91B |
| Lease obligations | — | — | $32.1M | — | — | — | $38.0M | — | — | — | $50.6M | — |
| Other long-term liabilities | $159.0M | $154.0M | $146.2M | $194.0M | $208.2M | $210.6M | $211.0M | $257.7M | $245.5M | $277.1M | $281.2M | $333.5M |
| Total liabilities | $2.14B | $2.09B | $2.24B | $2.29B | $2.35B | $2.32B | $2.36B | $2.46B | $2.52B | $2.55B | $2.68B | $2.88B |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $1,000 | $1,000 | $33,000 | $33,000 | $33,000 | $32,000 | $32,000 | $32,000 | $32,000 | $32,000 | $32,000 | $32,000 |
| Retained earnings (deficit) | −$3.00B | −$2.94B | −$2.87B | −$2.71B | −$2.73B | −$2.70B | −$2.64B | −$2.46B | −$2.42B | −$2.32B | −$2.31B | −$2.33B |
| Accumulated other comprehensive income | −$10.1M | −$8.5M | −$4.2M | −$5.4M | −$1.7M | −$15.1M | −$15.9M | −$3.3M | −$11.4M | −$6.7M | −$3.9M | −$19.3M |
| Total shareholders' equity | $401.8M | $478.0M | $554.0M | $708.5M | $683.6M | $695.6M | $748.7M | $932.5M | $973.7M | $1.08B | $1.11B | $1.07B |
| Key figures | ||||||||||||
| Total debt | $1.54B | $1.55B | $13.2M | $1.68B | $1.68B | $1.68B | $1.74B | $1.70B | $1.78B | $1.81B | $1.91B | $1.92B |
| Net cash (debt) | −$1.44B | −$1.40B | $227.6M | −$1.47B | −$1.57B | −$1.56B | −$1.53B | −$1.51B | −$1.63B | −$1.70B | −$1.79B | −$1.71B |
| Working capital | $367.5M | $392.7M | $540.0M | $515.0M | $453.4M | $437.1M | $450.7M | $462.3M | $567.7M | $455.2M | $470.7M | $484.7M |
| Tangible book value | −$946.4M | −$912.5M | −$878.9M | −$972.4M | −$1.04B | −$1.07B | −$1.06B | −$1.10B | −$1.10B | −$1.27B | −$1.16B | −$1.56B |
| Book value per share | $31.11 | $36.55 | $42.45 | $52.12 | $52.91 | $54.06 | $58.30 | $72.61 | $75.42 | $84.25 | $81.20 | $82.56 |
| Shares outstanding | 12.9M | 13.1M | 13.1M | 13.6M | 12.9M | 12.9M | 12.8M | 12.8M | 12.9M | 12.9M | 13.6M | 13.0M |
| Current ratio | 1.79 | 1.95 | 2.25 | 2.20 | 1.96 | 1.99 | 1.98 | 1.90 | 2.12 | 1.95 | 1.87 | 1.76 |
| Quick ratio | 1.59 | 1.74 | 1.93 | 1.95 | 1.64 | 1.73 | 1.84 | 1.68 | 1.57 | 1.60 | 1.46 | 1.64 |
| Debt / equity | 3.84 | 3.24 | 0.02 | 2.36 | 2.45 | 2.41 | 2.32 | 1.82 | 1.83 | 1.67 | 1.73 | 1.79 |
| Equity / assets | 15.8% | 18.6% | 19.8% | 23.7% | 22.6% | 23.1% | 24.1% | 27.5% | 27.8% | 29.8% | 29.2% | 26.4% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed March 3, 2026); data from EODHD.
ADV financial position
At the end of fiscal 2025 (December 31, 2025), Advantage Solutions had total assets of $2.8 billion (down 10.1% from a year earlier), total liabilities of $2.2 billion and shareholders' equity of $554.0 million. It held $240.8 million in cash and short-term investments against $13.2 million of debt, a net cash position of $227.6 million. Its current ratio was 2.25. In the latest quarter (ended June 30, 2026) total assets were $2.5 billion and equity $401.8 million.
Related: ADV income statement, ADV cash flow statement, ADV key metrics. See the ADV stock overview for the latest quote and news.
ADV balance sheet FAQ
What are Advantage Solutions's total assets?
Advantage Solutions reported total assets of $2.8 billion at the end of fiscal 2025 (December 31, 2025), compared with $3.1 billion a year earlier.
How much debt does Advantage Solutions have?
Advantage Solutions had $13.2 million of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 0.02.
How much cash does Advantage Solutions have?
Advantage Solutions held $240.8 million in cash and short-term investments at the end of fiscal 2025; with $13.2 million of debt that is net cash of $227.6 million.
What is Advantage Solutions's book value?
Advantage Solutions's shareholders' equity (book value) was $554.0 million at the end of fiscal 2025, or $42.67 per share.
What is Advantage Solutions's current ratio?
Advantage Solutions had current assets of $972.6 million and current liabilities of $432.6 million, a current ratio of 2.25 (it can cover its short-term obligations).
How much goodwill does Advantage Solutions have?
Advantage Solutions carried $1.4 billion of goodwill and intangible assets, 51.3% of total assets, at the end of fiscal 2025.